Get Extra $1,000 Money From Side Hustle Business
You use money for many things such as paying bills, food, rent, mortgage, healthcare, car, loan, debt, transportation, entertainment, and all needs in this life. In fact, money can buy almost everything unless you have something valuable that cannot be measured by currency. Everyone likes money and working is the most common way to earn it.
You work from Monday until Friday that follows a usual nine to five schedule. As a full-time worker, you must complete the tasks and any jobs from your superior. On the other hand, your salary is barely enough to make a living. The situation becomes severe when you still have a student loan. It takes time until you settle down and get enough money from the right position.
In order to fulfill your need, you should consider having a side hustle. The term refers to a job or business that you do outside a regular employee. For example, you work as a freelance photographer during the weekend and earn extra money. More side hustle ideas are available that you can choose based on your time, situation, passion, skill, knowledge, and experience.
Definition of Side Hustle
Before exploring the idea, you should start by understanding the side hustle. Some people might not know what this is unless you use a simple example. It is the way you make money that is separated from your full-time job. There is no limitation on what kind of business or job you do as a side hustle. As long as you earn extra money, it is worth your time and effort.
People start finding new sources of income due to some reasons. The most common factor is their salary cannot fulfill their wants or needs. Rent, loan, bill, food, and all basic needs are done by regular salary. You still have a bonus at the end of year and salary increase after adjusting with inflation. The truth is you need more than what you earn today.
The side hustle starts as a side job or business. You may expect it can supply you with more money for years ahead. In the future, you should think of side hustle as a full-time business if the growth is promising and significant.
Developing Successful Side Hustle Business
After seeing some success stories, you want to do a side hustle. Even though it is not your main job, you must take it seriously. As you know, serious business will bring more profit. If you treat this one as a fun activity, extra money might not come. For a starting point, you can check the following list as a reference.
1. Your Interest, Skill, and Passion
You start exploring trends, passion, and skill. Doing what you like is a better motivation. You like writing and freelance writers seem like a good idea for a side hustle. If you do not know anything, explore the most popular trend today. This is the simplest way for finding the idea. The Internet is a good source if you look for various ideas. Brainstorm with friends and colleagues about business opportunities. The idea might come from an unexpected place or situation. That’s why you do not stop exploring. It starts from yourself such as passion, motivation, interest, skill, experience, knowledge, and the latest trend you know. Even though the idea is old, there is still opportunity as long as you can make it profitable.
2. Start Early and Invest Money
A side hustle is not a hobby because you start investing money. You like photography and buying gears is definitely the initial investment. You must save some money from your salary and start early. It takes time until money is enough for your side hustle. Investing is necessary when the business requires marketing, promotion, and a website.
3. Avoid a Conflict of Interest
Starting a business venture is not an easy task. You are still an employee who must go to the office and complete the task. In this situation, you should put a full-time job as a top priority. Relying on a side hustle is a big risk due to uncertainty especially for new business. One of the best pieces of advice is you avoid a conflict of interest. If side hustle is related to your work and company, it is necessary to step down because the company might see you as a competitor. Find something that is completely different from your recent work. With this side hustle, you still have the commitment to do a daily job while managing side hustle separately.
4. Planning and Schedule
Planning is everything including the schedule. You start with business analysis after finding the right idea. If the business requires investors and more capital, you prepare a business proposal. Planning includes all necessary actions and activities to support your side hustle. Creating a website, posting content, and updating blogs are examples of tasks for your side business. Make sure they are in your schedule. You enlist everything and put it into a schedule. This step includes managing time because you must work from morning until afternoon.
5. Full-time Job as an Employee
Business is launched and you expect growth soon. However, do not forget your primary job. Relying on a side hustle is a disaster when you do not have enough paycheck for daily needs. Your company pays you and the money is the reason for your survival. Some people like taking huge risks and retire from a full-time job for a new business venture. This is a bold move and they must have a safety net. Based on a study, new business has a high probability of failing in the first year. This is for full-time business and side hustle definitely has a higher probability.
Becoming an employer is your dream and it starts with a side hustle. On the other side, you do not forget preparation when developing a side hustle. Any business is worth trying as long as you understand how to do it properly.
List of Top 10 Ideas for Side Hustles
The next section will explore the top 10 ideas you can choose for a side hustle. In fact, tons of ideas are available from simple and common until complex and unique. You just pick the right one that is compatible with your passion and interest.
1. Dropshipping Business
The first idea is a dropshipping business. It became popular a few years ago. In fact, you may find many people do this business. Competition is tough and you compete with the direct producer. In general, the business focuses on selling. You do not need a store or inventory even if you do not see the product at all. You act as an intermediary between seller and buyer. One common question is why the seller lets you sell his or her product. Selling directly will increase profit. You enter this business because you know niche markets and how to sell. People want something and you know how to fulfill it. You contact the seller and do a transaction.
