What's up everybody, I am Jaspreet Singh, and welcome to the Minority
Mindset. Our parents and grandparents lived in the era of opportunity through
working a job. In this previous generation, if you went to school and got a
job, you were pretty much guaranteed to live a good life, with a pension waiting
for you when you retire. "Back in my day, you worked a job, got paid a nickel, and
you could afford to buy a house". Sorry to say it, but, that era is dead. If you are a
millennial, or a generation Z-er or whatever's after generation Z, and you
follow this traditional system of go to school, get a job, finance a big house,
invest a little bit of money in your 401k, and try to pay down your student
loans, you are going to have to work harder and longer than the generation before
you, for a less lavish life. I got paid a nickel and I couldn't afford a
house, so I bought some avocado toast instead. And now I'm eight thousand
dollars deep in credit card debt. But, that doesn't mean that all hope is lost.
It means that you have to find a new opportunity in our new era. Let me tell
you the reality: so, for 90% of employees, one stream of income will not be enough
anymore. This is what school is too scared to
tell you. However, because of the internet, it is now easier than ever to start
earning the extra money on the side without starting your own business, this
way you can earn that extra cash and take care of your family and continue to
live your life. Hey! Hide my phone, I can't let my main job find out about my side
job. So, here are the seven top side hustles for those of you who are ready
to cheat on your main job, and before we get into it, make sure you hit that
thumbs up button below, and subscribe to the Minority Mindset YouTube channel,
this way you don't miss our new videos every single week. Side hustle number one:
freelancing. How do I make money if it's free, Jaspreet? There's nothing free
about freelancing, especially for the people that will be paying you for your
time. With freelancing, now, instead of starting your own online business,
you are servicing other online businesses, and these businesses will pay
you for your time. I have hired freelance writers, designers, web developers,
marketers, and even voice-over artists, and these are people who I have never met
before, and I have no control over your schedule, but I pay good money for their
services. Plus, as entrepreneurship is becoming more and more popular,
the demand for freelancers is going through the roof, because hiring a
freelancer is so much easier than hiring an employee. Freelancing is something
that doesn't take a lot of money to start. You can do this from home, you can
set your own schedule, and you can set your own prices, and there are a ton of
websites that can help you start. And, because you're on contract, you can
charge a lot more per hour than if you were an employee. If you want to learn
more about freelancing, I'll link a video where I talk more about this in the
description below, but now let's talk about number two:
social media marketing. Every single business nowadays needs an internet
presence, I mean, Minority Mindset is completely built around the internet, but
there are still thousands, and thousands of business owners who think a post is
something you tie a horse to. "I'm gonna take my horse to the—Hey! Where'd my
horse go?" So, if you understand social media marketing, you can charge
businesses thousands of dollars a month to handle their internet presence, and if
you don't understand how to do it, there are a lot of people selling courses that
will teach you how to do social media marketing. Hey, where's my money? Come on,
tick, tock. I don't have all day. You know, because Tik Tok is a social media app...
Get it? Side hustle number three: blogging. So, the word 'blog' is short for 'web log'
and the word 'vlog' is short for a 'video web log' and 'clogging' is my new favorite dance.
Vlogging is when you make videos for
YouTube, or Facebook, or really anywhere on the Internet, so you can build an
audience. What's up, audience? How are you doing? When you build this audience, you
can get paid through advertising, kind of like how you see commercials on TV, on
YouTube, you'll see advertisements before you watch your videos, and you can get
paid through affiliate marketing, which is when you promote somebody else's
products to your audience, and you get paid a percentage of revenue for every
sale that you bring. And, if you have your own products or services, well, now you
just 10x'd your revenue. Think of it this way: let's say you have 10,000 people who
watch your videos, and out of these 10,000 people just 100 of them buy a 10
dollar product. That is 1,000 dollars worth of revenue from just one video to
an audience of 10,000 people. Minority Mindset that has its own product as well.
You've probably seen me talk about our financial newsletter, well here on
YouTube, we provide a lot of financial education, but if you want to make the
smartest money decisions you have to know what's happening in the finance and
business news. This is where our financial newsletter comes in, and our
newsletter is completely free because we have sponsors from other businesses that
we approve, and if you like these businesses, you can support their
business by giving them your business. This newsletter is completely free and
you can subscribe to our financial newsletter, where we give you financial
news you can finally use, by clicking the link in the description below, or by
clicking the link up here. That's exactly how I promote our products, and you can
do the exact same thing. Side hustle number four: e-commerce. One of the biggest
drawbacks to opening your own retail store is, well, you have to open your own
retail store, you have to buy a whole bunch of inventory and keep this in your
garage, which is very very expensive, and you have to hire a bunch of employees to
manage your store and sell your products. E-commerce is actually how I got started
on the internet side of business, because I created this sock and I had a sock
business, but now, there's an even easier way to sell online through e-commerce
through something called 'drop shipping'. If you've ever been to our Minority
Mindset store, at MinorityMindsetStore.com, you've probably seen that we have a
bunch of apparel, from t-shirts, to hoodies, to hats, to mugs that have
Minority Mindset branded things. Well, all of these things that we sell on our
Minority Mindset store are things that I don't keep in my garage.
