Tired of the nine to five and want a new way to make a living? Rather than scraping by in a role that makes you feel unfilled, many people look towards their hobbies as a way to sink their teeth into something more rewarding.
With that said, the question needs to be asked: can a side hustle truly be profitable? Well, if you read the biography of a high flying entrepreneur or absorb the words of a motivational speaker, the answer is likely yes. But the reality isn’t so cut and dry, especially if you’re sacrificing the security of a full-time job to try and make it work.
There are plenty of side hustles and part-time job opportunities out there, yet knowing what can bring in the money and pay the bills isn’t so easy. In this article, we explore the following side hustle opportunities that are financially worthwhile:
- Start a dropshipping business
- Sell information products and online courses
- Become a virtual assistant
- Embrace affiliate marketing
Even the savviest of business minds need some inspiration to get the creative juices flowing — so read on and discover five profitable side hustle ideas in 2021.
Start A Dropshipping Business
Dropshipping is a simple approach to the competitive world of ecommerce.
Interested in online selling, but don’t have the startup capital or necessary experience? Dropshipping is a retail fulfilment model that doesn’t require you to keep hold of stock, meaning you can operate an efficient, profitable side hustle from the comfort of home.
Instead of storing the products you sell, when a customer makes a purchase from your dropshipping store, you order from a third-party distributor like Oberlo (who even have a dedicated course) that then ships the product directly to the customer.
Sell Information Products And Online Courses
Love teaching and want to share your expertise? Knowledge is valuable, so whatever skill you possess, it’s likely people want to buy. Best of all, many platforms exist to help create and distribute this knowledge across the web. Here’s a list of course platforms to help narrow your field of choices, but popular picks include:
These online course builders are all-in-one solutions that help you create and market your learning experience under one roof — this is especially useful for aspiring solopreneurs getting started with teachable assets.
With that said, after factoring in subscription prices and build time, how profitable can selling information products and online courses actually be? Well, monetary value all depends on the quality of your delivery and what you have to teach. Selling knowledge is easier than ever before, but it’s important to package this knowledge into something people want to buy.
Become A Virtual Assistant
Do you have extensive knowledge of a certain software program — or perhaps fancy yourself as a gifted problem solver? Virtual assistants are in high demand, but as opposed to in-house staff, you can freelance to a range of company’s from the comfort of home.
Virtual assistants help support businesses with a range of tasks and training activities like admin, bookkeeping, social media, graphic design, and much more. Whatever your expertise, companies are willing to outsource your services.
Embrace Affiliate Marketing
Affiliate marketing — a side hustle that can make you money anytime, anywhere.
Catchy elevator pitch aside, affiliate marketing is a great opportunity for any aspiring entrepreneur. It is the process by which you (the marketer) earns a commission for delivering online traffic to another, much larger website.
As an affiliate marketer, you get paid by a bigger business that supports you with a unique affiliate link (or partner program). This way the company can track which affiliates — in this case, you — are responsible for a sale and reward them accordingly.
Embracing your side hustle is great but making it profitable is even more important. After all, it could mean you make money doing what you love for the rest of your life. From exploring ecommerce through dropshipping and affiliate marketing to teaching via online courses and becoming a freelance virtual assistant — this is how you turn your side hustle into a profitable venture in 2021.