IDEAS NOT WORTH YOUR TIME:
Saturated ‘side hustles’:
Social Media Marketing, Social Media Influencing, Digital Marketing, Dropshipping, Transcription, Data Entry, News Sites, Blogs, Health coaching, Diet coaching, Personal training, Music Production, House Flipping, Garage Sale Flipping, etc.
There’s a reason these ‘side hustles’ are so popular and plastered all over the internet as recommended side gigs: Anyone can do them. These side hustles are so saturated, anyone can hire a literal third world ‘digital marketer’ on Fiverr, Upwork, or any other freelance platform for $5 per hour or less to do anything social media or digital marketing-related. That’s not to say it’s impossible to make better money on the side doing any of the above ideas. The point we’re making is these labor markets are over-saturated with workers and automations, profit margins are significantly slimmer, and your precious time is most likely better spent elsewhere.
There are exceptions for people with specialized expertise in certain skills. For example, I know a few personal trainers who charge $100+/hr. That doesn’t mean any random person off the internet can just take an online or community college course in personal training for a certification and start raking it in. Most successful PT’s I know have a minimum of a Bachelor’s Degree in Biology/Exercise Science/Kinesiology, plus some sort of Minor or concentration in Nutrition, have been resistance training for years, competed in collegiate athletics, and a few PT’s I know are even Physical Therapists (Undergrad + 3 years of Physical Therapy school) who train clients on the side due to their niche expertise. This is your competition.
IDEAS WORTH PURSUING:
#1: PRODUCT SALES
The undisputed, most lucrative and effective source of income. Of course, the most difficult part is creating or identifying a product to manufacture and sell in mass scale with a healthy profit margin. Original and niche are most likely to be your best bet for profit and success. Product sales have been streamlined due to mass market exposure on online eCommerce platforms such as Amazon, eBay, etc. However, these businesses of their own cut into your profit margin by charging you commissions of each of your sales. Therefore, your best profit margins are mass-manufactured and sold to distributers or directly to retail at retail prices.
#2: SERVICES
If you don’t sell a product, sell a service. There is a huge range of valuable services you can learn, get paid (quite well) for, and grow into a scalable business model.
As outlined above, some services are oversaturated, provide low value and are time-consuming (digital media marketing/social media management). Many online services are oversaturated due to the extremely low barrier to entry and minimal specialized skill requirements.
However, there are an abundance of in-person services (some online, too) that are lucrative and potentially worthwhile pursuits, due to the following:
· High/increasing demand
· Low competition
· Relatively low barrier to entry
· Low overhead
· Good to excellent compensation
· Consistent work
· Must be done locally/in person
Many of these are physical (but not necessarily back-breaking labor) or simply require in-person service. The good news is many are mostly, if not entirely, self-trainable skills or expertise that require minimal to no formal education or professional certifications. If you’re tired of applying for jobs and want to work for yourself, investigate any of these diverse options.
EVENT/SEASONAL SERVICES:
Bartending
Catering
Specialty food trucks (keep it simple and very fast)
Event DJ
Event management
Photography
Videography (wedding or corporate)
Photo booth rental
Porta Potty rental
Tents/Party rental
On demand cleanup crews
On demand junk removal / hauling
Casino tables and dealer rentals for events
MISC./LOW COMMITMENT:
TV & Film Extras
Temping
Sharing economy:
Rent bedroom on Airbnb
Rent storage space on StoreAtMyHouse
Deliver food for Seamless / UberEats / Groupon
PERSONAL CARE:
Mobile haircuts
Freelance Hair/Makeup Stylist
Massage Therapist
TRAINING / COACHING / CONSULTING:
Hunting dog training
Domestic pet training
Special needs pet training
High end athletic coaching / training
College acceptance consultation
Credit repair consulting
Career coaching
Personal style consulting
Personal assistant
BUSINESS SERVICES:
Customer service (commonly remote!)
Bookkeeping
Bartending/Catering
Mobile fencing for festivals or construction sites
Porta potty rentals
Liquidation services
Furniture assembly (dorm, office, hospital, hotel, etc.)
Slushy machine servicing
Parking lot power cleaning
Mobile Headshots
Videography
REAL ESTATE:
Home inspection / thermal imaging (utility analysis)
Realtor
Appraiser
Loan officer
Property manager
Vacation rental management
House staging
RETAIL / HOSPITALITY:
Mobile retail pop ups
Mobile brick and mortar (any brick and mortar business, except mobile)
Linen washing
Beer line cleaning / keg tap services
Deep cleaning restaurants
NICHE CARPENTRY:
Closet build-out
Home bar building
Egress window framing/installation
Home office build-out
Wine cellar building
Sauna Building
Steam shower installation
Hidden safes and secret entry construction
Building gun safes into walls
Cubical building
Patio building
Fence building
Dock building
Fireplace building
Cistern / water gatherer installation
Home sound room or studio build
Home stairlift installation
Urban farming systems
Custom beekeeping builds
Murphy bed building/installation (cities)
VEHICLE SERVICES:
Mobile oil change
Mobile car wash/detailing
Mobile tire sales/service
Mobile glass repair
Mobile mechanic
Mobile dent repair (paintless)
Mobile decal and wrap services
Locksmith
ENTERTAINMENT:
Hunting guides
Hiking tours
Biking tours
Party rentals
ONLINE SERVICES:
Freelance Software Development
Freelance Web Development
Freelance Web Design
Freelance Graphic Design
Freelance Video Editing
Buying Royalty rights on music, media, etc.
Buy revenue-generating eCommerce/Affiliate Marketing website(s) on Flippa
Automated online trading arbitrage with the help of a buy bot (Quantopian)
Camwhoring
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