One of the many things we’ve learned from 2020 is the value of diversifying your revenue with a side hustle. Whether you’re hoping to make a profit from a passion or get a steady stream of extra money, a side hustle is a way to not only alleviate financial stress but also empower yourself.
We’re sharing side hustle ideas you can do from home, plus tips for growing and refining your side hustle in 2021.
What’s a good side hustle?
There is no “one size fits all” answer to this question. It’s important to ask yourself why you’re starting a side hustle and focus on what you want to get out of it. Is your focus on making money in the short term? Adding more skills to your resume? Whatever it is, understanding your motivations, passions, and skills will set you up for the best chances of success.
That said, there are certain side hustles that are thriving in recent years. According to a 2020 CNBC article that features insight from Upwork and Fiverr experts, here are three of the top side hustles you can do from home:
1. Blogging, Building Websites, and Social Media:
Opportunities range from optimizing content with SEO in mind to writing code for WordPress to strategizing posts for social media.
2. App Development and Product Testing:
If you’re a graphic designer, engineer, or developer, app development is a huge area of high-earning potential, according to Fiverr.
Do you love to cook? Help people with their fitness routines? Or share your passion for a certain language? These are all great ways to make extra money by teaching remote tutorials.
Other side hustles you may want to consider: working as a copywriter, virtual assistant, and researcher.
Side hustle vs. part-time job
The lines can get a bit blurry when it comes to working a “side hustle” and “part-time job.” But generally, a side hustle is in the realm of freelancing with you outlining your services, your prices, and your schedule. On the other hand, a part-time job is typically paid by the hour or project with an employer setting the price, the scope of work, and the schedule.
The perks of a side hustle: the work is often more independent and you generally have more control over your day-to-day.
The cons of a side hustle: it can be harder to generate stability and steady income. To give you an idea, a recent study from Ascent found that the average man earned about $8,948 per year from his side hustle, while the average woman earned about $6,085.
5 Tips for starting & growing a side hustle (or part-time job) from home in 2021
Getting momentum with your side hustle or part-time job doesn’t happen overnight. (At least, not usually!) Here are some tips to continue to grow your side hustle whether you’re just starting… or been at it for years.
1. Have an Online Presence For Your Side Hustle
You’ve probably heard the saying, “the website is the new resume.” We couldn’t agree more. If you want to make money from your side hustle, it’s imperative to establish an online presence with a website. This gives you legitimacy, a space to showcase your work, and an opportunity to share testimonials.
2. Strategically Showcase Your Work
Think: quality over quantity. Not everything you work on needs to be in your portfolio, especially if you have a lot of experience. Rather, it’s ideal to share the work that will attract the clients you want. However, when you’re starting out you’ll likely have less to work with. That’s ok! A work sample or two is a great way to showcase your work. Your portfolio and website are evolving entities. Don’t be afraid to experiment and adjust as you grow and get better.
Pro tip: if you don’t have work from clients you want to share – consider putting personal projects on your website instead.
3. Clarify Your Services & Prices
Transparency is huge. When you’re clear about what you do and what you charge, you’ll waste less time and energy going back and forth with clients. Again, this can (and will) be adjusted and tweaked as you grow.
4. Model Businesses You Admire
Look around! Get to know your “competition” and let it inspire you as you mold your side hustle.
In the same sense, figure out what you don’t like and what you don’t want to emulate. This can be equally valuable information.
5. Define Your Goals
Like with most things, when you have a good grasp on your goals and your “why” – it’s easier to stay motivated and excited. We recommend writing them down and revisiting them regularly.
Remember: time management is a skill
We couldn’t write this blog without mentioning the importance of time management. Your side hustle is going to be an investment of time and energy. But it’s crucial to be mindful of time management so it is sustainable… and not a complete energy or time suck. This will likely lead to burnout or it could take away from your main gig.
Productivity and time management tips & tricks for side projects
Time management is personal, as your ideal system will look different from the person next to you. But here are some general time management tips to keep in mind:
1. Prioritize & Organize
From traditional planners to online organizers, there are so many incredible tools to make organizing more accessible. For some color coded post-it notes do the trick, while others thrive with detailed Asana tasks. Embrace what works for you!
2. Schedule Breaks
Rest is so important. You will very likely burnout if you try to do everything at once. Be sure to schedule breaks and outings that have nothing to do with your work or side hustle. This time will recharge you and maybe even inspire your work to be even better.
3. Consider the 80 / 20 Rule
The 80 / 20 rule is essentially the idea that 20% of your efforts give you 80% of your results. In other words, figure out what action is giving you results – whether that’s posting on social media, sending emails, or blogging. By paying attention to what’s working, you’ll be able to manage your time more efficiently.
Above all, find the fun in your side hustles
Of course, it’s called a HUSTLE for a reason. It’s going to be work. But studies show when we enjoy a workout we’re more likely to stick with it. While your side hustle may or may not have anything to do with exercise – we think the statistic still applies. By finding joy in your side hustle, you’ll be able to motivate yourself through the highs and inevitable lows of any new project.