This article was contributed by Future Money Trends.
After the inauguration, everything changes. 2021 is the year that vaccines will be administered around the world. People will be out and about again, but corporations will be very slow to rehire. It’s going to be a recovery, but you can bet your bottom dollar that the governments of the world and central banks will have to incentivize all sorts of behavioral changes in order to make it sensible for big business to expand their workforce.
We just don’t see Main Street recovering quickly, nor do we anticipate great job numbers, so we wanted to compile a list of side hustles that offer not only the potential of replacing current income but quadrupling it and then some!
Before we unveil five out of the ten that we prepared, we want to be absolutely certain that you understand how much euphoria there currently is with stocks:
We believe that this ratio is going to compete with the P/E ratio mania of the 2000 Dotcom bubble, and we say that because today’s investors would rather pay a P/E ratio of 35, 40, and even 50 for companies like the FAANMG group since they trust them much more than they do government bonds.
The world’s new safe havens are the mega-cap businesses, so they command the premium of a stock/bond hybrid.
In 2021, we will not see anything like we experienced in March 2020. You can forget about the credit injections that the pandemic induced; that’s historical, so the markets will have to deal with much less and we don’t believe the street understands that new buyers won’t purchase the hot sectors of today that are up on hype.
If we were to compare what’s coming to what we’ve seen in previous situations, we could actually get a negative year for stocks in 2021.
There’s going to be a credit squeeze.
We do not yet see a bottom for the dollar, so expect massive weakness going into 2021, which is great for commodities but lousy for the stock market.
Now, let’s focus on solutions (2 of 5 great side businesses to start today):
You’ll be able to make money by selling items without even having to create them or keep them in stock yourself. That’s a low-risk business model.
This is a process known as dropshipping and it’s a modern online business model that requires very little initial investment. There are four steps to dropshipping:
- A customer places an order from your online store
- Your store automatically sends the order to your third-party product supplier
- The supplier prepares your customer’s order
- Finally, the supplier ships the order directly to your customer
Because it’s such a conveniently hands-off process (the merchant doesn’t have to order inventory or fulfill the orders in any way), 33% of online stores use dropshipping as a fulfillment model. Your responsibilities will mainly consist of finding a niche to sell to, marketing your products, and reaching new buyers.
- Sell Study Guides
This is ideal for young entrepreneurs and college students can even start doing this while they’re in school. Preparing and selling study guides for courses can be highly lucrative because the test-prep market is worth a mind-blowing $24 billion.
Every year, around 20 million new students start university or college. During the era of the COVID-19 pandemic, more and more courses are being taken online and e-commerce is an increasingly preferred method of product delivery.
There’s a robust and growing market for study guides to help alleviate the demands of today’s college students. You don’t even need to print up paperback study guides for courses – a PDF document should do just fine, and the markup can be very high since it costs very little (aside from time) to write up and send out these study guides.
This is the time to adapt to the post-COVID-19 world and make it rain cash!