How to start a side hustle while working full-time
In today’s fast-paced economy, having a side hustle is more than a luxury—it’s a must for many. MarketWatch reports that over half (54%) of Americans have started a side hustle in the last year. This is especially true for Gen Zers (71%) and millennials (68%), who are looking to make more money and secure their finances.
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Managing a full-time job and a side business needs careful planning, discipline, and smart work. The Side Hustle School podcast offers a 27-day plan to start a new income source while keeping your full-time job. It shares 48 side hustle ideas that could turn into profitable ventures.
Side hustles can be as varied as renting out baby gear through Babierge or selling custom iPhone cases on Society6. You can teach smart device use, create online courses, or even officiate weddings. The goal is to use your skills and interests to earn more. This way, professionals can meet the rising cost of living without losing their full-time job.
The Rise of Side Hustles
Side hustles are more popular than ever, as people look to make extra money and gain financial freedom. Almost 40% of the US workforce now freelances, earning about $100,000 a year on average. Younger people, especially those 16 to 24, are even more likely to have a side hustle, with over 50% reporting one.
Several factors contribute to the growth of side hustles. The cost of living keeps rising, pushing many to find extra income. Side hustles also offer flexibility and independence, appealing to those wanting a better work-life balance or to follow their passions.
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| Statistic | Value |
|---|---|
| Freelancers in the US earning on average | Nearly $100,000 per year |
| People engaged in freelance work in the US | Approximately 64 million, representing nearly 40% of the entire US workforce |
| Young adults aged 16 to 24 engaging in side hustles | 50%, which is double the rate of those over 55 |
| Entrepreneurs worldwide balancing their businesses with regular 9-to-5 jobs | 35% |
| Entrepreneurs who started their business as side hustles before transitioning to full-time | 18% |
The rise of side hustles is also driven by job instability and the need for diverse income. AI and automation are changing many industries, making job security a concern. The COVID-19 pandemic has also shown the value of having multiple income streams, as many have lost jobs or seen hours cut.
“The traditional 9-to-5 job structure may be extinct by 2034, replaced with people working multiple roles across different industries.”
– Reid Hoffman, LinkedIn co-founder
As side hustles become more common, it’s clear that economic, technological, and personal factors are at play. By embracing side hustles, more Americans are taking charge of their finances and pursuing their dreams.
Automating Tasks with AI
The gig economy is booming, and many are starting side hustles to earn extra. But, juggling a full-time job and a side business is tough. Luckily, AI tools are here to help. They automate tasks, make workflows smoother, and boost efficiency for everyone.
Tools like Zapier, QuickBooks, Grammarly, HubSpot, Trello, IFTTT, and Calendly are key for entrepreneurs. They save time and let you focus on growing your business. These AI tools for side hustles handle tasks like finance, communication, scheduling, and project management.
Recent stats show 53% of Gen Z, 50% of millennials, and 40% of Gen X have side gigs. 44% of side hustlers think they’ll always need them to survive. AI-powered automation has changed the game, making side hustles more efficient and effective.
| AI Tool | Use Case |
|---|---|
| Zapier | Automate workflows and integrate various online tools |
| QuickBooks | Streamline financial management and accounting |
| Grammarly | Improve writing quality and catch errors in content |
| HubSpot | Manage customer relationships and marketing campaigns |
| Trello | Organize projects, tasks, and team collaboration |
| IFTTT | Connect apps and automate various actions |
| Calendly | Streamline scheduling and booking appointments |
The AI revolution is changing many industries. Side hustlers need to keep up and adapt. By using these automation tools for small businesses, you can save time, work better, and grow your side hustle.
“AI tools have been a game-changer for my side hustle, allowing me to automate repetitive tasks and focus on growing my business.”
Managing Finances Effectively
Managing your finances well is key when you have a side hustle and a full-time job. Using accounting software like Xero, Wave, or Zoho Books helps a lot. It makes invoicing, tracking expenses, and financial reports easier. This way, you can make smart choices about your side hustle’s success.
