3 Side Hustles That Are No Longer a Good Idea for 2023
For many of you, it’s not at all beneficial.
I will never forget the year 2022 because of the number of events that took place.
To start,
- I received my engineering degree.
- On Medium, I gained over 6000 followers and have published more than 300 posts.
- With the aid of technical writing, I earned several thousand dollars.
- I landed my first job at the most amazing startup I could have ever imagined.
- Tried my hand at investing and discovered a number of different ways to make money.
Undoubtedly in this process, I’ve made a number of blunders. One of them was trying a number of side hustles, the majority of which have failed horribly that’s what I want to write about.
Let’s begin.
- Stop wasting your time filling out surveys
I learned about different websites that offer you money to take out surveys at the beginning of the year 2022.
And believe me, initially, I thought it is not a bad idea; you can do a 10–20 minute survey every day and receive money in return.
Yes, you may fill it out when you have spare time, but you are mistaken. You will gradually try to fill out more surveys and visit various different websites to do additional surveys, and here is when you will go wrong.
Within a few days, you will undoubtedly make some money, but you will soon discover that you have merely wasted your time. And the amount you earn by investing your time remains constant.
Instead, if you spent the same amount of time developing skills, you would have earned more, and your income may be boosted within months and would increase over time.
2. YouTube is no longer a side hustle
Many people advised me to start making videos on YouTube in the year 2022. And even suggested creating faceless YouTube channels.
To be honest, I’ve experimented with this side hustle as well. And, to be honest, it was all nonsense. Nowadays, acquiring more views and subscriptions requires appropriate content, which takes a significant amount of work.
Yes, I have stated that you must devote a significant amount of effort to creating YouTube videos. It will be useless if you just make one video every week.
And it is at this point that I assert that YouTube is no longer a side hustle; creators are working full-time to make a career from YouTube.
Yes, I know a number of creators, and the majority of them make a good living.
3. Playing Web3 games or creating NFTs
In the year 2022, various web3 applications were developed to assist you in earning money while playing games. And after attempting, I was astounded to see that for 8 hours of play, you will only make $4, sometimes even less.
You may argue that you may easily earn $4 by working 10 minutes or less. That is why I want to advise you to avoid playing web3 games for money. It’s not going to make you a lot of money.
Even when it comes to NFTs, I have to apologize.
But, Nitin, NFTs are a type of digital art, and I’ve seen multiple examples of NFTs being sold for millions of dollars. You may also build NFTs and sell them online if you have graphic design or comparable skills.
That is where you are incorrect.
To begin with, NFTs are being pushed in the same manner that crypto was hyped in past years. It is not valuable to me because you can generate NFTs in minutes with the aid of a handful of online tools.
So, what are the finest side hustles?
Nitin, you’ve urged us not to focus on some of the side hustles. But you haven’t told us what we should focus on.
So, if you have a profession where you are continually learning and improving yourself, you don’t need to start a side hustle. Even if you own a business, you should devote your time to it. Some of you may disagree, but you must trust me when I say that side hustles require time and that you may lose something better.
But, Nitin, I have some free time and would like to start a side hustle to enjoy the process. Yes, it is where you may begin anything depending on your profession, my friend. For example, since I’m a programmer, I can produce technical stuff, which is what I prefer to do in my spare time.
Similarly, if you have abilities such as graphic design or digital marketing, you may begin freelancing (I have to clarify freelancing is not at all easy).
Alternatively, if you have some other skill, you may teach it online and earn money.
Hope you like it.
That’s it — thanks.
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