- Just imagine you could quit your job tomorrow
and spend all your time doing exactly what you want
with no one telling you what to do ever again.
Maybe you'd choose to relax by a beach
or build a business that changes the world.
Honestly, when you have true freedom
it's entirely up to you how you spend your time.
Hi, guys, it's Mark.
So you may think this sounds like a fairy tale,
but this is how I've lived my life for the past 30 years,
and I'll put that down to one very important thing,
starting a side hustle.
But not any old side hustle,
something that can grow into a different beast entirely.
So, today let's discuss seven side hustles
that have the potential to make you a millionaire.
I'll be running through what each one is,
how to do it, and ranking them on a tier list
for their million dollar potential.
Side hustle idea number one
is becoming a social media manager.
If you are looking for something that you can do from home
in your spare time then this might be for you.
Using social media is a skill
a lot of Millennials and Gen Zs overlook.
After all it seems like everyone can use it.
However, the older generations really struggle.
I mean, have you ever looked at a business's Instagram page
and thought it didn't represent them in the best light?
I've seen it time and time again.
I hate to admit it,
but I overlooked social media for a long time
and I didn't see it as a legitimate business tool.
It was only after my son started posting videos on YouTube
that I saw the power of online marketing.
Many business owners still haven't woken up to
the online world,
and that's where you can step in as a social media manager
by helping a company unlock its online potential.
In addition to this,
many influencers are really pushed for time.
Once it's gone, it's gone,
and as the face of their brand
they are more effective creating content.
So your services are very valuable to the right people.
Once you position your offer like this,
you'll be able to charge much higher prices.
It's all about switching your mindset.
You aren't just handling their social media.
You are giving back their time.
A great way to get in the door
is starting a few Instagram theme pages
around different topics,
such as cats, cars, or even finance.
You can then spend few months growing those
and seeing if you enjoy the process.
The next step is to reach out to creators and businesses
using your pages as examples of your work.
Having solid case studies that prove your credibility
can make hiring you a simple decision.
As this side hustle gets more well known,
you are going to face some serious competition.
A great way to stand out
is to create bespoke marketing strategies for each client.
The aim is to make your clients feel special
which then creates strong long-term loyalty,
which keeps 'em coming back again and again.
But how likely is this side hustle to make me a millionaire?
Well, all the side hustles in this video
have the potential to make you a millionaire.
However, some are more scalable than others
due to a mixture of factors, such as demand, time and money.
There is definitely a high demand for social media managers
as it's no secret that influencers
are more popular than ever,
and brands are rushing to work with them.
It's also something you can start with very little money,
because if you live in a first world country,
then you probably already have a smartphone.
The only issue is that it's heavily reliant on your time,
meaning there is a cap on the number of clients
you can take on all by yourself.
This would really hold you back from scaling
without hiring additional staff.
So, I'm gonna put this one in the bottom tier.
For you to earn millions from this side hustle
you will need to become very good at what you do
and then good at training and leading a team.
Side hustle idea number two
is becoming a high ticket salesperson.
The beauty of this side hustle is
that you only have to become good at one skill, selling.
I believe almost anyone can learn how to sell effectively
if they put the time and effort in.
About 20 years ago I took on an apprentice in my business.
He was a very shy kid, but he had a great work ethic.
I took him under my wing and after a couple of months
he was one of my best salesmen.
He now makes his living using his sales skills
and earning commission.
Sales isn't seen as the most glamorous side hustle
in the world as many people think of
those slimy used car salesman.
However, those are just the bad ones.
The good ones make the process enjoyable
for their customers.
To be honest, if you master sales
then you'll be able to make good money
no matter what the economy is doing,
as companies will always need your help
to shift their products.
Salespeople are always the last ones to get fired
as they're so essential.
The best way to get started is
to approach different businesses
that sell high value physical or digital products
and offer to sell their products in return for a commission.
This means they have little to no risk
because if you don't sell anything,
they don't have to pay you.
But, on the other hand,
this gives you an almost unlimited upside potential,
as more you sell, the more you earn.
You're then being paid based on your performance
rather than your time which is far more scalable.
I've been selling products all my life,
from the fish I used to catch in my teens
to the radio control models in my shops.
The best bit of advice I can give you
is to listen more than you talk.
And I mean, really listen.
The best way to remember is you have two ears and one mouth,
so the rule is listen twice, talk once.
