People are finding it harder to make ends meet. Having one job is reserved for an elite few while others find other industrious ways to pay the rent.
The struggle is real. According to Bankrate, more than one in three Americans has a side hustle. While we’ve heard stories about individuals putting their life savings into projects that didn’t succeed, it’s no reason to give up.
In the famous words of Aaliyah, “If at first you don’t succeed, dust yourself off and try again.”
Without sounding too philosophical or like a dodgy motivational speaker charging by the hour, the only one stopping you from turning your passion into cash is you.
So, let’s get into passion projects to turn into profit.
#1. Online Gaming
You’re probably asking, “How can I make money from online gaming?” We’ll explain how below.
Modern gamers are cashing in on their talents. The eSports sector has experienced a massive explosion in the past several years. Its global market revenue is forecast to grow to $1.87 billion by the end of the year.
eSports gamers are seen as demigods in the industry. UK streamer Carlton Hill once boasted about making more than $12,000 in three years. All he did was play three times a week while keeping his full-time job as a project manager.
Using his Twitch platform to livestream his gaming, Hill managed to amass fans from across the globe.
Some free-to-play (F2P) models offer real prizes instead of cash if you’re willing to resell the item.
For instance, a social casino lets players enter the game with free coins. They can play virtual social slot games and jackpot games with little to no friction, says iGaming Business.
A Redditor previously explained how he made about $40 daily by collecting bonuses from online social casino games.
He also suggested buying the first-purchase promo deals as a welcome bonus. Buy $45 in coins for $15. By playing a low-risk game like Blackjack or Plinko once, you can keep most of the $30 difference as profit.
Unlike traditional casino games, sweepstakes casino platforms like Rebet give users virtual currency in the form of free sweeps coins.
#2. Content Creator
Content creators are forging their place in the sun and making legitimate and big earnings.
One only needs to look at MrBeast and the D’Amelio sisters to see how far the creator economy has come. Forbes says top creators now boast about 2.7 billion followers on YouTube, TikTok, and Instagram.
They’re evolving from entertainers to entrepreneurs by harnessing their social influence.
How can you get in on the action? Firstly, identify your niche. What topics are you passionate about and knowledgeable about that make you stand out from other creators?
Choose a publishing platform and create content that speaks to your audience and resonates with them. The larger your audience, the more you can charge for sponsored content and affiliate marketing.
#3. LinkedIn Posts
Once a writer, always a writer. People with writing or journalistic experience gravitate to side hustles with these requirements.
It’s also why Jayde Powell chose to stick to social media when she started posting her hot takes on corporate America on LinkedIn. Past clients took notice and she scored a sponsored post writing about an event from Sprout Social for $1,000.
While her day job was running a social media strategy agency, Powell realized she could leverage her skills to write for corporate clients on her LinkedIn page in her free time.
She revealed to CNBC that last year she made $27,000 posting content on her personal accounts. The extra money helps pay her mortgage and utility bills.
Turning Dreams into Reality
The security of a paycheck cushions a very hard blow. That’s why many people take on extra money-making projects while maintaining their normal 9-5 jobs.
The transition from a full-time job to relying on a side hustle requires thought. Only consider taking the plunge if it’s continuously producing enough or more money than your job.
There are other variables to contemplate. Work out what you need to earn to survive. Being your own boss comes with many financial risks. You’ll be responsible for insurance and taxes.
Even if your first year as an entrepreneur pays dividends, don’t take it for granted it will always be that way. Have an emergency fund to cover at least three to six months of living expenses.
Sorry about the Negative Nancy speech, but sometimes you need to be a realist. With that being said, don’t let your passion go to waste.
After all, wasn’t it Les Brown who said: “Too many of us are not living our dreams because we are living our fears?”
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