On this episode of The nestegg Podcast, host Maja and three experts discuss the latest in equities, property investing and super.
" ["fulltext"]=> string(1351) "Steve Waters, director of Right Property Group, addresses the booming property market and why he believes stock is due to increase over the next couple of weeks. Steve gives his thoughts on the most buoyant markets and offers tips to those looking to enter the property game.
RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about Musk’s incredible market influence and what’s happening to bitcoin. She also offers up her predictions for bitcoin’s future and touches on the GameStop saga, which has seen US lawmakers interrogate key players.
And lastly, tax and super guru Timothy Munro gives his thoughts on Your Future, Your Super reforms and whether the government should consider enabling Aussies to access their super savings to purchase a house.
Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.
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Learn about how to start a successful side hustle with nestegg. We will provide you with up-to-date tips and guides on how to turn your hobby or interest into a money-making opportunity.
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There are a number of ways to monetise your photography. Below is a complete guide on how you can make money from your photos while showcasing your talent.
Write comment (0 Comments) " ["fulltext"]=> string(8064) "Whether you are a hobbyist or a full-time professional, monetising your photography may seem difficult at first.
This complete guide will help you learn about how you can sell your photos online. It will also discuss business ideas that will help turn your dream of earning money from your photography into a reality.
Sell stock photos
One of the best ways you can earn cash is by selling your photos to stock photography platforms.
Despite the intense competition in stock photo sites, the demand for high-quality images is constantly growing. There is also a demand for all types of photos so you will not be restricted to a certain subject.
There are certain photography genres that are more in demand compared with other subjects. This includes landscape, architectural, wildlife and street photography. You should check which pictures are highly in demand when you choose a certain stock photography site.
Once an image is uploaded to stock photography sites, it becomes a source of passive income. You will not need to actively update the photos and as long as it is on the stock photo website, it can continue to be an opportunity for you to earn money.
Popular stock photography websites include Adobe Stock, Shutterstock, Getty Images, iStock, Alamy, Etsy etc. These websites take a cut or commission whenever someone buys and downloads photos you have uploaded. As a contributor, there are also websites that let you take control of your works’ copyrights. Explore which website you think best fits your preferences and will be profitable for you at the same time.
You can also choose to sell your photos on your own website. If you have your own site, you have full control of your photos. You can set your own prices and you receive 100 percent of your profit.
Write a photography blog
Aside from producing good images, having a blog is one of the most important steps to take to make money from your photography.
A photography blog is a good platform to showcase your best images. It will help you connect with your target audience and gain new audiences. Creating a blog will also be helpful in generating leads for your photography business and services.
Here are the ways you can earn money through your blog:
- Advertisements: Through your blog website, you can advertise products and earn money without putting in too much effort.
- Affiliate programs: You can also collaborate with brands and companies through affiliate programs. Under this program, you will receive a commission for each sale made from promoting their product and services in your blog.
- Product and gear reviews: If you have built up a reputation in the photography scene, there is a high chance that companies will compensate you for writing reviews about their products. Remember to write honest reviews to retain your credibility.
Companies and brands prefer to work with blogs that have a high traffic rate. Applying search engine optimisation (SEO) strategies to your blog’s website and promoting on social media are good ways to increase the traffic and engagement on your photography blog.
Sell photography prints and products
Selling photography prints may be the most preferred method by photographers of monetisation. It allows photographers to fully showcase their talent and has the biggest potential for profit.
While selling prints on paper may be the most typical way to earn good money from photography, it takes more effort than the other methods. You need to be creative and look for opportunities to sell hard copies of your work.
Photobooks and coffee tables are photography-based products that you can sell. Before creating them, you must have a specific niche. Having a niche will help you focus on the content that is relevant and consistent with your style. By building your reputation in a particular niche, your book will have more potential buyers.
Using print-on-demand services like Blurb, Shutterfly and Lulu Xpress are good ways to test the demand for your works. If there is a strong demand for your products, you can choose to invest in increasing the number of books to print.
After creating your photobook or coffee table, you can contact a local coffee shop or gallery that displays works of artists. Some of these establishments offer to showcase works of art for a commission for every sale made. You can also sell prints to companies or businesses that are looking to decorate their space with pictures.
Promote and sell your images on social media. If you have an account, your followers might be interested in purchasing printed copies of your works.
