When living to your potential is limited because you lack resources, maybe it’s time to increase your cash flow with a side gig.
Do you feel like you’re flying in the dark with no ideas yet? Wondering how you could make extra money from a side hustle, or where to start?
Here are a few simple steps for you to take to discover your options and validate your ideas.
Keep an open mind and treat this as a series of experiments and you may be surprised which is the best side gig for you.
Meaning before money.
You have skills and interest but how do you turn them into cash. Or should you come up with a completely new idea? These are a great starting point but the first step is to clarify why you would take on anything extra. Without being clear about your reason why it will be hard to decide which is the right side gig.
Another question to ask yourself is do you need to make a little extra, or reinvent your future?
Step One:
Get your visual journal out and write out your reason why you want a side gig on a new page. Cut out a picture of what it is you want to achieve, experience or become when your side gig starts to pay off from your time and effort.
So many ideas and options. Where to begin?
Thousands of people are looking for your unique offering and there are fields of ideas waiting for you to make extra money. Well, at least that’s what you hope. How to pick the right side hustle just right for you?
Get to know your strengths, personality type and the way you work to pick the right side hustle.
Getting to know yourself better can be fun and a powerful way to make sure you are working towards living in alignment and living on your terms. There are three self-discovery quizzes that are insightful and helpful.
It does take time and investment but once you have done these quizzes keep them to check if you’re working to your strengths and talents. Investing a little time and money to choose the right fit will save tears down the track. Plus it will help you when you’re considering a short list of potential side hustles. You can easily see which ones are in and which ones are out!
Step Two: In your journal under your reason why you want to make extra money write your innate talents, strengths, personality traits.
Creating your side gig short list.
Once you have extra insights into your personality, strengths and the way you work, its time to make a short list of options for a side hustle.
Here are some popular options:
1. Quick cash flow:
- Sell stuff you already have you no longer use or value.
- Teach someone something you’re skilled at one on one or in a small group.
- Make things to sell, that are quick with resources you already have.
- Do something you are good at for someone and trade your time for money
2. Investment of time, skill and money to return in a reasonable timeframe.
- Make and sell products at a market or online Etsy store or similar platforms
- Make a quick course to sell on Skillshare or similar platforms
- Use your social media skills and help six small business people who are clueless
- Writing skill can be utilised in many ways. Resumes, small business newsletters, content creations for blogs etc.
- Photography of children’s parties, or social events
- Uber or Airbnb
- Selling products on Instagram
- Outsourcing – VA
work on Fiverr and other similar sites. - Affiliate marketing
- Consulting
- Life coaching
3. Medium timeframe cashflow. Opportunity to scale and low investment:
- Direct sales
4. Longer pay off, more skill required, opportunity to scale and replace income. The learning curve and costs are increased. Testing demand early is important.
- Blogs with an audience and list of subscribers
- eBooks – multiple – with consistent marketing
- Online courses – launch model with an audience and paid traffic
- eCommerce – Amazon – Shopify – tech skills with in-demand products
- Membership site – skill or offering. Tech/marketing skills required
- Create your own site with an offer that converts
Then its time to start narrowing your short list down again to the one you want to test first.
VIP Checklist
- Is there a demand for your side hustle?
- Is this side hustle right for you?
- What will it take to make money from this side hustle?
- Is it important for you to leverage your time and effort? Will it scale to replace your job?
The side gig that stands out from the crowd.
When you have picked a side hustle its time for thrashing
Will your side hustle fly?
Experiment and test the viability of the side hustle before going all in. Consider how you can build a team to leverage your time. Even if you start on your own at first, can you outsource part of the work when you have momentum?
If you want to go fast, go alone. If you want to go far, go together.
African Proverb
Not all side gigs are created equal.
Some sides gigs will last longer than others. Knowing if you want extra cash flow, a short-term project or something you can grow to replace the income from your job is essential. I cut back the hours of my career to start a side gig that had the opportunity to scale. Being clear about what you expect and being realistic about your time constraints will help you manage your expectations, priorities and energy. Begin with an end in mind.
Beehives were not built in a day.
Once you have tested and your side, and made a decision to go for it. You to get out of the gates running, momentum is important. The beginning can create pressure not only for you but the people who you live with, your friends, and extended family.
Will your partner, friends and family supportive? What if they don’t have your vision and or don’t like your choice of side hustle?
Here are a few tips:
- Make a decision, be clear about what your doing, explain you are testing, or experimenting first. Don’t be defensive about your choices.
- Be clear when your working and when your not.
- Resist the temptation to check your phone or computer. Let it go.
- Decide what you will give up or sacrifice and communicate this also to loved ones and why it’s important to you.
- Plan how you will reward yourself and benchmark your wins in advance.
- Write out your reason why you are taking on this adventure and keep it where you can see it every day.
- Look after you sleep, eating and exercise patterns.
- There will be days where you will have tears are mixed with honey. Be patient and have rituals to fill your cup, a support group of people or a power partner when
your in the dip.
More power to you! L
I’d love to hear what you decide to do. Reach out on my I
