You want to start a side gig, but you have some criteria that your new business needs to meet.
It needs to:
Be part-time work
Allow you to work remotely
Start making a profit rather quickly
Not cost a lot (if anything at all) to start
Be something you enjoy (you want to make money from a side hustle but you’re not willing to do just anything)
To help you find a side gig that meets your criteria, we’ve come up with some work-from-home business ideas that are fun, easy to start, and can help you make money fast.
5 ways to ensure you make money from your side hustle
Whatever side gig you decide to try, consider these five steps. Doing so can help increase the probability of a successful side business.
1. Determine how much money you need/want to make
The goal behind starting a side gig can vary, including:
Using it to eventually leave your day job
Wanting to slowly develop an empire
Making extra spending money or building an emergency fund or nest egg
Whatever your reasons are, make sure you know how much money you’ll need from your side gig to reach your goals. This is the foundation that will help determine:
Whether it is really worth it to start a side business
How much you can spend on various expenses, including marketing and supplies
How long it will take to level up
When you can hire a team or start delegating tasks to freelancers/independent contractors
2. Consider start-up costs
The cost of starting your business can determine:
When you’re able to start your business
When you’ll start earning a profit
If possible, look for opportunities that don’t require a huge investment.
For instance, if you choose to start a side gig with Vector, you’ll pay zero up-front costs. We provide the training and supplies you need to start your business without any monetary investment on your part.
3. Dedicate time to each part of your business
As enjoyable as it may be, you can’t spend all your entrepreneurial time doing the one thing that you love. Whatever the major focus of your business, you’ll also need to spend time:
Engaging in administrative tasks (responding to emails and messages, paying bills, ordering supplies, bookkeeping/accounting)
Marketing your business
Taking care of your customers (responding to requests or feedback)
If you avoid spending time in these areas, your business will have a hard time surviving.
4. Continue to invest in yourself
Invest time and money in things that will help you improve your skills and grow as a person.
Listen to podcasts or audiobooks about your niche, running a business, and/or marketing
Watch informational YouTube videos
Invest in courses
Attend summits, conferences, and seminars
As you grow, you’ll develop skills that can help you thrive as a business owner and creator.
5. Make intentional (not accidental) choices
Happy accidents happen from time to time but they’re not the norm. If you want to make money from a side hustle, every decision you make should be intentional.
Think about your goals. For instance, if you simply want to make a bit of extra money, your choices will be different than if you have the long-term goal of building a business empire. Make sure the choices you make are going to benefit you in both the short and long term.
Find work that you truly enjoy
Another way to ensure that you’re running a profitable social selling gig is to choose a business venture that excites you. If you can talk about, research, or engage in a certain topic or hobby for hours without getting bored, it might be a great side hustle option.
The most popular side hustle ideas of 2021
Ready to get started? Consider these work-from-home opportunities.
It’s easy to get caught up in everything you must do for your business. Although working part-time and remotely has plenty of benefits, you can still get stressed and overwhelmed.
Running your own business can be incredibly rewarding but you can miss out on all the perks if you don’t take care of yourself in the process.
Tips that can help:
Don’t sacrifice sleep: Get 7-8 hours of sleep per night to perform at your best.
Eat a nutrient-dense diet: Reduce processed foods, eat more fresh fruits and vegetables, whole grains, nuts and seeds, and other foods full of vitamins and minerals.
Get some fresh air: Take the opportunity to get outside and breathe fresh air. It can help energize you and relieve stress.
Exercise: Recent studies have shown that sitting at a desk all day can be as harmful to your health as smoking or obesity. Because of this, the Mayo Clinic recommends working out for 60 minutes per day.
Take regular breaks: Working until you’re exhausted is not going to do your business any good. Instead, it causes you to lose focus, make mistakes, and burn out.
The importance of identifying your “why”
Your “why” is the reason you have for starting a side gig and choosing a particular type of business. It’s what will help you continue striving for your business goals even when you’re tired, bored, or struggling with imposter syndrome.
It may take some digging to determine your true “why.” Some people think they want a side hustle (“I love this topic/idea”) but quickly realize that their enjoyment of a certain task or even making extra cash isn’t quite enough.
Keep digging until you find your purpose. Doing so is one of the best ways to ensure success in making money from a side hustle.
Interested in starting a side gig journey with Vector? Contact us right away to request an interview.