Starting up a side hustle in order to supplement your income is a very common thing. However, what’s less common is thinking ahead about how good your planned side hustle is going to be.
Sure, you can make a bit of money here and there, and you think to yourself that all you need is a bit more time to dedicate to it, but a side hustle should never cost you more than it makes you.
And that’s why you need to do some research here, and weigh up all the pros and cons of any side hustle you’re interested in – some are much better than others, and you need to focus on those alone.
Any kind of side hustle you’re thinking about starting needs to have some kind of passion behind it. It needs to be something you feel strongly about, and feel like you could commit a good chunk of hours to week by week.
Let’s say you’re thinking about becoming a freelance writer or editor – if you don’t love to do either of these things, and in fact you find them very boring, you’re not going to be able to rack up either the experience or the working schedule you need to make money out of it!
All in all, make sure the side hustle you’re thinking of has some passion behind it. Make sure you’ve got a good idea and the willingness to make something of it.
A good side hustle is also flexible. It’s something you can work on in your spare time, whenever you have some (which isn’t always), and doesn’t make your bank account suffer in the meantime. Mostly, flexibility means offering you what you need when you need it, and removing obstacles from your working life otherwise.
For example, if you wanted to start running deliveries, because you’ve got a perfectly good load bearing vehicle outside, using a website like Shiply would help you pick and choose the best jobs available. And plenty of online services and virtual job boards exist out there, so make sure you’re signing up to them and widening the pool for the ultimate flexibility you need.
And finally, a good side hustle needs to have potential to it; namely, it needs to have the chance to make you a lot of money in the long run, without incurring too many costs that’ll drag your profit pool right down.
For example, if you were thinking about signing up to a service that requires you to buy a shed load of product ahead of time, and then earning commission on only the things you sell, you’re not going to have the earning potential you need. You need a different, more stable side hustle here, that both keeps you in charge and isn’t more trouble than it’s worth.
Your side hustle needs to match up! It needs to be something you enjoy, something that’s flexible, and something that has a lot to offer.