How to monetize your side hustles
If you work a corporate job from 9-6pm and have ever wondered if there is more to life than being a small cog in the big machine of capitalism, fret not- you are not alone. Many people have come to embrace the ‘side-hustle’ – another form of work taken on top of your full-time employment.
These side-hustles are usually formed out of a passion or hobby and are creative outlets you can work on in your spare time, while having the potential to generate some spare cash. Find out how you can expand your hobbies and break-free from mind-numbing work by monetizing your side-gigs through the following ways:
Create a professional website
The very first step to legitimising your side-hustle is by creating a website for your new-found mode of self-employment. This will add credibility to your skills and business, whether if is freelance copy-editing, flower arrangement or even delivery services.
You can make use of free website-building platforms such as WordPress or WIX if you are not ready to invest actual money into your side-gig yet. Through these platforms, you have a high level of freedom and autonomy to decide the style and theme of the website, including what kinds of pages and widgets your audience would like to see.
It is a fast and flexible way to legitimize your new business, even if you just create a simple landing page for potential customers to get to know more about your business. It will also make it easier for customers to contact you for enquiries or new projects.
Market your side-hustle on social media
Taking your branding and marketing efforts a step further, it is highly recommended that you make use of social media platforms to establish your side-business and generate more touchpoints for publicity and outreach to potential clients. Facebook, Twitter and Instagram are platforms where you can make a free profile/page for your business.
By making your content and services more accessible, potential clients will have greater trust in using your services or buying your products. This platforms are also useful for existing customers to provide their reviews.
Make sure to regularly update these social media pages so that audiences know your business is still active. You can also explore social media trackers and analytics that help you target audiences better.
Reach out to current network
You may find it easier to get your side-business off the ground if you have supportive networks from family, school, or even your current employment (if they allow employees to pursue external gigs). Reach out to them and let them know you are starting a casual business offering services or products they might be interested in.
Perhaps, you could consider selling your products at a discounted price for close relatives, just to generate marketing content (photos, product write-ups and customer reviews) for your website and social media while starting up your business.
Activating existing contacts could also help you understand more about monetising a side-hustle, such as how to carry out operations or expand the business, or put you in touch with other industry contacts they might know from elsewhere.
Fuel your passion and inspiration
If your side-hustle is based on something that you are passionate about, after some time you might start feeling burnt out when it transitions into a form of work. This could be made more apparent if you are aiming to convert your side-hustle into a full-time job one day.
To prevent yourself from landing in a rut, continually keep a lookout for workshops or community talks that allow you to connect with entrepreneurs and hustlers in the same position as you.
Workshops can help you hone your skills and be exposed to different ideas and visions, while talks and networking events will help you find others with common interests and struggles. From these, you will be able to form support groups to rely on during your hustling journey, and thus re-fueling your efforts back into making your side-business more effective and profitable.
Never stop hustling!
Though you might be stressed at times, remember that this is not your day-job and should not be what is sustaining you for day-to-day expenses. Side-hustles are a way to supplement your current income, expand your skills and hobbies while giving you psychological and emotional freedom from your full-time employment.
You might be one of the lucky few who get to start their business from a side-hustle, but in the meantime, be open-minded while continually looking for novel opportunities and enjoy the journey.
Read also: 4 tips to land your dream job