The path towards financial independence isn’t always as simple as working towards a work promotion that pays you more. For some people, there may be no such opportunities in the first place. If you find yourself in the latter situation, you have two options: reduce and manage your expenses or increase your income. Having a side hustle is arguably one of the most popular ways to earn extra cash and improve your finances.
An IT guy, for instance, earns extra bucks moonlighting as a driver for a ride-sharing app. There’s an ESL teacher who vlogs part-time and enjoys the additional income from YouTube ads. Rank-and-file employees, on the other hand, can make thousands selling their products to their colleagues, eventually expanding their network of potential customers.
While these examples of side hustles sound promising, they’re not always appealing. After all, you’re already busy with your day job so why create more work for yourself?
There are no easy answers as to why people take on side hustles. Some do it out of their passion. Others are probably paying off debts or saving for a vacation. A few are looking to start a business that diversifies their sources of income. Given the uncertainties— deaths in the family, economic crisis, or even global pandemic—it’s not always fun relying on your regular job for all of your earnings.
Regardless of the reason—whether it’s for fun or for a future business that replaces your day job—here are some of the side hustles you can pursue.
Maybe you’re an accountant who is also an amazing photographer. Or, you’re a nurse who’s also good at Photoshop. A passion, skill, or hobby can turn into something profitable. Organizations are always looking for talented individuals they can hire for short-term or project-based arrangements.
Traditional employees, after all, are expensive and come with plenty of overhead costs. As a result, you’ll find companies hiring freelancers instead. Look at your immediate network first. Maybe a friend can refer you to a gig with their company. Many opportunities result from word-of-mouth recommendations, too.
It’s especially true if you get into marketplaces for freelancers like Upwork or Fiverr. From data entry work and graphic design to programming and animation, these online platforms offer a broad range of listings for countless services needed. If you do your job well, clients will not hesitate to put in a good word for you.
The only downside with service-oriented side hustles is that you are trading time for your money. But if you’re patient and willing to put in the hours, you can establish your reputation and grow your portfolio of clients in no time.
Protip: Make a portfolio of your work that clients can review to see if your services and their needs fit.
I know a TV producer who loved his regular job. He worked hard to build a name in the entertainment industry. He also loved baking. The taste tests were initially limited to family and friends. But soon after, he joined bazaars, presented in food events, and even catered to birthday parties.
As interest picked up, he put up a Facebook page, and slowly sold his confections to a growing and loyal customer base. Now, he’s running a profitable bakeshop and opened a Mexican cantina. He’s never been happier since he left the television industry.
Of course, not everyone is good at baking. But you get the picture. If you like creating things—whether food or crafts—why not sell them? And if you’re not even good at creating things, maybe consider re-selling products.
Two friends, both stable in their respective jobs, ventured into reselling merchandise of popular Korean singers and celebrities as a sideline. Thanks to the availability of online programs—many of them free—they run a streamlined business complete with worksheets, invoices, and tracking. Of course, like with any extra work, you will incur expenses here and it will require some legwork. It’s akin to running a business after all, so having some capital is necessary. But it is possible, even with your regular work.
Consider setting up a website for your products, too. A website not only gives credibility to your side hustle but also makes it easier for consumers to browse and buy items.
Pro tip: You don’t have to sell physical products. Digital assets like online courses or e-books are fast becoming popular, too. If you need help on website development contact us or if you want a reliable web hosting service, check out OneWebUnit.com
Build an Audience
Imagine getting paid just by eating or posting a photo. While it sounds like a lazy man’s dream, Andy Warhol was right—everyone will be famous for 15 minutes. The audience-driven approach to side hustles is becoming one of the most popular ways to earn extra income. Platforms like Spotify, TikTok, YouTube, and Instagram, for instance, offer the impressive potential for building your personal brand.
If you grow your followers or subscribers, you open your channel to opportunities like influencer marketing, generating income by promoting products, or adding affiliate links to your content. Dave Lee of Dave2D, for instance, racks up thousands of views for his tech review channels, which translates to an estimated $800,000 worth of revenue in a year. And he still has a full-time job.
Granted, it’s a cutthroat industry out there, so it’s not exactly an effortless side hustle. But while putting hours in any side gig is a no-brainer, there are other things you can do to make this a successful endeavor. Choose a topic you love—whether it’s about tech, food, sports, or even pets. It’s easier to engage with an audience if you’re interested in what you’re doing. Creativity and humor are also welcome.
Look at a niche worth tapping. You don’t have to compete with the big guns here. There are plenty of food or tech review vlogs and blogs already. Going for something more specific will improve your chances of getting traction. Brands, after all, aren’t just looking for household names but content creators who can give them access to a particular demographic.
If you don’t like what you’re doing, there’s always an excuse for it. But if you want to achieve something, the possibilities are endless. For those who want to diversify their income and reach a financially stable life, side hustles are no-brainers. But they aren’t just tools for making money. Since they don’t operate like your traditional career, they’re a great way to bounce off business ideas and learn valuable skills. They don’t have to become full-time jobs, either. For many, side hustles are just that — an outlet to pursue a love for their craft, earn extra for it, all while keeping their day jobs.
If you’re looking to professionalize your side hustle, consider leveraging social media platforms and the Internet. Kairos IT services can help you build your website, establish your online presence, and develop your digital marketing strategies or online communities
Side Hustle Ideas: https://www.shopify.com.ph/blog/side-hustle
Start a Side Hustle: https://www.namecheap.com/blog/start-a-side-hustle/
The importance of a side hustle: https://fibyrei.com/the-importance-of-a-side-hustle/