There are about 1,000,001 different side hustles where you can start earning some extra money.
But only a few are worth it…
Personally, I do not have “side hustles”. I have alternative income streams within my business that include: books, information products, and content based on subscriptions/masterminds.
However, I have met and interviewed hundreds of high-performance players and corporate warriors with incredible efforts, so I have decided to share the best ones here.
* Note: The “earning potential” is my personal estimate of how much I could earn after 12 months of constant work in their lateral hustle of 3 to 4 hours per day.
Do not expect cash rain overnight. These efforts require time and education to execute correctly, but if you do, the rewards are worth it *
SIDE HUSTLE # 1: KINDLE DESKTOP PUBLISHING
Earning time: 30-60 days
The money required: less than $ 100
Potential profit: $ 100,000 + / year
The self-publishing on Kindle is an absolute gold mine of a side hustle.
As long as you are a decent average writer with some experience in a certain niche, you can earn (and relatively) easily $ 1,000 + / month on autopilot by publishing and marketing electronic books on Amazon.
You can write a 50-page e-book, hire a designer at Fiverr to create an epic book cover, and then learn about content marketing strategies to promote your book and, within 1 to 2 months, you will have an expensive and profitable side hustle getting paid to write about your passions.
SIDE HUSTLE # 2: SALE OF REAL ESTATE
Earning time: 45+ days
Money required: $ 100- $ 1,000
Potential profit: $ 100,000 + / year
The wholesale of real estate is one of the best ways to earn money in the real estate game when you do not have the capital or a line of credit that allows you to invest in a house.
The concept is simple. You find people who NEED to sell their homes (divorcees, people with inherited assets or money problems), get the house under contract and then sell that contract to a cash buyer who can close the house in 30 days.
For example, if you find a house that is valued at $ 200,000 with a motivated seller who is willing to part with the property for only $ 140,000. You can get the house under contract for $ 140,000 and then sell it to your investor for $ 150,000 keeping the $ 10,000 as an allocation fee.
You do not need a license to start, but I recommend you take a training program because you can have legal problems quickly if you are not careful with the way you set up contracts.
You will need some money to spend on bandit posters, advertising, and other marketing, but it is a fairly inexpensive way to make a TON of money very quickly.
A friend of mine of only 21 years of age built his wholesale company from $ 0 to more than $ 100,000 / month in PROFIT in approximately 2 years.
Definitely, the potential is there, but you need to know what you are doing so as not to have legal problems or to ruin yourself financially.
SIDE HUSTLE # 3: e-COMMERCE
Time to make a profit: immediately (but wait for 30 to 60 days)
Money required: $ 1,000 +
Potential for earnings: 6 low figures
While this bustle is not as easy as it once was (due to the large amount of competition nowadays), it is still a viable way to earn a lot of extra money without having to work long hours.
You can create your own product or dropship Aliexpress products and all you need to start is the basic knowledge of Facebook ads, an eCom website (through Shopify) and a general knowledge of the business model.
Although you can earn money right away, you should probably expect this side haste to take between 30 and 60 days and at least $ 1,000 in advertising before it really gets going.
SIDE HUSTLE # 4: AFFILIATE MARKETING
Earning time: 6 months +
Money required: $ 100
Potential profit: $ 250,000 + / year
If you are willing to be patient, affiliate marketing can be a very profitable hustle that will generate passive income in the coming years.
To begin, you must create amazing content in a specific niche and partner with relevant affiliates who will pay you a small commission to promote their products.
It will take about 6 months of constant content creation before seeing actual results, but once you start shooting, you can easily earn hundreds of thousands of dollars a year without creating a product.
You’ll need a website, a YouTube channel and some other social networking sites to make sure you can create a large enough user base, but once you have an audience that likes and trusts you, it’s easy enough to recommend products of high quality and get paid big commissions for the sales you generate.
SIDE HUSTLE # 5: CREATE INFORMATION PRODUCTS
Earning time: 12 months +
Money required: $ 1,000
Potential profit: Unlimited
An extension of affiliate marketing, a hustle, and bustle on the information products side, is simply where you create an audience that knows, likes and trusts you and then creates products based on information that share your experience to help your audience with its greatest challenges.
Years ago, I created a product called Awakening, an in-depth program that helps men overcome their limiting beliefs, design their dream lives and act to achieve their greatest dreams.
I sold it for $ 299 and I made multiple 4 figures just with that product.
To do this effectively, you will need a blog, an email list of more than 10,000 people, a decent social follow-up and a REAL experience on a relevant topic.
A great illustration of this business model is I will teach you to be rich by Ramit Sethi.
Your business earns multiple 7 figures a year (maybe 8 at this time) and all it does is cure the BEST content in finance, high-performance psychology, and online business, and then package and sell that information in the form of online products.
He makes a murder on his website and thousands of people have replicated his success. If you have the patience to continue with this model, it is easily the most lucrative side thrust you can create and will help you build true freedom in your life.
I hope this helps. 17 Side Hustle Business Ideas You Can Start Right Now is another post you need to read right now.