HOW TO START YOUR OWN BUSINESS WITHOUT MONEY

Creating and sustaining your own business isn't just a way to wealth - it's a way to pursue your life's dreams and find personal fulfillment. This path isn't an easy one, but it's one that all of history's greatest entrepreneurs have had to follow. Though starting a business is easier if you have vast reserves of cash, it's possible to build a successful business from the ground, up with smarts, perseverance, and dedication even if you aren't loaded. If you're prepared to work hard and learn from your failures, you have the once-in-a-lifetime chance of building a successful business you can proudly call your own.

KEEP YOUR CURRENT JOB. By retaining a reliable source of income, you save yourself from the worry of not knowing how you'll pay your mortgage and from dealing with mountains of potential debt. However, you will have to work harder. Ideally, when your new business begins to pick up steam, you can gradually make the transition from a full time employee at your old job to a consultant or part-time worker. Eventually, you can transfer to your own business full-time. Though in real life this process often doesn't go quite as smoothly, it's almost always safer than dropping everything to pursue a dream that hasn't materialized yet.
This first step is all the more important if you're supporting a family. Don't jeopardize your family's future by giving up your primary source of income to pursue a personal dream. Though it's harder to balance your side project with your day job and your family life, it's much safer.
If you think you may want to start your own business in the near future, avoid signing an employment contract with a clause restricting your ability to pursue other sources of income. Don't be afraid to carefully go over your contract with a lawyer.

DESIGN A BUSINESS PLAN. How will you make money? If you can't answer this question, you shouldn't start your own business. The purpose of any for-profit institution is to make money - have a detailed plan for how to do this before you embark on your business venture. Try to answer the following questions - these are fairly fundamental and by no means exhaustive:
How much will it cost you to provide your product or service to the customer?
How much will you charge the customer for your product or service?
How will you increase the volume of your business?
In what ways will your business offer a better deal than your competitors?
What kinds of people will you need to hire? Can the work be done without these people?

DO A COMPETITIVE ANALYSIS. Who are your competitors? What do they charge for the product or service you're offering? Can you realistically provide this product or service at a higher level of quality or for a lower cost? If so, congratulations - you may be on to something! Research the market you're attempting to break into, as well as businesses that have (and haven't) found success in this market.
Not all industries are equally easy to break into. Business research firm IBISWorld recommends certain industries to aspiring small business owners for their low entry cost and high growth potential. Among them are: human resources & benefits administration, street vending, online auctioning & e-commerce, ethnic supermarkets, wine/spirit brewing, internet publishing, and more.

RESEARCH AND TEST YOUR IDEA. Preparation and planning is vital before setting out on any business venture. If you can, look for opportunities to perform "test runs." For instance, if you're thinking of opening a restaurant, first try cooking for a church or school fundraiser to see if you can handle the hectic atmosphere of a busy kitchen and to judge whether your food is well-received. You may also want to try conducting a survey among potential customers to judge whether they would frequent your hypothetical business.
Business plans are evolving documents. If the results of your research or testing contradict your current plans, don't be afraid to change your business plan or even start from scratch. Doing so can be frustrating, but it's far smarter than risking the failure of your business on an idea that won't fly.

FIND OPPORTUNITIES TO DEVELOP SKILLS CHEAPLY. If you have an idea for a business but you lack the skills or training to pursue it, get the training you need for as cheap as possible. Try to make deals with training institutions or companies to have train you in exchange for services rendered. Take on a paid internship or apprenticeship part-time. Look for opportunities to gain practical know-how from friends, family, and skilled acquaintances. You should maintain a source of income while you're doing this - if this means you need to stretch your training over a longer length of time, so be it.
If you need to go back to school, apply for every scholarship and financial aid package you're eligible for. The paperwork can be time-consuming, but the results (in the form of money saved) are worth it.

MAKE THE MOST OF YOUR EXISTING ASSERTS. When you're starting a new business from nothing, you should use the resources you already have at your disposal as much as you can. For instance, make your everyday car your company car. Turn your garage into a workshop. Some of today's biggest companies (most famously, Apple and Facebook) began in humble places - garages, basements, and dorm rooms, for instance. Don't be afraid to make the most of what you've got!
If you have a home, use it as the initial site of your business, rather than renting an office. This way, you'll save the money you would otherwise have spent on rent. For tax purposes, you may want to write off part of your home as a home office.

