2020 Gems & Looking Ahead

2020 Gems & Looking Ahead

2020 has not exactly been a gem of a year but cheers to the light around the corner.  

Sometimes (OK, always) I tend to go down a rabbit hole when I find interesting articles and resources so I wanted to share a few things I learned along the way.

1. Tiny Habits Coach to Achieve Goals:

Big goals can be overwhelming so breaking them down to smaller habits is more effective according to BJ Fogg, a behavior scientist at Stanford. BJ wrote “Tiny Habits” in 2019 and there’s a formula to follow to get to your end goal. We spoke on the phone in July and he gave me insights on how to create more habits that turn into consistent positive behaviors. We wrote about his research on behavior design and his steps here.

Right now he’s offering a free coaching series for 5 days. He has certified coaches that you can choose based on your needs and can participate in a 5 day “Tiny Habits Challenge” one on one.  Sign up for it here.  If you want to learn more about BJ Fogg, he’s been interviewed on several podcasts and videos.  

2. Building a Business or Startup:

I was lucky to be accepted into a startup course called Founder Institute in the Fall.  Although I left the program after three months, I learned so much from my cohort and the content provided. One article (Forbes 2013) is a comprehensive guide that discusses the steps to take when considering startup ideas. I’ve sent this to friends who are startup curious and they’ve found it valuable.

  • What Are The Best Ways to Think of Ideas For a Startup?  Forbes
  • Naval Ravikant is the CEO and co-founder of AngelList. He’s invested in more than 100 companies, including Uber, Twitter, and Yammer.  I learned about him through a podcast by Shane Parrish of The Knowledge Project. If you enjoy listening to deep thinkers, his interview is excellent and was one of their most popular episodes.  Naval Ravikant: The Angel Philosopher [The Knowledge Project Ep. #18].  There’s a book about Naval’s life philosophies and his compilation of wisdom about wealth, taking risks and leadership among other things.  His book can be downloaded for free here
  • If you’re searching for topics on self-development and business-related topics such as strategy, and creativity, this is an excellent resource I found on Twitter.  It was compiled by Steve Schlafman of High Output, a leadership development firm. The curated list:  Bookshelf Recommendations
  • If you’re wondering if you should start a business, this article explains why midlife is a perfect time. Sheila Callaham is a Forbes Contributor and was one of our webinar guests and wrote about the ideal age to found a company. Why 50 is the Best Time to Found a Company - Forbes

3. Future of Work & Longevity:

Since work is no longer a guarantee of material security, how can we empower ourselves and keep earning money?  Living longer and healthier lives is a good thing but with a retirement crisis, how can we remain financially secure in midlife?

  • We wrote about areas of growth in the future of work and focused on the non-technical opportunities here.  We also wrote about the Passion Economy and how this is a trend for people to earn money.  One reason is because access to no-code technology tools makes it so much easier to get started.
  • Gartner outlined the digital skills that will be needed in the future - beyond IT positions.  Lack of Skills Threatens Digital Transformation.
  • If you want to geek out about longevity and the impact the changing work demographics will have globally (and possible career ideas), check out the 2020 Stanford Longevity Century Summit.  It’s a free recording of the event and includes experts from all over the world.

“A report by the World Economic Forum indicates that by 2022 the job skills most required by employers will include not only proficiency with new technologies, but also creativity, emotional intelligence and critical thinking skills. The report also found that over half of all existing workers will require significant reskilling and upskilling to meet the demands of the changing labour market.”

We’re staying open to new possibilities and ideas in 2021 and want to hear from you about topics you’re interested in learning more about. Also, if you’ve found resources that you consider gems in a bummer of a year, we’d love to hear about them. Whether it’s for personal or professional development, please reach out at hello@illumehire.com

Happy New Year!

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Dialing Up Courage

Dialing Up Courage

In 2020, it’s no wonder “doom scrolling” has kicked up a few notches. The pandemic, layoffs, riots and forest fires this past year have caused many people (including myself) to occasionally slip into fear. Controlling our fearful mindset is possible according to several social scientists. Fear can help us to survive of course, but the challenge is discerning which fears are serving us and which ones are holding us back. How do we recognize helpful survival mode fear and useless ego based fear?  How can we build more courage moving into 2021 in order to accomplish brave new goals?

