I didn’t launch Millennial Money to make money. I launched it because I really like thinking and writing about money. I also feel like it’s my personal mission to share sound financial advice and spread financial literacy. It just so happens that pretty much everything I get interested in turns into a business opportunity. The money from the blog is simply a by-product of my passion for writing. If you don’t enjoy writing then don’t start a blog – you really have to love writing.
A survey company creates, distributes, and analyzes surveys for a variety of businesses or special interests. The purpose is to collect feedback before deciding to alter policies or processes to improve efficiency and overall satisfaction. Owners may either work on a per-case basis, or choose to specialize in a specific niche. For example, a survey company that only administers surveys to students about their professors.
Consulting is another area in which you can make use of your existing skills. Diana Melencio spent eight years working on Wall Street, and later used her financial background to her advantage, working as an independent financial consultant. This side business enabled her to follow her passion and to start OkMyOutfit, an online styling and shopping platform.
Domain name trading has been around for the last couple decades, and while most slam-dunk names have long been sold off (Insure.com went for $16 Million in 2009) there’s still plenty of others that you can get your hands on for relatively cheap and broker as your side business idea. But beware: some experts doubt the long-term viability of this business idea, so you shouldn’t quit your day job just to put all your effort into this one without some successes already in the bag. To get you started, here are some tips from GoDaddy, arguably the world’s largest and most famous repository of domain names. Imagine owning desirable domain names for the next decade's most innovative companies.
This is a wonderful business for gardeners, tree aficionados, stay-at-home workers, and lovers of miniature objects. Business owners can start off selling starter plants to earn a living while they grow two to five-year-old trained bonsai trees for a larger income. It's a great opportunity for someone who doesn't have a lot of space to work with. This is also a great opportunity for someone to combine their growing skills with their Internet sales skills.
If you’re not familiar, podcasts are essentially self-published talk shows. The audiences tend to be extremely engaged and it’s one of the best outlets for networking that I’ve ever seen. The engagement also makes it one of the best marketing channels out there right now. Many podcasters are reaping the benefits, with some like John Lee Dumas bringing in $2,000,000+.
That's why I'm a huge advocate of always starting a side business while working full-time, so that you can test your way into your new product or service, get feedback, validate the business idea, and start generating income before you quit your job. If you can master the art of scaling a side business idea while keeping your day job, you'll have no trouble succeeding once you're fully self-employed.
If keeping your home organized comes naturally and you enjoy helping other people, consider becoming a professional organizer as a side business idea. As the need for baby boomers to start downsizing grows, you can use your organizing and decluttering skills to start making an industry standard $50-125 an hour with very little startup costs and some free expert advice from Jen Kilbourne. Believe it or not, pro organizers don't just work with hoarders. More and more people are hiring professional organizers in order stop wasting time and money due to the stress of everyday disorganization. What's even better, is that you can take this on as a side business idea during the nights and weekends when your clients will be at home.
A person has a better opportunity at building a stable career off of affiliate marketing, blogging, and side hustling alone with the goal of becoming a future “side hustle millionaire.” Side hustles online are by far the best form of job security because you’re using your kinetic energy to build yourself up to ultimate wealth and not an unthankful employer.
It is amazing how this book has covered everything....everything you might need to know about generating income, searching for what may fit you, managing the funds, protecting your income, avoiding legalities, incorporating legalities, marketing, finances, and types of side businesses. You simply cannot go wrong, as there is just too much information.
I have been considering trying number 5, baking cookies and desserts for people. I have a huge sweet tooth so its already something I like doing. I just wonder how much time this would consume and how much money someone could actually make. I could put an ad online or in the paper and offer to bake goods for parties and events. Maybe one day I’ll actually try it.
If you want to broaden your services and earn more, you can opt to make the entire house look neat and clean with this side business idea. House cleaning services cover carpets, floors, lawns, garages, windows, walls, and roofs, requiring a whole range of cleaning tools. You can hire maids and janitors to do the actual cleaning while you handle sales, administrative and customer service tasks. Or, you can start small by actually getting your hands dirty as a contractor, learning on the job before launching your own cleaning operations with the help of cleaning business management tools like Swept. Beyond that, I'd recommend checking out Cleaning Zoom's ultimate guide to starting a cleaning business if you plan on taking this business idea seriously.
If you already have a website that's driving in targeted traffic, a great way to make passive income from the content you're already creating as an easy side business idea, is through affiliate marketing. ShareASale, Rakuten, Clickbank, and Skimlinks are a few of the best affiliate networks and tools that can help you make money from the content you already produce, thus amplifying your side business idea income. Check out this extensive list by Justine Grey, covering the 59 Best Affiliate Programs for Business Bloggers to get some inspiration on how other bloggers are growing affiliate blogs from side business idea to full-time company.
Transcription work from home jobs involve listening to audio files and typing out what you hear. While some types of transcription (such as medical) require training, it is possible to break into general transcription with little to no past experience. Before you start digging through the companies below, you may want to read this post about what general transcription involves and this post about the equipment transcribers use.
When I set out to start in on a new business idea, I always make sure it aligns with both my core competencies and my interests. It starts with learning how to discover your strengths as an entrepreneur, and it's how I make sure I'll be engaged, even when the going gets rough. I learned this the hard way when I decided to start a freelance business a few years ago to offer my freelance content marketing services.
#24 – Magoosh – If you are good at GMAT, GRE, TOEFL, SAT, and ACT, and tests, Magoosh is looking to hire online test prep experts to help students prepare for these papers. As a requirement, you must be an experienced BA or BS holder with high scores in GRE, SAT, GMAT. The standard pay for weekdays is $20 an hour and shoots up to $25 an hour over the weekends.
This doesn’t mean that if you’re busy you can’t find time to side hustle, it just means that you should calibrate the difficulty of your side hustle based on the amount of time you have. I know many families who work side hustle at night after their kids go to bed and some who even bring their kids along on the weekend. They are able to do it, because they schedule their time well and they just really want it.
Grant, you’ve got a lot of info in here that I LOVE! I swear to god, if I read another blog post telling me about a side hustle and I read the word “fiverr” I’m going to implode. You bring up an AWESOME point about not trying to compete in market places where your only advantage is price; eventually you’re profit will be ground down to 0. I’ve heard of domain reselling before; there might be a course there for you… (I’d buy). Great post!
I can’t say enough about dog walking and pet sitting. I’ve been doing this for over two years, and my business has grown to the point where I was only home 4 days last May. The place I’m at now has a pool, and the next place has a pool table. I love dogs but can’t have one of my own, so I also get all the puppy snuggles I could want. And the startup cost is very low.