The Best Side Hustles to Start in 2020
Looking to make some extra money with a new side hustle? Not sure where to begin?
We can start by breaking down the different categories that pretty much any side hustle can fall into. We'll dig into each one below, but from a high level here's what we will consider.
- Digital products
- and Services
This is a big one. Very popular so we may as well start here.
Ecommerce is one of the largest categories of side hustles and contains some of the most hyped hustles.
Dropshipping. Amazon FBA. Print on demand. Flipping on eBay. Retail arbitrage.
The list is endless. You take a product that someone wants and you sell on the internet for a profit. Modern strategies have made the barrier to entry low here too.
- Dropshipping and print on demand don't require any inventory.
- Shopify will give you an online store with a free trial that lasts long enough to make your first sale.
- Advertise on Facebook to reach over 2 billion people.
Another popular side hustle is selling digital products. There can be ebooks, self-publishing, courses, or other similar products that are not physical goods.
These creators can sell an infinite amount of their product without having to worry about supply, logistics, or margins.
For the upfront cost of simply your time and however long it takes to create the product, there is little to no monetary risk in digital products.
Advertising is a massive money-making opportunity. If you control an online asset that gets traffic, you can partake in your slice of the pie.
There are many ways to build a side hustle around advertising.
Blogging. Niche website. YouTube. Instagram. Twitter. Pinterest.
You can build a large audience with any of the above strategies, and when you do the monetization follows. Besides simply placing ads, you can get into affiliate marketing, shoutouts, sponsorships, or even promote your own products and services.
The last category of side hustles would be services. These are any side hustles in which you provide a valuable service for your customers. You are often but not always, trading your time for money.
Hence many avoid this bucket because of their goal to get away from trading time for money. (The lucky few automate their service, such as software as a service companies)
Nevertheless, these can be easier to get into and start making money quickly.
A few examples of services you could provide as a side hustle include freelancing or part-time jobs with flexible hours.
Unlike the other side hustle categories, these jobs don't always require you to work until after you know you are getting paid!
A Bunch of Other Ideas
Still not sure where to start? We've compiled a larger more specific list too. Here's what could work.
- App development (My experience)
- Start an Amazon FBA store
- Start a dropshipping business
- Become an affiliate marketer
- Start a print on demand store
- Create a blog
- Begin freelance writing
- Sell ebooks
- Sell photography
- Get a part-time job
- Freelance your skills
- Become an online English teacher
- Start tutoring
- Create a social media agency
- Flip items on online marketplaces
- Become an Instagram influencer
- Become a public notary
- Become a real estate agent
- Invest in rental properties
- Build niche websites
- Computer repair service
- Start an IT support company
- Computer tutoring
- Review resumes
- Start a car washing company
- Car flipping
- Start a marketing agency
- Dog walking
- Start a podcast
- Become a DJ
- Freelance designer
- Become a home inspector
- Start a moving company
- Personal training
- Pet sitting
- Be a virtual assistant
- Create a startup