In the world of millennial finance, the Side Hustle is an important and often lucrative proposition that can be scary at first but awesome in practice. Not only does it give you the opportunity to make more money, but it also lets you bump up your CV, meet new people, do something you’re truly passionate (even if you hate your 9 to 5 job) and generally fill up your time making you feel better/ more accomplished.
Today, I’m going to be sharing my 5 easy steps to start earning extra money with a side hustle, obviously every hustle is different, but this beginners guide should be fairly universal – I hope it helps!
(Remember, I’m not a financial advisor or anything close to a professional, all of this advice comes from my own personal experience – so take it with a pinch of salt!)
1. Make a list of your qualifications and talents.
Obviously, the first thing you need to do is look at the tools God gave ya!
In a notebook, Word Document or old receipt write down on the left-hand side all the different things you are good at or things you have accreditation in. It might be a course you completed, something you were really good at in school, something you’re passionate about and have the motivation to pursue – anything you can think of, write it down.
2. Think of the things you could do with each of those qualifications/talents.
Now that you know what you’re working with, it’s time to think about how those qualifications/talents can translate into products, services or a business.
I’ll list a few outlines and examples below to help you out:
- Tutoring/Teaching – a language, a subject from school, Speech and Drama, theory, driving.
- Housekeeping – dog walking, house sitting, domestic/industrial cleaning
- Musical instruments/singing – Play at events, teach, record and sell your music
- Photography/videography – sell stock photos, take children/family/pet portraits, event photography, YouTube channel
- Writing – freelance writing, blogging, copywriting, proof-reading, write a book (non-fiction or a novel, whatever appeals to you!)
- Social media – manage a local business’ Facebook/Twitter/website, create a website for a company, teach HTML and coding, design company headers/banners/logos etc
- Admin – virtual assistant, telecommuting positions
- Creating/designing products – digital downloads, physical products, open an Etsy shop, create merchandise for your log/business/brand
3. Pick your foundation.
You’ll want to consider the following questions:
- How much money are you going to need to put forward for stock/materials? Can you afford it?
- How much time is it going to require every day/week?
- How long will it take you to start earning money? Immediate return/build an audience/find your market?
- Can you see yourself growing your side hustle and doing it for a long time?
- Will it make you happy? You’ll be sacrificing your free time after all!
- Do any of your ideas link together/could they lead on from one another? Where’s the best place to start? (For example, you might start by selling stock photos online, and then create a portfolio of stock photos to get a wedding/birthday/event gig)
4. Take the first step!
This one can be really scary, especially if you’re creating a business that deals with people face to face. But I promise, this is the hardest bit, once you lay the groundwork, the rest comes easy.
If you’re a bit of an overthinker (like myself) you might want to create a 5-year plan (or even just a 6-month plan in the beginning) so you have an idea where you’re headed and what you need to do to get there.
5. Decide what your side hustle earnings are going towards.
Giving yourself a tangible thing that your extra money is going towards can be a really good motivator. Maybe you really want to go on a holiday, or get a car, or a puppy, or even just add £20 to your budget every week for luxuries – knowing where that money is going really helps keep you on task!
And that’s it, I really hope you guys found this useful, if you’d like to hear more about my own side hustle (mine’s a local business situation) let me know in the comments down below and I’ll do that for you soon.
Also, if you have any questions about anything to do with side hustles, let me know in the comments down below and I’ll try my best to answer you if I have an answer, if not, I’ll point you in the right direction.
See you in the comments!