The world is going through a tough time. The economy is shrinking, jobs are scarce, and interest rates are high. Many people are struggling to make ends meet, let alone save for the future. If you are one of them, you might be wondering how to increase your income during a recession.
The good news is that there are many side hustles you can do to earn extra money, even in a downturn. You don’t need a lot of capital, experience, or education to start a side hustle. All you need is a skill, a passion, and a willingness to learn and work hard.
In this article, I will share six side hustles that can help you boost your income during a recession. These side hustles are easy to learn and fun to do. If you do them the right way, they can supplement your income, pay off your debt, or save for your dream.
If you have a knack for writing, using your writing skills to create content for businesses is the right side hustle for you. B2B content writing is a lucrative niche that pays well and offers plenty of opportunities. You can write blog posts, white papers, case studies, ebooks, newsletters, etc.
To get started, you need to build a portfolio of your work. One of the most effective ways to do this is to use the “delivery package” method. This involves creating a sample piece of content for a potential client and sending it to them along with a proposal. This way, you showcase your value and increase your chances of getting hired.
Another way of building your writing portfolio is to focus on topics that you are passionate about. This will make your writing more enjoyable and authentic. Use your personal experience, stories, and insights to add value to your content.
Another side hustle that can help you during an economic downturn is transformational coaching. A transformational coach is someone who helps people transform their mindset, habits, and behaviours to achieve their desired outcomes. You can charge a small fee to coach people on anything that you are knowledgeable or experienced in, such as productivity, fitness, relationships, spirituality, etc.
The best part is that you don’t need any advanced qualifications or certifications to become a transformational coach. All you need is a genuine desire to help others, a willingness to learn and improve your skills, and a way to communicate and deliver your messages.
You can conduct your coaching sessions from anywhere in the world through platforms like Zoom, Skype, or Google Meet and charge anywhere from $50 to $100 or more per hour, depending on your niche and experience. You can also create your own website, blog, podcast, or YouTube channel to promote your services and build your audience.
Apart from conducting live coaching sessions, you can also monetize your coaching services by packaging your skills into online courses. Use platforms like Teachable, Udemy, or Kajabi to sell your courses online.
One of the most overlooked side hustles that can save you during a recession is trash can cleaning. This is a service that many homeowners and businesses need, but few offer. It is a dirty job, but someone has to do it.
Trash cans are breeding grounds for bacteria, germs, and pests. They can also emit foul odours and attract unwanted attention. That’s why many people are willing to pay someone to clean their trash cans regularly.
The demand for trash can cleaning is high, and the competition is low. You can charge anywhere from $10 to $30 per trash can, depending on the size and condition. You can also offer discounts for multiple cans or recurring services. The startup cost may include a truck, a pressure washer, a water tank, protective gear, and some cleaning supplies.
Video is the king of content. More and more people are consuming video content online, on platforms like YouTube, Instagram, and TikTok. Businesses are also using videos to market their products, services, and brands.
If you have a creative eye and a technical skill, you can make money by creating and editing videos for individuals and businesses. Creating new videos and enhancing raw footage into a coherent and engaging story. You can use software like Adobe Premiere, Final Cut Pro, or DaVinci Resolve to edit videos.
The earning potential for video editors is high. You can charge anywhere from $1000 to $1500 per video, depending on the complexity and length of the project. You can also work on a per-project or retainer basis, depending on your preference and availability.
If you have a persuasive personality and a knack for communication, you can make money by selling high-ticket products or services. High-ticket sales are sales that involve large sums of money, usually over $1,000. These can be anything from software, coaching, and consulting, to real estate, cars, or jewelry.
The benefit of high-ticket sales is that you can earn a lot of money with fewer sales. You can also work on a commission-based structure, so you get a percentage of the sale price. This can range from 10% to 50%, depending on the product or service and the company.
One of the most famous examples of high-ticket sales is from the movie “Wolf of Wall Street.” In the movie, Leonardo DiCaprio plays Jordan Belfort, a stockbroker who sells penny stocks to unsuspecting investors. He uses his charisma, confidence, and persuasion skills to convince people to buy worthless stocks.
Of course, I don’t recommend that you sell anything illegal or unethical. But you can use the same principles of high-ticket sales to sell legitimate and valuable products or services. You can also use phone calls, email, or video to reach out to potential customers and close the deal.
The income potential for high-ticket sales is unlimited. You can scale your income as you improve your skills and increase your sales. You can also leverage referrals, testimonials, and repeat customers to grow your business.
If you are new to sales and want to learn the ropes, you can start by becoming a remote appointment setter. This is someone who books appointments for sales teams through phone calls, emails, or social media to contact leads and schedule meetings.
The role of a remote appointment setter is to qualify leads and generate interest. You don’t have to sell anything or handle objections. You just have to get the lead to agree to talk to a salesperson using scripts, templates, or other strategies provided by the company or the sales team.
The benefit of remote appointment setting is that you can work from home, or anywhere with an internet connection. You can also work on a commission-based structure and get paid for every appointment you book. This can range from $10 to $50 per appointment, depending on the product or service and the company.
Remote appointment setting is a great way to learn the basics of sales, such as prospecting, cold calling, and rapport building. You can also use remote appointment setting as a stepping stone to becoming a full-fledged salesperson, or a high-ticket salesperson.
