So you’re thinking about starting a side hustle? That’s great!
A side hustle can be a great way to earn some extra money, and it can help you explore your interests and passions.
It can also be a fun and rewarding way to spend your time. It can also help you transition into entrepreneurship.
With the rise of the gig economy, more and more people are looking for ways to earn extra money. Whether it’s to pay off debt, save for a rainy day, or fund a passion project, you might want to pick up a side hustle.
But with so many options out there, it can be hard to know where to start.
So how to choose a side hustle that’s perfect for you?
Don’t worry, we’ve got you covered!
In this blog post, I have listed the top 13 tips for choosing the perfect side hustle for you.
Finding the perfect side hustle doesn’t have to be complicated. Just use these simple tips to guide your decision-making process, and you’ll be on your way to earning extra money in no time!
Let’s get started!
13 Tips on How to Find Your Side Hustle
Here’s a list of my top tips on how to choose a side hustle that I have curated based on my learnings over the years.
Tip #1: Determine Your Goals
Before you choose your side hustle, the first important step is to think about your goals. What do you hope to accomplish by starting a side hustle?
Are you looking to make extra money to pay off debt or save for a specific goal? Are you hoping to explore a new interest or passion? Do you want to eventually quit your full-time job and transition into entrepreneurship to work for yourself?
Answering these questions can help you narrow down your options and make it easier to find a side hustle that’s right for you.
For example, if your goal is to pay off debt, you may want to choose a side hustle that has the potential to generate a lot of income quickly (like matched betting). On the other hand, if your goal is to eventually quit your full-time job and work for yourself, you may want to choose a side hustle that you can eventually turn into a full-time business.
Tip #2. Do Your Research and Figure Out What Interests You
When choosing a side hustle, it’s important to take your time and do your research. There are a lot of options available, and it’s important to find the one that’s right for you and motivates you.
If you’re passionate about something, you’re more likely to stick with it for the long term (and avoid burnout). There are lots of ways to make money, so take some time to explore your options and find an activity that really speaks to you.
Don’t miss: 40+ Passive Income Ideas (2022)
Tip #3. Consider Your Skills and Talents
The next tip is to consider your skills and talents.
A great place to start is by thinking about the skills and talents you already have. What are you good at? What do you enjoy doing? What comes easily to you?
Answering these questions can help you zero in on a side hustle that plays to your strengths.
We all have different skills and knacks, so picking a side hustle that plays to your strengths is important. Not only will you be more likely to enjoy it, but you’ll also be more successful.
For example, if you’re a whiz with numbers, you could start a bookkeeping business. Or if you’re a gifted writer, you could launch a freelance writing career. Once you’ve identified your core strengths, research businesses in your area that could benefit from your skills. With a little effort, you’re sure to find the perfect side hustle for you.
If you’re not sure what your strengths are, ask a friend or family member for their honest opinion.
Tip #4. Narrow Down Your Options
…selecting the ones that excite you the most.
When it comes to finding your side hustle, it’s important to narrow down your options from the list you’ve come up with by using tips 1-3.
Once you’ve done that, you can research each option in-depth and figure out the best fit for your skillset and lifestyle.
Taking the time to do your homework upfront will increase your chances of picking a side hustle idea that’s both enjoyable and profitable. And that’s a win-win for everyone involved.
Tip #5. Take a Look at the Potential Income
When you’re looking at different types of side hustles, it’s important to consider the potential income you could earn from each option. After all, you don’t want to waste your time on a venture that isn’t going to generate much in the way of financial rewards.
But how can you assess the earning potential of a side hustle?
One method is to look at the rates that other people in your field are charging for similar services. If you’re thinking of starting a dog-walking business, for example, you can check out the going rate in your area and set your prices accordingly.
Another way to estimate earnings is to calculate how many hours you’ll need to work in order to achieve your desired income. If you want to make an extra £500 per month, you’ll need to figure out how many hours that would require and whether or not you’re realistically able to commit that much time.
Tip #6. Weigh the Pros and Cons of Each Option
The next tip is to weigh the pros and cons of each option. For instance, some side hustles may be more profitable than others, but they may also require more time or effort.
If you’re only looking for a way to make some extra pocket money, you might not want to take on a side hustle that requires a lot of time and energy. Some side hustles may not pay very well, but they can be a great way to get started in your own business.
You might be drawn to a particular opportunity because it seems like easy money. However, it’s important to consider whether the payoff is worth the effort.
For example, if you’re thinking about starting a pressure washing business, you’ll need to factor in the cost of equipment, advertising, supplies, commute and insurance.
Choosing a side hustle that’s more challenging could be more rewarding. It might take longer to get started, but the potential earnings may be higher.
It’s up to you to decide what’s more important: making quick money or building a long-term business.
Tip #7. Consider the Time Commitment Required
When you’re looking for a side hustle, it’s important to consider the time commitment required for each option.
Some opportunities may be more time-consuming than others, so it’s important to factor that into your decision. If you’re already working full-time, you might not have much free time to devote to a side hustle.
