Ever wondered why some online business ideas never seem to take off? It might be because they’re outdated. Online business, passive income and side hustle ideas are constantly evolving, and what worked yesterday might not work today.
Making money online becomes a lot easier with the technology progress and Digital Economy Growth. With a laptop or a smartphone connected to the internet you can earn real cash.
The internet is filled with outdated strategies that can waste your time and money. Let’s get into these outdated online business ideas so you can avoid them and actually make money online.
1. Rain Videos
You've probably seen those YouTube tutorials about making money by posting rain videos. It's an attractive idea—recording or compiling rain sounds and videos, then uploading them to YouTube for passive income. While it sounds simple, here's why it’s outdated:
1.1 The Concept
Rain videos feature nothing more than visuals of rain paired with the sound of rain. They serve as ambient noise for people who need a calming background sound. The simplicity of these videos can be mind-blowing when you learn about the potential earnings.
1.2 The Potential Earnings
On YouTube, creators can earn $3.30 to $4.40 RPM (revenue per thousand views). With millions of views, a single rain video could make upwards of $800,000. Sounds great, right? But here's the catch.
1.3 YouTube’s Monetization Policy Updates
YouTube’s updated policies, specifically the reused content policy, have made it tough to monetize such videos. If your content is deemed repetitive or reused without significant changes, you risk demonetization.
1.4 The Workaround
Successful channels like Stardust Vibes don’t use stock footage. They create their own content by recording rain sounds and visuals themselves. This ensures originality, but it’s far more labor-intensive.
2. Blank Books
Creating and selling blank books, such as journals or diaries, has evolved into an outdated side hustle. While initially popular due to their simplicity and low barriers to entry, recent changes in Amazon’s policies have significantly reduced the profitability and viability of this venture.
2.1 The Idea
The concept behind this hustle is straightforward: self-publish blank books on Amazon KDP (Kindle Direct Publishing). These books typically include minimal written content, consisting mainly of blank pages for writing or drawing. Common examples include:
- Diaries: Personal daily logs for thoughts and events.
- Journals: Themed books, like gratitude journals, travel journals, or fitness journals.
- Planners: Daily, weekly, or monthly planners for scheduling and organizing tasks
Entrepreneurs were drawn to this idea because of its simplicity. Creating a blank book required minimal design skills and no need for extensive written content, making it an accessible entry point for many.
2.2 Changes in Amazon KDP Policies
Amazon has implemented significant changes to its Kindle Direct Publishing (KDP) platform, particularly affecting low-content books. Previously, Amazon offered free ISBNs (International Standard Book Numbers) for self-published books, including blank books. However, Amazon no longer provides free ISBNs for low-content books. This change has critical implications:
- Print Restrictions: Without a free ISBN, your books can't be printed and sold in physical form. They are only available as eBooks, which is impractical for journals and planners since consumers prefer physical versions for writing.
- Increased Costs: Authors now need to purchase their own ISBNs if they wish to print their books. The cost is $125 for one ISBN or $295 for a pack of ten. This upfront cost can be prohibitive, especially for new or small-scale entrepreneurs.
2.3 The Financial Risk
Investing in blank books has become significantly riskier due to these policy changes and market saturation. Here are some financial risks to consider:
- Upfront Costs: Purchasing an ISBN adds a significant upfront cost. If you plan to publish multiple books, the costs can quickly add up.
- Market Saturation: The market for blank books on Amazon is highly saturated. Thousands of similar products are already available, making it challenging to stand out and attract buyers.
- Profit Margins: After accounting for ISBN costs, design, marketing, and Amazon’s fees, the profit margins for blank books are slim. The high competition further drives down prices, making it difficult to achieve significant sales.
2.4 Viable Alternatives
Despite the decline in profitability for blank books, there are still opportunities within the self-publishing space. Here are some viable alternatives:
- Medium-Content Books: Consider creating books that include some content, such as coloring books, activity books, or guided journals. These still qualify for free ISBNs on Amazon KDP.
- Coloring Books: These can cater to both children and adults, offering a creative outlet. Themes can range from intricate designs for stress relief to educational coloring books for kids.
- Activity Books: These can include puzzles, mazes, word searches, and other engaging activities. They cater to a broad audience, from children to adults.
- Guided Journals: These provide prompts or questions to guide the user’s writing, adding value and differentiating them from blank journals.
