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The 10 Most Common Side Hustles (And How Much They Pay)

Shane Hummus2020-06-13
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💫 Short Summary

The video explores various side hustles including direct sales, repair businesses, tutoring, ecommerce, freelancing, and real estate. It emphasizes the importance of choosing valuable and accessible hustles for long-term success. Tips include specializing in high-demand areas, avoiding oversaturation, and gathering information before investing heavily. The video also discusses the potential earnings and skills development opportunities in each hustle, highlighting the importance of personal growth and skill development. Additionally, it warns against unrealistic promises in certain ventures like online courses and emphasizes the value of patience and caution in real estate investments.

✨ Highlights
📊 Transcript
Importance of choosing accessible and valuable side hustles.
Direct sales as an example, with emphasis on potential earnings and skills development.
Skills learned in direct sales can be beneficial in various aspects of life.
Engaging in a sales job for personal growth and skill development is valuable.
Direct sales can be a worthwhile side hustle to consider.
Lucrative side hustles for extra income.
Repair and computer/phone repair business can earn up to $20 per hour, making it a profitable venture.
Babysitting, nannying, or caretaking offers earnings of $10 per hour, providing a common side hustle option.
Reselling items online can also be lucrative, with potential earnings of $20 per hour, making it a viable option for extra income.
Side hustles like these offer opportunities to learn valuable skills such as marketing and research, making them worthwhile endeavors for those with free time.
Lucrative side hustles include tutoring, teaching English online, and ecommerce/drop shipping, with potential earnings ranging from $150 to $6000 a month.
Tutoring or teaching can earn between $150 and $3000 a month by helping students study for tests.
Teaching English online or locally can be profitable, with sites like Cambly available for opportunities.
Ecommerce and drop shipping can also generate income, with potential earnings of $150 to $6000 a month.
Caution is advised due to saturation of online courses promising unrealistic success; it's recommended to gather information from free sources like YouTube and Skillshare before investing heavily to avoid potential failure.
Focus on specializing in one area of high demand for freelancing and consulting to become an expert and position yourself for success.
Avoid spreading yourself too thin by trying to do everything.
Specialized knowledge is valuable and can lead to high-paying opportunities.
Consulting with experts in your niche can provide valuable insights and accelerate growth.
Fitness training and coaching can be lucrative, but the market is saturated, so consider other options with higher demand and less competition.
Ways to Make Money
Hiring a personal trainer, utilizing ride-sharing services like Uber and Lyft, and selling or renting property are discussed as potential income sources.
Ride-sharing is highlighted for its flexibility and accessibility, but lacks learning potential.
Selling or renting property is presented as a lucrative option, with potential monthly earnings between $500 and $7000.
The importance of staying fit and exploring diverse income opportunities is emphasized.
Real estate is a valuable investment that requires upfront work and skill, but can be one of the best investments if done correctly.
It is important to be familiar with the area you are buying in to avoid discrepancies in property values.
Patience and time are necessary for building wealth through real estate.
Beware of scammy real estate courses that sound too good to be true, as there is no such thing as a no-money-down house.
Watch out for suspect techniques and be cautious of unrealistic promises in real estate education.