Some people make all the money they will ever need. Good for them! They worked hard for that success. The rest of us, however, work a job we love but don't make as much money as we would like.
The need for a side hustle could grow out of a goal, such as saving for a house or paying down debt, or it simply could be a way to create a little breathing room in a budget.
One of my favorite stats to trot out to prove my point for side hustlin' is this: most millionaires have an average of seven income streams.
And if you think about it, this makes sense.
They make gobs of money, it makes sense that it comes from more than one place. Looking at other personal finance blogs, nearly ever blogger I know has a side hustle because it makes good financial sense.
Me? My blog used to be my side hustle until I turned it into my full-time income stream.
Now that I'm blogging full-time, I'm currently on the hunt for a new side hustle, which got me thinking about what it takes to make money on the side, so I put together this guide.
Here it is in all it's glory: how to find a side hustle idea, how to find your first clients, how to grow your side hustle, and tools to help manage your side biz all in one place in a neat, pretty package.
The opportunity for income growth fell into my lap in 2013 when I was approached by a coworker. We were both working at a tech start-up (she as a designer, me as a writer) and she had a thriving design firm she was running on the side that is now a big-time agency in Atlanta.
She wanted to add content services to her business, and approached me about doing SEO for a design client since I'd been doing so much of it at my day job.
It then dawned on me in a beautiful instant---I have marketable skills other than just my wit and charm!!
And from there my "side hustle" was born.
Step #1 - Determine What Your "Side Business" Will Be
The biggest question: What are you already doing that you could monetize or package in a different way in order to make side income?
The second question: Is there a need for this business?
Still stumped on ideas? Here's some awesome posts to help you get started:
Step #2 - Start Small (a.k.a Ask People You Know)
I started my blog in 2012 because I wanted to write. I never intended to start a side hustle outside of the small income my blog made at the time, but when a graphic designer friend asked if I could do some copy for a website she was building for one of her clients, I said yes.
......And that work turned into a referral to another client of hers and suddenly I had 2-3 clients I was working with on a monthly basis.
If you're looking to start a side business start small and do two things:
a) figure out what product or service you want to sell
b) tap your personal network.
I have a friend who now runs a lucrative side business baking elaborate cakes and pies (which she used to do for free.)
Sometimes all it takes is a mention or a friendly email, "Hey I'm trying to start a small side business as a writer/cake baker/astronaut/whatever and am looking for clients. Please pass my name along if you know of anyone in need!"
I've been working with my social media assistant and graphic designer for nearly two years now and I couldn't live without them. I don't even worry about tax time because I have such a great accountant who gets how complicated my work, side business, and real estate situation can be.
My point is that I found all these people by asking around and getting great word of mouth referrals from family, friends, and my online network, which you should leverage FIRST before you turn to job boards, craigslist, or Elance.
Don't be shy, people love to recommend others who do great work for them.
It may also be worth it to do a job for a discount or freebie for a friend or family member in exchange for a glowing testimonial you can use for your website or marketing initiatives. (If you're doing a service based side hustle.)
Step #3 - Do Great Work, Deliver a Fantastic Product, Create a Memorable Experience
Step #4 - Get a Website (Or some place where people can FIND YOU online)
Even if you are side hustling under your own name, you need a website: either yourbusiness.com or yourpersonalname.com so people can find you, links to your work, information about pricing and services, and testimonials from happy clients all in one place.
Nowadays, it takes three clicks to build a website, so there really isn't an excuse for you not to have an online, digital footprint.
I mean, you Google your Tinder dates. And you likely wouldn't go out with someone who didn't show up online anywhere. Would you trust your hard earned dollars and business to someone who didn't even have a website (this is why when you're starting out you should attempt and work with PEOPLE YOU KNOW!)
Anyway, back to building a website. Seriously, three clicks. I use Bluehost to build my websites, and it takes three clicks to get my domain name uploaded onto a hosting platform, and the wordpress app installed. You can read my tutorial on how to do all of this here.
Your side hustle website can be as simple, or elaborate as you want.
Step #5 - Start Networking
Mastermind groups, your local chamber of commerce, professional associations: these are all rife with opportunities to meet people and sell your services. Just be sure to go armed with confidence, a smile, a business card, and be able to sum up what you do in three sentences or less.
Once you've networked and hopefully get a business card from a potential lead, then you can email a follow up about how you'd like to work with their company.
Step #6 - Add a "Hire Me" Page on Your Blog and Social Media Channels
If you are already online via a blog or are active on social media, simply adding a "Hire/Work With Me" page or putting out the word over social channels is all it takes!
Your business is so new and young, it takes awhile to get word of mouth out. The important thing to remember when starting a side hustle is that you have to ask for business when you're starting out.
Step #7 - Protect Yourself (Get an LLC)
Since I own my own home, and also have renters who pay me, I chose to LLC my freelance writing and content business to keep it separate from my personal/house expenses.
It also makes me seem incredibly legit. And since I have staff that I pay (graphic designers, staff writers) and have to prepare W-9's for them, it just makes sense to LLC and get my own EIN. You can read more about what it takes to LLC a company here.
Step # 8 - Get the Right Tools
What will you need to run your business? I use an accounting software, Dropbox, HelloSIgn, and many social automation tools to run my "side hustle."
Step #9 - Set up an Email List to Keep Marketing
Whether you are a freelancer, sell products online, or do one-time gigs here and there, it's important to keep an email list of your old and prospective clients and buyers. This way you can email them consistently or from time to time to pitch for work or remind them of what an excellent service and value you provide.
It doesn't have to be big or fancy, and not every side hustle needs a blog or super active content marketing strategy. But ever side hustle/business does need a way to keep in touch with those who are buying your products or services.
Hope this was helpful! Any other tips or questions you have about starting a side hustle? Sound off in the comments below!