Do you know you can unlock other income streams as a lawyer that you may have never thought of? What will an extra income do to you at this time?
Well, this post holds some great and thought-provoking ideas for you, so be sure to read to the end.
The hustle is real is a common saying in Nigeria. Many well-known and accomplished attorneys don’t have trouble making money as they always juicy briefs. The case may not be the same for you. As passionate as you may be for practice, you need to make it profitable for you. An extra stream of income will not be a bad idea (who am I kidding? It is a great idea!!!)
As a matter of fact, extra cash is never unwelcome 😁 no matter how well you’re doing. AN excellent way to generate another stream of income is through a side hustle using our skills. A side business can help you (if desired) to transition to an independent and lucrative career in the future or fund your current endeavours.
There are countless side hustles you can start that you never imagined, especially in this digital age of the internet. There are lawyers all over the world actually running businesses alongside their professional careers. The list is endless. Are you ready? Let’s go!!
Do you remember those days in university or in law school when a particular course was giving you headaches and you were ready to buy just about any handout available just to make it easier for you to pass that exam? Remember attending those tutorial classes taken by the “efiko” students who were ready to teach what they know 😁?
That’s an opportunity! Don’t you think so? Leverage your legal expertise for an additional source of income by offering coaching services to new and upcoming lawyers.
It doesn’t need to be held in a physical class anymore. There are lots of free digital tools you can take advantage of to make this happen.
1. Pick a specific area of practice and zero in on that as a start. For example, you could teach young and upcoming lawyers on how to become experts at drafting or how to become great publishers.
2. You could also sell tutorials online teaching those complicated courses that were issued in your university days. Won’t that be a lifesaver to students right now?
3. Take past examination questions and answer them with also a key explanation to give better understanding and insights.
How can you make this available to all students? Create an app! Or put it online on a training portal!
I hope I am beginning to get your creative juices flowing? Keep reading.
I am sure at some time you have tried taking a course on Udemy or any of these online course platforms. What stops you from putting up your own course tutorial in there? This is another way you can monetize your knowledge as an “educator.”
You can create a course teaching “Confidence In The Courtroom,” “How To Create Top Notch Briefs.” The beautiful thing about this is that it can run on autopilot, generating income for you while you focus on other things. Do the work once and earn over and over again.
Startup a blog teaching the common man his legal rights. In a country like ours where the layman is many times taken advantage of, why not empower them with the answers they need to stand up for their rights? Imagine having 20,000, 50,000 or 100,000 visitors on your blog. This will attract companies and organizations to place Ads and you earn a commission. You are not advertising but others advertise their own services that your readers will find useful. There are lots of free and paid courses to show you exactly how to achieve this.
By the way, just in case you are thinking that running a blog requires any special skills, let me bust that myth right now. It doesn’t. If you can write content and send an email, you can run a blog easily.
Some of you may have written books/manuscripts that are gathering dust waiting for some publisher to get it published. What are you waiting for? Publishing has gone digital! Publishing a book to the world has never been easier, you just need to create a digital copy (it’s as simple as typing in Microsoft word and saving as PDF). That’s all. There ain’t anything complicated about that, right? You can sell it online thanks to social media.
If you can write well, you can make extra money on the side producing freelance articles for periodicals and legal websites. Start out by posting as a guest on legal blogs to build a reputation for yourself and pursue increasingly lucrative writing opportunities. Within a year, you should be drawing a significant income from articles.
Studying for the bar exam can be “ssssssssstressful!” Have you got that flair for teaching? Be a prep coach for law students.
I hope these ideas ignite a spark in you to move into action and opens your eyes to other opportunities for you as well. That’s what we are all about in Legalpedia, getting every lawyer to the spot where they are successful in their career.
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