Courage is action in the presence of fear and doubt, not their absence.  Here are a few ways to build up our courage muscles to help push through and take action. According to Maggie Warrell, Author and Phd in psychology, here are steps that can help build courage:

  1. Gain Clarity:  Write down exactly what you want and envision it. Make it a specific goal you would like to achieve in the next 6-12 months. The more detail describing the goal, the better. 
  2. Daily Bravery Practice & Small Steps: Daily mental and physical habits are important in ordinary times but in tough times when so much can throw us off, it’s even more critical. Start by writing down what might happen if you DO take action toward that giant goal. Break down your vision into smaller more manageable steps in order to tackle it.  Afterall, difficult tasks take time. 
  3. Envision a Future Self: Take a moment to envision your future self about how you need to be brave right now. Imagine it’s two years from now. Picture yourself in your favorite place looking back on this moment right now. What advice would your older, wiser, future self give to you in your current situation? 
  4. Identify and Own Fear: Ask what will happen if I face the fear.  Maggie wrote, “notice the uncomfortable emotions you’ve been feeling and give each a label. Anxiety. Hopelessness. Overwhelm. Sadness. Resentment. Apprehension. Stress. Fear. . . As a UCLA study found, the very act of naming your emotions helps to tame them. So label what you’re feeling and notice where it’s sitting in your body.” 
  5. Surround Yourself with Giants: If you want to live a bigger life, you need to surround yourself with people who ‘think big’ and will encourage you to do the same. Accordingly, you’ll want to avoid any people in your life who may discourage your actions and step on your dreams. While they are really just afraid that you will leave them behind, as you start out, you should steer clear of people who will fuel anxiety and feed self-doubt. Never let anyone diminish you or your dreams.

When we choose to see the possibilities instead of dwelling on fear, embracing change is so much easier. Melanie Greenberg, Ph.D., is a psychologist, and author of The Stress- Proof Brain wrote, “Research (Kobasa 1979) suggests that resilient people have three important characteristics—commitment, challenge, and control. Commitment involves having a passion for what you do that allows you to stick with it when things get rough. Challenge involves viewing your stressor as a challenge, rather than a threat (which helps your amygdala calm down and generates positive emotions, such as hope and excitement). Control involves investing your time and energy in changing the things you can control, rather than trying to change the unchangeable.”

Achieving anything worthwhile takes small brave steps and we all know being uncomfortable isn’t fun. But as we start taking action, we discover that we’re capable of more than we thought. It all begins with a single act of courage.

“Without courage we cannot practice any other virtue with consistency. We can’t be kind, true, merciful, generous, or honest.” 

- Maya Angelo

 

We started illume hire in April 2020 with positive thoughts and big plans for action. We’re planning to keep that going in 2021 as we encounter interesting opportunities to use our bravery muscles.  

Happy Holidays!  We’ll be out next week but we’ll be back on December 31st.  

- Nick & Emily

Reviewed & Recommended:

Forbes: How to Find Your Courage in Challenging Times

Damon Davis TED talk: Courage is contagious

Collection of podcasts by Maggie Warrell

Netflix Series: Brené Brown: the Call to Courage | Official Trailer [HD] | Netflix

 

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The Passion Economy is Trending

The Passion Economy is Trending

With the job market being so tight, looking at new trends and creative ways to develop revenue streams is worth studying. I used to dismiss things like earning money on Substack or Medium. Here’s the thing, according to Li Jin, Partner at a venture capital firm called Andreesen Horowitz, the top performing writer for Medium earns about $500k per year.  Not bad. The interesting thing is that these types of businesses that are able to attract an audience (a niche audience, not necessarily a gigantic one) weren’t possible five years ago.  

What is the “Passion Economy” 

The Passion economy is much different than the Gig economy. The major difference is that a gig job is limited to a specific number of times and number of people but in a passion economy, one can reach a much wider audience if a creator desires. Although the “passion economy” sounds like a Utopian world where anyone can work (and get paid) for the things that they love doing, it’s more than that. It’s about creating careers driven by a person’s core interests and beliefs. It’s an opportunity to leverage your unique skills and your individuality. It’s also about creating value. According to a recent Forbes article by Benjamin Vaughan, it’s described as the following: “The passion economy is a new wave of niche communities that are challenging traditional social media giants. Instead of the generalised and non-specific content of larger social media platforms, the niche communities focus on creating and sharing content that resonates with individuals.” There’s a matrix in this article with examples of the Gig economy vs the Passion economy.  

Why Now?

