How to Start a Side Hustle Quickly

Text of my newsletter from 23rd August.

Last week I described how the business I ended up starting was completely different from the one I originally imagined I would start.

One of the reasons was because I had been thinking about self-employment for years.

But what if you don’t have years?

If you find yourself needing to get something going quickly, there are platforms that can give you a great base from which to start.

But I do recommend you plan ahead to avoid finding yourself in that position – it creates a high level of stress, and risks leading you into something that’s not suitable, or to your liking.

That’s why I’ve always recommended starting something on the side, while you’re still employed. You can build it up slowly to see whether it flies, and if it’s what you want.

Today’s technology enables anyone, of any age, to start a business or, at least, to make money on the side, with minimal start-up costs.

And you can do that anywhere, at any time.

From blogging or online tutoring, all the way through to setting up and operating a full-blown eCommerce business – these are opportunities that did not exist just 30 years ago.

And they can all be started on the side.

Fiverr is one of those platforms that can give you a base if you need to get something going quickly.

The second article I’ve linked to this week is an interview with someone who moved to New York City, quit her job within the first month, and needed to cover her rent.

So she signed up with Fiverr, initially earning $5 a gig. Now, some years later, she has earned more than 7 figures. She describes what she did and how to best use the platform.

This week’s links

In addition to that interview, I’ve linked this week to an article that lists 100 ways Boomers can earn money on line, one on how to create a structure for working from home that helps your productivity, and one on how to find grants to fund your start up.

Best places for Boomers to earn online

A generation ago, retirement did not include cell phones, computers, WiFi, social media, remote working, or portable incomes. But with the rapid development of all these technologies, we can now earn as much or as little as we want, from wherever we want.

Gigs like proof-reading, copywriting, photography, tutoring and countless others, are great ways to earn a part-time income that you could potentially grow into a full time income.

This article lists 100 ways to earn money online, broken down into 12 sections, with a list of useful platforms and websites that will help you get started in each:

100 best places for Boomers to earn online

How to build a freelance income on Fiverr

The previous article included a section on freelancing, in which platforms like Fiverr and Upwork were referred to and listed.

In this article, Jeff Opdyke, himself a freelancer on Fiverr, interviews Alex Fasulo on how she has built up her Fiverr business.

Alex started earning $5 a gig, but has now earned more than 7 figures over the past several years, doing freelance work on Fiverr.

In this interview, she describes in detail how she got started and how to use the Fiverr platform to get the best results.

If you need to get something going quickly, or you like the idea of freelancing, where you control how much you want to do, I do recommend this:

How to become a freelancer on Fiverr

How to streamline your work from home day

I mentioned in a previous newsletter how I needed to create a routine when I first started my business.

Creating that routine instantly improved my productivity and reduced the stress that came from the feeling of being pulled in different directions.

In this article Sophie Turton goes through 4 things you can do to create a structure that you can work within and improve your productivity:

How to streamline your work day

Small business grants for women

I used my savings to fund my business initially, but many people don’t want to do that.

There are several ways to raise capital for your start up, including loans from banks, angel investors, family members, business support schemes and so on.

There are also grants – which don’t have to be repaid.

This article goes through 12 organisations that give grants to small businesses.

These are US-based organisations, focusing on US-based small businesses, but your jurisdiction will have similar opportunities. You just need to search for them.

Sources of small business grants

Fun flashback

The Walk of Life, from Dire Straits, was one of the songs we used to play regularly in one of the bands I played in back in the 80s. Since I played the keyboards, this was one of my favourites!

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Cheers,

Martin Malden

Martin Malden
Owner – WealthyDragon

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Website owner: Martin has been working online since 2006 and focuses on two areas: 1) affiliate marketing and 2) designing and building websites based on WordPress. He has his own WordPress agency, and serves clients in Hong Kong, Australia and the UK.