If you want to start a side hustle, there are lots of options available. Simply use a search engine to identify side hustle ideas you could start today and you’ll find literally hundreds of potential side hustles.
Of the hundreds of side hustle ideas, how do you decide which side hustle is right for you? Consider your goals. Consider how many extra hours you want to work each week. Consider how much per hour you want to be paid. Since you’re trading your free time for a side hustle, you likely want to be paid a lot of money because you value your free time.
Using a Side Hustle to Achieve Your Goals
What are your goals for starting a side hustle? What problems do you have in your life that a side hustle could solve? Could you identify one goal right now that you think a side hustle can help you achieve?
Many people want to start a side hustle online to meet their financial goals. Making extra money could help pay off student loan debt, pay off your mortgage, save for retirement, save for a down payment for a house, and much more.
Students who take our online courses to learn how to become SEO consultants have part-time or full-time jobs. They’re work-at-home moms. They’re stay-at-home parents. Our students simply want to make extra money to achieve their financial goals. Our students work hard online at home; they work after they leave their day jobs and put in hours after work and on weekends to help clients with SEO and make extra money in the process.
Before you start a side hustle, we recommend you write down your goals for starting a side hustle. Use the SMART goal format to construct a goal you can act on that will help you achieve that which you want to do.
Let’s apply the SMART goal format to one of the common reasons why our students want to start a side hustle in SEO: mortgage debt.
Specific: I want to pay off my mortgage.
Measurable: I want to pay off my $100,000 mortgage.
Actionable: I want to pay off my $100,000 mortgage by working an extra 10 hours each week.
Realistic: I want to pay off my $100,000 mortgage by working an extra 10 hours each week making $75 per hour.
Time-bound: I want to pay off my $100,000 mortgage in less than 3 years by working an extra 10 hours each week making $75 per hour.
Here are the details I entered in the mortgage calculator for this SMART goal.
- Amount of the mortgage loan: $100,000
- Mortgage interest rate: 4%
- Length of the mortgage: 30 years
- Additional monthly payment: $3,000
In this example, this side hustler makes $75 per hour working an extra 10 hours per week to make an extra mortgage payment of $3,000 per month to pay off a mortgage in less than 3 years.
Do you have any debt you’d like to pay off in less than 3 years?
Consider Creating a Visual
In trying to decide on a visual for your SMART goal, think of what you need to see each day that will motivate you to work extra hours after work and on weekends to help you achieve your goal.
You could use a mortgage calculator and print the results.
You could use your monthly mortgage statement to track your progress.
You could create your own charts using Excel or Google Sheets.
Whatever visual you decide to use or create, put that visual in a location where you will look at daily.
Comparing Side Hustles
You have your side hustle goal and you’ve made it a SMART goal. You’ve made a visual to represent the success you hope to achieve via your side hustle. Before you decide what side hustle you want to pursue, consider the options available.
If you searched online for side hustle ideas, you’ve likely come across lists like this one, this one, or this one. How do you compare one side hustle to another? SEO might sound interesting to you, but how do you decide which side hustle you want to start?
We’ve created a Google Sheet you can use to compare side hustle ideas. Below is a screenshot of just some of the examples of side hustles included in this Google Sheet.
Hourly rates vary by location, so enter data that is relevant for your area.
In addition to comparing hourly rates and the number of hours you will need to work to achieve your financial goal, consider your interests.
- What are you willing to do?
- What aren’t you willing to do?
- Do you want to work online?
- Do you want to work from home?
- How much time do you want to dedicate to working on your side hustle each week?
Starting a side hustle is easy and you can start a side hustle doing just about anything. Consider a side hustle that combines your goals, your interests, and the number of hours you want to work each week and you’ll likely find the perfect side hustle for you.
Why Digital Marketing and SEO Make the Perfect Side Hustle
If you have a lofty goal set for yourself to crush your student loan debt or pay off your mortgage early, kudos to you! Few people set financial goals, so you area ahead of the game.
Having reviewed the spreadsheet above, you can see that the hourly rates for many side hustles are relative low compared to being and SEO consultant. Why is this?
SEO consultants have a specialized skillset that’s in demand. And because there is a shortage of consultants, the hourly rate for this work is higher.
We created online training courses to meet this demand. Small business owners and digital content creators across the world need help marketing themselves and their businesses. They need aspiring SEO consultants like YOU!
Do you think SEO might be the side hustle for you? Read what students have to say about our online course. Everything you need to learn SEO, start a side hustle, and find clients is included in our online courses, so you can get started quickly.
Originally posted 2016-07-16 15:20:10.