Why is this happening? Why are there niche communities focused on a specific topic?  One push towards this model is because we’re ALL spending more time online and we’re craving more connection with others. Ten months of isolation has definitely helped nurture this trend. There’s another reason. As consumers (of content especially), we crave something different. Another reason? The technology is accessible. Today, there are no-code websites and free app builders that have reduced the need for software engineers just to get started. There are so many free tools available in design, video editing, and loads of other production tools to use. Because of this, creating engaging content has become much easier than in the past. Nick Burling, of illume hire, wrote about no code tech tools here.  Going through these tools and seeing the possibilities may spark an idea. For example, we have been curating amazing resources for our readers and Nick told me we could create a mobile app with all of that content at no cost. How cool is that?

5 Elements of the Passion Economy:
  1. Accessibility: Being online with our devices is easier than it was ten years ago.
  2. Individuality: It’s about being unique and leveraging your skills and interests.
  3. Availability: Digital products and platforms for creators (many of which are free) with minimal technology know how and effort
  4. Get Curious: Before saying, “I’m not tech savvy”, try it out. Challenge yourself.
  5. Career Opportunities:  This is a chance for creators to develop revenue in an area they know and love.  

If this is truly the future of work, count me in.  Being curious about new technology products that can help anyone create a healthy revenue stream is the key.

As Benjamin Vaughn of Forbes recently said, “Though it is still in the early stages, monetising interactions instead of goods and services seems to be the predominant shift.”  Cheers to that and to all things related to an exciting passion economy.

Reviewed & Recommended:

Li Jin of Andreesen Horowitz talks about the passion economy and examples of different tech tools being used by everyday people to earn cash: The Passion Economy and the Future of Work

A video about the passion economy and why it’s interesting: Adam Davidson and Li Jin discuss the Passion Economy

An article from Forbes on The Rise of the Passion Economy

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Recap: Happy Hour with Sheila Callaham

Recap: Happy Hour with Sheila Callaham

Happy Hour Series with Sheila Callaham

Recap: 3 Communication Tips During a Crisis

Last Thursday, we had the privilege of having Sheila Callaham as our guest on illume hire’s Happy Hour series. Sheila is the Executive Director and Board Chair of Age Equity Alliance.  AEA is an organization partnering with companies, communities, and government agencies to build age equity in the workplace. Sheila is also a contributor to Forbes, writing exclusively for the Diversity and Inclusion channel. She also served on The Conference Board’s Council of U.S. Diversity & Inclusion Executives, and the board of the North Carolina Hispanic Chamber of Commerce. I’ve paraphrased the event below.

The theme discussed was 3 Communicating Tips During A Crisis:

  • What it Takes to Communicate Effectively
  • How to Approach Difficult Conversations

Questions:

Why should a focus on communications be important when there are so many other things we need to be thinking about? And what about this topic is especially important for midlife career professionals?

  • If you have good and consistent communication practices, it’s going to help when issues arise - no matter what age you happen to be.
  • When you’re under stress, your body tends to react in a “fight or flight” response so when you name it and recognize it, that can help in communication efforts.
  • Knowing ahead of time how your body responds to highly stressful situations will help to mitigate an inappropriate vocal response.
  • Know your end goal with the other person and practice it.
  • Trying to recover from a bad communication experience is much harder than planning for it ahead of time.
  • What can we do when we’re in that situation?  Take a deep breath and ask permission to come back to the conversation later.  If you’re so stressed and can feel your heart pumping and body responding, then you know it’s time to step away from the conversation.

What are the three most important factors in successful communications?

  • Timing of the conversation is huge so consider where that person’s mental space might be at that moment. Is it better to approach a discussion later in the day or early in the morning?
  • Ask powerful questions because when you do so, it gives the other person a voice. And this makes the other person feel respected and it can build trust.
  • Focus on the goal of connection and ask powerful meaningful questions
  • Understand where their resistance is coming from in order to learn more about the other person’s viewpoint.
  • Sometimes people resist because they don’t understand the purpose or where you’re coming from in a situation.
  • If there’s informational disconnect, take a harder look at that to help resolve it and gain more understanding.
  • Ask questions like “What part of this do you know feel comfortable with?” and “What would make you feel better about this?”
  • Another reason why people resist is “emotional resistance” and this can happen in change management.  When change happens, it can be stressful and the whole idea is to articulate why it’s going to be better on the other side.
  • Realize there’s something called “judgemental resistance” which is caused by a lack of trust and ask yourself why this may be the case. If you think about the political environment now, people will not listen to the other side. When things like that happen, it’s great to ask more questions like “What would it take to get you on board?”  That is a good time to bring in stakeholders to help communicate.
  • Sheila talked about tone of voice and how people adopt their communication style based on where they work. Her example was working for the military and when she moved into the private sector, she was told she didn’t need to communicate in a way that was similar to what she had been doing at her military job.

