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☆ I run a 7-figure online business and half my sales come from TikTok. Here's how I'm preparing for the worst if the app gets banned.
▼ + stars: | 2024-06-19 | by ( Krista Krumina | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a conversation with Mason Kuhr, a 25-year-old business owner living in the US, about the potential TikTok ban. I'm skeptical about a TikTok ban in the US. But if it were to happen, I estimate that my $3.8 million business would be cut by half. Last year, I made $3.8 million in sales, with a third from TikTokMy company's revenue is evenly split between TikTok Shop, Amazon, and Shopify store sales. If you're freaking out about the TikTok ban, I'd suggest you choose a back-up platform and start to make yourself familiar with its users.

Persons: —, Mason Kuhr, I've, I'd, TikTok, doesn't, They've, I'm Organizations: Service, Business, The Stampede Network, TikTok, Stampede, YouTube

☆ Meet WiFi Money: Wealthy Finance Influencers Who Infuriated Investors
▼ + stars: | 2024-05-19 | by ( Rob Price | ) www.businessinsider.com time to read: +26 min

The Texas couple were staring down more than $100,000 in debt, much of which they had poured into WiFi Money. Those who give their money to WiFi Money are often encouraged to sign up other people in return for a cut of their profits — and perhaps, one day, a chance to become part of the WiFi Money crew. As the money poured in, WiFi Money gained a patina of mainstream credibility. AdvertisementThrough WiFi Money, Moeller and Frederick had created a virtuous cycle of money and influence. The same month investors took WiFi Money to court over the stores, DBC announced it was closing down.

Persons: Alex Moeller, influencer, Jasmine Sadry, Joey Martin, Martin, Moeller, Chris Frederick, Casa Moeller Martinez, MentorCI, Kim Kardashians, Gary Vee, Uber, Etsy, Farnaz Ghaedipour, Frederick, Jay Gatsby, Scott Fitzgerald's, Brandon Celi, There's, Billy, Chris Casey, There's Todd Cahill, Liz Friesen, Tana Mongeau, Kardashian, —, James Ragano, BI Moeller, wouldn't, Kyle McDougal, Sadry, Kyncey, McDougal, hustlers, Kevin O'Leary, Jordan Belfort, Ronaldinho, Glenn Beck, I've, he'd, Daemon, I'm, they'd, It's, Chris Costello, Francis, Ashley, Costello, Gatsby, Casey, Avery Williamson, Victor Bermudez, DBC, They're, Instagram, Rolex Submariner Organizations: WiFi, Lamborghini, McLaren, Fox News, YouTube, Invest, Stanford University, PBS, BI, Social, Yahoo Finance, Business, Times, Piccadilly Circus, Fort, DMs, Kyncey Investments, Amazon, Kyncey, Investors, CNN, Fox Business, Big Tech, Florida Tropics Soccer Club, Royce, WiFi Money, Federal Trade Commission, WifiMoney, IRS, NFL, Dallas, Rolex Locations: Instagram, Mexico, Texas, Dallas, Quito, Ecuador, @amoeller, Florida, pecs, Maryland, Europe, Illinois, Mita, Burj, Fort Worth, dropshipping, Brazilian, New York City, ensconced, Minnesota, Los Angeles, Munich

☆ 35-year-old making $11,400 a week in passive income: The No. 1 thing that helps me build lucrative side hustles
▼ + stars: | 2024-05-02 | by ( Megan Sauer | ) www.cnbc.com time to read: +2 min

Life was otherwise good: It was 2016, and Hogue sat next to his best friend every day at his senior web development job. He was making $117,300 per year, but driving back and forth felt like a waste of time and money, he says. Last year, Hogue made over $1,600 a day, or roughly $11,400 per week, according to documents reviewed by CNBC Make It. Winning that game each day helped keep him from quitting before his business turned profitable, he says. "The dollars-per-day [mindset] helps you understand what your time is worth," Hogue now tells Make It.

Persons: Ryan Hogue, Hogue, he'd Organizations: George Madison University, CNBC Locations: Virginia, Fairfax , Virginia

☆ I quit my 9-to-5 to start an Etsy store that made $510,000 in 2 1/2 years. It meant I could homeschool my daughter while working an hour a day.
▼ + stars: | 2024-01-24 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +5 min

I didn't do enough research for my Etsy store at firstI started my store in July 2021 and connected it to Printify, a print-on-demand site. Working on my Etsy store meant I could homeschool them in 2021 for a year. Since I started my Etsy store in July 2021, I've made $510,500 in sales. AdvertisementI started my own Shopify storeIt's always a good idea to diversify if Etsy changes its algorithm, affecting your store. After that, I decided to focus more on the Shopify store I'd set up the previous summer.

Persons: —, Gina Van De Voorde, Yee, I've Organizations: Service, Business Locations: Fort Collins , Colorado, dropshipping

☆ 5 low-lift side hustles to start in 2024 that take only a few hours a week
▼ + stars: | 2024-01-02 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

They shared how they made an additional income from their side hustles while keeping the hours they spent on them to a minimum. He said he decided to sell products on Amazon FBA because it required minimal upfront costs. Alistor spent about 20 hours a week working on his side hustle alongside his 9-to-5 for two years. AdvertisementBut when he was laid off during the COVID-19 pandemic, he began spending 50 hours a week on the business. In 2023, Alistor decided to reduce the hours he spent on his business to 10 hours a week.

