Popular Business Models and Side-Hustles

The internet has given rise to new business models and side-hustles that allow entrepreneurs to turn their hobbies into businesses or start online businesses from scratch. In this article, we will go through popular business models and side-hustles in 2021.  

• Also, Read This: Role of Branding in Success of Online Business

Online Casinos

Online casinos are simultaneously the most popular and profitable businesses in 2021. The digital gambling platforms provide hundreds of great casino games to a global audience of casino players. There are high-quality casino games by providers like NetEnt, Pragmatic Play, Microgaming Evolution Gaming, and other brands. They have also worked on mobile-optimized casino games that are accessible on mobile devices. Online casinos are also famous for their bonus casino offers and promotions. 

The disadvantage of online casinos is cut-throat competition, and as a business owner, you need to constantly update your marketing strategy and work to provide a personalized gaming experience to users to stand out from the other casino sites on the market.  

Online HR Agency

The gig economy boosted the chances of employment of millions of people around the world in companies that function beyond the borders of their country. Also, there is a huge amount of professionals that can work remotely on different projects, including software engineers, graphic designers, copywriters, and other professionals. This is why developing an online HR agency that helps businesses find the best candidates for their job position is a great business model that can function digitally.  

Micro Tasks

If you don’t have a lot of spare time, you can open an account on sites that allow users to complete microtasks. You can try answering surveys, but keep in mind that a lot of sites pay in gift cards. Or you can complete small tasks for business owners on sites like Amazon’s Mechanical Turk, for example. 

Some examples include transcribing audio, data verification, data entry, among many other tasks. It’s also worth mentioning that most jobs don’t require any special skills and you can complete them in a short amount of time. Another popular platform where you can finish everyday tasks, like ironing, cleaning, assemble furniture, is TaskRabbit. 

Rent Extra Space

If you have an extra room that you can rent, then you’re already in a good position to sign up on Airbnb. This can become a good source of passive income, especially if you live in a town or a city that’s a popular tourist destination.  

Also, you can rent the place when you’re on vacation or traveling abroad, for instance. It’s up to you to decide. Besides, the entire process is fairly simple. You need to provide an accurate description of your space and upload high-quality photos that reflect the atmosphere of your room or home. 

Surveys

A lot of sites offer rewards like coupons, gift cards for participants in focus groups, while respondents who took the time to answer various surveys can also get vouchers and money for their effort. This is a good option because you can answer questions on the move and save more money with gift cards. 

Also, the whole process is very simple, as you share your opinion on certain topics like current political affairs, certain brands and products, and other subjects. Some good examples of sites that offer paid surveys are Survey Junkie, Vindale Research, MySurvey, Swagbucks, and others. 

Become an Online Teacher

Online teaching platforms and courses are getting increasingly popular because they offer more flexibility for students, and they can learn different subjects from the comfort of their own homes. Hence, there’s definitely a demand for online teachers. Based on your skills and knowledge, you can check sites like italki, VIPKid, which are good platforms for teachers who are looking to teach English to non-native speakers. Moreover, if you already have an audience on social media sites, you can also promote your classes and courses on these sites.