Richard

At some point, everyone needs a little extra money. Maybe you need to pay essential bills or cover a surprise expense. Your dog gets sick, your roof starts leaking, you’re closing on a new home — the scenarios are endless, but the situation is common: You need money fast.

Waiting for a traditional pay cycle might not always be possible, and thankfully, there are ways to make money quickly, efficiently and (most importantly) legally. As you embark on these side hustles, staying on top of necessary taxes is essential. The following insights, ideas and advice can set you on a path toward fast cash and new revenue streams.

12 side hustles to make quick cash

1. Sell your things on eBay, Craigslist or Facebook Marketplace

If you want to make money quickly, sell the things you already have: old clothes, electronics, collectibles, books and other knick knacks taking up space in your garage or attic. You might consider a yard sale or garage sale to declutter your storage space; however, with the internet you can quickly sell those things online on platforms like eBay, Poshmark, Craigslist, Etsy or Facebook Marketplace. Remember, you might need to ship items to their buyers. Those shipping fees can eat into your overall profit, so do the math before accepting any offers.

• Time to set up: A few hours
• Time to make money: Days or weeks
• Requirements: Account on the selling platform of your choice (Ebay, Facebook Marketplace, etc.), valuable goods

Related: 18 Ways You Can make money Right Now

2. Take online surveys

Taking online surveys can make you money in hours — or even minutes. Sites like Survey Junkie and Swagbucks allow people to join their programs, then take surveys in exchange for cash prizes or gift cards. The upside is that by completing a handful of surveys, you’ll soon have some spending cash in your pocket. The downside? It’s not much money — a couple dollars per survey, depending on the platform. It is, however, an easy and mindless way to earn money while multitasking, and all you need is a smart phone or computer — no college degree or elaborate setup necessary.

Most online survey sites pay you cash back bonuses or unused gift cards. Others have “cardcash” systems where you must use the extra income at that site. Keep this in mind, as it could indicate a scam or prevent you from being able to cash out your money.

• Time to set up: Minutes
• Time to make money: Hours
• Requirements: A computer or smartphone

Related: How Online Surveys in Market Research are Driving Change

3. Pursue side gigs on freelance sites

Freelance websites like Upwork and Fiverr are job posting boards. If you have a skill you can translate into freelance labor, such as programming, graphic design or writing, you can use these sites to find freelance gigs and earn money quickly. The setup is easy: Make an account, then bid on available jobs from prospective clients. If you’re chosen, complete the work to the client’s specifications and get paid. Do a good enough job, and you’ll earn a positive reputation, leading to more work.

The most successful freelancers do it as their primary career, earning decent incomes while enjoying the freedom and flexibility of working on their own schedules. And depending on your niche, you can develop online courses, land gigs as a virtual assistant or become a regular contributor for online publications.

• Time to set up: Hours
• Time to make money: Days
• Requirements: Skills and qualifications for freelance work, a computer, any necessary software

Related: Freelance Writer – Entrepreneur

4. Pet sitting and dog walking

Apps like Rover and Wag provide excellent opportunities to make money fast, particularly if you’re an animal lover. By pet sitting and dog walking, you can earn income in less than a day. Make a profile, add photos of you and some furry friends and start booking clients. Depending on your availability, you can opt to walk dogs during the day, in the evening or whenever clients need you.

These services also provide opportunities to look after pets (generally cats and dogs) for extended stays — when owners go on vacation or are handling an emergency, for example. Remember, though, it might take time and successful jobs as a pet sitter before you can start making a good amount of money.

• Time to set up: Hours
• Time to make money: Hours
• Requirements: Pet sitter app, a smartphone, pet supplies (such as leashes and bowls), a love for animals

Related: 7 Quick Ways to make money Investing $1,000

5. Babysitting

Babysitting can be just as rewarding as pet sitting and just as profitable, if not more so. The big difference? In most cases, parents vet their babysitters much more carefully than their pet sitters. Because of this, you can’t rely on an app like Rover for babysitting. Instead, you’ll need to develop a reputation as a trusted sitter in your area, then apply to job boards, like Care.com, or get referrals from your current clients. It might take some time to build up a client base, but once you do the money comes quickly: Many parents require fast babysitting solutions on short notice (if there’s a family emergency, for example).

