We all wish we could make more money. You might be incredibly happy with your day job and yet still yearn for that empowering moment when a venture you started--conceived of and executed by you--results in actual residual income. There is absolutely nothing wrong with having a viable side hustle. However, up and quitting your day job while proceeding to leap head first into untested waters now that, on the other hand, can be somewhat problematic. There is after all something called a paycheck that we all require to live.
But initially engaging in an online side venture while remaining in your traditional job is a terrific way to plant the side hustle seed and potentially grow a profitable online (or perhaps even on-the-ground) business.
Coming up with and executing a side hustle idea is not as difficult as you may think. An entrepreneur-in-waiting, you have the know-how and the resources at your disposal, you just have to go for it. Where do you start – Glad you asked!
Pick your niche.
Everyone’s got a talent, a special skill, just something you really love to do…You’d be amazed at the myriad ways there are of making money online. Perhaps you’re great at graphic arts. Advertise yourself as a logo designer, ebook cover artist, brand consultant. Maybe you’re a numbers whiz. Help people keep their books and organize their monthly figures. Whatever side hustle idea you choose, make sure that it is realistic as far as your capabilities and that ultimately, it’s something you will enjoy doing!
Be Realistic About Time Demands.
We’ve already established that you’re not about to go all in and abandon your primary source of income. That means that you have to account for the hours spent working your 9-5 while leaving enough time in there to accommodate your online side hustle. The side hustle is most likely going to be a byproduct of your “free time”—what, you ask, is that? Exactly. So ensuring that you cleverly allocate those precious 24 hours (minus at least a couple in which to sleep) is critical.
How do you make money online…you juggle, very carefully. Maybe you can’t do it all on your own. Perhaps you hire an affordable freelance web designer to engineer that aspect of your online gig. You could even work with a freelance content writer to sharpen your message and fine tune your prose. As far as your own time, it’s going to be a bit of a balancing act, so make smart choices.
Study the Competition.
Seems pretty simple to those who’ve gone before and consequently succeeded. If for instance you want to become the next Martha Stewart and sell your wares on Etsy, go there, check out what successful sellers are doing as far as their profile, their logo, site design. They say imitation is the sincerest form of flattery—there’s nothing wrong with mimicking some of the strategies and ideas. Just put your own twist on them. For instance, perhaps a fellow crafter has an awesome sales pitch, use this as a foundation from which to start. If you can’t figure out how to capture the essence of what they are saying in your own words, enlist the aid of a talented freelance writer to help!
Spread the Word.
Certainly your great side gig needs a market. If you want to start making some money online, then you need to promote your venture. Start with the basics like Social media. You have a Facebook page, right? Use it! What about utilizing platforms such as Pinterest, Instagram and Twitter to hype your side hustle idea? Not an expert at how to make these sites work for you—an experienced social media marketer can definitely be of use in this arena. A site like Freelancer.com features some of the best social media marketers from around the world.
Unfortunately not all of us are as diligent as we should be when it comes to staying organized. But especially when you’re attempting to run a profitable side gig, organization becomes extremely crucial. Just as you’re juggling time management, make no mistake about it, you’re also engaged in a juggling act when it comes to maintaining order, consistency, and overall organization. Some people simply aren’t the best when it comes to staying on top of the day-to-day, and that’s okay. Virtual Assistants are the modern-day Girl Fridays. Look into hiring a freelance VA. Cheaper than a part-time, in-house assistant, they can take care of emails, help with the books, even update your social media. It may be exactly what you need to make your side hustle soar.
Whether you’re an online t-shirt company, a catering business or an ecommerce shop, happy customers are going to be the key to your ultimate success. Unhappy customers, and let’s just say you may as well close up shop. Feedback is everything. Reviews are the new buyer’s bible. Adjusting in accordance with customer comments will only make your side hustle work that much better. Perhaps you don’t have time to respond to every client call or answer all of those emails—again a freelance virtual assistant could definitely come in handy here.
Nothing like good old fashioned hard work and determination when it comes to understanding how to make money online with a side hustle. Unfortunately, as with any worthwhile, challenging project, it’s not going to be all sunshine and roses. You’re more than likely going to encounter a couple of hiccups, some stumbling blocks, throw in a hurdle or two and you’ll probably think to yourself why on earth am I doing this…But don’t give up. What is the most common quality that successful entrepreneurs share – you guessed it, their ability to persevere even through the hardest moments. And remember you do still have your day job, but make sure you don’t use that as your crutch. Keep a can-do attitude--that’s absolutely essential for the health of your side hustle.
Whatever side hustle idea you decide to pursue, odds are pretty good you’re going to need a little help along the way. And there is certainly nothing wrong with that. Fortunately, we live in a world where great resources in the form of freelance designers, writers, artists and marketers are abundant. At Freelancer.com, we bring them all to this one dynamic platform for you! Post your project today and sit back as the proposals come pouring in. It’s the best first step you can take!