Question / Discussion How do you prioritise when you have different money making streams?

fajita

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I'm interested in this because I love being organised and being as efficient as I can with my time :ROFLMAO:

When you have multiple money making streams, how do you prioritise? Do you base it on deadline, or prioritise those that will earn you the most money first?

I've always been torn about whether to prioritise those with guaranteed profit, vs higher potential profit. For example, Prolific/Appen vs Matched Betting.

Historically I've tended to prioritise MB because it has the highest potential but I have found it frustrating when I've focussed on that for the month, and then made £0!!! Which I can't afford to do :) As I've mentioned a lot in other threads, there aren't loads of offers I can do now because of gubbings/stake restrictions so I'm going to try and focus on the other things I do, and the fill in the gaps with MB! This does rely on some dormant projects on Appen getting some work through (as well as being accepted onto new projects!)

Anyway, this lead me to wonder how everyone else does it :)
 

Jon

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For me (where I am 100% dependent on my online income as it's all I have) it's a case of
what pays the most & which is the quickest to do

the more i can combine those two the better!
 
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fajita

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For me (where I am 100% dependent on my online income as it's all I have) it's a case of
what pays the most & which is the quickest to do

the more i can combine those two the better!
Yes same here, it's my only income - I've been doing that with the Appen surveys, they're not well paid but they're quick and easy so like to get those off my to-do list!

Shame I lost Lionbridge ad rating as that was a great one to get done too!!
 

mcp

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When I first started with online work I grabbed everything that was available as it was my only source of income. Over the years I’ve binned the things that don’t pay well (surveys outside of Prolific, Populous and Testable Minds) and companies that ripped me off (Appen) or are terribly inconsistent (Appen and Lionbridge).

Matched Betting was lucrative but the offers aren’t as great as 5-6 years ago and there are the gubbings.

Never looked into POD so can’t comment on that.

Now I have an eBay niche that generates multiples of thousands, stick photography (in decline), the three survey sites mentioned above, a couple of other sites that were invitation only, gambling and a well paid permanent job.

edit to add a couple of receipt Apps - Shoppix and Storewards.
 
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rninja

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I've been heavily looking in to all this since lockdown started. Realised that 'passive' income or value per hour is key.

Currently doing:
- Matched Betting & value betting
- Amazon KDP low content
- Fiverr freelance writing
- Higher value menial tasks (consumer pulse, usercrowd, Intellizoom, Prolific, etc)
- Crypto trading (experimental, small amounts)
- POD: Redbubble, merch by amazon, spreadshirt

About to restart:
- Blogging x 2

Want to do before end of 2021:
- YouTube channel
- TikTok channel
- some kind of ecommmerce
- ebooks
 
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fajita

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I've been heavily looking in to all this since lockdown started. Realised that 'passive' income or value per hour is key.

Currently doing:
- Matched Betting & value betting
- Amazon KDP low content
- Fiverr freelance writing
- Higher value menial tasks (consumer pulse, usercrowd, Intellizoom, Prolific, etc)
- Crypto trading (experimental, small amounts)
- POD: Redbubble, merch by amazon, spreadshirt

About to restart:
- Blogging x 2

Want to do before end of 2021:
- YouTube channel
- TikTok channel
- some kind of ecommmerce
- ebooks

What value betting do you do? I do each way no lay at the moment but not sure if that's the only real option?

I definitely need to look into more passive income streams, it's just having the time to do it properly!!
 
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rninja

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@fajita, I mostly back over priced odds in shops. Also trade price movements on horses.
 

fajita

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@fajita, I mostly back over priced odds in shops. Also trade price movements on horses.
I couldn't work out most of the value betting info I found online! I was wondering if it was as simple as using software to find BFEX arbs, but then just not laying them, but after researching it doesn't look that straight forward!
 

Jon

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Yes same here, it's my only income - I've been doing that with the Appen surveys, they're not well paid but they're quick and easy so like to get those off my to-do list!