Another way to make money is to print your photos on physical products. Several websites and tools allow you to upload your pictures and print them on materials, including mugs, clothes and calendars. Ensure that the quality of the product is the same as the quality of your photos before mass producing them.
Create and sell an e-book
If you are a highly skilled photographer and you are an expert in the industry, writing an e-book is a good opportunity for you to monetise your photography.
Creating an e-book will require you to undergo a long and difficult process. You will need to provide good content and photos and then sell it online. While it sounds time-consuming, a good e-book can be profitable for many years and can be a steady source of income if properly done.
Before creating an e-book, understand what type of content to sell to your target audience. Your e-book should be informative and informational. The topic of your e-book should also align with your field of expertise in photography.
A good book can boost your reputation in the industry, resulting in more brand partnerships and leads for your photography business.
The success of your first e-book will also increase the likelihood of higher sales for your next e-book.
Offer photography services
There are plenty of opportunities to sell your photography as a service. There is a steady stream of jobs such as covering events, product photo shoots as well as fashion model shoots that involves the use of your photography skills for a certain rate.
Most photographers opt to work as freelancers. If you are just starting out, you can list your service in freelance directories and websites. Freelancing also provides photographers a chance to build their network and meet potential clients.
When attending networking events, always have a business card with your contact details. It should include a website or social media profile where a potential client can see your work. Your online profiles should be presentable and professional in order to leave a good impression and increase your chances of being hired or booked.
Promote brands and companies through social media
Brands and companies have started to realise the power of influencers when it comes to social media marketing.
Instagram in particular is a good platform for photographers to promote their work. If your social media account has a big number of followers, you can be tapped by brands or businesses to promote their services or products with your photography.
Work with brands that are in line with your niche. Also make sure that you are genuinely vouching for them and have tested their products personally.
Conclusion
There are numerous opportunities for you to make money from your photography. Aside from your skills and talent as a photographer, your effort and hardwork will ultimately determine your earning potential.
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["alias"]=> string(40) "can-you-actually-make-money-from-surveys" ["introtext"]=> string(337) "Can you actually make money from surveys? We take a closer look if the rewards from this digital side hustle is worth the time and effort.
Write comment (0 Comments) " ["fulltext"]=> string(6686) "Answering surveys is a great and easy way to make money online. Survey sites are virtually everywhere. You can earn rewards, cash or gift cards by answering surveys about almost every topic under the sun. You also have the freedom to choose with survey companies you can work with.
Convenience also makes taking surveys an attractive side hustle. You can work from the comfort of your own home and you can do so in your preferred time.
The main question is how much money can you make from survey sites? Is the work involved worth the earnings from completing surveys?
Why are there online surveys?
You may think that getting paid to take a survey is not a legitimate side hustle. After all, who and why would anyone be willing to pay you for your opinion and thoughts?
In reality, consumer feedback is valuable to a lot of companies. These surveys are usually run by market research companies that are hired by businesses to learn your opinion on ads, products, services and other business-related topics that require input from customers.
Consumer feedback helps these companies to adjust their products and services before they are released to the public. The information gathered from surveys may also impact the way a new product is developed and how it will be marketed.
In the long run, the success of a product or a service will mean more profit for a company. This is why companies are willing to give you rewards when you take the time to complete a survey.
How to take online surveys
If you want to get started with taking online surveys, you will need to do the following steps:
Explore which company to sign up with
There are many kinds of paid survey sites looking for people to take their surveys. Some surveys include advertising effectiveness surveys, brand recognition surveys, product appeal surveys or surveys about a particular service.
Make sure that the company you are working with is legitimate and will pay you for your time and effort. Do your research on which sites are scams and which ones are verified, either by other users or by resource websites.
Aside from research, there are some red flags to look out for when choosing companies to take surveys for. Before you sign up, check the company’s privacy policy in the contract. Some companies gather respondents’ personal information only to sell it to malicious parties. If there is no stated privacy policy or if it says that the company can share your information openly, avoid answering surveys for this website.
Also steer clear of companies that ask you to pay before answering surveys. Remember that legitimate websites will always be willing to shell out money to get the information they need and they will not ask to be paid.
Create your profile
You will be required to create a separate profile for every company you complete surveys for. After registering, you will be asked to answer a series of questions.
