2020 posed countless challenges to both our daily and work lives resulting in a potentially negative knock-on effect on our income. Many of us took time in lockdown to reflect on endeavors we enjoy the most, hence the rise of new independent businesses.
Digital skills in 2021 are in extraordinary demand. Many individuals are choosing to open online businesses or market their own freelance services to generate additional income. Here’s a look at the influence digitalization has had on side hustle opportunities with 5 money-making ideas suitable for 2021.
Online fitness programs
Throughout 2020, many people discovered their ability to transform their living spaces into a home workout gym. There are numerous ways you could approach your business idea. While many break a sweat on YouTube, others are keen to purchase personalized fitness plans; it's up to you to find your niche.
Grow your client base by offering free live workouts on platforms such as Instagram and YouTube. Not only will you build a relationship with your target audience, but you'll also have a better idea of what they'll be willing to buy. Consider incorporating activities that improve mental well-being and mindfulness.
To gain some perspective on how much your clients would be willing to pay, the average person spends $65 per month on fitness alone. Trainers can charge acceptable rates of $40-$90 per hour of personalized training.
Become a virtual assistant
By the end of 2020, eCommerce in Australia grew by a staggering 31%, indicating a sharp rise in online business creation. In response to the growing demand for Virtual Assistants, consider offering your own service that operates in line with your own commitments.
Virtual Assistant responsibilities may include:
- Digital administration.
- Content planning and creation.
- Email management.
- Social Media Management.
Social Media is the best place to initially promote yourself and reach out to business owners. Depending on the extent of services you provide, Virtual Assistants can charge anywhere from $20-$100 per hour. Aim to build a portfolio to prove credibility for future clients who may offer to pay higher prices.
If you're looking to generate additional income with minimal effort, affiliate marketing could be for you. Coordinate with businesses willing to post ads and sponsorships on your blogs, YouTube videos and social media posts. In return, the company will pay you for every click the affiliate link receives.
Affiliate marketing has become one of the most passive forms of income with consumer clicks generating $300-$3,000. We advise you to incorporate elements of SEO to extend your audience and boost the number of clicks.
Low-level affiliates could earn up to $300, whereas high-level affiliates make over $3,000 in just one day. Configure SEO into your content to attract a more extensive audience. Affiliate marketing has become one of the most passive forms of income.
Offer freelance services
- Project management.
- Social media management.
- Graphic designer.
- Tech expert.
LinkedIn is an excellent platform for any freelancer to introduce themselves to their desired industry and connect with businesses interested in their services. Freelancers benefit from setting their own working boundaries such as time schedules, who they work with, and how much they earn.
Open an online business
Online selling spaces such as Depop, Etsy, and Amazon are great platforms for any business owner starting out. Now we know that the eCommerce market is booming, it is down to you to decide your niche and learn from your competitors. With yourself as your own boss, you can easily mould your business to suit your daily life and generate a steady income.
Your business endeavor could offer:
- Handmade goods.
- Textile printing.
- Digital products.
Not only can your side hustle support you financially, but it can give you a taste of entrepreneurship. Use the opportunity to enrich your skillset and make valuable connections. Remember to utilise free platforms such as social media to make connections and grow your clientele.
If 2020 taught us anything, it was to stop waiting for the perfect prospect to come about, and to simply go ahead and create your own opportunities. These side hustles' digital nature is beneficial to anyone who is frequently on the go, as their business will be largely accessible anywhere.
Luke Fitzpatrick has been published in a variety of publications such as Forbes, Tech In Asia and The Next Web. He is also a guest lecturer at the University of Sydney, lecturing in cross-cultural management and the pre-MBA program.