No, this is not gonna be a “How to build an Amazon affiliate site?” post. There are plenty of resources available on the internet in this matter; most of them are way much better than something I could write in this topic. Mainly because I have never built an Amazon affiliate site before 🙂 But if you’re interested in my struggle about being hero from zero in this subject, you might enjoy this post series.
It all started with realizing how important it is to generate some extra income if I want to increase the pace towards financial independence. Every extra euro I can generate over my normal employment income can be an extra euro invested. Even only EUR 100 per month means EUR 1,200 per year and if you add the expected returns to it, plus consider the magical effect of compounding, it all adds up to a nice sum of extra money over the years.
If you want to generate some extra income, there are plenty of opportunities out there. From my side I really enjoy reading Financial Panther‘s side hustle reports; I believe such examples could be truly inspiring for everyone.
I wanted to find a side hustle that can fit the most to my abilities and personal situation. The followings came to my mind first:
- Airbnb – Not really an option for us because we have a small baby and the layout of our house wouldn’t allow to separate the guests in a way that it would be convenient both for us and for them. Nobody wants to get waken up by baby cry during their holiday.
- Uber, UberEATS etc. – It would require time spent away from home and considering that I need to travel relatively frequently due to my work, I just really cherish every minute I can spend with my family.
- Build up a small consultancy business on the side that relates to my profession – It would require a lot of efforts at the beginning plus due to my regular work it might be difficult to deal with it during the daytime when the potential clients might need me. Also would be risky if my employer finds it out.
- Start a FBA (fulfillment by Amazon) business – Not a bad option and it is something I’m still thinking about for the future. Nevertheless it would require a long and careful planning, plus it would require a bit larger starting capital which we are planning to use for buying our first rental property next year
The above side hustle ideas could suit many people but as you can see at this point of time they are not a good option for me. But then I started to read about Amazon affiliate sites and their benefits.
- First of all I already have some experience about how to build up a website. If you are reading this post that’s a good sign that it works 🙂
- It requires only minimal cash investment. Like at Bluehost you can have your own website for $3.95 per month
- I can work on the site in my free time and during the evenings. If I don’t have time at the moment I can have a break, no pressure
- It does require some time and effort especially at the beginning. But hopefully over the time as the site gets more established, this can be managed with less effort.
- One of the requirements of the success is generating traffic towards the site. This would need my SEO skills to get improved but I don’t mind the research on this subject. I take it as a learning opportunity. Learning a new skill on the side of a site hustling sounds like a real benefit! 🙂
So far I have made some research on the subject, registered a domain and just started working on the side design. These are only the very initial steps and there is still a long way to go even until the launch of the site. What I will do is that I’m gonna update you guys on the progress on a monthly basis. It will also give me some extra pressure to work on it. Providing updates like “I’ve been a lazy bastard and didn’t do anything” would be embarrassing 🙂
So stay with me; around mid January I will let you know where I am with this project. Until then of course more posts will follow on different subjects.
Have you ever thought about building up an Amazon affiliate website? Or maybe you already have? Do you do any other side hustle that worked out for you well? I would be more than happy to hear about your experiences.
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Disclaimer: This post or any other information on the site is not intended to be and does not constitute financial advice or any other advice. I am solely sharing my idea, plan and progress on early retirement.