If you are reading this, it’s possibly because you have contemplated or are currently considering the idea of increasing your income with a side gig.
Since expanding your income opportunity will require a level of commitment, you want to understand your options and what will be required to start and increase your probability of success. We will start by focusing on four key factors which are time, aptitude, goal, and audience. Then we will delve into 5 side hustles that I believe are your best choices to pursue with minimum overwhelm as you start your new endeavor. Each side hustle will include what’s needed for you to get started.
KEY FACTORS (Time, Aptitude, Goal, Audience)
TIME – how much time can you allocate to your new venture? The real question is how much time are you prepared to commit? Consider each area that is currently consuming your time – personal, family, work, business, civic engagements, etc. Next, analyze each area and place them in order of time consumption. Honestly assess what time you have available and what time you will reallocate to your side hustle. You may consider setting time aside in the morning as you start your day, around lunchtime, during mid-day, after work, or late evening when there may be fewer distractions. Ultimately, only you can determine how you spend your time.
APTITUDE – what are your areas of strength? Where do you easily excel? Starting from this place gives you an advantage. In this instance, I’m looking at aptitude more broadly which includes your skills, talents, and strengths. Take a few moments to list your power qualities in each of these categories. Once you’ve made your list, let it sit for a few minutes, then review it with fresh eyes. Remove or add to your list as necessary. Aptitude will come into play when you select from the list of the 5 best side hustles. When you align skills, talents, strengths, and interests, with the endeavor you are starting, your success rate is more probable.
GOAL -what do you want to achieve? This is your “why” and not simply a list of the things you want to accomplish, but rather why are you choosing a side hustle? Is there a specific amount of income you desire? Do you want to find a productive way to use your gifts, skills, and talents? Are you seeking ways to easily supplement your income? Maybe you are looking to transition from your current position to a consulting business, a solopreneur, or a small business. Identifying your goal or purpose for starting this new venture can serve to encourage you during times you want to slow down or give up.
AUDIENCE – determining your target segment is also key. Who will make up your audience? It’s important to clearly define who you will be servicing or selling your items to. Invest the time needed to discover who are the right people for your offer. Gather information so you understand the temperament of your audience and the flow of their purchasing journey. When is the best time to promote your offer, how often, and in what format? What social media platforms are they on? Do they have hobbies or special interests? What are their income bracket and educational level? Knowing any or all these factors will expand your ability to better serve your audience.
5 Side Hustles to Supplement Your Income
1. Become An Online Coach or Consultant
If you’re interested in becoming an online coach or consultant, there are a few key things you should consider. Start by identifying your niche. Decide on a specific area where you have the expertise and can provide value to potential clients. This could be anything from business strategy to fitness training to relationship advice.
Develop your coaching or consulting skills by reading books, taking courses, attending workshops, or working with a mentor. Spend time improving your services. This will help you provide even more value to your clients. Building a successful online coaching or consulting business takes time and effort, but with dedication and a clear plan, you can achieve your goals and help others achieve theirs.
Establish yourself as an expert and valuable resource in your niche by creating a website, social media presence, and content that showcases your knowledge and experience. This will help you attract clients and build trust and your personal brand. Determine the specific type of services you want to offer, such as one-on-one coaching, group coaching, or online courses.
Decide on your pricing structure and package your services in a way that’s appealing to your target audience. Use tools like scheduling software, invoicing software, and project management tools to stay organized and professional in your coaching or consulting business.
Determine how you will attract clients to your coaching or consulting services by creating a client acquisition strategy. This could include building a network with others in your industry and potential clients through social media, online groups, and events. You could also incorporate paid advertising, content marketing, referrals, and other methods.
2. Get Paid for Your Creative Talents
This could be anything from writing, editing, graphic design, programming, or tutoring. After making a list of your skills prioritize them based on your strengths and interests. Create a portfolio that showcases your talents, skills, and experience. This could be a website, a LinkedIn profile, or a portfolio on a freelancing platform. Include examples of your work and any relevant certifications or qualifications.
Decide on your pricing structure based on the market rates for your skills and experience. Consider factors such as the complexity of the project, the amount of time required, and the level of expertise needed. Remember, building a successful career offering your talents and skills online take time and effort, but with dedication and a clear plan, you can achieve your goals and build a thriving business.
