How easy is it to set up on your own, multiple streams of income in later life? Ideas please.

[collectiveideasneeded]

Hi, am I being unreasonable to think a group of strangers could shape our future?

Husband currently not employed. Dream is to have different streams of work/income.

He's late 50s. Always worked in the corporate work (business improvement, strategy and transformation, programme management) and as a side hustle (passion, it makes no money), organising small local events, helping at festivals festivals etc). He's got a bit of a name for himself but unfortunately it doesn't make money.

He was good at presenting, facilitating - a 'blue sky thinker'. Very much a people person. Good at liasing with and managing difficult people.

What ideas could we explore for him to do on a self-employed basis. We need a couple of grand a month at least. We don't have a lot to invest (other than time).

Is it an option? How easy to set up/start earning?

Thank you.

Throw some ideas at us, please.

I don’t wish to be facetious (but it’ll sound it!) but aren’t those exactly the skills you’d need to think up a way to generate an income stream. Unless of course he’s spent his whole career telling others how to run a business without a clue how to do it himself.

🤣 true, I guess

Honestly I’d look at growing his side hustle into a business.

Event management? He could perhaps look at connecting with local marketing businesses and offering his services.

how about setting up a local business networking group?

would any of his past clients be able to use his services. I’d be working my existing network if I were him.

i do see a lot of people coming out of the corporate world and trying to use those skills in a small business and it can be a struggle.

You want us to hand your 'blue sky thinker' husband business ideas? For free?

Good luck! 🤣

How about marketing or a career coach?could he do recruitment for his particular niche? Training?

A few different angles - a couple on business and one on his oassion

1. There are lots of. Companies that link up with freelance headhunters-if he knows what he’s talking about and speaks with authority and can speak and interview senior people over zoom etc and build up a portfolio of potentially interviewed candidates- it’s very good money when you do place someone. Better to do within a community of other headhunters- and there are some out there-

1. In a similar vein there are lots of companies that employ freelance trainers for their courses in business analysis, business process improvement , change management, dealing with awkward clients etc ( I know as my friend does this - it’s bit ad hoc and you may get 4 days ( that pays well) and then nothing for 5 weeks

1. On his passion front- he could set himself up as an agent for speakers and presenters at events- lots of busy people can’t be arsed to keep chasing up potential gigs and are happy to use multiple agents and just pay a percentage on results -needs good people skills, an organised mind and the ability to be pleasant to some complete dicks ! If so make sure the paying party split source 85% for client- 15% for him etc !!!!

Event management is a real skill. Could he reach out to local venues, for example stately homes, and ask if they need assistance with managing events?

Fair point.

You can very quickly lose your confidence when you aren't in work. Monetising a passion is not all that easy.

Some great ideas. Thank you.

If it was easy to do, everyone would do it.

https://www.insights.com/insights-discovery-accreditation/

if it were, everyone would do it.

I’ve been self employed for 28 years. It’s hard. And tbh I roll my eyes a lot at people who’ve come out of the corporate world with their big pensions and benefits and say “How can I make £2k a month without trying? I mean it can’t be that hard.”

self employed people have to keep their confidence going no matter what. In good times and bad because nobody has got your back.

The skills and mindset you need to go it alone are completely different from the skills that you need in the corporate world. Not better or worse, but different.

Oh, he's a blue sky thinker then? He obviously needs a paradigm shift. Is he innovation driven at all? Or does he prefer low hanging fruit? Either way, he needs to think outside the box and strategise a clear vision going forward otherwise he puts himself at risk of building the plane as he's flying it.

😂

He could take in some ironing 🙄

👏🏼😂

Not easy and not possible unless market conditions are right. He might be better off enjoying his hobby and focusing on making money from his paid job.

If he is good with difficult people, he might make a good counsellor or coach. Or Adult Ed tutor in some business skills?

Go granular, girl!

Oh the blue sky thinker needs his wife (and a bunch of other mums) to give me ideas about MULTIPLE streams of income. Poor little boy, can’t do it himself.

lol!!

Oooh the first time I heard granular in a corporate office in the 90s I wanted to slap the person who said it. Very hard. Still makes my teeth itch.

People make a lot of money writing and selling courses then marketing the hell out of them on instagram. It doesn’t matter if they’re not that educational or useful, they can be a real money spinner. Find something that will fill a need for lots of people, preferably something he’s good at or could write an e-book on, then learn a bit about social media marketing and be strategic. Since the materials are pre-written and the lessons are pre-recorded, you aren’t teaching sessions at any time, you’re just marketing and selling a product.

That, or get into drop shipping.

Absolutely this.