Just like 2021, the year of 2022 will reveal a lot of new ideas to start a business dependent on the times we live in. In the middle of 2020, people started working from home so this created a lot of opportunities for small businesses to start selling products like office chairs, monitors and desks, but in 2022, I think not many things will change in business like they did in 2021, so I am sharing with you my Top 5 Business Ideas to start in 2022 as side hustles.
Reselling Products
Buy products like reusable coffee cups and phone stands from retail stores such as Ross (a US chain) and TKmaxx (in the UK) and resell them on eBay. One thing to mention is try to only sell new products, because selling used ones can get your account banned and that’s never a good thing. When you go to any of these stores, scan the barcode or search for the product on eBay and look into the “Sold Items”, then check when it was lastly sold. If you find that the particular product was sold a day ago, buy it and post it on eBay immediately. You will be surprised how easy it is to make a profit. To be realistic, you will not be looking at a lot, maybe 10/20% profit, but it’s still something. When you buy cheap products in the beginning, make some profit, re-invest it in more expensive products and you will find yourself buying and selling $300 products and reselling them for $400 in a few months.
Investing
Investing is more of a 1 time thing, because you essentially put money into an ETF (I explain what ETFs are on the full video at the end of the article). They are these big funds that consist of 100s of companies so when those companies are doing well, the fund increases in value. It’s less risky, but less rewarding.
Another way to invest is in companies by themselves. To do this, you can make an account at Robinhood or Freetrade and start looking at how different companies are doing on the market. Pick a couple and look into their financials, growth potential and industry, then you can make a decision whether to invest in them or not. Of course, there are other profitable ways such as trading by looking into graph analysis and indicators to find patterns where you can buy and sell. This is not a financial advice, your capital is at risk so do your own research before committing.
List your place on AirBnb
You will be surprised how profitable this idea is. You can get between $300 to $1200 per month renting out your place to strangers for a limited amount of time. To automate the whole process, you will need to find a cleaner and a maintenance person or a manager who can take care of your property. I have some friends who automated the whole process by installing automated locks on the doors and changing the codes for those locks via an App. The process is the following:
- Take high quality pictures of your place
- Install locks with codes
- Install an App on your phone to change the code after each guest leaves
- Find a cleaner who can take care of the place after each guest leaves
- Find a maintenance person or a manager
- Rent it out
The only thing you will have to do is talk to the guests and ensure everything is in order. I once went out with a friend to the beach in Bulgaria and asked her how she was making money and she told me – she does AirBnb for her home in Toronto, Canada while she was in the beach in Bulgaria. If you can automate your whole process, you will benefit from a free lifestyle to do whatever you want anywhere in the world as long as everything runs smoothly. Thrifty Nomads talk about it more.
Become a YouTube Editor and Podcast Producer
I am currently running a podcast and editing videos for a client with whom I work with for 5 years now and we constantly create new content. If you have basic Premiere Pro, Adobe Audition or Final Cut pro skills to cut, add captions, reduce noise and add intros, you will be able to do this yourself. In order to start, try to create a profile on websites such as Fiverr and UpWork to create your portfolio. When you get your first client, ask them for a review after, then the 2nd, the 3rd & 4th and all of a sudden you already have a fully running business and business owners will approach you to edit their videos and podcasts. With businesses going digital, editing will become a top skill in 2022 because companies need this to keep their clients engaged with their brand, which brings me to the next point
Social Media Assistant
Not only that you can edit their videos and podcasts, but if you learn a little bit about Google Ads, LinkedIn and Instagram Promotions, you can be their own Social Media person who can run their whole digital marketing. Whilst I edit people’s videos, I also create LinkedIn campaigns and help them target the right people for their business. You will be surprised how many business owners don’t know about the wonders of LinkedIn to be able to target people’s occupations and get their videos in front of potential clients. I have been fascinated by the need for digital marketers in the last couple of years. To start, try to do a free online course on Google Ads and watch some YouTube videos – there is a ton of content to help you on topics such as SEO (Search Engine Optimization), Email Marketing and Social Media Marketing.
This brings me to the end of the article. Whichever one of these you choose, it’s all about starting and doing the hard work to contact people about your skills so start with a website, your social media profile and an email, then contact a 100 companies. You will see that 1 of them will get back to you, then use the work you’ve done for them and create a portfolio. You will find yourself being contacted by many others and you are now will be a full on business owner yourself with a handful of clients.
Watch the full video to learn more about the 5 Business Ideas for 2022 and let me know what you think in the comments.