Side hustles, in terms of personal finance, refers to the extra effort and hard work you put in to earn some cool cash. “Hustle” communicates a sort of “forcefulness” in action. That’s to say; your forceful execution of plans in order to make legitimate money.
Read on to know more about side hustles.
SIDE HUSTLES ARE…
Side hustles are the things we do to make more money on the “side”. They are ingenious ways to make good money and build a fortune.
Countless people start side hustles every day, some succeed while others fail. To ensure that you don’t end up in the second category, this article explains important aspects to consider before starting side hustles.
- Side hustle ideas
- How to know the perfect side hustle for you
- How to maximize your profits
Let’s get started:
SIDE HUSTLE IDEAS
- Deliver Food and Groceries
- Start A Blog
- Rent your car
- List your house (on Airbnb)
- Help people move
- Be a Handyman
- Babysit or Dog sit
- Work odd gigs
- Take online surveys
- Start a Popcorn Business
- Draw or paint people
- Start a dry-cleaning business
- Do graphic designs for small businesses
- Become an Affiliate marketer
- Start Tailoring
- Start a lemonade stand
- Have a YouTube Channel
- Sell items on eBay or Craigslist
- Recycle used Smartphones on Gazelle
- Drive for Uber or Lyft
- Deliver to PostMates
- Manage Social Media for Small businesses
- Do micro-jobs on Mechanical Turk
- Tutor over Skype
- Get a part-time job
- Create and sell an online course
- Build a sales funnel with ClickFunnels
- Write an eBook
- Produce an Audiobook
- Become a Personal Chef
- Walk dogs
- Clean houses
- Take part in marketing focus groups
- Have a garage sale
- Design Logos on 99Desings
- Teach a language
- Wash and detail cars
- Open a mobile pet grooming service
- Start a food truck
- Become a personal trainer
- Give music lessons
- Write resumes
- Be an extra in movies
- Sell your hair
- Do interior decorating
- Create a smartphone app
- Start a Podcast
As you can see, the list is endless. There are a plethora of things you can start doing today to make money.
The real question then is how to know which is best suited for you.
HOW TO KNOW THE PERFECT SIDE HUSTLES FOR YOU
In life, there is no one size fits all. What works for one might not work for another. The best bet then is to discover what works for you.
If you have a skill, could be; sewing, drawing, singing, or acting, someone somewhere needs it. The right search in the right places, and asking people who know about your skills to refer you would yield great results.
That said, you have to hone your skills and make sure you deliver excellently.
But, if you lack skills, you might want to try your hands at buying and selling. Though you would still have to master the art of selling and marketing.
And finally, if you have no intention of delving into marketing, you can put your assets to good use. Maybe rent out your car or a room in your apartment.
The possibilities are endless.
If you still find yourself in a dilemma and unable to decide, try different things and see what works best for you. It is perfectly normal to do more than one thing. Warren Buffet for example owns over 60 companies.
THIS IS YOUR PERFECT SIDE HUSTLE!
Imagine you got the opportunity to time travel back to when you were a kid. What was it that you loved doing?
It could have been drawing, singing, knitting, or writing. You enjoyed doing it even though you weren’t getting paid. That is what you should be doing as an adult.
Well, because it won’t bore you to death. It is something you can work on for hours without extra motivation.
All you have to do is become skilled at those things. If you loved building sandcastles, chances are that you are a very creative person and would enjoy crafting things and selling on Etsy, or eBay. If you enjoyed writing, you could start a blog, or write a book and sell on Amazon.
You just have to listen to your heart.
And in situations where you need something more “practical”, then consider running a survey. Look for needs that are unmet. For instance, check to see if there is a lemonade stand nearby where people can easily get a refreshing cup of lemonade. Is there a popcorn stand nearby where people can grab some popcorn? If there is none, start one.
These are some of the things to consider. Once, you’ve figured out what you are good at, or noticed an unmet need, go for it.
HOW TO MAXIMIZE YOUR PROFITS IN SIDE HUSTLES
- Set up your Business location or profile
Let’s say you finally started your side hustle. Now, the real challenge sets in. How do I get customers or clients?
Well, that is simple, though simple isn’t always easy.
For starters, you need a proper setup. If it’s physically located, you want to make sure that everything is in order; the equipment and workforce. You want to ensure that your business is seen in the best possible light.
If it’s online, properly set up your profile. Put up appropriate display pictures on social media handles (like Linkedin, Twitter, Instagram, etc.). Rewrite your Bio and description to properly represent what you are doing. Consider curating your previous posts on social media, and also be mindful of your future posts.
