- I've tried many side hustles
in the last five years
as an entrepreneur.
And in this video, I'll be rating them
from the worse to the best.
And the ratings will be based
on how easy is it to get started,
how quickly can you make your first 100 pound,
and how much time do you need to spend on it every week.
So let's get started.
At number seven, we have forex trading.
I first stepped into the world of forex
during the first lockdown,
because I kept seeing these people on Instagram
driving a Lambo and owning mansions,
who were forex traders.
So a guy like me who was broke and was just looking
for any opportunity to make some money,
decided to give it a go.
It was super easy to get started,
as all I needed was a brokerage account and 100 pound.
But, little did I know
that the reason why it's so easy to get started,
is because it's also super easy to lose all your money.
All it takes is one bad trade,
and all your money is gone in seconds.
Yep, you heard me right, seconds.
I would spend weeks to make some money
and just one mistake to blow up the account.
Now making your first 100 pound with forex
can be done in literally minutes.
But once again, you could lose more than that
in a second.
And that's what taught me
that forex is a side hustle,
which will take you a few years to master.
You'll need to consistently spend few hours a day on charts,
reading books on trading psychology,
and just updating your strategy
in order to keep making money,
because you're literally competing against big banks
and institutions who can see all your steps
and can take you down whenever they want.
At number six, we have forex robots.
Now, after doing forex trading for a few months,
I decided it wasn't for me
because I didn't wanna constantly be sitting
in front of charts all day long
just to make money,
and this is when I came across
a thing called forex robots.
And as soon as I saw the first video,
I became obsessed with how it worked.
The idea of using a robot to trade for you 24/7
got me dreaming about millions.
And at this time in life,
I was also in my third year at uni
studying Computer Science,
and learning about algorithms,
so I knew I was about to get rich.
So I deposited 150 pounds in a trading account,
looked for a good forex robot,
and a virtual private server
where I can run the robot 24/7.
And within two weeks,
the 150 pounds turned into 1000 pounds.
This was it, I was already imagining myself
sitting in a Bugatti. - Your Bugatti.
- But after seeing these insane results,
my eyes of greed came out,
and so I decided to open two more trading accounts,
and this time, I deposited 1000 pounds into each of them.
And once again, it doubled my money,
so I took my initial deposit out,
and then came the downfall of the forex robot.
All my accounts blew up
because I spent zero hours a day
looking at the charts or the news.
This is when I realized
that no one can ever time the market,
even if that's a robot,
which can do thousands of calculations within seconds.
So as fast as you can make money with forex robots,
you can lose the money
due to uncertain factors in the market,
plus banks and institutions also use AI to trade,
and they use robots built by super intelligent people,
so all these robots you can buy on the market
are crap compared to them.
At number five, we have dropshipping.
Now, this side hustle was really hard to rank,
because I tried dropshipping
before this new way of advertising using TikTok exist.
I sold a pair of cat themed slippers,
and I used Insta pet-themed pages to promote my store,
and surprisingly, I actually got an order worth of 90 pounds
which was absolutely insane.
But when it came to finding and choosing a product
it was really difficult
because the product I was gonna choose
will determine whether all my money
will be lost in ads or I will make some money.
Luckily, the cat themed slippers did save my ass
and got me some money back,
and that was almost 100 pound
in the first day of starting my store.
However, it could have gone the other way
and my store could have got zero sales
and I would've lost all my money.
But the one downside of dropshipping
is the part after getting orders,
and that is fulfilling your orders
and dealing with your customers because remember,
not every customer will be happy
unless everything goes perfect.
So you will end up having to spend few days every day
fulfilling your orders
and replying to your customers.
You also need to constantly be thinking of your next step
in order to make sure your store does not die.
Moving on to side hustle number four,
Amazon FBA coaching.
This is a side hustle I started
at the end of last year for two reasons.
Reason number one, was to supply the demand
of getting thousands of DMs about mentorship,
and reason number two was to make extra money,
which I can use to reinvest into my Amazon FBA business.
So, I spent almost a month coming up with a program
which can take a person who has never sold on Amazon
to making six figures in a year
if they put in the work and time.
This side hustle was easy to set up,
but it required me to have
over one year of experience selling on Amazon profitably,
as well as having a social media following,
who wanted to learn from me.
So, I would say this is definitely a hard side hustle
to start for a regular person.
But once you have the experience,
and knowledge, and a skill, and audience,
then you can make your first 100 pounds
within minutes of launching your product,
as your audience is already waiting for it.
My Amazon FBA coaching isn't the cheapest,
but it's defo the most valuable service
you can find on the internet,
and the student results say it all.
I can only spend around one to two hours a week,
but I also have a team of three people
on the student group chats
providing support 40 hours a week each.
So if I was doing this all alone,
then I would not have rated
this side hustle above dropshipping.
At number three, it's affiliate marketing.
Now this is side hustle
which I didn't intend to start
but because I'm a content creator,
it just made sense to do so,
as it allows me, my audience,
and the company I'm an affiliate with, make money,
so it's a no brainer.
I first tried affiliate marketing
with Amazon Associates.
When I started making videos on YouTube,
I wasn't monetized.