STREAMLINE YOUR STAFFING PLANS. It's expensive to pay your staff, especially if you want to hire well-trained professionals. Initially, keep your staff as small as possible to minimize expenditures. The NIGERIAN Smedan - Starting a Small Business in Nigeriarecommends spending no more than about 50% of your profits on employee wages.[1] If you can do all of the business's work without taxing yourself to exhaustion, go it alone initially. Otherwise, employ the smallest number of people necessary to do the job safely and professionally. As the business grows, you'll find a natural need to hire more people.
Keep in mind that, today, depending on where you live and the kinds of people you employ, you may be required to pay for an employee's medical insurance in addition to his or her BASIC salary.

ASK FRIENDS AND/OR FAMILY FOR A LOAN. When attempting to build a business from scratch, your creativity and hard work can take the place of a substantial amount of money. However, you may reach a point where you simply can't proceed without a little money. For instance, you may need a certain expensive piece of equipment which you don't own and can't borrow. Many small businesses find their feet with help from a kind relative or friend. Before you agree to a loan, however, make sure you specify the terms of the loan in writing - how long you'll have to pay the loan back, how big your payments will be, etc.
It may be an especially good idea to have a clause specifying that if the business fails, you'll have an extra-long time to pay back the loan (or won't have to pay back the loan at all).

SECURE AN OFFICIAL SMALL BUSINESS LOAN. Many governments offer loan programs specifically designed to get small businesses off the ground. In NIGERIA., the SMEDAN is the agency that operates these programs. Smedan - Starting a Small Business in Nigeria
Exhaust other reasonable avenues of raising money before applying
Be able to demonstrate a need for the loan
Be able to show a sound use for the money
Not be delinquent on any existing loans to the government

GET THE WORLD OUT. The best-run business in the world will fail, if no body knows it exists. Here's your chance to make up for a lack of capital with your own hard work - if you can't afford to run TV adds or rent billboard space, try printing off flyers at home and handing them out on weekends. Go door-to-door advertising your business in the neighborhood. Make your own banner to hang from the front of your business. Dress up in a ridiculous costume and stand with a sign on a busy street corner. Every cheesy, demeaning thing that you can do to get the word out about your new business - do it. If money's tight, your ego might have to take a back seat to your initial marketing efforts.
Today, you also have the potential to reach your customers online via a successful social media campaign. Social media is an effective way for a small business to represent itself to its customers online. Best of all, it's free for your business to join almost all major social media sites. Make an account on Facebook, Twitter, or other social networks, and encourage your customers to add you to their online circle (possibly by offering small perks to customers who do so) so that, you can notify them about deals and promotions.
Keep in mind, however, that online customers are used to being constantly bombarded with ads. Try to make your online content genuinely funny or striking - you'll be more popular than if you use social media solely as a platform for ads.

THINKING LIKE AN ENTREPRNEUR

GROW SOME PASSION AND DETERMINATION. Starting your own business can be very, very hard, especially in the beginning, when you're still working out the "kinks" of your new business model. If you love your business - if it's something you have a passion for - the work becomes much easier. If your passion for your work is so great that you feel guilty for making money, you can be confident that you've picked something that's perfect for you. When you have passion for your work, it's easy to keep your sense of determination strong because you won't be satisfied with yourself until you've done your best!
Find some areas you are passionate about and grow your skills in those areas through studies, training courses and the practical application of knowledge and skill. Find ways to make money out of your passion rather than trying to "force" the day job that you work to pay your bills into being the object of your passion.

BE PREPARED TO REINVENT YOURSELF. When you start your own business, you may find that you need to make drastic changes to your habits and even your basic demeanor, to keep up with your new demands. Flexibility is a great asset if you're a new small business owner, as you may have to ‘reinvent’ yourself a few times to find the right slant to tackle the niche you have chosen. Remember, starting your own business requires long hours and lots of focus - change your behavior to ensure you're able to give your new job the time and attention that it needs.
For instance, are you "not a morning person?" Are you "low-energy?" If your restaurant's grand opening is in one week, you can't afford to be these things anymore! Change your habits today - set your alarm clock extra early and drink a big mug of coffee.

