Gone are the days when a single 9-to-5 job was the sole source of financial stability. With the rising cost of living and the desire for a more flexible lifestyle, many are turning to side gigs as a way to supplement their income, achieve their goals and even pursue their passions.
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From selling handcrafted goods online to offering freelance services or diving into the world of content creation, side hustles are empowering individuals to take control of their finances and their futures. Whether you’re looking to pay off debt, save for a dream vacation or replace your full-time job, the opportunities are endless — and often surprisingly profitable.
Here’s a closer look at one specific side hustle that earned over $1 million, and some tips for developing your own.
Jenny Woo’s choice of hustle was “Mind Brain Emotion” — card games designed to foster emotional intelligence through a variety of topics like interpersonal skills. She sold these decks on Amazon and ultimately brought in $1.71 million in a year, which averaged out to $142,700 per month in passive income.
Woo created the product and then continued to make money from it without having to do any more work herself, establishing a very lucrative passive income stream.
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Of course, it’s important to note that stories like Woo’s go viral precisely because they’re unique. While this shouldn’t discourage you from pursuing something you believe in, keep in mind that Woo has five degrees and over a decade of professional experience. Your burgeoning side hustle can start off small and still find long-term success, though.
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Engage in affiliate marketing and promote other people’s products. You won’t be bogged down by handling inventory or fulfilling orders and you can instead focus on spreading the buzz.
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Make your own digital product. You can easily sell this online, whether it be artwork or a workbook. As a digital product, your profit margin will be greater than physical products, you don’t need to pay for storing inventory and the notion of shipping becomes moot.
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Publish E-Books on Amazon’s Kindle Direct Publishing (KDP). You don’t have to pitch your idea to a publisher, and you have the potential to earn up to 70% in royalties from the corporate monolith’s millions of users. Still, publishers exist for a reason, so make sure you have someone competent review your work to better your odds that the book gets recognition among the nearly 1.5 million other self-published books.
