Passive Income for 2024

Alright, let’s have a bit of a chinwag about something that’s been buzzing around quite a bit lately – side hustles! Now, I’m not just talking about your weekend hobby turned money-maker; I’m chatting about the real deal, something that’s becoming a staple for many. As of early 2023, nearly half the folks in the US were dabbling in side hustles, and that’s not just folks scrimping by – some are raking in over £80,000 a year in their day jobs!

So, why is everyone hopping on this bandwagon? Well, it’s not just about the extra dosh. It’s the freedom, mate! The chance to be your own boss, to carve out your own niche – it’s irresistible. But let’s be real, a fair few are doing it to make ends meet, about 41% actually.

Now, when you think of side gigs, you might picture driving for Uber or delivering meals, but there’s a whole world of options out there. Let’s have a gander at four cracking passive income ideas that could be your next big thing in 2024.

1. Online Course Creation: The Digital Goldmine
Let’s start with online courses. Now, I’m not just talking about a few videos here and there. We’re talking about creating a comprehensive learning experience. You could be a whizz at coding, a master baker, or even a yoga guru – whatever floats your boat.

Imagine this: You’re sharing your know-how with eager beavers from all around the globe, and while you’re snoozing, someone in Australia is learning from your course. That’s the beauty of it – your work is done, but the course keeps earning you a pretty penny (or should I say pound)!

But how do you start? First, pick a subject you’re passionate about. Then, think about what makes your approach unique. Are you going to make it super interactive? Maybe you’ll add a dash of humour? Whatever it is, make it distinctly ‘you’.

Next, consider the platform. Udemy, Skillshare, Coursera – they all have their vibes. Do a bit of research to see where your course might fit best. And don’t forget about the marketing bit – use social media, blogs, or even podcasts to get the word out. You may want to use your very own platform, which you can use the likes of our CRM tool LeadGenFusion – which incorporates everything you would need to create the perfect course and marketing.

Creating an online course can be a bit of a graft at first, but once it’s up and running, it’s a splendid way to earn without having to put in the daily grind. I would definitely recommend that you create a plan of your course and all the features it needs to include.

2. eCommerce: Your Virtual Shopfront
E-commerce is a massive playground. You could sell bespoke jewellery, handcrafted furniture, or even quirky t-shirts. The key is finding a niche that you’re passionate about and that others will love too.

Setting up an online shop is simpler than you might think. Platforms like Magento, Shopify or WooCommerce make it easy-peasy to get started. But here’s the trick – you’ve got to stand out. Whether it’s through your product, your branding, or your customer service, find a way to make your shop memorable. You can always talk to us about this, as eCommerce is our speciality – well we won plenty of awards for our work.

And let’s not forget about Etsy. It’s not just for knitted hats and scented candles. Think outside the box – what unique products can you offer? Maybe it’s personalised art or eco-friendly gadgets. Whatever it is, make sure it reflects your personality and ethos.

Remember, running an eCommerce store is not just about listing products and waiting for sales. Engage with your customers, get their feedback, and keep evolving. You might start with a small range of products, but who knows where it could lead?

Check out our podcast “Does it have to be a Costly Journey in Building an eCommerce Website” – there you find some valuable snippets to jump-start your business.

We can help you develop a small eCommerce store to a major player eCommerce store. Remember: we’re here to help you on your journey to success.

3. Mobile App Development: Tapping into Success
Developing a mobile app can seem daunting, but it’s not just for the tech wizards. With the right idea and some dedication, anyone can make a splash in the app world.

Think about what’s missing in the market. Is there an app you wish existed? Maybe it’s a game, a productivity tool, or something to make everyday life easier. That could be your golden ticket.

Learning to code might be part of the journey, but there are plenty of resources out there to help you. And if coding’s not your cup of tea, team up with someone who can bring your vision to life.

Once your app is live, think about how you’ll monetize it. Will it be a paid app, or will you go for in-app purchases? Maybe you’ll use ads. Whatever you choose, make sure it aligns with your app’s purpose and your users’ expectations.

4. Content Creation: The Digital Storyteller
In the realm of digital marketing, content is king. And there’s so much you can do! Writing blogs, creating videos, designing infographics – the list goes on.
But here’s the thing: it’s not just about creating content. It’s about creating content that resonates with people. What’s your angle? Maybe you’re all about sustainability, or you’ve got a knack for making complex topics easy to understand. Use that to your advantage.

Partner with brands that align with your values or go freelance and offer your services to a range of clients. You could even start your own blog, YouTube or TikTok channel. The key is consistency and quality. Keep putting out great content, and you’ll build an audience that trusts and values your work.

You may wish to listen to our podcast: Unlock the Power of Content Creation

So, there you have it – a more in-depth natter about side hustles in 2024. Each of these ideas has the potential to not just pad your wallet, but also bring a bit of zest to your life. Remember, the best side hustle is one that you’re passionate about and that brings value to others. It’s all about finding that sweet spot where your interests and the market’s needs intersect.

What do you think? Any of these tickle your fancy? If so, tell us in the comments below.


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