TAKE ADVANTAGE OF UNCONVENTIONAL SOURCES OF FUNDING. So, you don't have an angel investor or a trust fund. This doesn't necessarily mean it'll be impossible to raise cash for your dream startup! Today, it's easier than ever for people who have great ideas (but no money) to get the attention of people with money (but no great ideas). Consider, for instance, advertising your project on a cloud-sourcing site like Kickstarter. Sites like this allow you to "pitch" your idea to the internet at large - if people online think your idea's good and your business plan is sound, they'll have the option of chipping in some of your startup costs!
Another way to win cash for your small business is to enter yourself in a startup competition. These competitions, often put on by the business schools of major universities allowing young, enterprising entrepreneurs to sell their ideas to wealthy venture capitalists. Usually, in these competitions, the winners win an initial round of funding to start their business!

PUT THE CUSTOMER FIRST. One sure-fire way to set your new business apart from established competitors is simply by being more friendly and personable than anyone else - people love when small businesses have a warm "Ma and Pa" feel. Make it your primary objective to please your customers through quality results and friendly service.
Try to understand what the customer wants. Find the best way to satisfy those wants. The main focus of any business is customer satisfaction. (Secondary focus should then be quality, cost/profit, appearance, function of product/service, etc etc...)
Remember that the customer is "always right" - even if s/he is acting entitled or illogical. This doesn't mean you need to capitulate to customers with ridiculous demands - rather, just that you need to make every customer feel respected.

OFFER BETTER VALUE THAN COMPETITORS. Money talks. For most average consumers, money is the "bottom line" - the thing that informs them when they decide which products and services to pay for. Consumers want value for their money and abhor the idea of being ‘ripped off’. Take advantage of this! Offer a better deal than your competitors - doing the same work for cheaper is sure to give you a leg up. However, ensure your profit margins are protected when deciding on your business's pricing structure - you always need to be able to pay the rent.
Make good on your promises and never be tempted to engage in false advertising as it will ruin you and your business’ reputation in no time.

LET YOUR CREATIVITY REPLACE YOUR MONEY. Get your business "back to basics." Initially, try to make sure your business is as lean as it can be. Minimize your need for cash, which can be hard to come by at first, and aggressively increase sales activity through developing and implementing your own creative ideas and concepts. Always think big. One great idea can be worth thousands of dollars.

APPROACH CONTRACTS AND PARTNERSHIPS WITH CAUTION. Be sure that you consider every business relationship or partnership you make very carefully. Only hire or partner up with people you trust absolutely. If you do decide to partner with a person or business you trust, be sure to have the terms of your partnership recorded in writing before making your relationship official.
It can be a very good idea to pay a lawyer to help you write your contracts for you. Legal fees can be expensive, but a well-written contract can save you many times your initial investment in the long run by preventing your partners from taking advantage of you.
Be careful when using the term ‘partner’ when you speak with business associates, as the legal concept of promissory stoppers (the spoken word superseding a written contract) might bite you at a later stage, especially if you start making money.

BUILD YOUR ABILITY TO NEGOTIATE. When all else fails, negotiate, barter, and trade. Confident crafty bargaining ability is one of the defining traits of a true entrepreneur. This is a valuable skill to build, as it strengthens your innate business "know-how" and improves your confidence. Whether you're hiring a new employee, shopping for some equipment, or hammering out a business partnership, don't be afraid to haggle and make offers that are beneficial to you - the worst the other person can do is say "no." Take risks (while protecting your legal rights) and you may be pleasantly surprised at the outcome.
Try making a trip to the local flea market - here, you're usually allowed (even encouraged) to haggle and bargain with vendors, so you can get some good low-stakes practice in.

STAYING SAFE AND SANE

RELY ON YOUR FAMILY, FRIENDS AND LOVED ONES. You don't have to go this road alone. Even if you don't make business partnerships with your loved ones (which can be a smart idea), you can lean on these people in the beginning (and later, when times are hard). Family and friends can offer powerful emotional support during your entrepreneurial journey. When you're stressed to your limit, this support can make the difference between pushing yourself to succeed and throwing into the well.
Talk to your family and make sure they agree with your overall business plan, because you may, at times, have to tax your family's resources, time, money, health, and nerves. It's only fair that they know what they're getting in to.
After becoming the boss in your business life, you may feel the temptation to become bossy at home, too. Don't act on this temptation. Keep your business concerns and your family concerns separate - make a rule that you won't discuss your business at dinner, for instance.