How can we get better at approaching “difficult conversations”?

Sheila worked for 15 years in pharma at GSK. She went through a training course on “constructive contention”.  When it’s uncomfortable, people want to avoid it. Many people have not experienced a constructive contentious conversation when there’s an agreeable outcome. The key is to NOT run away. Stick with it and ask questions and be calm.

In business, there is often someone responsible for “crisis communications.” How can we leverage what they do for personal crisis conversations as a professional?

  • In corporations, it’s all about reputation management.
  • For crisis communication to be successful, you need to to focus on four things: 1) Quick response 2) Being authentic in your response 3) Take responsibility 4) Be part of the solution
  • Don’t let things fester. Talk about it.
  • Sheila cited corporate communication examples.  British Petroleum oil was one example of a slow response and not being accountable as a bad example of crisis communication.  The CEO was defensive about the explosion. They did not have an emergency plan and they even admitted they didn’t have a plan. People were angry about their response and 12 people had died. They did not respond quickly at all. They had completely missed out on communicating properly.
  • Sheila cited Tylenol as an example of positive crisis communication.  Someone had tampered with Tylenol and inserted cyanide and as a result, seven people had died. They recalled $100M worth of product, they got the FBI involved to find the culprit and acted quickly and authentically. They lost loads of market share but they were honest with the public and took responsibility.   

Communication is more than just the words we use. What other things do we need to be thinking about how to ensure successful communications?

  • Tone of voice is important
  • Body language is important so if you need to have a hard conversation then it’s important to ask for a video call so that you can see how they respond.

We discussed how we should communicate during challenging times. What are some things we should NOT do that we need to think about?

  • Don’t respond when emotional
  • Ask for time to reflect and to come back to the situation to discuss logically
  • Create space to think about the conversation and where you want it to go
  • Remain calm
  • Be positive
  • Your goal is to help so articulate your goal and desire for a positive outcome

 It’s hard to judge how a conversation went. How can we really know if it was successful or not?

  • Repeat what was said to gain clarity
  • Be committed to the outcome.
  • Trust in yourself that when you communicate, it’s successful
  • Ask them, “How do you think our meeting went?”
  • If it’s a contentious meeting in a team setting, go back to them and say, “What could I have done differently?”  There is trust that is built when managers admit their mistakes and go back and ask for feedback on how they could improve the situation.
  • In a conversation, you always want to be a good listener.  Listen fully and try to make the conversation 50/50.

 

Other tips:

When/if people talk over you, how should you handle it?

  • Say, “I have something I’d like to contribute” or “Will there be a point I can talk?”  
  • After the person has finished interrupting, you could say, “As I was saying... “

How can we communicate better in a Slack world?

  • If someone is combative, maybe don’t respond at all
  • Remember that you don’t have to have the last word
  • Be curious about others and where they are coming from
  • Make a phone call to reach out to them instead of Slack or Zoom to gain more clarity
  • Know that if you feel resistant to someone else’s idea, there’s a learning opportunity there and an opportunity to grow.

 

Where to Find Sheila Callaham’s work:

 Age Equity Alliance

LinkedIn 

Sheila's Twitter

Forbes – Diversity Equity & Inclusion + Aging Workforce articles by Sheila Callaham

Sheila’s Communication Tips: 9 Communications Tips by Sheila 

 

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On Gratitude

On Gratitude

When I lived in San Francisco, I used to attend Glide Memorial church in the Tenderloin. I loved it because it was a self-proclaimed “counter-culture” church. There were people from different walks of life and Glide celebrated and accepted everyone. I’ll never forget seeing Reverend Douglas Fitch dance on the stage saying, “Ya’ll need to have an attitude of gratitude!” causing everyone in the pews to laugh and cheer him on. It turns out, he was right. Having an “attitude of gratitude” doesn’t cost anything and research indicates that the benefits of gratitude are enormous. It affects all aspects of our lives - which is why it’s often discussed in psychology circles. The impact of having a sense of gratitude has the potential to increase our basic happiness.

Shifting our mindset to something we’re happy about right now in our current situation is a start. Not always easy during a pandemic and when searching for a job but if we’re always looking for what’s next and always reaching and striving to attain big goals, it’s not an emotionally healthy place. It’s about recognizing the good instead of focusing on the bad. It’s about setting aside time in your day to write down what you’re most grateful for or even say it out loud in your private space. Research indicates that gratitude is so beneficial to our well being that it affects our sleep, it reduces depression and aggression. It even improves self-esteem and mental strength.