It will require some patience, but be sure to fill out each profile as completely and accurately as possible. Each survey is created for a certain demographic, so it is likely that the company will not send you a survey unless you are part of the target sample population that they are aiming to get insights from. The number of available surveys will be based on the type of focus groups market research companies would like to research for. Sometimes, you will receive free product samples to test and review.
Receive surveys
Majority of survey sites will send you their available surveys through your email address. Some surveys will readily be available for you to take because you are one of their target demographic based on your profile. For other surveys, you will need to answer pre-survey questions to ensure that you are part of their target respondents.
For some online survey sites, you will need to first-hand test the products and services of companies before filling out the corresponding questionnaires.
Complete surveys
On most websites, you will be asked to answer questions to complete a survey. It can be as easy as answering multiple-choice questions or it can be typing out long-form answers to certain questions.
In order websites, you can earn by watching videos or playing games then answering a survey provided to review them.
Collect your rewards
The type of rewards you can receive from company survey websites can greatly vary. In some survey sites, your earned points from completing surveys can be used to redeem cash or other perks and rewards. Meanwhile, some companies will directly transfer money to your PayPal account upon completing a survey. Some companies will offer additional incentives if you refer a friend for a survey.
These steps can drastically differ from one survey site to another. Before signing up, make sure you understand all the processes involved when taking surveys.
How much money can you make from surveys?
Is taking surveys worth it? How much you make will be based on which companies you sign up with, how many surveys you take, and what demographic you are part of. Monetary survey rewards can range from less than $1 or over $20. However, most survey websites pay in the lower range. Some websites don’t give cash and will only allow you to redeem coupons or gift cards from your earned points.
While your earnings from taking surveys can accumulate over time, realistically you can’t make a full-time living on taking surveys. The amount of time spent to finish surveys (which can vary drastically from a few minutes to an hour) also makes it unsustainable as a side hustle as it will eat a lot of your time for a small amount of money. At most, the money you earn can leverage your spare time to earn some extra cash which you can use for your hobbies or small investments.
People who are part of the gig economy recommend looking into side hustles that can help you earn a significant amount of money for your time. It’s better to spend your time on side hustles that are growing in demand and are more profitable, such as being a rideshare app driver or being an Airbnb host.
Looking for the right side hustle for you? Explore nestegg to learn more.
Can you actually make money from surveys? We take a closer look if the rewards from this digital side hustle is worth the time and effort.
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full-time business is one of your financial goals, here are tips to make this dream into a reality.
Write comment (0 Comments) " ["fulltext"]=> string(9620) "Many people dream of quitting their nine-to-five jobs and working on a venture that they are passionate about. A significant number of Australians have taken the first step towards achieving this by taking on side jobs in their spare time. According to the latest figures, over 1 million Australians have taken on “side hustles” or extra work outside of their regular full-time jobs.
A side job (informally known as a side hustle or a side gig) is a type of employment taken on by an individual in addition to their full-time employment. And with the recent boom in the gig economy, it’s expected that more people will take on the challenge of pursuing one’s passion on the side while continuing to be employed in a daytime job.
A side hustle is a financial opportunity you shouldn’t easily dismiss. Dr Steven Enticott, a Melbourne-based expert and entrepreneur, said that many Australians are missing out on opportunities to earn extra income due to myths and misconceptions surrounding side hustles. He said that people “wrongly believe that it’s really hard to get a business idea off the ground and that it can’t be done without quitting your day job and spending bucket loads of money”.
Starting a side hustle should be no problem if you are really determined to find an additional income stream. Contrary to the popular belief, Dr Enticott added that “anyone can start a side gig in Australia and boost their income”. If you don’t know where to start, you can read about some insanely profitable skills you can learn online here.
If you’re an Uber driver, graphic designer, a social media manager, or even running a part-time online business, multiple projects can easily turn into your main source of income if you decide to put in the work and the needed hours.
But for most people, turning their side hustle into a full-time business is a risk they can’t afford to take. While the side-hustle-turned-business scheme isn’t for everyone, the good news is that you don’t have to quit your job and take a leap into the unknown. At least, not immediately.
The prospect of growing your business from your side gig is intimidating. But it can be achieved with strategic planning and solid commitment. So, what do you need to do to turn your side hustle into your full-time business? Here are some tips.
