With the rise in platform technologies, the need for freelancers, contractors, and “gig workers” has increased, leading to the splurge of individuals considering starting a side hustle to support their full-time job.
Nearly 44 million Americans pursue various side jobs, including driving for ride-sharing businesses, renting out their homes, and selling handcrafted items online.
One reason for the rise inside hustles is the convenience with which they can be started. More specialized professions, like freelance graphic design or web development, can be transformed into a side hustle and promoted online.
Furthermore, side hustles provide your budget with more breathing room, allowing you to pay down debt, save money, or even increase your income.
So, if you want to start your side hustle, here’s a simple yet effective guide to help you figure out everything you need to know.
What Is A Side Hustle?
Before we dig in deeper, let’s start with the basics and understand what exactly a side hustle is? Any form of work that a person does in addition to their regular job is known as a side hustle. It’s usually a freelance or part-time job that allows you to grow your income. Side hustles are generally things that a person is passionate about, and one of the best parts about a side hustle is that they allow flexibility to work.
Starting a side hustle can drastically alter your life’s path. An extra $500 a month can help you splurge a little, an additional $1500 a month could cover your rent, and an extra $2,000 a month could help you turn your side hustle full-time.
How To Choose The Perfect Side Hustle For Yourself?
There’s an entire universe of side hustles that you could start right now.
It’s easy to become overwhelmed by the unlimited possibilities, especially when considering how many diverse directions your skillset could lead you. So, here are a few simple steps to help you find a side hustle that suits you best.
1. Narrow Down Your Options
Take some time to write down everything you are passionate about. This might be anything from your creative abilities to your organizational skills to what you do in your full-time work or even something you’d like to try your hand on.
Once you’ve made a list of everything that could be converted into a side hustle, filter it down to what interests you the most and is easiest to sell. There will be many ideas that you have no interest in and others that will pique your curiosity. After you’ve narrowed down your alternatives, start researching them.
2. Give Yourself Space To Grow
It’s not unusual for a side hustle to become a full-time venture. If you start your side hustle later in life, it may be a good idea to keep it going into retirement, where it can provide earnings and give you something useful to do with your time.
However, if you are in high school or university and want to start a side hustle, evaluate whether it gives you the space to grow and whether it is scalable. Is it possible to quit your work and make a living from a side hustle? Scalability will aid in the growth of your side hustle, with the option of turning it into a full-fledged business.
3. Consider Your Income Potential
If you choose a side hustle, you would want to ensure there is some form of long-term passive income component.
Since our financial goals are typically the driving force behind our side hustles, it makes sense to figure out your financial demands before committing to anything.
Ask the following question, How may a side hustle help you increase your income? Once you have an answer to the question, choose an income goal that fits perfectly for your needs.
How To Market Your Side Hustle?
Now you know how to choose a side hustle that perfectly checks all the boxes for you. The next step is to promote your side hustle. Promoting your side hustle is vital since it makes you more visible to potential customers. Here are three steps to boost your side hustle.
1. Build A Website
The first step in promoting yourself and your side hustle is to create a website to advertise your services. If your target client is likely to seek what you offer online, you want to make yourself as “discoverable” as possible. Having a website will help with this.
One of the most effective ways to create a strong website for your side hustle is to choose a domain name that describes your side hustle and is memorable and unique. A .sbs domain name is ideal for building a website for your side hustle. .sbs stands for “Side By Side” and is aimed at bloggers, entrepreneurs, and working professionals thriving with their side hustle.
2. Understand Your Market
You’ve come up with a great idea for a side hustle and are ready to leap. However, before you do so, spend some time learning about the market. Investing in market research before entering any market makes it easier to understand their potential clients’ needs and expectations, as well as where competition may arise later on.
Understanding your market and what your clients want is the only way to succeed. If you discover that something is missing from your service, it will provide an opportunity for you to improve. You’ll gain a better understanding of how clients benefit from your services, as well as learn about disadvantages.
3. Test The Waters
Many entrepreneurs are terrified of taking risks, so it’s understandable that they don’t take the time to consider what they want from their side hustle. Putting your idea to the test before making any judgments will certainly save you from failure.
Reach out to potential clients from your networks and offer them your services as a way to test the waters while marketing your side hustle. Request their feedback and see what works best for your client and you. It will provide you with some insight into how you should market your side hustle. Pro tip: Get a testimonial from your friends and coworkers to help you find more clients.
Three Budding Side Hustles To Consider In 2022
Certain side hustles have become well-known through time. For example, renting out an Airbnb. The number of feasible second jobs is growing in the ever-expanding gig economy, giving eager hustlers more possibilities than ever before. Here are three emerging side hustles to look out for in 2022.
Micro-influencers with a good following are in high demand by brands looking to reach out to more specifically focused audiences. To become a micro-influencer, all you need to do is set up a social media account and put in the time and effort to start creating content.
Micro-influencers who are successful usually generate or curate material around very particular niches or genres.
2. Freelance Writing
Freelance writing for a blog is a very famous side hustle idea. It’s because blogs are everywhere, and companies are constantly on the hunt for writers who can write for their blogs. It means you have a lot of chances to get some clients!
One of the secrets to becoming a successful freelance writer is choosing a niche and writing for it.
3. Selling Online Courses
Selling an online course can earn you thousands of dollars. All you need is marketable skills that others can learn, and you’ll be on your way to a successful side hustle.
An online course is an excellent approach to teaching others about a specific subject. It helps if you have a website on which you can sell an online course through various online learning platforms.
There you have it! It takes time to start a side hustle, but it’s one of the most rewarding things you can do.
Choose a side hustle that you are truly passionate about. It will offer you a sense of accomplishment that comes with achieving a goal — even if that aim is simply to do something fun.