Ranking Side Hustles I have tried From Worst to Best
Many people look for different ways to augment their income in the always changing world of side gigs. I've put together my own rankings of these opportunities, going from worst to best, after attempting a ton of them. Every choice has advantages and disadvantages, and I'll discuss my thoughts based on my own research and experience.
Number Five: Phone Farming
The practice of employing numerous smartphones to run passive income-generating apps is known as "phone farming." Although it seems good to be able to make money while you sleep, my experience has proven that this side gig frequently falls short of expectations. Though the truth differs, many of these applications offer quick money in exchange for doing things like watching advertisements or filling out surveys.
The Negatives
1. Low Pay: In exchange for your time, the majority of applications pay very little. Even when several devices are operating at once, the revenue may not be very high.
2. Time-consuming: Keeping track of several phones and making sure they're operating well can take longer than the benefit warrants.
3. App Dependability: Not every app can be relied upon. Some can abruptly close their doors or alter their compensation plans, causing you to expend unnecessary effort.
Phone farming may be successful for some people, but I think it takes more time and work than most people are willing to put in, thus it's not as good of a choice as it may be.
Number Four: Dropshipping
The model that comes next is dropshipping, which has attracted a lot of interest over time. The idea is straightforward: you use an online store to sell goods without having to worry about inventories. You order the item from a supplier who ships it straight to the customer when a customer makes a purchase.
The Benefits:
1. Low Startup Costs: There is less financial risk because you do not need to purchase goods up front.
2. Flexibility: If you have internet connectivity, you can operate a dropshipping business from any location.
The Drawbacks:
1. High Competition: Because there is little barrier to entry, there is a lot of competition in the market, making it difficult to distinguish out.
2. Selecting the Correct Product: While a popular product may be a goldmine, selecting the right one frequently requires a great deal of chance and investigation.
3. Customer Service Concerns: Relying on outside vendors may result in errors or delays that harm your company's reputation.
Dropshipping can be profitable, but finding the appropriate products and doing efficient marketing takes time, effort, and a little bit of luck. The work may not always pay off as quickly as promised for many people.
Number Three: Print on Demand
Using the print on demand (POD) technology, you may design things such as t-shirts and sell them online. The allure of POD lies in the fact that it eliminates the need for inventory holding; products are printed and distributed only following a transaction.
Why It's Worth Thinking About:
1.Creative Freedom: If you're skilled in design, you can make one-of-a-kind goods that appeal to specialised markets.
2. No Inventory Costs: By delaying payment for goods until after they are sold, you reduce your risk exposure.
Challenges to Consider:
1. Marketing Is Critical: Getting customers into your store is essential. Even the greatest designs could go undetected in the absence of strong marketing plans.
2. Profit Margins: You must carefully consider item pricing because printing and delivery expenses can reduce your earnings.
Even though print on demand can be quite profitable, the key to success is efficient product marketing. This can be a lucrative endeavour for people who have a knack for design and an awareness of internet marketing.
Number Two: Selling Cheap Sunglasses at Garage Sales
One of the more unusual side jobs I've attempted is buying inexpensive sunglasses—typically for about $1 each—and reselling them at neighbourhood garage sales. This approach is simple to use and has shown to be quite successful.
How It Operates:
1. Buy Low: Look for inexpensive sunglasses from wholesalers or secondhand stores.
2. Open Shop: Arrange for homeowners who are having garage sales to set up a table.
3. Collect Your Profits: Following the sale, you go back to pick up the cash, giving the homeowners a share of your earnings.
The approach has several advantages.
1. Low Overhead: It requires little initial investment, making it simple to get going.
2. Community Engagement: Garage sales frequently draw foot traffic, which raises the possibility that you will close a deal.
3. Simple Logistics: Simply set up your table and engage with potential customers; you don't need a website or internet marketing.
Because it combines a cheap entry fee with the possibility of large returns, this side gig works well. It pays well and lets you participate in your community while making a living.
Number One: Flipping Random Stuff on eBay
My major priority is eBay item flipping, which involves random products. It may seem like a boring side gig, but it has always paid off the best for me out of all the options.
The Method:
1. Source goods: Look for discounted goods in garage sales, thrift stores, and clearance sections.
2. List for Sale: Post eye-catching images and detailed listings on eBay.
3. Ship to Buyers: As soon as an item is sold, pack and send it off.
Why It Works:
1. Low Investment: Anyone can begin with a small initial investment, making it available to everybody.
2.Wide Variety of Products: Almost anything may be found on the market, from gadgets to collectibles.
3. Adaptable Timetable: You are free to decide how much and when you work.
Having an eye for value and being prepared to put in the time to investigate products and produce listings are essential for success in the flipping business. Even while it might not be the most glamorous side gig, it's a really successful way to make money.
Conclusion
In conclusion, I now have a better knowledge of what works and what doesn't thanks to my experience with a variety of side projects. Every experience I had, from the letdown of phone farming to the easy money I made from selling things on eBay, taught me something worthwhile.
It's critical for everyone considering a side gig to evaluate their hobbies and areas of strength. Some people could be better at artistic endeavours like print on demand, while others would appreciate the more direct route of selling sunglasses or flipping things. The ideal side gig is ultimately the one that fits your lifestyle and skill set. Cheers to hustling!
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