Looking for ways to earn some extra money in addition to your job? Then you’ve come to the right place! In this guest blog, written by Sandra from ikbenjanmodaal.nl, you will discover how to start a profitable side hustle in just 6 steps. For her blog, Sandra tests out all kinds of side hustles. From selling on bol.com to filling out online surveys: she likes to share her tips, experiences and results with you.
Why you want to have a profitable side hustle
A side hustle can make all the difference in being able to make ends meet each month. It can also be a source of fun, if you use the extra income to do fun things. Aside from the fact that having more money is always nice, there are other reasons why you might want to have a side hustle.
- If you are happy with the salary of your 9-5 job, but still don’t find the fulfillment you are looking for, starting a side hustle may be that missing element in your life.
- It can also be a stepping stone to starting your own business. By having a side hustle alongside your job, you maintain a degree of financial stability while you work on building your own business.
- In addition, many side hustles are genuinely fun to do. It can be a fun hobby that you get paid for too! How nice is that!
- And let’s not forget the personal growth that comes with having a side hustle. It offers the opportunity to learn new skills such as writing, negotiating, designing and, of course, entrepreneurship. It can be a valuable addition to your professional and personal development.
1. Delve into the possibilities
I don’t want to overwhelm you with hundreds of different side hustles, but the truth is that there are really lots of ways to earn an extra buck. In the orientation phase, it’s wise to familiarize yourself with what’s out there. And no, you don’t have to start them all right away, nor do you have to immerse yourself in exactly how a side hustle works. Simply take some time to go through some different options and write down which side hustles seem fun to you. In the articles below, for example, you’ll find all sorts of different side hustles.
- Making money from home: 11 side hustle tips
- Side hustles for additional revenue
- Make extra money with 100 sidehustle ideas
2. Make money fast or make a lot of money?
In the first step, you made a list of some side hustles that appeal to you. In the second step, you’re going to divide these side hustles into two categories: side hustles that make you money fast and side hustles that make you a lot of money. Funnily enough, almost all side hustles fall into only one of these two categories.
- The side hustles that make you money fast are the side hustles where you trade your time for money. You are guaranteed to get paid, but it will never make mega money. After all, there is a limit to how many hours you can hustle. Examples of these side hustles: taking surveys, mystery shopping, testing websites, transcribing, subtitling videos, becoming a pet sitter, etc.
- With the side hustles that allow you to make a lot of money, it usually takes a longer time before you earn your first penny. Also, there is no guarantee that you will earn anything at all. The advantage, however, is that there is no limit to how much money you can earn. Examples of these side hustles: affiliate marketing, blogging, starting an online shop, social media creator, selling on Etsy, starting a YouTube channel, etc.
One category is not necessarily better than the other. It is only important that you can distinguish between these categories and that you can make a conscious choice between the different business models.
3. Choose up to two to start with
There are so many ways to make money online, and many of these side hustles are also a lot of fun to do! However, don’t make the mistake of starting too many side hustles at once. After all, it takes time and energy to start a side hustle really well. That is why I always recommend choosing only two side hustles to start with. I myself would prefer to choose one side hustle with which I can earn money quickly and one side hustle with which I can earn a lot of money in the longer term. That way you can make money immediately, while taking your time to set up a profitable side hustle with which you can make a lot of money. In short: this way you can eat from both sides. You can always choose to try more or other side hustles later.
4. Make a realistic plan
You’ve chosen two side hustles and you can’t wait to get started. Let the euros roll this way! But wait a minute… It’s important to stay realistic and make a good plan for your side hustles. And no, that doesn’t have to be a comprehensive business plan. Ask yourself these questions (and write down the answers):
- What do I need to start this side hustle? Consider time, investment and knowledge.
- What are the first 1-3 steps I need to take to start this side hustle? You don’t have to have the whole path already mapped out, just just enough to get started.
- What is a realistic timeframe to make money with this side hustle?
5. Learn from experts by experience
You now know which side hustles you want to try, and you also already know what you need to start them. Of course, learning more about the side hustles in question is always a good plan. That’s why it can be smart to gather knowledge first. The worldwide web is of course the ideal place for that! You can take all kinds of online courses or, instead, immerse yourself in free tips and advice via blogs, podcasts and YouTube videos. Whatever it is that you want to do: others have already become successful with it. Take advantage of that so you don’t have to reinvent the wheel yourself.
6. Dare to try (and fail).
Starting a profitable side hustle doesn’t have to be “perfect” right away. Maybe you start in high spirits, only to find out after a week that it really isn’t for you at all. Maybe it’s harder than you thought. Or maybe the tasks involved are not for you. That’s possible and that’s okay. Expecting everything to be perfect right away is 100% unrealistic. Dare to try, dare to fail, but at least make sure you start. Never shot is always wrong! And who knows, maybe you’ll become the next side hustle millionaire… 😉
Don’t believe everything you see online….
On social media you will find the most beautiful stories of the most successful people who made thousands of dollars in a few weeks with side hustle Y or X. Very nice, but this does not mean that you can do it too.
Some people get “lucky” and go viral on social media, are spontaneously promoted by an influencer or accidentally end up on the homepage of a well-known marketplace.
As a result, they suddenly become wildly successful.
This is to their credit, but most people only achieve success by continuing to try and consistently tinker with their side hustle, even when it does not turn out to be an instant success.
Making money online with profitable side hustles is certainly not a scam and it is 100% worth trying, but don’t believe everything you see online.
It often lacks context, is suggestive and – very occasionally – is itself one big lie.