1. Don’t rush to start your business
A number of people rush to quit their daytime job to be a full-time small-business owner. Experts advise to spend time freelancing first before turning your business idea into reality. On average, side hustlers who became business owners are estimated to have worked in the gig economy for 19 months before quitting their full-time job, specifically to make their side gig their primary source of income. At this stage, you should focus on earning experience and building up your reputation first before you can make the shift to full-time self-employment. By working on your idea as a side hustle for a few months or a year to gain some traction, you’ll give yourself the opportunity to increase your income to a level that’s the same (or even higher) compared with what your day job is paying you.
2. Make a plan for financial stability
Starting a business requires a significant amount of money. Additionally, it’s intimidating to replace your job salary right out of the gate. A recent survey showed that it took side-giggers-turned-business-owners three years of being a full-time entrepreneur before they earned the same annual income as their last full-time job. To help your transition, you can start by covering one expense at a time with side hustle money. Don’t forget to track your expenses and create a budget to hold yourself accountable. If you’re not good at tracking your expenses, try working with a financial adviser to help you on your journey.
3. Identify a niche
Businesses are more likely to succeed if they develop a speciality, so try to identify a gap in your target market. Your niche should also align with your interests so you can avoid experiencing burnout. Successful entrepreneurs exhibit high levels of enthusiasm for what they do, and this passion is what helps their business weather difficult times.
4. Build your brand’s online presence
Not sure if your business idea will pan out? Test the waters by creating a social media account for your side hustle. Not only will this help people know about your product or service, it can also help you build up a solid clientele base. By collecting positive customer reviews and building a loyal network of followers, you will have a good foundation when you finally make that shift from a side hustler into a full-time business owner. To learn more about how you can use social media platforms for marketing your business, read here.
5. Study, study, study
While you may be good at your side hustle, you need to have basic knowledge of accounting, marketing and branding to run a business. These gaps in your knowledge can result in your whole operation tanking. Do your due diligence by reading online resources or taking courses on these subjects.
Another good idea would be to find a mentor who can provide you guidance and insight. Seek out advice from someone who has experience in your industry or niche. A mentor can help you set realistic goals and hold you accountable. Mentors can also share in your challenges, boost your confidence and help you adapt to change.
6. Improve time management skills
You should expect to put in a lot of time to successfully transition to going full-time with your business. Prioritise your tasks and create a reasonable schedule. Tackle the workload in small manageable steps. Focus your time and energy on tasks that impact your goals. You can choose to delegate daily tasks outside your core skills to help you with small but time-consuming tasks.
7. Manage your risks
Almost all small-business owners will tell you that every business has its risks. But good entrepreneurs know they need to protect their assets. Protect your income and the value you’ve built in your business by getting insurance. A small-business insurance can protect you against the financial impact of a claim or a lawsuit.
8. Set long-term goals with short-term objectives
Understand what your long-term goals mean on a daily basis. For example, if you want to boost your annual income by 25 per cent, how many clients do you need to cater to per day?
To create short-term goals for long-term success, experts advise you to think SMART:
Specific: Be clear, concrete and detailed about what you want to achieve.
Measurable: Set milestones and determine how you’ll measure success.
Achievable: Plan small, manageable steps within your resources.
Relevant: Align your goal with where you want your business to go.
Timely: Motivate yourself with a challenging but realistic deadline.
9. Ensure a smooth cash flow
Reasons for business failure vary, but according to the latest data from the Australian Securities and Investments Commission, the top cause for small-business owners closing shop is inadequate cash flow or working capital.
What can you do to better control the flow of cash through your business? Put solid strategies in place for collecting payments and maintaining cash flow to make sure your venture won’t suffer the same fate. Another strategy is to also control the speed at which you spend.
10. Register your business
Make it official by registering your business. This will help separate your professional and personal assets. It will also allow you to build credibility with potential customers.
Conclusion
If you have already taken the initiative to take on a side job on your extra hours to earn cash doing something you are passionate about, you are halfway to making your side hustle a success. While the prospect of leaving your full-time job to be fully self-employed may be intimidating, these tips could help you be on your way to becoming a successful business owner.
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If transitioning your side gig into a full-time business is one of your financial goals, here are tips to make this dream into a reality.
