Companies have different rules about employees working other jobs. Study your employer’s rules regarding what they expect from you if you open a side business. If you intend to offer a competing product or service, you may risk losing your job, particularly if you signed a non-compete clause when you first started. You could even be subject to a lawsuit if you market a product or idea you came up with while working your full-time job.
Knowing your goals for your side business enables you to prioritize your side business and your day job more easily. If you intend to grow your side business to the point that you can quit your day job, you might take a day off work so you can shoot the event. However, if you need the stability of your day job and its benefits more, you'd probably want to turn the event down.
OK, so I am guessing Grant was a lot like me in that very early on his goal was financial independence. I pursued a different strategy but was also very motivated. I worked for a Fortune 100 company, earned my undergraduate and MBA at night and on the weekends. I maxed out my 401K and collected all the free money that I could. I had some great jobs and traveled the world. I retired at 56 and have been enjoying life and my freedom ever since. It will always require dedication and hard work but if you want it you can earn it. But not everyone is driven and if you are not you will never achieve your goals. I am writing this while I am in Sao Paulo, Brazil one of the great foodie cities in the world, and I bet you didn’t know that either. But I know because I travel a lot!
A work from home job can be any position that does not require you to be in an office. There a wide range of work from home jobs. Some companies offer opportunities for employees in traditional roles to work remotely for all or some of their workweek. These jobs often use technology for meetings, assignments, and collaboration. This practice is called telecommuting. Other work from home opportunities may include jobs such as customer service representatives for which companies will hire remote workers, or part-time virtual assistants to manage work which does not require a physical presence in the office.
There's a misconception that keeps those with dreams of owning their own business from following their dreams. It's a misconception that's not only false but dangerous to the small business community. It's not true that every entrepreneur sits in a rundown apartment somewhere in Silicon Valley, eats boxes of cheap mac-and-cheese and stays up all night building the next big startup. Most entrepreneurs aren't living in poverty hoping to someday sign the papers for millions of dollars in funding only to see their dreams become the next worldwide craze.
The most important lesson here is not to leave too early. Take it from someone who got all excited about her income potential and left a great job she probably should've kept working for a few more months. You not only want a healthy amount in savings for the transition, but you want to have a business that makes close to your same level of full-time income.
When it comes to our mother tongue, most of us don’t give language a second thought. However, without language, almost all aspects of life as we know it would break down. Teaching foreign languages gives others access to a completely fresh perspective on human life, as seen through the lens of a new language. With today’s growing rate of globalization, starting a foreign language instruction business can offer you an exciting and profitable career.
Consulting is another area in which you can make use of your existing skills. Diana Melencio spent eight years working on Wall Street, and later used her financial background to her advantage, working as an independent financial consultant. This side business enabled her to follow her passion and to start OkMyOutfit, an online styling and shopping platform.
Remember, side hustling is also about the time/money tradeoff, so it’s up to you to decide how much time you are willing to trade today to make more money to invest in the future. But, just like saving, I viewed the time I was prioritizing for my side hustles, as an opportunity, not a sacrifice. When I was hustling super hard, I did have to turn down offers to hang out with my friends or go to certain events.
Nothing beats playing your favorite game. But getting paid for coaching a sports team and staying close to the action is the next best thing. Not only will you learn new skills, you’ll earn money getting your team into shape with this side business idea. The median pay for sports coaches clocks in at $30,400 according to the US Bureau of Labor Statistics. Expect to have only a slice of that if you’re signing up for part-time coaching as a side business idea only.
That prob helps, yeah :) Also if you hustle hard during holidays and weekends and rush hours, at least from what I’ve read… I’ve never tried it as I’m always glued to my online hustles, but if you could actually do both at the same time that would be even better! Haha… Just bring a laptop and wifi hotspot with you while you’re waiting around town :)
There’s a reason plenty of entrepreneurs don’t quit their day jobs—innumerable startups have come into existence as a result of the daily nine to five grind. Joseph Howard maintains his full time job, in addition to freelance work and channeling his energy into his two startup ventures. The combination of freelance work and his full time employment gives Joseph the financial freedom to work on multiple projects at once.
