5 Easy Side Hustles To Start With Without Money - With the prospect of a recession on the horizon, experts say now is the time to start saving. This advice may inspire many to seek additional sources of income.
The founders told Insider that starting a side hustle can be a great way to earn extra cash. What's more, many businesses today have zero startup costs and cheap options for scaling.
“In the early stages, capital needs are minimal,” Dave Mawhinney, an entrepreneurship professor and executive director at Carnegie Mellon University, previously told Insider. "So if you can bootstrap it yourself, you can do it any time, in any economy, in any situation."
5 Easy Side Hustles To Start With Without Money
1. User-Generated Content
Giselle Gonzalez began focusing on user-generated content in March. As a mother, she wanted to find a way to work from home with flexible hours. She wasn't an influencer and didn't have a big online platform at that time, but she started creating more and more content about her favorite products.
“When I realized I could start creating content for brands without being an influencer, without a huge number of followers, I started digging in,” she said.
She began filming reviews about hair care products for her page, and it turned into partnerships with brands she knew and loved. Now she makes $5,000 a month creating content for other businesses.
User-generated content was a low-cost option for Gonzalez because she only needed her phone, video-editing app InShot and a social-media page to post, she said. As the content-creation business grows, founders may also purchase tripods, lighting, backgrounds, or other digital equipment if needed.
2. Virtual Assistance
Vivian Garcel has been a virtual assistant since 2017. He started freelancing as a side hustle while working a corporate job. When she decided she wanted more flexibility, and her freelance services were on the rise, she became a full-time virtual assistant.
“I wanted to bring my corporate experience and educational training to freelancing because I wanted to offer something of high value,” she said.
Garcel didn't buy any equipment or take any courses to start her brand, so she was able to launch at virtually no cost. Documents show she now makes over $140,000 in revenue per year.
3. Blogging
Tory Dunlap founded her blog in 2016 and rebranded it to the financial-advice platform Her First $100K in 2019. Today, his business has around 3 million followers on TikTok and Instagram.
"It basically started as a side hustle," she said, adding that she initially spent $40 on the website and domain name. "There's no outside venture capital. We've never paid for ads."
With those low startup costs, Dunlap projects the brand's revenue to exceed $4 million in 2022 and has since grown to include a podcast and best-selling book.
4. E-Books
Brie Bucks is a Salon Owner and Business Coach. When her husband died in 2018, she began thinking of ways to supplement her income, she said.
His first act was to launch an e-book about business credit designed for other entrepreneurs.
"It was easy because it's a digital product, so once you've built it, you don't need to do much other than marketing," she said.
What's more, it was also a very low-cost experiment.
"It was free to make. I used a template in Canva, and I promoted it using social media," she said.
The founders told Insider that e-books can generate passive while serving as marketing materials to find customers and business opportunities.
5. Resale
As the popularity of the vintage market continues to grow, side hustlers can turn lightly used or unworn clothing in their closets into income.
Poshmark seller Mona Mejia, 44, earned $735,000 last year reselling clothing, household items and toys.
She initially didn't invest any money in her business and used clothes in her closet, she previously told Insider. Her first sale, a dress that sold for $36, sold out in 11 hours.
Eventually, she started selling on livestreams via Instagram, TikTok, and Facebook, which helped her business grow.
No comments:
Post a Comment