3 Side Hustles you can start right now with no money down
If I walked up to 10 strangers on the street and asked them if they could use an extra $5,000 a month in the bank I am positive that all 10 people would say yes. The biggest obstacle to making money is the illusion that it takes money to make money.
In this article I am going to give you 3 ways that you can create passive income right now with $0 money down. These are the same strategies that I have used in my own life to bring in an extra $5,000 a month all while still working at my full time job.
Before we get into the individual strategies I want to discuss this notion of passive income. When I talk to others about passive income they seem to have the idea that you can create something and then just watch it make money and walk away from it. This is far from the truth and I need you to erase that thought for us to get started.
Passive income to me is creating a product that takes advantage of automation and eliminates the need of a physical presence. This doesn’t mean that there isn’t going to be hard work involved and when you are “completed” there is still going to be work that needs your attention. To me, there is no such thing as 100% passive income.
What this does mean though is that while you’re sleeping or at the beach or even at your full-time job, you can generate income. This is also why you will hear people refer to it as a “Side Hustle”. If you have dreams of leaving your full-time job for one of these side hustles it is absolutely possible.
As I said earlier there is going to be some hard work up front to get things going. These are not “get rich quick schemes” and if that is what you’re looking for you should probably move on. These online businesses will give you a way to add some real value and serve your audience. If you can do that in any business, you will be successful.
This has become my primary side hustle and it is something I really enjoy doing. I think one of the biggest misconceptions of teaching online is that you need to be an expert on the subject. This is not the case at all and I want to emphasize this because it is usually what holds people back from getting into it.
If you have a passion for something you enjoy doing chances are there is probably a demand for it in the online learning space. I absolutely love Software Development and I enjoy helping others so this was a no-brainer for me.
When I developed my first course in November of 2015 I had no idea what I was doing. What I did know is that I could bring a passion for the subject and teach others how I would want to be taught. There were already courses on the subject in the various marketplaces but I knew I had something to offer.
In fact, don’t let the existence of courses in the marketplace discourage you from creating your first course. All this does for me is validate that there is a demand for what you want to teach.
Another misconception is that you need expensive software and equipment to create online courses. If you have a laptop and cell phone chances are you have all the equipment you need to get started. I shot my first course on my iPhone and recorded my laptop screen to share slides and tutorials.
The easiest way to start teaching online is by using a marketplace like Udemy. When you teach on a marketplace like Udemy you don’t have to worry about marketing your course, they will help do that for you. What you do need to focus on is creating a great course outline and description so that when people are searching the marketplace, they can find you.
I could probably write a book on this subject and I am trying to keep these as short intros but I will leave you with this. When I get feedback from students that I have in some small way helped to change their lives it makes all the work worth it. In just 18 months and 3 courses in I have made over $55,000. If you can make some extra money and change lives, everyone wins!
Print on demand (POD)
The Print on demand (POD for short) industry is a great one for those who are creative. Do you ever ideas for something funny and think to yourself, that would look great on a t-shirt. If so you can easily turn those ideas into cash with no up front costs. There is a number of great print on demand platforms out there but I am going to focus on one because I believe it is the best.
Merch by Amazon
Merch by Amazon is a print on demand service by one of the biggest online retailers in the world, Amazon. As we talked about in the previous section, a marketplace is a great place to start because you can focus entirely on creating products and not have to worry about finding the customers.
When people hear about this amazing opportunity I usually hear something along the lines of “That sounds like so much fun, but I am not a designer”. If you are a designer you are certainly one step ahead of the rest of us but you don’t need to be an artist to create t-shirts.
If you want to start creating t-shirt designs but you aren’t a designer you have a few options. First, you can use apps right on your smartphone or tablet with little or no experience to create simple text-based designs. This is a great place to start and some of the simplest designs out there have turned into best-selling money makers.
If you want to learn how to use the tools the pros use you need to look into Adobe Photoshop and Illustrator. There are 30-day evaluations of these tools and if you jump on YouTube you can certainly figure out how to do anything you need to do in either of these programs.
Merch by Amazon is by request only right now but from what I have heard they are letting new users on to the platform pretty quickly these days. I am by no means a designer and in just my 2nd month on the platform (October 2016) I made close to $800. If you want to learn more I created a course that walks you through everything you need to know about Merch by Amazon.
Publish an eBook
If you like to write chances are you might have some aspirations of getting published. Today that aspiration can become a reality pretty quickly using Amazon’s Kindle Direct Publishing (KDP).
KDP allows you to publish your book for free and place it right beside your favorite authors in the Kindle marketplace. You are in charge of creating the description and what categories you book will appear in. In exchange for putting your book in front of customers worldwide Amazon will take 30% of your royalties but to me, this is a win-win for everyone.
If your book becomes a huge hit you can use another service from Amazon called CreateSpace to print physical copies of your book. This gets me fired up just thinking about it and this is one of my next projects. I still haven’t figured out what I want to write about yet but when I do I will be sure to let you know.
My Top 10 Side Hustles that you can start right now to generate a Passive Income
If you enjoyed this list you are going to love my top 10 Side Hustles. In this free download you will get 10 of my favorite ways to generate Passive Income. Please click on the link below to download my top 10 Side Hustles.