There's a misconception that keeps those with dreams of owning their own business from following their dreams. It's a misconception that's not only false but dangerous to the small business community. It's not true that every entrepreneur sits in a rundown apartment somewhere in Silicon Valley, eats boxes of cheap mac-and-cheese and stays up all night building the next big startup. Most entrepreneurs aren't living in poverty hoping to someday sign the papers for millions of dollars in funding only to see their dreams become the next worldwide craze.
My events are seasonal (May-December here in Massachusetts) and some vendor fees need to be paid months ahead of time to secure a space in a well attended show. This is a great opportunity for peer to peer lending! My best fairs cost between $125 to $250 to get in, but I can make $1200 or more at those shows. My 2 sisters invest in my biz early in the year so I can pay those vendor fees during my slow season (Jan-May) when I don’t have much income from my biz. I pay 10% interest on their investment, which is usually about $1500, and pay them back by the end of December. 10% is much more than they would get leaving that money in their bank account. If I had the funding, I would go to farmers markets and fairs and talk to the crafters/vendors about my peer to peer lending services because most of the vendors I know struggle with paying those fees which are due during their slow season.
It’s no secret I’m not a fan of balance in all areas of your life. This is a perfect example of why. If you’re going to have a side hustle, then by definition, you’re doing it on the side of something else (probably your day job). And if that’s the case, you’re not going to have much time for other things. Take a look at my YouTube video on my daily schedule working full time and blogging to get an idea of how I do both.
A ballroom dance business provides ballroom dance lessons in a well-appointed studio. It can train teams that participate in national or regional competitions and also provide dance lessons for those who simply want to learn how to dance. A ballroom dance lessons business may be associated with a recreational center or a club, and may offer classes for both interested dancers as well as teachers.
Yoga is getting ever more popular, which means yoga instructors are more in demand than ever—making this another physically rewarding side business idea. Link up with a local yoga studio to teach nightly classes or offer personalized yoga in-home at a higher rate to pursue this kind of emotional and physical balance with others, during your free time while helping your bank balance, too.
Hey Grant! This is a great post! It’s so refreshing to hear of side hustles other than the typical options like Uber, Lyft, etc. I’ve been selling concert tix for over a year and have made some good money….I’ve also lost my ass a couple of times. There’s a definite learning curve! I’ll check out writing white papers since I loved writing in college. Thx for the tips!
This business is great for veterans of yard sales and thrift shops—basically, anyone with a good eye for finding surprising items at low prices. It's also good for those with an eye for style and design, so you are able to see not just what the worn down furniture is but what it could be after some modifications. Finally, it's good for those with sales experience, as the job may involve a lot of individual interaction with a variety of customers.
If you’re stuck here, research your competition again and talk to people already doing what you want to do to see how their first six months went. People love to talk about themselves and share their stories, so don’t be afraid to reach out to someone and ask to talk with her only to hear about her story (don’t ask for anything in return, though, just ask to hear her story).
If you aren’t familiar with the term, bootstrapping, also known as “self-funding,” refers to the various methods entrepreneurs can use to fund their startups beyond funding sources like small business loans. The phrase, based around the popular idea of individuals “pulling themselves up by their bootstraps,” refers to doing something without outside help—in this instance, funding your business.
This kind of goes with Amazon, eBay and Craigslist selling but dumpster diving is a good source of products to sell. I have found a few dumpsters in my area that regularly throw out valuable items I sell on one of the previously mentioned sites. My first week I found a large box of brand new toner bottles that cost $2400 on Amazon. I sold them for nearly $18oo individually over the couse of a month. Printing companies are good sources. I have gotten multiple printers, some working and some not but these are not $100 Walmart printers so even broken they can sell for enough to make it worth it or you can part it out too.
Nothing beats teaching more novice learners about your passion, hobby, or craft as a business idea (that's a common theme here). Explore dozens of DIY portals (such as DIY.org, DIY Network, Instructables and Mahalo) to get business ideas on how to earn a healthy side income just by showing others how to do the things you love. You can also sift through the countless ad-supported YouTube channels that teach just about anything from guitar strumming to 3D printing.
Something else I recommend is taking the free 7-lesson mini-course on general transcription offered by Janet Shaughnessy of Transcribe Anywhere. This will help you to understand if you're a good fit for a transcription career, what you can potentially earn, and also where to get started. Janet also has free legal transcription mini-course if you're more interested in going that route.
There is a subscription box for just about anything you can imagine these days. As an entrepreneur getting started, this means you will have some stiff competition. Think about a unique niche that consumers want and need in their lives, and consider ways to make your product stand out from the competition. Are your prices lower? Is your shipping quicker? Do you include goodies and bonuses that other businesses don’t?
If you can create a regular audience for your podcast on a specific topic, this is a great way to get sponsors and fund this side business idea. My podcast, The Side Hustle Project is actually my current side business idea, and because I had an existing audience here on my blog at the time I launched the show, I was able to broker a $5,000 sponsorship from Freshbooks to place ads on the first ten episodes before I even got started.
I've long been drawn to the passive income supplied by creating an ebook and publishing an accompanied print-on-demand paperback. By using platforms like KDP and CreateSpace, both by Amazon, you can create an easily create and sell an ebook that costs nothing to produce, and a paperback that earns you money only when it sells, removing much of the prior friction it took to get published.
Being a Loan Signing Agent is a great side hustle because you can make $75 to $200 per hour-long appointment working for yourself on your own schedule. Retired people, working professionals, and students can be signing agents and earn extra cash when they want. The best part is you need nothing more than a notary commission (which can often be attained by simply filling out an application)!
Renting out an extra room sounds like a pretty smart idea. App development also sounds like a pretty good idea, I found the link you left about how Benny Hsu made 30000 in 30 days quite useful. I have always been unsure on how you can start a blog but the 6-part video that you left was very helpful to understand how better. I also liked the idea of car flipping. I think it could work quite well especially here in Hawaii. I have personally found that dividend investing to be very useful in increasing income. I was also completely shocked that you can be paid to be someone’s friend. That is crazy that you found that.