What’s a good side hustle
If you search for a good side hustle all the top-ranking sites will give you a list of the top side hustles that you can consider doing. But before deciding on what is right for you. Let’s discuss what we actually mean with a good side hustle.
1 – A good side hustle is a hobby
The reason most of us start a side hustle is to be able to earn an a few extra dollars, and in the long run we dream that it one day will replace our day job. The only way for it to be successful it needs to be something that you are really passionate about and something that you would do even if you arent payed a single dollar. Otherwise you better focus on your current day job or look for another job that is more aligned with your believies.
2 – A good side hustle is flexible
The next most important thing about a good side hustle is that it’s flexible. And by flexible I mean that you can do it whenever you want. If it requires you to work at certain times, then it most likely will turn into a normal job that will add stress and quickly just be a burden. The really bad thing about this is that you might turn your hobby that you loved to do, and maybe was a way to get away from your normal job into a bad thing.
So please try to find a good side hustle that is flexible and allows you to live the life you want. Your normal job puts enough constraints on you as it is.
3 – A good side hustle offers possibilities for skill enhancements
One of the most important things if you will have as successful life is to always want to improve. Instead of Netflix binging, doing something that moves you forward. What you are doing is not that important, as long as it’s something that you feel is beneficial in an area that you like and would improve on.
A good side hustle makes you happier, more competitor and hopefully even lets you earn a few dollars along the way!
4 – A good side hustle doesn’t require a lot of capital
As the name Side hustle entitles, it’s something you do that should benefit in the long run. If it means that you need to do a significant investment in buying an inventory or signing up for expensive software before you see that it actually can bring in some money you are taking a great risk. You most likely can handle it, but it will also bring a lot of stress to your life. The first side hustles you try, will most likely not be successful and if they cost you a lot of money, the chance you will will continue trying until you succeed is slim.
5 – A good side hustle is in an area in high-demand
Pursuing a side hustle in a niche with minimal demand or interest might not yield significant financial returns. While transforming a passion into a source of income is appealing, it’s crucial to balance joy with profitability. If the potential to earn substantial income is limited, it might be wise to preserve the activity as a hobby. A successful side hustle should bring joy and have the potential to contribute meaningfully to your income without the added pressure of financial reliance, which could potentially tarnish the enjoyment of your beloved hobby.
6 – A good side hustle is scalable
Having ticked all the previous boxes, you’re well on your way to selecting a promising side hustle. Now, consider the scalability of your venture. It’s a great start if your side hustle can sustainably bring in enough money for you to make a good living. However, for those aiming to elevate their earnings to new heights, choosing a side hustle with significant scalability is key. Opt for a venture that allows for outsourcing or automation, enabling it to thrive and generate income independently over time. This approach can transform your side hustle into a genuine source of passive income, providing financial returns even as you explore new opportunities or passions.
7 – A good side hustle can be done remote
While it may not apply universally, many aspiring to earn a living from their side hustle greatly value the flexibility to work from anywhere. Whether you’re content in your current location or yearn to explore new destinations, a good side hustle should afford you the freedom to operate globally. This adaptability not only caters to those with wanderlust but also ensures that your side hustle can seamlessly integrate into various lifestyles, offering the ultimate blend of work-life harmony.