If you keep your schedule open, you can respond to those babysitting requests as soon as they pop up, making some extra cash for playing with kids, feeding them meals, taking them on walks or to the playground and making sure they go to bed on time. The right temperament (patient but energetic, fun-loving but firm) is essential for success in this field.

• Time to set up: Days
• Time to make money: Varies
• Requirements: A mobile phone, good communication skills, patience, fondness for kids

6. Become a tutor

Whether you’re a math whiz or grammar aficionado, you can help local students with schoolwork as a tutor. Start by reaching out to your own network — family, friends, colleagues, neighbors — to gauge demand and find early clients. Maybe it’s your eighth-grade neighbor struggling with pre-algebra or a family friend studying for the ACT. Your classroom knowledge can help them learn new concepts and test-taking strategies.

You can also join online tutoring platforms, such as Chugg Tutors or Tutor.com, and teach students from your own home, on your own time. These sites take a cut of your earnings, so while they do provide added flexibility, they can be less profitable for tutors.

• Time to set up: A few days
• Time to make money: Hours
• Requirements: Good grades, subject-specific expertise, a laptop

7. Host guests on Airbnb

Airbnb is a popular app for homeowners and investors — and for good reason. It allows them to rent out real estate they don’t use and provide travelers a place to stay. Maybe your apartment has a free bedroom or you own a second property where no one lives. Take some nice photos of the space, list your house rules and start booking guests to earn passive income.

Airbnb hosting isn’t without its struggles and potential pitfalls, however. You need to prepare the property for guests and provide a clean, safe and comfortable space for them. This means having everything on hand for a nice stay: bath towels, shampoo and body wash, coffee, clean bedsheets, etc. Be sure to check local zoning laws, too, as localities have increasingly clamped down on short-term rentals.

• Time to set up: Days
• Time to make money: Varies
• Requirements: Second home or spare room to rent, Airbnb account, extra home supplies to ensure a comfortable stay for guests

Related: Top 10 Home Business Ideas

8. Drive delivery

Delivery driving is one of the easier and more attractive side gigs because it relies on owning just two things: a vehicle and a smartphone. When you become a delivery driver, you can work for many different rideshare and food delivery apps — such as Lyft, Uber Eats, Instacart and DoorDash — and earn money any hour of the day.

You’ll drive to and from restaurants, drop off food and accept new jobs on the app. This does take time to set up, however, as joining these companies is a fairly traditional process. You should expect to submit a resume, sit through an interview and submit to a background check. That could take several weeks to complete, so don’t expect to become a delivery driver in a single day if you need cash fast.

• Time to set up: Weeks
• Time to make money: Hourly, once employed
• Requirements: A car, a smartphone, good communication skills

Related: 44 Side Hustle Ideas to Make Extra Money in 2023

9. Do odd jobs

There’s a good chance people in your local community need a variety of services, including home repairs, grocery shopping for elderly people, groundskeeping, yard work, housecleaning, house sitting, furniture repair, junk removal or snow shoveling. Many of these jobs are just waiting for an appropriately skilled (or equipped) person to come and tackle them. You can be that person.

Advertise around the neighborhood and sign up for Taskrabbit, an app for home service bookings — anything from mounting a TV to deep-cleaning a home. Doing odd jobs is an excellent way to earn money quickly, because most of them pay you as soon as the job is done. Given that most of these tasks can be completed in a matter of hours, if not sooner, you can make quick money in no time.

• Time to set up: Hours
• Time to make money: Hours
• Requirements: Handyman skills, tools, an app profile

10. Open a mobile car wash service

This easy-to-set-up side hustle is the fastest-growing in the U.S., according to new data from SideHustles.com. It capitalizes on customers’ growing desire for someone to come to their home rather than traveling to a brick-and-mortar car wash. You’ll need a car or other form of transportation to get to clients’ houses, and you’ll also need to purchase car-cleaning supplies such as a cordless vacuum, microfiber cloths, leather shampoo and more.

