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💡 The Importance of Side Hustles
Side hustles are essential for students and anyone looking to diversify their income streams. They provide flexibility, fun, and financial rewards, which can significantly enhance one’s lifestyle.
Ali Abdaal emphasizes that making money is about providing value to people who are willing to pay for it. Understanding this principle is crucial for anyone looking to start a side hustle.
📚 Becoming a Writer
Writing is a lucrative side hustle that fits into the content creation category. It requires minimal investment and can be started from anywhere in the world. Jack Reigns is a prime example of a successful writer who started while he was a student at Columbia Business School.
Jack’s newsletter covers finance and travel, attracting tens of thousands of readers. He charges $1,400 per ad in his newsletter, making around $5,600 a month. Besides newsletters, writers can also earn through consulting calls.
Platforms like Substack and Beehive allow writers to create free accounts, making it easy to start. The key is to provide valuable content that resonates with readers.
🔍 Content Curation
Content curation involves gathering and sharing valuable content created by others. Eduardo Morales, who runs the Instagram account Pin Lord, grew his account to over 100,000 followers in less than two years and makes $3,500 a month.
Another example is Alex from Alex and Books, who curates book insights and summaries on social media. Content curation can be a profitable side hustle if done consistently and effectively.
However, content businesses often follow a J-curve, requiring significant initial effort without immediate financial returns. Patience and persistence are key.
🎨 Thumbnail Design
Thumbnail design is a service-based side hustle that offers immediate financial returns. YouTubers, like Ali Abdaal, are always in need of high-quality thumbnails to attract viewers.
Dill Tomah started designing thumbnails for gaming YouTubers while in school and now charges over $250 per thumbnail. Matt Brighton, another example, made over $10,000 designing thumbnails on Fiverr.
To succeed, aspiring thumbnail designers should focus on creating better thumbnails than those currently used by YouTubers. This approach increases the chances of landing clients.
📚 Research Assistance
Research assistance is another valuable service-based side hustle. Drew Bernie, a Ph.D. student, landed a job as Mark Manson’s research assistant. Similarly, Billy Oppenheimer secured a position with Ryan Holiday through a well-crafted cold email.
Research assistants help content creators and authors by gathering and analyzing information. This role requires a keen eye for detail and the ability to distill insights from various sources.
📞 Remote Sales Representative
Remote sales representatives help companies sell their products over Zoom calls and phone calls. This role is ideal for those who enjoy talking to people and have a knack for sales.
Wouter Tui Toi Nissan, a student in the Netherlands, sold $250,000 worth of ads in 60 days while studying full-time. Remote sales reps earn commissions on the products they sell, making it a lucrative side hustle.
💻 Web Design
Web design remains a high-demand skill. Chris Misterek taught himself web design using free tutorials and now earns over $3,000 a month. Henry, another example, learned web design in six months and now charges over $10,000 per project.
Web designers can find clients through platforms like Upwork or by networking on social media. The key is to build a strong portfolio and continuously improve your skills.
Conclusion
Side hustles offer students and professionals the opportunity to earn extra income and gain financial freedom. Whether it’s writing, content curation, thumbnail design, research assistance, remote sales, or web design, there are numerous avenues to explore.
Start by identifying your skills and interests, and then choose a side hustle that aligns with them. With dedication and effort, you can turn your side hustle into a significant source of income.
For more detailed information on making money through side hustles, be sure to check out Ali Abdaal’s recommended resources and courses.