I know what you guys thinking about. Is this another article telling you to binge doing online surveys for an extra $1,000 per month? No, it’s not. Always remember, we only get paid when we are actually providing values to the market. Don’t you think it’s a little bit weird if you can earn $500 a day just by purely clicking the mouse repeatedly? I mean, of course, you can earn real money from taking the online survey but it’s not categorized as a side hustle area. When it comes to the REAL side hustles, it should be scalable and not trading your time with money anymore. In other words, for me, real side hustles mean the hustles that generate a high ROI and it can apply in many different situations.
Once you understand the rule, you can play around these hustles without limit. Without further ado, let’s dive into it!
First thing first, save it for later if you are busy! 🙂
1. OUTSOURCE YOUR JOB
Yes, I am literally asking you to outsource your full-time/part-time job. How? Take SEO Business as an example.
Alright, so everyone knows that SEO is such a heat these days, especially when more and more companies are turning their business online. SEO is crucial when it comes to being seen by the customers for potential sales. In US, an SEO analyst on average earns $67,601 yearly and that’s mean on average $5,633 per month.
While if a company outsourcing the SEO project to the companies, the cost is lowered to $1000- $3000 per month, depends on how hardcore you want the SEO Optimisation to be. Below is the SEO services pricing list from one of the US Agency firm – WebFX.
Well, some of you may already figured what I am trying to say – BE THE MIDDLEMAN between the business! You now know that SEO Agencies charge way lower than hiring an SEO Analyst, so now you can twist a little bit. All you need is to apply some part-time/full time work from home SEO strategist roles, you take the salary from the company that hires you and take half of the salary to let the agencies do all the work for you. So you basically did nothing and it’s definitely scalable too!
I know some of you may doubt that and ask questions like why don’t the companies directly outsource to the agencies instead of hiring a team of SEO Analysts with higher cost. Well, every company have their own decisions about that. When it comes to some middle-size companies that are in the rapidly growing phase, it’s normal for them to start forming their own team instead of keeping outsourcing the services.
Again, it doesn’t have to be SEO work. It can be graphic design, plumber services, tutoring, or any other kind of industry that you think of! Just a little disclaimer, if it’s illegal for you to outsource your job to agencies on your employee contract, please don’t try. But for most of the cases, people do flip their money by outsourcing their work. It requires thorough research about the market and really executes your thoughts. All I can tell you is it may not be easy, but it’s smart money and it worths your effort.
Reselling things can earn money simply because market information isn’t transparent enough. Without too much information about the pricing, YOU are the one who buys the products at a relatively low price and resells it for the higher price. You can earn a larger margin when it comes to the seller that just wanted to sell the things ASAP and that’s your chance.
Case 1: Buy the calculators from the senior grades high school kids that are about to graduate and resell them online to the junior grades.
This works really well.
The reason is the value of the calculator from the graduates and new school juniors are totally different. After graduation, the chance for them to use such a complicated calculator is just …rare while for the juniors, that calculator is the necessity because they are required to buy that specific calculator in their class. So, the graduates usually willing to sell you at a very cheap price and you can resell the calculators at a much higher price.
Case 2: Buy things from garage sales and resell them on eBay.
See how the Youtuber Eiliot made $1200 in ONE week of college. It’s all about the same concept as the calculators reselling, it’s all about spotting the real values of the products and resell it to the right group of audience.
I really think 2020 is a good year to do reselling more because 2020 is all about decluttering unwanted things for a calmer environment. Decluttering is totally hot topic these days and we should definitely utilize that trend. You have no idea how many people just throw all their goods into the rubbish bin without a blink of an eye because all they want is to get rid of it instead of trying to make some money from it. I mean, what a waste! If you know any of your friends and relatives are ready for a big decluttering, you know what, YOU SHOULD JOIN THEM.
3. PROVIDE TRUE VALUES
I know it’s a bit vague, but what I mean is providing the values that people really URGENTLY NEED.
Example 1: Selling your notes as a high school/ college student.
Why? Because there are always some kids that skip all the lessons (Probably we’ve all been there…LOL) and when the final exams are coming, guess what, they will pay whatever the price to get your notes just because they URGENTLY NEED IT. There are numerous notes selling groups pop up between the schoolkids during the end of the semester and there’s real market demand.
