A side hustle is a job that helps supplement the income you’re making from your full-time job. However, in contrast to a standard part-time position, there’s usually more flexibility with a side hustle — you choose the hours you work and call the shots. With the popularity of e-commerce, freelancing sites, and services like Etsy, Thumbtack and Lyft, it seems that there are more opportunities than ever to run a successful side hustle.

Finding the side hustle that’s right for you

Because doing work in addition to your full-time career requires an extra dose of motivation, a side hustle is typically a job that you’re passionate about. If a potential gig doesn’t immediately come to mind, it may help to:

  • Think about the things that inspire you
  • Take stock of your skills
  • Try to identify a need in your community that isn’t being met

Property management, ride-sharing and child care are some of the more popular side jobs, but don’t be afraid to get creative.

Knowing the common challenges

Even when your side hustle is your passion, taking on extra work will always have its challenges, including time management issues that come up when you’re balancing your full-time job, side gig, hobbies and personal life. But on top of that, side hustlers struggle with everything from staying focused to securing funding. Although the term “side hustle” may imply a kind of informality, you should still create a business plan and stick to it before you get started or attempt to grow your current enterprise.

Turning your side hustle into a full-time business

People turn side gigs into full-time gigs all the time, but that transition isn’t one that should be made haphazardly. A few signs that you’re ready to make the jump include:

  • You have a business plan
  • You know how to speak up and market yourself
  • You’re making enough money to support yourself
  • You can manage your time efficiently
Ready to form your business?

Get the tools and guidance you need to set up your business entity. MyCorporation, a Deluxe company, makes it easy.

So, who should consider a side hustle? For a start, anyone hoping to achieve financial stability, dip their toes in the entrepreneurial waters or develop skills that will enable them to make a career change. But before you dive in — or take your current gig to the next level — check out this infographic to find out everything you need to know to master the art of the side hustle.

 

Ready to form your business?

Get the tools and guidance you need to set up your business entity. MyCorporation, a Deluxe company, makes it easy.

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