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- 4 Side Hustles to Generate $100,000+
4 Side Hustles to Generate $100,000+
I'll guide you through four of my top choices, discuss their advantages and drawbacks, and provide some useful insights to help you hit the ground running.
Alex Colhoun
May 17, 2023
I'll be introducing you to four diverse side gig options that can potentially bolster your income to over $100,000.
Given the economic downturn that seems to be on the horizon, it's an opportune time to strengthen your personal brand and leverage the internet for supplemental income.
But, how can you identify the perfect side gig that aligns with your interests?
I'll guide you through four of my top choices, discuss their advantages and drawbacks, and provide some useful insights to help you hit the ground running.
Ready to jump in?
Establish a service-oriented business
Service-oriented businesses typically involve exchanging your time for money.
Why service-oriented businesses appeal to me: They are generally easier and cheaper to start, and you can usually demand 2x to 5x more than your regular hourly wage.
Downside: Scaling can be challenging unless you recruit a team (or outsource) and transition into a more managerial role.
Steps to get started:
Identify and refine your unique skill set.
Regularly discuss your skill and its application online.
Offer your services to companies pro bono and document their progress.
Compile strong testimonials and case studies for your website and social media.
Transition to paid services by leveraging introductions and your proven track record.
Following these steps will help you build two client pipelines: LinkedIn and referrals.
Recommended tech tools for beginners:
Develop a paid online community
Online communities usually use platforms like Slack, Discord or Facebook, Circle, or Mighty Networks.
Why paid communities appeal to me: Crafting a forum where like-minded individuals can connect greatly enhances your brand, fosters trust, and deepens relationships.
This helps grow your audience and expand your business.
If you nail community building, it can be the most potent of these four side gigs.
Downside: It's challenging to start, scale, and sustain. The effort required is often underestimated by nearly all community creators I converse with.
Recommended tech tools for beginners:
Design a digital course
A digital course can be a profitable way to share your unique knowledge with others.
Why digital courses appeal to me: The courses are available for purchase round the clock, and you have the chance to set up a lucrative affiliate program to boost sales.
Downside: It requires substantial traction around a particular topic on social media. Most people rush to sell courses instead of focusing on audience growth.
Recommended tech tools for beginners:
Lots of people on Twitter talk about side hustles, but very few actually tell you how to start.
Here's how you build a side hustle (with a full-time job):
• Find a topic you can talk about for 30 minutes unprepared
• Publish daily content sharing your knowledge— Alex Colhoun (@RubiksLive)
12:15 PM • Apr 24, 2023
Start a subscription email service
A subscription email service involves delivering premium information regularly via email to your subscribers.
Why subscription emails appeal to me: The scalability is impressive.
As your customer base expands, your workload typically remains consistent, which means you can earn significantly more without increasing your efforts.
Downside: If you don't consistently deliver value, you may experience high customer attrition rates.
Recommended tech tools for beginners:
Subscription product: ConvertKit
Subscription newsletter: Beehiiv
So, what is holding you back from starting? Let get it!
Hope you enjoyed this system,
Alex
Whenever you're ready, there are 3 ways I can help you:
1. The Growth Operating System: Join 400+ students and 50+ founders inside of The Growth Operating System. This course will teach you the system I’m using to build a massive audience on LinkedIn & 𝕏 as well as how I generate $15,000+ / month in income.
2. Alex’s Creator Club: This is my private community where you’ll get 1:1 support from me. The value here speaks for itself. Try it for free.
3. Coaching Session w/ Alex: If you’re looking for most efficient way to take your online brand/business to the next level - 1:1 coaching is the way to go. Book a time that works for you and let’s take your business to the next level.
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