Shame I lost Lionbridge ad rating as that was a great one to get done too!!
opportunities WILL come and go, you have to accept that as part of the course with earning online.

nothing lasts forever, with the exception being if you create something yourself (online business of some kind) as you would have far more control over that then say rating ads for lionbridge where they can kick you off at any stage
 

fajita

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opportunities WILL come and go, you have to accept that as part of the course with earning online.

nothing lasts forever, with the exception being if you create something yourself (online business of some kind) as you would have far more control over that then say rating ads for lionbridge where they can kick you off at any stage
Of course. Fortunately, I'm only relying on this for another year and then I can just treat it as extra money when I have the time - so it would still be good to get some more opportunities sorted :)
 

rninja

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@fajita, Value betting is simply betting with a mathematical advantage. You can use odds finding software to find overpriced odds, or manually search (I find my own prices).
Say you started with £500, you'd bet a percentage of your overall bankroll per bet. Or according to the expected value on offer.
 

fajita

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@fajita, Value betting is simply betting with a mathematical advantage. You can use odds finding software to find overpriced odds, or manually search (I find my own prices).
Say you started with £500, you'd bet a percentage of your overall bankroll per bet. Or according to the expected value on offer.
Ah OK, so what I was going to do (not laying arbs) would be classed as value betting...?
 

Sherliarty

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opportunities WILL come and go, you have to accept that as part of the course with earning online.

nothing lasts forever, with the exception being if you create something yourself (online business of some kind) as you would have far more control over that then say rating ads for lionbridge where they can kick you off at any stage
I tend to prioritise whatever is going to make me the most money whilst doing the minimum on other things to keep me in the game. As Jon says, none of these things last forever, and you can be thrown off a project with very little notice. I use as much of my earnings to try and create passive income streams (interest, dividends, and premium bonds) so eventually, I can rely on this stuff less and less.
 

rninja

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Ah OK, so what I was going to do (not laying arbs) would be classed as value betting...?
Yes. To work out percentage expected value (EV), take the decimal odds of the back bet. Benchmark to the combined multiple of the lay odds on Betfair.

Say, for example a 7/1 (8.0 decimal odds) price boost treble.
Betfair lay odds for each selection in the treble: 1.5 x 2.2 x 2.0 = 6.60.
8.0 divided by 6.60 = 1.21.
1.21 multiplied by 100 = 121.21% EV
 

Frugalgal

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I have a diversified income stream, like others.

I have ISA's and now ETF's to earn passive interest and dividend income.
Over the last year I have got into crypto which has been lucrative, using sign up offers and investing in Bitcoin, Ethereum, Cardano and a small amount of Dogecoin.
I have done Matched Betting, but less so now but do any offers that come up. I did well during Euros and Cheltenham this year.
I do Prolific and Pure Profile surveys
I use cashback sites like Quidco and Topcashback (more now)
I look for referral offers on this website - best ones recently for me have been Tide and InvestEngine
I use a Tesco Bank Credit card to pay for most things and pay it off in full at the end of the month. This earns me decent clubcard points which I spend on family days out.
I am a member of Forester Financial where each year I benefit from family day out offers and things to do with kids. This year we had a free family day out at Drayton Manor Park worth over £100, In the past we have enjoyed free family panto tickets, family tickets to Diggerland, Lazerquest, and Yorkshire Wildlife Park.
I do a few car boot sales a year which I enjoy and makes me a few quid on things I would otherwise take to charity shop (not passive but fun I find)
 
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homie

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Yes to prioritising in order of time and payment. But also consider also the people and the companies you are working for and prioritise the ones where you need to maintain a good relationship.

So anything where you are dealing directly with people and they are counting on you should be prioritised first, like working for an agency or contracted work for someone directly like tutoring or something on fivr. Or something where you have promised to do something within a certain timeframe.

Then comes the more faceless companies where you are just a number like Roamler and Pinecone where you can choose when to work but will still get a snotty email from them if you don't do anything for a while. I try to fire off one job to those every so often just to keep me off the naughty list, mainly in case I need them more in the future rather than need the work right now.

Finally at the bottom of the pile comes other tasks where it makes no difference if they're ever completed or not, like surveys, micro tasks and putting up the curtain rail I bought 6 months ago and still haven't done.
 
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Jon

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Good point from @homie above about focusing sometimes on relationships that you have with these companies or people. Often it can lead to more work depending on their setup / autonomy!
 
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