How to Make the Most Money With a Side Hustle

While starting a side hustle enables you to pursue interests and hobbies outside your 9-5, ultimately, they’re used as a way to monetise these interests and earn an extra income.

Many hope for their side hustles to become fully-fledged businesses, but how do you make this financially viable? How can you make the most money from your side hustle?

Here, we’ve collected top tips on how to make the most money with your side hustle. With comments from the following professionals…

• Clare McKeeve – CEO at Talenthouse
• Michael Zalle – Founder and CEO of YellowBird
• David Ciccarelli – Founder and CEO of Voices.com
• Meera Watts – Founder of Siddhi Yoga
• Lyle Solomon – Principal Attorney at Oak View Law Group
• Michal Jonca – Community Manager at PhotoAiD

For any questions, comments or features, please contact us directly.

Clare McKeeve

Company: Talenthouse

Website: https://business.talenthouse.com/

“Over the last couple of years, we’ve seen a shift in people’s priorities as they spent more time at home, investing time and money into their passion projects and side hustles. While side-hustles usually provide a top up income or a cost neutral hobby, for many the ultimate goal is to turn a side-hustle into a fully-fledged business. It’s therefore vital that entrepreneurs carefully consider the platforms they choose to set up, run and make money from their venture.”

‘While side-hustles are a side-income, it’s important that entrepreneurs choose to work with a platform that supports their financial needs. Creatives for example are poorly served by traditional financial institutions and so those running a creative side-hustle should seek a platform that gives them the tools to manage their billing and accounting efficiently. This will give them both the freedom to focus on creativity and the opportunity to scale the side-hustle if desired.”

“At the same time, it’s important to work with a platform that offers well-paid and interesting jobs. Often the biggest corporations offer the highest financial rewards, while other fast-growing businesses are renowned for their innovative and forward-thinking approach. It’s important that entrepreneurs check the platform’s client roster to ensure the opportunities that come their way will not only pay them well but help them learn and grow.”

“Finally, entrepreneurs should work with a platform that supports their wider community and business needs. Some platforms allow entrepreneurs to build their own profile and connect with like-minded people. This can be hugely valuable, both for those that are finding their feet in an industry and those that are setting themselves and their side-hustle up for the future.”

Michael Zalle

Company: YellowBird

Website: https://www.goyellowbird.com/

“To make the most money with a side hustle, individuals will want to tap into their most valuable professional skillset, no matter whether that is safety assessments, graphic design, computer modelling, or accounting. The gig economy is no longer just for delivery drivers and dog walkers. As the Great Resignation drags on, employers have begun turning to freelance and contract workers for highly skilled professional work and they’re willing to offer higher pay, flexibility, and even insurance in some cases.”

“Many professionals will market their side hustles on social media platforms or job boards to find project work. But that wastes time and money in creating posts, searching for listings, and responding to job offers. Plus, there is always the question of when and how they will get paid.”

“To carve your own career path, find the best paying jobs, and learn new skills, professionals are encouraged to look for specialty gig economy platforms that market to specific industries. The best professional services gig platforms use artificial intelligence to match individual’s skills and certifications with specific projects in minutes, then automatically contact the individual to see if they are open to work. One example is YellowBird, which matches Risk Management and Environmental, Health, and Safety professionals with companies in high-risk sectors like construction, manufacturing, mining, and insurance sectors. YellowBird’s EHS professionals make an average of $65 USD/hour and can accept or pass on any project without impacting their ability to gain future work. Unlike other work platforms, YellowBird takes the extra step of providing liability insurance, pays workers directly, and doesn’t charge them a fee.”

“These days there are many choices, even LinkedIn announced they will be getting into the marketplace. But not all platforms are the same, so I recommend individuals try out multiple platforms that offer a wide scope of specialised project work, high paying jobs, remote opportunities, and insurance.”

David Ciccarelli

Company: Voices.com

Website: https://www.voices.com/

“The simple answer is find something that you truly enjoy doing and that you can envision yourself pursing for the next year or two, hopefully longer.”

“At the beginning, you’re not likely to earn enough to cover rent or the mortgage, however with time you’ll gain more clients who keep coming back to you month after month, year after year.”

“By niching down to an area of expertise, and one that you are not only good at, but also enjoy, you’ll be able to attract clients who are looking for your expertise, and also allow you to develop a portfolio of work that in turn attract other clients. In short, success begets success!”

Meera Watts

Company: Siddhi Yoga

Website: https://www.siddhiyoga.com/

“Saving money and increasing it over time needs a lot of patience and time. Hence, start investing the money you earn from your side hustle. But I won’t recommend directly jumping on it. Take advice and lessons from your friends or family who have done it in the past. If possible, you can take the help of a financial advisor too who can handle your money. This way you’ll be in safe hands.”

“No matter how much you save, turning it into a big number is a game of time. That’s why the best possible way is to invest in it. This way, you’re not only increasing your savings but also saving for your future which will only help you someday.”

For any questions, comments or features, please contact us directly.

Lyle Solomon

Company: Oak View Law Group

Website: https://www.ovlg.com/attorneys/lyle-david-solomon/

“Work from home has opened up multiple avenues for us. Sometimes when the 9 to 5 job is not enough, we look to the skills we possess that can easily provide us with extra cash if used correctly.”

“Like…”

Freelancing: “Freelancing is a great way to earn extra cash. With freelancing, you can put your skills and creativity to work for you. Here, you can write, paint, and do graphic designing or digital art. You can also become a virtual assistant, or you can try becoming a consultant to provide information on topics you have extensive knowledge about. There are numerous jobs just waiting out there.”

Airbnb: “You can try hosting for Airbnb. Airbnb is a fantastic resource for people who want to rent out extra space or even their entire home. If you need money quickly, AirBnB provides a way for you to create a good side hustle. In order to avoid any issues or potential scams, you will be paid 24 hours after a guest checks in. Some people make their living solely by renting out a room or residences on Airbnb.”

Get into Wholesale Trading: “If you like the idea of running an online business but want to be more involved in the process, starting an online store through wholesale may be the best way for you to do it. This is a business model in which you buy a lot of things in bulk at low costs and then sell them to your customers at a higher price.”

Michal Jonca

Company: PhotoAiD

Website: https://photoaid.com

“I believe everyone can make money with a side hustle. And by investing some time in planning it, you can make the most of it!”

“First of all, you have to remember that developing your skills is “just” a part of maximising your income with a side hustle. The substantial but often under appreciated factor is how good you are at selling yourself. Believe me, people judge the book by its cover. If you’ve created a profile on a gig website like Freelancer.com, Upwork, or Fiverr, spend a few hours making it look as professional as possible. Create an amazing copy, take a good picture, and fill all textboxes. It seems obvious, but most people really don’t care about their profiles. What a waste of opportunity!”

“Secondly, take care of your customers. According to many statistics, acquiring a new customer is up to five times more expensive than maintaining the current one. Provide them with high-quality work, reply to messages, and let them know that you understand their needs. Remember, you should care about Customer Experience just like companies do.”

“Thirdly, think economically. The point is that each side hustle takes work and time to get done. Keep an eye on how long a given task takes you and how much you earn in this time. This will give you an idea of how much your work is worth. Because if, at the same time, you can earn more by doing a different side hustle, why waste your resources doing unprofitable things?”

For any questions, comments or features, please contact us directly.