Entrepreneurship

The Best Sharing Economy Ideas

I like to make money on things I already do or already posses.

Being a glorified taxi driver (Lyft or Uber) doesn't do much for me!

 Why not just rent your bike, surfboard, or skis

Put up a tent in your backyard and rent it (great for cities that have lots of big events/concerts in the summer)

Folks always need tools, why not share them

And your car sits in the garage/driveway for at least 14 hours, rent it. RelayRides or Getaround


Get Cold Hard Cash and Help Your Fellow Man

  • Check out The Hair Trader if you are interested in selling your hair.
  • U can earn up to up to $135/month donating plasma. To find a blood bank near you to sell plasma, go here or here
  •  Call your local fertility clinic to inquire about selling eggs or sperm.

Governing Downside Economic Risk

A governor, or speed limiter, is a device used to measure and regulate the speed of a machine, such as an engine. I have taken that concept and applied it to finance. You put in place a governor that limits the speed at which you could potentially lose money.

Here is how I apply it:

  • I do not buy disposable products. Why throw money in the garbage?
  • I place stop loss orders for every stock/ETF I own at 4.5% below its cost basis. My upside is not capped but my downside is.
  • I use alternative income streams rather than bet everything on a single business venture.

9 Ways To Make Extra Money

  1. Cut grass.
  2. Hold a yard/garage sale. Nothing to sell? Use police/government auctions for merchandise to re-sell.
  3. Shovel snow.
  4. Baby sit http://www.sitters.com
  5. House sit http://www.housecarers.com
  6. Dog walk http://www.findadogwalker.com
  7. Become a school crossing guard or recces monitor.
  8. Beg. John Stossel went undercover & made $93 in one day. Or try it online @ http://www.cyberbeg.com
  9. Generate referral income. My cable company and my discount broker pay me to bring in new customers