The annual sales revenue for 2024 is expected to hit $1.06 trillion, and this is only accounting for all Ecommerce sales alone in the U.S. This market is thriving with opportunity and it’s got your name written all over it! There are many reasons that point to why it would be worthwhile to start a business today, let alone on the internet.
Today, I’m going to walk you through 6 side hustle ideas that you can put into action right now and put yourself en route to earning life-changing income that you never would have imagined to be within reach for you. Here are the cliff notes:
- Affiliate Marketing
- Dropshipping
- Retail Arbitrage
- Freelance Services
- Newsletter
- Digital Products
1. Affiliate Marketing ($6,834/month)
Affiliate marketing is one of the most doable and yet lucrative ways to generate income online. The best part of all is that it takes absolutely zero experience and absolutely zero money to succeed in this business model.
Affiliate marketing is where you get paid to refer to certain products and/or services through a unique link and get paid out in a commission for every sale that comes from your designated link. There are many ways to go about affiliate marketing and it can be a great way to generate passive income for yourself if conventional business really isn’t your thing.
2. Dropshipping ($3,414/month)
This business model comes with some negative connotations, but it’s truly a feasible way to create substantial income. This business model revolves around having good marketing skills, but there are many resources that one could utilize to create a profitable dropshipping store.
The key perk to dropshipping is that you don’t have to have the products physically accessible to you to make ground-breaking sales and it can be done from anywhere. This business model also requires little money to invest in and still have the opportunity to succeed and make a nice living.
3. Retail Arbitrage ($8,064/month)
This business model is for the people who are resellers at heart. Retail arbitrage is an extremely effective way of making quick cash online. You will need a start up budget of course, but this is primarily because you are actively purchasing items that hold value and re-listing them for a higher price on the same or different platform that you bought it for. This business model works best for used items like books or CDs.
4. Freelance Services ($9,002/month)
Freelance work is by far one of the most effective ways to make money online. There are so many options to choose from and most of the time, people look at their work as more of a hobby rather than an actual job when it comes to freelance work. Some of the most common occupations of freelance are videography/photography, writing, and editing.
But there are plenty more freelance occupations to choose from. The huge advantage to becoming a freelancer is gaining newfound experience on how to run a business and gain unlimited connections along the way.
5. Newsletter ($6,750/month)
A newsletter is a great way to monetize online. Like most of the other business models listed on here, it is completely free to start. If you have a love for writing, this could be a great avenue to pursue. There are endless topics that you can write on and it’s also a great way to monetize because there are so many businesses that are willing to pay top dollar to get in front of your audience to advertise their brand.
Even if you don’t want to monetize in that way, you can easily charge a premium to subscribe to your newsletter depending on how valuable people find your content and earn passive income this way. Or, maybe you’re just doing this to pass the time. Either way, it’s a very engaging way to establish your stake online.
6. Make Digital Products ($2,000/month)
Digital Products are the epitome of that famous saying “make something out of nothing”. All you need is a content design platform like Canva and a platform to sell the product on. If you’re truly starting from ground zero and have no budget of any kind to invest in, digital products are the way to go.
There is so much value potential in digital products because they’re mainly knowledge-based. You can make anything ranging from a book to education printable templates and even brochures. Many companies find these products valuable as well as the general consumer, depending on how it is marketed. Digital products are slowly growing in popularity and it’s not difficult to see why.
Things to Consider
Most (if not all) of these ideas can be done with little to no money. Obviously, this seems too good to be true, but it is indeed true. These opportunities do exist and are extremely accessible to the public for as long as you have a phone and/or computer, wifi, and “can do it” attitude mindset. But, the real challenge is how you market yourself or those products. This tends to be the most difficult side of running a business because you simply have to get people to care.
It is the harsh truth of reality, but the easiest way to overcome this obstacle is to make sure that you’re working within a niche or topic that you’re passionate about. People recognize passion, and tend to cling to content that reflects their passion for the same things. There are over 2 billion people on this planet, you will surely find like minded individuals who enjoy your content and what you have to offer, whether it’s gaining insight on something new and useful, or something that entertains their mind.
Consistency is the Name of the Game
On top of that, you have to learn to be consistent with everything mentioned on this list because you won’t make any money by working any of these side hustles inconsistently. You won’t get any results that way. Don’t let this discourage you from taking the step forward to try any of these side hustles because again, they don’t require any money or experience.
It is quite manageable to learn as you go because of how simplistic these side hustles tend to be. If you can realistically set aside 2-4 hours of your day to work these side hustles daily, you will succeed in due time. Once you have figured out how to get people to care about your creations, the rest will come easy. As always, cheers friends and best of luck with your business venture!
