I Tried 8 Side Hustles in College, Here are the BEST Ones (No Quick Money)

Summary

The speaker shares their journey of earning over 31 lakh rupees through various side hustles, excluding risky ventures like crypto trading. They highlight the importance of financial independence and relieving parental financial burdens. The video discusses five effective side hustles for beginners, emphasizing YouTube's significant but time-consuming income potential, video editing's high ROI with quick payback, and the challenges and rewards of freelancing in art and merchandise. The speaker stresses the need for passion and persistence in any side hustle to achieve success and fulfillment.

Takeaways

• 💰 The speaker has made approximately 31 lakh 55,000 rupees through various side hustles, excluding income from affiliate marketing, equity trading, and high-risk ventures like cryptocurrency or dropshipping.
• 🏆 The speaker emphasizes the importance of financial independence, especially for those from lower middle-class families, to alleviate the burden on parents and gain more freedom in life.
• 📚 The speaker will answer common questions about side hustles based on their own experiences and then guide towards the right question to ask when choosing a side hustle.
• 🎥 YouTube has been the speaker's primary source of income during college, with earnings coming from AdSense and brand sponsorships, but it requires significant time investment and patience.
• 🖼 The speaker has had success with video editing services, which can offer a quick payback time and high ROI if one can secure clients, especially international ones.
• 🎨 Art freelancing was another side hustle for the speaker, but it is not recommended due to the time-consuming nature of art and the competitive market for artists.
• 👕 Selling merchandise can be a viable side hustle with a potentially quick payback time, but the profit margins are not very high and require good marketing efforts.
• 🌐 Digital assets like presets and lots have a high ROI because they are virtual products with no manufacturing or shipping costs, but the market in India may not be very lucrative.
• ⏰ Time investment varies across different side hustles, with some requiring significant upfront work and others being more time-efficient once set up.
• 💡 The right question to ask when choosing a side hustle is whether you enjoy doing it, as passion and enjoyment are key to sticking with it and achieving success.
• 🔍 The speaker suggests trying various side hustles to discover what one enjoys and is good at, leading to fulfillment and potentially higher income than a traditional job.

Q & A

How much money did the speaker make through side hustles during college?

The speaker made approximately 31 lakh 55,000 rupees through various side hustles during college.

What is the speaker's perspective on the relationship between money and happiness?

The speaker humorously challenges the notion that money can't buy happiness, suggesting that those who say so are not spending money on things that can bring happiness.

What is the speaker's advice for those from lower middle-class families?

The speaker advises individuals from lower middle-class families to learn to make their own money as soon as possible to relieve their parents of the financial burden and gain more freedom in life.

What are the three key aspects the speaker evaluates for side hustles?

The speaker evaluates side hustles based on time investment, payback time, and return on investment (ROI).

How much time investment does the speaker suggest for YouTube as a side hustle?

The speaker rates time investment for YouTube at five out of ten, indicating it requires a significant amount of time compared to other side hustles.

What is the payback time for YouTube according to the speaker's experience?

The speaker mentions that the payback time for YouTube is generally 6 to 12 months or slightly more due to YouTube's new monetization policy.

What is the speaker's view on the ROI of YouTube in the beginning?

The speaker indicates that in the beginning, the ROI for YouTube is very low, rating it as a 1 out of 10 or even a 0 out of 10, as it can take a year or more to start making money.

How does the speaker describe the process of earning through video editing as a side hustle?

The speaker describes earning through video editing as having a quick payback time, with the potential to start earning within a month or two, and an impressive ROI if foreign clients are involved.

What is the speaker's advice for video editors to stand out in the market?

The speaker advises video editors to have a polished portfolio and a professional presentation, such as having their own website, rather than sharing files through an unorganized Google Drive.

What is the speaker's opinion on the profitability of selling digital assets like presets and lots?

The speaker finds selling digital assets to be highly profitable due to the high ROI, as there is no need for manufacturing, storing, or shipping, and it requires less time investment compared to other side hustles.

What is the most important question one should ask when choosing a side hustle, according to the speaker?

The speaker believes the most important question to ask is whether one enjoys the side hustle or not, as enjoyment is a key factor in sticking with it and achieving success.