Is Your Side Hustle Working For You?

Is Your Side Hustle

Working For You?

More and more people are opting to add a side hustle to their resume, not just to make more money, but as a way to pursue a passion.

Side hustle income can help you pay down debt, contribute to your emergency fund, save for retirement, or allow you to take the vacation of your dreams. There are literally endless possibilities for ways to make extra income, so I won’t get into that here. Instead, I will focus on strategies for how to build the perfect side hustle for you and make the most of your efforts.

Decide What Kind of Hustle Works for You

Whether it’s blog writing, freelance photography, or flipping furniture on Craigslist, there are many ways to find the perfect side hustle for your lifestyle. Creating a hustle out of what you love is important because, even though it’s extra money, it’s also extra work. Think about what your hobbies, interests, and talents are. Next, consider what you want out of it. Is your goal to build a substantial second income stream, or are you more focused on just making a small profit out of a hobby or interest? Do you have plans to eventually pursue this full-time or will it always be a side hustle? Do you have time to commit to a regular schedule or will it be occasional work when you have time? These are all things to consider when determining the right side hustle for you.

Determine Your Source of Business

In order to make money from your hustle, you’ll need to find people to pay for your products or services. First, identify your target market. Are you selling directly to consumers or do you plan to freelance for other businesses? Next, identify key ways to market your business. Whether it’s building a social media presence, using Craigslist ads, listing your services on freelancer sites like Upwork or Fiverr, distributing flyers, joining an industry network, or depending on word-of-mouth referrals, consider which marketing methods will work best for generating leads.

Taking the time to develop a strategy will help you reach your goals and achieve success sooner.

Talk to Others

Reaching out to others – whether it’s a friend or a stranger in the business – for advice can really affect the success of your side hustle. Take the time to reach out to people who can help you – you might be surprised at how willing people are to offer advice and lend a hand.

Start Small

Whether you plan to eventually turn your side hustle into a full time income stream or just make a little extra money on the side, it is important to manage your expectations. Remember that no business finds success overnight! Be prepared to start small. As you gain experience and learn how much you can realistically manage, your business will evolve in a way that fits into your life.

Consider Working for Free

Even though you want to generate a secondary source of income, you may want to consider starting off working for free. This will allow you to demonstrate your talent to new customers, build up your portfolio, give you a list of references and contacts, and build up your experience. A side hustle is an investment of your time and skills, and you should consider focusing on building your business the right way – even if it means not making money right away.

Starting a side hustle is bound to have a few bumps along the road. And managing your 9-to-5, your family, your house, you social life and a side hustle can be a lot. Using the above tips to help you get started will help you ensure the success of your side hustle and help you to enjoy its ups and downs.

Leslie Tayne

Leslie H. Tayne has more than 15 years' experience in the practice area of consumer and business financial debt-related services. Speaker, Author of Life & Debt, Attorney and Founder of the Tayne Law Group, P.C., Leslie is working towards reshaping the debt industry by offering real, proven solutions to help her clients get back on the road to financial freedom.

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