15 Side Hustle Ideas for 2024 💸 businesses my friends & I have tried and made it work

Summary

This video script details the speaker's journey of exploring nine different businesses and side hustles over four years, which eventually led to quitting their job in 2019. The speaker shares a mix of passive and active income ideas they've tried, such as creating and selling physical products, teaching workshops, freelancing skills like calligraphy, and participating in gig economy jobs. They also delves into online ventures like business coaching, creating courses, YouTube content creation, and running an Etsy shop. Additionally, they mention other successful business ideas from their network, including social media marketing, self-publishing on Amazon, consulting, and flipping items. The script emphasizes the importance of pursuing passions, having an entrepreneurial mindset, and the hard work required to turn a side hustle into a full-time endeavor.

Takeaways

• 📚 The speaker has tried nine different businesses in the past four years, two of which led to quitting their job and working full time for three and a half years.
• 🎨 The first business venture was selling physical products, specifically greeting cards, highlighting the ease of starting with something you can create yourself.
• 👩‍🏫 The speaker also taught calligraphy workshops, suggesting that if you have a skill others want to learn, you can host workshops as a side hustle.
• 🔧 Freelancing a skill you already possess, like photography or writing, is a recommended way to start a business without needing to learn something new.
• 🚗 The speaker briefly tried food delivery with UberEats but didn't enjoy it due to a dislike of driving and parking, but acknowledges gig economy jobs as viable options.
• 📈 After quitting their job, the speaker transitioned their calligraphy business online and started business coaching, emphasizing the value of coaching others in areas you're experienced in.
• 🎓 Offering free beta coaching packages initially can help build confidence and establish a coaching business, as the speaker did with calligraphy.
• 📚 Creating and selling online courses, like the Calligraphy Instructor Academy, is a way to package knowledge and potentially earn passive income.
• 📹 Starting a YouTube channel was a slow process for the speaker, taking two years to gain traction, indicating the need for patience and passion in such endeavors.
• 🛍️ Opening an Etsy shop is a good way to sell both digital downloads and physical products, with the potential for passive income if SEO is effective.
• ✍️ Blogging can be monetized through various methods like affiliate marketing, ads, or promoting your own products or services.
• 📈 Additional business ideas from the speaker's network include social media marketing, selling books on Amazon, consulting, offering services based on formal education, flipping items, and investing in rental properties.
• 💡 The importance of pursuing your passions when starting a business is stressed, but also acknowledging the need for quick cash options like gig economy jobs or freelancing existing skills.
• 💡 Lastly, having an entrepreneurial mindset is crucial for starting and growing a business, with resources available to help shift from an employee to an entrepreneur perspective.

Q & A

What is the speaker's background in terms of business and side hustles?

The speaker has tried nine different kinds of businesses and side hustles over the past four years, which led to quitting their job in 2019 to work full time on their ventures for about three and a half years.

What was the speaker's first business idea and why did they choose it?

The speaker's first business idea was selling greeting cards through a calligraphy business. They chose it because it seemed like the easiest thing to start at the time, allowing them to do something they were interested in.

How did the speaker's friends approach selling physical products?

The speaker's friends sold various physical products such as bubble tea holders, crochet products, beauty products, and clothing. Some of these required finding a supplier or manufacturer, while others could be handmade at home.

What is the advantage of starting a business with a skill you already have?

Starting a business with a skill you already have is advantageous because you don't need to learn something new. It allows you to leverage your existing expertise, which can be offered as services like photography, video editing, writing, or teaching languages.

Why did the speaker try delivering food with UberEats and what was their experience?

The speaker tried delivering food with UberEats as a side hustle to gain experience. However, they didn't enjoy it due to their dislike of driving and challenges with parking, despite finding the experience interesting.

How did the speaker transition their calligraphy business to an online platform?

The speaker transitioned their calligraphy business online by starting business coaching, specifically helping calligraphers start their businesses. They also offered free beta coaching packages initially to build confidence and establish their coaching abilities.

What is the Calligraphy Instructor Academy and how does it relate to the speaker's business?

The Calligraphy Instructor Academy is a course created by the speaker to teach others how to host calligraphy workshops. It represents the speaker's attempt to package their knowledge into a course for passive income, although it remains a niche product.

What challenges did the speaker face when starting a YouTube channel and how did they overcome them?

The speaker faced slow and steady growth when starting their YouTube channel, taking about two years to reach a point of satisfaction. They overcame this by consistently creating content and maintaining the effort required to build an audience.

Why did the speaker start an Etsy shop and what were the benefits?

The speaker started an Etsy shop as a way to expand their business online, particularly for selling digital downloads. The benefits included a consistent sales stream and an integrated system for payments and transactions.

How can a blog be monetized according to the speaker's experiences and suggestions?

According to the speaker, a blog can be monetized through various methods such as affiliate marketing, advertising, or promoting a product or service offered by the blogger. The speaker's own blog is not monetized but provides several suggestions for doing so.

What other business ideas did the speaker's friends implement successfully?

The speaker's friends have successfully implemented business ideas such as social media marketing, selling books on Amazon, consulting in their fields of expertise, offering services based on their formal education, flipping items in niche markets, and investing in properties for rental or Airbnb.

What advice does the speaker give for someone considering starting a business or side hustle?

The speaker advises starting with the easiest business idea that also aligns with one's interests. They emphasize the importance of having an entrepreneurial mindset, being prepared for the hard work and energy required, and pursuing passions rather than just focusing on making quick cash.