- Thorough Market Research: Before diving into a new niche, conduct thorough market research to understand the competition, identify gaps, and find opportunities. Use tools like Amazon’s Best Sellers Rank, keyword research, and customer reviews to gauge demand and identify trends.
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3. RedBubble Print on Demand
Print on demand on platforms like RedBubble was once a goldmine, but things have changed. Let’s break down why this side hustle is no longer as profitable.
3.1 How It Works
RedBubble is a popular print-on-demand platform where artists and designers can upload their artwork. Once uploaded, RedBubble takes care of everything else: printing the designs on various products (like t-shirts, phone cases, and mugs), packaging the items, and shipping them to customers. Artists earn a commission on each sale, which is a percentage of the retail price set by RedBubble.
3.2 The Pandemic Boom and Bust
During the COVID-19 pandemic, there was a significant surge in demand for unique, custom-made items, especially face masks. This led to a boom in sales for many RedBubble sellers. However, as the pandemic situation stabilized and demand for masks decreased, overall sales on the platform saw a decline. Additionally, RedBubble introduced account fees for new sellers, which further reduced the potential profit margins. The market became saturated with a flood of new designs, making it harder for individual artists to stand out.
3.3 The New Reality
Today, new sellers on RedBubble face several challenges. The introduction of account fees means that new artists must pay to maintain their presence on the platform, cutting into their earnings. Furthermore, the market is now flooded with designs, increasing competition and making it difficult to achieve significant sales. While it is still possible to make money on RedBubble, the income is generally lower than it was during the pandemic boom. Artists must set realistic expectations and understand that this side hustle may not provide a substantial revenue stream.
3.4 Tips for Success
Despite the challenges, there are still ways to succeed on RedBubble:
1. Create Unique, High-Quality Designs: To stand out in a saturated market, focus on producing unique and high-quality artwork. Original and creative designs are more likely to attract buyers.
2. Promote Your Work: Don't rely solely on RedBubble's platform for exposure. Use social media, blogs, and other marketing channels to promote your designs and drive traffic to your RedBubble store.
3. Optimize Your Listings: Use relevant keywords and tags to make your designs easier to find. Clear and descriptive titles, along with detailed product descriptions, can help improve your search visibility.
4. Focus on Niche Markets: Instead of trying to appeal to everyone, target specific niches or communities with your designs. Niche markets often have less competition and a more dedicated customer base.
5. Keep Up with Trends: Stay updated on current trends and incorporate them into your designs. Trendy designs can attract more attention and increase sales.
6. Patience and Consistency: Building a successful print-on-demand business takes time and consistent effort. Regularly upload new designs and stay engaged with your audience to gradually grow your presence on the platform.
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4. Dropshipping
Once heralded as an easy way to make money online, dropshipping has seen its golden days pass. Here’s why it’s outdated:
4.1 The Concept
Dropshipping is a retail fulfillment method where a store doesn't keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer. This way, the seller doesn’t have to handle the product directly. The appeal of dropshipping lies in its low startup costs and minimal inventory risk, making it seem like a low-risk, high-reward strategy.
4.2 Market Saturation
The dropshipping market has become extremely saturated over the past few years. With the low barrier to entry, countless new sellers have flooded the market, leading to intense competition. This saturation has driven down profit margins as sellers compete on price. Many niches are oversaturated, making it difficult for new entrants to stand out and gain a foothold. Additionally, popular products can quickly become oversaturated, leaving little room for profit.
4.3 Customer Service Challenges
Dropshipping can present significant customer service challenges. As a dropshipper, you're entirely reliant on your suppliers for product quality, stock availability, and shipping times. If a supplier fails to deliver on these fronts, it directly impacts your business. Poor supplier performance can result in delayed shipments, subpar product quality, and inaccurate inventory levels. This can lead to negative customer reviews, increased returns, and a damaged reputation. Managing customer expectations and resolving issues becomes more complex and time-consuming when you're not in control of the inventory.
4.4 Better Alternatives
Given the challenges associated with dropshipping, consider exploring other business models that provide more control and potentially higher profit margins:
1. Private Labeling: Instead of dropshipping, consider private labeling your products. This involves sourcing products from manufacturers and selling them under your own brand. While it requires holding inventory, it allows you to build a brand and control product quality.
2. Brand Building: Focus on creating a unique brand and product line. By developing a brand, you can differentiate yourself from competitors and build customer loyalty. A strong brand can command higher prices and generate repeat business.
