Ever asked how an e-course can be the ultimate side-hustle? So is an e-course the ultimate side-hustle?
What is a Side-hustle?
Ever asked how an e-course can be the ultimate side-hustle? Side-hustles are additional sources of income. It goes hand in hand with the day. A side-hustle is a flexible way of making more money than the current cash inflow. A side-hustle is any activity that’s brought about by passion, interests, or even hobbies that bring extra income to the table. At times, side-hustles happen for the sole purpose of gaining extra income. Nonetheless, both reasons for entering a side-hustle is acceptable. At the end of the day, the main goal is to earn money. Money means resources and resources constitute opportunities for financial growth and development.
Economically speaking, financial condition defines the strengths, weaknesses, opportunities, and strengths. An individual or an entity that has more than one income generating activity is way better off compared to those who only have one. The setup provides security. This gives security and contingency for the business owner or the side-hustler.
There’s one big question that shows the philosophy of side-hustles. Why gain from only one job when you can have two? This is the kind of thinking that side-hustlers live with.
What are examples of good Side-hustles?
There are a lot of good ideas when it comes to side-hustles. It can be an activity to pursue passion, interests or hobbies. Examples are as follow:
- Teaching how to play instruments
- Coaching a sport
- Selling baked goods
- Taking professional pictures
On the other hand, it can merely a good way to gain even more through the following:
- Cleaning of swimming pools
- Repairing Computers and laptops
- Lending vehicles
These are just a few of the countless side-hustles that exist. Each additional profession varies in rate and amount. It is true that some are better paid than others. Furthermore, choosing one that fits personal schedule and interest while being well compensated is the challenge. There are certain criteria that constitute an ultimate side-hustle.
What are the criteria of an ultimate side-hustle?
Engagement and Time-allotment
Low engagement in a side-hustle is good. It must be something which can be left out and be back with at any desired point in time. This allows the side-hustler to focus on the primary job. While doing so, the people who rely on your side-hustle are not compromised. Also, it must be controllable with regard to time management. Ideally, the primary job hours must not be exceeded. This kind of setup that’s ideal should not negatively affect the focus of the individual to his day job.
The compensation must be significant. It is a question of fact and a personal choice in relation to the primary job. If the primary job compensates say for example a hundred dollars per day and the side-hustle will only yield a dollar in the same amount of time, then it is not significant. Personal choices may also be considered. If an activity in a side-hustle is relevant and highly interesting, it may constitute a rather good side-hustle.
The side-hustle must not be very difficult. High complexity will destroy the focus of person in his day job. Difficult engagements may also bring more stress than an extra income. However, it must not be so easy because this can mark lower compensation. The degree must be just right to level out the effort and the benefits.
Some of the side-hustles entail much more costs than the others. Say for example in teaching instruments. Acquisition and maintenance of instruments in itself are costly. Transportation to the student’s premise embeds expenses for gasoline and another incidental cash outflow. The cost and the benefit relationship must be considered. An individual might enter in a side-hustle only to spend more than to earn more.
Just like in any aspect of life, personal growth must be considered as relevant. New and valuable experiences must be present. If the side-hustle brings humiliation for example then no positive growth is likely to happen.
Professional Identity Protection
If the person choosing a side-hustle is professional then the degree of the side-hustle must be off on the nearest level possible. It is not good to see a CEO by day and doing pool cleaning services as a side-hustle. Although, some may have other considerations for the far difference of the jobs. It is to be respected. But for the other half, this can be a good consideration.
What is a real life application of a legitimately ultimate side-hustle?
eCcourses. eCourses are basically online schools where an administrator uploads resources. In addition, resources are the following but not limited to audio-visual presentations, reviewers, documents and other learning materials. A fee is asked before access. The fee constitutes income.
How can an eCourse satisfy the aforementioned criteria?
Go back to the prior criteria and you will be able to realize that it all boils down to this kind of part-time job.
Engagement And Time-Allotment
- Very little to no engagement at all
- Give time in preparing the online resources then let it make money themselves
- The administrator is in full control of his time
- eCourses can be highly rewarding with quality online resources
- Earnings are limitless as the number of subscribers increase
- You have to push yourself to make your own resources and content
- Subscribers are left alone without much supervision
- Relatively very low costs
- Fixed cost regardless of number of subcribers
- Work at home
- Sharing learnings to others is fulfilling
- Being able to provide the need for knowledge of the other people is good thing to experience
Professional Identity Protection
- Professional ideas must be the basis of resources for the eCourse
- Videos, materials, and another resources may be edited before upload.
- There is free will in choosing the content of the eCourse
- The administrator is in full control
What are the PROOFS that can support eCourse as an ULTIMATE Side-hustle?
Meet Melyssa Griffin. She teaches online courses and workshops for entrepreneurs and bloggers who want to grow an audience, start an online business, and change the world. She also hosts a podcast called Pursuit With Purpose. This podcast helps people create meaningful lives and businesses.
With her eCourse named “Pinfinite Growth”, she was able to earn around $80,000 in just 4 months. That is just one of her many eCourses. In her second eCourse, she claims to have earned $100,000 in just 14 days!
an eCourse by Udemy.com
The course currently has 173,222 students enrolled. The regular price is $195. First time users may avail discounts outrightly. The rate goes down as time passes by. Assuming that all of the students availed the eCourse at a discount, the earnings of the author is $ 2,598,330. Or if the students availed will avail at the regular price, the total earnings just for this eCourse alone will be a stunning $ 33,778,290.
the same eCourse by Udemy.com
After 12 hours, the same eCourse was visited again. It is apparent the students enrolled increase from 173,222 to 173,723. 501 new students purchased the eCourse. Again, if these new students availed it with a discount the earnings increase iby $7,515. If purchased at regular price, $97,695 is earned in 12 hours!
If this is not an ultimate side-hustle, nothing in the world is.