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Freelancing For Beginners Tier List (Freelancing Jobs RANKED)

Shane Hummus2022-04-01
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💫 Short Summary

The video discusses various side hustle opportunities, ranking delivery apps like Instacart and UberEats as easy but low-earning options. It compares Shopify and Amazon FBA for online businesses and highlights the challenges and risks involved. Physical labor options like flipping items or mowing lawns are also mentioned. Service-based businesses, consulting, coaching, and e-learning opportunities are explored, with a focus on scalability and earning potential. Influencer careers, including YouTube and podcasting, are discussed for their income potential and long-term success, emphasizing the importance of persistence and dedication in content creation.

✨ Highlights
📊 Transcript
Ranking of side hustles based on success rates, skill requirements, passive income potential, and earnings.
Delivery apps like Instacart and UberEats are easy to start but have low earnings potential and scalability.
Not ideal for ambitious individuals but suitable for earning extra cash.
Delivery apps are considered a legitimate money-making opportunity for those seeking additional income without high aspirations.
Challenges of Reselling Random Items through Shopify.
Businesses face a low barrier to entry but a high failure rate, with 70-90% closing down within ten years.
The success rate of entrepreneurship may be higher than advertised, with Shopify potentially having a 95% failure rate.
Risk of others copying your product is a significant challenge.
Sustaining success in a competitive market is a major obstacle for resellers.
Comparison of Shopify and Amazon FBA as business opportunities.
Shopify allows for multiple stores and products but may require hiring a team.
Amazon FBA handles most hassles of selling physical products but requires at least a few thousand dollars to start.
Shopify ranks 7/10 for earnings potential, 3/10 for longevity.
Amazon FBA ranks 8/10 for earnings potential, 5/10 for longevity.
Amazon's access to sales data poses a risk as they can replicate successful products.
Both platforms have varying levels of ease, passive income, and longevity.
Etsy and Real Estate as Side Hustle Opportunities.
Etsy offers a platform for selling handmade art online, while real estate provides various investment avenues like flipping houses or renting out properties.
Scaling an Etsy business can be challenging, while real estate comes with a high risk of initial mistakes.
Real estate's limited nature ensures inherent value, making it a common and relatively easy side hustle for many.
Success in real estate depends on the type of investment and level of passive income desired.
MLM often leads to financial loss for participants due to high entry costs and low earnings potential.
MLM is considered unethical and not scalable, with minimal chances of success for the average person.
Flipping items is a straightforward way to buy and sell goods for profit online, offering a more accessible and potentially lucrative side hustle option.
Profitable side hustles include flipping items like cars, sneakers, trading cards, and collectibles.
Scalability can be a challenge due to the need for specialized knowledge.
Physical labor options such as helping people move items or detailing cars can earn up to $50 an hour.
Steady work may not be guaranteed initially in these physical labor options.
Mowing lawns is another viable option for making money through physical labor.
Opportunities for well-paying physical labor jobs include construction, landscaping, and sales.
These jobs may be physically demanding and not suitable for long-term careers.
Side hustles such as assisting with moving can provide decent earnings but lack stability.
Middleman businesses, like white label website design services, connect clients with service providers and offer earning opportunities.
While profitable, the success of middleman businesses may fluctuate over time and can be used for marketing purposes by showcasing previous work.
White label businesses offer low barriers to entry and potential for good earnings, but longevity and scalability can be limited.
Communication with clients is a key challenge, with some being difficult to manage.
Service-based businesses, like 'done for you' services, are popular for their simplicity in addressing client problems.
Starting with service-based businesses can be easier due to the straightforward nature of selling solutions to existing problems.
Challenges and Opportunities in Service-Based Businesses.
Time constraints can limit service-based businesses, leading entrepreneurs to transition to other types of businesses when demand exceeds availability.
Scalability can be challenging due to team-building complexities, despite the potential for high earnings and longevity.
Offering specialized services based on personal expertise can be a profitable and sustainable venture.
Consulting or coaching businesses focused on solving specific problems for clients offer another avenue for monetizing specialized knowledge and skills.
Rise of One-on-One Consulting and Coaching
The trend is moving towards personalized live streams for private consultations, where individuals pay for expert advice and guidance.
Subscription-based services are making expert advice more accessible and affordable for a wider audience.
Although scaling one-on-one consulting may be difficult, the potential for high earnings and long-term success is substantial.
This shift is compared to the impact of books, allowing individuals to access specialized knowledge and expertise from experts globally.
The impact of mentorship and e-learning on education landscape.
E-learning is predicted to replace universities, despite scammy courses.
Platforms like teachable.com and Skillshare provide valuable learning opportunities.
Creating a course is challenging but profitable with high scalability.
E-learning allows for efficient knowledge dissemination and learning, revolutionizing traditional education methods.
Key highlights on learning and trading from experts.
Easily accessible expert knowledge is scalable for businesses through courses and coaching.
Beware of fake gurus in the industry.
Penny stock trading is high-risk with potential for loss and requires constant monitoring.
Success in penny stock trading is limited to a small percentage of individuals and is not recommended for the average person.
Day trading is risky and most day traders do not succeed long-term.
Day trading requires a specific personality, dedication, and ambition to excel.
SAS business, Software as a Service, offers scalability and long-term success.
Creating successful software can lead to passive income and potential for earning billions.
Tech disruption makes software a lucrative option with high longevity and potential for massive earnings.
Challenges and Potential of Being an Influencer
Influencers can easily start but may take 6 months to 2 years to earn a full-time income.
Many give up due to the time and effort required.
Passive income potential varies based on channel design, with search-based content being more passive.
Success as an influencer requires persistence and dedication to creating content consistently over time.
Making money as an influencer.
Influencers profit from sponsorships and merchandise, especially in niches appealing to youth.
Many YouTubers depend on sponsorships for income and can be selective.
Influencer careers can last centuries with scalability and team assistance.
Being an influencer offers flexibility to combine with other businesses and earn extra income by sharing passions.