Persons: —, Desiree Sandison, Sandison, Heather Johnson, Johnson, I'd, Ben Alistor, Alistor, Seth Sutherland, Sutherland, cohosting, Gaurav Shrishrimal, Shrishrimal Organizations: Service, Business, hustles, Amazon Locations: I'd, Etsy, Reykjavík, Iceland, India

☆ HustleGPT: Generative AI will boost income and help millions of workers take on second and third jobs, Morgan Stanley predicts.
▼ + stars: | 2023-09-20 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

Generative AI is making it easier to work multiple jobs at the same time. AI tools will lift earnings from multiple jobs by at least $83 billion by 2030, Morgan Stanley says. They forecast $400 billion in income from multiple jobs by 2030, with generative AI contributing about $83 billion of that. Morgan Stanley noted a 14% lift in call center productivity and a 55% boost for writing code, as examples. In content creation and e-commerce, 37% and 34% of respondents respectively said their income had been boosted with the help of generative AI tools.

Persons: Morgan Stanley, AlphaWise, Morgan Stanley Research There's, Bard, Claude, Morgan Organizations: Service, Morgan Stanley Research, Google Locations: Wall, Silicon, India, OpenAI, Anthropic

The case is the latest example of the Federal Trade Commission cracking down on deceptive e-commerce consultancies that target consumers and fledgling online businesses. The Cresto brothers also took 35% of any profits from their "partners'" e-commerce stores, the complaint says. The suspensions left Empire's clients deeply in debt, the FTC alleged, "because Empire typically had its clients pay for inventory on credit cards." The scheme is ongoing and defrauding consumers of tens of thousands of dollars, according to the FTC. Amazon and Walmart did not immediately respond to CNBC's requests for comment.

Persons: John, Roman Cresto, Ecommerce Organizations: Amazon, Walmart, Federal Trade Commission, FTC, Southern, Southern District of Locations: U.S, Southern District, Southern District of California, Italy

☆ I'm a user-generated-content creator who gets paid to stay in Airbnbs. Here's how I got started and pitched myself to Airbnb hosts.
▼ + stars: | 2023-06-14 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +7 min

Hope's clients have included hosts of Airbnb properties where she's been paid to stay. I left a $16-an-hour retail job that was making me unhappy and job-hopped until I started working at another retail brand. The client wanted organic content, which included videos of me showing off my phone case and videos showing me using the brand in my day-to-day life. As soon as I'd created the content, I'd send it to them with a watermark, and then they'd send me the other half. I pitched my content services to Airbnb hostsI wanted to travel more but I didn't want to pay to travel.

Persons: Chelsea Hope, she's, Hope, I'd, I've, I'm Organizations: UGC, Twitter Locations: Las Vegas, Las, Sedona , Arizona, Airbnbs, Airbnb

☆ The 5 hardest lessons I learned about passive income before I became a 6-figure entrepreneur
▼ + stars: | 2023-05-17 | by ( Jen Glantz | ) www.businessinsider.com time to read: +7 min

Here are the five things nobody tells you about passive income that you should know before you start. I read about people who were making seven figures a year selling online courses or six figures a year dropshipping. Some passive-income streams require a pre-existing foundationOne of my most profitable sources of passive income comes from affiliate links. Before I expanded into those income streams, I decided to start with one that complimented my existing skillset. Think about the skills you have and then research passive-income streams that can tie into those existing skills.

☆ I've made $730,000 in sales since I started my Etsy shop 3 years ago. Here's how I list my items and choose what to sell.
▼ + stars: | 2023-05-10 | by ( Lola Christina Alao | ) www.businessinsider.com time to read: +5 min

I started my Etsy business in April 2020. I've tried printing on demand for items such as tote bags, shoes, and shower curtains. I quit my job 18 months after starting my Etsy businessIn June 2021, I quit my customer-service job. I now work on my Etsy business full time. I've made $730,000 in revenue from Etsy since I started in March 2020.

☆ A 28-year-old sold over $5 million worth of wallets on Amazon in the last 12 months. He shares the first steps he took and how he went from breaking even to profiting over $100,000 per month.
▼ + stars: | 2023-02-15 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +12 min

Joe Reeves started selling men's wallets on Amazon in 2021 as a way to make some extra side money. In August 2021, Reeves started selling men's wallets on Amazon. Reeves started his e-commerce business shortly after his son was born as a way to supplement his day job income. If you want to sell on Amazon, go into the process knowing that "it's not going to be cheap," he advised. "The more money you're willing to spend on it, the faster it'll blow up."