3. Print on Demand: Similar to dropshipping, print on demand allows you to sell custom-designed products without holding inventory. However, you have more control over the design and quality of the products, which can help build a stronger brand identity.
4. Wholesale Buying: Purchasing products in bulk at wholesale prices and selling them at a markup can offer higher profit margins than dropshipping. This model requires holding inventory, but it provides more control over product quality and availability.
5. E-commerce Store: If you have a passion for a particular niche, consider starting an e-commerce store with curated products. This approach allows you to offer a more personalized shopping experience and build a loyal customer base.
5. Cryptocurrency Trading
Trading cryptocurrencies was once seen as a fast track to wealth. However, it’s a high-risk endeavor with many pitfalls.
5.1 Market Volatility
Cryptocurrency prices are known for their extreme volatility. While there are numerous stories of individuals making massive gains, there are equally as many accounts of devastating losses. Prices can swing wildly within a short period, influenced by various factors including market sentiment, news events, and speculative trading. This volatility makes it difficult to predict price movements and increases the risk of significant financial loss.
5.2 Regulatory Uncertainty
Cryptocurrencies face varying degrees of regulatory scrutiny around the world. Governments and regulatory bodies are still grappling with how to manage and oversee the burgeoning crypto market. Changes in regulations can have drastic effects on the market, sometimes causing sudden price drops or increases. The uncertainty around regulatory developments adds another layer of risk for traders, as a single regulatory announcement can dramatically impact their investments.
5.3 Skill and Knowledge Required
Successful cryptocurrency trading requires substantial knowledge and skill. It’s not as simple as buying low and selling high. Traders must engage in market analysis, understand technical and fundamental analysis, and stay updated with market news and trends. Constant monitoring of the market is essential due to its 24/7 nature. Without a deep understanding and continuous learning, novice traders are more likely to make poor decisions that can lead to significant losses.
5.4 Long-Term Strategies
Given the high risks associated with day trading and the volatility of the market, long-term investment strategies may be more prudent for those interested in the cryptocurrency space. Investing in established cryptocurrencies like Bitcoin and Ethereum, or in blockchain technologies, can offer a more stable approach. Long-term strategies reduce the need for constant market monitoring and can leverage the growing adoption and technological advancements in blockchain. This approach is typically less risky than attempting to capitalize on short-term price fluctuations.
6. Survey and Microtask Websites
Earning money through survey and microtask websites was never a high-earning strategy, but now it's even less viable.
6.1 The Reality
These platforms offer minimal compensation for your time and effort. You might find yourself spending several hours completing surveys or performing small tasks, only to earn a few dollars in return. The time-to-earnings ratio is very low, making it an inefficient way to generate income. This can be particularly frustrating when you consider the amount of time you could be investing in more lucrative opportunities.
6.2 Competition
The competition on these sites is intense due to a global workforce that can access them. This high level of participation keeps the pay rates low. Many individuals are willing to work for minimal compensation, driving down the potential earnings even further. The oversaturation of participants makes it challenging to find high-paying surveys or tasks, leading to a frustrating and often fruitless experience.
6.3 Better Use of Time
Given the minimal financial returns from survey and microtask websites, it’s wise to consider alternative ways to use your time that can yield higher earnings. Investing time in developing marketable skills can significantly enhance your earning potential. For instance, skills in freelance writing, graphic design, digital marketing, or programming are in high demand and can provide substantial income. Online courses, tutorials, and practice can help you build these skills. By focusing on skill development, you can secure more profitable freelance gigs or even full-time remote work, offering a better return on your investment of time and effort.
Also, read this: Top 5 Side Hustles to make $100 a day in 2024
7. Affiliate Marketing
Affiliate marketing, once hailed as a lucrative opportunity, now faces significant challenges due to oversaturation in popular niches like health, finance, and fitness.
7.1 The Oversaturation Issue
Affiliate marketers in crowded niches struggle to stand out amidst fierce competition. To succeed, it's essential to invest heavily in SEO strategies, content creation, and audience engagement. This investment helps differentiate your offerings and attract a loyal following amidst the noise of competing affiliates.
7.2 Evolving Algorithms and SEO
Search engine algorithms are continually evolving, impacting website rankings and traffic flow. Staying informed about these changes and adapting your affiliate marketing strategies accordingly is crucial for maintaining visibility and effectiveness. Investing in long-term SEO efforts can help sustain organic traffic and reduce reliance on paid advertising, thereby optimizing your return on investment.
