Side hustle. What is it? According to Wikipedia, a side job, also informally called a side hustle or side gig, is an additional job that a person takes in addition to their primary job in order to supplement their income. Side hustles are more common than you think. People need more income and so they take on a side business; even the students do. As common it is, side hustles are also more likely to fail. The reason behind this is that most don’t plan their side businesses well.
There are some things you should do and some you should avoid for a successful side hustle. So, let’s run through a few-
- Start Small: First thing to managing a side hustle is taking baby steps. Start with one paying customer. You have to keep in mind that a side business while maintaining a full time job is difficult. So, you have to be in it for the long haul. Don’t go building castles on thin air which will only lead you to failure.
- Time Management: The key is time management. You cannot take time out of your primary job to work on your side hustle; that is utterly unethical. You have to plan for working and amassing skills for the side business in your down time. Do you have to work harder? Yes. But what good thing doesn’t?
- Focus on Revenue: A side hustle is usually for increased income. So, be laser focused on generating revenue. It isn’t meant to be a huge corporation; act accordingly. Focus on getting customers and show more effort where the customers are concerned.
- Plan Your Finances: Since a side hustle is for generating revenue as much as possible, you have to be extra careful about your finances. Spend money wisely. You don’t need a fancy car or a fancy office for your side hustle. So, don’t go spending money on them. Spend money on things that make a real difference or things that satisfy your customers.
Maintaining a side hustle is hard. You will need a lot of determination and grit. You will need to learn a whole lot of things in a limited period of time. So, gear up and get ready.
Intern, Content Writing Department, YSSE.