What are some of the best fully automated self-working online side hustles? For example, an E-commerce store for drop-shipping?

Side Hustles

What are some of the best fully automated self-working online side hustles? For example, an E-commerce store for dropshipping?

Side hustles are just what they sound like….side hustles. e-commerce dropship stores are okay but make you little to no money and you have to work at it. Therefore If you really want to make any meaningful money like $1,000 a month? There is no side hustle I know without putting in huge effort to make little money. So If there was an easy way to make even $1,000 a month I would have found it. YouTube heads will tell you how easy it is, think again.

I’m sorry to say I see only one clear path to making money from home using e-commerce. The following is my blog post on how I made millions online.

Here are the Quora question and my answer.

If the best investments only get you 10-15% returns a year, how do people become rich from investing?

Simple question but you’ll not get the answer because the answers are not from rich people like me. So I Made millions creating my own businesses. If you add money over the next 40 years every month to the Vanguard 500 and get an average return of let’s say 8%, you can check past performances, then take away 2% for inflation then in 40 years you’ll have some money but it’s a slow grind out.


Compounding is a slick answer but doesn’t take into consideration drops where your portfolio goes to zero after 5 to 10 years? So you’re humming along at 8%, maybe 10% then bang! 2008 lands and you go off the cliff. Then bang 2020 lands and your portfolio drops 50%.

Do you panic like most people and sell out? Or do you have the temperament, like Warren Buffet and his sidekick Charlie Munger say, and ride it out? 99% of the people do not have the right temperament. I am a millionaire and I don’t have the temperament. So I bet too small like in 2008 and 2020. I buy Tesla and then sell it too early. And I bet too small on Amazon at $20, then sell out on the way up.

Fastest Way to Wealth

The fastest way is to create your own business online today. I made 67K my first month, 100K my second in asset recovery. I’ll paste a blog post on here giving you details on how to do it.

It amazes me no one ever asks these questions because this really is the question to ask.

Then take a percentage of your profits from your business and buy real estate and public companies. My return in the stock market this year is 50%. 2020, about 65% but it was small money, like $50,000. Businesses net me over $250,000 in 2020, down from 335K in 2019, My real estate in 7 properties increased in value by about $300,000. That’s in 1 year. It adds up fast if you save and reinvest in your own business, taking out maybe 25% to invest elsewhere.

Here is one of the blogs on my asset recovery business and how you can set one up for very little money.

Bottom Line

Bottom line. You can get rich over 40 years or more if you’re making big money but you’ll see down years where your portfolio will dip 50%. Charlie Munger the billionaire partner of Warren Buffets says it has happened to them several times. You’ll have to be able to handle those losses. Not many can and panic then liquidate.

Compounding is great if your compounding meaningful numbers over many years like putting away a thousand a month. But who can compound out at a big rate? Not many, so your rate of return needs to be big.

Buffet says

Even Billionaire Buffet had trouble making big money and needed millions to get a meaningful return for himself and his investors. He had 7 funds of about $500K to start with, about 3 Million or more in today’s dollars. Had to keep looking for investors. So if the 4th richest man had trouble when it was a lot easier to make money in the 50s and 60s by his own admission, then how can you and I? Not happening.

Thanks for asking this question. It shows you’re on the right track. And it’s easier than people think. The problem is the world has somehow convinced us that it’s easy to do and you can do this passively? Think again.

Mike Addis

Here’s my answer to a Quora question.

Is it easy to make a business or is it hard for you? Why and why not?: E-commerce store

The following is my answer to this QUORA question. Quora is a place to gain and share knowledge. It’s a platform to ask questions and connect with people who contribute unique insights and quality answers.

It’s easier now than ever before to make a business. In fact, I can create a business in minutes because of all the support from internet marketplaces.

