We have covered hundreds of side hustle ideas over dozens of articles. Everything from online surveys to starting an online store to online tutoring. But, the number one question we get asked repeatedly is, “what are the highest paying side hustles?”
So, we scoured through our past articles, asked fellow side hustlers, and did our research. We considered prior education, long-term wealth, passive income potential, upfront income potential, price per hour, overall profit, the spare time needed, and about a dozen other considerations.
When we were all through, we weren’t surprised when we saw what the top earners were. Here is our list of the top 5 highest-paying side hustles for 2023.
1. Selling Online Courses
You can make a full-time income by selling online courses without ever having to leave your home. And best of all, you don’t need any prior experience or special qualifications.
Choose a Topic People Want to Learn
Anyone who has tried to sell an online course knows it’s not easy. With so much competition, making your course stand out from the crowd can be tough.
One way to increase your chances of success is to choose a popular topic. People are always looking for new courses on topics they’re interested in, so by aligning your course with a current trend, you’ll be more likely to attract buyers.
In addition, a popular topic can also help to generate word-of-mouth marketing, which is essential for driving sales. If you create a course on a hot topic that people are talking about, you’ll be more likely to get people interested in taking a closer look.
Research Your Topic
If you’re thinking about creating an online course, one of the most important things you’ll need to do is research your topic inside and out. Even if you’re already an expert on the subject, it’s critical to ensure you include all the relevant information in your course.
And if you’re not an expert, then thorough research is even more essential. The last thing you want is for students to leave your course feeling like they didn’t learn everything they needed to know.
So take the time to research and create a course that will benefit your students. It’ll be worth it in the end.
Identify Your Audience
There are a few different ways to go about this. First, consider who would be most interested in taking your course. What needs or wants does your target audience have that your course could address?
Once you’ve got a good idea of your target audience, you can start tailoring your content to them. This means creating relevant and interesting materials and addressing any concerns they might have about the subject matter.
Create Your Course (Kajabi)
Kajabi is a robust online marketplace that enables you to create and sell online courses. With Kajabi, you can easily upload videos, audio files, and PDFs to create an engaging and interactive course.
In addition, Kajabi offers powerful tools for marketing your course and managing your customers. You can also use Kajabi to create a landing page for your course and accept payments through various payment processors.
List and Sell Your Course
Marketing an online course can be a great way to earn income from your knowledge and expertise. But how do you determine how much to charge for your course?
You can start by looking at the prices of similar courses in your chosen niche. Consider the value of your course, the length and depth of the content, and any unique features or benefits you offer.
You should also consider the cost of production, including any fees associated with hosting the course on a learning platform. Once you have a general idea of what other courses are selling for, you can set a competitive price that reflects your course’s true value.
2. Tutoring
According to a recent study, online tutoring is among the highest-paying side hustle idea available today. The average hourly rate for online tutoring is $30, which means that you can earn up to $60,000 per year if you work it as a full-time job.
In addition, online tutoring is a flexible job that can be done anywhere in the world and on our schedule. All you need is a computer and an internet connection.
You can set your hours and work as little or as much as you want. Plus, you can tutor multiple students simultaneously, earning you more money in the process.
Teach What You know
If you already have a degree or experience in a particular field, you can start tutoring students in that subject. You can also use your experience to teach others how to be effective in their chosen field. For example, if you are a successful salesperson, you can teach a course on effective selling techniques.
Learn How to Teach Effectively
Before you begin tutoring to earn money, you must understand how to effectively communicate your knowledge to others. Students learn differently, so it is important to identify each student’s learning style. Some students are visual learners, and others prefer hands-on learning. By understanding the preferred learning style of your students, you will be able to tailor your tutoring sessions to their needs better.
Where to Find Students
There are several ways to find potential students for your tutoring business. You can start by asking family and friends if they know anyone who could benefit from your services. Some sites that you can try include:
Indeed: With Indeed, you can search for tutoring jobs in your area and apply directly to the listing.
Wyzant: Wyzant is another site where you can connect with potential students and set your hourly rate.
Tutorzilla: Here, you can create a profile, and students can request tutoring sessions with you directly. You can also search for open tutoring positions in your area.
Charge What Your Worth
When starting, it is important to charge what others in your field are charging. As you gain experience and build a reputation, you can begin to charge more for your services. Remember, the quality of your services is just as important as the price you charge. By providing a high-quality service, you will be able to attract more clients and charge a premium price for your services.
