Best Side Hustle Ideas 2020
One of the best and fastest ways to pay off debt, or boost your bank account is earning more income. And the easiest way to earn more in a hurry is a side hustle.
Whether you are looking to reach a specific financial goal or just want to increase your income, side hustles can be a great way to do so. There are so many different types of side hustles ideas you can do. These can range from babysitting, starting an online business, or referring people to others products and getting paid for it.
Some of the side hustle ideas listed below are easier to start than others and some require a specific skill set to pull off.
Let’s discuss a few of our most profitable side hustle ideas a little deeper, shall we? Who knows, by the end of this article you might have a groundbreaking side hustle idea that will boost that bank account!
My No. 1 recommendation for a side hustle can be seen via this eBook offered by Dave Sharpe. He provides some great inside on how to build a solid side hustle online.
If you are ready to purchase the eBook, click here to secure your Insider’s Guide to Side Hustle!
What Makes The Best Side Hustle?
The best thing about starting a side hustle is you can literally make money doing anything. You can even start a side hustle idea within your own home.
It’s the best because you can find and make money doing something you love. Sometimes even selling your own knowledge can start out as a side hustle and develop into a full-time business. But, side hustles can have their downside, because most people think there are no rules to side hustling. They think they end up making some money on the side, but not as much as they could be making and end up wasting time doing it. Generally learning from successful side hustlers is best and we will show you who to focus on in this article.
In my opinion, some of the biggest time wasting side hustles are Uber and Lyft. I’ve talked with too many of these drivers, who tell me it’s very competitive to land rides. Also it’s rumored that Uber will soon be testing our self-driven vehicles, eventually replacing drivers.
Also, alot of other Side Hustle sites recommend Fiverr. I see too many people trying to side hustle on Fiverr and similar websites, where the only way they can compete is on price. It is very hard to get ahead when you offer a underpriced commodity product, basically selling yourself out.
How Much Money Can You Make Side Hustling?
My first side hustle started back in 2001 where I used to live on a farm. I used to charge $100 to clear the sticks from a farm paddock, just before farmer’s starting sowing their crops. Making up to $500 a week doing it. It would only take me a few hours to clear one paddock after school.
Then in 2017, I moved to the USA from Australia. I was on a tourist visa at the time, and couldn’t work, so I started doing affiliate marketing. I started making an extra $1,000 to $1,500 per month after taking on a detailed affiliate marketing course. This is now what I do full time and generate over 6 figures each year.
In my experience, it’s easy to make at least an extra $1,000 – $2,000 per month side hustling in your first few months. If you do it right, and keep at it you can then continue to expand and look for opportunities to grow. So basically, you’ll be able to get to $10,000+ a month in side hustle income if you are consistent and stick at it.
5 Best Side Hustles Ideas in 2020
Affiliate Marketing Side Hustle
I’ve personally been doing Affiliate marketing for around 3 years now. This has been by far my most successful side hustle. As an affiliate marketer, I’ve learned to specialize in finding products that you do not have to purchase and recommend them to people with that interest.
When I first started, I was making close to $1000 in the first month. It was very simple, I was able to get a special link from a company and sell their products at 40% commissions. So every $100 in sales I made for them, they gave me $40.
I learned how to do this by taking a side hustle course in affiliate marketing. This taught me how to find products and then sell that product to people that would actually purchase it. It also taught me how to find a lot of people quickly so I can get more sales and earn more money faster.
If you happen to want to take your traffic to the next level, I have some great ways to help you build a list of people willing to buy products from you. This is a really in-demand side hustle and can be done from anywhere in the world.
Side Hustle Revenue Potential: $100,000 in first year and increasing each year after.
Learn more: To learn from the exact course I took to make an extra $1,000 – $2,000 per month, check out my mate Brendan Mace’s Lost Code Affiliate Marketing course! You will see some of my most recent results over a 3 day period selling just one product.
Launching a Blog
Blogging is a great inexpensive way to make money as a side hustle. This blog currently makes over $5,000 per month on affiliate revenue.
This best thing about blogging is that you can earn money without spending money on advertising. The money I earn from this blog is from free traffic that I have built from people reading and sharing my posts. Then they sometimes click, and then sometimes they sign-up or try a service at no cost to them.
Meenapreneur was not launched to just make money. I launched it because I enjoy writing about ways to help people build their side hustles and make money. I also like to think it’s a great way to share this information and pass it on to people that also have the same goals.
When I go to write a new side hustle blog post, I look for ways that are very easy to start. It’s funny that each new product I refer, can turn into a very good business opportunity. The money I make from this blog is simply a reward from writing articles I am passionate about. If you don’t enjoy writing then don’t start a blog. You really have to enjoy it, and enjoy what you are writing about. If you would like to start a blog, you will need a good website host and wordpress site. I recommend using IONOS Hosting.