Here are the reasons: Is it easy to make a business or is it hard for you?: E-commerce store

  1. Millions of people view the e-commerce platforms like eBay, Amazon, Walmart, Facebook, and Etsy to buy products online.
  2. Just list any products you want to sell on these platforms. Can be new or used products.
  3. Used products sell maybe 3 X more than new. So it’s easy to just list used products. Don’t need to sell new anymore.
  4. You can sell wholesale or retail online. So if you want to have multiple eBay stores, which I have, then you can make one wholesale the other retail.
  5. Dropship products from hundreds of wholesalers and or manufacturers. You don’t need to buy and sell anything. Just list products from Costco and or Sams Club and direct ship to your buyers.

Don’t need cash: Is it easy to make a business or is it hard for you?: E-commerce store

  1. You don’t need cash just products to sell. Can be a service too. Products can be listed from consignments. Many companies want space so they will give you their products on consignment to sell. Start small with family and friends and consign their stuff.
  2. A service business is easy too. Just list your service business on Upwork or Fiverr. There are ten other portals you can list your service on too.
  3. You can begin an investment company with $500 using crowdfunding platforms for real estate investing like Fundraise and Crowdstreet. There are many to choose from too like Farmfundr for farming Real Estate investing.
  4. Write books and post blogs. These are income producers too. I do YouTube videos, write books and blogs. You can then promote on Adsense and make money from that. Takes a bit longer but it’s now easy to write content and publish e-books through Amazon. WordPress is my choice for blogging.
  5. Home-based business. All my businesses are run from my home. I have an office and converted garage for storage. If I need storage space I have two huge warehouses I pay, if or when I use them. So the need for office space is over. I worked from a one-bedroom apartment years ago at my kitchen table and made $100,000 a month income.

Outsource almost everything: Is it easy to make a business or is it hard for you?: E-commerce store

  1. It’s easier today because I outsource everything from webpage design, SEO (search engine optimizer) work, video editing, accounting, bookkeeping, and book editing to name a few. I use Fivrre and Upwork to find the best people, some have been with me now for almost a year.
  2. Warehouse space is easy too. I use warehouse space if my purchases include several pallets of products or truckload. So the product is shipped to my warehouse and then inventoried and broken down. I can even ship to Amazon’s FBA program where they do all the fulfillment. Just ship it to them and list the products for sale. They do all the work. I just buy and list products. All from home.
  3. My banking is done online. Loans are obtained online from home. So if I need capital to expand I use Paypal or any one of my big banks. No longer have to go to the location and sit to apply. I get PayPal money in less than 10 seconds. No kidding, 10 seconds.
  4. Here’s a list of online teaching platforms if you want to teach people what you know.

eLearning Platforms To Use For Online Courses: Is it easy to make a business or is it hard for you?

  1. Udemy. Udemy firmly believes in disrupting and democratizing the educational ecosystem by allowing anyone and everyone to learn from its pool of more than 20000 Subject Matter Experts. …
  2. Teachable. …
  3. WizIQ. …
  4. Ruzuku. …
  5. Education. …
  6. LearnWorlds. …
  7. Thinkific. …
  8. Academy Of Mine.

With all these things that make it easier to make a business the same day, what is the why not the easier side of the equation? The simple answer is if it’s easier there is usually more competition. The more competition you have the less profit you’ll make.

So if the dropshipping product is easy to start from home, then many people will start one. But the 80/20 rule applies no matter what business you’re in.

80/20 Rule: Is it easy to make a business or is it hard for you?: An E-commerce store

The 80-20 rule, also known as the Pareto Principle, is an aphorism that asserts that 80% of outcomes (or outputs) result from 20% of all causes (or inputs) for any given event. In business, a goal of the 80-20 rule is to identify inputs that are potentially the most productive and make them the priority.

In the above rule, you can note that 80% of the people do not make money in their business. The money income comes from the 20% that do. I say it’s less than 5%. Therefore your competition comes from less than 5% of the people who compete against you in the marketplace.

Conclusion: E-commerce store

But that shouldn’t be a deterrent. The same hard work and focus apply to starting a profitable business. That never changes no matter how easy it is to make a business. In today’s world, it is very easy to make a business. And make money at it too.

Mike Addis

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