Over the last few years we’ve been hearing more and more about side hustles but what are they exactly?
A side hustle or side job is something you take on to earn money outside of your day or full time job. With the rise of the gig economy and an increasing desire from many people to work flexibly and on their own terms, side hustles have become more and more common.
Here we take a look at some on and offline side hustles that are not only potentially fun and rewarding but that can also be especially lucrative too:
Write a Book
Casey Botticello makes $2000+ every month from eBooks. Indeed, publishing a book has never been easier because of self-publishing. You no longer need a traditional publishing company; self-publishing lets you reach a worldwide market independently. The most popular platform is Amazon’s Kindle Direct Publishing (KDP).
A lot of what differentiates successful and unsuccessful writers on KDP is marketing and business savvy. The first step is to write a book that stands out. One way is to write about your niche expertise. After you have written your book (check out How to Write a Book ASAP: The Step-by-Step Guide for Writing Your First Book Fast!), sign up on KDP. Follow Casey’s steps (linked above) for how to market yourself effectively (and read Authorpreneur: Creating Multiple Streams of Income as An Author).
The luxury of this side hustle is that once you have written your book, you keep making money from it for every download or physical purchase but can turn your day to day attention to something else.
Flip Apple MacBooks
Used MacBooks are in high demand and hold their value well so this is a great side hustle for the tech savvy.
The first step is to find a reliable supplier. Schools are a good source as they might update their entire computer lab at once or businesses with work laptops that are being replaced. If you strike up a working partnership, these organizations might sell you their used MacBooks at a wholesale price which means more profit for you. An alternative is top-rated suppliers on eBay.
Next, understand how to evaluate the condition of a used MacBook. You will be buying these MacBooks with your own money, so make sure you are buying ones that will sell.
Extensively research Apple forums for common MacBook issues and learn how to repair broken MacBooks. If you’re willing and able to do your own repairs, you can buy very cheap and flip for a solid profit.
Finally, advertise in a way that differentiates you from competitors and creates trustworthy rapport with customers. For instance, one Reddit user flipped 500 MacBooks for $100-$250 profit on each. That’s some seriously solid earnings.
Manage Social Media for Businesses
Businesses need top-tier social media managers and it’s often a job you can do form home or with flexible hours.
Pick an industry and investigate how businesses are managing their social media. What do they post, which posts get the most engagement, and what type of interaction do they have with their followers.
Next, define your strategy. Why should businesses work with you? What will you evaluate in a business’s social media and how will you drive improvements?
The golden metric is engagement. While 90% of customers want meaningful social media interactions with businesses, less than 20% experience this. Replying to customers’ comments and following them back can create that relationship. It’s time consuming which is why businesses often need extra help but opportunities are there.
A quick route to landing your first gig is partnering with entrepreneur friends. Once you have a portfolio, you can branch out an approach other businesses or advertise your services on job boards and forums.
Become an SEO Consultant
Businesses need search engine visibility. When higher on search lists, they increase their chances of gaining new customers. The process by which a business increases its search engine visibility is called Search Engine Optimization (SEO).
SEO specialists understand how algorithms rank websites in search results, and consequently, how to make a website end up higher on search lists.
SEO consulting requires technical and creative skills so this isn’t necessarily one you can jump straight into. If you do have the knowledge needed it’s often a well-paid position and rather like being a social media manager, often one you can do from home on your own work schedule. This makes it a lucrative side hustle for the right person.
Start a YouTube Channel
YouTube is profitable if done right. In fact, the top-earners on YouTube make millions a year although it can definitely be tough starting out and does require a fairly significant time investment.
You earn money on YouTube by monetizing your channel. Simply put, this is ad revenue and means you allow advertisers to run ads on your channel before, after or during your videos.
YouTube typically rewards accounts with higher watch times so growing a loyal and engaged subscriber base is important. A simple trick to increase watch time is to increase your video length although you still need to be putting out videos people want to watch.
Keep in mind that YouTube algorithms are always changing and are increasingly rooting out controversial content. For example horror and true crime channels have been having a tough time recently with several being demonetized. The more family-friendly your content is, the safer it probably is.
Aside from simply ad revenue there is also the opportunity to strike brand deals, sponsorships and collaborations.
They are many profitable side hustles out there but it really depends on your skills and goals as to which one is right for you.
Why not give one a try and see just how much extra money you can make? You might also learn some new skills along the way too.