Not all of us are passionate about our day jobs, but it’s the only way we can make a living. Working Monday to Friday, 9-5 and doing the same things over and over again can be mundane, but quitting a day job to follow a dream isn’t a practical solution financially for most people.
But who doesn’t want extra income? And who doesn’t want to turn that longtime dream business into a thriving and flourishing reality? The solution – start a side hustle.
Starting a side hustle can be both challenging and intimidating, but it’s a great way to test the waters and pursue what you really want to do. To ensure that your carefully planned side hustle goes smoothly, here are some tips to help you out.
1. Detail your skills and interest
How many times have you started something then quickly lost interest for no apparent reason? Your skills and interest carry huge importance when starting a side hustle. But just because it’s your passion and it sounds interesting doesn’t mean everything will go on smoothly. It will take an immense amount of work before you reap success.
Assess your skills and your natural abilities, then match those up with your passion and interests before you decide to take on a side job. Don’t rush things, and take your time when gauging your capabilities. Keep in mind that you should have a strong interest, real passion, and the innate abilities needed to break into the industry you’re considering. Put together all these elements, and you’ll become an efficient side hustler in no time.
- Be ready to dedicate long weekend sessions and late nights to stay ahead of the game.
- Avoid struggles and confusion by focusing your goals around activities you’re naturally good at.
- Look up and admire successful people, but be unique and differentiate yourself from them.
- Increase your social media presence and establish vital connections relevant to your business.
2. Do your research on viability
Jumping on the bandwagon without knowing the tricks of the trade of your desired industry will most likely lead to failure. Starting a side hustle will only be a success if you do your own research regarding market viability. You’ll need to figure out the current level of competition and find ways to break into the trade.
Crowded businesses can be very difficult to break into unless you have something completely unique and exceptionally irresistible to offer. You can try to venture into the product or service category, as there is often room for new players, which is perfect for part-time side hustling. Check out these low-cost but high potential side hustle ideas that you can start doing today:
- Sell on e-commerce platforms such as Amazon, eBay, Etsy, etc. The environment might be tough and competitive, but there are tons of opportunities to earn extra cash.
- Consider doing online jobs from outsourcing companies. Teaching, writing, blogging, answering surveys, doing reviews, designing logos – it’s a highly diverse world.
- Show your passion for the arts. From event planning to souvenir making and painting/sketching services, use your creative mind to make some extra bucks.
3. Set a schedule
With only 24 hours a day, trying to do everything at once is a common problem for many side hustlers. Allotting enough time for each activity is impossible considering you have a full-time job, a family, social obligations, and now a thriving side job that requires equal attention. Life is all about balance, and nothing can kill enthusiasm faster than the “all work and no play” principle.
It’s important to create a schedule that will accommodate all your activities according to how you prioritize them. Devoting more time to your day job and giving little attention to your part-time job will eventually lead to delayed success. The same thing goes if you focus more on your side hustle and forget about your main source of income – it’s all about creating that balance.
- Set a schedule that works for you, find your most productive time and optimize peak hours.
- Maximize your free time and use available hours to make progress on your side hustle.
- Practice focusing on current tasks rather than just envisioning upcoming activities.
- Avoid distractions by giving yourself scheduled intervals to do the things that distract you most such as social networks, emails, TV shows, etc.
4. Network everywhere
A growing network is a side hustler’s key to success, and starting a side hustle without proper connections is next to impossible. You’ve seen tons of people giving out their business cards to everyone they know and dropping contacts wherever they go. There are many ways to improve your network, but in reality, networking is truly a numbers game. The more people who know about your side job, the greater the chance you’ll have of acquiring customers.
For most people, the word networking means a smarmy deceitful way of growing a network of contacts. But when used correctly, it can create meaningful connections not just with friends and family but with vital people that matter to your business. Spend your extra time growing your network, and follow these tips for success:
- Make a list of people you know and gather them together to explain the objectives of your side hustle.
- Go and meet someone even if you don’t have any mutual connections. Trying is far better than regretting.
- Be prepared in every meeting; check the person’s background, ask relevant questions, and listen to what they’re saying.
- Leave a lasting impression by being punctual, acknowledging their schedule, and respecting their decisions.
5. Delegate or use services
Starting a side hustle – even if it is small in size -takes time, effort, skills, and experience. Even though you know the industry well and you have the capability to operate in it, there are tons of things you still need to consider before it becomes a full and strong stream of income. Doing-it-yourself is great and practical, but it isn’t always the most effective solution.
When it comes to establishing side hustles to earn money, you can only do so much by yourself, and other responsibilities are better left to experienced individuals to make things easier. You can hire specialists to do certain jobs or you can use efficient tools to increase productivity without sacrificing time and money. Here’re some useful applications you can use to improve your business:
- For basic accounting needs, automate things by using Freshbooks software.
- Zoho offers flexible online invoicing and billing solutions for small and mid-sized businesses.
- If you want to build a website but don’t have the skills and creativity, you can use Wix or Squarespace to create one without the hassle and technical issues.