Countless individuals are generating significant income from side hustles right from their homes or via their smartphones.
Initiating a profitable side venture is accessible with the right starting point. This is the insight shared by Kathy Kristof, who has evaluated over 500 side jobs through her blog, and Cody Berman, co-founder of an online class, Gold City Ventures, that instructs on initiating online ventures.
These experts outline three clear steps for anyone to kickstart a side hustle and gauge its potential success:
Step 1: Identify What You Have That Can Be Monetized
The inception of any side hustle revolves around determining how to convert your “interests, skills, and resources” into revenue, as Kristof emphasizes. To flourish, a side hustle should fulfill at least one of these criteria.
For instance, if you have a passion for guinea pigs, you could invent and market a novel pet cage. Academic achievers could supplement their income through tutoring.
Others capitalize on their real estate, swimming pools, or yards by listing them on services like Sniffspot, Swimply, or Neighbor.
After pinpointing what you wish to monetize, assess the expected time investment. Roles like Uber driving or delivery services tie directly to the hours worked.
Ventures akin to Airbnb are more hands-off but necessitate assets, such as an unoccupied property, along with ongoing time and financial investment for maintenance.