KNOW YOUR RIGHT. Having sound knowledge of commercial law (especially contract law, tax law, and the legal requirements for running a small business) is a valuable skill for an entrepreneur to have. If possible, it's a great idea to familiarize yourself with these areas of law, before starting your business. If you're truly confident in these areas of law, you can save money, you, otherwise may have had to spend on legal counsel. You'll also spare yourself from serious headaches when trying to decipher complex business and tax documents.
However, if you're not familiar with the law, get help. The money you spend on a lawyer can save you many times your initial investment, for instance, by preventing you from getting into damaging contracts.

LOOK AFTER YOUR PHYSICAL, MENTAL AND EMOTIONAL STATE. If you lose your health, you may lose it all. A healthy body, mind, and soul are vital to success as a business owner. Especially in the beginning, the hours may be very long and the work may be very hard. Still, you should always try to devote reasonable amounts of time to exercise, sleep, and "down-time." Treat these things with the value they deserve - they keep you healthy and sane. Remember, if you're incapacitated, you can't run your business.
Try to get income protection insurance, especially if your job is one with a risk of injury - a self-employed person cannot afford to lose income to this possibility.

GET THE WORK-LIFE BALANCE RIGHT. Do all things in moderation. Live life with a sense of balance, even when you're starting a business with barely a cent in the bank. Losing your perspective in life will make you poorer in the long run (emotionally - not necessarily financially), so it's never a risk worth taking. Never miss a night’s sleep. Don't work yourself to death. Always devote time to your family, your hobbies, and, of course, yourself. Your life should be a source of joy and passion - not just an opportunity to work.
Additionally, you should never rely on drugs to aid your performance ability or to replace your regular healthy eating and exercise plans. This will, in the long run, break you down and cause you to make irrational, emotional decisions which are never a good thing in business.

*Try to avoid borrowing money if you can. Cash is king. Keep it that way. If you don’t have money, don’t spend it and don’t take on large operating expenses ‘in faith’ at any stage.

*Try to avoid committing to long term contracts, like leases or fixed employment contracts for employees in the beginning. As you are uncertain as to how things will pan out in the first year of operating in particular (the experimentation phase), making major commitments of this nature is plain foolishness. Just don’t do it.

*Don’t flippantly share your business ideas with others. Ever had a fantastic business idea stolen? If you have, you probably will never be so foolish again. The betrayal element could destroy your confidence entirely. Prevention is better than cure in this instance.

*Speak to experienced entrepreneurs to get their ideas of how to get started from basics.

How To Achieve Financial Freedom

Want a new car? A bigger house? An earlier retirement? Make your own financial plan right here.

If you would like to stop wondering about whether you’ll ever realize your financial goals, and build a plan to actually reach them, I can help. Read on and I’ll not only show you how to build a proper financial plan, I’ll take you through. Follow my simple instructions and in no time at all, you’ll have the peace of mind that comes with a professional-quality personal financial plan—without having to pay a financial planner a dime.

1. Talk to your spouse
Most couples never talk to each other about their financial goals. If you’re in a relationship, before you roll up your sleeves and dig into the numbers, talk to your spouse about what you want to accomplish. “Have a brief conversation about goals, values, and what kind of lifestyle you want, “That’s key to a good start.”

2. Figure out where you’re at
Before you start worrying about where you want to go, you first have to figure out where you are now. In this step you’ll create a net worth statement, which is essentially an honest measure of your current wealth. You do this by tallying up the value of what you own (your assets) and what you owe (your liabilities). When you subtract your liabilities from your assets, you get a number that represents your net worth. Your net worth statement is an important tool that charts your financial progress over the years. For instance, if your net worth is going down, you’re eroding your wealth and making it harder to achieve your goals. If it’s increasing, you’re on your way to getting richer and achieving your financial goals.

Finally, subtract your liabilities from your assets to discover your true net worth. This shorter net worth statement gives a clear snapshot of exactly where you stand today.

3. Track your spending
The key to building a strong financial plan for the future is to understand how much you spend and save right now. This is called tracking your cash flow, and it can give you a sense of control and confidence that makes it easier to make financial changes in your life.

Personally, I’ve kept a small journal tracking my spending for years because it helps me modify my behaviour if my spending gets out of control. It’s not always easy, but it works.