The customer usually gives you
all the information you need to close a deal.
All you have to do is put yourself in their shoes
and provide them with the best product for their needs.
I'm gonna put this in the mid-tier.
As you don't need money to get started,
you're paid on performance and the demand extremely high.
The only reason it's not making it into the top tier
is because you have to deal with a lot of rejection,
which is one of the hardest things in the world.
This means a lot of people will give up
before they even get started.
Side hustle idea number three is Airbnb arbitrage.
Real estate is such a powerful way to make money.
However, to buy real estate,
you need a lot of money to get started.
That's why Airbnb arbitrage is a great way to make money
from real estate without even owning a property.
Just imagine you rent a house for $1,500 per month.
If you then put that house on Airbnb for $150 per day,
then you could pay off your rent in just 10 days.
That would leave you with nearly $3,000 in profit
at the end of the month.
Of course there are other expenses that come with
running these Airbnbs, like potential maintenance.
However, it's still possible to make a healthy profit.
You can tell I'm passionate about this one.
This sounds too good to be true.
Are you sure this is legal?
The good news is that Airbnb arbitrage is allowed,
but it does depend on the short term rental regulations
where you live,
and having the landlord's permission.
You may be thinking, why would a landlord agree to do this
when they could just do it themselves.
While it's true they could be making some extra money,
these short term rentals are nowhere near as passive
as long term ones.
Lots of landlords just want an easy life
with reoccurring rents every month,
and as little work as possible.
Stocks are also great at providing
this kind of passive income,
so if you'd like to start your investing journey
then public.com are currently giving away
a free stock worth between three and $1,000
when you sign up and fund your account with as little as $1.
Just remember with investing your capital is at risk.
As I mentioned before, when you are selling anything,
even the idea to start a short term rental to a landlord,
it's very important to put yourself in their shoes.
If you run into any trouble
there are two huge selling points
I would definitely highlight,
The first is that they will always get paid on time,
and not have to chase after a late tenant.
This is because you'll be making a healthy profit,
so rent shouldn't be an issue.
The second is,
as you are paid based on the quality of the Airbnb,
this means that the property will always be taken care of,
and probably to a higher standard
than a normal long term tenant.
I'm gonna place this one in the mid-tier,
as I believe once you've learnt the ropes,
it's entirely possible to scale this side hustle
to seven figures by increasing your property count.
The only drawbacks are if demand slows
due to some kind of crisis, like the virus,
the risk of regulation,
and its reliance on platforms like Airbnb.
Side hustle idea number four
is starting an eCommerce store.
Imagine waking up and seeing
you've made a hundred sales overnight.
Let me tell you, it's the best feeling in the world.
I used to have my phone make a
(cash register dings)
sound every time I made a sale.
But now because I sell so much stuff,
I had to turn it off because my phone just wouldn't stop.
That was a light humble flex.
But the point I'm making is
when it comes to this side hustle I've got experience.
eCommerce is basically a shop but online.
This can be done in so many ways,
like selling on third party platforms,
like eBay or Amazon,
or even creating your very own store
using tools like Shopify and WordPress.
When it comes to eCommerce
it's all about picking your niche.
I see a lot of people creating stores
selling any old rubbish,
but the issue is it doesn't create a very good experience
for your customers.
I like to position myself as the one stop shop
for radio control models.
This helps me get a lot of high ticket orders
from people who don't want to shop around.
So ask yourself, what are you interested in?
It could be gaming items, toys, garden accessories,
or just about anything these days.
I always tell myself,
as long as there's a demand, there's money to be made.
Now that social media is becoming so popular,
you can achieve some real scale.
People are becoming multimillionaires
left, right, and center from selling products online.
And as I mentioned previously,
there's no better feeling than waking up to
hundreds of orders.
- [Camera person] You're just getting excited
thinking about it, aren't you?
- I blooming well am.
I'm gonna place this side hustle in the top tier.
The pandemic is accelerated the online shopping wave,
and I think it's here to stay
as people are spending more than ever.
I believe as long as you have the right products
at the right price,
there's sweet profit to be made.
Side hustle idea number five is becoming an influencer.
Never in human history has it been easier
to have your voice heard by the world
by simply switching on your phone, talking to the camera,
and in the process, make millions.
Influencers also have something TV can't replicate,
human connection.
This is where the term influencer comes from,
as this connection is very powerful if used correctly.
