COVID19 was the point where a great restart happened. The battle between “9-to-5” and “Be your own boss” got clearer and moved faster. Recent polls show that the number of freelancers and people who work on the side has grown by a large amount. For example, a Zapier survey found that 40% of Americans said they had a side hustle. This shows that a lot of people now have more than one source of income thanks to these kinds of jobs.
Given the rise of the gig economy and the growing desire for flexible work arrangements, this trend doesn’t come as a surprise. Since technology is getting better and online work is becoming more popular, it’s easier than ever to start a side job and make extra money from home. Whether you want to pay off debt, save for a trip, or just explore your interests, a side hustle can help you reach your financial and personal goals in a good way.
In this blog post, we’ll talk about the best ways to make money on the side in 2024. We’ll talk about both practical and creative choices and give you tips on how to start and run your own successful side business. So, let’s get started and find out the best ways to make extra money on the side and follow your dreams in 2024!
What to Look for in a Side Hustle
When picking a side hustle job, it’s important to find the right balance between your own hobbies, market demand, the amount of time it will take, and the amount of money it could bring in. Here are some important factors that can help you decide which side jobs are the best ways to make money and give you a sense of purpose:
- Follow your passion (You knew it was coming!) Think about what you’re interested in and what you’re passionate about. Your side job should be something you like to do and that shows off your skills. For example, if you love photography, you could offer your skills as a freelance photographer or sell your photos online. The idea is to do what you love and also generate income on the side.
- Find out what the market needs. Look into the market and find places where your services are needed. This step will make sure that people in your area or online want what you want to do as a side job. For instance, if you live in a touristy area, you could offer to be a tour guide or start a blog about local travel.
- Think about how much time you have and how flexible you can be. Think about how much time you can put into your side job and pick something that fits with your schedule. Your side job should fit into your plan and be flexible enough to adapt to changes. For example, if you already have a full-time job and responsibilities with your family, you might want to choose a side job that lets you work from home and set your own hours.
- Figure out how much money you could make. Finally, think about how much money you could make with your chosen side gig. Even though you might not make much money right away, you should choose something that could make you a good living in the long run. For example, you could start a blog or YouTube channel and make money from it through affiliate marketing, sponsorships, or ads.
By keeping these things in mind, you’ll be able to choose side jobs that not only bring in extra cash but also let you do things you’re interested in.
10 Ideas for Making Money on the Side That Are Doing Well
This part has 10 of the best side jobs for you to choose from. These ideas are not only popular, but they could also be used to make income on the side. From making NFTs to selling through influencers, this list has something for everyone. So, let’s dive in!
Making NFTs and Selling Them
As Web3 technology and NFTs (non-fungible tokens) become more popular, there is a rising need for creators who can make and sell digital art and collectibles. According to Decrypt, there were 101 million NFT deals in 2022, compared to 58 million in 2021.
Process: Look into famous places like OpenSea, Rarible, and SuperRare to sell non-fungible items. Make digital art that is one of a kind and sell it.
Social Media Management
This is probably the most popular side hustle idea for making money on the side. Social media management is always needed to help businesses and people grow their online profiles. As a social media manager, you can make and plan posts, talk to followers, and look at how people are using your social media accounts. ZipRecruiter says that the average hourly rate for an experienced social media manager is more than $27.
Process: Building your own social media profile and network is the next step. Reach out to businesses and tell them you can help them with their social media. Make a collection of your work to show off what you can do.
Consulting Firm for Digital Marketing
As online marketing becomes more important, businesses need experts to help them come up with and carry out their digital marketing plans. All this makes this one of the best side hustle ideas. Glassdoor says that The usual consulting fee for a digital marketing consultant is over $60,000 per year.
Process: Build your own website and profile on social media to show off your digital marketing skills. Contact businesses and offer your consulting skills. Learn a lot about the principles and tactics of digital marketing.
Making an online store (One of the best side hustle ideas)
As online shopping becomes more popular, there is a need for people who can set up and run e-commerce shops. You can set up your own online store and sell goods or services with systems like Shopify or WooCommerce. Shopify says that the platform has helped businesses sell more than $200 billion worth of goods.
Process: Choose a niche that interests you and do study on products and suppliers. Set up your store on a site like Shopify or WooCommerce and make product listings that make people want to buy.