Before you finalize each client’s booking, ensure there is a source of water, such as a hose, at their home. Also, ensure you have a power source for plugging in a vacuum if needed.

• Time to set up: Weeks
• Time to make money: Varies
• Requirements: A form of transportation, a smartphone and car-cleaning supplies

11. Become a virtual assistant

If you want to work flexible hours from home, consider starting a business as a virtual assistant. The little-to-no-experience-required side hustle pays around $26 an hour on average, but if you build up a solid network of clients, you could make six figures. Hannah Dixon, who founded the VA training resource Digital Nomad Kit, has smart advice for anyone looking to get involved: Develop an entrepreneurial mindset, specialize in certain tasks to command higher rates, create a killer online portfolio, do VA-specific networking and be an “innovator” VA, not just an “executor” VA. Read all of her tips here.

• Time to set up: Days
• Time to make money: Varies
• Requirements: Laptop, smartphone, strong organizational skills, task-specific expertise

12. Clean houses

Housecleaning is always in demand, and it doesn’t require much experience. According to recent research from NetCredit, you could make nearly $20 an hour doing this task. Once you develop a strong relationship with initial clients, referrals will come pouring in. This will help you build a strong customer base — and maybe even bring on employees of your own. To get started, you’ll need to stock up on cleaning supplies and have a method of transportation to get to clients’ houses.

• Time to set up: Days
• Time to make money: Varies
• Requirements: A form of transportation, cleaning supplies

How to handle taxes and side hustle income

Before you start hustling for fast money, it’s vital to stay on top of your tax responsibilities. The last thing you want is a massive bill come April, so setting aside money throughout the year is essential. There are both income and self-employment taxes to consider, and it’s wise to consult with a tax professional.

Do you need to pay taxes on side hustle income?

In short, yes. According to the IRS, self-employed individuals are required to file an annual return and pay estimated quarterly taxes if they make more than $400. If you’re making any significant side hustle cash, you’ll have to pay taxes on that income. Many full-time employers deduct taxes before checks ever hit your bank account, but as a freelancer or self-employed worker, your clients will almost never withhold federal income taxes. That means you’re on the hook for that money.

How do I set aside money for taxes?

One easy way to avoid a surprise tax bill is to set up a savings account and set aside taxes as you make the money. Do this through your preferred bank, and use this account solely for tax purposes. Otherwise, leave it alone.

How much should I put in my tax savings account?

As a general rule, it’s safe to put somewhere between 25% and 35% of your side hustle income into this tax savings account. This should cover income taxes, in addition to the self-employment tax, a 15.3% tax that covers Social Security and Medicare costs. You’ll most likely be paying taxes quarterly, so keep this account flush with enough money to cover those.

What about side hustle expenses?

The nice thing about being self-employed is your ability to expense business-related costs that you can write off for taxable income. An easy way to keep track of this is by setting up a checking account, using it only for expenses. This keeps business costs separate from personal purchases, so when it comes time to file, you can easily add up your expenses and deduct it from your annual income.

The stock market is experiencing a second day of precipitous loss following Donald Trump’s announcement of reciprocal tariffs. Per the Wall Street Journal, major U.S. indexes all dropped more than 3% in today’s morning trading, with the Dow dropping 1400 points. European stocks fell more than 4%.

Though it seems like a good reason to panic, Berkshire Hathaway Chairman and CEO Warren Buffett would advise against it. While the Oracle of Omaha has called tariffs “an act of war,” he has spoken and written extensively about finding opportunity in tumultuous times.

Related: Warren Buffett Is Still Living Up to His ‘Oracle’ Nickname

In his 2017 letter to shareholders, Buffett wrote: “There is simply no telling how far stocks can fall in a short period,” adding, “When major declines occur, however, they offer extraordinary opportunities to those who are not handicapped by debt.”

He went on to encourage shareholders to take in the message from a few lines of Rudyard Kipling’s poem “If,”:

If you can keep your head when all about you are losing theirs…

If you can wait and not be tired by waiting…

If you can think – and not make thoughts your aim…

If you can trust yourself when all men doubt you…

Yours is the Earth and everything that’s in it.

