Determining the Right Side Hustle (Side Business or Job) for You


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Nowadays, everyone is looking for additional side income. The web is full of ideas but few guides on how to find the right part-time gig. Before deciding on a business or income opportunity, be sure to do the following first.

Identify Your Passion
For starters, think about what your true passions in life are before proceeding. As the old saying goes, work isn’t really work if you’re enjoying yourself. Being passionate about your side job can only increase overall profit and productivity.
Consider Your Temperament
The right side job or business for you really depends quite a bit on your own unique personality. If you’re more of an introvert, for instance, a side business that requires sales savvy probably won’t work out well for you.

Examine Your Skills
Obviously, you’ll need to assess your strengths and weaknesses before making a decision regarding any sideline. Make a list of your core capabilities, technical expertise, general business knowledge and the like and compare it to the job requirements for any position.

Estimate Startup Capital
Many freelancing opportunities and side jobs require little or no money to get started. On the other hand, starting your own business can entail a large, upfront financial investment on your part. Do your research if you plan on starting your own business.

Get Your Schedule in Order
You’ll need to carefully consider how much you want your extracurricular work activity to impact your professional and private lives. Estimate how much time you have available to devote to your outside pursuits and plan for them accordingly.

Think About Location
Another important factor to consider is the location of your side job or business. If you want to start a solo consulting business or e-commerce outfit, your home office will suffice. Otherwise, you’ll have to consider commuting time and office space expenses.

Determine Your Level of Commitment
Another important variable to take into consideration is just how far you’re willing to take any side job or entrepreneurial project. For some, it’s just a way to bring in extra money. For others, it’s the first step on the path to financial independence and self-employment.

Calculate Profit Potential
The most valuable commodity in the world is time. Estimate how profitable your prospective side job is likely to be in terms of dollars per hour. This will help you to weed out sidelines that just aren’t worth your time and effort.

Consider the Learning Curve
Jumping into a new line of work on the side can be both exciting and challenging if you’re not entirely familiar with the required skill set. Consider how long it will take for you to get firing on all cylinders in your side job.

Long-Term Goals
Before embarking on your extra income journey, think about where you want to end up eventually. Always have a “Five Year Plan” in the back of your mind regardless of the business or second job that you decide to take on and use it to stay on track.

Making a Choice
More and more, ordinary people are looking beyond their primary employment for extra cash. In order to be successful, you need to ask yourself the right questions first. Make sure to keep the above considerations in mind when scouting side income possibilities for yourself.

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SideHustleHQ