10 Side Hustle Ideas For You In 2020
Commitments. Responsibilities. Duty. These are some of the reasons why you might be looking for that extra cash. It doesn’t matter how much you earn from your primary job, there will come a time when you will need that extra source of income. In fact, you might have already started contemplating about the side hustle business you can start this 2020.
If you’re reading this I’m guessing that’s why you’re here.
I’m not going to deceive you and tell you I have made so so amount of money from side businesses. But I can tell you that you can make a lot of money through your side hustle. Enough to give you financial freedom even.
How much you make however depends on your commitment and how much work you are willing to put in.
Let’s get down to business.
What is a Side Hustle?
A side hustle is any way you make money outside of your primary job. A 9-5 job is cute sometimes but are you financially free? Even as full-time entrepreneurs you need a side hustle.
That extra cash goes a long way in helping you gain some financial freedom, lower your financial strains, pursue your dreams and have peace of mind.
The truth is that there will always be a salary cap as employees, even with bonuses and yearly salary increase. This is especially true for lower-tier earners.
I want you to do something for me. Write down your salary; subtract your expenses like transportation, food, and rent. You will find out that you will barely have enough money to cater for any other expenses.
Remember that you didn’t include miscellaneous spending in that calculation.
A side business can give your financial life that extra boost of health. You can even achieve financial freedom in the long run.
A couple of hundreds or thousands of dollars will go a long way in easing your financial woes.
Why don’t we dive into the best side hustle ideas that can get you that extra cash, even while working from home?
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How Do You Develop A Side Hustle?
In truth, there are other ways to make some extra money like making smart investments. But I prefer something I have control over; a business that I can get involved in and oversee the growth.
If you’re still reading I take it that you are really interested in that extra source of income. But I have bad news. It is one thing to decide that you need that extra cash and it is another to know how to go about it.
I also have some good news. I will be breaking down how to start and develop a side hustle into easy steps that you can follow.
Make a list of your interests
Without passion, your side business can be over as quickly as you started. You must love and be interested in what you are doing. Being employed or owning a business can be tough and frustrating and you will need to stay motivated.
I have come to realise that we are always more patient with things we are passionate about. So make a list of your interests, skills and hobbies then base your side hustle idea around that.
Decide if you will be investing in it
Some businesses need more resources than others. But your side hustle must not be too expensive to start. Even after considering your start-up investment like branding, logo, tools, materials etc.
You must also make provisions for how you intend to gain customers be it through advertising or paying influencers.
This means you may need to save up some money to cover these costs.
I can’t tell you how much is enough or too much to start a business. That depends entirely on you and how resource-intensive your chosen side hustle is. You must make sure you know how much you are spending so you can measure your success accordingly.
Some side hustles don’t end up being smart investments.
Make sure it doesn’t conflict
I have a friend who works with an e-commerce company. She started a buying and selling business on the side but later had to put it on hold. It turns out her company has a policy that frowns on that kind of practice.
If your side hustle will result in a conflict of interest, it is best that you hibernate that idea or try something different.
Create time for your side hustle
So you have a job or you run a business and it is very time-consuming. How do you then create time for your side business? I won’t patronise you and say it is going to be a smooth sail but I can tell you it will be worth it in the end.
With time and consistency, you will find a balance. Three to four evenings during the week or a couple of hours during the weekend isn’t a bad place to start.
Remember your day job
Because time is always a factor, it is very easy to become consumed in your side hustle that you start to neglect your day job. That isn’t a very good idea. The goal is to find a balance that works for both.
That is why my third point is to avoid a conflict of interest. You can go back and read it again.
10 Side Hustle Ideas For You In 2020
Start A Blog
It’s only obvious that I’m starting with this as it’s one of the most common side hustle people search for online. And let’s not forget that it’s super easy to start.
With just a few dollars, you can get a blog up and running.
CMS platforms like Wix and WordPress have made it really easy to start a blog. Add the fact that you can blog about a niche that you are passionate about then you are in for a swell time.
You can earn while blogging through adverts, sponsored posts, affiliate links, or adding your dropshipping shop links to articles.
Start a Dropshipping Business
I don’t know why but I love the idea of dropshipping.
What is dropshipping?
Dropshipping is a business model that allows entrepreneurs to sell products online without an inventory.
What this simply means is that you get to sell products to customers without buying or owning them.
All you do is advertise the product and direct potential customers to the supplier’s page.
The beautiful thing about dropshipping is that you need relatively little or no start-up cost. The manufacturer takes care of the inventory and shipping of the products. Cool right?
However, to be successful in dropshipping you need two key skills – marketing and customer service. You don’t have to be an expert; a little knowledge is enough to kick-start with.