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"How can you turn your side hustle into a successful business? If transitioning your side gig into a full-time business is one of your financial goals, here are tips to make this dream into a reality.
Write comment (0 Comments) " ["fulltext"]=> string(9847) "Many people dream of quitting their nine-to-five jobs and working on a venture that they are passionate about.
A significant number of Australians have taken the first step towards achieving this by taking on side jobs in their spare time. According to the latest figures, over 1 million Australians have taken on “side hustles” or extra work outside of their regular full-time jobs.
A side job (informally known as a side hustle or a side gig) is a type of employment taken on by an individual in addition to their full-time employment. And with the recent boom in the gig economy, it’s expected that more people will take on the challenge of pursuing one’s passion on the side while continuing to be employed in a daytime job.
A side hustle is a financial opportunity you shouldn’t easily dismiss. Dr Steven Enticott, a Melbourne-based expert and entrepreneur, said that many Australians are missing out on opportunities to earn extra income due to myths and misconceptions surrounding side hustles. He said that people “wrongly believe that it’s really hard to get a business idea off the ground and that it can’t be done without quitting your day job and spending bucket loads of money”.
Starting a side hustle should be no problem if you are really determined to find an additional income stream. Contrary to the popular belief, Dr Enticott added that “anyone can start a side gig in Australia and boost their income”. If you don’t know where to start, you can read about some insanely profitable skills you can learn online here.
If you’re an Uber driver, graphic designer, social media manager, or even running a part-time online business, multiple projects can easily turn into your main source of income if you decide to put in the work and the needed hours.
But for most people, turning their side hustle into a full-time business is a risk they can’t afford to take. While the side-hustle-turned-business scheme isn’t for everyone, the good news is that you don’t have to quit your job and take a leap into the unknown. At least, not immediately.
The prospect of growing your business from your side gig is intimidating. But it can be achieved with strategic planning and solid commitment. So, what do you need to do to turn your side hustle into your full-time business? Here are some tips
1. Don’t rush to start your business
A number of people rush to quit their daytime job to be a full-time small-business owner. Experts advise to spend time freelancing first before turning your business idea into reality. On average, side hustlers who became business owners are estimated to have worked in the gig economy for 19 months before quitting their full-time job, specifically to make their side gig their primary source of income. At this stage, you should focus on earning experience and building up your reputation first before you can make the shift to full-time self-employment. By working on your idea as a side hustle for a few months or a year to gain some traction, you’ll give yourself the opportunity to increase your income to a level that’s the same (or even higher) compared with what your day job is paying you.
2. Make a plan for financial stability
Starting a business requires a significant amount of money. Additionally, it’s intimidating to replace your job salary right out of the gate. A recent survey showed that it took side-giggers-turned-business-owners three years of being a full-time entrepreneur before they earned the same annual income as their last full-time job. To help your transition, you can start by covering one expense at a time with side hustle money. Don’t forget to track your expenses and create a budget to hold yourself accountable. If you’re not good at tracking your expenses, try working with a financial adviser to help you on your journey.
3. Identify a niche
Businesses are more likely to succeed if they develop a speciality, so try to identify a gap in your target market. Your niche should also align with your interests so you can avoid experiencing burnout. Successful entrepreneurs exhibit high levels of enthusiasm for what they do, and this passion is what helps their business weather difficult times.
4. Build your brand’s online presence
Not sure if your business idea will pan out? Test the waters by creating a social media account for your side hustle. Not only will this help people know about your product or service, it can also help you build up a solid clientele base. By collecting positive customer reviews and building a loyal network of followers, you will have a good foundation when you finally make that shift from a side hustler into a full-time business owner. To learn more about how you can use social media platforms for marketing your business, read here.
5. Study, study, study
While you may be good at your side hustle, you need to have basic knowledge of accounting, marketing and branding to run a business. These gaps in your knowledge can result in your whole operation tanking. Do your due diligence by reading online resources or taking courses on these subjects.
Another good idea would be to find a mentor who can provide you guidance and insight. Seek out advice from someone who has experience in your industry or niche. A mentor can help you set realistic goals and hold you accountable. Mentors can also share in your challenges, boost your confidence and help you adapt to change.