Then, hit the advertise button.
You must learn to boldly advertise. It is true that if you build a mousetrap in a village without one, everyone would run to your doorstep, but first, they have to know where it is, right?
See that you invest in advertisements. Tell your friends and family. Post on social media. Create a social media page and pour in some dollars into ads.
And finally, make sure to deliver on your promises. This involves being both on time and doing the job well.
Another vastly ignored aspect of having a side business is the customer service. You may have the best goods or services, yet if you don’t properly address your customers, they would just bail on you – it doesn’t even matter if you’re selling the elixir of eternal youth.
You want to make sure every single customer leaves happy and feeling special. That is how to get referrals.
STRATEGIES FOR GETTING MORE SALES
A major mistake small businesses/side hustles make is selling just one thing. This is a terrible mistake.
Have you ever heard this line “Do you want your Mac with Fries, or drinks, or Sundae?”, or “Coke is better with a bowl of Spaghetti?”. Surely, you must have heard those, and that is the secret.
You must learn to cross-sell.
Sell your Lemonade with burgers. Sell your popcorn with soda. Don’t just sell one thing, sell it with something else.
One upsell may not seem like a big deal, but when you scale it up, you end up making more money from the upsell than the initial sale.
This simple strategy has made McDonald’s franchise billions of dollars. It is so important that if you get caught at the point of sale not offering the “upsell” more than three times at McDonald’s you will be fired. Their data shows that 33% of people who are offered the upsell bought. It turns in billions annually.
Even if you’re offering a service, you can still upsell. If you design websites, for instance, you could decide to upsell SEO optimizations, CRM Systems, or even organizing and Running Ads for the websites.
HOW TO STAND OUT WITH YOUR HUSTLE
One of the notorious killers of business is obscurity (i.e. not being known, or seen by anyone). If no one knows you, or if you are so drab & don’t stand out, chances are that people would pick the more interesting and unique competitor.
You don’t really need to be the best in what you do, but you definitely need to be known by a lot of people. And you don’t get known by just sitting around, no, you have to go for it. Now let me show you how.
HOW TO GRAB ATTENTION FOR YOUR BUSINESS
- Be Honest and Bold
People would respect you for your opinions and bravery. Don’t just agree with what everyone else is saying. Speak your own truth and stand by it even when it might seem a bit controversial. That is why people like Gary Vee and Kanye West are so famous, they’re extreme. You don’t need to be loved by everyone, and in fact, it is impossible to be loved by everyone, so why not get the loyalty of those you resonate with?
- Be Ultra Responsive
Communication is very important. People want to know that you are hearing their complaints and are finding ways to resolve the issues. See that you use their names, to make the experience more personal. Be quick, and attentive.
- Make People Feel good
You must have heard this line before “People will forget what you say, they will forget what you did. But they will never forget how you made them feel”. This is why exceptional customer care is expedient. Talk to them like you care. Find a way to simplify things and ease the burden in their lives. Compliment them, and offer gifts.
- Disrupt the Market place
Everyone is trying to make money. Everyone is trying to hustle for attention. Be different. Be the one that wants to befriend people, and help them. The one who wants to assist them in reaching their full potential, make more money, find love and happiness, etcetera. Be that person. Stand out
- Maintain Attention at all costs.
Once you’ve gotten the attention you need, you have to work to keep it. Keep your customers engaged on social media with educating, entertaining, and relevant content. Wish them Happy Birthday, and Happy New year. Don’t lose touch with them. Keep your business in front of them.
THE TRUTH ABOUT BUSINESSES AND WHEN TO START
Now, I know you want to run off and make your first million within the month, and although it is possible to crush that number, you might not be able to hit that milestone yet.
Business is like a tree. It takes time to grow, and even when it starts yielding fruits, you can’t compare its first harvest to that of a tree that has stayed for over 15 years.
That said, you need patience. You need to invest in your business, and might even make losses at some point, but you need to realize that it is all part of the process.
Take the time to learn and test things. Learn from other people’s mistakes, draw inspiration from their success stories, copy their strategies and implement them in your business. Test and see what works for you.
Like the Chinese proverb says, “the best time to plant a tree was 20 years ago. The second-best time is now”, Start your side hustle right away. Don’t hesitate. You can only know how far you can go when you begin.
“Someone’s sitting in the shade today because someone planted a tree a long time ago” – Warren Buffet (Net Worth: 80.8 Billion in Oct. 2019)
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