7 Side Hustles Students Can Start In 2024
TLDRThe video script discusses the myth that a university degree guarantees a high-paying job, emphasizing the importance of side hustles for financial success. It presents seven viable side hustle ideas for students and anyone worldwide, including creating short-form content on social media, investing, building and managing Discord servers, online coaching, AI animation, reselling luxury items, and online writing. Each idea is supported by real-life examples and rated based on the time required to learn, initial investment, and potential monthly earnings.
Takeaways
- 🎓 The belief that a university degree guarantees a high-paying job is a myth and has become outdated in today's economy.
- 🚀 Young people should consider starting side hustles to potentially grow into larger opportunities rather than relying solely on a degree.
- 💰 The competition among social media platforms like Snapchat, YouTube, Instagram, and TikTok creates opportunities for content creators to earn significant income.
- 📈 Understanding human psychology and creating engaging content with a hook and payoff is key to making short form videos go viral and generate income.
- 🤑 Investing, particularly through dollar cost averaging and index funds, can be a powerful side hustle that generates passive income over time.
- 👥 Building and managing Discord servers can be a profitable side hustle, especially for those who are tech-savvy and understand the platform's potential.
- 🏋️ Online coaching, such as fitness coaching, can offer significant income and the flexibility to work from anywhere with an internet connection.
- 💡 AI animation is a growing field with high demand; mastering animation skills and leveraging AI tools can lead to a successful side hustle.
- 👜 Reselling luxury items online can generate substantial income, especially with the rise of the luxury resale market and platforms like Luxe Collective.
- ✍️ Online writing, including copywriting and content creation, can be a lucrative side hustle with minimal initial investment and the potential for high earnings.
Q & A
What is the main misconception about university education and job prospects mentioned in the transcript?
-The main misconception is that attending university guarantees a high-paying job. The transcript explains that while higher education can be beneficial, relying solely on a degree to ensure wealth is not the right approach in today's reality.
What is the importance of starting a side hustle according to the speaker?
-The speaker emphasizes the importance of starting a side hustle as it has the potential to grow into something much larger in the future, and it can provide an additional income stream that is not solely dependent on a traditional job.
How did the speaker become a millionaire?
-The speaker became a millionaire by having side hustles that eventually turned into multimillion-dollar businesses.
What is the first side hustle idea presented in the transcript, and who is the example of someone successful in this field?
-The first side hustle idea is creating faceless short-form content on social media platforms. Daniel Bitton is presented as an example of someone successful in this field, earning half a million dollars per month at the age of 16.
What is the competition among social media platforms like Snapchat, YouTube, Instagram, and TikTok?
-The competition among these platforms is focused on gaining more users' attention, as more eyes on their app lead to more revenue from advertisers.
What makes a short-form video successful according to the transcript?
-A successful short-form video has a great hook and builds towards some kind of payoff at the end, which increases watch time and the likelihood of going viral, thus earning more money.
What is the speaker's opinion on investing as a side hustle?
-The speaker considers investing as a valuable side hustle that can generate significant income, although it may not be traditionally classified as one. The speaker has managed to make around $17,000 per week through investing.
What is the strategy the speaker uses for investing?
-The speaker uses a dollar cost averaging strategy, consistently buying into the market regardless of whether it's high or low, allowing the average purchase price to be lower over time.
How much money does the speaker suggest is needed to start investing?
-The speaker suggests that you can start investing with as little as $1, but advises not to put all your money into stocks and to also invest back into your side hustle.
What is the potential monthly income one can make from investing according to the speaker's experience?
-The speaker mentions that they make around $17,000 per week from investing, suggesting that with consistency and strategy, significant monthly incomes can be achieved.
What is the third side hustle idea discussed in the transcript, and at what age did the person start this side hustle?
-The third side hustle idea is building and managing Discord servers. Chris Peters started this side hustle while he was still at school sitting his GCSE exams, at around 17 years old.
What is the key to success in Discord server management according to Chris Peters?
-The key to success in Discord server management, according to Chris Peters, is offering huge value upfront before asking for any kind of payment, doing good work, and making oneself indispensable.
What is the fourth side hustle idea presented, and what was the outcome for the person who pursued it?
-The fourth side hustle idea is online coaching. Jack Jefferson pursued online fitness coaching full-time after it started generating him $7,000 a month, leading to a monthly income of $14,000 more than his full-time job in London.
What does the speaker suggest about the future of online coaching?
-The speaker suggests that online coaching is a booming industry with countless opportunities to teach people online and get the same results as traditional coaching. The industry is growing, and people value online support and expertise, making it a gold mine for potential side hustles.
Outlines
🎓 Debunking the College-to-Career Myth
This paragraph discusses the outdated belief that a university degree guarantees a high-paying job. It emphasizes the importance of side hustles for students, as relying solely on a degree for financial success is not sufficient. The speaker shares their own experience with side hustles leading to multimillion-dollar businesses, setting the stage for a list of seven side hustles that students can start, applicable to anyone worldwide. The paragraph also highlights the need for diverse income streams and the potential of social media platforms in the current digital age.
