Is This Etsy Side Hustle the Best to Get Into in 2024?
In this video, Matt reacts to a video suggesting that the best side hustle to get into in 2024, and has been the best of all of the 2020s, is Etsy. As he does with many of these ideas he debunks the idea but gives some tips on how you would make it work if you’re passionate about the idea.
There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!
Video Transcript:
Business Advice Video:
The most underrated side hustle of 2024. It’s not TikTok. It’s not Instagram. It’s selling digital products on Etsy. By far the most lucrative and most underrated side hustle of the 2020s. Once you create the digital products, you open up a store on Etsy, create your products with relevant keywords, so potential buyers can find your products. So if you want to learn more, join my free Etsy masterclass in my bio to learn how you can start selling digital products on Etsy.
Matt’s Review:
Okay, that seems like kind of a stretch to say that that is the most lucrative way to make money in 2020 and then 2020s. Etsy might have 90 million active buyers, but my impression of Etsy is that the vast majority of them are looking for physical products, not digital products. so of the 90 million people on there how many are looking for digital-only products? Maybe a few percent. So we’re down to a million or two. Which is still not a small number, but it’s not the 90 million. And then from there though, how many other digital products are you competing with? Aside from this guy, obviously, who’s creating digital products. But my guess is because digital products only take a little bit of time, or can only take a little time, and no cost to create, that market is already flooded with digital products. Art, and journals, and spreadsheets, and all kinds of other products that you can buy from 17 other sellers already identical to yours and charging less than you were hoping to charge, to begin with. So yes, it doesn’t cost much to do but I also would not expect that there is a huge opportunity there. Which may be why this guy instead of keeping it to himself and making millions selling digital products on Etsy, is instead pitching his course on how to make money on Etsy. Because selling a course to people is much more lucrative than doing the actual thing the course is trying to tell you how to do. So just a guess. But probably a pretty well-educated, pretty accurate one.
