As summer’s gearing up, everyone’s getting ready to go out and start doing something new. With Coronavirus Social Distancing starting to relax around the country, most people want to get out and start doing something, myself included. We have been cooped up far too long.
So now that you’re finally feeling like venturing out into the big blue world, what’s on your to-do list? Is starting a side hustle on there? It definitely should be. I have advocated time and again that everyone should have a second income that they control – referred to as a Side Hustle, and I will continue to advocate it until I am blue in the face, because it is life changing.
If you don’t believe me, check out How to Handle an Upside Down Economy or my other piece on 5 Steps to Deal With Losing Your Job, because you may be in that situation due to Coronavirus (I know I was). A side hustle can help you through lean financial times, and then can be a stepping stone to greater success in the bull markets.
Great, so, we’re all on the same page. You should have a side hustle – I should have a side hustle, Jimmy down the street should have a side hustle, etc. But where do you start?
What Side Hustles Are Available?
Great question! The most important first step is determining what side hustles you can jump into. Here’s the easiest way to think about it – if you can make money doing it, it’s a side hustle. I have heard of people owning and operating ATMS (a potential idea I’m personally interested in), there are people who sell products on Etsy or Amazon, digital designers, freelance contractors, Uber drivers, product flippers, and more. I even learned about a business plan for owning and operating gumball machines today.
Anything that you can conceivably run and make a profit from is a side hustle. The thing about a side hustle, though, is that it takes place in the “in-between” hours. A side hustle usually gets done during the 7-9 and 5-9 periods of time on either side of the 9-5, or on the weekends. Because of this, a lot of people don’t like to do it. Also, because of this, a lot of people are limited in what they can do (Uber takes extra time, for instance).
Then how do you go about finding something that will be profitable and you can start up immediately to make you money on the side? I’ll give you a few steps, and then lay out some of my favorite options.
Find Your Side Hustle
When you’re thinking about getting into a side hustle, here are a few things for you to look into and think about first. If you answer these questions, you can find a side hustle that will start making you money ASAP.
- What am I good at? – The first question to ask yourself is what do you do well. Are you particularly skilled with something, such as writing, design, public speaking, or selling? If so, you can look into those things. Remember, your hobbies and your skills are marketable in some way. Take a look online and figure out if you can market them.
- What do I have time to do? – Another important question is how much free time do you have? Are you a parent with three young kids running around? If so, it may be harder to create a catering business or drive for Uber in your spare time. You can do it, but you won’t be making that much. The thing is, it doesn’t matter how much spare time you have, you just have to find avenues that will allow you to maximize your profit from that spare time. Fulfillment by Amazon does not have much required time investment, but you can still make some great money doing it.
- Do you know how to profit from it? – This third question is key. You can have all the great ideas and skills imaginable, but if you don’t know how to profit from them, you won’t make any more in the end. There are buyers for whatever you’re selling – you just need to know how to find them.
Some Great First Time Side Hustles
Alright – I know after that last section you’re all itching to know where you can find buyers or people willing to pay for you to play the vuvuzela for them, and we’ll get to that in a later blog post – I promise. Right now, though, I’m going to just give you a few of my favorite side hustles, particularly for someone just looking to get started in the world of extracurricular income.
- Freelance Writing – As a blogger, I’m obviously going to advocate this to you guys, but I have more than just blogging experience to back it up. I have written as a copy writer, I have worked transcribing audio, I have written for blogs and written long form content for various websites, all on a contract basis. You make money doing this, and you start making money quickly. I’m not talking small money, either. My first month as a freelance writer, I made over $500. By month three, I was averaging $3500 per month, in my spare time (I work full time and I have a 2-year old daughter at home, so I don’t have much spare time). Seriously, this is a great opportunity for anyone looking to make extra money. If you want to start learning, I’ve written a course all about how to do it at this link: https://gum.co/fhDnX. For $25, I will give you a step-by-step guide to make money freelance writing in your spare time immediately. You can start earning later this week!
- Sell Products – There are many different avenues to do this sort of thing. They fall into two main categories – making your own product and selling it, or flipping a cheaper product for profit. Both of these options have their benefits, but I have to say flipping items is a bit easier in the end. Using Fulfillment by Amazon, a service that automatically makes you an Amazon retailer, you can begin selling products for a profit quickly and scale up a big business. I promise I’ll do a blog post on this VERY SOON.
- Use Your Skills – Play guitar, draw a picture, make an Excel Spreadsheet, whatever. But do it for money. You can use your skills whenever you want to make some extra cash. Particularly on a site like Fiverr, you can list what you have to offer and people can pay you to do that for them. Now, remember, you’ll have to offer something of value, otherwise, few people are likely to buy it.
Get out of here and start earning some extra money! Seriously, your time is a resource, and every second you have is a chance to earn some extra cash. So stop reading this blog and go make some money.