2020 had people shut down their businesses and stay at home. However, those in online hustles were at an advantage because money was still flowing into their pockets. Running an online business has proven that it can be more than just a luxury; it is now a necessity for supplementing your primary income source. So if you are wondering which side hustle is suitable for you to make money at home, here are the best suggestions to start in 2021 from the comfort of your home. I can testify they are ideal because I have been making money from them for the past ten years, and you can, too.
The great thing about these three side hustles I will discuss below is that they are complementary. You do not have to restrict yourself to one. You can work on them together and unlock multiple income sources; each of them will offer you a different revenue stream.
Ecommerce and Dropshipping
Dropshipping remains my top choice for anyone looking to get started in an online business and make money at home. It entails having an online store that fulfills orders, but you don’t need a warehouse to store inventory. Instead, you get customers to make orders, which you pass on to a third-party supplier who then ships the order directly to the customer.
You are responsible for setting the selling price. Since you will incur the cost of marketing (in both time and money) to your customers, the final price is usually at a premium. One ideal example of a service that facilitates dropshipping is AliExpress.
Once you create your online store, ensure that the prices you set are comparable with those on Amazon.
How Do You Ensure Customers Buy From Your Dropshipping Business?
You might start wondering why a customer would choose your new dropshipping business over Amazon when the prices are within the same range. You could reason that the customer has a history with Amazon they may want to keep. However, succeeding with a dropshipping business is about creating more value, not just delivering products.
The secret to having customers shop with you is to offer them digital products with their order. The best way to create more value for your products is by giving your customers PLR (Private Label Rights) products. You buy rights for PLR products to enable you to create or modify informational products within minutes, which you can then sell or bundle with physical goods and retain 100% of the profits.
PLR products come in various forms, including articles, video, graphics, ebooks, and more. So you are spoiled for choice with the kind of informational product you can create to bundle up with the dropshipping products. Of course, the PLR products you send with the ordered product have to be related. For example, say a customer orders a blackhead removal product. Then the PLR product you bundle it up with can be a video course or ebook in the skincare category.
The best policy for starting to make money at home is by being generous with information. If you know what would interest customers, give it to them either as a bonus or sell it. However, do not overwhelm your customers with information by sending lots of informational products at the same time. Two products bundled in with their orders will do.
Selling Digital Products
Once you get the gist of dropshipping and pairing physical products with informational products, you can easily complement that side hustle by selling digital products. Instead of just giving the products as bonuses, you can upsell them to your customer. Usually, you can combine at least five of the PLR products because you can already guess that the customer would be interested in them.
However, you cannot just rely on waiting until customers make orders to entice them to buy more of your digital products. You must diversify your marketing tools to include social media accounts and YouTube.
While being unique can gain you a competitive advantage, you do not want to be the first to sell a product. It is too risky. Therefore, check out what other companies are already selling by going to Udemy. By searching for ideas in the particular niche you want to pursue, you will find the top content creators. They can give you a rough idea of what consumers want.
Such research will enable you to create relevant course outlines for your video course, podcast, or whatever digital product you are interested in selling. You should, however, be careful not to plagiarize anyone’s content. Remember to always offer the customer the right information and good value for their money, regardless of how much you are charging for it.
Affiliate marketing provides a way to make money at home by driving traffic to other people’s sites. You earn a commission for each customer who visits the business you are promoting through your personalized link. The key to being a good affiliate marketer is to promote a product you like.
Let’s consider an example. Say you sell woodworking products but do not have time to make a video course promoting your tools. You can be an affiliate marketer for woodworking video courses. Since customers who purchase your products may like a woodworking course to show them how to use particular tools, you can promote one and still earn money from every customer who buys it.
Start Your eCommerce Empire Today
Starting to make money at home through an online business does not have to be complicated. Besides these three side hustles, there are many other ways of earning money. You can even earn money online without having to create a website or buy products for resale. Sign up for my exclusive free webinar, where I will reveal a simple 5-page ecommerce funnel I used to create a full-time income online. Hurry to reserve your seat and start making money at home. You can also visit my YouTube channel for fresh tips and insights. Your empire starts now!