Due to simplicity, more people enter this business. You must find customers and markets with unique characteristics. It starts with your personal interest. You like cooking and know more about kitchen utensils. With this knowledge, you sell kitchen sets from manufacturers and reach certain customers for transactions. This business has some benefits that you put into consideration. You do not need to store and buy products directly. Therefore, money is safe and you focus on marketing. There is no limitation on the type of product you sell. As long as people buy, you can sell almost anything.
2. Freelance Writer
The next idea for a side hustle is a freelance writer. Website, product, marketing, article, social media, and book are media for writing. This business relies solely on your writing skill. You may just be a regular office worker but have been reading tons of books and articles. If reading is your hobby, becoming a freelance writer is the best option.
In this business, you must set the high bar for quality. Most writers spend excessive time writing many articles but payment is not enough. Instead of extra money, you end up exhausting your mind and body. You start with finding the right client. For a beginner, creating a portfolio is the best starting point. Clients want to know your skill and result. You aim for a high-quality article that gives more money. Today, many platforms offer a free marketplace for freelance writers. You should try to write only after office hours or during the weekend. Keep in mind that this idea is for people who like reading and writing. If both are your passion, becoming a freelance writer is worth your time.
3. Gig Economy
Gig economy emerges alongside internet inception. You find platforms that promote and trade unique skills. This is where you find side hustle based on your skill and knowledge. The most common example is writer and designer. On the other side, a gig economy will adjust with trends and follow what the client requires. You are a web developer and the side hustle should be related to website development. You offer your service in that marketplace and wait for orders.
4. Affiliate Marketer
You should consider affiliate marketing as a side hustle. You find the right product and sell immediately. It sounds like a dropshipping business but you receive a commission. Dropshipping business is buyer buys from you and product is sent from the seller. The name of the seller might not be on an invoice unless certain terms. In this case, you act as a product.
The situation is different when you become an affiliate marketer. The simplest example is you make a website and add advertisements. People click the banner and visit the page where they can buy. The system recognizes that they are from your website. If they make a transaction, you get a commission based on how much they spend. This is what people call an affiliate marketer. Your job can be passive or active depending on how much you want to earn.
You use various media for selling and trading. Websites are the common media for promotion and get more buyers. You should consider social media, blogs, even direct sales. What you get is commission and the price of goods is still similar in any marketplace. As a drop shipper, you can sell at any price as long as the sellers receive their cut. You take full profit. Both will bring extra money and you should combine them.
5. Selling Product Information
You are good at something and it is time to monetize. You can use your skill for selling product information. This side hustle has the potential to bring more money. The problem is most people choose the market with high competition. Selling information means you have a product called information that people want. For example, you know about diet and experience the effective method to lose weight. With additional research, you write your knowledge and make a book.
It sounds simple but you will face some resistance from people. They think twice when buying such a product. Direct marketing is definitely out of option even with smooth talk. You start with data and make them your product will bring the greater good. In this business, a niche market is the best option. The competition is low and products become more profitable.
The old method to earn extra money is blogging. In fact, some people can make living just by blogging. This term refers to a platform where everyone can make websites freely. Today, blogging is available on various platforms. You just pick the right one and add your own domain to increase credibility.
Blogging is a side hustle that takes effort, time, patient, and money. The initial investment is small due to you just paying for a premium blog or web hosting including domain. As a beginner, people add contents that become trends such as beauty, movie, music, foods, travel, cars, and sport. You will compete with millions of blogs with the same style and theme. If you can deliver something different, the audience will come and the blog grows steadily.
You can make money from blogging with several methods. The easiest one is you let advertisers put their banners. An affiliate marketer is also another option to consider. You can use blogs to promote your own product or dropshipping. If your blog is a niche market, some sponsors will consider financing your blog as long as they receive the benefit. Many methods are available to monetize blogs or websites. It takes time because you cannot build traffic and audience in just one night.
7. Photography and Graphic Design
Photography is an excellent choice for a side hustle. The money is lucrative if you can make high-quality photos. You monetize this business with several options. Firstly, you sell your skill and people pay after you do your job. As an alternative, you take photos of certain objects such as nature, animals, community, house, food, and many other things. After that, you sell them on the photo-sharing platform. Some of your photos are free and people can download them without paying. Furthermore, you provide premium content with the best quality.
A graphic designer is also a side hustle that becomes popular today. Logo, banner, card, wedding invitation, even social media posts are products of graphic designers. You may combine photography and design to deliver comprehensive service. You create a portfolio and people will hire your service. If you do not look for a client, selling designs and photos seems the right option.
