What Is A SideHustle?

QUESTION : MONEY – ANSWER : SIDEHUSTLE

In its most broadly-used sense, a side hustle is any activity outside of your day job that helps make more money. Technically this can mean a part-time job or work done for “side gig” apps like Airbnb, Uber or Fivver .

But not all side hustles are created equal. A part-time job may be good seasonally, but in slower months, limited hours can mean limited funds. Gig apps like Uber might work for making a couple of extra bucks in a pinch, but these options tend to have payment structures designed to minimize the payout to users providing the service.

If you want to know the best side hustle ideas, look past the part-time jobs and task apps for side hustles that provide flexibility, space for professional growth, and a way to earn income in your spare time.

Questions To Ask When Considering a Side Hustle.

Side hustles are a great way to earn extra income but, like all new ventures, they require a bit of legwork upfront in order to get traction. If you don’t choose an idea that fits your current lifestyle, it’s easy for this extra work to sink to the bottom of your to-do list and, eventually, fall by the wayside. For this reason, durable side hustles often feel less like a chore and more like a creative outlet that places craft and commerce on equal footing.

Although side hustles don’t always become full-time jobs, it’s common for side hustlers to gravitate towards this option once their venture becomes profitable enough. If you want a side hustle that could eventually become your career, here are some things to consider.

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1. Does the idea fit your current schedule?
You’re going to be dedicating a meaningful amount of time to this side hustle, so it helps if that time fits into your schedule. A side hustle should be something you can do outside of your 9-5 job, but that won’t interfere with or keep you from that job.

Things will come up at your full-time job. Some days, you may have to pick up an extra shift, work overtime to finish up a project, or have obligations like meetings and team-building events.

If you want to make sure you put time into your side hustle, it helps to pick something that’s easy to re-schedule. Side gigs like dog-walking or babysitting might seem appealing, but remember these could be more difficult to arrange around your regular job.

2. Does the idea align with your passions and interests?
Working 40 hours a week is enough to take take most people’s creative energy by the time the day winds down. And after time well spent with family, friends, and personal responsibilities, it’s easy to see just how hard it can be to carve out additional headspace to work on a side project.

But it’s these hours tucked away in life’s margins that tend to be the best time to do the focused work needed to get something off the ground; the workday is done, the weekend is still a couple of days away, and since you’ve already watched all the true-crime documentaries on Netflix, your schedule is wide open.

The hours tucked away in life’s margins are often the best time to do focused work.
But, try as you might, sometimes you just won’t want to work.

That’s why it’s ideal if your side hustle closely pairs with what you’re passionate about, even if it’s not the end-product itself. That might mean some aspect of running things behind the scenes, or maybe it’s just immersing yourself in a new topic or field of interest.

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3. Is the idea financially viable?
Although not every hobby should be burdened by the need for profitability, by our definition of a side hustle, we are looking to create some kind of return on time invested. That means your side hustle needs to be financially viable and, over the long term, relatively stable.

Most side hustles aren’t profitable right away since your primary focus is tweaking your product or service and finding how best to reach your first clients or customers. You want to keep costs low in the early stages and work exclusively on “ringing the cash register,” or proving out your idea with a sale so you can see what the numbers look like.

What does that mean exactly? Since the start of any project is completely lopsided in terms of time put in and revenue that comes back out, you don’t need to be as concerned with tracking your sweat equity.

But as you make progress and begin to make money, it’s important to understand how much it costs you, in time, to get a client, customer, or sale, and ultimately, turn your effort into profit. If your resulting margins or hourly wages put you in the red, your side hustle may not be sustainable.

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How To Work For Yourself

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When you work for someone else you’re putting all your eggs into one basket that you don’t own or hold. If you want to secure your financial future regardless of the bad economy, you need to be in control of your own life.

In a crummy economy where jobs are scarce, Scott Gerber, author of Never Get A Real Job, believes that the only way to secure your employment and financial future is to start a company.

“The resume-driven society says, ‘if we work hard and go to school, we’ll get a job and be ok.’ That traditional thinking no longer applies,” says Gerber. “Now, more than ever, you need to be entrepreneurial to be successful; you need to create a job to keep a job.”

