If you’re looking to scratch the entrepreneurial itch without giving up your day job, you’re probably on the hunt for a side-hustle that aligns with your personal interests and your schedule.
If you have decided that a side hustle from home is the best way for you to earn some extra money each month but you don’t know where to start. We have highlighted a guideline to developing a successful side hustle:
Enumerate your interests
You need to love what you are doing as a side hustle for it to be successful for you.
This job will be done on your own time, and outside office hours if you have a day job, so it will take a lot of energy and motivation to make it stick. Only something that you are passionate about will drive you this much.
Brainstorm side hustle ideas around your interests, hobbies, and skills to discover the best business to start.
Consider your Investment chances early
Side hustles shouldn’t cost too much money but they may require some investment upfront for things like hosting, branding, and tools. You may decide that you want to do advertising to find your first customers.
Whatever your growth and expansion plan is for your side hustle you need to be aware of your budget before it happens. Ensure you plan your spending accordingly and measure your success to know whether you should continue.
Ensure there are no conflicts of interest
If you have a day job or have connections that could lead to a conflict of interest with your side hustle then it is not a good idea to continue with it.
Sometimes the best advice is to try something else or to shelf your idea for another time so that you don’t end up doing something you regret. Starting a side hustle with a conflict of interest could lead to costing lessons learned.
Schedule time for your side hustle
A side hustle takes time out of your day, daily, so ensure everything is going right. It is not possible to set up your website, schedule your content, and forget about everything until next month.
Set aside time in your calendar regularly for your side hustle and outline actionable goals for this time so you know what you are doing is valuable.
If you have a day job, aim to give three to four evenings a week and perhaps some hours at the weekend to your side hustle, depending on what it is.
Don’t forget about your day job
If you are setting up a side hustle while also having a day job, remember to put 100% of your energy into your day job when you are there.
A side hustle will give you some money but you rely on a cheque from your day job which you need to pay the bills with.
Don’t try to juggle your day job and side hustle within your 9-5 hours as this is a recipe for disaster.