“Cultivate the habit of being grateful for every good thing that comes to you, and to give thanks continuously. And because all things have contributed to your advancement, you should include all things in your gratitude.”
― Ralph Waldo Emerson

So if it’s so important to have a sense of gratitude for our overall wellness, how do we cultivate more of it? Here are a few ideas taken from Harvard Health Publishing.

5 Ways to cultivate gratitude:

Gratitude is a way for people to appreciate what they have instead of always reaching for something new in the hopes it will make them happier, or thinking they can't feel satisfied until every physical and material need is met. Gratitude helps people refocus on what they have instead of what they lack. And, although it may feel contrived at first, this mental state grows stronger with use and practice.

Here are some ways to cultivate gratitude on a regular basis.

  1. Write a thank-you note. You can make yourself happier and nurture your relationship with another person by writing a thank-you letter expressing your enjoyment and appreciation of that person's impact on your life. Send it, or better yet, deliver and read it in person if possible. Make a habit of sending at least one gratitude letter a month. Once in a while, write one to yourself.
  2. Thank someone mentally. No time to write? It may help just to think about someone who has done something nice for you, and mentally thank the individual
  3. Keep a gratitude journal. Make it a habit to write down or share with a loved one thoughts about the gifts you've received each day.
  4. Count your blessings. Pick a time every week to sit down and write about your blessings — reflecting on what went right or what you are grateful for. Sometimes it helps to pick a number — such as three to five things — that you will identify each week. As you write, be specific and think about the sensations you felt when something good happened to you.
  5. Meditate. Mindfulness meditation involves focusing on the present moment without judgment. Although people often focus on a word or phrase (such as "peace"), it is also possible to focus on what you're grateful for (the warmth of the sun, a pleasant sound, etc.).

Cheers to more gratefulness in all our lives. Happy Thanksgiving, everyone!

-Emily & Nick

Reviewed & Recommended:

A New Study Busts All Your Excuses for Not Saying Thank You More

Helping Others Can Help You Cope with Lockdown

7 Surprising Health Benefits of Gratitude | Time

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Cultivating 7 Revenue Streams

Cultivating 7 Revenue Streams


Arlan Hamilton, age 40 is the Founder of Backstage Capital and she has talked about her lifelong goal of having seven different revenue streams in order to diversify her income.  When she published a book in May, she revealed that her book was her seventh income stream.  If you don’t know about Arlan’s story, check out her amazing rags to riches story here:
How This Woman Went From Homelessness to Running a Multimillion-Dollar Venture Fund

Why seven revenue streams?  Well, it turns out the average millionaire has seven revenue streams so it’s a good goal to have to be financially secure. Beyond owning an airbnb unit or relying on stock dividends, there are several different strategies to consider (and we hope more attainable).  We set out to learn about additional ways to bring in some money during this odd time.

  1. Acorns app:

    Using the Acorns application on your phone is a passive way to earn money.  It allows you to invest spare change automatically (if you opt in) and lets you invest as little as $5 any time or on a recurring basis into a portfolio of ETFs (exchange traded funds). Your investments are then diversified across more than 7,000 stocks and bonds, and Acorns automatically rebalances your portfolio to stay in its target allocation.  When you sign-up, the app recommends the right plan for you based on your goals, employment, and income.  There is a “Lite” version for $1 a month so it’s a great way to try out investing on a smaller scale.  Several friends of mine use it and have saved thousands of dollars by investing small $5 and $20 amounts over time.

  2. Teach a Course for Money:

    Have you ever spent thousands of dollars on a class and wanted to share the knowledge you gained with others?  Me too and getting paid to share knowledge sounds even better. There are several ways to go about teaching something you already know or have recently learned and want to share with others.  If your course is popular, it could garner several thousand dollars a month. The top three platforms to earn and teach are the following:

    Udemy - Udemy accepts payment through PayPal or Payoneer and uses a revenue sharing model. You’ll earn the most if you sell directly to students using an Instructor Coupon. If students find your course through Udemy’s marketing, you’ll earn a little less.

    Skillshare - Like Udemy, it’s an online course marketplace that advertises your classes to students around the world. Skillshare uses a royalty system, meaning your earnings will vary based on the amount of watch time you receive from Premium members.

    Teachable - Teachable walks through the course creation process. Teachable doesn’t take variable fees from your earnings. While that is a bonus, it means that you’re in charge of marketing your course.