“The part most people dread is taking a really close look at their expenses, “But don’t put it off. Successfully managing cash flow is your key to financial control. It will give you an awareness that has more long-term value than anything you can invest in, buy or sell.”

The point of the exercise is to find out whether you finish each year with a cash surplus or a cash deficit. This number will tell you a lot about your general financial shape. A surplus means you’re living within your means, while a deficit shows you’re spending more than you make. If you have a deficit, you will have to cut your expenses (or increase your income) to achieve any financial goals.

What do most people find after doing this exercise? “They're astonished,” It’s a very revealing exercise, mainly because if you have a family with two spouses with debit and credit cards, it’s hard to really see the complete financial picture unless you write it down. This awareness allows you to set up a system for the household.”

A good way to approach this exercise is to start with your regular monthly after-tax income and subtract the bills that don’t change month to month, such as rent or mortgage payments. If you don’t know the exact numbers, put in averages for things like groceries, gas or children’s activities. Then add in expenses that only come up a few times a year, such as travel, car repairs and gym fees. Estimate a total for these and divide it by 12, and put that figure in the monthly column of your worksheet. You may not pay the bills in 12 monthly installments but imagine you are setting money aside each month so that you have the total amount when the bill comes due.

4. Adjust your spending
Look closer. Are your expenses higher than your income? If so, you’re living beyond your means. You’ll need to adjust your expenses accordingly so you don’t go further into debt.

This step is not about punishing yourself or laying blame. If you’d rather eat out four times a week than buy a cottage in 10 years, that’s your choice. But you owe it to yourself to be honest about what you’re doing so you’re not wondering why you can’t reach your financial goals.

If you decide to cut back, there are some less painful ways of doing it. Consider renegotiating your mortgage to a lower rate or cutting out one major expense completely.

If you have a cash surplus, congratulations. You can start allocating money to meet your goals right away.

The idea here is to look at how well your current spending habits mesh with your goals. If you have a cash flow deficit you won’t be able to meet your goals, so you’ll have to see if you can free up cash by cutting back your spending in areas that are less important to you.

For instance, if you have a N5,000 a year deficit on Worksheet and one of your goals is to go on a N4,000 family vacation to Calabar in four years, you need to figure out a way to cut N6,000 a year from your spending. You could try using only one car and taking public transit to work. Such a cut could save you N6,000 a year in vehicle costs, allowing you to both balance your budget and reach your travel goal.

5. Set your life goals
Financial goals don’t just happen. You make them happen. This step requires you to assess where you want to be five, 10 and 20 years from now and answer some big questions, such as where you want to live in retirement and when you want to stop working.

One tip is to visualize what your life will be like 10 years from now if you do everything right. The truth is when they picture their future lives, very few people see themselves in a N150-million house in Abuja. Most people’s goals are more realistic, such as keeping up their current standard of living in retirement (with maybe a few upgrades), preventing any financial disasters, and having the freedom to do the things they love, such as spending more time with friends and family.

“Think of what type of life you want in the future and how you are going to organize your life right now to get it. “Your job is to structure your finances so you can achieve your vision.”

6. Develop a strategy
Once you know where you’re going, you need a plan to get there. The usual route is to spend less than you earn and invest the surplus in such a way that you can get where you want to go.

One word of caution—if you’ve identified your goals but you’re in debt, you probably should address that debt before you start investing for the future. “Even when people are not overspending and have debts that carry reasonable interest rates, I encourage them to work aggressively at paying those debts down,” Don’t even think about investing before your debts are all gone.”

7. Review your insurance
If you work full time, much of your insurance may be provided by your employer’s group plan. But is it enough? If you feel confident enough to do some basic calculations yourself you can find out.

Many workplace benefit plans include disability insurance, but if yours doesn’t, get enough to replace at least 60% of your after-tax income.

Then look at your life insurance needs. The general rule of thumb is to get enough life insurance to cover 10 times your income if you have kids under 10 years old (five times your income if you have kids over 10), plus the amount needed to pay off your debt. So if you make N50,000 a year, you have N250,000 outstanding on your mortgage, and two kids under 10, you will need N750,000 in term life insurance. Go to www.leadway.com  for quotes.

