2020 is just around the corner. What are YOU going to do with it?
Maybe you’re feeling stagnant. You’ve been working for the same company for years, clocking in and out absent-mindedly and savoring the occasional government holiday. You know exactly how much you’ll make on every paycheck and there’s no opportunity for overtime. Even if there is a chance to work a few more hours, it feels like you’re stealing precious time from your real life.
You’ve been living to work for too long. It’s time to switch things up. 2020 is your chance to start working to live.
Side hustles are nothing new. Since the birth of the modern workplace, employees have been looking for ways to make a little extra on the side. But in just the last decade, the ways that people all over the world work and make a living have seen drastic revolutions.
The spirit of entrepreneurialism has influenced not only individuals and small businesses, but also global corporations that have realized the value of creativity and self-starter mentalities. Now, more than ever, is the perfect chance to embrace your inner entrepreneur with a 2020 side hustle.
Your pockets could use some extra money, right?!
Okay, sure, you might be thinking. Easier said than done.
And you’re right – but isn’t everything? If you don’t know where to start, you’re not alone. But that doesn’t mean you can’t get your side gig up and running in no time. You just need to figure out where to start.
There are countless ways to make some extra money on the side of your day-to-day job. That being said, some industries offer more potential than others. Let’s take a look at some of the best opportunities for 2020 Side Hustles.
Growing Industries
We’re living in a world that is changing at an ever-increasing rate. This means that you, as an entrepreneur, have to adapt along with those changes or else face the consequences of obsoleteness.
On the flip side of that coin, this constant state of innovation and growth gives you ample opportunity to capitalize in the form of a side hustle. Here are a few industries experiencing the highest rate of growth from 2018 to 2019. Some of them might surprise you!
- Solar power (38.8% growth)
- Social networking sites (38.2%)
- Wind turbine installation (53.5%)
- Telehealth services (37.0%)
- Peer-to-peer lending (34.8%)
- Medical/recreational marijuana growing and selling (27.9% and 27.6%)
- Massage franchises (27.6%)
Now, what are you supposed to do with this information? Let’s look at the last example – massage franchises are on the rise, but that doesn’t mean you need to get your license in massage therapy or open up a spa to cash in on this growing industry. Instead, think about what you can offer to the existing massage franchises that are expanding and could use your help.
If you’re an accountant in your day job, you can bet that there are some massage companies that are in search of bookkeeping services. They might also need help with online scheduling software or managing a social media account.
Any of these growing industries give YOU an opportunity to exploit that growth and turn it into extra cash. Of course, you don’t have to pick from those we’ve listed above; if there’s a particular field which interests you or that you know is also experiencing rapid growth, then turn this into your 2020 side hustle. Using your current skills and a little innovation, you can create your own niche within a hopeful, growing industry.
Gig Economy
Now, more than ever, everyday people have the chance to make supplemental or even primary income without any special skills or training. If you have a car, a cell phone, and some free time, you’ve already got the minimum qualifications for a number of side jobs in our gig economy. Here are some of the top ways you can start making extra cash in no time:
1. Driving & Delivery
One of the biggest opportunities for side hustles require you to go no further than your own driver’s seat. Third-party driving apps like Lyft and Uber have exploded over the last few years and revolutionized the way we get around. Many of these apps allow you to become a driver within just a few days once you’ve verified identity and insurance details.
These days you can get just about anything delivered to your doorstep – at your home, workplace, or event – with just a cell phone app and a credit card. Just about anything you can imagine from groceries to five-star meals are now available via third-party delivery services, and the rapid rise of apps like PostMates and DoorDash creates another great opportunity for secondary income.
The amount you earn as a driver is totally up to you. You don’t have to follow anyone’s schedule except your own, which means you can simply log in and start making money from your own vehicle.
Many of these gigs are at least partly based on tips from your customers, so taking extra steps to enhance their experience can further increase your income. Some drivers, for example, might offer light refreshments to their riders or let them plug in their own music for the drive.
2. Freelancing
Your day job probably entails some level of special knowledge or expertise, and you don’t have to leave these at work. Maybe you have a unique skill that you don’t get to utilize in your day-to-day and you’re looking for ways to change this.
Freelancers have more resources now than ever before. Today there are many large networking sites that connect all varieties of skilled freelancers to customers in need of their services. Fiverr, SpareHire, Freelancer, and Upwork are a few of the best examples.
You may find one-time gigs or long-term clients through freelancing, depending on your specialties and available time. But one thing is sure – if you have a skill to offer, someone out there is looking for your help and there are constantly more ways to connect with them.
3. Sharing Your Skills
What good is knowledge if it isn’t shared? Another great way to make some additional income in 2020 is to teach others a little (or a lot!) about what you already know. You might consider becoming an after-school math tutor, or you could use your musical skills you could mentor an adult who wants to learn to play guitar for their kids.
The interconnectivity of today allows people on opposite sides of the world to learn from each other, and you have several ways to cash in on this by sharing your skills online. Sites like Skillshare can help you create online courses showcasing any topic you could possibly imagine. There are also many internet-based tutoring sites that connect teachers and students everywhere.
4. Focus Groups & Surveys
Behind many successful businesses, ideas are focus groups that analyzed and picked apart each variation of the final product. You can make extra income in 2020 by becoming a participant in sample trials, focus groups, and surveys for companies looking to improve their offer.
Paid participation can range widely depending on what you’re willing to put in. Some companies will pay a few dollars on the spot for some quick online surveys or a short, in-person trial and review session.