💰 The Power of Side Hustles and Investments
This section delves into the world of side hustles and investments as alternative wealth-building strategies. It introduces the idea of creating short-form content on social media platforms like Snapchat, YouTube, Instagram, and TikTok, highlighting the success story of Daniel Bitton, who earns significant income without showing his face. The paragraph also discusses the competition among social media platforms for content creators and the lucrative opportunities this presents. Additionally, it touches on the concept of dollar cost averaging in investments and the speaker's personal success with this strategy, emphasizing the importance of starting early and the potential long-term gains.
💼 Navigating the World of Discord Servers
This paragraph focuses on Discord server management as a side hustle, highlighting the story of Chris Peters, who earns a substantial income at a young age by building and managing Discord servers. The speaker shares insights into the versatility and potential of Discord, a platform initially designed for gamers but now used by various communities and businesses. The paragraph emphasizes the importance of offering value upfront and the potential to earn significant income by providing indispensable services to clients. It also discusses the learning curve, startup costs, and the potential to earn a substantial monthly income.
🏋️♂️ Capitalizing on Online Coaching
This section introduces online coaching as a lucrative side hustle, with the story of Jack Jefferson, who quit his full-time job to focus on his online fitness coaching business. The paragraph discusses the value of online support and expertise, the adaptability of coaching services to various fields, and the potential to earn a significant income with minimal startup costs. It emphasizes the importance of personalization and client interaction, as well as the global reach provided by the internet. The speaker also provides ratings for the time required to learn, the amount of money needed, and the ease of earning a substantial monthly income.
🎨 Harnessing the Potential of AI Animation
This paragraph explores AI animation as a side hustle, featuring Mercy, who creates animations for clients and has seen significant financial success. The speaker discusses the stages of technology adoption and the current position of AI in the market. The paragraph highlights the creative uses of AI and the importance of mastering core animation skills to stand out in the industry. It also touches on the minimal financial requirements for starting this side hustle and the potential to earn a substantial monthly income by capitalizing on the growing demand for engaging content.
👜 Reselling Luxury Items for High Profits
This section presents the luxury resale market as a profitable side hustle, focusing on Ben Gallagher's success with his business, Luxe Collective. The paragraph discusses the growing interest in luxury resale, driven by millennial preferences and social media culture. It highlights the importance of expertise in identifying authentic items and the global market potential provided by the internet. The speaker provides insights into the learning curve, financial requirements, and the potential to earn a significant monthly income by focusing on high-end designer items and leveraging social media for marketing.
✍️ Writing as a Lucrative Side Hustle
The final paragraph discusses online writing as a side hustle, featuring Adam's success in earning a substantial income through writing. The speaker emphasizes the importance of writing in demand and publishing where readers are online. The paragraph highlights the value of unique services, the role of copywriters in sales, and the diverse needs for quality writing across various platforms. It also discusses the learning curve for writing, the minimal financial requirements, and the potential to earn a significant monthly income through high-quality writing that delivers value to clients.
Mindmap
Keywords
💡University Education
💡Side Hustles
💡Social Media Platforms
💡Content Creation
💡Investing
💡Discord Servers
💡Online Coaching
💡AI Animation
💡Luxury Resale
💡Online Writing
Highlights
The misconception that attending university guarantees high paying jobs is debunked, emphasizing the importance of side hustles for financial success.
The student experience and acquiring degrees can be valuable, but relying solely on them for wealth is not advisable.
Side hustles are crucial for students and anyone worldwide, as they have the potential to grow into significant opportunities.
Daniel Bitton's success with faceless short form content creation on Snapchat, earning half a million dollars monthly at 16.
Social media platforms are in a content creation war, offering substantial opportunities for creators.
Creating original content on social media, rather than reposting, is more lucrative and has a higher chance of going viral.
Investing is introduced as a side hustle that generates significant income, despite common misconceptions.
Dollar cost averaging strategy and index funds are recommended for long-term investment success.
Discord server management is a profitable side hustle, especially for younger individuals familiar with the platform.
Online coaching is highlighted as a booming industry with numerous opportunities for teaching various skills online.
AI animation is a growing field with high demand, offering creative ways to utilize technology for side hustles.
Reselling luxury items online is a profitable venture, tapping into the global market and leveraging social media for growth.
Online writing is praised for its potential to earn high income, especially for those skilled in copywriting and content creation.
The importance of understanding human psychology for creating engaging short form content is emphasized.
Learning the basics of investment is simple and can be done with minimal resources, such as through investment apps.
Building a Discord business requires offering value upfront and demonstrating indispensable skills to clients.
Personalization is key in online coaching, setting it apart from generic online courses and providing more value to clients.
Luxury resale market's growth is fueled by millennial interests and social media culture, making it a viable side hustle.
Mastering the art of writing can lead to high-paying opportunities and the ability to make significant income through content creation.
Transcripts
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