Wednesday, October 16, 2024
How To Leverage The New #1 Most Lucrative Online Business Trend in 2024 To Become a Digital Nomad In 28 Days
In today’s rapidly evolving world, the concept of traditional work is being redefined. More people than ever are stepping out of the office and choosing the freedom to work from anywhere. If you’ve ever dreamt of traveling the world, setting your own hours, and building a sustainable income on your own terms, then becoming a digital nomad might just be the lifestyle for you. We’ve compiled a list of seven side hustles that can help you earn $500 a day or more, all while enjoying the freedom of working remotely. What’s even better? You don’t need any experience to get started with these! Let’s dive in.
Potential Earnings: $500+ per day
Startup Costs: $2,000 - $3,000
Difficulty: Moderate
Affiliate marketing is one of the most popular and profitable side hustles available for digital nomads. It’s simple: you promote products or services, and when someone makes a purchase through your referral, you earn a commission. The beauty of affiliate marketing lies in its scalability and time leverage. Once your system is set up, your primary task is sending out links and earning passive commissions.
There are numerous ways to do affiliate marketing—whether it’s building niche websites that rank on Google or creating content around high-ticket products that you can promote in webinars or calls. The barrier to entry is relatively low, and with consistency, you can scale to $10,000 - $15,000 per month within 24 months.
Startup Costs: Building a website, purchasing software, and a decent laptop will require an initial investment of around $2,000 - $3,000.
Key Challenge: Since you’re promoting someone else’s product, competition can be stiff, and you need to find a way to differentiate yourself. Whether through adding bonuses or better marketing strategies, you’ll need to find your unique edge.
Potential Earnings: $500+ per day (with a large audience)
Startup Costs: $3,000 - $4,000
Difficulty: High
If you’ve got a creative streak, becoming a content creator could be your pathway to earning $500 a day or more. Content creation can take many forms—whether it’s YouTube videos, Instagram reels, or TikTok. As a digital nomad, your location can serve as an endless source of inspiration for the content you produce.
But here’s the catch: content creation requires a significant time investment, especially at the start. It can take anywhere from 6 to 24 months to grow a channel or social media presence that garners enough views to be monetized effectively. On average, YouTubers earn $5 to $8 per 1,000 views, so you'll need to accumulate a substantial number of followers before reaching the $500/day mark.
Startup Costs: You’ll need a good camera, lighting, editing software, and a powerful laptop. Expect to spend around $3,000 to $4,000 initially.
Key Challenge: The content creation space is saturated, and to stand out, you’ll need high-quality production and creative ideas. It’s also unpredictable—going viral can take time, if it happens at all.
Potential Earnings: $500+ per day
Startup Costs: $3,000 - $4,000
Difficulty: Moderate to High
The online education industry is booming, and if you have expertise in any niche, you can create and sell courses. Whether it’s marketing, fitness, coding, or language skills, people are always looking for new ways to learn online.
Creating a course requires an upfront time investment to build the curriculum, record videos, and structure everything. However, once it’s set up, you can generate passive income for years. Typically, courses sell for $297 or more, and with the right marketing, you can easily earn $500 or more per day.
Startup Costs: Similar to content creation, you’ll need good video and editing equipment, along with a platform to host your course, which will set you back around $3,000 to $4,000.
Key Challenge: Course creation requires not only expertise in your subject but also effective marketing to ensure people buy. Additionally, you’ll need to make sure your content is engaging and well-structured.
Potential Earnings: $500+ per day
Startup Costs: $1,000 - $15,000
Difficulty: Moderate to High
E-commerce is a broad category that includes several models like dropshipping, Amazon FBA, and owning your own online store. Dropshipping is the easiest to start because it doesn’t require upfront inventory—your supplier handles shipping directly to the customer. On the other hand, Amazon FBA requires you to buy products in bulk and store them in Amazon’s warehouse.
Both models offer high time leverage, but they come with different risks and startup costs. Dropshipping can be launched with as little as $1,000, while Amazon FBA may require $10,000 or more for product inventory and storage.
Startup Costs: Dropshipping can cost around $1,000 - $2,000 to get started, while Amazon FBA requires a larger investment ($10,000 - $15,000).
Key Challenge: Finding a winning product is crucial. You may face stiff competition and have to deal with the risk of unsold inventory.
Potential Earnings: $500+ per day
Startup Costs: $5,000 - $6,000
Difficulty: Moderate
The coaching and consulting industry is booming, with more people than ever seeking personalized guidance to solve their problems. As a coach, you could charge anywhere from $1,500 to $6,000 for personalized programs, allowing you to make a living with just a handful of clients each month.
The beauty of coaching is that it requires minimal startup costs compared to other side hustles. However, you need to be an expert in your niche and able to deliver high-quality guidance to your clients.
Startup Costs: You’ll need around $5,000 to invest in a good camera, laptop, and software for scheduling, video calls, and website development.
Key Challenge: Building credibility and trust in the market takes time, and you’ll need strong sales skills to consistently close high-ticket clients.
Potential Earnings: $500+ per day
Startup Costs: $5,000
Difficulty: High
Starting a service-based agency (such as marketing, SEO, or web development) is another lucrative side hustle for digital nomads. Agencies offer done-for-you services, which are attractive to clients who don’t want to handle the work themselves. You could charge anywhere from $1,500 to $10,000 per month, depending on the services offered.
However, agencies come with a heavier time commitment and more operational challenges compared to other side hustles. To scale, you’ll likely need to hire staff, and managing a team remotely requires strong leadership and organizational skills.
Startup Costs: Expect to invest around $5,000 in software, lead generation, and project management tools.
Key Challenge: Managing clients and delivering services at scale can be time-consuming, and competition is fierce.
Potential Earnings: $500+ per day
Startup Costs: Minimal
Difficulty: Moderate
Nomadic closing is a relatively new trend where you partner with businesses, agencies, or coaches to help them close high-ticket sales. You’ll be responsible for handling sales calls, and in return, you can earn commissions ranging from 10% to 20% on deals worth $1,500 - $15,000 or more.
The beauty of nomadic closing is that it requires virtually no startup costs and has extremely high time leverage. You could work just a few hours a day, closing deals from anywhere in the world, and still make $500 or more daily.
Startup Costs: As long as you have a phone and internet connection, you can start for almost $0.
Key Challenge: You need excellent sales skills and the ability to close deals. Building partnerships with businesses is also crucial for a steady flow of leads.
Whether you’re just starting out as a digital nomad or looking for ways to increase your income, these seven side hustles offer fantastic opportunities to make $500 or more each day. They each have their own challenges, but with focus and dedication, you can build a profitable and sustainable income while living life on your own terms.
If you’re serious about becoming a digital nomad and earning a significant income, check out our free digital nomad masterclass. You'll discover insider strategies to help you avoid common pitfalls and accelerate your journey toward freedom.
Founders of Wealthy Nomads
We liberate 9-5ers and help them become digital nomads through Nomadic Closing.
How To Leverage The New #1 Most Lucrative Online Business Trend in 2024 To Become a Digital Nomad In 28 Days