☆ How 'Real Housewife' Jen Shah's fabulous life came crashing down
▼ + stars: | 2023-01-06 | by ( Stephanie Clifford | ) www.businessinsider.com time to read: +43 min

The woman wrote to the judge overseeing Shah's case that she'd had to remortgage her house, almost divorced, and "thought about ending my own life." The couple decided that he should get his degree while Jen Shah dropped out of college to work. (Shah told a judge at her 2022 plea hearing that she had been treated for "alcohol and depression" two years prior. Koa Johnson, Jen Shah's former fashion designerWhen Sharrieff Shah did participate in filming, he quickly became a fan favorite, calm and sensible. Once the show aired and Jen Shah developed a fan base, her behavior became more dramatic, Johnson said.

☆ This 33-year-old makes $14,600 a month in passive income: 'I just one hour a day’ on my online business
▼ + stars: | 2022-11-09 | by ( Ryan Hogue | ) www.cnbc.com time to read: +4 min

Now he makes $14,000 a month in passive income. Today, at 33, I make an average of $14,600 a month in passive income from my print-on-demand business. Photo: Ryan HogueHow I make passive income through print-on-demandAbout 50% of my passive income comes from Amazon Merch on Demand, where I sell the most items. Amazon Merch sellers earn a royalty fee between 13% and 37%, depending on the product type and listing price. Another platform I use is Printful, which is similar to Amazon Merch on Demand and is an inexpensive way to get my products in front of more people.

☆ This PayPal-backed startup is solving one of the biggest headaches for brands selling online through Walmart, Macy's, or Kroger — getting paid
▼ + stars: | 2022-10-26 | by ( Ben Tobin | ) www.businessinsider.com time to read: +4 min

Cymbio, an Israel-based digital-sales startup, is making it easier for brand clients to get paid instantly when selling on retailer websites like Walmart, Macy's, Nordstrom, and Kroger. These marketplace websites are becoming an increasingly important place for brands to make revenue. Cymbio has launched a new feature for its more than 400 brand clients called Cymbio Finance, which automates payouts for brands selling on retailers' sites. Prior to this financial offering, Cymbio, which was founded in 2014, predominantly focused on providing technical support for brands selling on outside websites. And a key part of that growth is ensuring brands are paid in a timely fashion.

☆ Warehouses and employers like Amazon bring new jobs and higher wages for some blue-collar workers, but they can be hard on cities — and on the human body
▼ + stars: | 2022-10-23 | by ( Matt Turner | Jordan Parker Erb | Hallam Bullock | ) www.businessinsider.com time to read: +4 min

Hi, I'm Matt Turner, the editor in chief of business at Insider. On the agenda today:But first: This week, Insider launched an ambitious new package, Warehouse Nation, which investigates how the warehousing boom has shaped the US. Deputy editor Jake Swearingen is here to take us inside the project. Kathy Willens/AP PhotoThe US economy's post-pandemic party is over, so get ready to endure the mother of all hangovers. We outlined the winners and losers in Solomon's latest reorg, and what that might mean for the bank's future performance.

☆ Influencers Are Getting Rich by Hawking Dubious Financial Advice
▼ + stars: | 2022-10-18 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

On TikTok and YouTube, "passive income" side-hustles have skyrocketed in popularity. On TikTok and YouTube, influencers are getting rich while spreading dubious financial advice for how to make money fast — and failing to give viewers a full picture of the risks involved. Followers can make hundreds — if not thousands — of dollars in passive income by renting out property, day-trading, or dropshipping, influencers say. Instead, creators sell courses that promise to teach people how earn money through passive income — helping them get rich while selling the dream of easy cash. These financial influencers are drawing in a lot of young people: A recent survey found that 34% of Gen Z consumers obtain financial advice from TikTok, while only 24% of this age group seek advice from financial advisors.

☆ 'Making $10k a month is not that hard': How TikTok influencers are luring followers with deceptive promises of side-hustle riches
▼ + stars: | 2022-10-17 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

And some of the dollar amounts passive-income influencers are touting in their posts are eye-popping. Even when the stakes are somewhat lower, passive-income influencers fail to give viewers the full picture. While this method cuts out some of the upfront costs, making money on digital products is still incredibly difficult. Making money as an entrepreneur takes hard work, skill, and a bit of luck — but that message doesn't sell as well. What does sell is the new American dream of making money in your sleep — and side-hustle promoters are more than happy to keep selling it.

Passive income is a way to accumulate money without working around the clock. Here are 9 options for passive income, including YouTube, dropshipping, and downloadable templates. For entrepreneurs, passive income can provide more flexibility and time to focus on other business ventures while still earning cash. In September the e-commerce platform Shopify released its list of 30 ways to earn passive income and build wealth. From selling online courses to building YouTube channels, here are 9 ways business owners can make passive income to supplement their earnings.

Having a full and realistic estimate of your monthly expenses is key before quitting a job. AdvertisementQutting a full-time job without having another one lined up may seem like a risky thing to do. She divides her budgeting spreadsheet into five main areas: income, required expenses, discretionary expenses, annual expenses, and surplus or savings. Start small and watch your retirement fund grow over time. For one, having alternative income streams such as freelancing or dividend-paying investments can help boost your savings and increase your retirement fund.

Persons: —, Deborah L, Meyer, Loudenback, you've Organizations: Service, Quicken

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