Side hustles are a great way to earn some extra cash on the side and pursue your passions. Whether you’re looking to have an extra income on the side or start a full-time business, plenty of options are available. In the last few years, especially since COVID hit, people have been increasingly looking for extra income. There are many methods to do this, mainly investing and side hustles.
One of the best methods to do this right next to your 9-5 job is to do something for a few hours a day. Side hustles cover this extremely well, and if you do it right, they can even provide a decent income. Additionally, there are people earning $1,000/month or even more from their side hustle. For many, this is quite a lot of money. It helps to supplement your lifestyle or just helps to put some money on the side.
I will give you a complete guide to side hustles and provide the 10 best side hustles nowadays to make extra money. Remember, when it comes to side hustles, the options are unlimited. You can do anything you want, no matter if it’s related to your career or not. Let’s see what the fuss is all about with side hustles.
What is Side Hustle?
A side hustle is any type of business or activity that generates income outside of your primary job or occupation. It can be a part-time job, a freelance gig, or a full-time business that you run on the side. Side hustles can be a great way to earn extra cash and pursue your passions, and they can be especially useful in today’s economy, where job security and income stability can be uncertain.
In personal finances, the most important thing is to have several income streams. Several income streams help you to be more stable, plan better and lower the risks. Side hustles serve this purpose and are just an extra layer of security to your finances.
There are many different types of side hustles that you can consider, depending on your skills, interests, and resources. These might include but are not limited to:
- Dog Walking
Some people have side hustles because they want to earn more money and others have them because they want to explore their interests outside of their day jobs. Side-hustling has become increasingly popular as young people have wanted to “try it before they buy it.” Some side hustles are completely unrelated to their day job, while others can be done at home when not at work.
What is the Most Profitable Side Hustle?
Side hustles could vary from generating $5/hour to thousands of dollars per hour. The market for what you are doing is important. However, saying a specific side hustle as the most “profitable” side hustle is quite hard. That’s because if you do your job right, most side hustles can be extremely profitable if you are not doing something as small as dog walking.
In my experience, there are some side hustles that grow to be extremely profitable. You can grow them to an unlimited level in contrary to other side hustles that you can’t grow in revenue. Some of these side hustles that can grow to be extremely profitable could be:
- Freelancer (e.g., copywriting, digital marketing)
- Social media management
These can grow in revenue quite fast because of the type of side hustle. You can get as many viewers as you can to your blog or customers to your e-commerce store. The more social media accounts you manage, the more money you will make. It’s all about your perspective and what you think you are capable of doing.
In terms of “profits,” I think if you are earning somewhere between $1,000-2,000/month from your side hustle, you are doing an extremely profitable side hustle. That’s good money wherever you are in the world for a few hours of work a day.
What is the Easiest Side Hustle?
Side hustles come in a variety of difficulty levels. Some are extremely hard and require intense education to learn, and some don’t require any education or sometimes even effort. However, this doesn’t mean that there is an “easiest” side hustle.
Determining the “easiest” side hustle is difficult, as it largely depends on your skills, interests, and resources. Some side hustles may be easier to start and manage than others, but they may not be as profitable or fulfilling. Some side hustles don’t require any time to start, but some require months to build.
I think the “easiest” side hustle is what you are comfortable with. Walking dogs seems like a very easy job, but if you don’t like walking or dogs, this side hustle suddenly becomes the “hardest.”
Finding a side hustle that aligns with your skills and interests and that you’re passionate about is important. This will help you stay motivated and dedicated and increase your chances of success.
How Can You Start Your Side Hustle?
Many people start side hustles as a way to supplement their primary income, while others use it as an opportunity to turn their passions into a full-time business. But whatever it is you have in your mind, you might not know how to get started. Most of the time, you need to spend a huge effort if you want to have a scalable side hustle.
Especially with side hustles like copywriting, freelancing, blogging and e-commerce, it takes months or even a year before you see any results. You need to know this, and you need to plan like this and not plan for success in the first month. That’s why you need to be extremely prepared and have a good roadmap.