Buffett referenced his investment tactics during the Great Recession of 2008, and his now-classic op-ed for The New York Times, “Buy American. I am.”

In that column, Buffett outlined his investing philosophy, explaining, “A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful.”

AI burst out of the labs in 2022, and by now, just about everybody has heard of it. AI has also progressed exponentially in the last three years. Experts have said that within a few years, AI will affect everything from healthcare to brainstorming and beyond. They have also declared that we are entering an era that will affect humanity like nothing before it.

If you don’t employ AI soon in your business, you may not be able to compete. But how do you begin? The following case study is about my experience installing AI in a small business. The objective of the project is to increase the value of the company so it can be in a position to sell. We decided to employ AI to accomplish this.

Related: 3 Ways to Prepare Your Business For an AI Future

A classic case of treating business ownership as a job

The company is a small wholesale produce company. It is a third-generation company, and it has a good brand and reputation.

The business owner has been working nights in the warehouse processing orders for 40 years. He feels that he is the only one who can handle this function because it is so complicated. Problems often arise.

There is a key employee who has been with the company for 15 years, who takes over when the owner goes on vacation.

Our first task was to get the owner out of the warehouse, turn that job over to the key employee and have the owner function as the CEO.

The owner was reluctant to do this as he thought he might lose revenue. He finally made the decision in the fifth month of the project.

The adaptation period

After working nights in the warehouse for 40 years, the owner needed time to adapt not only to his sleeping regimen but also to letting go of his former job. We lost a lot of time employing AI in the company. However, getting the owner out of the warehouse was a huge factor in moving forward.

The owner wanted to start AI-ifying his company with order processing because that clearly was the prime workflow in the company, and he was concerned that someone else had taken over after his 40-year tenure.

Inventory control is a major function in this business. Since the product spoils, it needs to get in and out of inventory as quickly as possible. So, the company had contracted with a third party to handle inventory control about three years before we got involved. We immediately developed a dialogue with the third party, and they were very cooperative. However, the main contact left the company, and there were rumors that the company was in trouble, so we put order processing on hold until we were sure that the third party would remain in business.

Related: Why You Should Incorporate AI into Your Business — and How to Do It the Right Way

The big pivot

Very soon in this holding pattern, we decided to pivot to marketing so we could move forward. If the owner hadn’t been so persistent in requiring order processing as the first to employ AI, we would have started with marketing.

Over 90% of companies employing AI start with marketing. It is quick and easy to implement, and good prompting using ChatGPT can have a huge effect on most of the functions without the need for complex automation. It’s also a gentle way to introduce AI to the employees. They can see it in action without it threatening their jobs.

The first thing we had AI do was to develop a marketing plan specifically for a small wholesale produce company. The plan was initially focused on the customer base, and the first task was to develop a customer survey to determine their feelings about the products and services that they were receiving, as well as their wants and needs going forward.

Another huge problem

We immediately encountered a problem. The company had never done marketing. They have about 200 customers obtained by word of mouth over their 80 years in business. Consequently, they have no CRM with the necessary information to send the survey. They had different lists for different functions, which had different contacts and often no email address — and often the contact they had was not the decision maker.

Two administrative people were assigned to develop the CRM, and they would do that in their spare time. Finally, the owner hired an experienced marketing freelancer to help with the CRM and continue with the marketing effort going forward.

We may need to resend the survey to non-respondents a few times before we get a statistically significant number of respondents for data analysis. We will develop a detailed marketing plan based on the results of the survey analysis.

The rumors about the financial problems of the third party proved false, and when the marketing plan is running smoothly, we will return to applying AI to the order processing workflow.

We will also continue to interview the owner to source data for the training bot and the customer support bot.

Related: AI for the Future: 5 Powerful Reasons Small Businesses Should Jump on Board

What we learned

The takeaway from this case study is basically a lack of preparation to employ AI. But that wasn’t the owner’s fault. He wasn’t expecting AI. It was also an unusual situation where the owner worked in the warehouse for 40 years, and the company had never done any marketing. This is an exaggerated example of an owner working IN the company and not ON the company. If it weren’t for his desire to make his company a valued asset in the marketplace, we wouldn’t have made the progress that we did.

