So you've decided you have a bit of spare time that you can set aside to building a little side project. What to build and where to start? Here we break down some of the considerations and rules to follow when looking at side-hustle ideas.
Brand building side-hustles vs part-time jobs
Let's cut to the chase – a side-hustle is unlikely to make you a millionaire. It may do, but don't bank on it. If you're purely after the money, then there are plenty of things you can do - from pizza deliveries to dog-walking. But the right side-gig can also build experience, stories and networks that will significantly enhance your career trajectory.
The point is, if you want to bring in some extra money to pay the bills, get a part-time job working for someone else. Guaranteed money with minimal upfront cost.
If, however, you want to build your personal brand and experience and the money is less important, then you need to set something up.
Finding your side hustle idea
Here we dive into the rules to follow when picking a brand-building side-hustle:
1. Stick to the script 🧭
If you want to work in social media, then set yourself up as a freelance content creator.
If you want to work in journalism, then set up a blog.
If you want to work in software development, build an online product.
You get the gist. Work out what you're story is and where you want to be. Everything else should follow this direction.
A brand-building side-hustle is a step on the path to where you want to be.
A part-time job is a parallel path that leads to nowhere but earns you money.
2. Pick skills you want to showcase 🦸♂️
Work out what you are good at and what are going to be the in-demand skills for future careers or businesses you want to build. And from there, work backwards. Here are some examples:
Marketing - can you build something that allows you to promote it and attract customers? An event, a website, a product. Or work with someone else's product and help promote it - e.g social media support.
Sales - where are the opportunities to build a strong sales credentials? Look at what people in your network are buying and identify opportunities to get products to them. It could be physical products (eg. dropshipping, second-hand selling) or digital products (eg. an online course, templates on Notion, etc)
Design - what tools do you want to master? Work out what is and will be in-demand (particularly considering the future capabilities of AI-powered design tools). Then get creating some designs and showcase them across your social profiles and website.
What you're good at + Where you want to be = What you should be showcasing
3. Work out who you know 🙋♀️
The power of your network should be a big determinant in what you start doing. This network can help advise and promote your business.
For example - if you already know a load of people running online courses, then you have a ready-made mentor group and list of collaborators to work alongside.
Don't just consider immediate connections. Communities like hatchin can be a great place to identify people that can help you on your journey 💪
Next steps
Once you've followed the rules above and identified a niche you want to play in, your next steps line up like this:
Build a solid online presence: Create your online persona. This could be you and/or the company you're setting up. All the obvious places (Instagram, Tik Tok, LinkedIn) but also ensure you have a website that you can direct people to for sign-ups, purchases, etc.
Shout about it: Make sure everyone you're connected to knows about your side-hustle. And get them to tell their friends. And their friends' friends.
It will all feel cringe at the start. But word of mouth is the most powerful way to get your business out there. Plus its free...
Set some goals: You need to be shooting for something. Whether its "500 subscribers to my website within 3 months" or "30 T-shirt sales per month", some clear goals will keep you focused and motivated.
Takeaways
Work out whether you're in this for money or personal development.
Choose something which aligns with your skills and interests.
Trawl through your network for collaborators and customers.
Oh, and sign-up to hatchin 😉
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