There’s money to be made everywhere, especially in a recession. All you need to know is where to look. Heck, there are people even selling rocks as pet for millions of dollars as a side hustle.
There’s money to be made as long as you are hungry enough to find it. So if you want to get rich in 2023, be sure to check out these side hustle that you can work on!
All 10 Side Hustle can make over 4-figures
So I want to go through the 15 different types of side hustles you can get started in a recession. Each of these side hustle must be able to earn over 4-figures minimum in order to be worth working for. For each one, I’ll rate the difficulty from one to three stars with three being the most difficult.
Starting off, the best way to start a side hustle is a ⭐star difficulty. Selling Notion template!
Think of Notion as a combined Google Drive, Jira, Trello, and Evernote on steroids.
Basically, notion lets you build out custom templates and workspaces like a campaign calendar or Progress Tracker, budget management tool and more wood you can then sell something for just a couple of bucks and others can go for over $100. A recent news published by Business Insider shared how Notion template seller, Jason Ruiyi Chin made over $200,000 in 2022 with it.
How to Start
It’s relatively easy to build out these templates, and there is a tonne of free resources online to learn how but the easiest way to start is to check out existing templates that you find helpful on these links, download them and break them apart to learn how all the pieces fit together. But one of the hardest things about this is actually coming up with a template idea that people actually want to buy.
The trick is to create something valuable that will save people time or effort and the best way to do that is to look towards your own life and solve a problem that you struggle with. For example, do you wish you had a better way to manage your work document or your homework or be able to budget your money better?
Simply build something to solve your own problems and then you can sell that solution on websites like Gumroad, Etsy, or your own blog.
The second business is a ⭐ star difficulty and there’s so much opportunity in this space because it’s relatively new. And it’s called Content recycling.
Forbes surveyed that more than 2 million creator are making over 6-figures from content recycling. It’s not what you think when people usually talk about this. They just mean taking a long-form video cutting it up and turning them into shorter videos, but there’s actually a whole other side to this entire thing that is beyond the typical Tiktok reels and YouTube shorts.
There’s so much potential in space for Twitter threads when you post podcast logs and any other form of social media. I noticed many Fiverr sellers started selling this sort of service, reaching out to content creators and businesses on any social platform and offering to repurpose their platform content like YouTube videos, Tik Tok videos, or blog posts to a Twitter thread or Twitter threads to LinkedIn.
How to Start
But before you do outreach to anyone, you need to be able to stand out because there are a tonne of people already pitching the exact same thing. Honestly, they all sound the same.
The trick to differentiate yourself is to take action first, instead of telling your clients that you can cut up their videos. In your first email outreach, you should already send me a short video so you can immediately see the video output and your skills.
Starting a niche YouTube channel is probably the more popular and common side hustle to make an income which comes in at ⭐⭐ star difficulty.
What’s awesome is if you have any hobbies or knowledge, whether it’s out making the sale, health, fitness technology, or anything you believe will help and serve your community. You can use YouTube to turn it into an income-generating machine.
Everyone is doing it! To start making money, you will need to join the YPP(Youtube Partner Program), the requirement to join is that you must have:
- Good standing with Youtube
- Have at least 1,000 subscriber
- Have 4,000 public watch hours in the last 12 months
If you ask me, the requirement is so easy to reach! The best part of Youtube is that you can leverage it to build other platforms such as your own business or grow a network.
Although the requirement is easily obtainable, making a decent amount from Youtube takes time. You will need to consistently be uploading content to get viewers hook into what you are able to provide.
The fourth side hustle is a ⭐⭐⭐ star difficulty and it’s starting a very specific type of digital agency which is actually a lot more simple than the name implies.
The best way to break into this field without any experience an agency just means you’re selling some type of service to another party, but you want to focus on digital marketing.
How to Start
What you want to do first is just start your digital agency by offering just one type of digital service whether that’s SEO, PPC, branding, growth, marketing, or content marketing. Find one service that you’re really interested in learning about and then deep dive into it.
First, build a portfolio by doing the work for free for just one to three people on Reddit. Afterward, you need to build a website to attract more customers and show off your portfolio. I can’t emphasize enough how important having a great-looking business website is.
Trust me it’s going to make you stand out from the competition. I have to admit before I made any websites, I did a tonne of research on where I should host and build them and I couldn’t find any platforms that are like everything was either too slow, overly complex, or way too expensive.
What you need
I built my site on WordPress which has a bunch of free themes and plugins so I could customize the site how like without needing to learn how to code and now I have this consultancy business with my portfolio. It was super easy and quick to make.
In addition to having the website, here’s the second way to really stand out offer value for free upfront. So if you decide to start with a paid service, offer potential clients a free PPC audit to show them where they’re wasting money and how you will come in to improve their performance after you master this PPC service and have a good amount of reoccurring customers.
Go back to this the services that I mentioned earlier and pick the next one that you’re interested in learning deep dive into this and then upsell this new service to your existing clients and expand your agency. And the cool thing is it’ll be super easy to upsell because all these digital marketing services are intertwined. So if you make a good first impression, chances are you’ll pick up another service that you’re selling!
Fifth is reselling and it is a pretty common side hustle which is why it is a⭐ star. The benefit of real-life arbitrage(taking advantage of price differences across markets to make a buck) is that people usually give away things and you’ll need little money to start.
