20 tips to help you start a side hustle

Starting a side hustle starts with knowing what your skills are and which ones you can monetize. Before you officially begin your side hustle, identify your skills and determine which have the potential to take you the furthest. 

If you doubt that you can make money with any of your current skills (first, remove your self-doubt), learn a new skill. There are loads of tutorials and classes available online to teach you a new and marketable skill. 

If you’ve got an embarrassment of riches as far as marketable skills are concerned, identify gaps in the market and choose your side hustle from there. You’ll make a bigger splash if your chosen side hustle isn’t already oversaturated. 

Social media can be an amazing tool for side hustles. You can use it to market your skills and get in touch with people who will be of use on your journey. Use the online network you’ve already built (if you have one) to bolster your new business. 

Certain social media platforms are going to be of more use to you than others. If you’re not on platforms that have the potential to put you in front of the biggest or the right crowd, join those platforms and quickly learn how to use them. 

Online marketplaces are great places to earn money and gain experience. They’ve got strategies for survival all unto their own, but the positives usually outweigh the negatives when it comes to online marketplaces. 

Lots of business comes purely through word of mouth. When you start your side hustle, be sure to network and tell people what you’re trying to do. You never know what connection could lead to business. 

There are loads of opportunities for online networking, too. If your side hustle is a business that’s not particularly relevant to the people in your physical community, join one online to spread the word about your services. 

Organization is key when it comes to managing a side hustle, especially if it’s on top of a full-time job. Before you begin in earnest, get the necessary ducks in a row so that you’re not scrambling to get organized when you have legitimate clients. 

If you want to keep your side hustle just a side hustle, you may not find this necessary. But if you envision your side hustle becoming your full-time job one day, make a vision board. You’ll find that keeping your goals somewhere you can see them is highly motivating. 

Before starting your side hustle, take a moment to read about all the financial implications (aside from making more money) that come with it. There are plenty of resources available to tell you all you need to know regarding side income. 

Side hustles can be tricky to balance, so set a schedule when you begin your work. It can be helpful for your clients to know when they can reach you, but it’s even more helpful for you to know when you need to be on and when you can quit for the day. 

Keep track of the actual amount of time you’re spending on your side hustle, too. As you continue, knowing how long it takes you to complete something will help you improve efficiency and tweak your pricing. 

Speaking of pricing, figuring out how much to charge clients is one of the most difficult parts of starting a new business. Take some time to research what others are pricing, and factor in how long it takes you to do the work, as well as other necessary figures.

Some side hustles are completely free to begin, but others require some startup costs. Estimate how much it’s going to cost you to start your business before diving right in so you know you can afford it. 

Depending on the side hustle, you might not need to be incorporated as a business. For example, if you’re doing freelance work, you can operate without a formal business. Figure out what works best for you and ask an attorney or tax professional for guidance. 

Side hustles can be just that: On the side. There’s no need for them to become full-scale operations within a year. If you just want to earn some extra income by doing something you enjoy, start small and see where it goes. 

Every venture comes with risks, so before you start your side hustle, consider what risks accompany it. Don’t take it as discouragement, but be realistic about what you’re about to do and whether the risks are worth the rewards. 

There are lots of common reasons for failure when it comes to side hustles. Learn about them and consider how you can set yourself up for success from the beginning. Again, this is not discouragement — just realism. 

Finding balance between your full-time job and your side hustle is not easy to do. Make sure you’re taking time for yourself and not letting yourself get burnt out by both your sources of income.