Many of us want to make more money. However, the thought of quitting a day job is absolutely frightening — especially in these economic times. If you want to make a little more money, but you don’t think you are quite ready to quit your day job, you might want to try a side hustle. A side hustle, or a part-time business, might be just the thing.
However, before you jump into the world of selling crafts you make in your spare time, or before you start freelance writing, you need to make a plan. Also, you need to realize that when you work from home there will be some things that you give up. You will have to cut back on personal time, since you will be essentially working a part time job (or even a full time job) in addition to your day job. If you are ready for that reality, here are 5 tips for making your side hustle work:
1. Be Consistent
The first thing you need to do is realize that consistency is key. You have to be consistent if you want your side hustle to work. This means that you have to be willing to keep at it — even when it’s not fun. Dedicate a certain amount of time to your side hustle each day. Whether you are creating something, building a web site, or marketing, make sure that you are consistent in working on building your side business.
2. Get Help
There is no reason that your family can’t get involved in your side hustle. Think of some tasks that your family can help you with. You can even pay your children wages in some cases, as long as you are above board and follow IRS guidelines. If you can get help with some areas of your business, do it — even if you might need to hire outside help for some of the tasks.
3. Consider Time Zones
One way that you can work more effectively is to consider your time zone. I live in the Mountain West. One of the great things about that is that the East Coast is two hours ahead of me. So, I can speak with people at 7:30 am my time, and it’s a convenient time for my clients — 9:30 am. It helps me get these appointments accomplished early, before I get on some other project, and it falls within the regular work day for others. You can use the same concept with your side hustle. Check time zones to see if you can do things that are outside your day job hours, but that are within reasonable times for your clients or customers.
4. Take a Break Sometimes
Even though you need to be consistent, it’s important that you not get burned out. Occasionally take a break to help you keep motivated and help you stay focused. Make sure you take some time to relax and unwind a little bit. Even if it’s just half an hour a day, you should unwind and refresh. Meditation helps to relax and can be done in little time.
5. Be Up Front About Your Side Hustle
If you have a side hustle that might conceivably affect your day job, you need to be upfront. If your side hustle has nothing to do with your day job, and you aren’t asked about it, you don’t have to be too forthcoming. However, if there might be a conflict of interest, you should be honest about what you are doing.
Miranda is freelance journalist. She specializes in topics related to money, especially personal finance, small business, and investing. You can read more of my writing at Planting Money Seeds.