Don’t Forget To Build Your Brand
If you do a Google search right now for the best money-making side hustles, you will find articles that feature a few hundred different ideas.
These posts are a minefield of ideas, but how does that relate to you? How do you know which side hustle is going to be good for you?
Maybe you have your Side Hustle going on for a few months now and you are looking to quit your day job and focus on your Side Hustle. But, is it a good idea? Are you ready to take the plunge?
So, the first thing you need to do is to make a list of the things you are passionate about. This includes your hobbies, yes you can make some money by doing your hobbies, skills, and your interests.
Starting with hobbies is always a good idea because it means you can do these tasks without getting bored. Skills are also a good thing to include on the list because it is something you know you can do easily. If you have music skills, then you can think of ways to make some money off of music. Lastly, listing down your interests will help you further narrow down the things you want to do.
In this article, I will go to answer this important question so you can be on your way to earning your first dollars from your Side Hustle!
Best Money-Making Side Hustle
Ideally, what you want to do is to choose a side hustle that you are passionate about, is relatively easy for you to do, and is something you are deeply interested in.
Keeping yourself motivated while doing your side hustle is important because you are working solo. If you let your motivation slide, then you are going to fail. So, right from the get-go, it is best to choose something you are doing to like doing for a long, long time.
Many people have turned their side hustles into full-time careers and businesses. But it most probably took them years. It took a lot of hard work and dedication. They also learned from their failures and mistakes.
Succeeding with your money-making side hustle will mean developing an entrepreneurial mindset. This means not being easily discouraged, and the ability to think outside the box. Entrepreneurs think big and they focus on their long-term vision. They don’t sweat the small stuff.
If you want to turn your side hustle into a successful business venture someday, then focus on that goal. Do everything within your power to ensure your dreams come to fruition. There is no better validation that you chose the right side hustle than by actually succeeding at it.
If you want to succeed with your side hustle and make it to a money-making side hustle you can make mistakes, but not too many. Analyze your situation first and see if you are making the right decision.
Here are some reasons why you should not quit your day job too soon:
- Your Side Hustle Income Has Not Replaced Your Day Job Income – You really should not quit your job if your side hustle isn’t even generating enough profit yet. You don’t want to lose your main source of income now, do you? If you don’t have any money saved up, how are you going to put food on the table? It would be irresponsible of you you quit without thinking about your finances though. Especially if you have a family that depends on your income.
- You Still Enjoy And Love Your Day Job – It is going to be hard to leave your job behind if you know you are going to miss it. You have probably built relationships with your co-workers and you would feel sad if you don’t see them and get to hang out with them nearly every day. If you are not ready to say goodbye yet, then stay a little while longer. Your side hustle can wait.
Likewise, if you feel like you have a good chance of moving up the ladder and it is something you want to go for, then don’t leave just yet. If you have a stable job with good benefits, then you may want to think extra hard before quitting. Weight the pros and cons so you can make an informed decision. - You Are Not Sure If Your Side Hustle Will Remain Profitable – You love working on your side hustle, but you are not sure if it is going to be profitable for much longer. Sure, you can look for other side hustles, but it is going to mean starting from scratch. In that case, you will need to delay handing in your resignation letter.
Just remember that when you do decide to focus on your money-making side hustle, you are going to be your own boss. This means you are going to pay your taxes, insurance, business expenses, etc.
As you can see, it is going to take a toll on your finances if you don’t think everything through!
Some evergreen money-making side hustles easily can generate an extra $500-$1000 a month. It may seem impossible right now but these online side hustle ideas have the potential to be highly profitable.
- Blogging – You may not see an immediate ROI on blogging, but the good thing is it is pretty much passive income when you start getting some traction. The sky is pretty much the limit when you think of the income you will get when your blog gets a good amount of traffic from search engines and social media.
- Affiliate Marketing – You can promote your affiliate links on your blog or your social media accounts. Just make sure you promote something that is going to add value to your followers.
- Video Marketing – You can promote sponsored products via video marketing. You can do video reviews and tutorials on YouTube and monetize them with ads and affiliate links.
- Social Media Influencer – When you have a considerable following on social media, and you get pretty good engagement rates on your content, then you are technically a social media influencer. You can easily command premium rates from brands who what to do business with you.
- Social Media Manager – Not all businesses know what to do with their social media accounts. As a social media manager, you have the opportunity to make a significant impact on businesses. The great thing is you can have many different clients at the same time because it is relatively easy to automate social media activity.