If you aren’t really the writing blog post type, you can look into having a website done for you. This builds quality news pages and articles that connects to Amazon products that are advertised on your page. When someone reads and clicks on the Amazon advertisement, and they make a purchase you earn a commission. You can see more on NewsProfix Pro Software here.
Side Hustle Revenue Potential: $30,000 in the first year, then can double each year after.
Sales Funnel Website Building
Website building is a great skill to learn as a side hustle idea. I’ve built a number of different types of websites which include WordPress and also sales funnels. Sales funnels are probably the best paying gig as you can earn between $5000 – $25,000 for just one client. Some people that are really specialized in funnel building charge over $100,000! Crazy right! Some people also charge ongoing fees like 25% of revenue from sales made in just that one funnel.
I started building funnels back in February 2019 once I learned about this way of earning. I charge anywhere between $5000 – $15,000. Because I charge for my time to help others make more money.
You can actually learn how to build funnels within just 30 days. I took the One Funnel Away Challenge which is a course by Clickfunnels. They showed me how to find clients and build great sales websites for people and how to help them make more sales.
The best thing is you get to learn from so many different industries and experts such as real estate, cannabis companies and local businesses. Another awesome thing about building Sales funnel websites is that my clients then wanted to keep using me to build other webpages for them. This also included providing on-going website maintenance services where you can charge between $500 – $1,500 per month.
These ongoing services include making sure their website is running smoothly, and continually creating new content for their website to get new customers.
Learn more: If you want to try your hand at building funnels you can learn a really profitable skills by taking the One Funnel Away Funnel Building Course here.
Start a Dropshipping Business
Dropshipping is a great side hustle idea and a good side business to build. Dropshipping is you essentially being the middle man in the e-commerce industry. They sell products to customers that are shipped directly from the manufacturer or supplier.
When dropshipping, the supplier or manufacturer will remove their brand on the products and send it to your buyers. They allow you to sell their products at whatever price you want provided that you pay them before they ship an item to your buyer.
This works well because you don’t need to have your own product inventory. All the items are with your supplier and all you need to do is promote them.
Right now, almost a third of all online store orders are fulfilled through dropshippers. Alot of money can be made as a drop shipper and this industry is growing in popularity.
Become a Virtual Assistant
Virtual Assistants has now become one of the most in demand, profitable, and best side hustles in the digital economy.
As a virtual assistant, you can work from anywhere in the world on a laptop. This is a very flexible way to make some extra cash in your own time. This makes it the perfect side hustle idea digital nomads or full time travelers. As there are more and more digital businesses now, virtual assistants are in huge demand for people who can help run those businesses.
As a virtual assistant, you are able to build yourself a comprehensive list of skills you can sell and how much money you can make. You’ll be able to simply monetize each skill you have, even if you’ve never been a virtual assistant before.
Alot of virtual assistants actually learn of many digital business owners. So when you learn you can pretty easily become an online entrepreneur yourself later on, and help others as a virtual assistant or proofreader.
While I have never personally worked as a virtual assistant, I know alot of people in the digital online industry that have made quite a bit of money doing it. Some people within their first 3 months of launching her own virtual assistant business was able to quit her full time job and both make more money and spend more time with their kids.
Side Hustle Revenue: $500 – $10,000+ a month
Build Your Side Hustle Idea As A Business
The best way to make a side hustle work well is to try and look at it as your side business, and then build it as a business.
People underestimate how a side hustle can really boost their financial situation. They often cut themselves short on actually taking the time to build new skills sets. So quick fix side hustles like TaskRabbit, Uber, Instacart, etc. are fine just to pay the bills. But your time is far more valuable and is better spent making money while learning skills that you can use later.
It’s great to make a few extra bucks on the side. It does allow you to treat yourself like a nice dinner or go on that weekend trip away. But if you want to walk away from your 9-5, you need to really focus and work hard at your side hustle.
You really do need think outside the box and move away from selling your time for hourly pay for limited reward. So you need to start thinking about your side hustle as a means to become your own boss and create financial freedom.
Even with these 5 side hustle ideas, try not to overthink it. You will figure it out as you go. Remember, you are able to test what works for you and what doesn’t. So you aren’t stuck with any of your ideas and you can move onto a different side hustle if it doesn’t work.
How To Start Making Side Hustle Money Today
Over the years I’ve done a ton of different side hustles. These 5 side hustles have been the most profitable and all helped me build new skillsets and learn from different industry experts. It is really important that you try doing a side hustle to enrich your skills and teach you new things. Those are the side hustles that will pay you back and create huge opportunities for you.
I would love to extend out to you the very first course I took to boost my side hustle income. Check out my mates Brendan Mace Lost Code Affiliate Marketing course! You will see some of my most recent results over a 3 day period selling just one product.
If you have any comments, feel free to request any additional information, or simply sign up for my newsletter below.
James
Founder, Meenapreneur
Meenapreneur – recently voted in the Top 200 Marketing Blogs list on Feedspot
Disclaimer: There are affiliate links in this post, meaning, at no additional cost to you, I will be compensated if you click through and take action.