I get asked all the time what is the best side hustle? The truth is that the best side hustle is the one that fits YOU the best. It’s the one that you’re good at, have passion for and would probably do even if you weren’t making any money at it. It’s the one that you know how to do so well that it’s easy for you, interests you and is something that you know a lot about. What IT actually is, I’m not entirely sure. There is no ‘one size fits all’ best side hustle.
What might be the best side hustle for you might be the worse side hustle on Earth for me and others. What the best side hustle for you is going to be, is one that rings all the bells for you and allows you to make money at the same time. That is going to be the best side hustle.
There’s a specific architecture to the best Side Hustle
That said, there is a specific ‘architecture’ that makes the best side hustle. In fact, this architecture may in fact make the best business. It optimizes all aspects of business, such as leverage, development of assets, utilization of social media and has true aspects of passive income (as much as there is such a thing). This architecture does not represent a particular subject matter nor is it within a specific industry sector. It actually represents a specific business template of sorts.
The best side hustle, or business, is one that has both depth and breadth. It provides the opportunity for a deep X axis, depth, and a very broad Y axis, breadth.
The best Side Hustle has BOTH depth and breadth
The X axis represents the potential for the side hustle to resonate on different ‘layers’ of customer interaction; through different mediums (website, podcast, events, etc.) and through different markets and platforms.
More specifically, the side hustle that has been chosen is of a nature that along the X axis it can do the following:
- facilitate a dedicated following of devotees
- has ample content that can be created around it
- has multiple physical products that are associated with it
- has intellectual products that can be developed for it and sold (such as instructional courses)
- has aspects about it where customers might purchase coaching or services
- customers would congregate in large gatherings such as events and programs.
Along the Y axis, the side hustle should be of a nature where it has a breadth of different product lines that are possible. This would consist of a multiple number of options for different products that then have an ample depth along their own X axis. The best side hustle should:
- provide for multiple product lines in different market segments
- have multiple products within each of these different product lines
What makes for the best Side Hustle?
One of the examples of a side hustle that I like to provide that fulfills both a deep X axis and broad Y axis is a business such as bass fishing.
Along the X axis, bass fishing offers the following aspects:
- is a major hobby and has a vibrant following
- it has a myriad of content areas ranging from specific techniques to bait
- it has a variety of products from fishing rods to lures
- it has intellectual products such as how-to manuals
- it has courses that can be created to educate customers on how to become better bass fishermen and women
- in order to become better, customers might be compelled to purchase guide services
- you could create summits or regional events for bass fishing enthusiasts to attend.
Along the Y axis, breadth, bass fishing has the following profile:
- a multitude of potential products that have considerable depth due to the variation of activities involved in this hobby such as fishing rods, tackle, clothing and apparel, fishing kayaks, recipe books, cooking accessories, spices, just to name a few potential core product lines.
- It also has a potential service component of the business, such as a physical guide service. This aspect of the business could provide significant deductions for the purchase of equipment used in the business such as vehicles, boats, canoes, kayaks, equipment, cell phone and other equipment required to operate this business.
As you can see with this example, bass fishing offers an incredible amount of ability for the side hustler to work on many different aspects, on many different platforms, with many different market segments and many different products. This is THE ultimate side hustle architecture.
The right architecture works for multiple Side Hustles
Although a slightly different business model in a completely different industry is a personal trainer. This too is a side hustle or business that meets many of the same aspects as our bass fishing example.
For starters, relative to the X axis, depth, personal fitness has a committed following, has an incredible variety of potential content areas, has a ton of physical product opportunities in the equipment and supplement markets, has potential for intellectual property relative to manuals and courses and has ample opportunities for large gatherings and events.
As it relates to the Y axis, breadth, personal training offers potential for a variety of different products and product lines. Fitness equipment that can be sold through affiliates is the obvious one. A variety of nutritional supplements, meal planning assets such as recipes, software and actual food is another obvious opportunity. Fitness apparel with branded options is also a significant opportunity.
In addition, fitness trainers also may provide coaching, create instructional courses and offer fitness boot camps for multiple individuals.
Conclusion
As you can see from both of the examples, very different businesses from very different markets can meet the requirements of having both depth along the X axis and depth along the Y axis. In addition, these businesses represent two very different forms of business, one a physical products business and the other a service business.
It’s not the market, form of business or even the business model of the side hustle chosen, it truly is whether or not the side hustle has BOTH depth and breadth!