- Sell Information Products – Selling eCourses and eBooks are very popular nowadays. It is relatively easy to create content like this, and it is easier to just outsource it to freelancers who can write faster and better than you.
- Freelance Work – If you are interested in freelancing online, like writing, designing, building apps and websites, etc, then you should check out sites like UpWork and Freelancer. Note, however, that these are global marketplaces. So, you will have people from all over the world competing on price and skills. If you want to set yourself apart from the competition and you are extremely confident in your skills, then don’t be afraid to bid rates you know you deserve.
This way 10 tips you really should think over because they will help you succeed with your money-making Side Hustle.
Your Day Job & Your Side Hustle
Having both a day job and a side hustle can be tricky, but there are some things you can do to learn how you can easily juggle your day job along with your Side Hustle.
Here are the top 4 tips:
- Have A Solid Plan In Place – Even the best-laid plans can go awry. How much more if you don’t plan at all? You are going to find it extremely hard to succeed!
For best results, you should ideally have a short-term goal and a long-term goal. For your short-term goals, you can plan out your week or your month. Then for long-term goals, think about where you want your Side Hustle to be in 3 years or 5 years. Do you think you will be leaving your day job by then? If yes, then make it into one of your long-term goals.
For every milestone you achieve, reward yourself. After all, it is not easy working on a side business when you have a full-time job too. - It Is All About Time Management – Let’s face it – having a side hustle along with a full-time job may leave you bone-tired at the end of the day. But if you are looking to make both jobs work, then know that it is very much possible. You just need to know how to manage your time.
For example, if you work from 9 am to 5 pm, you can factor in time before or after your shift to work on your Side Hustle. Say, you can work from 5:30 pm to 10:30 pm on your Side Hustle. And then on weekends, you can work on your Side Hustle business the whole day if you like. - Learn To Make Sacrifices – Whether you like it or not, you will be making sacrifices. You may need to cut down on some of your favorite things to do on your days off. Previously, your weekends may have been dedicated to Netflix binges or partying with friends. While you donät need to transform into a total bore, you may need to seriously cut back on the fun stuff, and you know, focus on adulting and working on your Side Hustle.
- Save Your Additional Income – You are free to do whatever you want with your extra money. However, if you want to feel like you are doing good with your life, then it is best to save up income from your Side Hustle. You can also look into making your money work for you by investing in a variety of financial instruments like stocks and bonds.
Even if you have no plans of ever leaving your day job to turn your Side Hustle into a full-time business, it is still a great idea to think about branding your Side Hustle.
Here is why you should brand your Side Hustle:
- Your Brand Stands For What You Want To Be Known For – Branding is more than just a brand name and your logo. It is how your clients and customers perceive you and your business. Even if you have a ton of competitors around, you can still make yourself stand out by branding yourself as someone with a serious edge over everyone else.
For instance, if you are a graphic designer, you may want to be recognized as someone who only works with premium brands or established businesses. You don’t compete on price, that is, you are not worried about your competitors offering cutthroat prices for the same service. You know you offer a valuable service that all your clients love. - How People Perceive Your Brand Dictates The Amount Of Business You Get – The more people perceive your brand positively, the more willing they’d be to do business with you. The opposite is also true – If people perceive your brand negatively, then you’d either need to rebrand from scratch or try to repair your reputation.
If you were to choose, of course, you’d want people to recognize your brand as someone they’d want to do business with. To do this, you need to go to great lengths to take care of your reputation.
In this day and age where social media reigns supreme, a tiny mistake can easily cost you your brand. A small complaint can quickly snowball, and you can lose your reputation in a heartbeat. - Branding Creates Trust And Recognition – Get the word out about your business and be consistent with your message. Don’t change your brand’s message on different platforms, rather, strive for consistency. The more people see and interact with your brand, the more they get to know you.
Sooner or later, the work on your brand pays you back and people will start to see you as an authority in your niche or industry. This way, you will gain your trust.
Don’t make people regret their decision. Do everything aboveboard and above reproach, and you will be rewarded with a profitable side hustle for yours to come!
Wrapping Up
Even if you are earning top dollar in your day job, you may still want to think about getting a side hustle, as an internet business or as an offline business.
But how do you know if your idea will be a money-making side hustle? Google will show you hundreds or even thousands of articles/blogs of different ideas. How do you know which of these side hustles is going to be good for you?
One of the most important things if you want to have a money-making side hustle is to choose a side hustle on a niche/theme you are passionate about, and already have a lot of knowledge about. This will help you on your way in many terms.
Follow the tips and ideas in this article, and I am pretty sure you will come a long way with your money-making side hustle.
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