To create this roadmap, you need to know the steps and how you can take them in detail. Here are the things that you can do and can help you get started:
Identify your skills and interests
The first step in starting a successful and income-generating side hustle is to identify your skills and interests. What are you good at? What do you enjoy doing? Do you have any expertise or experience in a particular field? By answering these questions, you can narrow down your options and find a side hustle that aligns with your strengths and passions.
Research the market
Once you have an idea of what you’d like to do, it’s important to do some market research to see if there is a demand for your product or service. Look for similar businesses in your area or online and see how they are performing. This will give you an idea of the competition and help you determine if there is enough demand for your side hustle.
Create a plan
A well-crafted business plan is essential for any successful side hustle. It should include details such as your target market, pricing, marketing strategies, and financial projections. This specific plan will help you stay organized and focused as you start your business.
Set up your business
Depending on the nature of your side hustle, you may need to set up a business structure, such as a sole proprietorship or LLC. You’ll also need to obtain any necessary licenses or permits and set up a business bank account and payment systems.
Promote your business
Once your side hustle is up and running, it’s important to promote it to potential customers. There are many ways to do this, such as creating a website or social media presence, networking with potential clients, and advertising in relevant publications or online platforms.
Manage your finances
Proper financial management, both in personal and business life, is crucial for the success of any business, including a side hustle. Make sure to track your expenses and income and create a budget to help you stay on track. It’s also a good idea to set aside some of your earnings for taxes, as self-employed individuals are responsible for paying their own taxes.
10 Best Side Hustles That You Can Do
Every side hustle is unique to itself. I believe that there are no “best” side hustles on their own. Whatever you enjoy doing and whatever you are good at, that’s the “best” side hustle for you. “Best” is not a general word for side hustles. It’s personal. However, there is some stuff that is more popular than others.
That’s mostly because the demand is way bigger than others. The potential to earn more money is there, and also easier to start. Instead of building something from scratch like a business, you can get started with these in just a few months and get your clients. Especially now, the platforms to match the seller and the buyer together are increasing. Here are 10 side hustles that I think are best for many people.
If you have a way with words and enjoy writing, freelance writing could be a great side hustle for you. There are plenty of websites and companies that are looking for writers to create content for them. You can specialize in a particular area, such as tech, finance, or fashion, or you can offer general writing services.
You could consider offering online tutoring services if you’re an expert in a particular subject or have a teaching background. There are many websites and platforms that connect students with tutors, and you can set your own schedule and rates.
Virtual assisting involves providing remote administrative, technical, or creative assistance to clients. You can offer a wide range of services, such as scheduling appointments, managing social media accounts, or editing documents.
If you have an eye for design and are proficient in software such as Adobe Creative Suite, you could start a graphic design side hustle. You can offer services such as logo design, social media graphics, or website design to small businesses or individuals.
If you have a passion for writing and enjoy sharing your thoughts and experiences, you could start a blog. You can monetize your blog through advertising, sponsored content, and affiliate marketing.
Dropshipping is creating an online store and selling products you don’t have in stock. When a customer places an order, you purchase the product from a third-party supplier and have it shipped directly to the customer. This can be a low-risk and low-investment way to start an e-commerce business.
Social media management
If you have a knack for social media and know how to create engaging content, you could offer social media management services to businesses or individuals. You can help clients grow their following and increase engagement on platforms such as Instagram, Twitter, and Facebook.
If you have a love for organization and planning, you could start an event planning side hustle. You can offer services such as wedding planning, corporate events, or birthday parties.
If you love animals and have some free time on your hands, you could consider starting a pet-sitting side hustle. You can offer services such as dog walking, pet sitting, and overnight care to busy pet owners in your area.
Teaching online courses
You could create and sell online courses if you have expertise in a particular subject. There are many platforms that allow you to create and sell courses, and you can set your own schedule and rates.
Starting a side hustle can be a great way to earn extra income and pursue your passions. With a little bit of research and effort, you can find the best side hustle for you and start making money on the side. It might take some time, effort, and even money, but they generally give you a good income without too much continuous work.
You have to take quite a lot of things into account, do your research, and take the first step instead of always thinking about what you can do. The rest will follow suit, and you will start generating income in no time. Remember to be consistent and dedicated, and you’ll be on your way to success in no time.