When pricing, you should also consider the time commitment required for each session. If you are tutoring a student for an hour-long session, you should charge more than if you were only meeting for a 30-minute session. Also, be competitive while pricing. If you are priced too high, you may not get any students, but if you are priced too low, you will not be making enough money to make it worth your while.
3. Freelance Writing
Another great way to make some extra cash on the side is by freelance writing. If you have a knack for writing and are passionate about a particular topic, this could be your perfect side hustle. The great thing about freelance writing is that you can set your rates and work as much or as little as you want. And, if you build up a strong portfolio of work, you could even land a full-time writing gig down the line. So if you’re looking for a flexible and well-paid side hustle that allows working on your own schedule in your spare time, it is worth considering.
Possible Challenges
One potential challenge you may face with freelance writing is finding consistent work. You must constantly look for new clients and writing opportunities as a freelancer. This can be a bit of a juggling act, but if you enjoy the challenge of landing new gigs, then it may not be an issue for you.
Another potential challenge is getting paid what you’re worth. When starting, it may be tempting to take on any writing work your way, even if it doesn’t pay very well. However, as you build up your portfolio and reputation, you can command higher rates for your work. So it is important to be patient and strategic about the projects you take on to maximize your earnings.
Steps To Get Started
If you’re interested in freelance writing, you can take a few steps to get started.
- First, it is important to determine what type of writing you’d like to do. Do you want to write web content, articles, or blog posts? Once you know your niche, you can search for writing gigs matching your skills and interests.
- Next, create a portfolio of your work to showcase your skills to potential clients. If you don’t have any previous writing samples, start by creating some original pieces for your portfolio. Then, set up a website or blog to house your portfolio so that prospective clients can easily find it.
- Start pitching clients. Once you have a portfolio of work to show, reach out to businesses and individuals who may need your services. You can find clients by searching online job boards or networking with other professionals in your field. Some best places to find writing gigs include Upwork, Fiverr, and Contently.
- Finally, be prepared to market yourself and your services. As a freelancer, you are your own best salesperson. So make sure you are comfortable promoting your work and landing new clients.
- With some effort and perseverance, you can build a successful freelance writing business and earn a great income on the side
4. Starting A Blog
Among many ways to make extra money online, one of the most popular—and potentially most profitable—is through blogging. While it can take some time to build up a sizable audience, you can make very good money once you have a large following. Some bloggers have been able to turn their blogs into full-time businesses, earning six-figure incomes in the process.
1. Choose A Niche Topic
Start by choosing a particular topic or niche that you want to write about—but make sure it’s something you’re interested in because you’ll need to be able to write about it compellingly for years to come. It also needs to be something relatively narrow so that you can become the go-to expert on that topic. For instance, rather than starting a general parenting blog, you might start one focusing on a specific aspect of parenting, such as sleep or potty training.
2. Setup Your Blog
The next step is to set up your blog. If you want to be able to make money from your blog, you’ll need to choose a self-hosted option (this means you’ll need to pay for hosting, but it will give you more control over your blog and allow you to make money from ads and other forms of monetization). We recommend WordPress because it’s easy to use and offers many features and customization options; you need just a few hours to learn it.
3. Start Writing
Once your blog is set up, it’s time to start writing. Aim to post new articles regularly—at least once a week, if not more. Keep your audience in mind as you write, and try to make your posts interesting, helpful, and engaging. Make sure your articles are easy to read and understand and be sure to proofread them before hitting “publish.”
4. Educate Yourself
Finally, educate yourself on what makes articles rank in search engines and learn about SEO (search engine optimization). This will help you ensure that your articles are more likely to be found by potential readers. Additionally, familiarize yourself with how to monetize your blogs, such as through ads, sponsorships, and affiliate marketing. By educating yourself on blogging basics, you’ll be setting yourself up for success from the start.
5. Affiliate Marketing
With the e-commerce industry growing rapidly, it’s no wonder that affiliate marketing has become one of the most popular side hustles in recent years. And with good reason – it can be extremely lucrative, especially if you know how to promote products effectively.
If you’re unfamiliar with affiliate marketing, it’s a commission-based system where you earn a commission on sales. For example, let’s say you have a blog about travel. You could sign up for an affiliate program with a travel company and receive a commission every time someone uses your link to book a trip.
