How to Start a Side Hustle in 2021

Tuesday, February 23, 2021

If we have learnt one thing during the global pandemic, relying on one income alone inevitably can be disastrous. No one knows what is around the corner, and diversifying your income means that should you hit a snag with one income stream, you will have others to back you up until you get back on your feet.

The traditional 9-5 work one job until you retire, let's face it, outdated and unsuitable for the diverse world we live in now. That's not to say it doesn't work for some, but with new ways of working, job roles, and opportunities than ever before, your income should be as diverse as your world around us.

How can you diversify your income?
We don't mean you should give your daily grind, that is unless you can afford to. It would be best if you created some side hustles that can be relied on to bring in the money regularly. But before you jump into the world of side hustles and boosting your income, there are a few ways you need to prepare yourself for what is to come.

Calm and Order
Before starting anything, you need to sit down and have a strict conversation with yourself about your finances, your lifestyle, and the amount of time you can commit to dedicating to creating new forms of income in your life. Be realistic about what you can manage with the time and commitments before adding to your load.

What Excites You?
Think about what you love to do and what you can do to make this into an income stream. Look at the resources and connections you already have that you will need to make your side hustle a success. Use what you already have started before investing in growing what you do.

For example, if you are a great cook and people are always asking you for tips and lessons, build on that to offer in-person or zoom classes in a group or one on one setting for a fee. Or maybe you want to start by selling preloved items or upcycled creations you have designed. If so, look at the best delivery options for your needs, from small parcel deliveries to Truck Loads should your new venture take off.

Start Small.
One way of guaranteeing failure with your side hustle is doing too much too soon. Start small, take on only what you can manage and afford to do. As you become more adept at it, look at naturally growing it to increase your income or add another side hustle that ties into what you do. Let's take blogging, for example. Writing a blog can turn into a side hustle that involves you copywriting for other people, marketing for brands or other bloggers, or even a foot in the door for more creative pursuits such as creating a recipe book, writing fiction, etc., becoming a skilled photographer.

Keep Your Options Open
Never saying to any new side hustles can help you become more financially stable and lead to you pursuing other avenues instead of your run-of-the-mill job. In many cases, successful side hustles can evolve over and into full-time careers providing an income that far exceeds initial projections. But remember, take it slow, don't run before you can walk.

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