So I was making 0 pounds,
and so I simply got the links
and all the equipments I used to make videos,
and put it in my description,
so whenever any of my viewer bought the equipment,
I would make a small commission,
which wasn't a lot,
but every penny back then helped a lot.
You can start affiliate marketing right now
by simply signing up
with an affiliate program like Amazon Associates,
or with a brand you like,
which has an affiliate program.
However, making your 100 pound
with affiliate marketing can take a bit longer
if you don't have a following on social media,
as you need to spend some money into ads,
or be creative and make videos
about a product or service on TikTok,
and get people to sign up or buy that thing
using your link.
But what makes affiliate marketing the best
is how you can actually make passive income with it.
Once you have made a blog or video
and linked your affiliate link in it,
then every time someone makes a purchase,
you will keep making money,
even if that is one year after the video is up.
You won't even have to deal with the customers
who buys the product or service
as the company which they bought it from,
will be the one dealing with everything,
and this is what makes affiliate marketing super special,
very special, or just special.
Coming in at number two, Amazon FBA.
Now some of you may be surprised like,
"Jatz, you're the FBA king and you are putting
this side hustle of yours at number two?"
Well, let me explain why.
At the end of 2020,
I had tried multiple side hustles,
and none of them seemed to work out for me
until I came across a business model
I first wanted to try in 2014
when it was popping a lot,
and that was Amazon FBA.
But this time, I came across a slight different model,
which was Amazon FBA Wholesale.
And after learning how it worked,
I knew this was perfect for my lifestyle goals
because I can send products to Amazon,
and they will handle all the customer service,
shipping, and packing for me.
So I can chill anywhere in the world
and keep making money.
What's crazy is that you can make an Amazon account
for 30 pounds a month
and start selling instantly once verified.
However, the chances of you losing money
will be really high
if you have not spent the time and money
learning methods which are profitable.
But once you know how to find the right products
and analyze them,
then you can make your first 100 pounds
on the very first day of sending your product to Amazon.
And you could even make over 10,000 pounds
in your first month of selling on Amazon.
Yeah, that's how fast
you can scale Amazon FBA Wholesale.
The best part is the only time you'll be spending
is one to two hours a week on product research,
as your thousands of orders is being taken care of
by Amazon themself.
Wait, what you doing?
- [Man] There's someone over there.
- Where, there's no one?
What the hell, who the hell is this?
- Yo, what you saying?
- Yeah, I'm good, bro.
- Yo, I heard you sell on Amazon.
- Yeah, I do, what's up?
- Yeah, I'm also a new merchant,
I've made few Ps here and there,
but I wanna do my taxes.
Now I don't know what to do now.
- I think this guy hasn't, what?
He hasn't used Osome.
And if you haven't as well,
let me tell you about Osome.
Osome is a dedicated e-commerce accounting company
that does your taxes and bookkeeping for you.
They have a really simple and easy to use online platform
where you can drag and drop all your invoices
so they can do the bookkeeping for you.
And the best part is you can also see your reports
on how your business is actually doing,
so you can make the right decisions
to make sure your business is even profitable.
You can sign up with Osome right now
to use these amazing services using the link bio
and you'll also get a cheeky 110 pounds off
You got in now bro?
- Yeah, bro.
My guy.
- Love, there you go.
- At number one, it's less of a side hustle
and more of a hobby,
and that's what makes it special
because I make money doing what I love,
and that's content creation.
I first started making videos on YouTube back in 2013,
and I used to enjoy it so much,
but due to the lack of confidence and knowledge, I stopped.
But during the first lockdown in the UK,
alongside with forex,
I decided to start my content creation journey
one more time, but this time,
I started with TikTok.
Then I slowly moved to TikTok
and within the year of starting,
I managed to with over a million followers
on all my platforms combined.
Now to start content creation,
theoretically it's easy
because all you need is a smartphone
and record and upload videos.
However, in order to become successful at it,
you have to make quality videos
for your audience to enjoy, and provide value,
which takes months and years of practice.
This video itself took me 12 hours to script
and one hour to record, which is a lot of time.
And the crazy part is on YouTube,
you cannot make any ad revenue
until you hit 1000 subscribers and 4,000 watch hours,
which took me a good three to four months
of consistent uploading.
TikTok Creator Fund is just to scam
'cause they pay you pennies.
So the best way to make money on that platform
is through brand sponsorships,
which you can't get until you hit
a good number of followers.
So making your first 100 pound with content creation
is definitely not the easiest.
I in total spend
between 25 to 40 hours a week creating content.
So you must be wondering,
"Jatz, this side hustle
should be ranked last and not first."
Now as I mentioned in the start,
this side hustle is a hobby of mine.
So every hour I spend creating content
doesn't feel like work,
and when you love what you do,
money comes in eventually,
and that's why now I'm able to make
a good amount of money just through content creation.
If you have no idea which hobby
do you have right now
which you can turn into a side hustle,
then start by looking at things you'd like to do
on daily basis, and see how you can monetize that.
If you need some business ideas
which will be big in 2022,
then simply go watch this video,
and if you enjoyed this video,
don't forget to hit that Like button
and subscribe for more videos like this.
Have an amazing day, take care, and peace.