These are drop-shipped products, meaning I don't actually own any
inventory. When you come on to our store and you make a purchase, that purchase
will automatically go to our manufacturer, and then they will create the product
and ship it out to you, and if you pay $25 for a shirt, well, that money that the
manufacturer needs, who will automatically take it from their $25, and whatever is
left over is our profit. Tons of e-commerce stores now follow this drop
shipping model. Like, if you ever go to an e-commerce store selling those Hello
Kitty sweatshirts for $40, well what's probably happening is the store owner
is getting the Hello Kitty sweatshirt for $8.00 from China, and when you
purchase that product for $40, that order will then go to the manufacturer in
China, who will take $8, give the other $32 to the store owner, and then this
manufacturer in China will take this product and ship it out to you,
the buyer of the product. The key here, the real secret sauce to drop shipping
is how you can get targeted visitors onto your website, because that's what's
gonna drive your sales. Side hustle number five: be a virtual assistant. You
ever see those really shady posters on the side of the road saying: "Work from
home, call this number", and then there's a random phone number that's scribbled on
it with a marker? Yeah, well, this isn't that kind of work from home. There is a
huge market for virtual assistants, where you could be working one to eight hours
a day where you work for another business, or a professional, by managing
their emails, or responding to emails, or making phone calls, or just doing things
to help organize this other person's life. I know this because I have a
virtual assistant, and he gets paid seven days a week, and this is somebody I've
never met before, and his job is to check my emails and make my life easier
because I get tons of emails every single day, and even if there isn't that
much work, he still gets paid. I've never met my virtual assistant, he sets his own
hours, and you don't need a ton of skills to do this. Side hustle number six: take
advantage of online education. When I was just starting to understand how business
worked on the internet with my sock business, I got scammed by a fake
marketing company. Oh no... Oh yeah, and this upset me so much that I went out and I
created a course on how to launch a business without getting screwed over,
because I don't want to see other entrepreneurs
get screwed over the same way I was. I posted my class on a platform called
Udemy, and before I took the class down a few hundred people signed up, and that's
when I realized: "Wow, people really want to learn things online from people that
are actually doing something". You have kids from around the world that want to
learn how to speak English, you have kids in high school, that need help with math,
and you have adults that want to learn how to use Excel on their computer, and
these are all things that you can teach online. If you don't want to start your
own online tutoring company, you can go to one of these other online tutoring
companies and become a tutor here, and teach other people the skills that you
know. And side hustle number seven: wholesale real estate. Ok, so I cheated a
little bit. This one is not a side hustle that you do on the Internet, but, it is
one of my favorite side hustles, and they can easily become a full-time hustle if
you wanted it to. So, I got into real estate through the investing side after
my sophomore year in college. And then, during my junior year in college, I went
out and I got my real estate salesperson license, and I worked for a brokerage
called Keller Williams. Well, the boss in my brokerage was actually a teacher of
wholesale real estate, and she invited me to one of these real estate seminars
where she taught real estate wholesaling. I had no idea what wholesaling real
estate was, and she was like: "Because you work for my office, Jaspreet, I'll
give you a free ticket, which is normally valued at $350". I didn't have anything to
lose, I was getting a free $350 ticket, and I get to learn something about real
estate, so I went, and that's when I learned about this thing called
wholesaling real estate. So, in a very, very general sense: wholesaling real
estate is when you find a seller who is struggling to sell their home—so this
might be a seller who's selling the property for sale by owner—and you go to
the seller and say: "Hi, I want to buy your property". And you enter into a contract
to buy the property for let's say ten thousand dollars below market value. You
have no intention to buy the property, you're just entering the contract to buy
their property, and then once you have this contract, you are gonna market the
same property for sale at a higher price, and then you're going to sell this
new buyer your contract to buy it for the higher price. At the end of the
seminar they pitched a course on how to do this whole wholesaling real estate
thing, and it was a few thousand dollars, which was a huge
investment for me back then, and I made the purchase not really knowing what to
expect, and that's when I learned that there are a lot of ways to do this
wholesaling real estate. I did something called rent-to-own, where before somebody
actually bought the property, they lived in the property as a tenant for 12 to 18
months, paying rent to the owner, and then at the end of this lease term, they
bought the property. I know it sounds a little confusing, because it's a little
bit complex, but it's a great way to start your side hustle. To put it in
context, after I paid a few thousand dollars to understand how wholesaling
real estate worked, I didn't get a sale for the next four months. So, I made no
money for just around four months. And then that fifth month, that was the first
month that I closed a sale, and I think I closed two of them, and I made a total
of seventeen thousand five hundred dollars in profit after my two deals.
That's when I knew I was on to something with this whole wholesaling real estate
thing, so I jumped in with both feet. What are some other side hustles that
people can do either on the internet, or off? Let me know what you think in the
comments below. Thank you for watching, if you enjoyed the video, hit that thumbs up
button and share it with one friend so we can help spread the word.
Don't miss the videos on entrepreneurship, business, and money
every Monday, Wednesday, and Friday at 7:30 a.m. Eastern Standard Time, so hit
the subscribe button, and the notification bell below, that way you actually find
out when our new videos are released, and as always KEEP HUSTLING *