There has been a lot of talk lately about “side hustles” UBER has run commercials talking about everyone needing a side hustle.
Marketwatch published an article about side hustles and included buying and selling domain names.
Buying and selling domain names
Domain names are the internet equivalent of real estate and, much like with homes, savvy consumers stand to make big bucks out of flipping them. Grant Sabatier, the founder of the website Millennial Money, who said he became a millionaire largely through various side hustles he developed over the years, has made more than $140,000 through domain reselling.
Sites like GoDaddy and Sedo have auction-based marketplaces for existing domains. Unlike flipping real estate, buying and selling domains does not require a lot of cash up front. In one case, he said he bought a web address for $40 through an auction and ended up selling it to a restaurant with the same name for $5,000. “The vast majority of domains are sold on the secondary market,” he said.
The technology boom in countries like China is helping to keep the market for these names afloat, along with the introduction of new domain extensions such as “.luxury” or “.xyz,” according to CNBC. Sites like Estibot.com and GoDaddy can appraise a domain name to help determine how much of a money-maker it can be.
INC published an article about employees with a side hustle make better employees.
Entrepreneurial Employees Make the Best Workers
Self-starting, innovative and proactive workers help a company to thrive. These traits are generally what employers are looking for in qualified applicants. Given that side hustlers often experience challenges of running their own business, they are problem-solvers and a real asset to any type of business in any industry.