Side hustles are becoming increasingly popular nowadays. If you want to make some extra money but can’t obtain a raise or a new job at the moment, side hustling may be an excellent alternative. But how do you start?
Side hustles can open doors for you and increase opportunities, as well as allowing you to make additional cash for paying off debt, treating yourself to a few luxuries, and even saving for the future.
If you’re interested in establishing your own side hustle, read on!
Generate a List of Your Skills and Interests
An effective side hustle is something that fits in with your skills and interests. Make a list of your talents and hobbies.
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 that interest you the most?
When you’ve done this, you will have a better idea of the kind of side hustle which will best suit you.
Work With Your Personality
The best side hustle for you is one that fits in with your personality.
For instance, if you’re a social butterfly, working in a bar a few nights a week might be a good choice for you. If you’re more of an introvert, perhaps something that involves you sitting in front of your computer might be a better fit.
According to Harvard Business Review (HBR), side hustle goals should be in line with the activity’s primary purpose. As a result, selecting a side hustle should include an assessment of congruence between one’s motives for the activity and the probability that it will fulfil those goals.
Be Honest About Your Availability
Another important thing to factor in to your choice of side hustle is an honest assessment of how much time you have to devote to it.
How much time do you need to devote to your day job? Do you have other caring responsibilities such as children? Your availability – both how much time you have and when you have it – will affect your ability to work on a side hustle. Can you spare a few evenings a week, or would you prefer to focus on a side hustle first thing in the morning? Perhaps you would prefer to set aside some time at the weekend.
Explore Income Potential
Side hustles are often motivated by financial goals. Work out before you start how much money you would need to make to make it worthwhile.
You might want to pay off a debt, go on a luxury holiday once a year, or save for a house deposit. Maybe your aims are more ambitious, and you want to be able to quit your job altogether and turn your side hustle into your main career.
If you want to make a small amount of extra money, online surveys or mystery shopping could be perfect for you. If you need to earn a bit more, perhaps consider a part time job in a shop or a bar.
If you want to earn £500 or more a month, one of the following jobs might be worthwhile:
Pinterest Virtual Assistant
Graphic Design/ Programming
Decide When You’d Like to Start to Earn Extra Money
It’s important to keep in mind that it takes time to build up a lucrative side hustle. You may not make any money at first – it’s important to keep plugging away and building up your business, with your eye on the long term. This applies especially to freelancing and blogging, where it takes time to gain experience.
Some side hustles may be suitable 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 right now.