Best 5 Side Hustles To Make $550/day

Summary

This video outlines five profitable online side hustles that anyone can start with little to no investment. From becoming a video editor for TikTok or YouTube creators to building a YouTube channel with a long-term monetization strategy, these hustles offer both flexibility and high earning potential. The speaker emphasizes the scalability of each side hustle, highlighting how they can evolve into full-fledged businesses with consistent effort. Whether you aim for $2,000 or $10,000 a month, these hustles provide actionable paths to financial success in today's digital economy.

Takeaways

• 😀 Building an online boutique agency is one of the fastest ways to reach $10,000 per month, with scalability to $50K, $75K, or even $100K per month.
• 😀 The online boutique model is hands-off after a year or two, as long as you have a reliable right-hand person managing the operations.
• 😀 Hiring a skilled CMO and offering profit shares can allow you to focus on higher-level tasks and reduce day-to-day involvement.
• 😀 Building a YouTube channel is a long-term side hustle that may take 3-6 months to yield results, but can be highly rewarding with the right strategy.
• 😀 Before starting a YouTube channel, consider how you’ll monetize it in the future—whether through courses, consulting, or even a subscription service.
• 😀 A successful YouTube channel allows you to leverage your unique personality and expertise, even if you follow existing frameworks.
• 😀 The speaker emphasizes that there’s no reason why you shouldn't be making at least a few thousand dollars a month with a side hustle.
• 😀 The easiest way to start a side hustle is by leveraging existing platforms, which offer countless opportunities to grow an online business.
• 😀 One of the key benefits of starting a YouTube channel is that it can generate passive income over time once the audience and monetization strategy are established.
• 😀 The speaker advocates for not overcomplicating your business; adding your own unique flavor to established frameworks is enough to stand out and succeed.
• 😀 With opportunities like video editing, remote sales, and boutique agency marketing, anyone can start earning significant income online with minimal upfront costs.

Q & A

What is the most scalable side hustle mentioned in the video?

The most scalable side hustle mentioned is building an online boutique agency. It allows for significant growth potential and can reach $50,000 to $100,000 per month once established and managed with a strong team.

How long does it take to scale a YouTube channel, according to the speaker?

According to the speaker, it takes 3 to 6 months before a YouTube channel starts showing results. However, with a solid monetization strategy, the long-term payoff can be substantial.

What is the key to success in running an online boutique agency?

The key to success in an online boutique agency is having a strong, dependable team, particularly a right-hand person who can manage client relations and the operational side of the business.

What is the role of a CMO in the speaker's business model?

The CMO (Chief Marketing Officer) in the speaker's business model manages all the marketing functions and has a small percentage of the profits, in addition to a salary. This allows the speaker to step back and only handle a few sales calls.

What is the recommended approach for monetizing a YouTube channel?

Before starting a YouTube channel, the speaker recommends planning how you will monetize it in the medium to long term, such as through client acquisition, coaching courses, software sales, or a Patreon subscription.

What is the main challenge when starting a YouTube channel?

The main challenge when starting a YouTube channel is that results don't come quickly. You need to invest 3 to 6 months of content creation before seeing significant returns, but the long-term rewards can be substantial.

Why is Discord moderation a viable side hustle?

Discord moderation is a viable side hustle because many online communities, such as NFT projects and fan-based groups, need experienced moderators to manage engagement, prevent toxicity, and maintain order, which is crucial for the success of these communities.

What are the earnings potential for a remote sales closer?

The earnings potential for a remote sales closer is significant, ranging from $10,000 to $30,000 per month, largely depending on the commission structure and the ability to close deals.

What should someone think about before starting a YouTube channel?

Before starting a YouTube channel, it's important to have a clear monetization strategy in place, including how to generate revenue from the channel in the future—whether through ads, sponsorships, courses, or other products.

What is the biggest advantage of an online boutique agency once it’s established?

Once established, the biggest advantage of an online boutique agency is that it becomes highly hands-off. With a reliable team in place, the business owner can step back from day-to-day operations and focus on high-level tasks, while still generating substantial revenue.