Unless your job is all-satisfying, all-consuming, or pays plenty of money, you probably have some leftover time, desires, or skills to monetize. And in today’s digital world, there’s simply too much opportunity out there for you to live off of just one salary.Many people have a business idea but don’t know where to start, or they’ve been working on a project for a while but don’t know how to earn money from it.

Step Outside Your Job

You may have one idea, no idea, or a notebook full of them. The first step begins with clarity. So wherever you’re at, use this guide to map out the next steps.&nbsp; Ideas die in secret. Don’t let your ideas rot in your head. And don’t abandon your projects half-baked. Use these steps to turn your idea into an income stream starting today.

The Idea

The single most effective way to come up with a business idea is to solve a problem. It could be a personal pain (e.g., Razors are a pain to shop for) or a systematic problem (e.g., I want to invest but I’m not an accredited investor) you can be thinking about an idea for weeks, months, or even years. If you’ve had an idea brewing for a while,

1. Idea — Think of a thing

The project phase is where most of us get stuck. Examples of projects could be an App, a book, an art piece, a service company, a service company, real estate, or an event.

2. Project — Create the thing

Entrepreneurs and investors treasure Product-Market fit. Product-market fit happens when the right product reaches the right audience. If you sell Crucifixes in a town of atheists, you’ll go nowhere fast. If you cell Crucifixes in a town of Catholics, you’ll do better.

3. Test — Make the thing better

Your website is built. Your storefront is open. Your booth is set up. Your business cards are in your pocket. Now it’s time to scale. As much as creators hate to do it, this stage is all about sales and marketing. Think about the story of your product. Your story. What is something you believe in that your customers can get behind?

5. Growth — Get the word out about the thing

Everybody knows if you have money, you shouldn’t invest it all in one stock. Everybody knows that’s a bad idea. You need to diversify there.But for our jobs, for how we make money, I think many of us — most of us — have one way we make money. It can be very risky. I’ve really come to believe, and have done a lot of research over the years, that one of the best ways that we can create real, legitimate professional stability for ourselves is by choosing to cultivate multiple income streams.

The Way To Make Money

There’s no formula for setting the “right” price. However, the following two basic principles of economics will help you understand why you should charge more than you think.<ol><li>Scarcity. The scarcer something is, the more it should cost, according to the law of supply and demand.&nbsp;</li><li>Positioning. Customers equate price to value. High-quality products usually charge a higher price and lower quality products typically cost less.&nbsp;</li></ol>

4. Business Model — Charge money for the thing

Dorie Clark, adjunct professor of business administration at Duke University’s Fuqua School of Business and author of the book “Entrepreneurial You”, sums up the reason why multiple income streams…