A Sideline Business Can Improve Your Life
You can’t count on your job being around forever. Can’t avoid layoffs, your boss isn’t going to ask you, it just happens out of the blue. The way things are going, your job can probably be automated in the near future. It’s so important to have something else to fall back on. The time to start a sideline business is before you need it.
The beauty of a sideline business
There are many advantages:
- Start part-time(while keeping your day job)
- Low risk
- Learn as you go(slowly, no rush, no stress-because you need to eat and pay bills)
Starting one before you need it is much smarter and safer to your sanity. You don’t just jump in to the fire. Trying to be an expert immediately. You’ll slowly learn more and more about what works and what doesn’t.(Experience by doing)
I don’t want to shock your senses but you don’t just wake up tomorrow knowing how to run a successful business.
Unfortunately, a lot of people try to do just that.
They pick a business, get it set up and dive right in. Fully expecting to make $10k a month in no time. Even someone with years of business savvy, can’t just jump immediately to $10k a month. Every new business has unexpected problems come up. Every market responds to advertising differently.
Sideline Business Problems You Face
There’s a whole book full of questions you need to answer and problems to solve…
- Who will you sell to?
- What will sell?
- How to sell it today?
- How to setup any business legally?
- How to market your products?
- How to beat the competition?
That’s just a few of them.
Starting part-time is the answer for you if you want to succeed. And to make money sooner rather that later. The more you rush into anything, the faster you might fail.
A good way to start is to research and see exactly what others are already doing. You can actually see how many businesses are doing online. Simply by going to fiverr.com, upwork.com or etsy.com(you can see how many sales they made).
That’s real data!
You can see the bestsellers on most websites. It will give you a lot of ideas.
Potential Side Business Ideas You Can Start Slowly Part-time
- Provide a service (writing, photos, videos, Virtual Assistant, Voice-overs, 100’s more…)
- Work a Gig job (shopping, transportation, delivery- these all get the jobs for you!)
- Sell a product people want to buy ( create, solve a problem, Art, Books, Crafts, Vintage clothing, Jewelry, Printables)
- Buy and Resell products (amazon FBA, Ebay, Auctions)
- Promote and sell other peoples products (Affiliate marketing, Joint-ventures, partnerships)
The secret to a profitable Side Business is to just find what people are already buying and then create your own unique product that solves an un-met need. Something better, faster or easier than others are offering. How can you make it better, faster or easier? If everyone is selling books, people will most likely want it in video form. Or done faster. Or simplified. Or even guaranteed.
If everyone else has 7 day delivery, offer 3 day.
If everyone else is selling printables, sell done for you and ship it to them complete.
If something is only delivered on weekdays, can you deliver or do the work on the weekend?
Do You Need A Website For Your Side-Hustle Business?
Definitely not today, although it makes you look more legit. Don’t stress about a website, they cost less than $100.
But you can use a simple Facebook page to get started or a Facebook group. Heck, even a YouTube channel works. You just need somewhere to send people for more information on what you do, how it helps and how to get it.
Do You Need A License To Start A Part-Time Business?
Technically yes, but don’t be afraid to get set up and test your idea first. See if you can get any sales. Just keep good records and stay legit. Report your income to the IRS. That’s who you need to worry about.
Let’s say you start your part-time business and get caught by your town or state. In most cases, they are just going to tell you that you do need a license/tax cert. , see they need more businesses and will usually help you get setup when required. Now check your local area laws, I’m no lawyer.
But I can say most of the businesses I have started in the past were without a license. I always waited until there was some sign of success, and people were actually paying me. Licenses and fees can get excessive really fast.
Do your research and find something that is a proven seller and appeals to you. You’ll be doing this for months if not years, make sure it’s something you can stick with until successful.
Start looking for side hustles that make money. What are other entrepreneurs doing?
Best weekend jobs, easy part-time jobs and evening part-time jobs can all add to your income without killing you.
Even just $500 extra each month is a huge help for your budget and improves the quality of your life.
Test one out and you can always move to something else if that first one doesn’t seem to make money. Don’t feel bad, move on to the next idea. The faster you try it out and know, the better. 90% of businesses don’t make it 10 years.
That’s exactly what I have done in the past and still do. Setting up a variety of part-time side gigs, they add up to extra income. It’s your escape plan, if you need it in the future.
There are a lot of ideas right on this website on how to make an extra $500 a month. Take a look while your here.