8. Instagram Influencer
Decade ago, you do not know what the Instagram influencer does. This job sounds unfamiliar because the internet and social media were not available. Today, you become famous not just as a movie actor or singer. In fact, you consider Instagram as a stepping stone to attract more potential clients for doing business. You have many followers and this is the right time to monetize your popularity. Influencers will receive contracts similar to marketers. The exposure has a significant impact on the product. This business sounds simple but building and developing a high-quality account takes time. You must have consistency and choose a theme for your post. Companies often use influencers as brand ambassadors.
9. Virtual Assistant
A virtual assistant is a side hustle that you can do anywhere. Your job depends on the things clients ask. As a virtual assistant, you complete tasks remotely. The most common job is you manage social media accounts. Some influencers do not have time to manage posts and preparing content. This is when they rely on an assistant. Another task is an online shop for handling orders, customer service, and transactions. You handle accounts in several markets. The shop receives an order and you send an invoice to the owner directly.
Before applying as a virtual assistant, you need to pick the right client. Most tasks are easy and simple that everyone can do. However, some assistants must provide a license or certificate when handling a specific job. You get paid based on an hourly wage. This job can be done at home as long as the internet is available and the connection is stable.
10. A Part-Time Job
You need extra cash and a part-time job is a real solution. Some people still see a job as work you do for others. If you do not have a choice, having several part-time jobs seems to be the best solution. Examples of this side hustle are bookkeeper, nurse, barista, receptionist, restaurant server, and administrator. As long as you have skill and time, any job can be done properly. One issue is you must sacrifice time and energy for extra money. It is quite similar to how you work over the hour. Some jobs are unique such as you walk a dog. If you can handle at least five dogs, there is a chance you get more money. Having a part-time job is a trade-off you must choose wisely.
Some Other Ideas
The list above only provides what most people choose when starting a side hustle. In fact, you will find some skills and opportunities that people want. Check the following section for additional ideas reading side hustle.
Running an online shop is the first thing you can do to obtain more income. Today, several marketplaces provide features and supports that are compatible to develop online shops. You have two options when preparing this kind of shop. Firstly, you make a website for an online store. It should have a transaction platform with high-security protection. If you do not know about websites, the second option is the best you can do. Instead of creating a website, you register on a marketplace and open an online shop. You are a member and only focus on selling. System platform and technology will be the responsibility of the marketplace developers.
Food and Beverage Business
You can make money from the food and beverage business. This is the real side hustle that people choose. If you look for business ideas, explore what human needs for staying alive. Food and culinary business has always been available since ancient times. You can start with catering that provides food for the events. People think this business requires cooking skills. Having such skill is better but the owner does not have to be proficient and skilled with cooking. Another related idea is a food stall. Places, where people gather and do outdoor activity, will be the right location for a food stall. If you have more money, buying a food truck seems to be a good option.
You can register as a seasoned nurse for elderly care. This side hustle is suitable for a person who has the utmost patience. You just participate in basic training and obtain a license. After that, you visit elderly care and do your job. Payment is enough for your side shopping.
Another idea for a side hustle is a private tutor. It is mostly for high school or college students. You know math and science. With this skill, you provide a private tutor while visiting the client directly. On the other hand, you consider online tutors and provide premium offers. Some platforms are dedicated to this business. You may use them or create your own website. Being a tutor requires commitment and dedication including professionalism. A tutor is not just related to school and college. You have skills such as dance, music, machinery, sewing, cooking, make-up, and public speaking. Any skill with high demand is worth a professional tutor. This is where you will earn more money.
You have a licensed profession and want to earn extra money outside your daily job. The answer is you practice your own skill. Becoming a consultant is a side hustle you should consider. You provide a solution for the client regarding a certain situation. Lawyer, accountant, and financial planner are examples of professions with licenses. Clients will see your credential before hiring and consulting. This job can be implemented alongside a private tutor. You teach and earn money from the tutoring business. After that, clients ask regarding your expertise and you earn money after giving consultation.
The Internet creates opportunities for new kinds of business. It is a content creator that involves various fields. In general, you provide services to produce content for digital media. The most common offer is a video and editorial advertisement. The video seems to enter a new era when people choose watching rather than reading. As you know, video-sharing platforms receive billions of views per day. The company makes videos for promotion. You can create branding yourself and gain more views. After that, your channel is monetized and the owner gets the money.
A side hustle is not just money, though this one is undeniable. You develop skills, create a portfolio, build a personal brand, and get more freedom. When seeing the opportunity, you take it quickly and start a new business. Some side hustles might be your profession in the next few years. You do not know what will happen in the future. Your full-time job is not eternal. A side hustle will be a new starting point for your journey.