Curious if anyone has or knows friends who have sizable side hustles (netting $10k+/yr) and what it is/how they got into it.
Ideally looking for something that once started doesn’t take more than a few hours a week to maintain and has the ability to scale.
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Drop-shipping works pretty well for some fellas I know, and it seems like it takes much less work after you've started generating that kind of profit. From what I understand, most of the work involves creating a "brand" for your site and sourcing products.
How did they identify their niches? if you dont mind me asking.
Thanks!
You could type in “how to market a product” on youtube and be displayed with hundreds of thousands of tutorials and videos, in which you would have to end up plugging certain information streams and implementing them into your work flow. Another way is to find a course, but i would be careful with that, being that some “course sellers” do not actively run their own companies. Just be sure to do your research before making any decisions.
Sure drop-shipping, or e-commerce brands can work, but if you’re really looking for a scaleable additive to your income stream, starting a marketing company should be your first step. Will give you the information of marketing a product for when you do want to drop-ship, or start e-commerce. Once you lock in your first 3 clients on a 2 quarter contract ($2-3k PM w/ 5-7% ROAS recommended,) hire your VA’s, Media Buyer, and content team, and let it autopilot.
Where could I find more info about marketing a product for a client?
Thanks!
How do you go about finding clients? Should they be physical businesses or just online storefronts?
Also, I can get my head around scale once you have clients and a team starting to be built out, but how do you recommend getting to that point? Also, should I be looking to gig workers or how do you suggest going about finding talent?
Finding clients can be a headache in it of itself. What I recommend is finding something you are familiar with and rolling with it. For me it was investments and banking. You should focus mainly on outreaching these companies. The more work you put in, the better results you'll have. I also would try to stay away from online/product sellers. Mainly because the sales will vary each month depending on the company. It's a lot easier to work with a company that you know or a company that offers a high ticket service. As for finding VA's and media buyers, UpWork and Facebook Groups will be your best friend.
If I had a finance background I would build 13w models for companies with $5m - $20m in rev and offer other mini-CFO type services on a menu.
Could easily net $1m+ assuming you are already in PE/IB and relatively intelligent. Obviously it wouldn't be a side hustle at that point :)
How much would you charge for one of these models?
focus on getting better at the main hustle broski
Easy. Dropshipping
I hope anyone reading this thread notes that of the 3 accounts that have mentioned/advocated for drop shipping, 2 are less than 48 hours old and the other one is a few months old w/ this being 1 of its only 2 comments. It's not a legitimate route for 99% of people, which of course is why every ad on YouTube and half the fake finance bros on IG/TikTok pretend it's some huge secret to wealth creation. If it were actually a viable, scalable business with such high ROI relative to time investment then there would be small PE/VCs chasing after it which obviously, there are not.
Lmao go blow a goat. I was just trying to give some input and help out.
How rude. Why on earth would someone talk about their mother that way?
Getting defensive ey?
Anything out there?
Admissions coaching
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