Working from home has created the perfect opportunity to earn extra cash from a side hustle. Depending on your skill, there are different side hustle business ideas to start now.
You need a good side hustle if you want financial freedom. While your day job may pay for the essentials, a side hustle from home is a game-changer.
What Is A Side Hustle?
That thing that brings in extra cash is a side hustle. It is a business or a job that brings in extra money beyond your regular business or work.
Why You Need A Side Hustle
How about getting extra cash to spend anyhow you wish? How about having more money to take yourself to a fancy restaurant or on vacation? The good news about a side hustle is that almost anyone can earn extra money doing something.
I don’t know about you, but lately, everyone around me has been looking into getting a side hustle. This is because you can no longer depend on only one income stream again. Especially if that ‘one’ income stream happens to be ‘a salary’.
Many people have given up on earning more at their jobs. They are now focused on cultivating a side hustle instead.
Often called side hustles, these side jobs can include any activity that helps you earn extra money on top of what you already bring. But how do you get started?
It would be best if you did something fast. Do you need something outside your day job to cater to your needs or pay some of your bills? Are you ready to break out of the norm? Do you need a side hustle?
Here are the best side hustle business ideas that will make more money for you.
Before we start, let’s discuss how to start a side hustle. How do you start a side hustle?
How To Start A Side Hustle
You have decided to start a side hustle, but you don’t know the side hustle business idea to start or how to start a side hustle. We got you. We are going to go through how to start a side hustle before we discuss the different side hustle business ideas you can start.
List Ideas That You Are Passionate About
For your side hustle to be successful, it has to be something you are passionate about. If you have a day job, your side hustle will be done outside your work hours. Therefore it has to be something that comes naturally to you. Here is a list of online side hustle business ideas you can start.
Set Resources Aside For Your Side Hustle
Even though some side hustle does not require much capital investment, you must have a clear picture of the investment required. For instance, you may need to build a website, create awareness, brand your side hustle, etc. All these cost money; therefore, plan your expenses and measure the growth of your side hustle. This will help you decide if you are breaking even and if you should continue.
Check Your Job Contract
If you have a day job, ensure no conflict of interest. It will be best to try something outside your regular job instead of doing something that bridges your agreement with your work. Remember, we are humans first. Do not do to others what you don’t want them to do to you.
Make Time In Your Schedule For Your Side Hustle
We advise moonlighting your side hustle. If you want to succeed in your side hustle, you have to set a goal and divide your goal into smaller achievable parts that will make up the whole. In addition, you should set timelines for achieving your side hustle. Only by committing to the time will your side hustle come to life.
I advise you to give two evenings out of five working days to your side hustle. That way, you don’t break down. You can also dedicate the weekends to your side hustle, which means you have to cut off many extra-curriculum activities.
Give Your Day Job 100% Attention
Do not try to do your side hustle during the time for your day job. It is a recipe for disaster. Remember that even though a side hustle may give you some money, you are dependent on your day job for your bills.
Have A Revenue Generating Plan
Develop a business model for your side hustle with revenue-generating aspect. You must have a plan on how to make money from your side hustle. Remember, your side hustle is not a hobby but a way to earn extra cash for yourself. Therefore, have a plan to make money from your side hustle from day one.
Questions To Ask Before Choosing A Side Hustle Business Idea
- What am I passionate about?
- Does the idea fit my current plan?
- Can I make money from this side hustle?
- Are there people currently making money from this idea?
- Is my side hustle scalable?
How To Find The Right Side Hustle Business Idea
- Read business content from platforms like Entrepreneurs.ng or visit Entrepreneurs Channel
- Pay attention to your environment for a problem that needs a solution
- Choose a side hustle based on your interest and passion
- Conduct market research to know the viability of the side hustle
- Develop a business model for the side hustle
- Decide if you want to do the side hustle full-time or part-time
- Set aside funds for your side hustle
- Start your side hustle
What Are The Most Profitable Side Hustle Business Ideas That Make Money?
- Affiliate marketing
- Starting a blog
- Selling photos
- Starting a YouTube channel
- Wholesale business
- Virtual assistance
- Ride-hailing business
- Write in-demand e-book
- Become an influencer
- Selling digital products
- Managing social media accounts
- Start a podcast
Advantages of Starting a Side Hustle Business
1. Earn Extra Cash
Earning extra cash does not hurt anyone, trust me. And it pays to have some degree of financial freedom to take care of your needs and others around you.
The ability to achieve the above is what a side hustle business can do for you. And if your earnings are correctly managed, you are most likely on your way to a life of wealth.
2. Ability to Grow and Learn New Skills
Starting a side hustle opens new vistas of opportunities to you to learn new skills out there. As you well know, learning is a life-long activity. And it is to your advantage to embrace the new opportunities and challenges that your new side hustle will bring your way.
Remember that growth is an integral part of life and that learning is living. So go out there and live your life to the fullest as you get along with your side hustle.
3. Possibility of True Self-employment
Over time, many side hustle businesses have provided opportunities for their owners to transition into full-time self-employment. Some people are favourably inclined to be self-employed, and if you are in that category of individuals, you are already on the right track.
Being self-employed has its challenges, no doubt, but the possibility of having a little more freedom with your time is indeed a rewarding experience.
4. Become Happier
You could be healthier emotionally if your financial stress is taken care of. So, starting a side hustle business can make you a happier and more friendly human. Yes, it can!
How To Choose The Best Side Hustle Business Idea
What factors should you consider when choosing a side hustle business? Earning potential, your passion for it, or your time availability?
All the above factors have their roles to play in your decision probably. First, however, you must put them into proper context in relation to your present reality and your goals for the future.
