The Ultimate Side Hustle Book

450 Moneymaking Ideas for the Gig Economy

Elana Varon

• Publisher: Adams Media
• Year: 2018
• ISBN:
  9781507209233
• Topic: Business
• Subtopic: Entrepreneurship
• Index: Business

Get your side hustle on with this handy guide that gives you hundreds of ideas on how to make extra cash—and have fun doing it! Do you work a regular job, but still find yourself wishing you had a little extra money? Or maybe you just want some extra fulfillment after hours that you just aren't finding in your 9-5. A second job—also known as a side hustle—might be the answer! Learn how to take advantage of the gig economy and turn your time, space, skills, or stuff into extra cash. The Ultimate Side Hustle Book presents up-to-the minute research on 450 fun, resourceful, and often rewarding side hustle jobs, including detailed information on the skills you need and experience required for each, how easy it is to find work, and of course, pay rates—all in an easy-to-read and fun-to-use format.In addition to helpful facts and figures, you'll find real-life anecdotes and tips from successful side hustlers sprinkled throughout. From dog walking and tutoring to vehicle advertising and refereeing recreational sports leagues, you're sure to find that perfect side hustle that fits you and your lifestyle.

CHAPTER 1

How to Choose Your Side Hustle

When you searched for your current job, you probably had a plan. You figured out the types of work you were interested in and qualified for based on your training and education. You had wage or salary goals and some idea about how this job could lead to your next one or shape your career path. Then you searched for openings, networked with your friends and colleagues, and interviewed until someone hired you. The same principles apply to your side hustle. In this chapter, you’ll learn what goes into choosing a good one. Learn to identify your saleable skills; you’ll find you have more of them than you may think. Read about how to fit your side hustle to your circumstances so you can reach your earnings targets as well as any goals beyond making money to supplement your income. Get information to help you create a strategy for finding your side hustle. You’ll also hear from a graduate student, a former air force officer transitioning to a new career, a retired systems engineer, and a yoga instructor, who offer their insights about choosing and finding a side hustle.

TURNING WORK INTO A HUSTLE

Nearly any work that people do can be turned into a side hustle, whether low-skilled tasks such as running errands and cleaning houses or high-skilled trade and professional services like electrical work, nursing, and accounting. Your artistic ability, cooking prowess, or fluency in a foreign language can be turned into an income stream, as can your spare room and bargains you pick up at yard sales.

People who work in industries where freelance work is typical earn their living by matching their knowledge and skills to a variety of projects and clients. A guitarist might perform with a band, teach music lessons, write songs, and produce recordings. In a future where jobs may become less secure due to automation or decisions by companies to hire fewer permanent employees, work as a series of gigs rather than a job people go to every day for years could become more common. Millennials, whose expectations about work were shaped by the Great Recession, have taken this idea to heart. They are more likely to freelance at least part time—one way to describe a side hustle—than workers from previous generations.

Many university students, in fact, anticipate a career full of side hustles. “Even if I do get a ‘real job’ I may have a side hustle of a blog, or teach on the side, so I have freedom to do what I want with my time and not choose one kind of career path,” says Jeanelle Horcasitas, a graduate student. The side hustle isn’t only about getting some quick money by walking dogs or cleaning houses. Students are applying their classroom and laboratory training to gigs with potential to become independent businesses.

That’s a good model for any side hustler. Entrepreneurs—whether their business is a tech startup or a garden design service—succeed by identifying a product or a skill they have to offer that fills a need. Doing work you are good at will help you to maximize your earnings. As you gain experience and increase your expertise, you’ll be able to get more work—and potentially higher-skilled work, enabling you to earn higher rates. You’ll also be building your resume. With experience, your side hustle could provide you with more options for work should your career interests or employment status change.

LET YOUR SKILLS AND INTERESTS GUIDE YOUR CHOICES

Everyone has saleable skills. With online platforms to match work with people who want to do it, even the most basic tasks have value. You don’t need formal work experience to wait in a line, but if you have patience (and books to read or smartphone games to play), you can make $25 per hour or more as a line waiter.

Think about everything you do in a typical day at work and at home. If you focus on tasks or activities where you excel or that you especially enjoy, you’ll come up with a list of skills and expertise that you can turn into a side hustle. These might align with your education or your primary job, but they may just as easily relate to a way you think, a hobby, a household task you’ve mastered, or your family responsibilities.

Tune in to what your friends and colleagues admire about you, or the areas where they rely on your advice or experience.

• If people ask you for help with their presentations, you might be able to create a side hustle crafting slide decks, critiquing presentation delivery, or selling an online course that teaches others how to improve.

• If your wardrobe is full of thrift store purchases that you have tailored, embellished, or otherwise altered, you might be able to provide mending and alterations, or sew clothes to order.

• If you have an abundant garden, you might help others choose plants, give advice about garden feeding and maintenance, or help with outdoor chores.

Don’t forget about making money from things you own or that you can easily and cheaply acquire. Your eye for bargains or love of yard sales can become a resale business or provide raw materials you can use to create and sell upcycled goods.

MATCH YOUR SIDE HUSTLE TO YOUR CIRCUMSTANCES

Whatever your reason for starting a side hustle, setting goals will help you to choose the best work to fit your skills, your location, and your time—and maximize your earnings. If it takes you two hours to put together a coffee table, and you’re also fluent in Spanish, tutoring two students in the same amount of time could potentially earn you more than assembling furniture for a flat fee.

For most people, their side hustle contributes a small amount to their household finances. The supplemental income may be essential, helping to cover regular expenses. It may pay for family fun, like vacations and summer camp for kids, or fund a home renovation. Or it may provide a financial cushion. “I’m past having security. Now it’s about options,” explains Jim. While serving in the US Air Force, he actively invested his own funds in stocks, bonds, mutual funds, and real estate.