How to get started:
You need to find clients. There are several ways to find them online, including freelancing platforms like Upwork and Fiverr, social media platforms like LinkedIn and Twitter, and online job boards like Indeed and FlexJobs.
Be proactive in reaching out to potential clients and pitching your services. Once you start working with clients, focus on building strong relationships with them. Deliver high-quality work in a timely manner, communicate clearly and effectively, and be responsive to their needs and feedback.
Keep up with the latest trends and developments in your field by reading industry blogs, attending webinars and conferences, and networking with other professionals in your industry. This will help you stay ahead of the competition and provide even more value to your clients.
3. Start A Drop Shipping Business
There are numerous ways to supplement your income. One of those includes starting a drop shipping business. It will require a few key steps to ensure success. The first step is to decide on the audience that you want to focus on. This could be anything from beauty products to outdoor gear to pet supplies. Make sure to do research on the competition and demand for your chosen market to determine the best product to offer.
Once you’ve chosen your niche, find a supplier that you can work with. Look for a supplier that offers a wide range of products, has a good reputation, and has reasonable prices. Alibaba, AliExpress, and Oberlo are popular options for finding suppliers. While this may sound simple, it is vital that you spend time planning your business strategy to increase your knowledge before you start your business.
How to get started:
Set up your website using a platform like Shopify or WooCommerce. Choose a theme that fits your brand and customize it to your liking. Add the products you want to sell to your website. Your website should be secure and easy to navigate. Include clear product descriptions, images, and pricing information. Organize your products into categories to make it easy for customers to find what they’re looking for. Determine your pricing structure based on your supplier’s prices and your desired profit margin. Make sure to factor in any additional costs like shipping, taxes, and transaction fees.
Once your website is set up, it’s time to start marketing your business. Use social media platforms like Instagram and Facebook to promote your products and drive traffic to your website. Consider using paid advertising on platforms like Google Ads or Facebook Ads to reach a wider audience. When a customer places an order on your website, it’s up to you to manage the order fulfillment process. Communicate with your supplier to ensure that products are shipped out on time and that customers receive their orders in a timely manner.
4. Proofreading
Starting a proofreading business can be a great way to use your language skills to earn income from home. You must have excellent spelling, grammar, and punctuation skills. If necessary, enroll in courses or training to improve your proofreading competencies. Decide what type of proofreading services you will offer, such as academic proofreading, business proofreading, or proofreading for individuals on specific subjects. Next, determine your rates and turnaround times for each type of service. Starting an online proofreading business takes dedication and hard work, but with the right strategy and mindset, you can build a successful and profitable business.
How to get started:
Create a website to showcase your proofreading services. Include a portfolio of your work, testimonials from satisfied clients, and a clear description of your services and pricing. Reach out to your network and let them know about your proofreading services. Consider joining online communities and forums related to your niche to connect with potential clients. Use social media, email marketing, and content marketing to promote your proofreading services. Consider offering discounts or special promotions to attract new clients. Set up payment and invoicing. Choose a payment gateway that integrates with your website, such as PayPal or Stripe. Set up an invoicing system to make it easy for clients to pay you.
Provide excellent customer service by responding promptly to their inquiries and feedback and providing high-quality work. Monitor and optimize your business’s performance and optimize it for better profitability and client satisfaction.
5. Become A Voiceover Artist
Becoming a voiceover artist can be an exciting and rewarding career path. Take acting or voiceover classes to develop your skills in voice control, diction, enunciation, and performance. Practice reading scripts and recording your voice to improve your delivery and range. Purchase high-quality equipment, like a microphone, headphones, and recording software or digital audio workstation (DAW). Also, make sure the equipment you choose is suitable for the type of voiceover work you want to do.
How to get started:
Record a demo reel that showcases your voiceover skills. Choose a variety of scripts to demonstrate your range and versatility. Start building your portfolio by offering your services for free or at a discounted rate. This will help you gain experience and create a portfolio of work to showcase to potential clients. Look for voiceover work through online job boards, casting websites, or by reaching out to production companies or advertising agencies. Build relationships with clients and keep in touch with them for future work opportunities.
Create a website or social media account to promote your voiceover services. Highlight your unique skills and qualities as a voiceover artist. Stay up to date on the latest trends and techniques in the voiceover industry. Attend conferences, workshops, or webinars to learn from other professionals and improve your skills.
With the many opportunities available, starting a side hustle is another avenue for you to supplement your income that could transition to much more if you so desire.
