A Foolproof Guide on How to Know Which Side Hustle To Pursue
Side hustles are becoming more and more popular.
Some people want to monetize a passion project. Others seek to test out creative ideas. And many simply try to find ways to improve their paychecks.
Whatever the reasons for starting a side hustle, it’s critical to know what you’re getting into.
In other words, knowing whether side hustle X or Y is suitable for you will put you ahead of the curve.
Throughout my three-plus years in online business, I’ve tried out dozens of side hustles with mixed results. Some have become profitable business ventures, while others were nothing more than hot air.
As such, I’ve defined a few rules to identify the right side hustle for you.
On this basis, here is a foolproof guide on how to know which side hustle to pursue.
Having a plan
The first point to consider when embarking on a side hustle journey is to ask yourself what your plan is.
Are your goals purely financial? Do you want the side hustle as a perennial side hustle or a stepping stone to something bigger? And most importantly, how much time, money, and effort can you invest for result X?
Many people start a blog or Youtube channel as a fun project without aspirations. And there is nothing wrong with that.
A side hustle, however, is — by definition — an activity you want to monetize. If it’s not, it’s a hobby. As such, it makes more sense to go into it with an idea of what you want to do.
Today, every side hustle niche — blogging, Youtube, freelance writing, or consulting, is highly competitive. Consequently, the days of starting a side hustle just for fun and then turning it into money “by accident” are over.
Define your goals, and you’ll have a realistic chance of making money online thanks to a simple mindset shift: you’ll consider the timeframe.