What The Top Side Hustles Have in Common

If you’ve been following along with our last few blogs, we’ve discussed a thing or two about side hustles. Having another job to bring in additional income can be incredible, as long as you choose a gig that has elements that will be critical to your success. Below are three things that we believe the best side hustles will have!

1. Schedule Flexibility

Golden rule #1: Don’t let your side hustle interfere with your day job. In fact, some companies have policies in place that prevent you from taking on an extra gig. It’s important to know whether you can start a side hustle, and from there choose a gig that has flexibility. Try not to overdo it, too! You may be tempted to take on extra work in all the excitement of setting things up, but find out that it’s too much to handle in the long run. Set aside some spare time to get started, and then you can ramp up once you have a handle on the business.

2. Low Cost of Entry

When choosing a side hustle, it’s important to consider how much it’s going to cost to get it off the ground. Some part-time side hustles, such as those that are app-based, can be done right away, while others, like selling goods online, may need more time and money up front. If the project is ambitious, ease your way into it. Don’t dig yourself into a money hole before you even get started - yikes!

3. A Means to a Professional or Personal Goal

The best side hustles don’t only help you make more money; they also help you achieve your goals.

Paying down student loans or learning new skills to help you land a better full-time job are both great reasons to get a side gig. However, side hustles can also lead to endless work and burnout if you don’t set boundaries. That’s why we recommend you establish a side hustle exit plan: a clear end point or at least a pausing point where you can re-evaluate why you started your gig and see if you need to change course — or maybe even scale it up to full time.