On Starting a Side Hustle
1 min read

On Starting a Side Hustle

Lessons from Side Hustle.
On Starting a Side Hustle
Photo by Garrhet Sampson / Unsplash

The basics of a side hustle

If you're woking a 9 to 5 job, you should consider starting a side hustle in a short period, to create a revenue stream outside your day job. Regardless of how much your pay is, it's always practical to diversify your income stream.

A side hustle begins with an idea. To assess if you have a feasible idea or not, consider the following:

  1. A side hustle is a project which earns money, not a hobby. If your idea doesn't give you a clear way to get paid, abandon it.
  2. If your idea requires more than three years to get started, it might not be an optimal side hustle gig.
  3. If you feel excited about your idea and can envision your next steps, you have a potentially feasible idea.

What is a high potential idea?

However, not every business idea is worth your time. If you can separate high-potential ideas from less desirable ideas, you will save a lot of time and you can focus on a profitable hustle instead.

Undesirable ideas look like this:

  1. Difficult to describe or translate into actions
  2. Unsure how to bring the vision to life
  3. Vague, non-specific
  4. High cost and require a long time to produce

On the other hand, high-potential ideas have these features:

  1. Can envision the conversion of your idea into reality and can be described in detail
  2. Something that you can learn to do
  3. Solves a problem or need gap which improves lives and get paid for it
  4. Cost remains within profitable margins
  5. Can be (re)produced on a recurring basis

When exploring a side hustle, zero in on an idea with good potential and just get started!