We're even now seeing huge businesses
being built off the back of YouTube success,
like Mr. Beast Burgers,
and the Prime energy drink by KSI and Logan Paul,
which are actually three of my favorite YouTubers.
A study actually recently found
that more kids now dream of being professional YouTubers
rather than astronauts.
That's a crazy statistic,
and you'd probably think this means competition is high.
However, out of the people
that actually start a YouTube channel,
only a few really understand the algorithm.
That's easy for me to say.
I normally say al-tube you-gorithm.
After spending the last two years building up
my YouTube channel from zero
to over a million subscribers with my son,
I would say the key piece of advice we have used
is keeping our content focused.
I talk about how to grow your wealth
and any topics that fit into that mission.
I understand that you guys might not be as interested
in watching me race cars around the track.
So I make sure not to post videos like that,
even though I enjoy it.
Although saying that, maybe some of you would be interested.
It's all about putting your audience first,
and providing them with valuable content
without asking for much in return.
That's why I mentioned things like
grabbing $10 worth of free Bitcoin from Coinbase
when you open an account.
It gives back to you guys
and it's basically free money.
I'm gonna put this one in the top tier,
as I believe that no matter your age or interest,
you can find a way to make money on social media.
It might be hard to get started and find your niche.
But after a few months of posting
consistently high quality content,
there is nothing really stopping you from making millions.
Side hustle number six is being an online coach.
The education system is broken
with more people than ever turn into the internet
for affordable training
from business coaches to personal trainers.
If you know something valuable
then you can now monetize your knowledge like never before.
University is in the business of making debt slaves.
They get you trapped paying back your loan for years.
This is why I believe the internet is
a great alternative option.
This can be sold online in a variety of different ways,
such as eBooks, consultation Zoom calls,
memberships, and even dare I say it, online courses.
Of course they are good and bad online teachers,
and not everyone is in it for the right reasons.
However, if someone is promising to teach an actual skill,
then I don't have an issue with it.
Many online coaches use a funnel to sell their products
which is a very effective tool.
A funnel simply put is your customer journey.
Your aim should be to convert them
from people that have never seen you before
into huge fans of what you do.
I'm gonna put this in the top tier
as it's highly scalable, relatively passive,
and the demand is through the roof
due to the failure of our current education system.
Side hustle idea number seven
is starting a social media agency.
Social media is on the rise.
Influencers are making millions,
and 80% of the world's population already has a smartphone.
Well, what if I told you
you didn't need to be an influencer,
or even reveal your face to the general public.
You just need to be the bridge.
Mark has well and truly lost it.
He's telling me to be a bridge.
With people spending more than ever,
and the great success of influencers,
it makes perfect sense
that brands are utilizing influencer marketing
to get customers and make sales.
The big problem is influencers can't reach brands,
brands can't reach influencers,
and it's an endless cycle of people not communicating,
or even worse, not knowing their worth.
This is where your social media agency comes in.
You can start off doing all this by yourself
by signing influencers to your agency,
and connecting them with the brands,
working as the middle man in exchange for a commission.
Of course you will need communication, sales, and IT skills,
but I see this industry really taking off
as we enter into a more interconnected world.
Now, I know you might be thinking
this seems very complicated and hard to get started.
And to be honest, you're probably right.
Getting rich isn't easy and it takes a lot of work,
but a little bit of advice from me.
If you see big potential in working with particular clients,
then you could always suggest a time period
where you work for free.
In this time it's really important to prove your worth
and make yourself indispensable.
A lot of people are against the idea of working for free
and believe that you should always be paid
at least a little bit.
I disagree,
'cause if you set your starting price too low
then it's hard to increase.
If you make it clear that you are working for free
to prove your worth,
then you're in a much stronger position for negotiation.
I'm placing this side hustle in the top tier,
as I believe this is so much more than a side hustle.
It's a real business with huge potential.
As you grow you can hire more people
and sign more influencers.
The upside potential is endless,
and with the right strategy,
millionaire status is inevitable.
So it's clear a side hustle is the key to your success.
However, it's equally as important to think about
the long term potential of the one you pick.
The worst thing you can do is trap yourself
into a second job.
The aim of this is to give you freedom,
so if it's not something you are enjoying,
then there is no shame in quitting and trying something new.
So I'm gonna leave the next video right up there,
but don't click on it just yet.
Make sure to subscribe if you wanna grow your wealth.
Okay, I'll see you over there.