WHAT YOU SHOULD KNOW BEFORE YOU START A SIDE HUSTLE BUSINESS

 

We all know what a side hustle is, but I will define it anyway. This is a part-time venture one sets up to boost their income despite having a salaried job.

“The Dream is free. The hustle is sold separately.”

The Choices

The choice for your side hustle is mostly determined by your skill set, your day job, projected income, and/or the time you can set aside to perform it. The advantage you have when you venture in what you understand is, you will do it effortlessly, near-perfectly and you will earn more.

Normally, these part-time activities are not carried out in the office. Making time for your side hustle business can be challenging because of the many other activities competing with your limited time outside the workplace. You have a full-time job, family, school, socializing, relaxation the list is endless.

Most people I know wake up at the break of dawn, when they are fresh and energetic. I am not a morning person so I work on my projects (like this Blog & others) while commuting to and from work, and during my lunch hour. People have different concentration levels so find your best time of the day and grind.

The Approaches

There are two main approaches to side hustles; offering services or selling merchandise.

I chose to offer a service which went hand in hand with my skills. Being a trained secretary and administrator, a hustle as an assistant looked both manageable and lucrative. Therefore, I formed a virtual assistance business called The Smart Aid.

You may choose to provide services as a/an: administrative assistant, virtual assistant, transcriber, translator, accountant, IT specialist, writer, photographer, graphic designer, programmer, video editor…the list is endless. The choice lies in your capability and passion.

A side hustle that involves selling merchandise often entails more logistics to be put in place before the venture takes off. You have to have capital to start, employees to help run the business, a business permit, a health and fire compliance, an advertising budget, an insurance cover, security… the list goes on.

For a beginner or a busy person running such a hustle may be overwhelming. You can only hack it if you have a trustworthy team, and that might be challenging to put together.

I once had a beauty shop but since I was not involved full-time and had limited resources to ensure that security was tight, it turned out to be both costly and stressful. I had to close shop after 6 months.

Do not be afraid of failing because in life failures are merely lessons.

In this digital age, we should embrace the idea of going online. Creating an e-commerce website can prove to be convenient since you will be involved fully. Processing orders, deliveries and payment will be easy for both your clients and you. Ensure that your side hustle is manageable and improves your cash flow, otherwise it may be a waste of time.

Now, I have to ask, which kind of side hustle you have and what time of the day do you do them?

12 Comments

  1. Nice article.
    To answer the question.
    Well, I hustle through academic writing and I do them at any time of the day when I have some free time.

  2. Loved reading this post! I’m doing all of my side hustle work in the evening (blog and photography), as I feel most focused at that time of the day. No more mobile phone calls, no more emails that could disturb, and I can concentrate on my work only.

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