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A side business that never makes you rich

Unless you're literally one in a million, I think it's a waste of time.

By JasperPublished 2 years ago 3 min read
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The side hustle is great and no doubt. Side hustle gives you the freedom to pursue your passion and interests. If you find the right-handed hustle and bustle for you, you can generally have financial freedom and freedom in your life.

A profitable side hustle should help you gain financial freedom to do whatever you want. This may be quitting your job, pursuing your vacation passion, or having some extra money to do what you enjoy. Profitable side hustle should not do the following:

Spend more time so that you earn less than the minimum wage

Absorb your happiness and energy

Immediate profits require a huge number of viewers

If you need more financial freedom, think twice before trying one of these unprofitable side businesses.

Don't get hooked on NFT hype. Yes, I have become a prey to the excitement surrounding NFTs. Don't believe in hype.

The question is whether the value of the NFT is speculative (that is, the NFT is not perceived to be valuable in nature, but the buyer believes it will be more valuable in the future) or completely. It's subjective. Yes, buying an NFT artwork for $ 69 million means that you own the only original copy of that artwork stored on the blockchain. But why do most people need to care?

Most of the NFT trading activities are carried out by people who are already deeply rooted in the cryptocurrency scene. It's not that important to everyday creators like you and me. For a very small number of people, it's a lucrative part-time job.

YouTube is probably a bad idea

Yes, YouTube offers salaries for thousands of content creators who support and maintain a good lifestyle. However, you can see thousands of numbers in different ways. Thousands are big, but thousands are very small compared to the 37 million YouTube channels out there (yes, 37 million)!

Further disassemble. According to tubeics.com, 230,000 channels have more than 100,000 subscribers, 22,000 YouTube channels have more than 1 million subscribers, of which 700 channels have more than 10 million subscribers. I am. 100,000 YouTube subscribers is sufficient, but what is the probability that you will be one of the 100,000 subscribers on 230,000 channels? By calculation, 0.006% of all YouTube channels have 100,000 subscribers.

With 500 hours of content uploaded to YouTube every minute and millions of channels participating in the platform (23% increase in channels from 2019 to 2020), YouTube may be highly competitive and unsuccessful. I have. Instead of struggling with subscribers and monetization ladders and almost failing, find something easier, more feasible, and more fun. Surveys from home are not the answer. If you googled "how to make money from home". If you do this today you will see the same thing I did: Polling.

These surveys typically pay about $ 0.20 or $ 0.50 per survey. They usually last about 15-20 minutes. Before completing the survey, you must actually complete the preliminary survey to confirm your eligibility. If you don't qualify, you can win a small comfort award of $ 0.05. Unfortunately, I know this from a long and bitter experience.

They are billed for the comfort of your own home and even your pajamas as a way to make money "anytime, anywhere" (!). You can make some money, but it's not anywhere near the minimum wage. Investigation is not a lucrative side business. Affiliate marketing from scratch

Don't get me wrong, affiliate marketing works! Affiliate marketing makes a lot of money with a little effort, but there are pitfalls. The catch is that affiliate marketing only works if you have an already established audience, that is, a relatively large audience that delivers tens of thousands of views a month.

Unless you have a large audience that gives you a lot of views and has some interest in what you are marketing, it is very difficult to start with a small audience when it comes to affiliate marketing. Don't start affiliate marketing the moment you start increasing your audience, it certainly won't work. The reason it doesn't work is that building an audience takes time and affiliate marketing doesn't bring you success.

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