3 Secrets to Starting a High-Income Side Hustle in 2024, According to People Whose Gigs Make More Than $20,000 a Month Side hustles can be a significant source of supplementary income — especially if they build on your interests or skills.
- Nearly two in five, or 39%, of U.S. adults have a side hustle to earn extra cash, per Bankrate.
- Successful side-hustlers often rely on passion, consistency and authenticity to build their businesses.
If you're looking to kickstart a high-income side hustle in 2024, you're not alone. Nearly two in five, or 39%, of U.S. adults have a side hustle to supplement their incomes — and pay essential bills, according to a recent Bankrate survey.
But where to begin? You might want to consider a side hustle that aligns with your interests or talents. For example, this teacher translated her passion for education into a lucrative online gig, and this 26-year-old's ChatGPT obsession led to a "simple," $4,000-a-month side hustle.
Of course, building a successful side hustle can be easier said than done. But millions of Americans are doing it — and can provide invaluable insights when it comes to navigating business ventures of your own.
Entrepreneur's Side Hustle Spotlight series shares some of their inspiring stories and helpful advice. Three of them — all of whom have made more than $20,000 per month at least once since launching their side hustles — spill their secrets to success below.
Record monthly earnings: $27,000
Neal runs a cricket-breeding side hustle, Critter Depot, out of Lancaster, Pennsylvania.
"First, find a product and how to source it," Neal says. "Don't spend time, money and energy on building out a website and marketing that website without first knowing which product you are going to sell and where you are going to get that product from. Also, take note of what skills you learn when you start a side hustle. Many side hustles flop, and that's okay. You will learn many business skills trying a side hustle, and those skills are transferable to your full-time job, which can help you advance in your career. So don't worry about a side hustle failing. There is much to learn from failure."
Record monthly earnings: $22,735
Laczynski makes about $150,000 a year working 20 hours a week teaching on Outschool, a live, online learning platform for kids.
"You can find a way to turn your passion into a paycheck," Laczynski says. "When you love what you do, it's contagious. Focus on doing things correctly, scaling organically and staying consistent in your product. You must maintain your customer experience when you have one customer or one hundred. Creating sustainable systems, building your support, and keeping a growth mindset are key. You should constantly grow and learn, so seek experts and be open to support."
Skjoldahl turned her furniture-flipping side hustle into The Furniture Dr.
Record monthly earnings: $37,000
"Be consistent and authentic," Skjoldahl says. "Network with everyone you can — especially those outside your 'niche' or business industry. I've learned the most from others who are not in my industry and found unique ways to apply their advice to my own business and niche. I've also found that scrolling social media feeds does nothing but limit my creativity and inspiration. The less I scroll, the more creative I become and the better my content and business perform. Never rely on one stream of income. Find many ways to profit from whatever you are hustling, and repurpose everything. And most importantly, work smarter, not harder."