I started reading your e-newsletter since I found out about you from Mo Money Podcast. I love this content and I can tell you what my side hustle is that was not mentioned here. I have been a virtual translator via Upwork (freelancing platform). Since I’m originally from Japan, I started offering beginner to intermediate level translation last year. Since then, I have delivered over 6 dozens projects all satisfactorily. I like that each and every project is so unique and it really stimulates my brain and challenge myself to deliver high quality translation services. My hope is that one day when I get pregnant or want to stay home with my babies, I can just do this freelancing job and quit my 9-5 job. Upwork offers so many types of freelancing jobs other than translation, so I recommend to anyone who wants to capitalize their underutilized talents.
Since time is the most precious commodity on this earth, invest the time at the front-end so that you can reap the benefits on the back-end. This means putting in a bit of sweat equity and not getting paid today. Rather, you'll get paid somewhere down the road. And you'll continue getting paid whether you keep building that passive income stream or you stop. It's obvious that this is the preferred route, but clearly the road less traveled.
Some businesses may be interested in adding other types of paid content to your website. This could include videos, podcasts, or any other material that would work with your site and help a business market itself. Always make sure that paid content isn’t too promotional. It needs to add value to your audience first and foremost, and not just present as an advert.
Now, it’s time to start creating and uploading content. Make sure you’re using a high-enough quality camera (most smartphones will work but I’d suggest at least having a tripod so your footage isn’t shaky), but don’t worry about being perfect at first. The beauty of YouTube is that you can continue to test out different content and styles as you find what works for you. Instead, stick to a regular schedule to build up your subscriber base.
Multi-vendor marketplaces, like ThemeForest, can be very successful. Chose a niche and create a vendor website for it. Your marketplace could be anything, from a platform for local artists to sell their work on, to an online digital product store. Once set up, invite people in that industry to sell their products on your site. You take a percentage of their profits when items sell.
Amazon offers a service called Fulfillment by Amazon (FBA), which can be extremely useful for arbitrage sellers, or others selling their own products. If you opt for FBA, Amazon will store, pick, pack and deliver your products. That means you can scale your arbitrage business quickly as you don’t have to store products in your own home or waste time with postage.