One of the biggest things I try to encourage in people is to start something on the side that will put a little extra income in their pocket. It’s not necessarily a part-time job, but rather something that you can put in as much time as you desire and still come out with a little extra income. It doesn’t matter how old or young you are, how much time you spend at work or school, this can be done by anyone.
In the long-term, side hustles are capable of turning into full-time jobs if you desire, or even earning you a respectable income while keeping it on the side, giving you more freedom and flexibility.
Before I dive into the four side hustles, let me first mention a few good reasons why you should have one.
It increases your overall income
One thing that Jim Rohn talks about fascinates me is what making an extra $1000 a month can do for you. (Note, I am not making any financial promises or guarantees). He talks about what an extra $1000 can do for you and your family. Imagine making $40k a year and adding an additional $12k to that for a total of $52k. For some, that can put a large dent in their loans and get them paid off much faster. You could build a decent emergency fund with that, or help with a stronger down-payment on a house. For others, this can be enough to fund a passion project. The list goes on.
It diversifies your income
Income diversification is very important. Let me scare for you a sec: Imagine working a job for 5 or 10 years and all of a sudden, there’s a market shift and your company has to make the changes necessary to keep going. For most companies, this means laying off a handful of employees. And this option can most definitely include you. If 100% of your income is being generated from one single source and the shifting market puts you in a losing position, your income goes to $0. The best way to safeguard yourself from 100% income loss is to have extra income flowing from the side.
It’s an investment in your future
What do I mean? Yes, it can be a financial investment, but its more than that. Doing something on the side can mean learning to build new skills, seeing new places, trying new things, and even meeting new people. And those are the greater investments to be made. Unless your day job or profession already provides these, you most likely aren’t getting these from what you are currently doing.
This sounds good and all, but lets talk about some actionable things you can start today in order to make it happen!
Selling on eBay
Selling on eBay was one of the first things I learned before I decided to leave the typical 9-5 job grind. I learned how to take photos of my products that outsell other items. I learned niches that are easy to sell in and those that are much harder. I learned how to solve sales problems whether it was unhappy customers, damaged products, inventory issues, you name it. And the entry investment into selling on eBay is extremely low. You can actually start selling with no money down. The majority of people start by listing stuff from around their house such as clothes, toys, electronics, you name it. Here’s a secret: EVERYTHING sells. There are over 7 billion people on this wonderful planet and of those people, 169 million people are active eBay users. Your item WILL sell.
Here’s how you get started: Find stuff around your house you haven’t touched or used in a long time. Maybe you’ve worked hard on your weight goals and now your old clothes don’t fit (congratulations to you!). You take those and post ONE item per day. That’s an average of 30 items a month. To post an item per day, it will take no more than 10 to 15 minutes a day. In the 24 hours we get each day, I can assure you, you can find 15 minutes dedicated to making a little more money. This goes the same for other platforms such as OfferUp, 5Miles, LetGo, and Close5 just to name a few.
This one requires a little more time initially but the income it creates is passive income. And passive income is fantastic. You can start product creation by simply writing an eBook and publishing it on kindle or simply selling it as a PDF. This, too, requires virtually no money down to get started. Most everyone has Microsoft Office installed on their computer, or you can even use Google’s word processing software to write your entire eBook. Once you finish your book, you can use outlets such as Kindle and eBay to sell your eBook. Don’t expect great wealth from this, but there is potential in doing eBooks.
Diving a little deeper, you can also create your own digital learning course and sell it online onto platforms such as Udemy or your own website if you know how to set one up. This doesn’t require very much investment. And we all have smartphones with decent video capabilities. Some people will even hold seminars and record them with a camera in the back of the room and then sell the video as their own digital product.
If you constantly have people asking you to help them out with their tasks, you can turn this opportunity into an official side business, however big you want it to get. Whether is writing, proofing, running errands, you name it, this is a good way to make a little extra income on the side, and you can also connect with some new people and see new places.
From time to time, I take upon tasks in which I get to travel out of town. Recently, I traveled to Tennessee to pick up a cool military kitchen. And then about a half a year ago, I got to travel to Orlando, Florida to pick up a truck for my friend. That was my first time I had ever been on a plane (it was awesome in case you had never flown). Each were great adventures in their own ways.
Blogging is one that won’t show immediate results in the beginning, but if you like to write, why not do it on a platform in which you can eventually create passive income? You can start off as little as a blog post a month, a post a week, however much time you have. They can be a short or as long as you want. And once you learn to monetize your blog, this can create a really nice income if done correctly. The idea may seem saturated. But of the 3.2 billion people that use the internet, I can guarantee that you will be able to grow your own community of followers whether its 500 people, 1000 people, or even 10,000 people if you put in a little work.
This one can tie back to doing eBay, but it can expand outwards towards stores set up in WooCommerce and even Shopify (to name a few). Even if you’re not very tech savvy but are willing to learn a little bit, you can get take a niche product and use something like Shopify to establish your own online store at a very low entrance price. Keep in mind, with an online store, you don’t have to pay property rent and anything that comes with that. You can start off as simple as the entry-level $29/month shopify package and whatever your product costs. Or you can use your Shopify store to dropship products, completely cutting off the need to keep an inventory, making your store overhead even less. Plus, you wouldn’t have to invest in products with your own online dropshipping store.