Choose passion over anything else. Passion affects your performance in everything you do. Because you want to start a side-hustle business, quality performance should be no less a priority to you than the business’s earning potential. Passion for what you do will lead you to success land, so stay with passion.
A side hustle business, as the name suggests, is simply a secondary productive means of livelihood, right? So, don’t neglect your full-time job. Choose a side hustle business that strikes the right balance with your main job.
Your side hustle business must not conflict with your main job, as this may harm your primary source of livelihood.
How To Strike The Right Balance Between Your Job And Side Hustle Business.
- Engage in your side hustle business after your official work hours on your main job.
- Automate your side hustle business processes if it is a business that, for instance, requires little or less human involvement like online sales businesses.
- You can also put someone in charge for the period you will be on your main job for businesses that require human presence at all times
- Another important factor to consider is your skill competence. Do you possess the skills to make money doing the side-hustle you intend to choose? If yes, go ahead in your line of business. It is very important to stay within your area of strength.
- Finally, you need to consider the earning potential of your new side hustle business. If your side hustle does not have a good income-generating potential, it will be wise to consider something else.
Side Hustle Business Ideas
Below are side hustle business ideas to start now.
Home-Based Freelance Business
You can stay at home and offer services to people in website design, proofreading of materials, and editing and get paid handsomely for it. You can do this easily without it interfering with your normal work routine. Or choose to do it only on weekends when free (You can work from a co-working space). Better still, you can do this with your spouse as this is one of the business ideas for couples who want to make more money at home.
Event Planning Business.
Nigeria is the land of a thousand parties, so if you are the outgoing type, and live in the urban area, then the event planning business is for you.
The event planning market is such a huge deal in Nigeria, and you can rest assured that you will not run out of jobs as long as you offer excellent service.
How do you start your event planning side hustle business idea? Start with planning events for family and friends.
Start A Dropshipping Business.
Dropshipping business is one of the easiest and most popular side business hustles to start. This type of business involves getting items from a supplier to a customer without having physical contact with the item.
We covered in detail how to start a dropshipping business here. Go through the content to know how to start a dropshipping business.
Write And Sell an E-book.
Do you have the knowledge that people want? Then, create an e-book on the subject and sell it digitally.
E-book publishing is a legit and lucrative side hustle business if the knowledge is what people are looking for.
The most crucial thing in this side hustle business idea is your knowledge. After you have put the knowledge down, there are free tools you can use to bring your expertise to life. For instance, you can use free tools like Canva to design your e-book.
Real Estate Consultant.
Housing is a major challenge in the world today. To help solve this challenge, you can act as a link between property owners and buyers or tenants.
You earn up to 10% off the price of renting or buying a property. Wow! This fantastic side hustle business idea can give you a lump sum of money regularly if you play your cards well.
The ride-hailing business is more than a side hustle because, when you engage in it diligently, you can conveniently make enough money to purchase another vehicle between 6 months and a year.
Many people are subscribing to the ride-hailing side hustle business due to the massive earning potential it has, and I think you should consider it too. All you need is a vehicle in good condition with complete registration documents.
Create And Sell Online Courses.
Are you a teacher or someone with a genuine interest in knowledge sharing? Why not create online courses and share your knowledge with the world?
You must remember that there will always be people who want to learn from your knowledge and experiences and are willing to pay for it. So, get down to business and start creating those life-changing online courses.
Become An Affiliate Marketer
When you advertise someone else’s products or services on your platform and get a sale commission from your referral (often through a link or code), you are engaging in affiliate marketing.
If perhaps you are an influencer or already have an online platform with a significant number of followers, you may need to consider this side hustle business idea.
Graphics Designing/Photo Editing
Visual branding is vital to business visibility and growth. And in this era of online migration of business activities, there is a massive surge in demand for branding services by businesses.
Branding is part of the service we offer at ReDahlia. So if you are a good designer, get ready to smile to the bank because “your time has come”.
Become A Social Media Manager
Social media managers are in high demand presently by businesses struggling with online visibility. As a social media manager, your responsibility is to help businesses develop and manage their online brand.
This is one of the best side hustle business ideas if you have top-notch skills in digital marketing. This is so because this side hustle can be automated to a high degree with various online tools available like Hootsuite, which gives you the privilege to utilize your time for other productive activities.
Offer Project Writing Service
For some people, when ideas flow, they write them down on paper and will be willing to pay for someone to type them for them. I know a guy who has the draft of his book handwritten.
If you are good with typing, offer to help people type their final year project, thesis, or books for a fee. You can do this work unhindered if you have a laptop. In addition, getting a job done excellently would bring referrals your way. This way, you can keep making an honest income outside your regular work.
Many people are getting busier by the day, so they cannot go to the market or fill the gas. Thankfully, these are the kind of jobs you can do at weekends. So, offer to help your neighbours fill their gas, take their pet to the vet etc. This brings in good cash for you.
Offer Babysitting Services
Many parents are turning to the internet to find trustworthy people to take care of their children when they have engagements to attend on weekends. The busy lives of parents make this a viable opportunity to tap into. So why not offer to do this and charge fairly for it?
With so many ways to earn extra money, there is almost no excuse not to try. So figure out what jobs you would be comfortable doing as a side hustle and formulate a plan to attract new clients and market yourself.
We can always benefit from a little extra pocket change. And you never know, with the right attitude, you might even be able to turn your side hustle into a full-time gig.
You need a side hustle if you want to stay financially afloat in these trying times. But, on the other hand, it can be your true passion, a chance to delve into fashion, travel or whatever you care about the most without quitting your day job.
Are you considering starting a side hustle? Which of these side hustle business ideas will you be considering? We will like to hear from you in the comments.