Having a separate business bank account is also crucial. It keeps your personal and business money separate. This makes tax time easier and looks more professional. You also need a Tax Identification Number (TIN) or Employer Identification Number (EIN) for taxes and hiring employees.
| Side Hustle | Typical Hourly Rates |
|---|---|
| Tutoring Services | $25+ |
| Market Research Focus Groups | $50 – $200+ |
| Babysitting | $15 – $25 |
| Dog Walking | Around $20 for 30 minutes |
| Food Delivery Driving | $23+ per hour, plus tips |
| Freelance Proofreading | Around $20 per hour |
Side hustles can help you earn extra money. They can be very profitable, with no limit to how much you can make. When starting, think about how much time you have, what you’re good at, and what you want to achieve financially. From taking surveys to dog walking, side hustles can earn you hundreds or even thousands a month.
“Bookkeeping is the #1 most profitable side-hustle/business, according to Inc Magazine.”
Bookkeeping is a very profitable side hustle. The Digital Bookkeeper Association says only 3.2% can succeed in it. It’s a valuable skill that’s in demand. You can start it with little money, needing just a laptop and the right software.
How to Start a Side Hustle
Starting a side hustle while working full-time can be fulfilling. Identify your skills, passions, and market opportunities to grow your business.
Automating tasks with AI tools is effective; for instance, virtual assistants can handle admin duties, allowing you to focus on income generation. AI apps can also assist with bookkeeping, increasing profitability.
Select a side hustle that aligns with your interests and skills. Some great options include:
- Delivering groceries with Shipt, which can earn you up to $22 per hour
- Providing online tutoring services, with average pay of $16 per hour or more
- Offering transcription services, which can fetch $20 to $45 per hour depending on your speed and expertise
- Renting out a guest room on Airbnb, which could generate over $4,221 per month in the Nashville area
- Reselling thrifted items on platforms like Poshmark, Thredup, and others
- Conducting user testing for companies like UserTesting, Analysia, and TryMyUI, earning around $10 per test
- Providing pet-sitting services through platforms like Rover or Wag
- Selling handmade or custom products on Etsy, with a potential profit margin of 25% or more
When starting a side hustle, aim for profitability, not just revenue. Manage your finances well, automate tasks, and use smart strategies. This way, you can grow a successful side business while keeping your full-time job.
| Side Hustle Idea | Earning Potential |
|---|---|
| Shipt (Grocery Delivery) | Up to $22 per hour |
| Online Tutoring | $16 per hour or more |
| Transcription Services | $20 to $45 per hour |
| Airbnb (Guest Room Rental) | Over $4,221 per month |
| Reselling Thrifted Items | Profit margins vary |
| User Testing | Around $10 per test |
| Pet-sitting (Rover or Wag) | Fees set by the provider |
| Etsy (Handmade/Custom Products) | Profit margins of 25% or more |
This will help you achieve the best results.
Investing in Marketing
As your side hustle grows, it’s time to think about digital marketing. This can help you reach more people and grow your business. Good marketing can really change the game for your side business.
Search engine optimization (SEO) is a key tool. It helps your business show up higher in search results. This makes it easier for people to find you. Google Ads and SEMrush can help you find the right keywords and track your success.
- Use social media to connect with your audience. Sites like Instagram, LinkedIn, and Twitter are great for showing off your products and engaging with customers.
- Send out compelling emails to keep in touch with customers and attract new ones. Email marketing is great for sharing special offers or new products.
- Make your marketing materials stand out with tools like Canva. Good visuals can make your side hustle more memorable.
Digital marketing can help your side hustle reach more people and grow. Remember, regular and smart marketing can turn your side hustle into a big success.
| Digital Marketing Strategy | Benefits |
|---|---|
| Search Engine Optimization (SEO) | Improved online visibility, higher search engine rankings, increased website traffic |
| Social Media Marketing | Increased brand awareness, customer engagement, lead generation |
| Email Marketing | Personalized communication, customer retention, promotion of offers and new products |
| Content Creation | Establishment of thought leadership, improved SEO, enhanced customer trust |
“Investing in digital marketing is crucial for the growth and success of any side hustle. It allows you to reach a wider audience, build brand credibility, and drive tangible results for your business.”