Preparing for AI is basically creating an environment that makes employing AI quick and seamless. The attitude of the staff is critical, as is the documentation of the company workflows that will be AI-ified.

Understanding the importance of preparing for AI can make the difference between success and failure in perhaps the most important business decision you will ever make.

It’s not often you can deliver your team an exciting piece of software at $15 a head. But with this Windows 11 Pro upgrade, you can add a new lifetime license to each PC on your team for just $14.97 (reg. $199). Tap into the enhanced user interface (UI) and improved productivity to bring your team to the operating system that 35.5% of Windows users now choose, according to Neowin.

Turn things over to your ‘copilot’

One of the biggest reasons to opt for a Windows 11 upgrade is to offer your colleagues access to Copilot. This AI assistant can help automate tasks and streamline workflows. Stuck on some code? Ask Copilot to generate a suggestion. Need to outline some upcoming content angles? Ask for some tips to kick writer’s block to the curb. Copilot is the teammate you didn’t realize you were missing.

But it’s not the only new tool for professionals included in Windows 11. You’ll find enhanced productivity tools like snap layouts and virtual desktops to help organize your work in a less cluttered view. Use the boosted search settings to keep track of your files. Access included features like Azure AD, Hyper-V, Windows Sandbox, and Bitlocker device encryption for professional tasks.

Keep all of that important proprietary information locked down with advanced security features, such as supported biometric logins, encrypted authentication, antivirus defenses, and Smart App Control.

Windows 11 Pro is also getting talked up for its improved user interface. The UI is simple. It’s nice to look at and easier to navigate than previous iterations, which means a low learning curve for your work team. You can modify use with widgets. It even supports touchscreen use with compatible hardware. It’s no surprise that more than a third of Windows users have upgraded to 11 with these kinds of perks.

Give your team a boost for just $14.97 per head when you upgrade your PCs to Windows 11 Pro.

StackSocial prices subject to change.

Digital clutter isn’t just an inconvenience for business professionals—it’s a productivity killer. Add in family concerns like kids clicking on unsafe links, privacy breaches, or the overwhelming volume of ads, and your everyday internet use starts to feel more like a minefield.

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With this exclusive offer, you can secure a lifetime of ad-free, malware-protected, privacy-first browsing for just $15.97 (regularly $169.99) using code FAMPLAN—available only through April 27 and only for new users.

While many blockers stop at hiding the occasional banner ad, AdGuard operates on a much deeper level. It not only strips away all the noise from websites and apps—including pop-ups, autoplay videos, and sponsored distractions—but it also protects your entire household’s devices from malicious content and digital snooping, the company says.

And unlike recurring subscription models that sneak up on your budget year after year, this lifetime license is a one-and-done commitment. One payment, permanent peace of mind.

Perhaps most importantly for parents, AdGuard includes built-in parental controls that help you establish a safe digital environment for your kids. Whether they’re using a tablet for homework or a smartphone for messaging, you can breathe a little easier knowing harmful content and sketchy websites won’t slip through.

Built to support Android and iOS, AdGuard delivers broad compatibility and serious value. Whether you’re optimizing your home network or just looking to finally browse in peace, this app simplifies security and makes it effortless to manage across multiple devices (up to nine devices).

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Why this deal is worth it

Digital protection shouldn’t be complicated or expensive—and with AdGuard Family Plan, it’s neither. This one-time offer of just $15.97 gives you and your family lifetime coverage from ads, malware, trackers, and inappropriate content. No subscriptions or surprise fees. Just long-term peace of mind and uninterrupted browsing across nine devices. Whether you’re running a business or managing a household (or both), this deal is a small cost for a big upgrade in digital safety.

Don’t miss getting lifetime access to AdGuard Family for just $15.97 (regularly $169.99) using code FAMPLAN through April 27.

StackSocial prices subject to change.

