It’s all about the hustle!
No, that’s not the opening line from the – let’s face it – truly awful 50 Cent movie “Get Rich or Die Trying.” No offense, Fifty, but it’s the truth.
Instead, it’s a sound bit of business advice that could help you generate a nice second income or turn your passion into a full-time career. And wouldn’t that be more fun than grinding out another year or two of the 9-5?
The kind of hustle we’re referring to is the side hustle, another income stream to supplement your monthly salary or satisfy your creative aspirations.
Almost half of US workers are side-hustling now, earning (on average) an extra $1,000 a month. Nice.
Side hustles come in all shapes and sizes, but here’s a quick rundown of the most common part-time gigs:
- Food delivery
- Freelance design work
- Drop shipping
- Pet or house sitting
- Selling homemade clothes or jewelry
All you need to start a side hustle is a skill, a strong work ethic, or a little bit of free time.
Then check out this following guide from small business lending provider OnDeck. It outlines everything you need to know about becoming a successful side hustler, including the 11 most common mistakes to avoid.
The guide includes help and advice on calculating your initial investment costs and pricing tips to ensure you’re always covering your margins.
There’s useful information on managing a side hustle alongside a full-time job, including any special clauses or conflicts of interest caveats written into your employment contract.
OnDeck also outlines the best way to deal with all that complicated and boring business stuff, like bookkeeping and tax returns. They put that in there just for you creative types!
And, most importantly, there’s a section on maintaining a healthy work/life/side hustle balance.