The good news is that there are many side hustles you can do to earn extra money, even in a downturn. You don’t need a lot of capital, experience, or education to start a side hustle. All you need is a skill, a passion, and a willingness to learn and work hard.
In this article, I will share six side hustles that can help you boost your income during a recession. These side hustles are easy to learn and fun to do. If you do them the right way, they can supplement your income, pay off your debt, or save for your dream.
1. B2B Content Writing
Attention is the most valuable currency in the digital age. Businesses need content to attract, engage, and convert their target audience. Content is the fuel that drives marketing, sales, and customer loyalty.If you have a knack for writing, using your writing skills to create content for businesses is the right side hustle for you. B2B content writing is a lucrative niche that pays well and offers plenty of opportunities. You can write blog posts, white papers, case studies, ebooks, newsletters, etc.
To get started, you need to build a portfolio of your work. One of the most effective ways to do this is to use the “delivery package” method. This involves creating a sample piece of content for a potential client and sending it to them along with a proposal. This way, you showcase your value and increase your chances of getting hired.
Another way of building your writing portfolio is to focus on topics that you are passionate about. This will make your writing more enjoyable and authentic. Use your personal experience, stories, and insights to add value to your content.
2. Transformational Coaching
Another side hustle that can help you during an economic downturn is transformational coaching. A transformational coach is someone who helps people transform their mindset, habits, and behaviours to achieve their desired outcomes. You can charge a small fee to coach people on anything that you are knowledgeable or experienced in, such as productivity, fitness, relationships, spirituality, etc.
The best part is that you don’t need any advanced qualifications or certifications to become a transformational coach. All you need is a genuine desire to help others, a willingness to learn and improve your skills, and a way to communicate and deliver your messages.
You can conduct your coaching sessions from anywhere in the world through platforms like Zoom, Skype, or Google Meet and charge anywhere from $50 to $100 or more per hour, depending on your niche and experience. You can also create your own website, blog, podcast, or YouTube channel to promote your services and build your audience.
Apart from conducting live coaching sessions, you can also monetize your coaching services by packaging your skills into online courses. Use platforms like Teachable, Udemy, or Kajabi to sell your courses online.
3. Trash Can Cleaning
One of the most overlooked side hustles that can save you during a recession is trash can cleaning. This is a service that many homeowners and businesses need, but few offer. It is a dirty job, but someone has to do it.
Trash cans are breeding grounds for bacteria, germs, and pests. They can also emit foul odours and attract unwanted attention. That’s why many people are willing to pay someone to clean their trash cans regularly.
The demand for trash can cleaning is high, and the competition is low. You can charge anywhere from $10 to $30 per trash can, depending on the size and condition. You can also offer discounts for multiple cans or recurring services. The startup cost may include a truck, a pressure washer, a water tank, protective gear, and some cleaning supplies.
4. Video Creation and Editing
Video is the king of content. More and more people are consuming video content online, on platforms like YouTube, Instagram, and TikTok. Businesses are also using videos to market their products, services, and brands.
If you have a creative eye and a technical skill, you can make money by creating and editing videos for individuals and businesses. Creating new videos and enhancing raw footage into a coherent and engaging story. You can use software like Adobe Premiere, Final Cut Pro, or DaVinci Resolve to edit videos.
The earning potential for video editors is high. You can charge anywhere from $1000 to $1500 per video, depending on the complexity and length of the project. You can also work on a per-project or retainer basis, depending on your preference and availability.
5. High-Ticket Sales
If you have a persuasive personality and a knack for communication, you can make money by selling high-ticket products or services. High-ticket sales are sales that involve large sums of money, usually over $1,000. These can be anything from software, coaching, and consulting, to real estate, cars, or jewelry.
The benefit of high-ticket sales is that you can earn a lot of money with fewer sales. You can also work on a commission-based structure, so you get a percentage of the sale price. This can range from 10% to 50%, depending on the product or service and the company.
One of the most famous examples of high-ticket sales is from the movie “Wolf of Wall Street.” In the movie, Leonardo DiCaprio plays Jordan Belfort, a stockbroker who sells penny stocks to unsuspecting investors. He uses his charisma, confidence, and persuasion skills to convince people to buy worthless stocks.
Of course, I don’t recommend that you sell anything illegal or unethical. But you can use the same principles of high-ticket sales to sell legitimate and valuable products or services. You can also use phone calls, email, or video to reach out to potential customers and close the deal.
The income potential for high-ticket sales is unlimited. You can scale your income as you improve your skills and increase your sales. You can also leverage referrals, testimonials, and repeat customers to grow your business.
6. Remote Appointment Setting
If you are new to sales and want to learn the ropes, you can start by becoming a remote appointment setter. This is someone who books appointments for sales teams through phone calls, emails, or social media to contact leads and schedule meetings.
The role of a remote appointment setter is to qualify leads and generate interest. You don’t have to sell anything or handle objections. You just have to get the lead to agree to talk to a salesperson using scripts, templates, or other strategies provided by the company or the sales team.
The benefit of remote appointment setting is that you can work from home, or anywhere with an internet connection. You can also work on a commission-based structure and get paid for every appointment you book. This can range from $10 to $50 per appointment, depending on the product or service and the company.
Remote appointment setting is a great way to learn the basics of sales, such as prospecting, cold calling, and rapport building. You can also use remote appointment setting as a stepping stone to becoming a full-fledged salesperson, or a high-ticket salesperson.