Six Signs of a Killer Side Hustle
Curious about a side hustle or a way to create a second income stream? Maybe your finances have recently changed. Or, maybe the changing times have shown you the value of multiple income streams. Or maybe you just want more spending cash to go out and take vacations.
Your day job might help you pay for the essentials. But a side hustle could be the game changer that’ll make a difference in your wallet while giving you the freedom you’ve always wanted.
According to an article published in Inc. Magazine in 2018, an estimated 44 million people in the U.S. have a side hustle; that's over six times the number of workers who hold multiple jobs.
What to look for in a side hustle:
Compensation strategy
There are endless opportunities, but they won’t all benefit your bank account. Be sure that you understand how you’ll make money. A transparent and generous compensation plan is critical.Time
Understand how much time is needed to be successful and if you’ll be able to create residual or passive income.Flexibility
The best thing about creating your own business is giving yourself more flexibility in life. I love doing a job that I can work as much or as little as I want, whenever I want from wherever I want. It’s the ultimate in flexibility!Values
When you choose your side hustle, pick something you want to do. Pick something you want to achieve. Does your side hustle align with a mission or greater purpose that you care about?Short term and low risk
Is your side hustle something you can monetize and feel successful with quickly? How big of a risk are you taking if you decide in 6 months that it is not for you?Growth potential
Will it develop your skills and experience? Does this opportunity leave room for growth and unlimited income potential? I recently heard a team member of mine describe her time with Beautycounter as a mini MBA. And another said “I’m teaching my 18 yr old to think of this as a class before she goes to college and interviews in August for internships for next summer!”
Are you ready to dive in? Below are some additional resources:
Beautycounter is #1 in Zoe Report! Side hustles that actually make you money!