An unfortunate truth of today’s economy is that prices are rising — food, rent, utilities, entertainment, you name it — for everything except income. It leads to a soul-sucking cycle of being able to afford progressively less, to the point that even having a job isn’t enough to keep up with expenses. This combination of rather unfortunate circumstances has led to the emergence of the much-revered “side-hustle,” the siren song of using your passion and skillset to generate some passive income.
What Is a Side Hustle?
As you might be able to tell from the name, it’s something you do to earn money on the side while you do your main job. A side hustle lets you have the freedom to decide what work you want to do, how much work you want to do, and when you want to work. Some compare it to a part-time job, but a side hustle offers much more freedom.
How To Find My Skillset?
If you’re thinking of starting up a side hustle, the first thing you might ask is “What should I do?”
The answer is “Do what you’re good at.”
To that, you might ask “What am I good at?”
Well, that’s something you’ll have to figure out yourself. Do you have any particularly interesting hobbies? Maybe you like woodworking — there’s always a market for artisan handicrafts on sites like Etsy. Maybe you enjoy cooking or baking — if you take the proper precautions for selling food, people always enjoy home-cooked meals and treats.
If you can’t find the answer in your hobbies, then maybe you’ll find the answer in your interests. Are you a fan of pets? Maybe you can start pet-sitting or dog-walking services for your local area. Do you find yourself shopping often? You can start offering personal shopper or mystery shopper services.
If all else fails, you can always ask the people around you for what they think your skillset is. Just be prepared for any mortifying answers.
Next Steps To Monetize Your Skillset
Depending on what path you want to take with your side hustle, you have quite a few options for the first steps to monetize your skillset and get on the path to passive income. Here are some ideas:
● Start a blog, a podcast, or a streaming channel — Informative, high-quality content always has an appeal, and eventually you’ll be able to bring in sponsorships or ad placements when your following grows.
● Take clients as a freelancer — Certain skill sets lend themselves well to being a freelancer, such as graphic design, content writing, digital marketing, web design, photography, video editing, and so on.
● Do online coaching or tutoring — For those with a love of teaching or a wealth of insight into a particular topic, you can earn passive income through conducting one-on-one sessions, creating an online course (on websites like SkillShare), or writing an e-Book.
● Sell physical products — This applies if your skillset results in a physical product, such as food, clothing, or other handicrafts.
How To Brand Myself?
The most important thing to keep in mind when coming up with branding is your target audience because they’re the ones that you want to buy your product. Try researching their needs, wants, and preferences. There are many convenient places for gathering market research on the internet today, both free and paid, and that insight is invaluable for guiding your branding decisions.
Which Social Channel To Pick?
Again, this depends on your audience. If you’re marketing to older adults, then you won’t find much success with using TikTok, which is known for its huge Gen Z userbase. Take time to figure out where your target audience spends their time, and focus your efforts there.
Regardless of social channel, branding strategy, or first step you take, always keep in mind that quality, integrity, and passion should be at the forefront of your side hustle — the passive income will follow.