Side hustles are a popular way of making some extra cash. If you want to make some additional money but can’t obtain a pay raise or a new job, side hustling may be the answer. But where do you begin?
Your side hustle has the potential to open doors for you that you didn’t know existed. You might be surprised at how many opportunities a side business can provide. Furthermore, the additional cash you make might help you repay debt, catch up on bills, and even save for the future.
If you’re interested in joining the side hustle movement and earning more money your way, you may be wondering what sort of work you can do. Here are 6 ways to help you find the right side hustle for you.
1. List Your Skills and Interests
The ideal approach to figure out what side hustle is ideal for you is to make a list of all of your talents, hobbies and interests.
It’s critical to find a side hustle that you enjoy and can do well in. If you can do this, it won’t seem like such a huge additional burden. Carefully consider everything you have access to when making this list.
Do you enjoy writing? Do you have a passion for social media? Do you like doing projects yourself? Do you enjoy interacting with other individuals? Are you interested in marketing? Can you play any instruments, or do you shine in academic areas?
Even if you enjoy home organisation or interacting with animals, make a note of it because it will assist you in coming up with side hustle ideas.
2. Work With Your Natural Personality
Not every side hustle is a good fit for your personality.
I’ve discovered over the years that I like side hustles like writing or editing where I can operate independently.
However, you may find the prospect of sitting alone in front of your computer unappealing.
Someone wanting to socialise while working a side hustle may not like online surveys but be better suited to bartending a few nights per week for example.
Selecting a side hustle should include an assessment of what you like and dislike and the motives for the activity. If you enjoy it, the greater the probability that it will fulfil your goals.
The secret to choosing a good side hustle is to consider what kind of working atmosphere appeals to you most. Then, work on cultivating this to meet your expectations.
3. Be Honest About Your Free Time
Once you’ve created a list of skills and interests, you may naturally have several creative ideas for a lucrative side hustle.
Before you go ahead, consider how much time and effort you could realistically devote to a side business.
Assess your present routine and how it may change. How many days do you typically take off from your main job? Would you have any free time during the day, evenings, or weekends to focus on your side hustle?
You don’t want to work all day, every day, but it’s important to figure out how many hours each week you can set aside for a side hustle.
Some jobs pay for a certain amount of time each week, and you do not get paid extra if you work longer than that. This may be 5 hours, 10 hours, or 20 hours per week. It all depends on your schedule and availability.
Also, remember your energy levels. Learn when you have the most energy throughout the day to do extra work.
For some, this is in the morning, while for others, it is in the evening.
If you know you won’t have the time or energy to work on your side hustle after work, you might want to pick something flexible that you can do around your commitments.
4. Explore Potential Generated Income
Take a look at the amount of money you want or need to generate. Side hustles are frequently motivated by our financial goals, so it’s essential to figure out what they are before getting started.
Consider why you want to start a side hustle in the first place.
Perhaps you want to quit your job. Maybe you want to pay off your debt before travelling abroad once a year. Or, maybe you want to diversify your income.
Choose an income goal that corresponds to your ‘why.’ Not all side hustles are created equal. Some may be entertaining and low-effort, while others might have little earning potential.
If you just want a little extra cash to go out for coffee catch-ups with friends, taking surveys online or mystery shopping may be the answer.
If you want to earn £250 per month so you can pay a bill, working part-time at a shop may be a good idea.
On the other hand, if you want to earn more than £500 per month, the side hustles below may be worth your time.
- Virtual Assistant
- Pinterest Virtual Assistant
- Graphic Design/Programming
- Photography
- Private Tutoring
- Coaching/Consulting
It may also be worth exploring other opportunities too, such as starting a franchise. There are a wide number of franchise opportunities available from toddler classes to pizza restaurants. The range of franchises in the job market gives you the opportunity to follow your interests and use your qualifications and experience. A franchise can also mean additional support or even mentoring as you start up your own business. It can be useful to research the different options available through franchise-uk.co.uk and see what could work for you.
5. Decide When You’d Like to Start to Earn Extra Money
When most people hear about side hustling or think about launching a side business, they have dollar signs in their eyes.
While making money may be enticing, remember that you may not make any money at first.
Some side hustles are great for a quick, short-term money boost, while others might need you to put in some time and cash but will eventually become a reliable source of income. It is up to you to determine what you want and need right now.
The great part about freelancing is that you can set your prices and work hours. However, getting clients might take a few weeks. When you’re starting out, you may have to provide trial services for less than your agreed-upon fee to gain experience.
Uber is one of many side hustles that can help you generate money quickly since they payout every week.
Whilst blogging, may not pay out for a few months. I worked on my first blog for five months before I received my first payment. I was a complete beginner with a lot to learn. However, as I continued to work hard on my blog and improved it, my income increased.
6. Invest in Your Education
Once you’ve decided on your side hustle, access your current skills. If necessary invest in your education to get you to where you need to be.
Find blogs on the subjects, read books, and take courses. Keep a budget in mind and remember, it is a long-term investment.
Link up with other people who already do what you want to do. Join Facebook groups and follow relevant social media accounts. Pick up insider tips and tricks and make connections with people in the business.
As you can see from the content above there are many different factors that come into play when deciding which side hustle would be the ideal option for you. If you have decided on a particular industry you would like to run your own side hustle in, we recommend then you browse a list of different side hustle opportunities like franchise-opportunities.co.za. This should help you find your ideal opportunity to make extra money to support you and your family.
Finally, leap and jump in. Make a start on your side hustle and do the thing you’ve always wanted to do whether that’s the hustle itself or the financial goal behind it.