It’s pretty safe to say that we could all use more money – unless you’re just filthy rich that is. There are hundreds of ways to make money with a side hustle or a business idea. Starting a side hustle or acting on a business idea can be an easy way to improve your financial situation and boost your income. It can help you save for a house or car, pay down debt faster, create an emergency fund, boost your retirement account – or whatever you decide to use it for.
Not All Side Hustles or Business Ideas Are Created Equal
While you can ask for a raise or switch jobs to make more money, those options aren’t always available. That’s where a good side hustle can fill the gap. No matter where you’re from or what background you come from, technology has made it much easier to work on your business ideas or start a side hustle. With the advent of advanced technology, earning money now is literally at your fingertips.
Here are seven business ideas/side hustles that can make you $1,000 plus per month. Make sure you find an opportunity that is within your skillset to ensure you deliver value.
- Sell items on Amazon, eBay, Craigs List, BeSmartBuyBlack.com, or Walmart – Depending on how much time and money you want to spend, you can easily make money selling new and used items online. The simplest way to do this is to clean out your home or apartment and put your used items on eBay or Craigs List. These two platforms are the best for used items. There are other platforms like Facebook Marketplace and others to help sell items locally. If you want to invest a little more time and money, you can do retail arbitrage and buy products from a store at a discount and resell them on Amazon or Walmart.com.
2. Drive for Uber, Lyft, Door Dash, or Other Delivery Services – If you have a vehicle, you can easily make money by tapping into the gig economy. Gig economy is defined as “a labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs. Driving for these types of companies can be profitable and they are flexible which allows you to work them around your schedule.
3. Rent Out A Spare Room on Airbnb – Hey, if you have extra space you don’t need, renting out a room on Airbnb is a great way to make extra money. If there is a big event in your city, that’s a perfect time to rent out your space for maximum profit. You get paid 24 hours after a guest checks in, which helps to avoid any problems or potential scams that might arrive. Some people earn their primary income just by renting out rooms or homes on Airbnb.
4. Sell Services on HireBlackFreelancer.com, Fiverr, or Freelancer – You can sell just about anything on these platforms, from resume writing services, building websites, to writing articles. This is a great way to monetize your superpowers.
5. Become A Personal Shopper – Want to shop for others? You could effectively become a personal shopper. If you live in an urban metropolis with concentrated wealth, then personal shopping services are in high demand in your area. Scour the web and other online resources such as ThumbTack.com to find people looking for personal shoppers.
6. Sell Products on Etsy – Use Etsy to sell crafts or other homemade items. Etsy is one of the largest resources for selling handmade goods on the internet. You could also sell digital items such as digital posters that can be printed out.
7. Become A Virtual Assistant – Virtual assistants are in high demand, but it only makes sense from an income standpoint if you have lots of free time and you’re very organized. It also doesn’t hurt to live in an area with a lower cost of living.
How to Start a Side Hustle
So, you finally have decided that a side hustle or working on a business idea is the best way for you to make extra money, but you don’t know where to start. Here’s a list of steps to follow for you to start a side hustle today!
- Make a list of what you’re interested in – You need to love what you are doing as a side hustle for it to be successful for you. This job will be done on your own time and outside office hours if you have a day job, so it will take a lot of energy and motivation to make it stick. Only something that you are passionate about will drive you this much. Brainstorm side hustle ideas around your interests and skills to discover the best ventures to start or see if you can turn a hobby into a business.
- Decide early if you will invest money – Side hustles shouldn’t cost too much money, but they may require some investment up front for things like product, branding, and tools. You may decide that you want to do social media marketing to get your first sale. Whatever your growth and expansion plan is for your side hustle, you need to be aware of your spending before it happens. Plan your spending accordingly and measure your success to know whether you should continue.
- Investigate Several Side Hustles & Business Ideas – make sure you do your research before you start your side hustle or move on your business idea. A good place to start is right here on this page by listening to podcasts about side hustles and business ideas and then enrolling in the BEB Academy to get more resources to grow your business. Go to www.BEBAcademy.com and get 5-days free access to the academy and elevate your entrepreneur IQ.
- Make sure there are no conflicts of interest – If you have a day job or have connections that could lead to a conflict of interest with your side hustle, then it is not a good idea to continue with it. Sometimes, the best advice is to try something else or to shelf your idea for another time so that you don’t end up doing something you regret. Starting a side hustle with a conflict of interest could lead to costly lessons learned.
- Schedule time for your side hustle – A side hustle takes time out of your schedule daily, so ensure everything is going right. It is not possible to set up your website, schedule your content, and forget about everything until next month. Set aside time in your calendar regularly for your side hustle and outline actionable goals for this time to ensure what you are doing is valuable. If you have a day job, aim to give three to four evenings a week and perhaps some hours on the weekend to your side hustle, depending on what it is.
- Don’t forget about your day job – If you are setting up a side hustle while also having a day job, remember to put 100 percent of your energy into your day job when you are there. A side hustle will give you some money, but you rely on a check from your day job that you need to pay the bills. Try not to juggle your day job and side hustle within your 9 to 5 hours, as this is a recipe for disaster.
Conclusion
Your side hustle can help you make money and earn some extra cash each month. But it can also help you develop new skills, build your personal brand or portfolio, and achieve more freedom. If you’re successful with your business idea or side hustle, it may turn into a successful full-time business.
