A study found that 15% of TikTok videos about side hustles were misleading. Young Aussies are drawn to the chance to earn $120,000 a year online. They can do this from their phones through affiliate marketing and drop-shipping.
Career expert Mark Slack says the “easy money” idea on social media is not true. “While some people have made good money, like a Sydney man who earned $30,000, most claims are not real,” Slack said. “Building a successful online business takes hard work and dedication.”
Many Aussies are interested in making money online through affiliate marketing and drop-shipping. They earn commissions or use third-party suppliers for their e-commerce. But, the study shows the market is getting crowded and competitive.
Major Highlights
- A study found 15% of TikTok videos promoting side hustles contained exaggerated claims
- Successful side hustlers dedicate 10 to 40+ hours per week to their online businesses
- The more people join affiliate marketing and drop-shipping, the harder it is to stand out
- Persistence, adaptability, creativity and differentiation are key factors for success
- Experts caution against the “easy money” mindset and encourage a realistic approach
The Truth Behind $120,000 a year side hustle Claims on Social Media
Social media is full of big claims about side gigs. Jay Wey, a social media influencer, is said to make $120,000 a year. But, it’s important to know the real story behind these claims.
Understanding Affiliate Marketing vs Drop-shipping
Affiliate marketing and drop-shipping are popular online ways to make money. Affiliate marketing pays you for promoting other products. Drop-shipping lets you sell items without keeping them in stock. Both can lead to financial freedom, but success is harder than it looks on social media.
Real Success Stories and Income Claims
Sophia Lee, a blogger, went from $10,000 to $120,000 a month. But, her success took years of hard work, learning, and building her business.
“The ‘easy money’ mindset is a dangerous trap,” warns entrepreneur Taylor Reilly, who made $70,000 in just 28 days through his online ventures. “It takes real effort, innovation, and patience to build a sustainable high-paying side gig.”
Market Saturation and Competition Challenges
More Aussies are trying online side hustles, making the market crowded. “The competition from retail giants and reliance on third-party suppliers can be overwhelming,” explains Zali Gillings, a successful Australian drop-shipper. “Thorough market research is key to finding new product niches and staying ahead.”
The truth is, making $120,000 a year from side hustles is rare. It takes a lot of time, effort, and planning. Aspiring entrepreneurs need to be realistic and understand the challenges of the market. They must be innovative and persistent to achieve financial freedom through scalable side hustles.
Critical Factors for Success in Online Side Hustles
More Aussies are looking into online side hustles to earn extra money. They want to enjoy the remote work lifestyle and have recurring revenue streams. But, success in online side hustles needs hard work, creativity, and a smart plan.
People starting online side hustles must be ready to put in a lot of time. They need to spend 10-40 hours a week or more. It’s also important to keep learning, stay updated with trends, and find unique areas to work in.
Being persistent, even when things don’t go as planned, is key. Many successful side hustlers tried different things before finding what worked for them.
Those who earn a lot from side hustles often invest in good resources and get advice from mentors. This helps them give better service and use new marketing ideas. They also keep learning and improving their work to stay ahead.
- Start small and test different strategies to find what works best
- Learn from reliable sources and continuously develop your skills
- Offer exceptional customer experiences and use creative marketing
- Embrace a mindset of persistence and adaptability
By focusing on these key points, Aussies can boost their chances of making it big in online side hustles. They can earn more and enjoy the perks of working from home.
“The key to a thriving online side hustle is constant learning, innovation, and a willingness to put in the hard work. It’s not a get-rich-quick scheme, but with the right approach, it can provide a significant boost to your financial well-being.”
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Expert Warnings and Reality Check for Aspiring Online Entrepreneurs
Many Aussies dream of financial freedom and starting their own business. But experts warn about the unrealistic hopes in affiliate marketing and drop-shipping. These online jobs might look easy, but they need real effort and research.
Mark Slack, a top business coach, says to watch out for easy money claims on TikTok. “Building a lasting online business needs dedication, patience, and a desire to learn,” he says. “Thinking you’ll make a lot of money quickly from social media is not true.”
Experts stress the need to stay informed and cautious. They say to be ready for a long-term effort, not just quick cash. “Too many Aussies get excited and then feel let down when they don’t get the results they hoped for,” Slack warns. “It’s important to understand the challenges and be ready to work hard for success.”
