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Let's Get Rich: Special Edition

💸 Top 5 Best Side Hustles of 2024 💸

Hey there, future moguls!

In this week’s special, we're partnering with side hustle expert Mat Gordon to dive into the top side hustles of 2024. These aren't your average "make money fast" schemes; these are genuine, profitable opportunities that can pad your wallet without taking over your life. Ready to turn your free time into cash? Let's get into it.

5. Drop-Servicing

What it is: Drop-servicing involves packaging services (like marketing, design, etc.) provided by third parties (think VAs, UpWork, Fiverr) and selling them at a markup. Essentially, you're the middleman who connects clients with service providers and pockets the difference.

Why it’s hot: This model allows you to leverage the skills of professionals without having to be an expert yourself. You handle the client relationship and project management while your service providers do the heavy lifting.

How to get started: Identify high-demand services you can offer, find reliable service providers, and set up your website or marketing channels. Platforms like UpWork and Fiverr are excellent places to source talent.

Income potential: Depending on the services you offer and your ability to market them, you could earn anywhere from a few hundred to several thousand dollars per month.

Pro tip: Focus on building a trustworthy brand and excellent customer service to differentiate yourself from other middlemen.

4. Selling Digital Products

What it is: Selling digital products like eBooks, online courses, information products, and templates. These can be sold on your own website or through marketplaces like Etsy, Amazon KDP, and others.

Why it’s hot: Digital products are scalable, cost-effective, and offer high profit margins since there are no production or shipping costs involved.

How to get started: Create a high-quality digital product that provides value to your target audience. Use tools like Canva for design, Teachable for courses, and WordPress for your own website.

Income potential: Successful digital product sellers can make anywhere from a few hundred to several thousand dollars a month, depending on their niche and marketing efforts.

Pro tip: Continuously update your products based on customer feedback to keep them relevant and useful.

3. Print on Demand (POD)

What it is: Print on demand involves creating custom designs for products like T-shirts, mugs, and posters, which are then printed and shipped to customers by a POD service.

Why it’s hot: POD is far from dead. The key to success in 2024 is niching down. Find a specific niche, create designs that appeal to that niche, and market them effectively.

How to get started: Use platforms like Printful, Teespring, or Redbubble to create and sell your designs. Focus on a specific audience and tailor your designs to their interests.

Income potential: With the right niche and marketing strategy, you can earn a few hundred to several thousand dollars a month.

Pro tip: Utilize social media and influencer marketing to reach your niche audience effectively.

2. Newsletters

What it is: Creating and distributing a newsletter can seem like a saturated space, but with just a few thousand subscribers, you can bring in $5k - $10k per month. Find a niche, offer high-quality information, and monetize through ads or sponsorships.

Why it’s hot: With 8 billion people on the planet, you only need a tiny fraction to succeed. Newsletters offer a direct way to engage with your audience and provide them with valuable content.

How to get started: Choose a niche you're passionate about, use tools like Substack or Mailchimp to manage your email list, and start creating engaging content. Monetize through sponsorships or paid subscriptions.

Income potential: With a strong subscriber base, newsletters can generate significant income from ads and sponsorships.

Pro tip: Focus on building a strong relationship with your audience by providing consistent and valuable content.

1. Wholesale Dropshipping

What it is: Unlike traditional dropshipping, wholesale dropshipping involves selling products in bulk to online retailers. You benefit from little upfront cost, no inventory storage, and avoiding individual customer orders.

Why it’s hot: This model eliminates many of the common pitfalls of traditional dropshipping, like dealing with customer support and shipping individual orders. Wholesale dropshipping offers a streamlined approach to selling products online.

How to get started: Do your product research, set up a brand and website, and reach out to online retailers who might be interested in your products. Platforms like Alibaba and SaleHoo can help you find suppliers.

Income potential: The sky’s the limit. With the right products and retailer partnerships, you could earn significant income without the usual headaches of retail.

Pro tip: Focus on building strong relationships with reliable suppliers and retailers to ensure smooth operations.

If you enjoyed this week’s special and want more advice, tips, and side hustle guidance daily, please give Mat Gordon a follow on X (Twitter, whatever you want to call it..). Mat has over 10 years of experience in trying, failing, and succeeding at almost every single online business there is and now he wants to help you succeed by making your own lucrative side hustle.

FOLLOW MAT GORDON ON X

Best regards,
The Let's Get Rich Team

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