If this headline grabbed your attention, then probably you're already a trader or stock market expert of some sorts. Let us first make you aware of the power you have, one that you have worked for and created yourself.
Finance is an inescapable part of one's life. Whether one is earning in thousands, lakhs or crores, one needs to know how to manage money well and more so, how to grow it. A trader and expert already knows how to leverage capital using various instruments in the market to generate income in the short term and wealth in the long run. Someone who is on the path to learn trading and investing or has already mastered it is at a massive advantage.
If you already know how to trade well and consider yourself an expert, we have something for you. Though you may be happy with the money you're making through trading and investing, what if we told you that there are ways to generate more sources of income (mostly passive) just by leveraging what you're already good at.
In this day and age, it is easier than ever to freelance with your skills and create a business out of your skills. Not only can you generate more income, but also have an influence over so many people you engage with!
How, you may ask. Let us tell you!
1: Be a Finance Content Creator
It's the age of content and the advent of creativity. If you're good at something or just want to voice out opinions, the internet is a great way to distribute your knowledge, leverage your audience, and possibly make you a millionaire. The knowledge you may consider obvious, may be like a pot of gold to who needs it.
There are different mediums through which you can produce content and share it on the internet, which can reach and benefit many people looking for it. You're not just sharing stuff, randomly, but actually helping and solving problems of people. Some mediums to consider are:
* BLOGS: Though it's relatively cheap and low effort to write content on your blog, if niched down well and used SEO (search engine optimization) to your advantage, it can be a great tool to grow a loyal audience. You can sell stuff too, for example an ebook.
* YOUTUBE: One of the largest search engines on the internet, 70% of internet users prefer learning in video - form because it is easy, fast and engaging. If you make videos that actually help people by creating content around the fundamentals and tricks of growing money, you can gain many subscribers and even earn through AdSense (YouTube's way of rewarding you by giving a part of their ad revenue). Won't lie, it's harder to make videos in the beginning, but once you get the hang of it, it's not only fun but rewarding too.
* SOCIAL MEDIA: Platforms like Instagram, Facebook and Twitter are excellent ways to market your content that live on the above mentioned platforms. Not only that, you can create fresh content (like tips & tricks) on these platforms itself, to gather a loyal fan base.
Creating content enables you to build and display your authority to the public. It not only helps them in learning from your expertise, but you become a source of attraction to a lot of people who want to reach the audience you already have, i.e. brands. One of the best ways of passive income, brand collaborations mean that brands pay you to advertise their brand to your audience. The larger and engaging the audience, the more prestigious brands you can fetch, most paying a handsome amount of money.
Some brands also offer affiliate programs, where you get a commission for every item you're able to sell. For example, a brokerage firm may reward you with 20% of revenue generated for every new Demat account opened through your channel.
Gathering a loyal group takes time, but once achieved can be leveraged in one more lucrative way, like teaching.
Once you have built your authority and credibility as a trader, people would be interested in learning directly from you. Content can just be a medium to show a glimpse of your skills that you can help them get equipped with.
There are many ways you can teach. It can be a one on one session or workshop where you help a person learn trading, from basics to getting them familiar with the advanced techniques you use. Though you can earn well through a private coaching arrangement like this, there is a limit on how much time you can give and it would be advisable to teach more people together, in a group. Webinars and short courses are a great way to do just that. If you're good at it and your students are benefiting from it, constantly seeking your advice, then you can also consider opening an academy for doing the same. Not only teaching is enjoyable, but this can be a new beside business altogether!
Needless to say, there's no better way to recall and sharpen your knowledge and techniques than teaching others.
3: Share Tips to paying subscribers
Teaching can be an extensive job and may not be suitable for everyone. Content creation too, can be something that may take up time and effort and you may start dreading it if you don't enjoy it.
Guess what? People, too, are tired of long form content. They would rather prefer getting short tips and trading directly instead of learning everything. You can create these tips and share it on a website, messenger bot or other groups but that can be a tedious process. Building a page and converting them to paying subscribers can be a tough task.
But thanks to Tribe, there's another way of monetizing your skills! All you need to do is share your stock tips on the platform and people who seek such tips can not only trade on your tips directly , but also pay you a subscription fee. Requiring hardly any effort in marketing/branding and a super easy way to share these tips, you can also share it across your social media in not more than a click. You may not even need to employ anyone to maintain your Telegram channel and all those social media channels.
Here is a glimpse of it:
Remember! The more accurate your trades, the more people will trust you and the more patreons you will earn.
4: Live Trading
Some people who want to be good traders would like to know how an expert trades. The strategy an expert uses, the time frames and the different conditions that help an expert take a decision is of much value to a learner. A great way to serve this cause will be: live demos.
As a trader, you can record your screen and live stream them that enables others to see how you execute your strategies. You can also keep providing tips related to entry / exit points and teach how to analyze different situations in the market.
Streaming is the most ideal on YouTube. This is not only a way to gain audience and views, but also there are chances of earning ad revenue. People can simply take ideas from your trades and execute their own.
This is helpful for a learner, but what if there was a way for students to execute trades directly through your tips? Well, something like that is coming soon on Tribe. Stay tuned!
In conclusion, we would like to remind you that there is a way of making more sources of income by leveraging your existing skills. Though consistency and iteration is required, you can easily build extra income or even a business, if your efforts are put in the right direction.