What is a Side Hustle?
Definition of “side hustle,” according to Kate Taylor, reporter with Entrepreneur:
A side hustle is a way to make some extra cash that allows you flexibility
to pursue what you’re most interested in.
A side hustle is simply a part-time opportunity (or numerous part-time gigs) that supplement the income from your regular job.
What are Some Ways I Could Make Extra Money?
There are many blog posts and articles written about side businesses; check out this list from this list or this list or this blog post on finding the side hustle for you. You can find side hustles on these lists that have a low barrier to entry, meaning you could get started right away.
Whether you have a W-2 job or you’re already a freelancer with (somewhat) steady income, you might be looking to make extra money on the side. Making money on the side is easy, once you figure out what works best for you.
First, consider what you like to do for fun that you might be able to use to help others.
Do you have a dog or cat? Do you have neighbors who have pets? Consider dog walking or pet sitting!
Do you have a skill you could teach others via an online course? Consider creating a website and an online training course.
Try a search like “how to make money playing video games” and you’ll see what opportunities may be available. Replace “playing video games” with anything that appeals to you.
Second, consider what you might be interested in learning.
Do you have a computer? Online training courses can teach you a variety of new skills you could put to work, like app development or digital marketing (like us!). Side hustles don’t require you to go back to college and get a second degree. With all of the resources online, you could easily pick up a new skill learning at your own pace.
We teach digital marketing and SEO via our self-paced online courses because it’s a lucrative, in-demand skill set. We’ve had tremendous success achieving our financial goals because of our side hustle in SEO.
Third, consider who you might serve.
If you pursue a service-based side hustle, you’ll need clients for your business. Whether you start as a dog walker or digital marketer, you need at least one client to start earning money.
For some, this can seem like a daunting challenge, but it’s really easy. To find your first client, start with a list of everyone you know personally who could benefit from the service you selected.
Do you have a friend who pays for a dog walker? See if you can take over.
Do you have a family member with a small business? See what your family member is doing to market his/her business online. Every small business benefits from digital marketing and SEO, so these could be strategies you use to help your family member.
How Much Extra Money Could I Earn?
Every city is different, so the rates you earn for a side hustle in New York City will be different than those in Indianapolis. You’ll have to look at the market for the side hustle you’re considering. Indeed and SimplyHired will also provide some salary information you could use to figure out an hourly rate for your side hustle.
Once you’ve figured the side hustles you’re interested in and the hourly rates for each, plug your numbers into this spreadsheet to compare side hustles. We include some example side hustles and hourly rates, so feel free to copy the spreadsheet and enter your own information.
Before SEO, we tried lots of side hustles over the years, including seasonal, part-time work in retail, newspaper delivery, selling programs at college football games, and flipping stuff purchased at auctions.
Once we focused 100% of our side hustle efforts on SEO, we eliminated the need for any other side hustle because we could earn $75 to $125 per hour.