How can you avoid that? Start a side hustle you can fund through savings -- or better yet, that you don't need to fund. Provide a service that only requires the tools you already have. Sell products you either make or can procure by consignment. Prove to yourself that there is a market -- and that you can serve that market -- before you take on any debt.
As an online marketer and a software engineer, I am obsessed with sales funnels. However, many people struggle with creating the proper funnel that converts. It takes a high degree of technical and marketing knowledge. However, ClickFunnels, a SaaS business with over 40,000 customers, which was started by Russell Brunson, takes all the guesswork out of that. Build a sales funnel and automate your selling with a platform like this.
In the last few years, I’ve created online courses, launched a self-published book (under a fake name—not proud of this one), done marketing consulting, launched an email course, Airbnb-ed my apartment, traded stocks, bought cryptocurrency (my best investment to date), bought a condo and put it on Airbnb, wrote a book (a better one), bought a business, put affiliate links on my site, given paid talks, written book summaries, and built an affiliate site for a basketball dribbling course I never took (also not proud of this one).
Craft fairs are also a great side hustle. I do very well at high end, handmade only craft fairs and festivals. Its a marketplace that attracts people who prefer handmade and have the income to easily afford high end crafts. I am a baker/food crafter (not the same as a food vendor. Food crafts are jams, sauces, cookies, breads, toffee, honey, maple syrup, etc. – foods made at a kitchen and brought to the event, not prepared at the event like sandwiches and burgers, etc, made by food vendors). I make hand made baking mixes, an oatmeal bar cookie in 4 flavors and a gluten free truffle cookie in 3 flavors. As with farmers markets, craft fairs mean immediate cash. I accept credit cards, too. No waiting for a paycheck to come, as my hubbie is paid by-weekly.
You can buy your stock from a wholesaler and list them on your online Selz store for customers to purchase. You will need to describe the features of each product in detail, and, since headphones are something of a fashion statement, include photos. Because this product is in high demand, with the right prices and marketing, it should sell fairly easily.
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Live bands are paid to perform music professionally before audiences in bars, nightclubs, concerts, private parties, corporate events, and other public venues. Peripheral revenue can be generated through the sale of recordings and merchandise. In addition to the group’s musicians, ownership in the business can include its manager and anyone else with a financial stake.
As for other tips, all I can say is “a penny saved is a penny earned”. If you are running out of ideas to make money, start saving. Some quick “low hanging fruit” tips to save some quick cash include – switch to MetroPCS or Boost for cellphone (I only pay $20/month), switch auto insurance to Insurance Panda ($25/month), and start using GasBuddy (saves me like $100/month at least. I drive a lot).
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