Superpowers You Can Build Carlos Caro Podcast

Hello everybody, I’m Carlos Caro and welcome back to superpowers you can build in order to increase your income

The first superpower is the Superpower of Ecommerce

Yes, today thanks to the internet, you can build an online store and sell anywhere, either your own product or resell the products of other manufacturers

The great thing about ecommerce is that you can automate most of your store’s operations so you can sell 24 hours a day 7 days a week

There are several platforms out there to build your store but my favorite is Shopify because there are so many add-on apps that give more functionality to your store along with different themes that will help you customize the look and feel of your store depending on your industry

The second superpower is the Superpower of Investments

One important thing that you must do, is to save at least 20% of your monthly income in a savings account with compound interest. Now, what is compound interest? Compound interest is interest over interest over interest.

This means that, for example, if you invest 100 dollars to be reinvested every 28 days with a interest rate of 8% annually, at the end of the 28 days you will have 100.62

Then you reinvest this amount of 100.62 plus another 100 again for 28 days. So at the end of the next 28 days, you will have 201.87

And if you reinvest this amount of 201.87 plus another 100 again for 28 days,
at the end of the next 28 days, you will have 303.75

At the end of 12 months, you are going to have 1,249.66

If you save 200 a month, after 12 months you are going to have 2,499.32

If you do save 100 a month in a savings account with an interest of 1% annually, at the end of 12 months you will have 1,200.96 instead of 1,249.66

If you save 200 a month, you are going to have 2,401.92 instead of 2,499.32

That is almost a 100 dollar difference

So, find a financial professional and learn how money works

You can find a useful link for that in the description below:

http://howmoneyworks.com/hedwigskains

The third superpower is the Superpower of Coding

App development is hot stuff.

If you build an app that can be used by millions, your income can go off the roof.

This means that if you develop an app and sell it for 2.99 and that app is downloaded by 100,000 people, you will get an income of 209,300 which is 70% that is paid for developers after final sales

Not bad, right?

Game apps, business apps, productivity apps are the most downloaded apps but you can find a great niche if your app solves a burning need for your audience.

For this you will need to learn a coding language like Swift, Python and Javascript.

So, these are three superpowers that you can build as a side hustle and if you commit to any of them, they will help you create a new source of income that can become a great business for yourself.

Thank you for listening

Please like, comment and share this podcast/video down below and see you in the next episode

Take care!


---

Send in a voice message: https://podcasters.spotify.com/pod/show/carloscaro/message