On the other end of the spectrum, some (usually pharmaceutical) companies will pay hundreds or even thousands of dollars for you to participate in their long-term studies. There are usually strict guidelines about participants’ medical history and demographics, so you can throw your hat in the ring today on one of many websites that coordinate paid clinical trials. You’ll get notified when a new study matches your personal criteria.
5. Catch-All Apps
One more way to get involved in the gig economy with a 2020 side hustle is to join a community like TaskRabbit or ShiftGig which connects available workers with paying customers.
These apps aren’t specific to any particular work type or industry, so they’re a perfect place to offer (or request) anything from light housework and grocery shopping to more skilled handyman services.
Sharing Economy
Another fairly recent development is the concept of a “sharing economy.” Much like the gig economy, a sharing economy maximizes resource utilization and creates opportunities for extra income. Many of these “jobs” aren’t even real jobs – they just require you to have some asset that is shareable among others when not under your use.
Here are a few of the biggest sharing economy gigs out there which you can get started as early as today!
1. Airbnb
Getting paid while you’re on vacation?! Yes, please! Airbnb is the world’s largest marketplace for short-term lodging at any budget. From shared rooms on a dime to the most luxurious mansion getaway, your very own home can make you money while you’re away.
It might take some work to get your home “reservation ready,” but with good hosting skills and a fair price you can quickly become a 2020 side hustler – you might even gain the distinction of Airbnb Super Host!
2. DogVacay
Think Airbnb for pups. DogVacay is a quickly growing community of dog owners and dog lovers alike. This alternative to traditional boarding is becoming more popular each year as pet owners treat their furry friends more like members of the family.
Sharing your home by becoming a DogVacay sitter will help you make more money in 2020, and if you’re already a canine fan, it might not even feel like work. Who knew you could get paid to play with dogs all day?
3. Spinlister
Spinlister is a site that promotes the sharing of sports gear like bicycles, snowboards, skis, and surfboards. This creates a win-win for both parties because the people renting the equipment doesn’t have to empty their wallets to enjoy high-quality sporting, and it allows the owners to make some extra cash when their equipment isn’t being personally used.
4. Getaround
On average, people spend less than 10% of their time actually driving their cars. For the most part, we leave our cars sitting around for hours on end and when we are using them we’re the only person inside. Our single-commuter society contributes negatively to the environment, but there’s a way you can help this and make more money by letting others rent your vehicle when you’re not using it.
This peer-to-peer car-sharing service offers less expensive options than traditional big-box car rentals and allows you to increase your income even during your regular day job. Getaround and other car-share apps give “working double time” a whole new meaning!
5. Lending Club
Banks and huge lending corporations no longer have a monopoly on personal and business loans. Now there are many direct lending sites that allow individuals to make their money work for them.
If you have a chunk of cash sitting stagnant in an account, maybe an inheritance or other monetary asset, you can turn this into your side hustle by lending some of it out and gaining interest on that loan. Lending Club is one of the largest peer-to-peer loan sites that bring the world of personal and business loans back down to a local level.
Even More Side Hustles for 2020
1. Monetizing Your Social Media
Do you have a personality that lights up a room? Are you full of inspiration for others but don’t know how to share it? You might be a perfect candidate to become an online influencer. This doesn’t mean you have to be a Youtube comedian or Instagram model. You can monetize social media through nearly endless methods, from teaching a specific skill to creating vlog interviews with interesting people.
By posting frequently and, of course, maintaining high-quality content, you can steadily grow your viewer base. Once you have enough followers (and depending on the platform), you can start earning money from your very own social media accounts. Who knows – you might become the next viral trend!
2. Dropshipping
More and more products are now delivered via dropshipping, which is the direct-delivery alternative to retailers keeping large stocks of inventory on hand. Instead, companies use dropshipping services to directly ship products from manufacturers to customers as orders are received.
You can become a dropshipping partner and start making extra money on your own website or on established platforms like eBay, Etsy, or Amazon. This side gig can be anything from small-scale listings to large, wholesale operations. Depending on how much you put in, dropshipping is a hot business that has the potential to become your main hustle!
3. Event Planning
In today’s world of Pinterest and Instagram dominating the internet, events for all occasions are becoming more and more of an opportunity to show off and go all out. With an eye for new trends and a knack for coordination, you can quickly make event planning a successful side gig in the new year.
There are always going to be weddings and baby showers to plan, but don’t just think about the traditional events – these days people will celebrate just about anything and are willing to pay for their party to be better than anyone else’s.
Get creative with your event planning and take advantage of current pop culture to find your own niche. Organize a fun, game-filled Election Day party or turn a normal bridal shower into an exciting scavenger hunt.
You could also go a more professional direction with corporate event planning. Companies of all sizes often host meetings for partners and clients, and there is increasing competition for these meetings to be impressive in and of themselves. Why not turn this into your new side gig?
4. Decluttering
An organized home can bring peace of mind AND make you some extra cash! 2020 is the perfect time for a Big Cleanout™ in your own home and others. Get rid of anything you haven’t used in years, and sell your gently used items on marketplaces like LetGo, ThreadUp, or Facebook Marketplace.
Decluttering has become somewhat of a trend in recent years, with more and more people minimizing and keeping only what sparks joy. But for those who just don’t have the time or energy to do it themselves, you can turn this into your 2020 side hustle by doing the work for them.
You could offer this help during the evenings or weekends for an hourly rate, plus agree to a percentage of sales for items you list on your customer’s behalf.
Now that we’ve explored some of the best ways to make additional income in the new year, take some time to consider your skills, interests, and time commitment. As long as you’re willing to put in the work, you can make 2020 your year.
Get out there and start hustling!