Justin Mares is the co-founder and CEO of Kettle and Fire, a multi-million dollar D2C bone broth company.
He writes about the 4 kinds of side hustles:
- Buy an existing asset
- Launch a product on a marketplace with existing demand
- Launch a unique, one of a kind product in a new space where you can buy demand (Adwords, Facebook, etc.)
- Arbitrage (Craigslist, Airbnb, trading, Uber)
Justin points to #2 as his favorite, but #1 sounds increasingly to me like a legit “hack” for making money online.
So long as you buy smart, of course 🤓
An example from Justin:
I know one guy who found a watercolor tutorial site with a ton of organic traffic. To monetize, the site was showing Google ads on the sidebar, and using Amazon affiliate links. All told, it was pulling in $500-1000 per month.
My friend then bought the site, developed a paid course around learning to paint watercolor, and was making 10k+ a month in just under 6 months.
You can look for online businesses to buy on marketplaces like Flippa and Empire Flippers.
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