In my investment consulting work, I speak with many people who want to earn money from a side hustle to increase their savings or borrowing capacity and grow their investments.
 
Instead of hoping for a hefty salary increase, we look at starting a part-time business to bring in those extra bucks. 
 
I believe that helping yourself is the best course of action if you want to boost your income. While dedicating time to your day job may be crucial to taking care of bills, it pays to look for profitability elsewhere.
 
Following these creative strategies can put you in a better financial position:
 
Capitalise on your skillset.

You know what you're good at!

So how about applying your skillset and capitalising on prime earning opportunities? How can you get a business started using your natural abilities and as little financial capital as possible?

• Your first step is to write a list of all the things you're good at.
  
  
• Next, strike the ones off that may not present lucrative business opportunities.
  
  
• From your shortlist, come up with business ideas and start researching ways to get those businesses started.
  
  
• Finally, TAKE ACTION!
  
  

Fill supply gaps for local businesses.

Have one-on-one chats with local businesses and shop owners. Try to understand what they need but can't seem to find the time to do themselves. For example, a clothing shop may need someone to organise garment alterations each week. A café may need produce and baked goods sourced locally and delivered to their store.

Often businesses can benefit from someone taking important tasks off their hands without having to hire another employee.


Advertise via social media.

Design your Facebook Business page and provide information as well as promote products or services.

• For example start a yoga and gym page and share relevant articles. Advertise that you sell exercise mats and other accessories. These products are often available at wholesale prices from online providers.
  
  
• Promote your service business locally. You could offer gardening, delivery, moving, bookkeeping, IT services, cleaning or babysitting.
  
  
• What about teaching, coaching and consulting? Does your day job allow you enough time to see clients in the evenings or weekends? Again you can advertise on social media, letting people know you can help improve their skill. You could teach anything you are good at, from scrapbooking to graphic design. Or coach someone to improve their lawn bowls skills or up their spreadsheet game.

 
Take an investment risk.

Seek an investment worth your time and money.

• Maybe you can find a struggling business that you feel confident you can turn around.
  
  
• Perhaps your investment could be in creating a product that you know will fill a consumer need. Start by writing down 3 product ideas every day for inspiration. After a month or so, you will probably have at least one solid worth developing into a product. Remember, you don’t have to invent the next iPhone; Clips to hold dog treats just above your camera lens and faint-lined poster board were both multi-million dollar ideas.

 
Many successful money-making ventures have started with a simple idea and the determination to build a brighter future.
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If you need help mapping out your venture or marketing your service, feel free to reach out.

Schedule an appointment with me here to craft a plan.


Patrick Loke
Actual Impact Consulting

Have you ever gone into defensive mode after a co-worker or client criticised you?
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Do you remember your walls going up, and all you want to do is shift the focus away from the critical remark.
 
Defensiveness describes ways in which we react towards another person after they criticize us. It’s a coping mechanism that happens after being criticised. As opposed to listening to the criticism, when someone is defensive, they shift focus away from the criticism by criticising back or giving someone the silent treatment.
 
Instead of dealing with the conflict or criticism, defensiveness shows up as a way to protect yourself.
 
Everyone has felt defensive before. It’s a completely normal reaction to criticism. However, in the long run, defensiveness can block us from both connecting to others and growing as a person.
 
There are a few reasons why people may react to criticism with defensiveness. Maybe they did not receive the unconditional support that makes us feel confident as a child. Perhaps there is underlying jealousy or resentment. Defensiveness could also be a result of anxiety or poor assertiveness. Sometimes, defensiveness also reflects guilt or shame that a person wants to keep hidden.
 
Overall, defensiveness stems from fear or insecurity.
 
If someone is defensive, that defensiveness gives them an illusion of control. However, if we are constantly defensive, deflecting criticism or blame, how can we grow or work well with others?
 
Are you wondering how defensiveness might play out in your interactions? There are common types of defensiveness that we might display when we react to criticism.

3 Common Types of Defensiveness: 

1. Direct attacks. These are attacks on the other person's character, ability, traits or history.
   
   
2. Silent treatment. The silent treatment is when silence is used to punish someone and make them feel hurt.
   
   
3. Bringing up the past. This looks like bringing up something someone did in the past to use against them instead of dealing with the criticism or issue at hand.

 
Remember, defensiveness is a completely normal reaction. But it can prevent you from having productive and harmonious relationships. To strengthen your relationships, you can implement different strategies to feel less defensive.
 
Action steps to resolve a disagreement when you feel yourself becoming defensive: 
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1. Practice noticing your defensiveness. The first step to overcoming your defensiveness is being able to notice how it shows up in your daily life. What events trigger your defensiveness?
   
   
2. Breathe. When you notice yourself feeling defensive, calm your nervous system by taking a few deep breaths. Slow, measured breathing is known to have a soothing physiological and psychological effect.
   
   
3. Identify the feeling. When you notice yourself becoming defensive, pause before reacting. Think about what feelings are triggering the defensiveness for you? Are you defensive because you feel misunderstood? Unappreciated?  
   
   
4. Think about the intention behind a comment. Sometimes, we hear criticism from someone else and immediately perceive it as an attack. But what is this person really saying? Take a moment to reflect. Are there different ways you can interpret what they said?
   
   
5. Take responsibility. Most importantly, accept responsibility for the role you play in each situation. Learning to take responsibility can help you grow as an individual.  

 
Feelings of criticism may arise of any relationship, business or personal.  They manner in which you respond to those feelings will determine whether they lead to a destructive or constructive outcome.