Original question from Quora:
What side business can make you $1000-$2000 a week?
Legal or not. Just want to know what other types of unorthodox profitable “side” businesses are there
Doesn’t have to be a long answer, I just want to see ideas of what you think works
There are a lot of side businesses you can do that will make you $1,000+ a week. However, you are going to need to work at them quite a bit in the beginning to get them making good money.
The most straightforward way to get there right now is probably buying clearance items and flipping them on eBay or Amazon.
Patt Flynn on Smart Passive Income Podcast did an excellent episode about how Jessica and Cliff Larrew use this exact strategy to make a six figure profitable income. You can listen to the episode here: SPI 099: Buying Stuff and Selling It on Amazon (For 6-Figures a Year!) with Jessica and Cliff Larrew
My personal experience using this technique is that it is not my cup of tea as I don’t enjoy spending hours driving between stores and scanning items. However, when I tried it I turned a nice profit as an experiment.
The two things that you need to know to really make this work is to understand that you must buy things that are in demand and that you can turn a good profit on. The rule of thirds is pretty key. If you can buy for 33% of the cost, pay Amazon 33%, the rest is your profit.
Making the numbers work is where the money is going to be made, so buying right and selling right are key.
At some point, if you go down this route, you will probably end up sourcing your own white label products, which can be profitable too. But, flipping clearance items is the easiest way to get started without a huge financial commitment.
In your shoes, I would focus more on building the skills and experiences you need to have in selling things to other people at a profit. If you build up that skill, you’ll find there are many ways to make the side income you are looking for.
Without the skill of selling things, making any side income will be tough.
Don’t forget, we are all selling something all the time. By default we are selling ourselves and our ideas to other people.
If you master selling, you can get just about whatever you want in life.
P.S. Have you subscribed to Code Career Genius yet?