6. Improve time management skills
You should expect to put in a lot of time to successfully transition to going full-time with your business. Prioritise your tasks and create a reasonable schedule. Tackle the workload in small manageable steps. Focus your time and energy on tasks that impact your goals. You can choose to delegate daily tasks outside your core skills to help you with small but time-consuming tasks.
7. Manage your risks
Almost all small-business owners will tell you that every business has its risks. But good entrepreneurs know they need to protect their assets. Protect your income and the value you’ve built in your business by getting insurance. A small-business insurance can protect you against the financial impact of a claim or a lawsuit.
8. Set long-term goals with short-term objectives
Understand what your long-term goals mean on a daily basis. For example, if you want to boost your annual income by 25 per cent, how many clients do you need to cater to per day?
To create short-term goals for long-term success, experts advise you to think SMART:
- Specific: Be clear, concrete and detailed about what you want to achieve.
- Measurable: Set milestones and determine how you’ll measure success.
- Achievable: Plan small, manageable steps within your resources.
- Relevant: Align your goal with where you want your business to go.
- Timely: Motivate yourself with a challenging but realistic deadline.
9. Ensure a smooth cash flow
Reasons for business failure vary, but according to the latest data from the Australian Securities and Investments Commission, the top cause for small-business owners closing shop is inadequate cash flow or working capital.
What can you do to better control the flow of cash through your business? Put solid strategies in place for collecting payments and maintaining cash flow to make sure your venture won’t suffer the same fate. Another strategy is to also control the speed at which you spend.
10. Register your business
Make it official by registering your business. This will help separate your professional and personal assets. It will also allow you to build credibility with potential customers.
Conclusion
If you have already taken the initiative to take on a side job on your extra hours to earn cash doing something you are passionate about, you are halfway to making your side hustle a success. While the prospect of leaving your full-time job to be fully self-employed may be intimidating, these tips could help you be on your way to becoming a successful business owner.
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["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(83) "/earn-money/side-hustle/10-tips-to-turn-your-side-hustle-into-a-successful-business" ["image"]=> string(29) "/images/basic/default-new.jpg" ["image_alt"]=> string(13) "default image" } [4]=> object(stdClass)#5103 (56) { ["id"]=> string(5) "13997" ["title"]=> string(37) "How to make sure you get paid on time" ["alias"]=> string(37) "how-to-make-sure-you-get-paid-on-time" ["introtext"]=> string(386) "Owning a business means you can choose your own clients, schedule your workload and set your own rates. The hard part is making sure your clients pay you on time to improve your bottom line.
Write comment (0 Comments) " ["fulltext"]=> string(4076) "Following up on missed payments can be an awkward situation, especially if you have to make several follow-up phone calls to get paid. However, there are ways to avoid this inconvenient circumstance.
Consider the following strategies to ensure that clients can pay you on time:
-
Discuss it during the negotiation stage
One good way to ensure timely payments is to include payment terms during the negotiation stage.
Offering transparency prior to signing a contract with the client sets up the expectations from both parties, such as sending the invoice on time on your part and paying by the due date for the clients’.
This will also give you a chance to discuss any sanctions for late payments, such as late payment fees or applying interest on the outstanding balance, and negotiate additional or alternative payment terms. -
Negotiate a deposit
Another thing you can do to secure payment from your clients is to negotiate an upfront payment upon signing the contract and bill the balance upon completion of the project or service.
A deposit would ideally serve as an assurance to both parties because:
A.) Your business received payment for the product or services, which means you need to ensure that you can deliver what is required on your end to receive the remaining payment; and,
B.) The other party knows that your business is working to complete the project because you’re already partly paid for the transaction. This means they need to ensure that the payment for the balance is ready upon completion. -
Set a scheduled reminder about the payment due date
You need to keep track of your accounts receivables and ensure that your clients pay their bills – doing so may help improve cash flow.
Some clients may not necessarily be purposely delinquent – they may simply be conducting business with many companies and talents that they overlook some of their bills.
To avoid being the forgotten biller, ensure that you always send invoices out on time. It’s also advisable to schedule regular reminders about the outstanding balance after sending the invoice and before the actual due date.
For instance, both parties agree on a Net 30 set up (i.e. payment due date is 30 days after the invoice date). Consider sending reminders 10 and 20 days after sending the invoice and, again, a day or two before the due date.
