Not all side hustles work equally. Some jobs can make you rich. You can earn some extra cash in a short time. Others are known for doing the exact opposite.
Get Paid to Play Video Games
Some companies may pay people to play video games perhaps the most innovative marketing idea ever. It sounds like a brilliant idea, right? According to NerdWallet, you should be cautious.
Some companies require you to have cash in order to start working. Some only allow you “win” cash rewards that can be used at certain stores. rather than actual cash.
Open a Patreon Account
Patreon could be a great side business idea for anyone who makes content or creates art that can easily be shared online. You just need to get subscribers to pay for access to your content and the money will roll in — ideally, but not necessarily.
Marker reports that, like many art-making industries in general, Patreon’s top 1% earns as much as $2,500 per month and only 2% earn what could be called a living wage. This doesn’t mean that you shouldn’t use it. However, don’t expect it to make you rich or pay your bills.
Also read: Top 50 Gig Apps to Make Money
Take Online Surveys
Many side hustles are described as simple tasks that you can do at home and are easy to find. One common side gig is to be paid to complete surveys.
Paul Mallory, cofounder of ConsumerGravity said that these were his least profitable side hustles. You must be qualified to participate in surveys. He explains that this means you must answer any questions before the paid portion of the survey.
You could spend almost 10 minutes trying to qualify for a survey only to be rejected. It takes a lot of time to assess if you are eligible to take the survey in exchange for $5. If you’re not the right demographic for each survey, you might be rejected more often than you think and spend time answering questions that have no reward.
Affiliate marketing allows you to make money by referring clients or customers to other businesses and services. According to The Balance, affiliate marketing is legitimate and a great way to make money. However, it does require a lot of commitment.
First, you must do extensive research and create a user-friendly website that is attractive to customers. You also need to know how to maintain and build customer relationships. It’s likely that it will take more time than most people can manage on their own.
Social Media Influencer
People have made millions by promoting products on social media or through websites. This sure seems like a great way of making money, doesn’t it? It’s not a side job, it’s a full-time occupation.
For businesses to be interested in partnering with you, they must already be creating great content. It takes time and money to create great content.
Scalefluence states that the average payment per post for those with less than 2000 followers is $50. This might seem generous. You’ll only make a few hundred dollars per post even if you have 75,000 followers. There are many creative ways to make money you’ll need to invest more time and often more of your own money, It pays off more often than you might think.
Investing in NFTs
The blockchain is the unique string of numbers that make up cryptocurrency. It’s what led to the rise of cryptocurrencies. This has led to the creation of another crypto-inspired concept that people claim is a great investment, called non-fungible tokens or NFTs.
CNBC describes them like “having an individual digital fingerprint for every NFT asset, where each project’s subtle uniqueness has its own value.”NFTs come in many forms, including “…unique online art assets, real estate, collectibles, event tickets, website domains or even tweets.”
They are bought with the intention of selling them later for more money. However, a Time magazine expert compared NFTs to gambling. He said it was “even more risky than buying crypto.”
Writing Product Reviews
Writing product reviews for companies is another side hustle that you might consider. Robyn Newmark is the founder and CEO of Newmark Cosmetic. She says that product reviews can be time-consuming. While you may make a few bucks here and there, this is not sustainable or scalable. It is a slow process that eventually ends in a halt to your ability to expand via product reviews or surveys.
She also said that the money you make is not worth your time. It doesn’t make sense to work for only 15-30 minutes and only earn $5. This time can be used to start a side business or invest in something more lucrative and productive.
Also read: 20 Best YouTube Business Ideas
TikTok or YouTube videos
Many people are now producing video content on their websites, YouTube, and TikTok channels in this digital and visual age. Jon Lynn, the founder of MyOfficePod, says that to make any money in this field, you have to be “internet-famous”.
Although blogs and YouTube channels can be great, they won’t bring in significant revenue unless you are recognized on these sites. If you are just starting with a blog/YouTube channel, It will likely take you months, if not years, to start making money. ”
Another side gig that appeals to people through advertising and Multi-level marketing companies offers the opportunity to “be your boss” or run your own business. Matthew Carter, is an attorney who specializes in small business advice and the founder of Inc and Go.
They are clever ways to get you to work for another person and buy inventory. He explains that you will almost never be able to make a business from an MLM company.
Hobbies as Businesses
Carter states that just because you are good at something, or you enjoy it, doesn’t mean you can make it a business.
He says, “Business is all about volume and efficiency. A hobby like this will probably not be able to be your main business.” But that doesn’t mean it shouldn’t be done! It’s great to have hobbies. It is important to think about a business from the perspective of market needs and what you can offer people who will buy it.