At this point, it may make sense to have an agent review all your insurance policies—disability, life, auto and home—to make sure your coverage is adequate. But be careful. “Do not be oversold on insurance by an industry that is famous for doing exactly that,” Pay attention to fees, especially with life insurance. If you need more life insurance, chances are renewable term is the right product for you. You want plain vanilla coverage for a plain vanilla problem—your kids going hungry because you can’t work.”

8. Create an investing policy
Every professional financial plan includes an Investment Policy Statement (IPS) that recommends how a portfolio should be invested. It puts in writing the rules that will make you a more disciplined investor. Having an IPS helps you to stick with your plan and keeps you from changing course when the market gets volatile.

A typical investment policy might specify that your portfolio should always maintain a ratio of 60% stocks to 40% fixed-income investments. This ratio is determined by your time horizon and risk tolerance. The longer your time horizon and the greater your tolerance for risk, the higher the equity portion of your portfolio. As you near retirement and need the security of more stable income from your investments, the portfolio mix will usually tilt towards bonds.

An IPS also states the expected annual returns for your portfolio—typically 5% to 6% per year—over a very long time period, such as 20 years or more. Your IPS might also note the volatility you should expect for a given portfolio. For instance, it could say that you should expect the portfolio to suffer a 10% drop in the short term at least once a decade.

If you have trouble with this section, you can always leave it for now. Once your financial plan is complete, you can consult a fee-only adviser to help you build an investment strategy that’s right for you.

9. Write up a will
Every adult who owns assets and has a spouse or children should have a will. An accurate and up-to-date will is the only way to ensure your assets will be distributed the way you want them to be. If you don’t have one, you’re letting the laws in the province you live in make those decisions for you. And if you hold the belief that your spouse will automatically inherit everything—you’re wrong. Without a will your husband or wife will get a predetermined amount of your assets—the rest goes to the kids.

Create or update your will. If you have an updated will it should be filed with your financial plan. If you don’t have one, hire a lawyer to draw one up for you. Visit www.nigeria-law.org and search for lawyers in your area who specialize in wills and estates.

10. Create your final plan
A typical financial plan has five main parts. The first outlines where you stand right now, that’s your current situation. The second contains your top financial goals, or where you want to go. The third is a simple net worth statement. The fourth lists the steps you must take to achieve your goals. It includes your income and expenses, an overview of your insurance, a section on retirement planning, and a section on estate planning. Finally, the fifth section—usually a separate document—is your Investment Policy Statement, which lays out how your portfolio is to be invested.

Under Investment Strategy Guidelines, write an outline of how your investments will be allocated, according to asset class. The next three headings—Security Guidelines, Location Guidelines and Risk Control, Monitoring and Review are fairly generic and are already filled in for you.

Phew, it’s done! You now have a financial plan for the rest of your life. From this point on, as your goals change, modifications to your basic plan will be straightforward.

Of course you still have to follow your plan. But you’ll probably find that the process of putting it together has already changed some of your beliefs about how your money should be spent and invested, so changing your financial behaviour may not be as hard as you think.

To make sure you stay on track, you should take the time to review your plan at least once a year, and update it as necessary. It’s also a good idea to pull it out whenever you run into a big financial or life event, such as a market crash, marriage or job change. “It’s a tool to support you through life,” Money and household finances won’t be as scary when you break it down into these manageable bits. If you truly commit, it will be a huge boon to your emotional and financial well-being.”

How You Can Make Money While Travelling

Have you ever asked yourself, “How will I possibly make money while traveling?” or “How will I survive on the road?” or maybe “How can I can’t start traveling when I don’t have much money?”.

Considering portable working or a ‘workation’? There’s nothing so good as traveling and working at the same time. Not only will you make money as you go, but you’ll get an opportunity to experience travel in a way most others won’t. And you won’t have to worry about spending your savings. Never let work be a barrier to travel: if you do it right, you can take your job with you.

Before you go

Before you dive into the list of quick-money fixes, take stock of what your job entails. How much of it is mobile? If you reshuffled tasks, could you make an entire day or week solely a computer job? With Wi-Fi and the right communication tools, working from your laptop is one of the easiest way of taking your job with you.

When it comes to getting paid, a good tip is to make sure you have a PayPal account set up. Quite a few places around the world use this for once-off payments (if it’s not in cold, hard cash).

