Top 5 Side Hustle To Earn Extra Income From Home 2023


Introduction
 
I'm going to go over five different ways you can make money online and for each of these I'm going to cover how hard it is to get started and how hard it is to maintain alongside your day job all of these five streams of income are ones that I've either done myself I've paid someone to do it or I've included examples of people that have done it and are making thousands a month from it I'm not including any which I wouldn't be willing to do myself so this is the article that I wish I read when I first started my journey to achieving Financial Freedom.

1. Newsletter:
 
Newsletter an old idea but over the last couple of years it has massively come back in the scene and I almost feel like it's the new Vlog there are a few main reasons for a lot of people doing this now firstly there are Services making it super easy to start a newsletter like sub stack for example where you could start your own newsletter at zero cost that's the platform that I use for my bi-weekly newsletter and it's completely free second reason it's blown up is because people are realizing that social media is renting land with one change in algorithm you could lose all visibility team with your audience everything you own belongs to the social media platform whether it's tick tock whether it's YouTube whether it's Instagram and so newsletters are a really good way of taking your audience off of these platforms and instead of being the renter being the landlord and the third reason is because you can make a lot of money without even having to put your face on anything one of the most popular newsletters today is called morning brew and it brings you the Daily News in a really digestible and entertaining manner morning brew has over 4 million subscribers and last year in 2021 the newsletter company generated over 50 million dollars in Revenue the majority of that Revenue came from sponsored ads and affiliate links and the way morning Brew grew so big was purely through Word of Mouth endorsement and their referral scheme in terms of getting started I would give this a one out of five it is super easy to get started type of sentences or two and just send it out I think to grow it it's a bit more difficult if you don't already have an audience because if that is the case then you'll be relying heavily on Word of Mouth so in terms of Maintenance I would give this a three out of five because you would be spending a lot time to promote.

2: Digital Products:

Digital product these are products Digital that you create online you create it once like an ebook a download an app or something like that and then you create once and then you can sell it multiple times and there is a guy called easel uh you can check them out on Twitter and this guy essentially just shares how to be more productive and get more out of notion which if you haven't heard of it it's an online note-taking platform he shares tips and tricks and creates his own templates and in the first nine months of this year alone he made over two hundred thousand dollars just through selling templates and I've seen a lot of other content creators also catch on to this recently with starting their own templates and information workflow setups and it just goes to show that just because one person has done it it doesn't stop anyone else from doing it and creating it with their own spin or their own style and as with anything online there is no cap in the audience and there is no limit so how hard is this to get started I will give this one out of five in terms of difficulty unlike physical products where you have to buy the equipment buy the fabric by the material there is no upfront cost with starting a digital template what you do need however is to sell something that can add some sort of value to other people and that there is demand for so if you can identify a problem or a gap in the market and use your existing skills or learn new skills to close that Gap in terms of ongoing maintenance I would give this a one out of five once you've got it started up and running there is very little you need to do to maintain it from.

3. Video Editing:

Video Editing is on one side a lot of content creators advice on Outsourcing editing and that you can do this really cheap and I don't know if it's just me but getting a good reliable editor is expensive and there is a big shortage of high quality ones for a lot of content creators the editing part is the first thing that they Outsource and when you approach experienced editors on freelance service websites like Fiverr or like upwork they're charging more than 100 to edit a 10 minute video so if you want to make some solid cash this is definitely a good way to go if you're starting out I'd recommend to price competitively as your selling point to attract new customers and then once you've got in the reviews you've got the recommendations you can then scale it bigger to thousands of dollars in terms of how hard this is I would give it a two it's pretty easy to learn how to edit if I can edit literally anyone could edit but before I started my YouTube channel I didn't know a thing about Final Cut Pro or adobe but there is an abundance of free information online and I personally learned how to edit through skillshare and it taught me everything that I need to know.  I probably should be saying that but in terms of Maintenance I would give this a thought although it can be very very lucrative it is something that requires trading your time for money and a lot of your time for money so if you are doing this alongside your nine-to-five job then this is something you'd want to consider

4. Saas Business:

 SAS stands for software as a service and it's a way of delivering applications over the internet as a service there are so many people making money online through this and you won't even realize that or you won't even know it because most of these people don't have an audience and that's one of the best things about it an example of this is a website called Nomad list it lets people find the best places to go to and to work on based on what their preferences are whether it's like good weather cost of living a safety internet speed and the owner who created SP to levels who also created a complimentary website called remoteok. com which is essentially just a job board which posts remote jobs that are available and these two SAS businesses alone make him 2. 7 million dollars a year and he has zero employees he even posted online he said I have no funding I have no debt I have no employees just revenue and profit margins are somewhere between 80 and 90 so in terms of getting started I'll probably give this a forward it's more of an idea that you have to come up with so it might take a bit of throwing specially at the wall and seeing what sticks but in terms of Maintenance I'll give this a lot once it's up and running the services can be very self-sufficient and most of the work the coding the designing is all done up.

5. Online Course:

Online course this is kind of like a digital product but it's in a video format so in terms of getting started I would give this a two out of five it's not hard to make an online course but you do need to have basic skills and like communication speaking to camera and generally having a skill or a knowledge that you can teach others about and the only reason people will really pay for it is if it's actually good and there's value that they're getting out of it but the world of online education has exploded there is so much money being pumped into the space so if you have a valuable skill that you could teach this is probably one of the most rewarding ways to make money online it's a way that you can use your strengths to teach and add value to others you can also make money without having to charge people directly for your course using a platform again like skillshare this isn't sponsored I actually use their premium membership I think it's a really great place to learn stuff I have thousands of courses on thousands of different topics and anyone can teach things on skillshare without having an audience anyone can upload a class to the site and the way it works is you get paid based on the amount of time that someone watches your video so if you already have an audience then that's even better you have an audience that know you they like you they trust you and they'll go to skillshare specifically to watch your class but even if you don't have an audience if your class is really good and you're getting good reviews for it people are watching it then skillshare has its own algorithm so if you make a really good class that people watch a lot and it has good ratings good reviews then it will just rise to the Top by itself and it will come up in the skillshare homepage or it will be the first some people search for it on their website they say that the top teachers are earning more than a hundred grand per year on the platform in terms of Maintenance when you've made the course that's it you're done you just let it run so in terms of Maintenance I would give this a one out of five.

I see a lot of people try something new and they give up before giving it a real chance and that's because it's human nature to expect instant gratification and reward for doing something I mean that's the way we've been conditioned through school to expect immediate results but studies show that this act of expecting immediate success can actually stop you from achieving your goals because you just keep abandoning projects halfway through you don't actually see the project through a lot of the streams that I've mentioned are passive income streams and passive income isn't about overnight success it's about putting in the hard work now to reap the benefits later on.

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