Got a thing for numbers? Plenty of companies need to hire talented contractors who are good at data analysis, making this a potentially lucrative side business idea if you have the right credentials and experience. Platforms like Upwork and Digiserved are but a two of many websites that are great for freelancers with an analytical prowess, looking for extra work as a side business idea around their full-time jobs.
Blogging is often the first idea that springs to mind when the conversation turns to online side businesses. And rightly so. Thousands of bloggers around the world are successfully making money off their talent to write, and the best thing about this hustle is that there’s no right way to do it. First, let’s establish the fact that blogging itself is rarely profitable. Bear with me. Blogging is like a train station – the more trains you have running, the better are your chances of turning a profit. Establishing several streams of income is key to turning your blog into a self-sustaining side business. So let’s back up a little.
In fact, many business owners start their businesses as side ventures. They don't quit their day jobs, but instead use the skills they've learned to start that side business. They aren't expecting these businesses to pay the bills, but they don't limit themselves on growth either. Starting small keeps the startup costs low. If it does fail, they have lost very little. How do you start a side business? Here are a few tips.
Are there people at your full time job who come in with an expensive coffee each day? If you have a machine at home that could recreate that same beverage each day, offer your services at a reduced rate. I knew a woman who provided coffee for four of her coworkers every day. She bought travel mugs inexpensively and made coffees to her coworkers specifications. They were available every morning, hot and perfect for just $1 a day. This saved her coworkers $3-4 each day and made her money on the side. Plus, she was already making her own coffee, it didn’t ake much extra time in the morning to make a few more.
Once your following becomes large enough you can begin implementing any of the other strategies in this article. You can drop in links to affiliate products, you can market a course, a podcast or even sell a product. The poster child for this model right now is The Hustle – a newsletter geared towards millennials that focuses on the tech space. Sam Parr, its founder, was able to drive 100,000 subscriptions in 5 months and leveraged that audience to create HustleCon, a startup conference for non-techies. During his first year of the conference, he sold 400 tickets and made $50,000.
If you keep your money hidden in the attic or earning close to nothing in a savings account, you might want to consider putting it to better use through smarter investing as your side business idea. Sure, there are plenty dangers to look out for, but most personal finance experts will advise you to start learning about the stock market if you want to grow your wealth, and to avoid jumping too heavily into trends like Bitcoin and other cryptocurrencies without proper understanding.
If you enjoy graphic design and love creating unique pieces of art, then this side business idea could be perfect for you. You will need to work with a range of color palettes and use different fonts to your advantage. Look into providing your services for weddings, business events, parties, and really anything that needs professional, eye-catching invitations.
The most popular side hustles for millennials are "home repair/landscaping" (12 percent), according to Bankrate. A total of 9 percent of millennial respondents make additional money babysitting and 8 percent selling or reselling goods online, including via sites like Ebay, according to the survey. Other millennial side gigs include substitute teaching or tutoring; doing hair or makeup; earning money by finishing online surveys or completing tasks for people online; or doing freelance photography and videography (4 percent each).
Starting a website can be a great way to build some side income in a fairly passive manner. Start a blog if you have interesting, unique, and informative stuff to tell your readers. You can then make money on advertising or having people pay for educational products or tools you produce. Or create a website that brings together buyers and sellers of a niche product from which you can charge a subscription or transaction fee. The key is to think outside the box and come up with an idea that can provide a unique solution for people. And even if you want to produce a website that is similar to ones already out there, do it bigger and better and find a way to differentiate yourself!
Think about websites like Udemy, which gives teachers a platform to teach online courses. A business like this allows people to share their expertise with students while making a living—all without the need for a physical location, or even a set schedule. Or maybe you prefer to approach things a little more creatively. If you’re crafty, you might consider a custom phone case business, which helps you lets customers add personal flair to their phones.
Selling real flowers is where things can get tough. Many people already have a green thumb, and often they already supply flowers to friends and family. You will need to figure out which flowers will survive the shipping process, and decide how great of a distance you are willing to deliver across. Again, clear, attention-grabbing images will be key for successful selling.
Good side hustles, like freelance writing, allow you to make money by trading your time. Since you’re trading time for money, you’re capped at how much you can make. Still, if you’re looking to hit, say an extra $1000 a month, freelance writing is a side hustle that can allow you to predict how much you can make. You can have a contract set up with a client or two that’ll allow you to know exactly how much money you’ll be able to make. The secret to succeeding as a freelancer writer is to charge based on the value you’ll bring. Most freelance writers undercharge which results in fast burnout with little pay off.
Great post, MM! Incredibly inspiring, I really only grasped the side hustle concept since starting my blog about 6 months ago, after reading sites like yours. Already, apart from my blog, I’ve put my personal recording studio into use and started a music production side hustle, and a friend and I have launched a boutique logo design start up, called BroGoLogo, as an quality alternative to commodity products/services that you mention in this post.
I love creating new business forms and have recently been thinking about putting my forms out on the internet for some passive income. I was thinking free “as is”, $5 to have company information added in a header, and more dollars for a custom made form. I’m looking to learn the best way to get it out there. I just found your blogs this evening and look forward to reading many of them. Thank you in advance for all the excellent information that I will be using.