How fast you need the money may be a factor in the side hustle you choose. Some side hustles enable you to work for an hour, or a few, and get paid right away. If you’re selling your homemade soaps, you will have to buy supplies, spend time making your products, and market them before you see any return. With experience, you may find that some side hustles aren’t for you, and you’ll become more strategic in what you seek out.

You may also have goals beyond making money: to fund a hobby or otherwise get paid to do something you enjoy; to get entry-level job experience or practice a skill you need for the future; or to have a flexible source of funds for when you can’t work full time due to caregiving responsibilities, have a reduction in salary or wages, or experience a layoff.

For people who are working in industries that are shrinking, or where jobs will be lost to automation, having a side hustle offers a way to ease the transition by updating their skills or learning a new field. The same is true for anyone facing a career change or retirement. If you’re retired, a side hustle can help you to stay busy and connected to people in your community in addition to picking up extra income.

Whether you’re starting your career or starting over, a relevant side hustle while you’re still employed offers a way to make contacts and gain the skills you need to get a job in a new industry or start your own business. You will also be able to learn which aspects of the work you enjoy the most, figure out how to deal with any challenges you may face, and explore different ways your business can grow.

Be aware that some side hustles—particularly in healthcare, education, law, personal finance, food service, and any work that directly impacts public or individual health and safety, such as electrical work—may require you to be licensed, certified, or otherwise trained. In some fields where credentials are not required, having them can make it easier to find work or earn higher rates.

As side hustles, jobs that require an academic degree or formal training are best for people who already have the qualifications or who are looking for a long-term career change that makes the time and expense a good investment. When I talked to Jim, the retired air force officer, he had qualified as a tax preparer and was in the process of becoming accredited as a financial counselor so he could start a part-time business.

But you can train quickly for other side hustle jobs. Learning to referee grade school soccer takes only a few hours. Tutors, like Steven, a retired systems engineer in Houston who teaches math and science, can easily add a new subject to their repertoire. When he took on a student who needed help with advanced calculus, he filled the gaps in his knowledge of the subject by watching online lectures.

COMBINE TIME-TESTED AND NEW METHODS TO FIND WORK

When you have ideas about the type of work you want to do, and you know your goals, you can create a strategy to find work. The time-tested ways, such as networking with personal and professional contacts, and getting referrals from customers, serve most side hustlers well. Social media extends that network. On-demand and freelancing services platforms are emerging as another source of work.

Most freelancers find work through their family, friends, or professional colleagues. Every industry has conferences, meetups, and other gatherings where you can meet people who may hire you for side work. People who know you can provide references and referrals even when they don’t have work to give you. Meanwhile, if you are starting a side hustle doing work that is unrelated to your regular work, your friends could become your first customers. Because they already know and trust you, they will likely be more confident in your skills and abilities than a stranger, and these early jobs will help you build your reputation.

You may also be able to find part-time work through online classified ads, and by cold calling organizations you would like to work for. When Andrea, a social worker who teaches yoga on the side, wanted to offer a class for retirees, she introduced herself to local community recreation directors, which led to a short-term gig.

Social media platforms are also an important source of connections and help to expand your network beyond people you know. Facebook and other social networks such as Nextdoor support community-based groups, where members often ask their neighbors to recommend home improvement contractors, tutors, housecleaners, and a wide variety of other service providers. These platforms also provide ways for people offering services to advertise their availability and interact with potential customers. Meanwhile, business networks—LinkedIn as well as industry-focused platforms—provide a venue for making connections with professional colleagues who may hire you for your side hustle.

If you haven’t tried to find work using an online freelance marketplace or on-demand service for independent work, such as Uber or Lyft for driving, TaskRabbit for household tasks, Catalant for professional services, GigSalad for event planning and entertainment, or Thumbtack for a wide range of personal and home services, you’re not alone. As of mid-2018, most independent workers have not joined these platforms. However, it’s wise to become familiar with how they operate because they have potential to play a larger role in finding gig work in the future.

On-demand and freelance platforms are supposed to make finding gigs easier: once you join and set up your profile, the platforms generate opportunities for you based on customers’ requests. This happens in one of several ways:

• The platform matches you to customers’ criteria and presents you with gig offers. Ridesharing, delivery services, and household task services work this way.

• Your profile is presented to customers as the first step in a hiring process. Platforms for hiring nannies, tutors, home improvement contractors, and professional consultants tend to work like this.

• You can search for available gigs and bid on them, similar to searching and applying for a conventional job.

Regardless of the process for matching you with tasks or projects, you have access to a wider range of customers and opportunities than you would be able to find by yourself. These platforms also facilitate finding work you may not think to market yourself for, but for which you are qualified.

Though on-demand and professional services platforms are still new to many people, most people who sell things have been doing so online for more than twenty years: eBay launched in 1995. Peer-to-peer rental platforms, such as Airbnb for home rentals, are newer but gaining popularity. You can list your rentals on craigslist or other online classified sites the traditional way, but you can also find peer-to-peer rental platforms covering many types of property—from boats to RVs to your driveway.

Meanwhile, if your side hustle is selling stuff, eBay is just one option. For example, Facebook has its Marketplace and numerous yard sale groups, while Nextdoor has For Sale and Free sections. And there are platforms that specialize in specific types of products, like Etsy for art and crafts. If you want to set up an independent online store, there are tools for that as well.

With a clear idea about what you can do, goals for what you want to accomplish, and a strategy to find work, you’re ready to side hustle.

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