Editor’s Note: This story originally appeared on FlexJobs.com.
You’ve heard about side hustles, and you think you might want one.
That’s a great idea! A side hustle can be a great way to make extra money, learn new skills, and network with people in your field.
But there’s no job category titled “side hustle.” So, what exactly is a side hustle? And how do you go about finding one that’s right for you? We’ve got some tips on researching and landing a side hustle.
What Is a Side Hustle?
A side hustle is an activity that allows you to work and earn money outside of your regular job. It can be freelance, flexible schedule, or gig-based work in various industries.
Unlike traditional employment, side hustles are often flexible and allow you to set your hours. This can make a side hustle perfect for people with busy schedules who want extra income on their terms.
Where side hustles vary from traditional employment is in the compensation. Side hustles do not typically come with benefits, like health insurance or retirement plans. Side hustlers are generally looking for extra income or work experience to boost their careers, rather than formal benefit packages.
Also, side hustles are generally not considered the same as part-time jobs, even if you work part-time hours. When you work in an official part-time role, your employer formally dictates your schedule.
On the contrary, side hustles are typically more individualized, with scheduling freedom being a massive incentive. This makes it easier to balance a side hustle with a full-time job and personal commitments.
How to Level Up Your Career With a Side Hustle
Many professionals seek side hustles to supplement retirement, pay bills, and boost their savings accounts. But finances aren’t the only reason you might desire a side hustle.
A side hustle can be a great way to level up your career. For starters, side hustles allow you to learn new skills that are valuable in the job market.
For example, you may pick up digital marketing or coding skills, which could help you when applying for jobs. If you’re looking for a career change, side hustles offer an excellent way to build a portfolio while maintaining the security of your full-time role.
Plus, having a side hustle can demonstrate to employers that you’re ambitious and driven. It shows them that you take initiative and are willing to go the extra mile for success. This can help you stand out among other applicants and give you an edge in landing a job opportunity.
Side Hustles From Home
The time has never been better to find a side hustle. With the growth in technology, you’re no longer limited to what you can find within your home city.
Finding a flexible side hustle you can pursue from your home office means no commuting costs eating into your time and income. Consider some of the following possibilities.
Freelance Work
Many side hustlers find success in the freelance world. Freelancing is a great way to earn extra income while still having flexibility and control over your schedule.
You can decide which projects you take on, how much you commit to, and when you work. Plus, there are many fields of freelance work — from writing and editing to web design to data entry.
Gig-Based Work
Gig work, such as driving for a rideshare service, dog walking, or grocery delivery services, can easily be scheduled around your existing obligations. Plus, these side hustles require no additional training or prior experience.
You might tap into your passions and begin tutoring online or locally. Or, you could dig out your camera to offer photography. The possibilities are endless.
Online Flexible Jobs
Many remote professionals are finding success with a flexible contract role. Consider offering your services as a bookkeeper, a social media manager, or a virtual assistant.
Flexible work options might require a minimum number of hours each week or month. But you have the freedom to choose when your hours are completed.
How to Find the Right Side Hustle for You
If a side hustle sounds like it might be the best move for you right now, there are a few considerations before launching your search. Like a traditional job search, finding the right side hustle for you should be a combination of planning and research.
Identify your goals, consider your skills and available time, and then use those to decide which side hustle is best for you.
1. Establish Your Side Hustle Goals
Before starting your search, decide what you want to achieve through a side hustle. Ask yourself the following questions:
- Is my goal only to earn extra income?
- If so, do I have a target amount?
- How long do I want to be side-hustling?
- Am I investing in skills that will help my career?
- Do I know exactly what skills I’m hoping to build?
- Do I need other skills to launch and grow my side hustle?
Defining your goals can help determine the type of side hustle that best fits you.
2. Evaluate Your Strengths and Available Time
Make a list of skills you already have that will help you land a side hustle. And consider the hours of side hustle work you can commit to around your current job or other obligations.
That will help you narrow down side hustles that may be a good fit for you.
3. Research Different Types of Side Hustles in Your Field
Once you have some side hustles in mind, check out the competition. What services do competitors offer? And what kind of rates are they charging?
Researching side hustles like yours will give you a better idea of where to start and what’s possible.
4. Create a Plan to Find the Perfect Side Hustle for You
With your side hustle goals and available resources in mind, create a plan to find the perfect side hustle.
Ensure you’re using SMART goals to establish actionable items, rather than wasting time surfing through endless job and gig postings.
For example, you might aim to research and pitch five freelance bookkeeping roles each week. That’s a much more robust plan than a vague goal of “apply to bookkeeping roles.”
Side Hustles That Pay Well
The side hustle you choose will depend on your skills, available time, and goals. But side hustles that generally provide the best potential returns require a specialized skill set.
Here are a few examples of side gigs that often pay well compared to other side hustles.
Freelance Writing
As with most freelance roles, there are many variables in how much a freelance writer makes. Industry, experience, and skill level all factor into your earning potential.
Freelance writers may charge per hour or per assignment. And more in-demand roles, such as technical, medical, or legal writing, pay significantly more than other industries.
If you have the drive to build a portfolio and pitch your work, there’s great potential to make this a lucrative side gig.
Graphic Design
Are you a Photoshop whiz? Or, do you have a knack for creating impactful visuals? Graphic design side hustles are great for professionals with an eye for design.
Rates vary dramatically depending on the project and skill level, but the average rate is about $45 per hour.
Social Media Management
Every business needs a social media presence to compete in today’s online world. But not every company needs a full-time social media manager.
With scheduling tools, it’s easy to fulfill your commitments on your schedule. If you niche down your services to paid advertising or specific platforms, you can potentially demand an even higher rate.
The average pay for a social media manager is reported to be over $25 an hour.
Video Editing
Video editing side hustles are great for content creators and multimedia professionals.
You can make an impressive side income if you’re skilled in editing video footage, audio production, color correction, or sound design.
Rates depend on the project’s complexity but average around $50 an hour.
Web Design
Web design side hustles can be particularly lucrative, and they’re an excellent way to grow your portfolio if you’re seeking a career change.
The Bureau of Labor Statistics (BLS) reports that a web developer’s pay can range dramatically, between $18 and $60 an hour. Your salary will typically be determined by the amount of time and experience you have, as well as the quality of work you provide.
Starting Your Side Hustle
By researching side hustles, evaluating your skills, and creating an action plan, you can determine if side hustling is right for you and find the side hustle that’s perfect for your goals.
With a little hard work and dedication, side hustling could be an excellent way to boost your income, expand your skill set, and gain experience in a new field.
And whatever side hustle you choose, the key to success is dedication. This means managing your side hustle with the care you would give to a full-time job or business.
Set up separate accounts for side hustle income and expenses, treat side hustling time like regular working hours, and stay organized to help you make the most of side hustling.