It’s been said that an entrepreneur is someone who sees opportunities where others see problems. Envisioning and creating a thriving business venture out of a simple concept is definitely a skill that can lead you into a great fortune. Unfortunately, many people lack this insight and miss out on profitable ways to earn income.

As a financial advisor, I am always on the lookout for new money-making ideas to share with budding entrepreneurs. Recently, Nuff Hope Limited, the business arm of Swallowfield Chapel, held an informative seminar which exposed dozens of business opportunities available in Jamaica.

Evadnie Sterling, chairman of Nuff Hope, explained that the church started looking at ways to mitigate the effects of the economic downturn on its ministries and community. “Nuff Hope was established to encourage and facilitate entrepreneurship,” Sterling noted.

Sterling revealed that the recent business workshop had exposed some 70 innovative ideas to aspiring business owners. “Out of this effort, over 150 persons will be embarking on training to better equip them to undertake these income-generating projects,” Sterling confirmed.

Over the next two weeks, we will look at some of the exciting business options that were highlighted. Today, we will show you how to make money right from your bedroom.

In these financially challenging times, it’s important to be able to earn money with little capital expenditure. Running a business from your home can give you a distinct advantage from the person who has to travel to work and pay high rental fees. It’s even better if you can turn common household items into money-making machines.

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Making Money With Your Telephone

Charles Bromfield, real estate developer and entrepreneur, showcased some of the ingenious things that persons can do to make money. He revealed that a telephone had tremendous possibilities to generate income. “The phone is the single most important device for people doing business,” Bromfield affirmed.

Here are some of the ways an enterprising person can make money from using their telephone right at home:

Debt Collections: You can provide a service to companies by calling persons who owe them money. Bromfield advised that the perfect candidate for debt reminders should have a stern voice, a disciplined approach and good follow-up skills.

Virtual Assistant: You can help other small business persons to make appointments, follow-up calls, answer messages and other telephone-related tasks. Bromfield explained that if you were organised, determined and persistent, you could easily manage four or five clients per day.

Phone Sales: You can help to market and sell your clients’ products on the phone. The ideal person for this task should be quick at learning about the products, proficient at articulating concepts, and very eloquent and convincing, Bromfield noted.

Phone Technical Assistance: If you have specialised know-how about computers and the Internet, you could offer a remote assistance service to help persons solve their technical challenges. Bromfield revealed that it should be easy to replicate this service, which was common overseas, right here in Jamaica.

To be successful in making money with your telephone, Bromfield explained, you would need to advertise your services with flyers and classified ads, as well as word-of-mouth marketing and networking with other small business owners.

Making Money On The Internet

Bromfield shared his experiences with finding money-making ventures on the Internet, explaining that there was a wide world of opportunities waiting online. “I have learned a lot about different business ideas from researching them online,” Bromfield pointed out, “and also profited from sharing these ideas with others.”

Here are some of Bromfield’s picks for Internet-earning options:

Affiliate Programmes: These allow you to earn an income from promoting and selling other people’s products. Bromfield advised persons to look for products that they could use and recommend highly to others. Some great products he has found online include a gas pill that gave him 15 per cent reduction in fuel costs, an eyesight programme that helped to improve his vision, and an Ebook that showed how to make your own fuel. You can use Google.com to search for affiliate programmes in your area of interest.

Ebay: You can sell your own products worldwide on the mega Internet shopping mall Ebay.com. Bromfield noted that while there may be some challenges exporting products from Jamaica, you could also sell other people’s products and have them ship directly to the buyers.

Alibaba.com: This site allows you to find wholesale products, many of which are made in China, at great prices. Bromfield explained that you could order items in bulk on Alibaba.com, pay a small deposit, and then re-sell these same products on other sites such as Ebay.com at a higher price, without ever having to stock inventory or spend very much money.

All it takes to tap into the opportunities available online is the willingness to research and attempt new ideas. As Bromfield asserted, “It just takes a little creativity to open up a whole new world on money-making possibilities.”

Copyright © 2009 Cherryl Hanson Simpson. No reproduction without written consent.

Originally published in The Daily Observer, May 21, 2009

Cherryl is a financial consultant and coach, founder of Financially S.M.A.R.T. Services. See more of her work at www.financiallyfreenetwork.com and www.financiallysmartonline.com. Contact Cherryl