Diversifying Offerings
Exploring side hustles can lead to a smart move: diversifying your offerings. This means adding new products, premium services, or content for your audience. It’s a way to draw in more customers and boost your income.
Tools like PayPal and Google Analytics help manage your online sales. They also help you understand what your customers like. This info guides your decisions to meet their needs better.
In 2022, nearly 40% of Americans worked on freelance projects or had side hustles. This is a 10% jump from the year before. It shows how key it is to expand your products or services and find new ways to earn.
Whether you’re a doctor or an entrepreneur, diversifying can open up new chances. You can use your skills and interests to build a side hustle. This not only brings in more money but also brings joy and growth.
The secret to successful diversification is knowing your customers and being ready to change. Keep looking for new ways to grow your side hustle. This way, you can ensure its success and financial health for the long run.
Scaling Operations
As your side hustle grows, it’s key to think about outsourcing or hiring part-time help. This can handle the extra work. Sites like Upwork, Fiverr, TaskRabbit, Guru, and Freelancer help find skilled pros for tasks like graphic design or virtual help. Outsourcing lets you focus on growth activities.
Scaling your side business means documenting your processes. This can take just 20-30 minutes but is vital. Focus on automating tasks that need manual effort to boost efficiency and cut down on mistakes.
Set clear goals and do market research to grow your business. A solid business plan can help a lot. Businesses ready for growth attract investors and partners, leading to more success and profit.
Building a skilled team and using technology can make your side hustle more efficient and save costs. Make sure your production meets market demand and use tools to manage customer relationships. This will help you grow and attract more customers.
“Operational scaling is a critical aspect of scaling a business in the UK. Investing in the right technology, hiring the right people, and tracking key performance indicators are essential for successful scaling.”
Scaling your side hustle needs a smart plan. Use the right tools, outsource tasks, and automate processes. This will set your side business up for long-term success.
Balancing Work and Side Hustle
Managing a side hustle while working full-time needs great time management and focus. A third of side hustlers are over 54, showing it’s a growing trend. With most people spending a third of their life working, balancing work and side projects is key.
Since 2020, the creator economy has grown fast. More people want to earn extra or follow their dreams. Employers are now more open to their staff’s side hustles, seeing the benefits of a diverse and motivated team.
To manage a side hustle well, experts suggest using separate calendars for work, side business, and personal life. This helps stay organized and avoid burnout. People like Shannon Mattern, Kirsten La Greca, and Danielle Flores share their tips for balancing work and side hustles.
- Shannon Mattern says plan ahead and schedule time for your side hustle.
- Kirsten La Greca suggests finding time-wasters and replace them with side hustle tasks.
- Danielle Flores emphasizes the need to think about long-term financial goals to balance work and side hustles.
By focusing on the most profitable side hustle tasks and avoiding distractions, you can succeed without neglecting your main job. Regular check-ins and adjustments help stay on track with your goals in both areas.
| Side Hustler | Time Commitment | Strategies |
|---|---|---|
| Shannon Mattern | 3 years | Plan ahead, schedule dedicated time |
| Kirsten La Greca | 20 hours per week | Identify and replace time-sinks |
| Danielle Flores | 10-20 hours per week | Focus on long-term financial goals |
“Balancing a side hustle and a main gig requires optimizing schedules to prevent burnout.”
Conclusion
Starting a side hustle while working full-time is tough, but it’s doable. The data shows how to succeed. By using AI, managing money well, and marketing, you can grow your side hustle.
It’s important to balance your main job and side hustle. Good time management and productivity are key. With the right approach, a side hustle can bring financial freedom and happiness.
More than 50% of people are now in side hustles. The tips from this article can help you start your own. By following these strategies, you can overcome challenges and build a successful side business.
FAQ
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