Become A Freelancer
Freelancing has become so popular in recent years that the internet is basically littered with many freelance courses and articles. The good thing part is that it also means that it’s relatively easy to start.
There are various freelance jobs that you can do as a side hustle. Some of my favourites are freelance writing, freelance graphic design, freelance website designer and even virtual assistants.
According to a survey carried out by Upwork, if the current uptick in freelancing continues at its present trajectory, in about 10 years from now 50.9% of the U.S. population will be freelancing. As stated in a study on Forbes, the number of U.S. freelancers hit 57.3 million in 2017, from 53 million in 2014—an 8.1 percent increase, according to the survey.
Those are mind-blowing statistics that show you will be in good company if you choose freelance as a side hustle to do from home.
Become an Affiliate Marketer
There was a time when I’d get confused about the difference between affiliate marketing and dropshipping. But I’ll clear that confusion for you now.
The major difference between dropshipping and affiliate marketing is that you are not obliged to take care of customer support with affiliate sales whereas it is part of your duty as a dropshipper. You are a store owner as a dropshipper.
You can become an affiliate marketer for virtually any company that offer affiliate fees. But affiliate fees are quite lower for eCommerce stores so why not just dropship for them?
It is of importance that you find the right brand to partner with and the right product to sell. Amazon is very popular among affiliate marketers so you can also check it out.
Become an Instagram Influencer
So you have a lot of followers on Instagram and you generate quite the impression, likes and comments. But it’s still all fun and humour for you.
Don’t do that, don’t be like that. You already have a credible side hustle at your fingertip.
All you have to do is position yourself as an influencer by growing your personal brand.
Three ways you can make money on Instagram include Instagram takeovers, sponsored posts or selling of products. Once you’re consistent with your brand people will find you.
Run Facebook Ads and Marketing Campaigns
Facebook and Google combined have the highest number of users in the world. This makes them interesting targets for marketing endeavours by companies. And even better, it opens up an opportunity for you to position yourself as a digital marketing consultant.
With a few smart investments, you can become knowledgeable about SEO and analytics.
Business owners and companies will always need to advertise their products and services but how many have the know-how? You can make some easy money running Facebook Ad campaigns and Google Ads for clients.
Become a Virtual Assistant
There’s something about the idea of a virtual assistant that just sits well with me. A virtual assistant is an assistant working remotely instead of the office.
These assistants help with tasks like administration, social media, email, bookkeeping, customer service and more.
It might seem strange to you but virtual assistants are in high demands.
The downside is that there might be a limit to what you can make as you might be paid hourly, daily, or monthly. It is advisable to have at least some knowledge of some administrative skills before choosing this side hustle.
Become an Online Tutor
Some of us are just passionate about imparting knowledge on others. You might have even been doing this for free without you knowing.
But there is a cool business opportunity in tutoring.
Of course, you have to be well versed in the subject you are looking to teach. You can choose to tutor locally or online.
If you choose locally, you can put up posters around your area. But if you prefer to tutor online, you can check out Chegg, Tutor.com and others. Another way to tutor online is to open a Facebook or WhatsApp group, you can even monetize it if you wish.
Go Into Photography
So you have some photography skills and you are the go-to paparazzi for your friends. You take beautiful pictures of your city, nature and others. Why not take up photography as a side hustle?
You can sell your pictures to newspapers or magazines. Companies like Foap, allow you upload your photographs for potential buyers to see.
If that option looks too hard for you, you can always print your photographs on t-shirts, phone cases and more then sell. Or you can network your way into product photography, pet photography or event photography.
You will still be doing what you always do for fun but this time you are getting paid for it.
Buy To Sell
Buying to sell is a lot like dropshipping and affiliate marketing, in fact, they all require almost the same skills. The major difference between the three is that with buying and selling you are actually taking inventory of products yourself.
You simply have to invest a little cash into marketable products of your choosing and you sell at a higher price to customers. I am putting an emphasis on MARKETABLE PRODUCTS.
This type of side hustle has become relatively easy to start with the emergence of eCommerce platforms like Aliexpress and Alibaba. With an eye for a bargain and some marketing skills, you can become a big hit in buying and selling.
It is important to know that none of these side hustle ideas is a make money quick scheme and they require a lot of trial and errors. You must first take the time to understand the art before you can make any meaningful money.
What I’m telling you is to invest time and maybe money in studying your preferred side hustle. That is always a good idea. Side hustles are not Ponzi schemes so don’t expect to become a millionaire overnight without putting work in.
There are several other side hustle ideas out there but I am limiting this article to these ten businesses. Why give you 100 side hustle ideas that you can start from home when I research and give you the best fit? At least that’s my thinking.
Leave a comment if you have other profitable side hustles that wasn’t included in this list. Thank you.