    As Ian Chandler wrote in his blog “Wealthfit”, “Let’s say that just 1 in a million people is interested in learning from you. That doesn’t sound good, right? But also consider that 3 billion people are online. So even if just 1 in a million people wants to learn from you, you have an audience of 3,000 people! And multiply 3,000 by the price of your course, and…well, you get the idea. It adds up.” For more tips on earning while teaching, see this article for tips for success: Create and Sell Online Courses: 4 Steps to Get Paid to Teach Others

  3. Build An eCommerce Shop:

    Shopify If you know about Shopify, you probably already know how easy it is to set up an online store since they walk through each step including ecommerce setup. They can also market your products for you.  It’s an incredibly easy platform to use and so if you want more control over selling your items, it’s an amazing platform.  They have a dedicated line to help people get set up as well.

    CafePress:  CafePress allows you to sell items that feature a digital design. If you're a great graphic designer (or a wannabe graphic designer like me), you could create a number of designs that would fit different formats such as shirts, hats, and cups, and earn a commission when they sell.  If you have an idea for a design, it could be created using canva.com and uploaded into CafePress.

    Bonfire:  If you have a cool t-shirt design in your head and don’t want to carry the inventory, check out this site for a bit of added income. Sell Shirts Online | Design & Sell T-Shirts Without Inventory

    Without it being an obstacle for those who may be less tech-savvy, people can create a storefront within a few hours and many who take advantage of this option can earn $500 to over $1000 a month.  It takes some time to set up but if you harness your curiosity and have a creative bone in your body, it’s well worth it.

  4. Write a Book or an Ebook:

    Ever had an idea that you were dying to write about but didn’t think you could pull it off?  Before you roll your eyes, consider that if you’re able to write 200 words a day, for ten months, that could easily add up to be a book. During the pandemic, it’s been on many people’s accomplishment lists so why not?  If you’d rather write an ebook, that’s a great option too.  I recently bought one for $30 on digital marketing and noticed she’d sold over 500 of them.  Not a bad way to gain more money based on her expertise.

    Here are some curated articles on how to write a book or an ebook topic:

    How to Write a Book [Step-By-Step Guide] by a 4X New York Times Bestselling Author

    How to Write a Book: 13 Steps From a Bestselling Author

    How I Made $2,000 by Self-Publishing an Ebook on Amazon

  5. Create a Podcast:

    When you are passionate about a niche that you know is not a super common topic, see if it’s a topic in a podcast search.  As Seth Godin once said, “Small is the new big” meaning if it’s a niche topic, go for it. I bet millions of midlife Americans are interested in moving to Europe post-pandemic for example.  What would they need to know about to make that dream happen?  Check out https://www.listennotes.com/ to see if your particular interest/topic you want to discuss already exists. Oftentimes you may be surprised. For example, there aren’t too many podcasts that cover midlife advice.  Not only is the population huge in this age group but it’s also a unique stage of life. According to Statista, 22% of people age 55+ are podcast listeners and this is predicted to grow by 10% over the next few years.  To learn about the different revenue models when creating a podcast, check out these articles on how to do it successfully:How to Generate More Revenue from Your Podcast | The ManifestHow Do Podcasts Make Money in 2020? Here Are 8 Intriguing WaysA few more tips here on how to make money from podcasts: 12 Ways to Monetize a Podcast - Plus My Actual Results

  6. Produce an Audiobook:

    ListenUp Audiobooks is an option for authors. In addition to working with traditional publishers, they work with small publishers and authors on a fee basis, and can also handle distribution to Audible owned by Amazon. Of course, Amazon has a platform that helps create and sell audiobooks on Audible and iTunes and it’s called ACX. They have a higher royalty fee though. If you have a great idea and can teach a difficult skill like stock trading, or online marketing, you can create a significant monthly income with the right volume of audiobooks.

  7. Do Small Jobs Online:

    Amazon's Mechanical Turk platform is one way you can earn money.  It won't earn you loads but if you're looking to take on smaller jobs that can be done in a few minutes each, by piling them together, you could earn some cash that might help add to your monthly revenue stream.

Play around with different ideas and different platforms. It’s a great way to learn how to adapt, learn, and grow revenue using different tools.  It’s possible to gain a following about something you already know.

Reviewed & Recommended:

Here’s a video about other types of revenue streams for the savvy investor:

The different types of income streams + Ideas to increase your income

Online Business Tips:

The BEST 4 Ways To Make Money Online In 2020

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