While starting a side hustle enables you to pursue interests and hobbies outside your 9-5, ultimately, they’re used as a way to monetise these interests and earn an extra income.
Many hope for their side hustles to become fully-fledged businesses, but how do you make this financially viable? How can you make the most money from your side hustle?
Here, we’ve collected top tips on how to make the most money with your side hustle. With comments from the following professionals… Clare McKeeve – CEO at Talenthouse
Michael Zalle – Founder and CEO of YellowBird
David Ciccarelli – Founder and CEO of Voices.com
Meera Watts – Founder of Siddhi Yoga
Lyle Solomon – Principal Attorney at Oak View Law Group
Michal Jonca – Community Manager at PhotoAiD
For any questions, comments or features, please contact us directly .
Clare McKeeve
Company: Talenthouse
Website: https://business.talenthouse.com/
“Over the last couple of years, we’ve seen a shift in people’s priorities as they spent more time at home, investing time and money into their passion projects and side hustles. While side-hustles usually provide a top up income or a cost neutral hobby, for many the ultimate goal is to turn a side-hustle into a fully-fledged business. It’s therefore vital that entrepreneurs carefully consider the platforms they choose to set up, run and make money from their venture.”
‘While side-hustles are a side-income, it’s important that entrepreneurs choose to work with a platform that supports their financial needs. Creatives for example are poorly served by traditional financial institutions and so those running a creative side-hustle should seek a platform that gives them the tools to manage their billing and accounting efficiently. This will give them both the freedom to focus on creativity and the opportunity to scale the side-hustle if desired.”
“At the same time, it’s important to work with a platform that offers well-paid and interesting jobs. Often the biggest corporations offer the highest financial rewards, while other fast-growing businesses are renowned for their innovative and forward-thinking approach. It’s important that entrepreneurs check the platform’s client roster to ensure the opportunities that come their way will not only pay them well but help them learn and grow.”
“Finally, entrepreneurs should work with a platform that supports their wider community and business needs. Some platforms allow entrepreneurs to build their own profile and connect with like-minded people. This can be hugely valuable, both for those that are finding their feet in an industry and those that are setting themselves and their side-hustle up for the future.” Michael Zalle
Company: YellowBird
Website: https://www.goyellowbird.com/
“To make the most money with a side hustle, individuals will want to tap into their most valuable professional skillset, no matter whether that is safety assessments, graphic design, computer modelling, or accounting. The gig economy is no longer just for delivery drivers and dog walkers. As the Great Resignation drags on, employers have begun turning to freelance and contract workers for highly skilled professional work and they’re willing to offer higher pay, flexibility, and even insurance in some cases.”“Many professionals will market their side hustles on social media platforms or job boards to find project work. But that wastes time and money in creating posts, searching for listings, and responding to job offers. Plus, there is always the question of when and how they will get paid.”“To carve your own career path, find the best paying jobs, and learn new skills, professionals are encouraged to look for specialty gig economy platforms that market to specific industries. The best professional services gig platforms use artificial intelligence to match individual’s skills and certifications with specific projects in minutes, then automatically contact the individual to see if they are open to work. One example is YellowBird, which matches Risk Management and Environmental, Health, and Safety professionals with companies in high-risk sectors like construction, manufacturing, mining, and insurance sectors. YellowBird’s EHS professionals make an average of $65 USD/hour and can accept or pass on any project without impacting their ability to gain future work. Unlike other work platforms, YellowBird takes the extra step of providing liability insurance, pays workers directly, and doesn’t charge them a fee.”“These days there are many choices, even LinkedIn announced they will be getting into the marketplace. But not all platforms are the same, so I recommend individuals try out multiple platforms that offer a wide scope of specialised project work, high paying jobs, remote opportunities, and insurance.” More from Guides Should You Keep Your Side Hustle a Secret? Top Craft Businesses Which Began as […]
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