Ideas to generate a second income. | Page 3 | GTAMotorcycle.com

Ideas to generate a second income.

My employer will allow a second job, just can't work for any other cement company. Oh, and I'm not allowed to share batch recipes.
I tell them I want more money, they say they'll pay me more if I go work in Cambodia for a year and a half. Whaaaat?

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inreb said:
I like to think of it in terms of .gov stealing my time and energy. Feels realer that way.
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If you wanna put it that way
 
Ideal scenario would be an online venture/entrepreneurship while living in South East Asia or anywhere that has low expenses. Beautiful weather with decent life and no snow along with supersport insurance crap to deal with.
 
mimico_polak said:
@Mina - if it means that you go after your company's customers for similar/same product/service or whatever you do, then definitely they won't be cool with it.

If it's a different industry / product / service then it should be ok...but each company is different. I know my previous company was pretty tight on such things...this one not sure but don't have a service/product I've thought of...and selling insects doesn't get me going in any way shape or form!
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'Conflict of interest' is different from 'non compete/non solicit'...
I don't know about conflicts of interest... but non compete/non solicit contracts are rarely enforceable.
A lot of companies make the same mistake when dealing with employment contracts.. and most employment contracts are not worth the paper they're written on.
 
raginduck said:
'Conflict of interest' is different from 'non compete/non solicit'...
I don't know about conflicts of interest... but non compete/non solicit contracts are rarely enforceable.
A lot of companies make the same mistake when dealing with employment contracts.. and most employment contracts are not worth the paper they're written on.
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I'm pretty sure that if Mina went after the same customers that their company is going after, and selling similar/same products and directly competing with his/her employer...won't end well for Mina. But that's just me.

Non-compete/non-solicit contracts are rarely enforceable once you leave your previous employment and then go after the same customers. But during employment, could be a very different story.
 
It's not that I would be going after the same clients it's that I could and I'm not risking my job/income for a few bucks.
 
Mina said:
It's not that I would be going after the same clients it's that I could and I'm not risking my job/income for a few bucks.
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Definitely not worth it. For me a second income would be something totally different as it's not worth the risk.
 
mimico_polak said:
I'm pretty sure that if Mina went after the same customers that their company is going after, and selling similar/same products and directly competing with his/her employer...won't end well for Mina. But that's just me.

Non-compete/non-solicit contracts are rarely enforceable once you leave your previous employment and then go after the same customers. But during employment, could be a very different story.
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I missed the fact that this would be done while remaining to be employed there.
 
Quit your job, start two unrelated businesses. Boom.

Going on one year of this. Hope I never have to work to maintain someone else's social status again.
 
Do the same thing you've been doing for someone else, except for yourself. Fire your boss.

Did that almost 8 years ago and haven't looked back.
 
Set up an online forum geared towards motorcycle enthusiasts who reside in a specific geographical location... Sell ad space... Profit.
 
Hack said:
Set up an online forum geared towards motorcycle enthusiasts who reside in a specific geographical location... Sell ad space... Profit.
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Genius

Sent from the Purple Zone
 
Set up Ice cream and Salami stands at regional motorcycle shows??
 
Matt Rain said:
Quit your job, start two unrelated businesses. Boom.

Going on one year of this. Hope I never have to work to maintain someone else's social status again.
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Congrats! I envy people like you. I hope they both prosper.

whats the second type if you don't mind?
 
why would you want a second "job" to generate income. That is a path to futility, frustration, and burn out. So instead of 40hrs work week, add another 20-40 on another job? NO thanks.


Screw working, I like to make money while Im sleeping. Known as SWAN investors (sleep well at night) Invest, invest, invest. Real estate and stocks and bonds come to mind to supplement your main income.

Buy a property with multi units and watch the income roll in with relatively minimal effort. It takes a bit of work to find the right tenants, but when you do, watch the dollars roll in.

With the way real estate is in Hamilton, one investment property I bought over 5 years ago, is worth more than double what I paid, and thinking hard about selling it.

THAT's is how you make easy money. Screw sweating it out on a second job...
 
mimico_polak said:
Congrats! I envy people like you. I hope they both prosper.

whats the second type if you don't mind?
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Thanks! I run a small digital marketing firm with two partners. It just kind of happened naturally - I'm in my late 30's and my partners are mid-40's, and all three of us have been doing this (as salaried employees) for quite a while, so there's this huge web of people out there that we've worked with in the past. We tapped into those connections first and only recently landed two new clients that we had no "in" at.

Granted, I apply a lot of the same e-marketing chops to the moto gear business, but the clientele and income streams couldn't be more different (mid-to-enterprise-level customers vs. direct retail sales).

I do/did have to dip into a massive chunk of savings to get everything off the ground, but it's already paying off nicely. Zero regrets.
 
Yup, zero rugrats. You can save a cool 1/4 mil+ right there. Roll that into a SWAN and everything should come up just ducky.
 
We're in the same boat for income ventures. Been a single income while she pays off student loans but we'll be good by the summer. Stocks/bonds I have no knowledge in so I'm looking into real estate more. Building in a profitable area as a flip will likely be my go-to as opposed to rentals.
 
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