Have you ever been to your favorite restaurant, ordered the dish you’ve always loved and noticed it just doesn’t taste the same anymore? Maybe they started sourcing cheaper ingredients to cut costs, sacrificing quality for short-term gains. Businesses often make a similar mistake — chasing market trends to maximize profits quickly but sidelining the needs of their clients in the process. This approach might boost short-term revenue, but it rarely leads to sustainable success.

In my experience, prioritizing what our clients and investors are looking for — sometimes even over chasing dollar signs — has led to greater success. Companies that build products and services with investors in mind from the start consistently outperform those that focus primarily on immediate gains.

An investor-centric approach isn’t just ethical — it’s a strategic advantage that fosters trust, drives referrals and lays the groundwork for lasting growth.

Related: If You Want Your Business to Win in the Long-Term, Don’t Take Shortcuts

Why money-driven decisions backfire

Many entrepreneurs fall into the trap of chasing quick wins and closing deals at any cost. This might mean overselling a product’s capabilities or pushing investments that don’t align with an investor’s goals. While these tactics can spike short-term revenue, the long-term costs can be significant: eroded trust, negative word of mouth and a tarnished reputation that’s hard to recover from.

Investors today are more informed than ever. A single bad experience can create a ripple effect of lost opportunities. By focusing on what investors truly need and want — rather than what the market seems to dictate — businesses can build genuine, value-driven relationships that last.

How understanding your clients drives growth

1. Enhanced investor satisfaction

Understanding your investors’ goals and risk tolerance allows you to tailor their investments and portfolio more effectively. When investors feel heard and prioritized, they are far more likely to reinvest. For example, we speak with our investors daily and host regular webinars to gauge their sentiment and understand their evolving needs. This ongoing communication helps us keep in touch with what our investors truly want, keeping us aligned with their goals.

2. Positive referrals and word of mouth

Satisfied investors often become your most powerful advocates. In a world where trust is currency, a referral from a happy investor can be more valuable than any marketing campaign. When you prioritize investors’ best interests, they’re not only more likely to return but also to recommend your business to others. This organic growth is both cost-effective and sustainable.

3. Long-term business success

Building relationships based on trust and transparency pays dividends. A reputation for integrity attracts high-quality investors and partners who value a long-term vision over short-term gains. In contrast, businesses known for prioritizing profits at any cost often struggle to retain clients. The businesses that endure are those that make decisions with their investors’ interests at heart.

Related: Ethics First: Forgoing Quick Wins for Long-Term Venture Success

Integrity as a strategic advantage

Staying true to your investor’s needs isn’t just the right thing to do — it’s also a powerful business strategy. There have been times when I have turned down investors if I felt the deal was not suitable for their short- or long-term goals, prioritizing their success over a quick win.

Transparency in communication, fair dealing and aligning with investors’ goals can create a strong foundation for your brand. Investors who trust you are more likely to stick with you during challenging times, providing a level of stability that businesses built on quick wins can’t match.

On the flip side, I know the worth of my company. Competitors will often take commission reductions if it means closing a deal. We don’t often do that because we understand the value we bring to investors and refuse to compromise on the quality of our services.

In a competitive market, putting integrity and your investors’ interests first isn’t just the right move — it’s a path to long-term success. Business owners who play the long game by building genuine relationships and being transparent can create a business that thrives on trust, loyalty and sustainable growth.

For anyone who’s ever spent hours scrolling through job listings, copying and pasting cover letters, and wondering if their resumé ever made it past an algorithm, there’s a better way. And it doesn’t cost hundreds of dollars a year or require a personal career coach on speed dial.

Right now, you can get a lifetime subscription to a job-search automation platform for just $39 (regularly $599). It’s called LoopCV, and it’s designed to make job hunting far more efficient for individuals and even entire teams.

The traditional job search is exhausting. It’s filled with repetition—searching the same sites daily, uploading resumés over and over, tweaking cover letters just enough to fit the role. LoopCV removes that headache. After a simple setup—just upload your resumé, choose your preferred job type, locations, and salary range—LoopCV goes to work.

It scours more than 30 major job platforms, including LinkedIn, Indeed, Monster, and Glassdoor. Once new, relevant listings are found, it automatically applies on your behalf (up to 300 applications per month), or gives you the option to review them manually. That means fewer late-night application marathons and more time to focus on prepping for interviews or sharpening your skills.

