Recent economic events have taught many that relying on one income is fool hardy. Even if you think your job is secure, unforeseen events can rock that job security. Where are you without your full-time income? If you’d lose all of your income if you lost your primary job, it may be time to start thinking about a side gig.
A side gig doesn’t have to feel like work. I know, your time is precious, and the last thing you want is one more job to do. However, a side gig can give you increased security by creating a different income stream. If you’re a stay at home parent, a side gig can help you provide some extra money in the budget and give your family a bit more wiggle room.
What Side Gig Is Right for You?
Think about the things that you love to do. I love to write, so seeking a job as a freelance writer was a given. However, I also have experience teaching, so tutoring or teaching part-time could also be avenues I could explore.
Write a list of all of the things that you are good at or skilled in. Write down every single thing that comes to your mind. One of these ideas could likely lead to your side gig.
Think about a niche that needs to be filled in your community. Is there an area where you see that something is lacking? For instance, in our community, there is no longer an after school program at the community center. The kids simply hang out at the library. Someone could offer a more structured program for kids after school and make a nice side income.
How Much Time Do You Have?
What side gig you choose may also depend on how much you need the money. If you need money now, you might consider a job outside the home such as working as a tutor at a tutoring center or even taking a job at Starbuck’s.
If you have more time and don’t need the money as urgently, you can grow your side gig more slowly. For instance, Lisa Morosky started a very part-time side gig as a virtual assistant (VA), but soon her business grew. She quit her full-time job to work as a VA full-time. Then, she was able to hire more VAs to grow her business, and she even wrote a successful ebook about being a VA, The Bootstrap VA, all in the span of a few years!
Likewise, Mandy Rose of House of Rose Blog started her blog just a few years ago. In her monthly income report she and her husband share, she mentioned that she only earned $47.76 in January, 2012, but in January, 2013, her blog earned $2,700.61!
If you have time to build your side gig, you may reap enormous rewards, as these women have.
Choosing a side gig isn’t easy. Make sure to choose something you’re passionate about and which has the potential to earn a nice side income. Who knows? Maybe you might eventually leave your primary job and turn your side gig into your business.