How to create extra streams of income.
AzimaWellness Financial Titbits ; How to create extra streams of income.
The low hanging fruits in this economy.
1. Invest in your skills & Talents
Tap into the growing market of content creation.
For this I introduced us to writing articles and got a deal. We were to be trained free to be bloggers and make 10,000 per week. Writing kwa jam on your way home. This is 520,000 shillings per year for 52 weeks.
Then invest the 520,000 in stocks/bonds/ low capital businesses.
If you have any talents (we all have them if you look inward), invest in personal development to perfect your gifts and they will make good money for you. With minimum effort.
Example; Am paid to speak; am a conference speaker; there is good money in this space. The list they pay is 10k per hour.
2. Monetize your social media engagements.
Create a big following on social media and monetize it. YouTube, Instagram, Facebook, Google and others pay you for placing adverts on your site if you’ve good page viewers. Have a busy page with high traffic and you get paid good money per month. Then invest your earnings to make more money.
Example Caroline Mutoko is making serious money from her YouTube channel.
3. Invest in shares at the NSE.
We show you how to do this. How to pick wining stocks. We have a desk that tabulate shares performance and give predictions on what is likely to happen in the near future. When to buy and when to exit a counter.
4. Investments/Passive income.
There are many low hanging fruits here
a) Start a furnished office to rent out or a meeting place. Take a room that you pay for monthly e.g Tumaini Chambers, or Norwich Union. Meeting rooms are given in tranches of 4 hours. This gives you 3 sessions per day
-During the Morning- it’s a Training/motivation talk’s venue. During the day classroom for various training on personal development.
-Evenings it becomes a social meeting place for funerals and fund raising meetings.
5. Seek companies you can invest as a founder member.
You invest in existing companies before they go IPO. This is the best way to multiply your money. Place your money in growing companies e.g listen to the story of Peter Nduati of Resolution Health.
We help you identify such opportunities and make passive money with them. Your money working for you as you does what you know best. But you must have some savings to do this.
Start from where you are with what you have. Start with your house. If you have rooms you are not using, make them available for Airbnb hosting. In Nairobi they pay anywhere between 20 to 50 dollars per night depending on size and location of facility. This is good money per month.
$20×30 = 600 dollars. Translating to 60,000 shillings.
60, 000 per room in a month is good money.
If you have two rooms this is 120k per month
If you’ve a small house, you can look for a bigger house with extra bedrooms and offer them to guests
If you value your privacy and have a big house (like mine) and children are grown up now, move into a smaller house and put you current house on Airbnb. The returns are super!
See the examples bellow for incomes from Hiring conference halls. Tumaini Chambers and Norwhich Union properties.
For hiring Tumaini chambers room 6a, the charges are 1,740 shillings per 4 hour session. We can have 3 sessions per day.
For the 3 sessions the charge will be 1,740 x 3 = 5,220 per day.
In one month, the figures will come to, 5,220 x 30 = 156,600
In one year 156,600 x 12 = 1,879,200.
This kind of business does not require high staff. Only one lady is tosha to clean office and show clients around. Booking is done online for Norwich union towers
Rent 45,000 x 12 = 540,000
salaries 30,000×12 = 360,000
profits proceeds 1,879,200 – (540,000+360,000) = 979,200. Shillings
8. Long term investments .
This is a good way to make money for buying a house or to build a retirement home stress free.
We lease land in Mau forest or Nyandarua at 10,000 shillings per acre per year. We lease it for 15 years. Plant 1,600 trees per acre.
After 2 to 3 years, harvest half to create spacing and sell to builders for shutter and to make ladders. After 7 years harvest and sell @ 4,000 per tree.
The branches you sell to schools for firewood @500
4,000 x 800 = 3.2 million +
Kuni @ 500×800 = 400, 000 shillings extra income.
After the harvest, the trees shoot again. Allow 2-3 shoots, harvest 1 on each after 2 years and sell like during the first crop.
Allow 1,600 to grow to maturity.
1,600 x 4,000 = 6,400,000
kuni @ 500 x 1,600 = 800,000
Total minimum income after 15 years= 10,800,000. Shillings
Less the following costs.
Profits: 10,800,000 – 277,500 =10,522,500 shillings in 15 year’s time.
This is enough to buy a house anywhere or take you to holiday around the world.
Still need more options?
I will share later if you implement any of these
To be continued.
With Profound Regards;
Coach Maina Azimio.
ICF- Accredited Certified Professional Coach,
Conference Speaker and Corporate Trainer in Wellness.
Tell: 0704 561 095 or 0722 516 896
websites: mainazimio.co.ke/ azimawellness.com
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