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December 06, 2007


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I've found that teaching can also be a good way to make some extra money. After finishing up my MBA last December, I started applying to local colleges about teaching night classes.

I started teaching some Economics courses at an ITT Tech campus. This was good experience, but the pay wasn't great. I figured it was a good stepping stone.

It turned out I was right. After about 3 classes, I got a call and offer from a 4-year school closer to home looking for a Quantitative Analysis instructor for their evening MBA program. This kind of class was right up my alley. Not only was it closer to home, but the pay was 2.5x as much!

So now, depending on the class schedule, I'm pulling in an extra $700 - $1000 per month for teaching 1 night per week. And trust me, teaching the same class the second time is much easier. Once you've prepared for the class a couple of times, it's gets to be pretty easy to prepare.

I've been thinking of doing consulting gigs, too. I just don't know where to market myself. I think I need to work some more and get some connections.

Here is a little different twist on the idea. I am a software developer but I'm also pretty handy with network and hardware support like they guy you mention. One thing you have to deal with when everyone knows you are good with computers is that EVERYONE comes to you for advice or help. These are people that are looking to get free advice and they are generally good friends so I wouldn't want to charge them. I was getting a little overwhelmed with this so now when they come up I say "Hey just have me over for dinner some night and I'll work on it for you." This works well because 1) they don't see it as a fee or anything 2) I get a free meal for my family that we don't have to cook and 3) I get to spend some time with friends.

This is a great idea. I run a website on independent consulting and so many people write in and say that they're overwhelmed by the idea of doing it full time. But just picking a target like $10k is attainable for a huge number of people and it can help you test the waters. Besides, having an extra $10k a year can make a huge difference to your lifestyle, while using far less of your time than most side jobs out there.

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