The Ultimate Side Hustle: How to Stay Agile on the Way to Financial Freedom
Side hustle, or hustle in general, enables me to focus on my true goal: I must become financially freee.
It is not a matter of if, it is a matter of when.
So I test my limits by deploying a range of design skills I acquired through my short career and apply them in side projects and gigs I create.
My creativity shines when I do graphic design, or mastermind marketing campaigns, or when I remodel and re-sell houses. I think fast on my feet and extract necessary information fast for an unfamiliar task because I must succeed.
How To Have a Successful Side Hustle
I will not list typical side hustles you may have already found on the web. I will describe my approach to side hustling and explain how I applied my skills to create unique side hustles.
I want to point out that some define side hustles as project you exert control over and that produce cash flow.
Those are different from just getting supplemental jobs on the side. I actually will present the ones that made me money.
But first, let’s find a why and a how for starting a side hustle besides the obvious, of course.
Chris Guillebeau answered these questions in his book Side Hustle: From Idea to Income in 27 days (Chapter The Money Tree ).
- Everyone should have a side hustle even if you love your job. Having more than one source of income will give you more freedom and more options. This principle must be fully implemented with respect to having a business and fully investing in yourself. (TH).
- To be successful at hustling, you first need to understand how to generate profitable ideas and then choose which one is best at any particular time.
- Side hustles are all about action! You need to launch your idea, usually before you feel totally ready. Then you can regroup and refine after seeing the initial results.
Seth Godin summarized the last point in his product marketing principle known as “Ship it!”
You design a product and you have to ship it before you refine.
Otherwise, you will never release at all, or if you do, it will be late anyway.
This principle also true about writing: you just have to start and make a quick outline, the rest will fill in on its own.
I did not want this post to be a list of side hustles you find anywhere on the net. I wanted to share my own experience of how each idea unfolds.
This side hustle brought me the highest return on my investment with respect to the time and the money spent.
I actually lived in a couple of the houses we flipped while they were renovated.
If you are willing to sacrifice – deal with contractors in your spare time, handle noise and dust so forth, you will be paid handsomely at the end of the renovation.
Furthermore, you are saving on rent or another mortgage you would be paying otherwise. I did not mind making that choice and it afforded me to live in the most beautiful parts of California later on.
As a side note, house flipping is not cheap and requires decent financial investment, therefore, you must proceed with caution.
Do your research and understand well not only the terms of the contracts you sign but pros and cons of buying a certain property.
Selling Online Items Acquired for Free
You can find free stuff online in local Facebook groups and Craigslist you just need to be able to pick them up.
First you need to research best selling items on the web and then you can sell them on eBay for 100% profit, well, almost for 100%, minus your research, travel time, and gas.
I had a lot of luck with small and medium scale used electronics I acquired for free and sold on eBay. My time investment actually was minimal.
Consulting and Teaching
I find design teaching and design consulting gigs due to my background in building design.
In fact, my background helped me a lot in house flipping and remodeling with respect to design, cost estimating and budgeting, interacting with contractors and quality control.
Your background and skills have to guide you in selecting and testing side hustle ideas.
You must identify whether a side hustle idea is worth your time and energy investment. Filling out consumer surveys online for quick cash work as a temporary cash producing solution.
However, the long-term time investment does not pay off due to a low point of market entry – it requires neither creativity nor unique skills.
That is why anyone can do it and it does not pay much either.