It’s up to you how often the reminders would be, but they should ideally be spaced out in a way that doesn’t annoy your clients. -
Consider shorter billing cycles
Outstanding balances may sometimes be paid faster if the amount is broken down into smaller amounts and paid in shorter billing cycles. For instance, instead of a Net 30 set up, consider making the payments weekly.
This not only allows your clients to pay without using up a chunk of their budget in one go, it also helps improve your cash flow due to invoices paid more often. -
Offer different payment methods and incentives
Another way to get paid faster is by offering convenience and reasons to pay early.
Generally speaking, people tend to pay faster if the process won’t take up too much time, such as when they can just hand over their credit card or automate online payments. Consider giving your clients two or three payment options for increased convenience for both parties.
Likewise, you may wish to offer incentives to clients who pay early or consistently pay the full balance on time. For instance, you may provide an extra service for free or give a discount on their next statement. -
Be nice
Maintaining a good relationship with your clients helps because it can make your client more accessible when it comes time to collect payments.
Likewise, being nice to your client may convince your client to return the favour by ensuring that their bill gets paid on time.
Owning a business means you can choose your own clients, schedule your workload and set your own rates. The hard part is making sure your clients pay you on time to improve your bottom line.
Write comment (0 Comments) " ["jcfields"]=> array(9) { [1]=> object(stdClass)#5471 (32) { ["id"]=> string(1) "1" ["title"]=> string(17) "Automatic tagging" ["name"]=> string(17) "automatic-tagging" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2018-08-29 05:26:30" ["created_user_id"]=> string(4) "2355" ["ordering"]=> string(2) "-1" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#5210 (3) { ["data":protected]=> object(stdClass)#5224 (1) { ["options"]=> object(stdClass)#5222 (2) { ["options0"]=> object(stdClass)#5221 (2) { ["name"]=> string(3) "Yes" ["value"]=> string(1) "1" } ["options1"]=> object(stdClass)#5223 (2) { ["name"]=> string(2) "No" ["value"]=> string(1) "0" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#5220 (3) { 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delivery job with one of the on-demand service apps used in Australia.
Write comment (0 Comments) " ["fulltext"]=> string(6947) "Working with a delivery app as an independent contractor has many advantages. You are given full control of your working schedule. You can also choose what type of deliveries you can do.
This line of work does not require any special skill or experience. As long as you meet the basic requirements, you can earn money doing delivery jobs for numerous companies.
A delivery app job is a great side hustle, but here are some factors to keep in mind before signing up.
Factors to consider before taking a delivery app job
Earnings and expenses
Before applying to a delivery app job, make sure that drivers earn a fair amount from delivery fees set by the company.
As an independent contractor, you are expected to pay for the cost of your vehicle’s fuel and maintenance. Factor in these expenses and the general “wear and tear” on your vehicle and your earnings may take a hit. Make sure to take these costs into account after learning the average hourly rate of drivers for a delivery app. You could end up making less than the minimum wage if you do not do proper research.
Physical requirements
The type of delivery app job you will take may depend on your age and level of fitness. If you are avoiding vigorous physical activity, you can choose to work for a food delivery app or take on small courier jobs for a ridesharing app. Meanwhile, there are some delivery apps that may require you to lift and carry heavy items such as furniture and other home items.
Most delivery apps (such as Uber Eats, DoorDash and Deliveroo) require applicants to be at least 18 years old to be a qualified delivery personnel.
It is important to understand the physical requirements before you accept an order to ensure that you will be able to complete the task and your safety and wellbeing will not be compromised.
Vehicle requirements
Delivery apps have varying vehicle requirements. If you want to be a food delivery driver, there is generally no size requirement for your vehicle. Most drivers delivering food or grocery items choose to work with a scooter, bike or any small passenger vehicle. Some companies (like Uber Eats and DoorDash) can even let you complete a delivery by foot.
If you are looking to partner with a delivery app that caters to moving and retail delivery orders, a larger vehicle such as a truck or cargo van may be appropriate for these projects.
Some companies offer a rental program to help people that have no vehicles but are looking to work with delivery apps. For example, Lyft offers a rental program called Lyft ExpressDrive that allows people to rent vehicles to be used for delivery or ridesharing app jobs.
Before renting a vehicle, do your research and ensure that the number of hours you have worked will be enough to cover the expenses for your vehicle’s rental.
