How to Start a Side Hustle and Make Extra Money

Wondering how to make extra money? You’re in the right place! Starting a side hustle has been one of the best decisions of my life — right up there with getting married and splurging on extra guac (with me?).

Side hustles have also been how most of my businesses got their start, but more that in a minute!

Before we begin I want you know that I've personally done each and every one of these side hustles. There's pros and cons to each which I'll explain but there's one thing they ALL have in common... THEY WILL MAKE YOU MONEY!

Later in this article I'll even tell you how I started a side hustle that turned $1,000 into a multi-million dollars business!

So, let's dive into the 5 best side hustle ideas to make extra money right now and in the long term.

1. Flipping Items (Buy Low, Sell High)

Flipping has become increasingly popular, and for good reason. It's low-risk, requires minimal upfront investment, and can be incredibly profitable if done right.

I've made thousands of dollars each month on the side by simply buying and selling items on places like Facebook Marketplace.

There's 2 ways you can approach buying flipping items online.

1. Buy used items for cheap and sell them for more.
2. Buy new items that people want, at wholesale, and sell them for more.

Let me explain both.

Flipping Used Items

When I first started flipping as a teenager I start with bicycles. I was super interested in bikes and enjoyed learning about them so I naturally gravitated towards those. Later on I started flipping furniture, computers, camera, and a bunch more stuff.

You can literally pick anything! During university my brother flipped boats and made tons of money doing this as a full-time university student.

Here's how you start:

1. Pick something you want to flip: This can literally be anything but be extremely specific. When I was flipping bikes, I only flipped mountain bikes (no road bikes or cruisers). When I flipped cameras I only looked at certain types of cameras. When my brother was flipping boats, again, he only flipped a certain type of boat. Why? Because when you're just starting out you need to get really knowledgeable about the products you're looking for and know what they're worth.
2. Start researching: Look on places like Facebook Marketplace and start understanding what those items are selling for (market rate).
3. Make offers: Once you start realizing what the current market rate is for these items, start looking for items that are priced lower than the market rate and make an offer. You can even message people who are selling the items at market rate offering them lower amounts.
4. Buy: Once you buy the item, one of the best things to do it give it a good clean up and take great photos. Photos are extremely important in ensuring you get top dollar.
5. Sell: From there the last step is to simply post the item for more than you paid for it. That's it. 

I've followed this process for years and have made tens of thousands of dollars doing this. It's hands down one of the easiest ways to make extra money.

Flipping New Items

The great thing about flipping new items is that you can do it at scale since you can continue buying them as fast as you can sell them. Here's how you can get started with selling new items:

1. Research: Go on Alibaba.com and look for products you think people would be interested in buying. This could be things like headphones or even massage guns.
2. Post Them On Facebook Marketplace: Take the photos from Alibaba and post these products on Facebook Marketplace. Now, we’re not actually selling the products just yet! We're just trying to understand if people would buy the product before we purchase it.
3. Understand the Demand: We’re trying to understand the demand for these products. If you get a lot of views on the listing it means people are interested but your price is probably too high. So try lowering the price a little bit if there’s still enough profit. When you start getting a lot of messages from people it means you’ve found a good product and people are interested.
4. Purchase the Products: Once you’ve found some products that people are interested in, go back on Alibaba and place a small order and have the products shipped to your house.
5. Sell: Now post make a bunch of listing for the products and watch the money roll in.

Selling new items was one of the most passive ways I've money in the past. I would find items that people were interested in and buy them in bulk. I had boxes of products in my pantry. Once they were getting low, I'd just place another order and the money would keep rolling in. 

You don't have to use Alibaba, you can also look for clearance items at stores like Target, discounted name-brand items at Ross, or collectibles at garage sales. You have a lot of options!

The main difference between selling used items vs new items is that with used items you can flip more expensive products which enable you to make a lot more money (hundreds or thousands of dollars). Whereas with new items, it tends to work best with smaller items where you might only make between $50 - $100.

As you gain confidence, graduate to bigger ticket items for larger profits.

2. Freelancing (Get Your First Client)

Freelancing allows you to monetize skills you already have. The best part? You can become a freelancer literally overnight.

To start:

• Decide what services you'll offer. Think about what you're already good at - writing, graphic design, web development, etc.
• If you're unsure, ask friends and family. They often see skills in us that we overlook.
• Find your first client. Use platforms like Upwork, Fiverr, or even Facebook Marketplace to land your first gig.

3. Consulting & Coaching

If you're an expert in something, chances are someone out there needs your knowledge.

To start:

• Identify your niche. It should be at the intersection of what you're passionate about and what people are willing to pay for.
• You'd be surprised - people consult on things like planning the best Disneyland trip or choosing work outfits.
• Find your first client through networking, cold emailing, or social media.

4. Selling Simple Services

Sometimes, the simplest ideas are the most profitable. My friend started a window-washing business and made over $35,000 in his first summer - with zero help from social media!

To start:

• Choose a service that requires minimal training. Ideas include:
  • Pet walking/sitting
  • Window washing
  • Snow removal
  • Lawn care
• Don't be afraid to sell. If you're turned off by sales, try using scripts. Remember, without sales, your side hustle is just a hobby.

One of my first businesses was a car wash. I didn't start it as a side hustle but you certainly can! The great thing with services is that you can get up and running within DAYS and the cost required to get started is extremely minimal. This is why starting a service-based side hustle is a great option.

5. Selling Physical Products

When it comes to physical products you can sell DIY/hand-made products or buy existing products from places like Alibaba. The DIY movement is booming, making it easier than ever to sell handmade or curated products.

To start:

• If you're crafty, consider selling on Etsy or at local markets and fairs.
• If making isn't your thing, try selling used items on eBay or Facebook Marketplace
• If you want to launch your own store you can create an online store using Shopify.
• Remember: spend as much time selling as you do creating.

Years ago I started an online store as a side-hustle where I sold headphones. I started the store with only $1,000 and used the money to buy some inventory from Alibaba. In less than 2 years that little side hustle had turned into a business that had over 50 employees, doing 8-figures in annual revenue. 

I mention this because you never know where your side-hustle might take you! This leads me to the #1 secret when it comes to starting a side hustle.

The #1 "Secret" to Finding the Best Side Hustle

Want to know the real secret to side hustle success?

It's simple: just start.

I've seen countless people dream up amazing side hustle ideas, but VERY FEW actually take action. The difference between a dream and a successful side hustle is action!

So, get up off the couch for an hour or two each evening and put in some real work. Just like compound interest in your financial investments, slow and persistent work adds up to quite a lot over the long haul.

Remember, these aren't "get rich quick" schemes. They're ways to make extra income and get you closer to your own Rich and Meaningful Life. It might take time, but with persistence and smart strategy, you can build a side hustle that not only puts extra cash in your pocket but might even grow into something bigger.

Ready to take the first step towards your successful side hustle? Check out the Design Your Rich and Meaningful Life mini-course, where we dive deeper into aligning your side hustle with your long-term financial goals and life vision.