4 Side Hustles That Can Replace Your Day Job
If ever there was a time to fulfill any extra income aspirations, then now would be it. The world is in the grasp of a second wave pandemic, more people are working from home, and traditional models of working are being refined and even reinvented. The technological landscape is rife with possibilities and ripe for the picking! The playing fields are more even thanks to the incredible proliferation of smartphone technology – one can literally run an online business from the snug comfort of one’s phone. Whether you’ve managed to retain your job during these times, or have grown weary of the mechanical and robotic nature of the 9 to 5 grind, or you’re no longer employed, you can certainly do with a side hustle. With all this in mind, the question then becomes: what is the best side hustle for you?
Things to consider
Before electing to delve into the world of the side hustle, it’s important to do some serious self-reflection and ascertain what it is exactly you’d like to do. If you can’t put your finger on it, at least think and make a list of possibilities, thereby narrowing it all down to a bunch of viable options. And rest assured, there are many out there, and whichever one you elect can be successful if you have the DCP (Discipline. Consistency. Patience.). Aspirations are also important; you need to try and project into the future. In other words, ask yourself where you’d like to end up by way of your side hustle. Do you want to pay off some debt? Buy a new house? Diversify your business portfolio? Get your hands on that expensive car? Or would you like to simply live more comfortably and afford yourself financial breathing room?
4 side hustles that could change your life
Property: Land is the one thing people will always need more of and it’s a seriously lucrative business to be in. If you’re already a home owner, then a second bond on your current dwelling to procure another would be the way forward. Alternatively, if you’ve got some decent savings or are able to qualify for a loan at a rate that won’t put the squeeze on you, then this could be the start of an impressive property portfolio. Finally, you could also become a real estate agent in your spare time. Your weekends might be taken up by showing off some houses, but at the end of the day there’s extra profit to be had.
Consulting: One of the benefits of honing your skill-set is that it allows you to to become proficient at it, and once you’re proficient, what’s to stop you from consulting? In other words, why not offer your range of vocational skills within a private capacity? You could set up a website – something that is incredibly easy to do these days. Once you’ve done that, you could setup the necessary social media platforms, and let’s not forget about the good old word of mouth – there’s a lot to be said for providing a good service that leads to you being mentioned to others.
CDF (Contract For Difference) Trading: This is one that’s not as established as the prior two, but it’s been around for quite a while. However, in the past it was limited to those big shots on Wall Street. Nowadays anyone can get an idea of what CDF trading looks like thanks in part to the internet, and to the availability of trading software. CDF trading allows you the ability to speculate on the price movement on a slew of markets. Everything from bonds and shares to currencies, commodities and indices are available. These trades can be done on your PC or your smartphone.
Dropshipping: The internet has changed the way we do business forever. E-Commerce is an industry valued in the trillions. Why not make a way for yourself to become part of the this industry by way of Dropshipping? The great thing about this type of online business is that it requires very little start-up capital and could end up providing you with an incredibly lucrative side hustle. Quite simply put, Dropshipping is the process of selling items online to the general public without actually having to stock those items. You’d basically be creating a channel through which the buyer/customer could acquire goods. Once an order is placed, you pass the order to the stockist, they make sure it gets delivered to the customer, and you get your cut of the sale.