Ready to take a stab at entrepreneurship?

First, you’ve got to curb your ego “You can’t build a successful business if you don’t have your priorities straight and ego in check.

While entrepreneurs should be confident, if you go overboard you’ll get in your own way.
Keep it simple, stupid “If your idea is not simple, you’re stupid,” says Gerber. “Build a business that is nuts and bolts practical and not complex.”

“Create a simplified product or service that sells X product to Y customer for Z profit,” he says.
Always be prepared for the worst-case scenario (because it will happen) “Every decision should be thought through; plan for the worst so you’re not caught off guard if it happens.

“Come up with three alternatives for every decision so you’ve taken all outcomes into consideration,” he suggests.
Be unoriginal “Too many people think they need to reinvent the wheel, but if they do, the wheel will run them over,” says Gerber. “Instead, focus on bettering an idea that already exists.” Use creativity to market an unoriginal idea. “Think of the guys who started College Hunks Hauling Junk,” says Gerber. “They put a creative spin on a pre-existing idea. At its core, it’s just a junk removal business.”
Make sure your business isn’t a bottomless pit “Start a business that is efficient with few monetary demands in the beginning,” says Gerber.

For entrepreneurs will minimal resources, Gerber says to start a business around the little cash available. “Your ideas, then, need to be focused on making money. When I started out, I didn’t have much at all. I just focused on business ideas that could turn a profit quicker and didn’t have many startup costs.”
Become a brilliant cheapskate “If you want to start a business, you need to change the way you spend money,” says Gerber.

“Know the difference between an expense and a necessity that can be bartered, bargained for, or partnered on.”
Don’t partner with just anyone Assess if a partnership makes sense before you jump into it.

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“Your friends might seem like the best partners, but they might end up slacking off and doing nothing. Or someone who seems great might take you through the ringer later on,” says Gerber. “Make sure you evaluate what a partner can bring to the table and make sure it’s worth it.”
Toss the old school business plan Gerber is a fan of one paragraph startup plans. Anything longer is not necessary. “Stop thinking you have to write a business plan for investors or dense dissertations. You don’t need a traditional plan to be a small business owner,” Gerber says.

“Business planning isn’t a revenue-generating opportunity. Instead, get started on your business so you can make money as soon as possible.”

Gerber recommends writing one paragraph in question and answer format in lieu of a 95-page plan that takes six months to put together. “Don’t use business plan software, don’t listen to experts — they’re nonsense. All you need to do is organise your thoughts in a way that’s good for your business.”
Phones won’t ring themselves By this, Gerber means to constantly be marketing your company in new, creative ways.

“Put yourself out into the world. Always be selling yourself without being a used car salesman,” he says. “Join groups, network regularly, and find different ways to get your business in front of people.”
Be afraid Be afraid to have never failed. In other words, the idea of not trying should scare you.

“Be afraid to wake up 10, 20, 30 years from now and be pointing your finger at the TV saying, that was my idea!” says Gerber. “What you should never be afraid of is to never get a real job.”
Finally, stop listening to your parents and thinking you need to validate your degree. Most people have dreamt of being their own boss, setting their own hours, and having every minute of work be directly beneficial. According to Gerber, whether you’re just graduated or are already in the workforce, this dream is possible.

“University kids should be starting businesses. They are at the point in their lives where they can scale their livelihoods down, and they have extra time to put in hard work,” says Gerber.

“Generation Y: Stop listening to your parents and thinking you need to validate your degree with a ‘real’ job,” he cautions. “Instead, build your own financial future; use your time wisely now so it will pay dividends when you’re older.”

For people who already have traditional jobs, it’s not too late to start a personal endeavour. “Just take a look around and see that [by working for someone else] you’re putting all eggs into one basket that you don’t own or hold,” says Gerber.

“If you want to secure your financial future regardless of the bad economy, you need to be in control of your own life. That doesn’t mean that entrepreneurship is easy, but it allows you to make your own destiny. Every hour of work can be for you — that’s a major change from a 9-5 job.”

