If Your Day Job Isn’t Paying Enough, These 5 Side Hustles Will Compliment It

Interestingly, nobody admits that their day job is paying enough for them not to consider making extra bucks from another source. Motivational speakers and business gurus don’t make it easier. They would tell you a single income source is like sitting on a keg of gun powder, the repercussion would be brutal. And they are right.

The problem with one source of income is that if something goes wrong with it, and don’t say nothing can go wrong, you could be stranded. Even if you have a sizable amount stashed in savings, it’s just a matter of time before you exhaust it if you don’t get another gainful employment fast enough.

If anything, the COVID-19 pandemic has shown that your means of livelihood could come crashing in your face and you may not be able to salvage it. The situation has left many stranded and depressed as we write. 

However, while it’s advisable to have a side gig, you must bear in mind that your day job is still your primary income, so you cannot afford to start a business that could cost you that source – avoid conflict of interest. Thankfully, the internet has made everything easy. Business processes have been simplified and it has created opportunities that we did not think were possible before now. 

We have collated five flexible and lucrative small businesses that you could adopt as a side hustle. If these ideas coincide with the type of business your day job does, please don’t consider it. You don’t want to be a competitor to your employer.

eCommerce

As you would already know, eCommerce is the buying and selling of goods or services using the internet. This is easily the best side business you can do as you don’t have to be physically present to run the day-to-day operations. Different business models can be adopted for this type of business though. 

The first step to starting an eCommerce business is to find the right product you want to sell. To determine if a product is right, you must note the following pointers: it must be a niche product? It must be in high demand, it must not be too fragile, it must not be too heavy, it should be easy to source in your local market (if you don’t want to import it), the product should be of good quality, you should be able to sell at least 50 percent profit margin (per unit) without customers perceiving it as too expensive (pricing decision also depends on your target market segment – whether high-income earners, mid-income earners or low-income earners).

After settling for a product, purchase in small quantity for now to test the market. Then look for one of the trusted logistics companies that would help you deliver the products to customers where ever they are. These delivery firms can do pickups and delivery for you without any hassles, provided you find a reliable logistics company. Once the delivery is taken care of, start running promotions on social media. We recommend that you target customers in the city you live in for a start to make the delivery process less cumbersome.

However, there is a better and easier model you can adopt if you don’t want to worry about order fulfillment at all. You can set up a store (it’s free) on one of the big eCommerce marketplaces such as Jumia and Konga if you live in Africa. These platforms can handle everything for you – from storing your goods, order fulfillment, promotions and nationwide/international delivery. All you might have to do is purchase your products and list them on their website.

ALSO READ: 5 Prolific Business Coaches Every Entrepreneur Should Follow on Social Media

Graphics, UX Design/Web Development

If you are not already a graphics or User Experience (UX) designer, or a web developer, it means you might have to learn the skills. And the good thing is, these skills are universally relevant. As more people, businesses and religious bodies are now in a race for online visibility, they need graphics, websites and other online tools to achieve success. All you need for this venture is a good laptop and the know-how, and you’re in business. You don’t even have to try so hard before you land your first client; the demand for these services is high. You can even earn in foreign currencies with these skills. There are online platforms like Fiverr, Upwork among others where you will find clients all over the world who are ready to commission you for a project.

Copywriting/Content Marketing

If you already know how to write, you are a step ahead. And if you don’t, you can learn. 

It is easy to think copywriting and content marketing is the same but they are not, although there are a lot of similarities between the two. The purpose of copywriting is to sell a product or service and to increase brand awareness through engaging and convincing text. It fuses the product and the persona of a brand to create branding while content marketing is the art of creating strategic content that informs, educates or entertains. It also communicates the value of a brand in a way that attracts audiences and potential customers. Plus, content marketing has a long-term goal than copywriting.

The two skills are lucrative and will be perfect for someone looking for a side gig. But first, you must master them before anyone can pay for your service.

Digital Marketing

Everybody needs a digital marketer these days. Any business or individuals who want to succeed online need a digital marketing expert for Search Engine Optimizing (SEO), paid advertising and more. Digital marketers ensure that businesses are easily found by their target audience and help them drive traffic to their websites. You can offer these services to many companies, especially SMEs, who don’t have in-house digital marketers.

Sell Your Brain

This is probably the coolest and easiest way to create a side income that will give you all the time in the world to focus on other things, like your day job. All you have to do is teach people a popular-demand skill you already have, break it down in a way that would be easy to understand and have it packaged as an audio or video course. It could also be valuable information or knowledge that is relevant in today’s economy. Once the product is packaged, start running social media promotions for it and you will be amazed at how much revenue it will generate. Plus, you will continue to make money off it for as long as people need that information. With this type of hustle, you don’t have to worry about deliveries because it’s not a physical product.

The question is, what skill or knowledge do you have that can be monetized? And the caveat is, it must be a skill that is currently in high demand, like the four points listed above. There are many more; find it, learn it, master it and start monetizing it.