It also finds recruiter contact info and sends personalized emails using pre-built or custom templates. You’ll know when emails are opened and which resumés generate the most attention. That kind of insight gives you the power to adjust your strategy on the fly.

Prefer to run A/B tests on your resume? You can. Want to exclude certain companies or job types? Done. You’re still in control, even when things are automated.

Business owners and managers can also benefit from this. Maybe you’re helping laid-off staff transition into new roles, or mentoring junior employees who are eager for their next step. Offering access to a smart, efficient job-search platform like LoopCV is an easy, budget-friendly way to support their growth and future.

Why this deal is worth it

For just $39, LoopCV offers an automated, intelligent way to handle job applications, recruiter outreach, and job-market insights across 30+ major platforms. With personalized filters, resumé tracking, and the option to apply automatically or manually, it’s a time-saving, results-driven approach to modern job hunting. This one-time purchase saves hours of work and delivers ongoing value. No monthly fees. No fluff. Just smart job searching—for life.

Use it now, use it later—this subscription to LoopCV Premium is yours forever for just $39 (reg. $599).

LoopCV Premium Plan: Lifetime Subscription – $39

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StackSocial prices subject to change.

Patents can be a hidden cost trap for startups. While they seem like a one-time expense, the reality is different.

Filing is just the beginning. A single U.S. patent can exceed $50,000 over its lifetime as legal fees, government fees, international filings and annuities after issuance stack up.

No wonder founders hesitate, questioning the ROI. I’ve seen it firsthand; many are skeptical and unsure if patents are worth the investment. But skipping patents altogether can be even worse:

• A competitor files first, locking you out of your own market

• An investor loses interest in your business, seeing no clear IP strategy

• A legal battle hits just as your business gains traction

So, the question isn’t whether to patent, it’s how to do it without overspending.

The key is knowing where to focus your budget; trust me, that’s easier than you think. Here, I’m sharing my tried-and-tested strategies for you to patent while keeping costs in check.

Let’s dive in.

Related: Protecting Your Critical Inventions On A Tight Budget

Identify high-value innovations for patenting

Startups tend to make one of two costly mistakes with patents: over-patenting or under-patenting. Both can hurt your business.

Under-patenting happens when teams fail to document innovations. Without a structured process like Invention Disclosure Forms (IDFs), valuable ideas slip through the cracks, leaving them unprotected. The patent applications must be filed early, prior to commercialization, when funding can be tight.

Over-patenting is the opposite problem. Companies waste money filing patents that don’t actually strengthen their market position. It’s like betting on every horse instead of picking the one with the best shot at winning. Smart innovation managers focus on patents that protect revenue and block competitors most efficiently.

So, what is the best way to do that? A structured patentability assessment. An idea evaluation matrix can bring together R&D, business leaders and legal teams to assess patentability based on key factors such as business value, likelihood of patenting, expenses, etc. This comprehensive approach ensures only the strongest ideas move forward.

Here’s my rule of thumb: If losing the idea wouldn’t hurt your business, don’t patent it.

Plan your IP budgets wisely

Filing a patent without a budget is like hiring employees without knowing if you can pay them next month. It’s risky and financially irresponsible. Many startups rush into the process, only to run out of funds and abandon their applications or let issued patents lapse.

Patent costs come in phases: drafting fees, argument fees and government fees throughout the process, including after issuance. Each patent may blossom into a family of patents. This budget can blow up as foreign equivalent and follow-on continuation patents around the initial innovation. If you only budget for the initial filing, you may be forced to walk away from a patent you’ve already invested in as costs balloon.

To avoid this, set a patent budget before filing. Account for legal fees, future filings and long-term maintenance. Discuss budgets end-to-end or fixed-fee structures with your attorney to avoid surprise costs. Once your patent is in process, use cost estimation tools to track upcoming expenses and stay financially prepared.

A well-planned budget keeps your patents working for you, not against you.

