Side hustles are a great way to supplement your income. While they may require some extra effort and time commitment, side hustles offer the potential for increased financial stability and personal satisfaction. You can successfully launch and manage a side hustle with careful planning and the right attitude while working full-time. In a previous article, we shared various ways you can earn extra income.
A side hustle will help you generate extra income to pay some of your bills, especially with the ever-hiking rents and cost of living in urban settings. The best part about starting a side hustle is that age does not dictate your chances of success, as studies have shown that people build businesses at different ages. This article provides guidance on starting a side hustle and helps you get started.
Starting a side hustle while working full-time can be an exciting and fulfilling way to explore your passions and generate extra income.
Identify Your Interests and Skills
Think about your interests, hobbies, and skills. Identify what you enjoy doing and what you are good at. This could be anything from graphic design to writing, cooking, decorations, hiking coding, tutoring, or crafting. Choose something that aligns with your strengths and brings you joy. Also, ensure that your interest in a certain idea is not seasonal but sustainable to keep you going even during challenging moments.
Don’t be afraid to give up the good to go for the great.
John D. Rockefeller
Research and Validate Your Idea
Once you have a general idea, research the market to determine if there is a demand for your product or service. You can also single out someone in the same business line and engage them; by all means, seek authentic information from different trusted sources. Don’t be carried by investment waves that could drain you and your resources in the long run.
Look for competitors and evaluate their operations. Identify your unique idea and how it can solve a problem or provide value to potential customers. Also read widely about starting a side hustle; many resources address this topic since it has become almost obvious that most people, more so Kenyans, cannot live on only one job, no matter how secure or well-paying it appears to be.
Reading books can transform your thinking in a minute and make you see opportunities that others may not see.
Plan and Set Goals
Create a solid plan for your side hustle. Define your short- and long-term goals and outline the steps required to achieve them. Consider aspects like pricing, marketing strategies, target audience, and your needed resources. Set realistic goals that align with your available time, resources, and energy. Start from the point you are now! Unlike regular 8 to 5 jobs, starting a side hustle requires you also to be very creative and come up with a unique idea that identifies a market gap and turns it into a business.
Locally, you will realize that Kenyans are very aggressive and creative, so you must think outside the box to stand out from other businesses. For instance, if you find people complaining about a particular product or service, think of a solution and turn it into a business idea instead of joining the banter.
If you’re not building your dream, someone else will hire you to build theirs.
– Tony Gaskins
Manage Your Time Effectively
Balancing a full-time job with a side gig requires effective time management and discipline. You will need to assess your schedule and identify the appropriate times you can dedicate to your side hustle. It could be early mornings, evenings, or weekends. Prioritize tasks and create a schedule to ensure you are making consistent progress toward your goals.
Be very intentional to maximize on the time that you are off-duty. It is also essential to ensure that the side hustle don’t minimize your concentration and efforts in your full-time jobs. Have some disciplines to manage both side hustle and full-time job without compromising on each other. Minimize calls related to your side hustle while performing your task as mandated by your employer. Also avoid the scenarios that would see your side hustle cooperating with your primary job. The amount of time you devote to your side hustle will depend on your goals and the nature of your project.
To start, try dedicating a few hours each week and increase or decrease your time commitment based on progress and demand. It is important to remember that side hustles usually require significant time and energy, especially in the initial stages.
Unlike regular 8 to 5 jobs, starting a side hustle requires you to also be very creative and come up with a unique idea that identifies a market gap and turns it into a business
Justus Kimani
Start Small and Scale Gradually
Begin your side hustle on a small scale to test the waters and gain experience. It’s critical to start with manageable commitments that won’t overwhelm you. As you gain traction and confidence, gradually expand your operations, invest more time, and explore new opportunities. Be open to learning from your experiences and adapting your strategy. Starting a side gig requires dedication, perseverance, and a willingness to learn. It may take time to generate substantial income, so be patient and stay focused on your goals.
Turning your side hustle to a full-time job?
It is possible that you can turn your side hustle into a full-time job. However, there are some things that you must consider before making any major changes. First, assess your financial situation. Consider the amount of money you need to make to support yourself and any family members that rely on you financially. Then, calculate how much you currently earn from your side hustle and consider if that income is in line with what you would need to support yourself should you transition to a full-time entrepreneurship venture.
Starting a side hustle offers a great way to revamp your financial shape, as it allows you to diversify and also grow your income. Therefore, you have to think about something that you can do at the side while working on your full-time job regardless of how secure and well-paying your job appears to be since a lot can change within a minute.
