Whether you’re bored at work, need some extra cash or simply want something different from the daily grind, starting a side hustle might be right down your alley.
A side hustle is a way to earn income on top of your full- or part-time job.
Maybe you’ve always wanted to have a go at:
- Making handmade jewellery.
- Writing a blog.
- Starting a podcast.
- Driving with a ridesharing network.
Whatever your interests, this might be the perfect time to jump in with both feet and give it a go.
Before you leap
Not sure where to start? Well, first you need to consider whether or not a side hustle will actually fit into your lifestyle.
The reality is that side hustles aren’t easy.
The idea of earning extra cash can be very enticing, but it certainly doesn’t come without its challenges.
Think of a side hustle as a job that you’ll be doing outside of your regular job. A portion of your non-nine-to-five time that you have previously spent socialising, going out or relaxing will now need to be spent on your second job.
So before you start picking out domain names for your new venture, ask yourself these three important questions:
- Do you have a solid work ethic?
- Is your schedule flexible?
- Do you have a strong desire to make extra cash?
If you’ve answered ‘yes’ to all the questions above, then you’re ready to start your side hustle journey.
Start a side hustle in 3 steps
Check out these top tips to learn how to choose, launch and maintain a lucrative side hustle.
- Choose the right job for you.
- Promote yourself to potential clients.
- Measure your success.
Ready to hustle? Let’s go.
1. Choose the right job for you
The sky really is the limit when it comes to moonlighting.
Thanks to real-time apps such as Uber, Fiverr and AirTasker, it’s never been easier to earn extra cash.
These platforms already exist, so the cost of startup is minimal (if anything at all). All you have to do is sign up, create a profile and away you go.
Keep in mind that whatever type of business you choose, it should be something that you enjoy. It will be a lot easier to put in the extra time after a long day’s work or on a weekend if you’re interested and invested in the type of business you have.
In other words, don’t start a dog grooming business if you hate animals. Don’t start a photography business if you hate taking photos (or know nothing about photography for that matter!).
Tally your costs
Another important factor to consider is your finances. Ideally, your side hustle should have minimal to no overhead costs. You shouldn’t have to drain your bank accounts in order to launch or maintain it. So before you get started, list out the initial costs your side hustle will incur and decide if they are feasible.
2. Promote yourself to potential clients
Once you’ve come up with your brilliant money-making idea, it’s time to put your plans into motion. Unless you’re working for one of the apps, you’ll need to market yourself to those interested in the service or product you’re selling.
If you’re starting your own business from scratch, it’s a good idea to create a website. Thanks to the many easy site builders on the market, you can get a website up and promoting your services in about an hour.
There are a number of affordable options, including:
- GoDaddy Website Builder, perfect for service businesses that want mobile-friendly websites fast. You can even build it from your phone.
- Have products to sell? Our eCommerce website builder has everything you need to sell online.
Once you have an operational hub, you can use these tools to bring people to it:
This is a free way to give your side hustle some exposure. Make sure you stay active on the platforms that will reach your target audience. Don’t waste your precious time on the platforms that aren’t popular with the clients you’re chasing.
Build an email database that you can use to spruik your services, inviting clients to subscribe in exchange for coupons or freebies.
Even if you didn’t necessarily set out to blog, starting one will demonstrate to your clients that you’re an expert in your field and don’t mind sharing what you know.
3. Measure your success
A successful side hustle should give you a level of income that is worthy of the time and effort you are putting into it. The last thing you want is to slave away in the evenings and weekends and be getting little in return.
Set a few guidelines for yourself — for example, x dollars earned per hour.
Continue to track your sideline to determine whether the amount of work you’re putting into it is justified. This will allow you to decide whether you want to keep it going.
Don’t throw in the towel too early, though.
Keep in mind that it could take some time for your efforts to see success. Don’t expect too much right off the bat. Have faith that if you continue to put enough blood, sweat and tears into it, you’ll start seeing the fruits of your labour.
Make 2019 the year of the side hustle
If you’ve always wanted to start a side hustle, then there has never been a better time to do it. With the right planning, execution and maintenance, you can moonlight successfully.
To recap, here are the key points to consider:
- Choose a side hustle that you’ll want to do, even when you’re tired.
- Keep your initial costs low.
- Promote yourself to gain exposure and clients.
- Track your earnings to make sure it’s worth the effort.
Starting a side hustle takes commitment, passion and drive, but with the right strategies and tools, you’re bound to see success.