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The My Wife Quit Her Job Podcast With Steve Chou

498: Top 5 Most Profitable Side Hustles You Can Start Today (With No Money) – Family First Friday

The My Wife Quit Her Job Podcast With Steve Chou

[email protected]

Marketing, Business, Entrepreneurship

4.81.4K Ratings

🗓️ 6 October 2023

⏱️ 12 minutes

🧾️ Download transcript

Summary

In this Family First episode, I’ve compiled a list of the most profitable side hustles that you can start this year. The margins on some of these business models are greater than 90% and you can start most of these directly from your home. What You’ll Learn Profitable Business #1: Blog Profitable Business #2: Sell An Online Course Profitable Business #3: E-commerce Store Profitable Business #4: Service Arbitrage Business Profitable Business #5: Affiliate Marketing

The post 498: Top 5 Most Profitable Side Hustles You Can Start Today (With No Money) – Family First Friday appeared first on MyWifeQuitHerJob.com.

Transcript

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0:00.0

Every year, thousands of new businesses are launched in the United States,

0:03.7

but unfortunately, not all businesses are able to make a profit and many don't survive.

0:08.8

Now, if you look at small businesses as a whole, a 10% net profit margin is considered

0:13.5

average for a small business. Anything below 5% isn't going to cut it, while anything above 15%

0:19.3

is excellent. Now, if these percentages sound really low to you, it's because these numbers are

0:24.5

calculated across all business models and types, including brick-and-mortar stores and restaurants.

0:30.4

But don't be discouraged, the online space is way more profitable. So, in this episode,

0:35.9

I've compiled a list of the most profitable businesses that you can start this year,

0:40.2

and trust me, the margins on some of these business models are greater than 90%.

0:45.4

What's up everyone? You are listening to the MyWifeCutor job podcast, where I teach you how to make

0:49.2

money online by exploring different tools, strategies, and understand how to leverage human

0:53.8

psychology to grow your sales. This is a special segment of the show, called Family First Fridays,

0:59.4

where I go solo to give you my thoughts on how to make money without sacrificing your lifestyle.

1:04.7

By the way, if you haven't picked up my Wall Street Journal bestselling book,

1:07.8

The Family First Entrepreneur, yet, head on over to MyWifeCutorjob.com slash book,

1:12.8

fill out the form and get over $690 in free bonuses, and right now, the book is actually 38% off on

1:19.9

Amazon. Now, the first most profitable business that you can start is a blog. Now, you might be

1:25.3

thinking to yourself, does anyone read blogs anymore? Didn't blogging die like 10 years ago?

1:31.3

Well, this is 100% false because I run a 7-figure blog myself, and here's what you need to

1:36.8

realize about blogging. Everyone in business needs a website in order to gather leads and

1:42.1

to close sales. Without a website, you can't build a customer email list. You can't build a list

1:48.0

of subscribers, and the number one way to get traffic to any website is to start a blog that

...

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