During recession, people unfortunately lose their jobs, which leads to two things.
- People will start selling their old things and garage sales for cheap for extra money.
- People will move to smaller places and will need to get rid of their stuff and so they would probably give it away for free on Craigslist, Carousell, and Facebook marketplace.
Here’s how to tell if it’s going to be profitable. Go to websites like Amazon, eBay, or any other price records and check the item’s price history and see if the item has high price fluctuation which could mean that you would have a higher profit margin opportunity when you sell it.
With⭐ star rating, it’s one of those uncommon jobs that we use and is very profitable. In fact, the average salary is over $70,000 and all you need is a computer. With internet copywriting, this side hustle is essentially writing with the goal of persuading the reader to buy something.
How to Start
When your first starting out, you can learn how to do this 100% for free online and practice writing on writing platforms like Medium. The benefit of writing on Medium is that you get the opportunity to join the MPP(Medium Partner Program) where you can start monetizing your content. It’s a pretty passive income where your content can make you income for many months.
Then if you would like to find clients, you can go to Fiverr, Upwork, or LinkedIn to sell your services to them. For starters, you may want to sell it at a lower price and subsequently increase it once there is high demand for it.
After you have a good understanding of copywriting, take on some free projects from Reddit to build out your portfolio and then similar to before create a business website and host your portfolio so you can start marketing yourself and attracting more clients.
If I could go back in time instead of working in business management, I would have done this because the amount of money you can make is just ridiculous. Rematching freelancer is a ⭐⭐star difficulty but it has high ticket sales, basically being able to sell premium products and services and getting a sales commission.
So if the product you help sell costs $15,000 and you get a 20% commission that you make $3,000 from just one sale. The beauty of working in High Ticket Sales is you can work for whomever you want, wherever you want, and you actually don’t need to create the product yourself. To start you need to understand the fundamentals of sales and practice it.
The best athletes in history didn’t become great because of some unique talents. They became the best because they put in the work mastering the fundamentals and obsessing over them and finding work is going to be the easy part. There are a tonne of creators and businesses online that have amazing courses, mastermind coaching businesses, and more. But a lot of these creators are focused on creating and improving their products so don’t have too much time to focus on sales with potential clients.
How to start
And that’s where you come in!
Reach out to these creators and businesses to work as remote High Ticket Sales closer for commission. Chances are the greater probably won’t mind bringing you on because you don’t get paid unless you actually close a sale. After you get more practice and develop your own sales style, you can start a business where you train others to do high ticket sales and find the entire operation there before I get into the next couple of ideas.
Renting out unused spaces
Too much space at your own home? Here is a⭐ star side hustle and all you really need is to live in an apartment or house so you can start renting out your extra space to store other people’s stuff.
Do you remember what I said earlier? About recessions and the outcome of that.
During a recession, people unfortunately lose their jobs. This forces people to move to smaller places and will need to get rid of their stuff and some will give it away for free on Craigslist and Facebook marketplace. Well, couple this with millennials being priced out of owning a home and baby boomers downsizing their houses. There are many people looking to store their extra spot.
How to start
To start listing your extra space, you can try it out on Craigslist or Facebook marketplace and charge a monthly retainer basis per item. You can also upsell your services to like offering pickup delivery service or even help them pack if there isn’t enough space in your home then get a friend on board offer to pay them some money to store stuff in their basement or garage or whatever.
Eventually, you can expand and find the actual cheap storage space to take on more clients.
Print on Demand
The next business is ⭐ star and it’s creating on demand. You see the problem, with traditional online stores, you really need three things to start.
- audiences sell
- a place to store inventory
- Type of shipping infrastructure
With this business, you don’t need to get that. All you need are two free websites. First is Etsy a marketplace to sell your items and to any print-on-demand website. You will design your product on the Print On Demand website, but it will actually create or ship the product until someone actually places the order the Etsy and the cool thing is on Etsy and you want to discover and buy your product.
How to start
So start to create some cool-looking designs that you think people want to buy. Then you want to pick the products that you want to put the actual design on the Print On Demand website. Like a hoodie, phone cases, socks, mugs, bottles, or anything your website offers.
Then you go and create a listing on Etsy to sell your product and here’s how the magic flows. First, someone discovers your product on Etsy and they buy your product and send you their shipping details. You then go on the Print On Demand website and place an order for the product. The print-on-demand website then creates it and ships it to the buyer super easily!
Pet sitting has been a growing trendy side hustle for many young students and digital nomad. The perks of the side hustle is you get to play with pets while working on your other side hustle as well.
I used the PetBacker app to link up with customers and provide pet boarding, sitting, and walking services to make money. The friendly and supportive community makes me want to help out and take care of these pets! Not only does it allow the flexible choice to pick when you would like to commit the service.
If you want to start using Petbacker, you can use my referral link by clicking here. PetBacker is a company for taking care of pets, so you can get people to take care of your pet or you can help take care of others.
Lesson you need to Master
Do note that before you actually start any of these businesses, it’s important to learn how to actually maintain and grow your money. Otherwise, you’re just gonna lose everything. Take a least a month or two to learn and inform your client that you are just starting out so that they can be a little more lenient on you.