5 ideas for starting a side hustle
Maybe you’ve thought about exploring your options for a side hustle to make some extra money. But how do you set one up? And what type of side hustle would be worth your time and effort? Read on for the answers to these questions and more.
First, for those who aren’t familiar with the term, a side hustle is a business you can create to supplement your regular income—one that, if it’s successful enough, could possibly even become a stepping stone to a whole new career. Here are some easy-to-begin side hustles to inspire you:
1. Start a dropshipping business
If you like marketing and you have a product idea, dropshipping may be an ideal side hustle for you. This method lets you sell a product directly to consumers purchasing or managing inventory. The product manufacturer carries the stock and ships it to the customer for you. If you consider this option, you’ll also need an infrastructure for customer service to ensure you provide a great end-to-end experience.
2. Create a wholesale business
If you want to be more hands on, you could start an online wholesale business where you buy products in bulk at a lower price and then sell at a higher retail price. However, you’ll need to have the time to source products, work with suppliers and handle the logistics of getting products to your customers. You may have to hire a team to manage certain aspects of your wholesale business, too.
3. Pick up freelancing gigs
You can make good money taking on freelancing jobs for everything from writing to graphic design to housecleaning. If you can build a solid client base, you could even transition completely to a gig-based income. To get started, try posting on sites like Upwork, Freelancer.com, Guru and other reputable freelance sites to find clients you can work with.
4. Become an affiliate marketer
Having an affiliate marketing strategy can boost your income with no effort at all; it’s the ultimate form of passive income. You’ll need to determine the type of affiliate sites you want to promote and how to get referrals from those affiliate links. Start with an easy win like an Amazon account and then progress to proactively pitching companies to become an affiliate and earn some sponsorship dollars, too.
5. Put print on demand (POD) in place
A POD business may be perfect for you if you enjoy creating a brand, designing artwork and managing customer service. By signing up for a store through Printify or another POD platform, you can start to gradually grow your business. You can sell everything from t-shirts to travel mugs and more. Another benefit? You can combine this strategy with dropshipping to really amp up your side hustle income.
These are just five ideas for starting a side hustle; there are dozens, if not hundreds, of others you can explore. Imagine your own business structure, make a plan for achieving it and then get to work. Start now to benefit from a side hustle through the end of the year—and be set to really expand into 2023.Back to issue