TYPE OF BIZ - SIDE HUSTLES

What Is a Side Hustle?

A side hustle is a way to make money outside of your 9 to 5 job. It allows you to make more money that’ll give you the freedom to pursue your passions, buy things you need or want, and lower any financial worries. Truth is, most 9 to 5 jobs don’t pay the bills. Especially if you’re just starting out in your career. When you calculate the cost of rent, food, bills, and transportation, you might realize that you barely have anything leftover. What a bummer. The worst part is that your financial growth is always capped. Maybe you get a bonus of a couple of hundred dollars a year with a 1 percent salary increase on your $30,000. But is that really enough to live the life you dreamed about? Maybe, but probably not.

So, you start a side hustle to make a couple extra hundred or thousand dollars a month. Something that can either help you make more money today, tomorrow or five years from now. Something that will change that $0 bank statement into something greater.

How to Develop a Successful Side Hustle

So, you have decided that a side hustle from home is the best way for you to make money online, but you don’t know where to start. Look no further, we have a list of steps to follow for you to develop a successful side hustle today!

1. Make a list of what you’re interested in.
   You need to love what you are doing as a side hustle for it to be successful for you. This job will be done on your own time and outside office hours if you have a day job, so it will take a lot of energy and motivation to make it stick. Only something that you are passionate about will drive you this much. Brainstorm side hustle ideas around your interests and skills to discover the best ventures to start or see if you can turn a hobby into a business.
2. Decide early if you will invest money.
   Side hustles shouldn’t cost too much money, but they may require some investment upfront for things like hosting, branding, and tools. You may decide that you want to do advertising to find your first customers. Whatever your growth and expansion plan is for your side hustle, you need to be aware of your spend before it happens. Plan your spending accordingly, and measure your success to know whether you should continue.
3. Make sure there are no conflicts of interest.
   If you have a day job or have connections that could lead to a conflict of interest with your side hustle, then it is not a good idea to continue with it. Sometimes, the best advice is to try something else or to shelf your idea for another time so that you don’t end up doing something you regret. Starting a side hustle with a conflict of interest could lead to costly lessons learned.
4. Schedule time for your side hustle.
   A side hustle takes time out of your schedule daily, so ensure everything is going right. It is not possible to set up your website, schedule your content, and forget about everything until next month. Set aside time in your calendar regularly for your side hustle, and outline actionable goals for this time to ensure what you are doing is valuable. If you have a day job, aim to give three to four evenings a week and perhaps some hours on the weekend to your side hustle, depending on what it is.
5. Don’t forget about your day job.
   If you are setting up a side hustle while also having a day job, remember to put 100 percent of your energy into your day job when you are there. A side hustle will give you some money, but you rely on a check from your day job that you need to pay the bills. Don’t try to juggle your day job and side hustle within your 9 to 5 hours, as this is a recipe for disaster.

Side hustles are one of the best ways to increase your income so you can pay off debt, save up for a big purchase, grow your retirement savings, or reduce your financial stress. The best side hustle ideas are flexible and pay well for the work you’re doing. I personally like the ones that are scalable (as in ones you can build into a much larger business), but not everyone is looking for a new career.

There are tons of Business Ideas in this publication to help you find what interests you the most!

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