Like birthdays, marriages happen all the time. Which means you can treat weddings as a recurring fountain of business opportunities: wedding dresses and coats, jewelers, food caterers, venue providers, photographers and videographers, performers, flower shops, travel agencies, souvenir crafts, and a host of other ventures. Now imagine if you can form a network of these service providers so you can offer engaged couples a range of hassle-free wedding packages as a turnkey business idea. The process is certainly fun (and time-consuming), but as a side business idea, the pay can be pretty great.
To found their floral startup BloomNation, co-founders Farbod Shoraka, David Daneshgar, and Gregg Weisstein used a rather unorthodox funding source—the poker business. The three pooled their money to enter David, a former World Series of Poker champion, into a local poker tournament. He won, ultimately raising $30,000, which the trio used to help start BloomNation.
Having an adequate amount of cash flow in a business can make the difference between success and failure. That’s why it’s important to have serious cash reserves when you launch full-time. But many people don’t have the months of operating expenses needed to do this. So they start small with a side business and use profits to beef up cash reserves for a future full-scale launch.
Hello and thank you for the great article. I have been reading where you can use side hustles to contribute to self-managed retirement plans (aka Self 401k). Many of these gigs seem cash based – anyone out there contributing to their own Self 401k/Sep/Easy accounts? If so, what documentation is required to support the connections between the side hustle and the contributions to the self managed retirement plan?
Outsourcing lead generation is becoming the new norm. Good sales people are hard to find and many businesses try to avoid the risks of employing someone full-time before they have a robust lead generation strategy in place. If you’re well versed in all things sales, then it’s time to seize the day. Lead generation encompasses a vast array of tactics, including content marketing, email marketing, cold calling, SEO, website optimization, webinars, and so on. Pick one or two techniques that you can really nail, set up your website, and get to work generating leads for your own little business.
Once you’ve established yourself in any number of freelance verticals online, spending your time focusing just on doing inside sales (booking freelance contracts with high-value clients) and then subcontracting your work out to other freelancers can help significantly grow your client list, and revenue generating possibilities with this business idea.
If you think you’re busy now, wait until you have a company to run. Even side businesses take up loads of time, especially in the beginning stages when you are just setting up your systems and trying to attract customers. You’ll be working after your day job during the week and most likely on weekends too. This will limit the time you have for your family and personal relationships. Think carefully about the time commitment and consider what it will take to start your business.
A relationship coach offers helpful, actionable tips about how to strengthen relationships with romantic partners. A relationship coach may work with husbands and wives, boyfriends and girlfriends, or single people. It's unequivocally different from couple's therapy in that it focuses more on the behavior patterns of the relationship and not as much the thought patterns. It doesn't require couples to delve into their past, or to open up about their innermost desires and fears. It is not designed to address serious underlying issues like mental illness or domestic violence. It’s a method of helping couples or individuals find the motivation they need to tweak their habits, so they can survive and thrive. It helps single people identify what they need in a relationship, and separate those needs from what they want. Coaches help communities by resolving conflict, promoting domestic harmony, and establishing healthier coping skills.
There’s a huge online demand for English teachers who have the patience and willingness to regularly coach people over Skype. What’s more, is that you can easily make upwards of $25 an hour from people in places like Hong Kong or the United Arab Emirates, and it can even open doors to travel the world. While full ESL (English as a Second Language) accreditation is recommended, you can qualify as long as you’re a native speaker. Sites like Indeed, Learn4Good and Remote.co often post remote English teaching jobs, but stay abreast of the latest postings because available opportunities and fees vary.
It’s not on this list but Brand Ambassador/Promo work is another very flexible, fun, and lucrative side hustle! Basically you promote your favorite brands at awesome events (e.g. handing out Red Bull or demoing new products at high foot traffic areas). I created an entire resource website on how to succeed in this industry called “Brand Ambassador World”. It has everything from resume designs, to super helpful tips and tricks, to where to find promo gigs, to a comprehensive list of agencies, etc.