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Tips For Time Management

1. Decompose your crucial tasks and simplify the things

If you won’t simplify the things then you will be tangled and will lose your inner spark, so you have to remain fueled up and for this the solution is to decompose your crucial tasks, turn them out in fragments so it will be easier for you to deal out with them one after another, it won’t drain your energy and you will be able to grasp the tiny operations in full gusto. This strategy is tried and tested by successful entrepreneurs so you should also apply this strategy.

2. List up your primacies

You have to keep this mind that you should be able to meet with the deadlines, so you must list up your primacies, make a timetable of your priorities. Keeping in mind the tasks that are of great value in a long run.

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3. Pick up the easiest task of yours at the first place

Success motivates you that’s natural so keeping yourself motivated pick up the easiest task and accomplish it first then move on to the complex one. In this way you will be able to view your weekly progress and this will keep you enthused. After that you will be in a harmony as small series of success will boost up your confidence and eventually you will feel yourself ready for dealing with the complex tasks.

4. Make a plan that could work for you in a long run

A well-knitted and a long-term plan will be very fruitful for you, a long-term plan restricted you to stay focused and you get the clear picture of your upcoming tasks and the undone goals that are still to be targeted.

5. Keep refining your strategies

Entrepreneurs have to understand this that there is no final destination, as success is continuous process that doesn’t stop and thus your urge keeps seeking and it doesn’t have to stop you from learning more and more. Never turn a blind eye after getting your big goals achieved, rather get more serious in your work, keep tabs on the daily comings and goings, keep working for making things better by adding some new techniques and strategies.

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Don’t Be Arrogant

1. Honor other’s opinions and welcome other’s thoughts

No matter at which peak of success you are one thing that you should always remember as an entrepreneur is that never close the doors for others when it comes to listening to others ideas and thoughts, you should always welcome the ideas of others or your team members, no matter how immature and futile it sounds to you. For the interest of company that’s direly needed.

2. Be generous enough to face the challenge for improvement of status quo

For bringing brilliant innovations it is must for you to face the challenge in order to improve status quo of your company. The more you work for its improvements the bigger the progress you will make.

3. You must have clue what is yet to be learnt and what you are ignorant of

Never present yourself as the one who has all the know-how because we all know there is no end of learning, so you should be well aware of what you are ignorant of, so you may never get caught in any awkward situation. Get to know what don’t know and work for it.

4. Conduct free debates for getting maximum ideas

In the process of decision making never involve the conflict that is based on the ideas and standpoints of others that you have suppressed. It any such conflict exists then the smart decision making will get effected.

So be generous enough to conduct debates, by doing this you will get to know how many people are disagreeing and how many are showing an agreement, these free debates will let you reach a great execution of your decision.

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To Young Entrepreneurs

These are points that will lead and guide you throughout your entrepreneurial journey. 1. Select your desired niche You mist choose a niche of your choice, choose your desired field where you don’t have to force yourself to do anything. Your interest will work as a fuel so you will only be enthused to make … Continue reading “To Young Entrepreneurs”

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ASSUME NOTHING. EVER

 

Nothing in your life will hold you back or cause you more pain than the result of an incorrect assumption.

Regardless of the context or whether the assumption is made in your personal life or in a business environment, the problem for you and I is that we do this constantly.

The human mind has an amazing ability to lead itself to powerful conclusions, once you make an assumption, you convince yourself that this is now the gospel truth.

Making an assumption and then believing the assumption as truth is like making a decision without all the available information and you know how dangerous it can be to take actions based on an unconfirmed.

How often have you made the mistake of relying on an assumption in your business or personal life, that have ended up causing yourself and others so much pain and suffering?

You make assumptions for one of two reasons:

  1. You assume something about a person or situation because of a past truth. You’ve experienced something similar before, and therefore you attach an assumed outcome based on your past experience.
  2. Alternatively, you make an assumption about a person on a projected response that you would give to the situation.

Either way, you’re reaction to a lack of information by believing in an unconfirmed truth, and this can be incredibly destructive.

So how do you avoid making this mistake in the future?