Example 2: Selling your course to Udemy
To be honest, I haven’t tried this yet but I think it’s worth sharing because the ROI is quite high. All you need is creating an e-course and Udemy will take care of other rest of the things for you, you can just passively enjoying the money flowing into your pocket once you’ve built an amazing course that brings real values to people. Plus, there are more than 10 million users in Udemy and you can just exposure to your target groups for free. I mean, it’s a no brainer to sell your course to Udemy. They now cover not only the technical IT courses but also cover areas like personal development, finance, and even self-care!
4. Be a middleman
Middleman is a very basic concept. According to Investopedia, if you are the middleman, it means you are the dealer or agent between the producer of goods and the retailer or consumer. Yup, it’s that simple and everyone can be a middleman if they are aware of their surroundings! The hardest part is to find the lucrative loophole in your daily life and surroundings and actually execute it. If you need some elaboration about this point, here’s the real-life example of a high school girl.
Case 1: Beauty Medical
I really want to explain middleman in this way :p I hope you guys can understand my graphic.
All in all, it’s about bridging the seller and buyers by selling the leads to companies.This is the skill that many companies are willing to pay so much as you have spotted the loopholes of the market and able to fulfill the gap between the 2 parties.
5. Flipping Accounts
When it comes to flipping accounts, I always think of mango. I know it may sounds stupid but please bear with me haha. Okay, if we buy the raw mango in US, it costs around $0.8 – 1. Instead, if we buy the mango juice, the pricing goes up to around $4-5. In this case, the source is still the same (The mango) but after some processing, the pricing can flip way way more.The same case goes with flipping accounts and all we need to do is adding value (growing the account) and resell it to the market, the profit margin here can be mindblowing.
Case 1: Instagram / Youtube / Blog
Instagram account is in such a high demand these days. The reason being is that many startup owners / business owners / KOL wannabe don’t have the time to build the account from scratch and would love to pay a decent amount of money to buy an account that belongs in that niche. It’s a win-win situation for both the sellers and buyers and this market has been growing since 2017 till now.
Here’s two leading websites in this market:
Yes, I know how mind blowing it is – These accounts VALUE A LOT…
I know some people earn a decent money per month by buying other accounts overseas and selling to the US buyers. They don’t even have to grow their accounts themselves. It’s actually similar to investing in stocks or properties. You buy the products that being undervalued in the market and resell it to earn a profit. Of course, if you don’t want to take any risk in buying the bad quality account and you don’t have any budget, you can build one from scratch yourselves. It can be a lot of fun and you can get some money before selling it by renting the shoutouts. This is really a thrilling market and especially for teenagers that are so into social media. If you are interested in this topic, feel free to search from YouTubers like Biaheza, he earns so much per month from flipping the accounts.
Case 2: Flipping domain
I know what you’re thinking. In 2020 and you are telling me flipping domain? Seriously? Well, I know it sounds old school but it’s a real thing that still happening in 2020! Of course, not every domain values, the majority of the domains will never have a buyer to approach. But if you are smart and patient enough to pick some good domains that start with keywords, you probably get a very good chance to earn the money. Some domains that begin with keywords like hotels.com worth a lot because the domain itself is an SEO keyword and many companies are willing to buy an SEO optimized domain for driving more organic traffic from the potential customers. So, if you spot some high potential domains that are still available in the market, you should buy it. But actually, the flipping domain requires skills to a certain level and I do the newbies should try flipping the Instagram account first.
What do you think about these 5 side hustles ideas? Let me know which one is your favorite!
- Outsource your job
- Provide true values
- Be a middleman
- Flipping accounts
I know there are many articles recommending 100 ways for side hustles. Despite most of the jobs aren’t really qualified to be a high ROI side hustles, I really wanted to share the concepts behind the jobs instead of the activities itself. The reason being is when you once figure the concept well, you can totally unlock your earning power because you are able to look at a border picture and you can play around the rules and concepts.
Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetimeMaimonides
I hope this article gives you some real values and please subscribe and save this for later! Before you do any of the side hustles, please make sure you know 5 things rich people do while poor don’t for foundation, the third one is the hardest but I am sure you will overcome given that you are reading this side hustle article!
See you next time!