The great thing about affiliate marketing is that there are very few start-up costs – all you need is a website or blog and a willingness to promote products. And, because you’re not selling the products yourself, you don’t have to worry about inventory or shipping.
Affiliate Marketing Platforms
Some of the highest-paying affiliate marketing platforms can provide you with a steady income and recurring commissions. They include:
Clickbank: With a wide range of products to promote, Clickbank is ideal for affiliate marketers with a large audience. The platform offers up to 15-50$ on each sale (depending on the product) and pays out every two weeks.
Digistore24: Specializing in digital products, Digistore24 offers some of the highest commissions in the industry, and affiliates can potentially earn a lot of money from this platform. Also, it has a very low minimum payout threshold to get your money quickly.
Warrior+: Warrior+ is a platform specifically geared towards internet marketers and entrepreneurs. It offers high commissions on digital products ranging from $9 to $497 and has a recurring income feature that can help you make even more money.
JvZoo: JvZoo is another great platform for those in the internet marketing space. From webinars to expired domains, there are a variety of products that you can promote.
Choose to Either Review or Advertise Affiliate Products
The options for earning money through affiliate marketing are endless. You can choose:
Review Blog Or YouTube Channel: It is important to be upfront with your audience and let them know if you are reviewing a product for an affiliate link. If you are transparent with your reviews, people will be more likely to trust your opinion and click on your links.
Advertise On Social Media Or Native Ads: Using platforms like Facebook, Twitter, or Instagram to advertise affiliate products can be a great way to reach a large audience. You can also use native advertising, a form of online advertising that matches the look and feel of the website or app where it appears. Both options can earn you a good income through affiliate marketing.
Learn How To Review An Affiliate Product Properly
For affiliate marketers, one of the key skills is how to review products properly. After all, as an affiliate, your job is to promote products and services to potential customers. And if you want people to take your recommendations seriously, you need to be able to provide detailed, unbiased reviews that highlight both the pros and cons of a product. Here are the steps to follow when writing a product review:
- Purchase A Trial/Test The Actual Product: You can’t write an accurate product review unless you’ve used it. So, the first step is to purchase a trial or test the actual product. This will give you first-hand experience with the product and allow you to form your own opinion.
- Who Created It: When writing a review, it’s important to include information about who created the product. This helps to add credibility to your review and shows that you’ve done your research.
- Why Did They Create It: It’s also helpful to include information about why the product was created. This can help you understand the product better and provide valuable context for your readers.
- What Purpose Does It Fulfill: When reviewing a product, it’s important to explain what need or problem it solves. This will help potential customers understand how the product can benefit them.
- Is There Ongoing Support: Another important factor to consider when writing a product review is whether or not ongoing support is available. This is especially important for digital products like software or online courses. If there is no support, it’s important to mention this in your review.
- Refund Policy: Finally, you should mention the refund policy in your review. It shows that you’re not afraid to stand behind the product and are confident in its quality. Also, if you don’t have first-hand experience with a product, it’s always best to err on the side of caution and stay away from writing a review altogether.
Learn How To Advertise An Affiliate Product Properly
For advertising an affiliate product, some essentials include:
Lead Magnet: It is important to have a lead magnet, an opt-in offer in exchange for the user’s email address. The lead magnet should be relevant to the affiliate product.
Landing Page: The landing page is where you will send traffic from your ads. Having a well-designed landing page relevant to the ad and the lead magnet is important. The landing page should also have a strong call-to-action (CTA).
Native Advertising: Native advertising is a form of online advertising that is less intrusive than other forms. It is often more effective because it is more relevant to the user.
Email Marketing: For email marketing, it is important to have a list of subscribers. The email should be relevant to the affiliate product and the landing page. It is also important to have a strong CTA in the email.
Track Sales: It is important to track sales to see which ads are performing well and which are not. You can use a tracking link to track sales. A tracking link is a special URL that includes information about the traffic source.
Final Thoughts
With the ever-growing gig economy, there are more opportunities to start a high-paying side hustle for extra income. Consider the best side hustle ideas if you want to make extra money in the new year.
Each of these hustles has the potential to earn you a significant income, depending on your skill set and experience, without any chance of losing money. With a little effort and perseverance, you could soon be raking in cash from your very own side hustle.
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