For all of the negativity that social media and modern technology receives, it has presented an opportunity. Opportunity to connect with people around the world, offer your services, and receive quick safe payment in return. Millennials are the driving force behind this desire to earn money from their laptop; old enough to already have skills and confidence, but young enough to adapt to new opportunities.
Dropshipping
Dropshipping is a new way of doing business. It’s not a totally new invention, but the fact that anybody can create a website shop, find a supplier, and begin selling products that they never even come into contact with is quite powerful. Of course, because of the low barriers to entry, profit margins and competition can be rough, but many find their niche and do well.
Many will critizise the idea of dropshipping, but it’s empowering and democratic to the point where it’s available to the working classes. You don’t need €50,000 startup costs for inventory and a physical store, nor do you need 6 months off work to give it a go.
Content Creator
Another income stream made popular by millennials is content creation; an undeniably large industry and again, very democratic in how accessible it is. Millennials no longer look on BBC iPlayer for a documentary to watch – they head to Youtube. Sure, Vice and DW exist there too, but so do millennial sole-creators that are operating on there and creating incredible stuff.
Meanwhile, millennials changed adult entertainment. It’s now possible to broadcast oneself on platforms like Tempted and receive very high incomes from performing or chatting. Tips and a share of ad and subscription revenues with the platform are ways in which the creators make good money.
Influencer
Tying in with the content creator business, millennials found a way to leverage para-social activity for their own gain. It may not be easy, but again, it’s accessible to everyone. Posting amateur TikTok videos or simply being a big personality on Twitter can be enough to grow a following. This is different from being a celebrity, because you needn’t have a mainstream public image, but simply a smaller cult following who are engaged – that’s enough to influence a few thousand people, which is enough to earn money from product placements, partnerships, and affiliated sales.
Dumpster diving
Dumpster diving should not be featuring on a business website, but this is about millennials and unusual sources of income…
Dumpster diving is growing in popularity in the US. Youtube videos of it receive a lot of views, and more people are putting on their sweatpants to earn some extra cash. Thousands of dollars each month are made by one individual alone in some examples. It does raise the question that perhaps Europe, with less ‘competition’, may yield even better results.
Crafts and marketplaces
It’s never been easier to learn leathermaking, woodworking, or knife sharpening. Youtube has so much content that it’s simply a matter of putting in the time to learn, for free, a new skill. This has led to more people picking up secondary skills outside of their careers – woodworking is no longer just for carpenters and joiners.
The second reason for this thirst to learn is how much easier it is to sell items now. Carboot sales are obsolete, as we can simply post an item in under a minute to our local community through Facebook marketplace, or a national audience on the likes of Etsy. Side incomes have never been easier.
Technical skills are even more popular for side hustles, too. For example, mastering Photoshop and selling those services on digital marketplaces like Fiverr.
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