Related: 4 Ways to Significantly Reduce the Cost of Obtaining New Patents and Managing IP

Use smart filing strategies to cut unnecessary costs

Let’s be honest. Many startups try to cut costs the wrong way. They rush applications with claims that are too broad (extending the argument phase) or too narrow (offering little protection), hire the cheapest attorneys or skip strategic planning altogether. They think they’re saving money, but in reality, these shortcuts lead to rejections, poor strategy and patents that fail when needed most.

A smarter way to save? Strategic filing decisions.

• Start with a provisional patent. For just $140 in USPTO fees with legal fees being lower too, it locks in your filing date and gives you 12 extra months to refine your invention before committing to a full application.

• Leverage government fee discounts. You can save 50-75% on USPTO fees if you qualify as a small or micro-entity. I always remind my clients to check this, as too many businesses leave money on the table.

• Hold off on foreign filings unless there is a serious commitment to those markets. Each country can cost $5,000-$10,000 initially and ultimately $25,000-$75,000. Start in the U.S., then use the PCT system to delay international decisions for up to 30 months while assessing demand.

Another major cost driver is excessive prosecution with tough examination. I always advise clients to use predictor tools to steer clear of technology areas where getting patents is difficult.

Once assigned, check examiner analytics to understand their approval history and adjust your strategy. For instance, if you’re assigned to a tough examiner who has allowed only 1-2% of applications, consider requesting an interview to improve your chances. But if success still looks unlikely, abandoning the application early could save you from pouring money into a dead end.

Prune low-value patents to avoid unnecessary fees

I see too many startups waste 10-20% or more of their patent budget on patents that no longer serve them. If a patent isn’t protecting a key technology or providing a competitive edge, why keep paying for it?

I tell my clients to review their portfolios annually. Ask yourself: Does this patent still align with my business strategy? If not, drop it, sell it or license it to recover costs.

Also, if you’ve exited a market, stop paying to maintain patents there. Foreign filings without a business presence serve no purpose.

A lean, high-value portfolio is far more effective than a bloated one. Focus your budget on the patents that truly matter, and you’ll see real value from your IP.

No matter which one of the above approaches you take, one thing remains the same: You can’t make cost-saving patent decisions on human intuition alone. Instead, the right tools give you data-driven insights that guide smarter choices.

Related: 5 Ways to Improve Your Chances of Getting Patents

Use data, not guesswork

Smart patenting is all about making the right moves, and data helps you do just that. The right tools can assess approval likelihood, predict end-to-end patenting costs and uncover cost-saving opportunities — helping you determine which patents are truly worth pursuing and maintaining.

Performance-driven innovation managers don’t just file blindly and hope for the best — they track, analyze and adjust. If you want to win, you need to do the same.

“Shark Tank” star Kevin O’Leary sees a lot of pitches from entrepreneurs, especially in AI. And he’s all in on the technology — the venture capitalist announced in December that his firm, O’Leary Ventures, is developing the “world’s largest” AI data center industrial park called “Wonder Valley” (no doubt a nod to his “Mr. Wonderful” nickname) in North West Alberta, Canada.

So how can an entrepreneur stand out in a crowded AI field?

“I think one of the big startup opportunities being overlooked right now is training people on AI,” O’Leary said on Instagram, adding that entrepreneurs should not ignore the service business industry when looking to start a business.

“AI has such great potential, [but] most people don’t know how to use it, that’s the key,” O’Leary said.

Related: 91 Service Business Ideas to Start Today

According to Indeed, a service business is a company that performs tasks for the benefit of its customers, including “transportation, cleaning, traveling, hospitality, maintenance or consulting.” These businesses sell a service, rather than a product.

O’Leary said that if a service business can take “the pain point out of someone’s learning time,” then it can be very successful. In this case, getting someone “to actually use AI” would be a business win, he said.

“Service businesses can make a ton of money if they are effective,” O’Leary said.

According to data published in January 2024 from the U.S. Census Bureau, the estimated revenue for services industries increased almost 10% in the two years prior.

“It’s huge,” O’Leary said.

Related: No Meetings, Up to $30 Per Hour, Fully Remote: A College Student Training AI Says the Work Is ‘Perfect’ for Introverts