  1. Ask more questions. When you don’t know something or are lacking enough information to clearly understand a situation assume nothing. Rathe as more questions. Don’t die wondering about anything. The pain of asking the question is far less than the pain of not knowing the answer.

Before you take any reaction in your personal life ask questions and engage in communication to satisfy any issue that remains unclear in your mind. Some of the best relationships you will have are those where communication, founded on trust, is open and direct.

2. Be a more Attentive Listener. People tell you so much more by their body language and actions, then the words that come out of their mouths. Being an attentive listener requires that you are present in the moment, listening with your eyes, ears and mind.

When listening attentively, you will be able to open up a conversation and drive it to a deeper level of understanding by not only mirroring what the other person is saying to you, but also by asking clarifying questions on anything you are unclear about.

You gain so much more from a conversation by listening than you do by talking.

By making fewer assumptions you will make better decisions in both your business and in your personal life.

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Don’t Be Arrogant

1. Honor other’s opinions and welcome other’s thoughts No matter at which peak of success you are one thing that you should always remember as an entrepreneur is that never close the doors for others when it comes to listening to others ideas and thoughts, you should always welcome the ideas of others or your … Continue reading “Don’t Be Arrogant”

To Young Entrepreneurs

These are points that will lead and guide you throughout your entrepreneurial journey. 1. Select your desired niche You mist choose a niche of your choice, choose your desired field where you don’t have to force yourself to do anything. Your interest will work as a fuel so you will only be enthused to make … Continue reading “To Young Entrepreneurs”

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To Young Entrepreneurs

These are points that will lead and guide you throughout your entrepreneurial journey.

1. Select your desired niche

You mist choose a niche of your choice, choose your desired field where you don’t have to force yourself to do anything. Your interest will work as a fuel so you will only be enthused to make wonders when you will do a business in your preferred or desired niche.

2. Mind up your mind to take the risks

The road to success is never easy and this you need to take as a motivation, this reality should motivate you and you have to enable yourself to the risks boldly, if you will succeed your confidence will boost up and in case you don’t then you will know that certain tricks or strategy is useless and will work for a new one, so in either ways you will be benefited in a long run.

3. Have faith in yourself

Your team members won’t have faith in you until you have faith in you, believe in yourself and stay very focused, it will be you who is going to get noticed first. Don’t let yourself lose a hope. Expect great things and great things will happen.

4. Be Patient

Its not that you will be successful over-night, one has to be very patient, you will come across some hardships so you have to be very patient. Be always available, passiveness can be very disastrous.

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5. Make a solid team

Select your team members whom you find determined and who you think have the spark. The people with whom you share good mental compatibility can make a goof solid team, this team work will help you in achieving your goals.

6. Narrow down your goals

You have to narrow down your goals, for this you can do paper work and mention the goals that are highly important for you. Select them according to their significance as it won’t let you strayed.

7. Create a plan for raising investment

You should make a plan as how you can raise an investment, in this plan pen down all the ball-park estimation and insights that you are going to use for raising a capital.

8. Always listen to your customer

There is no point of ignoring what your customer says about your product, always value they opinion and give honor to their complaints, assure them that their complaints will be considered in a best possible way.

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Don’t Be Arrogant

1. Honor other’s opinions and welcome other’s thoughts No matter at which peak of success you are one thing that you should always remember as an entrepreneur is that never close the doors for others when it comes to listening to others ideas and thoughts, you should always welcome the ideas of others or your … Continue reading “Don’t Be Arrogant”

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How To Deal With Failure

1. This is not the end of the world, try to get it down to your throat

First of all, make yourself understand that this failure doesn’t mean that this is going to be the end of the world, ups and down are the part of business, you have to get real. If you are expecting a permanent sunshine in the world of entrepreneurship then it means you live in a fool’s paradise. Try to get it down to your throat means don’t panic so much as you must move on.

2. Take a look at your strategies and think of replacing them with new

Give it a though to your strategies, ponder deeply that what is wrong with them and how you can replace the strategies, is there something with the strategies or there is something wrong with the implementation?