App reputation
Check the reputation of the delivery app company that you are planning to partner with.
One way to examine a prospect company’s reputation is by knowing how many stars their app has. You should be wary if the app’s average rating is low and there is a high number of comments from dissatisfied customers. It may indicate that the service the platform provides is substandard to what was promised to contractors.
Be careful of deceptive sign-up deals that offer too-good-to-be-true or large bonuses for completing an impracticable number of deliveries during your first week or month on the job.
App availability
Check the availability of a company’s app in your location or market. If you live in an urban area or in the big cities, you will likely have more delivery app job opportunities and options. Australia’s capital cities generally have more food delivery apps available compared with rural areas.
Not all apps are also available for some mobile phone’s operating system. While most apps are available both on the iOS and Android operating system (OS), there are some apps that can only be accessed by only one of the two mentioned OS.
Choosing a delivery app
After taking these factors into consideration, here are some reputable delivery apps you may want to work for:
Uber Eats
Operated by the company behind the rideshare app Uber, Uber Eats delivery is a standalone on-demand service app focused on delivering food items. It is available to major cities around the world, including Tokyo, Singapore and Amsterdam.
It has similar features to Uber, such as estimated delivery time and cashless transactions. The app has a high rating average due to its user-friendliness.
Depending on the city you live in, drivers can choose their vehicle or mode of transportation for completing orders. As an independent contractor, you will be paid a certain amount for each delivery, but you can also earn tips from customers.
Drivers can be qualified to accept orders for Uber Eats delivery and also accept rider requests from the rideshare Uber app.
DoorDash
DoorDash specializes in delivering meals in thousands of cities across the world, including Sydney and Melbourne.
DoorDash drivers are called Dashers. Dashers are allowed to use other types of vehicles other than cars, but it will still depend on city regulations. According to previous Dashers, drivers are paid per delivery and earn well through tips.
Menulog
Menulog is Australia’s widest-reaching food delivery service. The company boasts of covering up to 90 per cent of all addresses in the country, offering delivery of food from over 11,000 restaurants.
As a Menulog driver, you will receive a delivery fee based on the driving time and distance. Your vehicle is required to be a model that is manufactured in 1990 or newer and you must be 18 years old or higher. You must also have a licence and provide a thermal bag for your delivery items. The company does not take any percentage of your earnings, allowing you to keep all of your fees.
Deliveroo
Deliveroo offers delivery of food from an extensive range of restaurants. Food deliveries are expected to be completed in around 30 minutes, with the exception of orders from premium restaurants.
On average, Deliveroo drivers earn $9 to $10 per delivery. Majority of drivers for the app say they earn less than the current minimum wage rate.
Is delivery app jobs the side hustle for you?
When deciding to take a delivery app job as an independent contractor, you must weigh all the pros and cons and other factors to determine if it will be profitable enough for you. You must also consider if the job will be suitable for your lifestyle.
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But before choosing to partner with companies, here are the things you need to consider. 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Write comment (0 Comments) " ["jcfields"]=> array(9) { [1]=> object(stdClass)#5482 (32) { ["id"]=> string(1) "1" ["title"]=> string(17) "Automatic tagging" ["name"]=> string(17) "automatic-tagging" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2018-08-29 05:26:30" ["created_user_id"]=> string(4) "2355" ["ordering"]=> string(2) "-1" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#5210 (3) { ["data":protected]=> object(stdClass)#5224 (1) { ["options"]=> object(stdClass)#5222 (2) { ["options0"]=> object(stdClass)#5221 (2) { ["name"]=> string(3) "Yes" ["value"]=> string(1) "1" } ["options1"]=> object(stdClass)#5223 (2) { ["name"]=> string(2) "No" ["value"]=> string(1) "0" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#5220 (3) { 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["ordering"]=> string(1) "5" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#5256 (3) { ["data":protected]=> object(stdClass)#5259 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#5258 (3) { ["data":protected]=> object(stdClass)#5261 (10) { ["hint"]=> string(29) "Paste your embedded code here" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(61) "/earn-money/side-hustle/delivery-app-jobs-to-make-extra-money" ["image"]=> string(38) "images/article-826x550/UberEats-ne.jpg" ["image_alt"]=> string(37) "Delivery app jobs to make extra money" } }Subscribe to our newletters
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