1. Street performing

Dance, music, art: whatever skills you have on the side — or weird body parts that you don’t mind showing off for money — the right corner on the right street will get you a few dollars. Busking your skills topped off with painting yourself in silver may earn you enough to get a meal and a room in a hostel for the night. Try not to break any local laws regarding public decorum, or you may earn a fine or worse! Research in advance for this one.

2. Freelancing or Tutoring

Depending on your job, something like web developer or engineering consultant is a great way to earn cash as you go. Have access to your portfolio online so you can grab opportunities as they arrive. Or, put your profile up on Elance and go get them! Tutoring can include dance, singing, languages, math and other school subjects. Make connections through Facebook groups and get referred by local ex-pats for a better rate of success with temporary tutoring placements.

3. Fiverr or Odesk

If you’re not too worried about when you will be picked up for a job, set up profiles here to earn pocket money. Try to make your profile niche-specific so that you don’t get lost in the thousands of other similar profiles.

4. Lecturing

This one’s a challenge, but why not try it? If you are in a more remote part of the world and you have a skill or knowledge the local college or university might be lacking, then you might be able to contact them in advance and set up a class. In a few parts of the world qualifications are fuzzy and confidence will pull you through. Or, if you truly are a professor, you have every right to do such a thing and might be able to negotiate a placement in advance.

5. Get a job with an international traveling show

Join a circus, music band, dance show, or theater performance … there are all kinds of jobs going at these types of touring organizations. Sure, it’ll be tough and you’ll have almost no free time, but if your goal is pure travel then it’s worth a shot. The interesting people you are sure to meet along the way will be worth it!

7. Seasonal Work

Picking vegetables, fruit, flowers: if you can handle being outdoors for long stretches and don’t mind getting dirty, you can bounce from the northern to the southern hemispheres in search of farms in need of a helping hand.

8. Resort or summer camp work

Resorts and summer camps are often held in gorgeous regions, be it beach or mountains. These jobs require tons of energy and often the contracts have limiting stipulations such as not being allowed to leave the camp area or Cruise ship,  but you can save good cash for free travel time later.

9. Sales

If you’re a real go-getter, unafraid of setting out in new cities, then spotting sales jobs around regions you want to travel in could be a lucrative opportunity. Some travelers cut a deal with a surf equipment rental shop by getting a commission for each tourist they bring by the shop. There are many middlemen jobs you can pick out through your observations. Just take on what many people are too lazy to do on their holidays — think and make decisions.

10. Hostels, Bar, Restaurants

If you stick to very touristy areas, it’s pretty easy to land a bar job or table-waiting job in high season. Competition gets more tough in the low season but being multi-lingual will give you an advantage. Also, having a seasonal work permit/Working holiday visa will encourage the local business owners to choose you over those less organized (and less legal).

11. Beauty and haircut 

If you have the chance to carry the basic pieces of equipment with you, it is not unknown for some travelers to offer hostel guests a quick shave or massage for a few bucks. Manicures, pedicures, haircuts, make-up, face-painting for carnivals and parties … if you can build a rapport with a chain of hostels around a region it will be even easier to get clients.

Travel Blogging – It’s not easy to earn a big income with a travel blog. The amount of time/effort required to do so is much more than most people imagine. But if you’re looking for some extra cash to help fund part of your travels, while keeping the world informed of your adventures, starting a travel blog might be your answer. (Have a look at the useful Travel Blog Success course if you’re serious about earning money from your blog and for inspiration, see my List of travel bloggers out there.)

Any Kind of Blogging – You don’t have to start a travel blog just because you’re traveling. Whatever your interest may be, that might be the kind of blog you should start. There are always opportunities to earn some money no matter what you choose to focus on.

Affiliate Marketing – Making money this way is definitely possible even though the competition can be high. But if you’re willing to dedicate yourself to a couple of months worth of research, you’ll find your niche and hopefully a steady paycheck. If you don’t know much about affiliate marketing, have a look at Affilorama.com, which offers an excellent series of free lessons to get you started.

Selling Goods Online – Found some cool product that you think others would be interested in? Have your own handmade product you want to sell? You could set up a website or a shop on eBay or any other type of online sales outlet and start selling. Your success will depend on many factors but again, if you’re willing to learn how to get your goods in front of the right people online, even a few sales each week could potentially keep you on the road.