Dropshipping is a business model where you don’t have to hold inventory or handle shipping. Instead, you can partner with suppliers who will fulfil orders for you. According to Shopify, you can expect a revenue of $2000/monthly in 10-15 hours of work per week.
Process: Find reliable suppliers who offer competitive pricing and fast shipping times. Create an e-commerce store and import products from your supplier to your store. Market your products and fulfil orders as they come in.
Virtual Event Planning
Virtual events are becoming more and more popular as people work from home and spend less time with their friends. As a virtual event planner, you can help people and companies plan and run online events like webinars, conferences, and workshops. According to ZipRecruiter, the average hourly rate for an event planner is $25.
Process: Develop a strong understanding of virtual event platforms and software. Reach out to businesses and individuals who may need help planning virtual events. Create a portfolio of past work to showcase your skills.
Podcasting (Side hustle ideas)
Podcasting has become a popular way for individuals to share their knowledge and build a following. You can create your own podcast on a topic you’re passionate about, and earn money through sponsorships, advertising, and merchandise sales. According to Advertisecast, the rate for a 30-second ad in a podcast episode is $18 per 1,000 listens
Process: Choose a topic that interests you and research your audience. Create a podcast plan and choose a format that works for you. Record and edit your podcast, and publish it on popular platforms like Apple Podcasts and Spotify.
With the increasing use of smartphones and mobile apps, there is a demand for individuals who can develop and design websites and mobile applications. According to PayScale, the average hourly rate for a developer is $30-$200!
Process: Develop a strong understanding of programming languages and mobile app development tools. Create a portfolio of past work to showcase your skills. Reach out to businesses and individuals who may need help developing mobile apps.
As more companies create video content, there is a growing need for voiceover artists who can provide professional narration. According to Voices.com, the average hourly rate for a voiceover artist is $100.
Process: Build your own website and social media presence to showcase your voiceover skills. Create a portfolio of past work to showcase your skills. Reach out to businesses and individuals who may need voiceover work done.
As social media continues to grow, influencer marketing is becoming a popular way for businesses to promote their products and services. As an influencer, you can create content on social media platforms and earn money through sponsorships and brand deals. While he slept, this boy earned $34,000 by live streaming, in a single month!
Process: Build your own social media presence and network. Reach out to businesses and offer your services as an influencer. Create a media kit and showcase your past collaborations and engagement metrics.
These are just a few examples of the latest and most popular side hustle ideas for 2024. Where can you find more? Ask AI! Based on your inputs (skills, interests, market, etc.) ChatGPT can give you a list of suitable side hustles and a framework on how to build your business.
Tips for Starting a Successful Side Hustle
Starting a side hustle can be a challenging and rewarding experience. Here are some tips to help you get started on the right foot:
- Set Clear Goals and Expectations: Identify what you want to achieve with your side hustle and set realistic goals. This will help you stay focused and motivated.
- Create a Business Plan: Develop a roadmap for your side hustle that outlines your goals, target market, competition, and financial projections.
- Develop a Marketing Strategy: Determine how you will promote your side hustle and attract customers. Utilize social media, email marketing, and other online channels to reach your target audience.
- Utilize Social Media and Networking: Build your personal brand and network through social media and networking events. This will help you connect with potential clients and collaborators.
- Focus on Customer Service and Quality: Your reputation is critical to the success of your side hustle. Make sure you prioritize delivering high-quality work and excellent customer service.
- Manage Your Time Effectively: Balancing your side hustle with your full-time job and personal life can be challenging. Develop a schedule and prioritize your time to ensure you stay productive and meet your goals.
Starting a successful side hustle requires careful planning, dedication, and hard work. By identifying your passions, skills, and market demand, you can find the right side hustle that makes money for you. It’s important to set clear goals, develop a solid business plan, and prioritize customer service and quality. According to a study by the Small Business Administration, 30% of small businesses fail within the first two years, so it’s crucial to take the necessary steps to ensure your side hustle’s success.
But don’t let the statistics scare you. With the right mindset and determination, your side hustle can thrive and provide you with a sense of fulfillment and financial stability. Why not take the first step, start your side hustle, and start generating income on the side today? Start by affirming in the comments below. Say ‘YES’