Harness the Gig Economy: Business Ideas That Can Start as Side Jobs
Do you want to start a side hustle that has the potential to become a full-time business? It may be possible. Check out some business ideas to explore.
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You may consider getting a side hustle to increase your earnings. Many unique jobs in the gig economy can help you boost your income while you learn more and expand your skills. But it doesn't have to remain a part-time venture. You may like your side hustle so much that you make it a business. Here are a few side gigs that can turn into a full-time business.
Virtual assistant
Many business owners need help managing their day-to-day operations, and virtual assistants can provide that assistance. You may thrive in a virtual assistant role if you have various skills and like helping others. The best part is that you can do this kind of work from home.
What does a virtual assistant do? You may be asked to respond to emails, set up appointments, manage social media accounts, and prepare presentations. This is an excellent side hustle idea that you can transform into a full-time business as you grow your skills and get more clients.
Freelance writer
Freelance writing is another side gig that can transition into a full-time business. Many businesses hire freelance writers. You might be asked to create website content, write blog posts, or draft press releases in this gig. As a freelance writer, you can exercise your creative skills while helping businesses market their offerings.
Many freelance writers start their journey writing part-time. This is how I became a full-time freelance writer. I enjoyed my experience so much that I decided to do it full-time. Now, I make a comfortable living doing something that brings me joy.
Starting as a part-time writer can give you time to grow. You'll need time to find clients, determine what writing work suits you, and price your services appropriately for the effort involved. But it's possible to make a living via a freelance writing business.
Pet sitting
If you're looking for a hands-on side business and enjoy animals, pet sitting may be a good fit for you. There are likely many people in your neighborhood who could use help watching their pets when they go out of town.
Local pet owners also hire people to walk their dogs when they're away from home. With time and effort, this gig can go from part-time to full-time. You can research the need for services in your area by looking at neighborhood social media groups.
You'll likely have more success making this a full-time venture by getting hired directly by clients. You'll lose money on fees when you use apps like Rover or Wag. But you can avoid added fees and price your services exactly as you see fit when you manage your work and clients yourself.
Three tips for best success
As you navigate your freelance journey and take steps to make your gig a full-time business, here are some tips that can help you be more successful.
1. Set your rates high
You may be tempted to set your prices low when you're new. But working for cheap rates can cause added stress and make you resent the work you've taken on. Don't undersell your services.
If you need help pricing your work, research online to see what other freelancers charge. If you hope to make your side job a full-time business, you need to charge rates that will allow you to afford your living expenses. Otherwise, you may not be able to stay in business.
2. Set aside money for taxes
Freelancers are self-employed workers. That means you're responsible for taking taxes out of your pay. I recommend automating your savings so money is automatically transferred into your savings account every few weeks. This way, you don't forget to save money to cover your tax bill.
By paying your taxes every quarter, you'll avoid IRS penalties. Automating your savings will ensure you have the money saved before the next quarterly due date arrives. You can open a business bank account to separate your personal and business finances.
3. Use software to stay organized
Need help running your business more effectively? Don't overlook business software. You can use solutions like accounting software and project management software to stay organized. Software like this can save you time and allow you to focus more energy on other essential business matters. Check out our list of the best project management software to learn more.
If you remain committed to your business goals, you can make your side job a full-time endeavor. Taking small steps every day can make a big difference and get you closer to your end goal.
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