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3. If you are really an entrepreneur then have a big heart as this happens in business

That’s very true as it is said that if you can’t handle your failure then it means you aren’t an entrepreneur. So, have a big heart and get it straight that such huge surprises are the part of entrepreneurship, all you need to do is to fan your inner spark and buckle yourself for further dealings.

4. How much time you have given to your business

If you are just a newbie in your business and somehow you failed and you don’t know the reason as you were expecting a sixer then HELLO wake up! Business takes time, how much time you have given to your business? If it is just a little time then you give it more time as things take time in getting better.

5. Accept your failure and come up with the new theme + new idea

If after giving an adequate amount of time still things aren’t getting better then generously accept your failure. Change the entire theme and bring the new idea, no repetition of previous methods and approach. Take the feedback of your customers, ask their suggestions and see what do they have to say and then critically analyze the feedback all together, you may find something really valuable from both sides.

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Turning Your Plans Into Action In 2020

“Every accomplishment begins with a decision to try”

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Early this year I share a story post on my instagram and facebook talking about that feeling that we all have or maybe it just me, where you have these big plan for yourself at the beginning of the year and as the year comes to an end you come into a realisation that you haven’t achieve anything at allow you haven’t start with any of the plans, you said you would.

Have you ever set a goal for yourself then felt discouraged when you weren’t making any progress?

Yeah me too. And everybody else does at some point.

And you might have tried to beat this problem with willpower but bullying yourself into doing something that you don’t have a vision for or a purpose of guide to it doesn’t really work very well in the long run.

A plan without a strong, clear vision or plan will remain just a plan because it is not backed up with the amount of energy needed for one to achieve that goal.

Definition of a plan

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A detailed proposal for doing something or achieving something.

A dream without a goal is just a dream, and a goal without a written plan will remain just an unattainable goal. if you want to achieve your goals you must turn them into attainable and actionable plans that you can follow and work on.

The problem with most people is that they don’t write down their goals. Even if they did, that is all they will ever do, without backing them up with a plan or action.

“To dream anything you want to dream, that is the beauty of the human mind, To do anything you want to, that is the strength of the human will. To trust yourself to test your limits that is the courage to succeed”

bernard edmonds

So how can one turn those dreams into action?

Anything is possible with a plan! first you have to decide on what exactly are you dreaming of achieving, ultimately what are the goals you want to achieve and how are you going to get there.

What are the steps needed in order to achieve that goal, you need little steps that you are going to work on every single day, that will eventually lead you into attaining that goal.

It is crucial to be specific with what you want to achieve, therefore you have to write down your goals. for example if you say ‘I want to start a blog or a youtube channel’ that is just an idea floating around somewhere maybe in the air and it ain’t going work or another year will pass without you achieving this because you are not being specific enough.

Instead be more precise: have a time plan, a year plan of when you are going to start and in 2 or 3 years where would you like to be. your goals need to be very specific and something you can actually work towards.

I always wanted to have blog but I never really had a plan or an idea, even if I did start creating a blog along the way I would stop because I didn’t know what I wanted to achieve out of it, I would fail before I even start and that the case with many people.

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5 Steps To Turn Your

Plans Into Action

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  1. Write your plan down and every single detail that you think will help you achieve your goal. This will help you to work through your goal much more easily and to get it done at the pace that you have set up for yourself.
  2. Review your plan/goal. make sure that they are attainable and make sure that you have written down steps that you can be able to work around your time frame. If you have to change your daily routine, then you must.
  3. Keep your plans in mind. Always bare in mind that there is a dream that you want to fulfil every single morning when you are waking up and at night when you are about to sleep. Take a look at your goals so that you will know exactly what you expect from yourself when you are waking up.
  4. Start with smaller and easier steps. Just like a toddler learning to walk, those same steps they use until they eventually walk, use the same process in all that you do including achieving your goals. We all have to start somewhere its the universal language. Start small.
  5. Track your progress. Set up a reward system for yourself which will keep you motivated. Every time that surpass a step that is helping you get to where you want to go, give yourself a bells or a pat on the back that you have came so far without giving up or just that you have at least started with something.

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