Did you know that nearly 50% of Americans have a side hustle!? If you have been considering joining the troops of people who have made this excellent decision, you’ve come to the right place to learn some of the best tips to get you started.
I started my side hustle in 2019 and haven’t looked back since. I am living proof that anyone can do this, as I went from living paycheck to paycheck in my full-time job, to making $37K of additional income thanks to my side hustle of selling digital products.
What Is A Side Hustle?
A side hustle, also known as a side job or side gig, is an additional job worked while working a primary job with the goal of supplementing income.
A side hustle can be life-changing. It can:
- Help pay down or pay off debts
- Put money away into a savings account
- Allow you to do more activities with your family
- Pay off monthly bills
- Allow you to treat yourself
- Allow you to do hobbies or learn new skills
- Help towards a downpayment on a home
- Upgrade your current living situation
- Build an emergency fund
- Allow you to travel
- Help out or treat your parents
- Help with purchasing a vehicle
- Allow you to quit your primary job and have more time for yourself
- Be financially secure and no longer live paycheque to paycheque
Starting your very own side hustle may be the answer that you have been waiting for to optimize and improve your life.
What Are Some Examples Of A Profitable Side Hustle?
To make a profitable side hustle business, you have to think like an entrepreneur! This means looking around your own life and speaking to friends, family or colleagues about predicaments they’ve faced and how to easily overcome them. You want to think of a solution.
Some examples of profitable side hustles include:
- Freelance writing
- Freelance graphic designing
- Driving for uber
- Editing services
- House cleaning
- Hosting on Airbnb
- Delivering food
- Babysitting or becoming a nanny
- Working at kids’ parties as entertainment
- Selling Digital Products (my personal favorite!)
You will want to ensure that whatever route you go down, it is something you can have fun with and will enjoy, as you will be trading some of your free time for this. The reward is worth it, though!
My Top Tips for Beginners Starting A Side Hustle
- Stop procrastinating
How many times have you put starting your side hustle off until next week, next month or even next year!? I hate to tell you but no one can make your side hustle work except for YOU! If this is something you want, grab it by the horns and jump in. You never know what exciting success is waiting for you on the other side.
- Do market research
Find side hustles in your area that are going to make you money! That is the ultimate goal here, so you don’t want to waste your time if it is strictly, for example, tip-based. If you opt to sell digital products online, you will want to ensure that you are standing out online, charging fair prices and keeping up with trends.
- Make goals to work towards
It’s human nature to fluctuate in self-motivation, but if you set strict guidelines and goals with your side hustle and make a plan to achieve your goals, they become more realistic and easier to reach! You will want to set specific goals with time frames that can keep you going.
- Do something you’re good at
This might seem a little obvious, but I wanted to mention it because it should not be overlooked. If you have a specific primary job where you learnt specific skills and you’re good at it, why not harness these skills to make extra money that goes straight to your pocket? Your side hustle should add value to your life, not be something you dread doing, because guess what – you won’t end up sticking to it! Find something you’re good at and that you enjoy and don’t feel like you have to reinvent the wheel. I made my first 37K on Etsy – not my own store. If you can find a space on existing, successful websites, do that.
- Organize your time well
Listen: burnout is REAL. You do not exist in this life to just work. You need to prioritize your time optimally so that you can still live a varied and balanced life with time for friends, self-care, fun, and family. It is simply not true that you have to be working 24/7, in fact, there are many ways to automate your business and turn it into passive income – which is the dream. If you are keen to learn how to earn passive income, I suggest enrolling in my masterclass: How To Make Extra Income With Digital Products.
- Charge your worth
Your market research from tip 2 will help inform what pricing is realistic too, but one common mistake that people starting out with side hustles is simply under-charging and undervaluing their skills. If you really know what you’re doing, you need to charge it.
- Ask for feedback/reviews
Especially when starting out, you want to ask for feedback/reviews on your work while remaining open-minded to constructive criticism. This will help you figure out what is working well and what needs your attention to improve upon. It can be useful to get feedback from a variety of voices so you can seek feedback from family and friends, peers, mentors, and your customers.
- Track your expenses
Don’t forget to create a budget that you update regularly to help you understand how much money is coming in from your side hustle, how much money (if any) you are contributing back into it and how much you need to set aside for taxes. This is an important tip because it can be super easy to get excited by the profits and forget the reality of paying taxes!
Generating additional money from a side hustle is often the missing key many people need to pay off debt, build an emergency fund, or invest towards retirement.
Whatever has inspired you to start a side hustle, be sure to consider the tips above to not only start a thriving side business but keep your priorities and lifestyle in check so you don’t get too overwhelmed. Check out my webpage, Instagram and learning resources all about side hustles, and generating additional income to get you started today!