Make Money During Your Down Time

Today I found an article at MainStreet.com that can apply to both small business owners and their small businesses. In “4 Ways to Make Money on a Day Off,” Stacy Baker gives a few pointers on how to use your free time to bring in—or save—a little money. Her ideas are geared toward individuals, but I think they can apply to businesses as well.

Baker describes how one can turn their passions and hobbies into money-making ventures. Many small business owners have already done this—a lot of startups were the result of someone wanting to turn their hobby into a job. But your small business can also make a little extra money by catering to its customers’ passions. Classes or workshops are a great example of this. If you provide goods to a particular group, you can also offer them the chance to enjoy using these goods at your store. Cooking classes, wine tastings, scrapbooking workshops, and sport  training sessions are just some of the activities your business can offer during its off time that can help bring in a little extra money and market your store.

Next, Baker suggests working within your network to gain valuable resources for your business. Try starting a relationship with another business owner in your community that will be advantageous to both of you. Find someone whose expertise or products you need, and who also can benefit from what you and your business offer. This type of relationship is very opportunistic from a marketing viewpoint, and you’ll also save money in the process.

Check out Baker’s full article at http://www.mainstreet.com/article/smart-spending/bargains/deals/4-ways-make-money-day.

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