7.3 Diversification and New Approaches
Exploring less saturated niches or emerging affiliate programs can provide new opportunities for growth. By diversifying your affiliate partnerships and product offerings, you can mitigate the risks associated with market saturation. Additionally, focusing on creating valuable, unique content that genuinely helps your audience can build trust and credibility, fostering long-term relationships and improving conversion rates.
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8. Self-Published eBooks
Self-publishing eBooks remains a viable option for aspiring authors, albeit in a saturated market that demands strategic planning and quality content.
8.1 Market Dynamics and Visibility
The eBook market is overflowing with countless titles, spanning from meticulously crafted gems to hastily put together pieces. To stand out in this crowded space, authors need to prioritize creating well-written, professionally edited books that resonate with specific niche audiences. Effective marketing strategies, like using social media platforms and growing an email subscriber list, can significantly boost visibility and attract more sales.
8.2 Platform Policies and Distribution
Amazon, as a dominant eBook retailer, plays a pivotal role in an author's success. However, Amazon's algorithms and policies frequently evolve, impacting an eBook's discoverability and sales performance. Authors should consider diversifying their distribution channels by exploring alternative eBook platforms and direct sales avenues to reduce dependency on a single retailer and mitigate potential risks associated with policy changes.
8.3 Building Author Brand and Audience Engagement
Building a personal brand as an author and cultivating a dedicated reader base are essential for long-term success in self-publishing. Engaging with readers through author websites, blog posts, newsletters, and virtual events can foster a community around your work. Establishing yourself as an authority in your genre or niche can lead to word-of-mouth referrals and sustained book sales over time.
9. Stock Photography
The stock photography industry offers opportunities for photographers to generate passive income, although it requires adapting to evolving market demands and maintaining high standards of creativity and professionalism.
9.1 Market Dynamics and Competition
The proliferation of digital cameras and accessible editing software has democratized photography, resulting in an influx of images available on stock photography platforms. As a result, photographers face intense competition, driving down earnings per image. Differentiating oneself through niche specialization or unique visual perspectives can enhance marketability and attract discerning buyers seeking distinctive imagery.
9.2 Quality Standards and Licensing
Maintaining high-quality standards in photographic composition, technical execution, and post-processing is crucial for securing sales in a competitive marketplace. Understanding licensing agreements and rights management ensures photographers protect their intellectual property while maximizing revenue potential from licensed image usage across various media platforms and commercial applications.
9.3 Portfolio Diversification and Marketing Strategies
Diversifying your portfolio to include a broad range of subject matter, styles, and themes can broaden your appeal to diverse client demographics and increase sales opportunities. Utilizing effective marketing strategies, such as SEO optimization of image metadata, participation in photography contests and exhibitions, and active engagement on social media platforms, can enhance visibility and attract potential buyers to your portfolio.
10. MLM (Multi-Level Marketing)
Multi-Level Marketing (MLM) presents a business model that promises substantial earnings through a hierarchical network of distributors, but it carries inherent risks and ethical considerations.
10.1 Business Structure and Recruitment Dynamics
MLM companies operate on a tiered structure where distributors earn commissions not only from their sales but also from recruiting new members into their downline. The emphasis on recruitment can overshadow product sales, leading to concerns about sustainability and ethical business practices. Evaluating the legitimacy of MLM opportunities and understanding the recruitment dynamics can help individuals make informed decisions about participation.
10.2 Financial Risk and Investment
Participants in MLM programs often face financial risks associated with upfront investments in product inventory, training materials, and membership fees. The potential for high start-up costs and variable income streams based on sales volume and recruitment success can pose financial challenges, particularly for individuals seeking reliable and predictable income sources.
10.3 Ethical Considerations and Consumer Protection
MLM practices have been scrutinized for their aggressive recruitment tactics, exaggerated income claims, and limited transparency regarding product quality and market viability. Consumer protection agencies and regulatory bodies advise caution when evaluating MLM opportunities, encouraging individuals to research company histories, review compensation plans, and seek independent advice before committing time and financial resources.
Stay Updated
Navigating the online business world requires staying updated with current trends and avoiding outdated methods that no longer yield results. By steering clear of these outdated online business ideas, you can focus your efforts on strategies that offer real potential for growth and income.
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