Side Hustles
Side Hustles
Side Hustles
What’s the meaning of side hustle, side business, or side gig? Well essentially, they’re all the same.
A side hustle is simply a way for you to make extra funds in addition to your current income.
A side hustle is a series of systems that work together to create a business. The key benefit of a side
hustle is that it’s a business that can be run in addition to “another job”, or what I affectionately like
to call your day hustle.
A side hustle can also be more than just an additional cash flow. It can be a way for you to pursue a
passion or interest and get paid to do it. Or, it can be a way for you to save up extra funds for that
vacation home you’ve always wanted or finally start that year long trip knowing that you have cash
coming in on the side while you travel.
If you're on the fence about starting a side hustle of your own, it does come with its fair share of
perks:
1. Save for your dreams. A side hustle can provide a good side income in addition to your
current income to save for future endeavours like a house, vacations, retirement, bucket
lists, etc.
2. More pocket changes. You can also use your side hustle income to supplement your current
income if you’re not making enough to provide for your lifestyle or your family.
3. . A side hustle is a great way to legitimately get paid to do that thing that you really love and
follow your passion - even if it’s not a full-time pursuit.
4. Reach your dreams. A side hustle can provide a solid foundation for reaching your biggest
dreams and achieving your biggest goals. Creating something of your own gives you an inner
confidence boost, and it reinforces that you can achieve anything you’ve ever wanted.
5. Generate passive income. Side hustles are great way to create multiple passive income
streams. By passive income, I mean that your side business is working while you’re physically
not. So yes, that whole make money while you sleep phrase (which is tired and overused), is
absolutely true with a side hustle.
6. Leave your current job. A side hustle can help you escape that 9-5 cubicle lifestyle. It can be
the gateway to launching the ultimate business of your dreams. And once your side hustle is
successfully established, you can finally leave your current job behind and take matters (and
life) into your own hands.
7. More flexible lifestyle. A side hustle can provide a gateway to create a business that can
travel with you. Starting one could be your steppingstone to location independence. That’s
one of the main reasons why I started mine in the first place.
8. Take things to the next level. If you already have a blog, a small growing social following, or
do some freelance work on the side, establishing a serious side hustle is a great way for you
to transition into an actual small business, and beyond...
9. Confidence. Starting a business while still in your corporate job helps to assure you of your
worth on the one hand (thanks to the responsibilities and the respect you have at work),
while your regular salary means you won’t be dependent on money coming in through the
new business. This gives you the confidence to charge higher prices and a willingness to walk
away from a project if necessary. Otherwise, when you have nothing else on, you’ll find
yourself feeling compelled to say ‘yes’ to anything that comes your way.
10. New contacts and opportunities. The simple act of researching and talking to people about
your idea will put you in touch with new connections and create opportunities that you
never could have predicted. The whole experience will also give you a competitive
advantage as you stand out from the crowd with your resourcefulness and creativity in
starting up on your own. Whatever happens with the business itself, this is bound to set you
up for future success in your career.
But why start this business alongside your full-time job? Well, again, regardless of what
happens with the business itself, there are benefits to having a side hustle alongside your
job – benefits both to your side hustle and to your main job, in fact!
11. Self-awareness and -development. Exploring and working on your own ideas can teach you
all sorts of things about yourself and about what you like and don’t like. Aside from the hard
skills you’ll learn as you run your own business, you’ll also be investing in your own personal
development. In a corporate job, it’s easy to rely on the training programmes that happen to
be offered by your employer. As a business owner yourself, you’ll develop much faster and
become far more well-rounded in your softer skills and understanding of your own strengths
and weaknesses.
If I said a side hustle was for everyone I’d be lying. Not everyone has the desire or need to have a
business on the side. Usually someone who starts a side hustle has one, or several, of these traits:
Someone with a mind full of endless ideas + the drive to make them a reality
Someone forced into circumstances that require them to earn more money
Someone with a skill or passion that is worth sharing
Someone with a natural entrepreneurial spirit
Someone who wants to prove something to themselves, or to others
Side hustles can fall under a range of possibilities. According to this entrepreneur.com article and
graphic, there are 5 main categories that side hustles fall under:
freelance based side hustle (like graphic design, website development, or writing articles or
through sites like Upwork or Fiverr)
course based side hustle (that uses platforms like Teachable, Thinkfic, or Udemy to host it’s
courses, or you can even host courses on your own)
tutor based side hustle (for face to face teaching using Skype or Wyzant, teaching other
languages, or even teaching english).
eBook based side hustle (that you create for Kindle/Amazon or even self-publish your own).
drivers for Lyft or Uber (I’m sure by now you’ve already heard of these)
local tour guides (through Tours by Locals)
help with odd jobs and home improvement task (on taskrabbit)
dog walking or babysitting (like care.com for trusted at home sitters)
Many times, people who fall under this side hustle type are the ones whose side hustles enabled
them to leave their day jobs.
You’ll also notice that the people I mention here have their own websites, which also helps them
create even more streams of revenue...
Buying and selling products on Etsy or Amazon (like this family does)
Affiliate marketing (I even created an affiliate program for this book)
Virtual assistant (start your own business with multiple recurring clients like she did)
Running a digital product empire (like she does, she does, and he does)
For example, my side hustle is an online based that a combines a hobby based side hustle with a
knowledge based (I know, it sounds soooo wordy, but trust me that creating a side hustle on your
own terms is the best way to go).
An online side hustle (the combines hobby and knowledge-based side hustle traits) is the type of
side hustle that I recommend you start.
This type of side hustle gives you the most control and flexibility, and it’s also the best opportunity
for limitless growth. You decide the focus, products, or skills that you’ll offer. And because it’s your
own, you can shape it to build and support your ideal lifestyle.
First, you'd figure out the topic your side hustle will focus around and the problem you'll be solving.
This is also the stage when you'll create a business plan, figure out your business mission, and
develop a profit plan.
2. Develop Your Brand
This stage is all about establishing your visual brand. This is when you'd choose your colour palette,
create your logo, develop your social media graphics, and put together your website.
Systems are a huge part of creating a serious side hustle. This is the stage where you'd incorporate
automated systems for email marketing, a payment processing, and a plan for creating consistent
content.
This stage is about forming a funnel - from interest to income. It begins with sharing engaging
valuable content and providing an answer to a desired need in the form of your product.
LINKS:
*psst* to learn your own side hustler personality type, take the quiz here
*psst* If you need some guidance on how to start a side hustle that’s based on your
unique set of strengths, it’s what this book is all about.
This is website gives a complete breakdown of all this information in addition to the tools and costs:
https://www.viayuri.com/the-official-guide-to-starting-a-side-hustle#what-is-a-side-hustle
https://onestepoutside.com/8-benefits-of-starting-a-side-hustle/