This article gives a glimpse at fourteen different ways to make money at home. The article’s title includes the word, “Easy.” It would be “easy” to think this means these ideas involve very little work. While side hustles can be simple concepts that include simple systems or processes, simple doesn’t always mean easy.
All businesses should be started with an ethic of hard work. If you follow a path that utilizes your skills and taps into your passion, the hard work of becoming successful will at least seem easy.
Take stock of what you’re good at, and think of ways to turn that skill into income. You don’t have to invest in cryptocurrency, day trade stocks, or learn to code to start a side hustle. Maybe you’re good at woodworking, detailing cars, or getting stains out of carpet or clothing. You could start a side hustle DOING those things, or you could start a side hustle that TEACHES others to do them. (Why not both?)
Business models tend to fall into three general categories: One-to-one, one-to-few, and one-to-many. Here’s how they work:
One-to-One models involve selling a product or service to one person or business at a time. This can be labor intensive and time consuming. You can only clean one car at a time, make one basket at a time, or give one massage at a time. While you can charge a high price for a premium product or service, you need to constantly be lining up new business to keep money flowing into your coffers.
One-to-Few models involve selling small batches of product or performing a service for a small group. While you may only be able to weave one basket at a time, you can bake multiple pies or cakes to sell at the local market. While you can only give one massage at a time, you can teach yoga in your basement to small groups each week.
One-to-Many models offer the luxury of “scale.” Your business “scales” when you are able to get more out of it without having to put more into it. You can start a YouTube channel to teach others how to detail cars or make chairs, earning ad revenue and generating leads for your work. You can write a book on how to soothe a fussy baby, earning royalties on every book you sell. You can build an online course to teach others how to master a skill you have learned over a period of years. You create the videos, write the book, or design the course one time, and anyone anywhere in the world can access it.
What skills do you possess that you could use to generate extra income? Contact Sequoyah Fund, and we’ll help you determine how to create a side hustle that makes the most of your talents.