In that case, you might want to choose an opportunity that doesn’t require a lot of time and effort.
On the other hand, if you’re looking for a way to make some extra money, you might be more willing to put in the extra hours. Just be sure to factor in the time commitment when you’re making your decision.
Tip #8. Pick Something You Can Do On Your Own Time
Depending on your situation, you might want to pick the type of side hustle that allows you to work on your own time.
One of the best things about a side hustle is that you can usually do it on your own time.
That means you can work around your full-time job, family, and social commitments.
For example, if you’re a stay-at-home parent, you might want to choose an opportunity that allows you to work around your child’s schedule.
Or, if you’re already working full-time, you might want to pick a side hustle that allows you to work evenings and weekends.
Of course, that doesn’t mean that you can just set your own hours and work whenever you feel like it. You’ll still need to be disciplined and put in the effort to make your side hustle successful.
But the beauty is that you have more control over your time than if you were working for someone else.
Tip #9. Talk to People Who Are Already Doing It
When evaluating a side hustle, it’s important to get input from people who are already doing the thing you’re interested in. They can tell you the reality of the work, what the hours are like, and how much money you can expect to make.
It’s also important to ask about the downside of the work.
What are the stresses? What are the challenges? Talking to people who are already in the trenches can give you a realistic idea of what to expect if you decide to pursue the same side hustle.
Tip #10. Get Feedback From Others on Your Ideas
One of the most important things to do when selecting your side hustle is to get feedback from others.
Talk to your friends, family, and even strangers about your ideas. See what they think about your plans and whether or not they would be interested in using your services.
Don’t be afraid to ask for honest feedback, even if it’s not what you wanted to hear. It’s better to know now if your idea has potential before you invest a lot of time and energy into it.
Solicit input from a variety of people to get the most well-rounded feedback possible. You may also want to look for online forums or social media groups where people are talking about starting side hustles. This can be a great way to get ideas and get feedback on your own ideas.
But, I must add one very important point here: don’t overdo it!
Don’t spend so much time talking about your idea that you never actually get around to doing anything.
At some point, you need to take action and see if your idea has legs.
Tip #11. Make a Final Decision and Take Action!
When it comes to side gigs, it’s important to make a final decision and take action.
This may seem like an obvious step, but many people get caught up in the planning phase and never actually start their business.
I have been there, done that! But what I have realised over time is:
If you’re serious about making extra money outside your daily job, you need to pick a direction and go for it.
Of course, this doesn’t mean that you shouldn’t do any research beforehand. You should still take the time to figure out what type of side hustle business you want to start and what steps you need to take to make it successful.
But at some point, you need to stop planning and start doing. The sooner you take action, the sooner you’ll be on your way to earning more money.
Tip #12. Pick Something With Low Start-up Costs
This is another important tip when picking your side hustle.
After all, you don’t want to invest a lot of money in something that may not pan out.
Instead, it’s better to choose an opportunity with low start-up costs so you can minimize your risk. There are plenty of side hustles that fit this bill, from freelancing or selling products online to offering services like dog walking or home cleaning.
Do some research and find an opportunity that won’t break the bank to start a side hustle. This will give you a much better chance of success in the long run.
For example, starting a blog carries a very low startup cost – you can get started for as little as £1.98/month with Bluehost. Your site can be up and running in less than 15 minutes.
On the other hand, a business like a home cleaning service will require a bit more investment. You’ll need to purchase supplies and equipment, as well as marketing to get the word out.
But, even with a higher startup cost, it’s still possible to find ways to keep your expenses low. Like, you could consider hiring certain tools than buying them at the start and as your idea picks pace, invest in your own equipment.
Tip #13. Just Do It: Get Started Today
The final tip is the most important one: just do it!
Use the tips on this list and get started today.
The best time to start your side hustle is right now! Don’t wait for the perfect opportunity or the perfect idea. Just get started and see where it takes you.
I know it can be tough to take the leap and start your own business. But trust me, it’s worth it.
A side hustle can give you the freedom and flexibility to work on your own terms, make your own hours, and earn extra money.
There you have it! My top tips for picking the perfect side hustle.
I hope these tips have helped you narrow down your side hustle options and get started on your entrepreneurial journey.
When it comes to choosing your side hustle, there are a lot of factors to consider. But if you keep these tips in mind, you’ll be well on your way to finding the perfect opportunity for you.
Do your research, be clear on your goals, talk to people who are already doing what you’re interested in, get feedback from others on your ideas and keep your start-up costs low.
Don’t be afraid to take action! Just go for it. Experiment.
Just remember, there is no perfect side hustle out there.
Do some research and figure out what interests you: This is a great place to start.
What are you waiting for? It’s time to take action and make your dreams a reality!
Now, over to you!
What’s the one key takeaway for you from this post? What side hustle are you thinking of starting?
Let me know in the comments below!
If you have any questions or need more help, feel free to reach out to me. I’m always happy to help!
(Don’t hesitate to drop me a message if you want to discuss ideas.)
Now go out there, start hustling and make some extra cash! 🙂