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Reach out to them in LinkedIn communities, listen to podcasts focused on starting a business in a particular niche (you can find them through ListenNotes), or attend free online events in the industry where you can network and ask questions. The best way to get a sense of what they are is to speak with people running similar types of businesses. Even if you didn't pick the right business out of the starting gate, consider what you've learned an investment in your own education as an entrepreneur one that you will never get by simply reading about it or watching YouTube videos.Д®very side hustle has different start-up costs. Once you've done a test run, you'll know very quickly what it's like to run the side hustle and if you want to continue with it. The advantage of this model is it doesn't require substantial start-up costs. Another option is a drop-ship model, where you advertise your products on social media or your own website and take orders and send them to a manufacturer who takes a cut in price and sends them out, paying you a portion of each sale. Some new ecommerce entrepreneurs will create a horse race between several products to see which one sells, discount the losers and reinvest in the most popular. For a personal service, like SAT tutoring, posting in an ad in community Facebook groups that allow it can be a good way to spread the word.ДЇor those starting a product-based business, like an ecommerce store, try producing or ordering a small amount of inventory, (there are many ecommerce-oriented websites that can show you the ropes,) and putting up a small store on a site such as Amazon, Etsy or eBay.

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If you're selling a professional service, put up a profile freelance marketplaces such as Upwork, Freelance or Fiverr.

IS ROCKET INSTAGRAM PRO WORTH TRIAL

Once you find an option you like - whether it's freelance blogging, selling hand-knit hats or helping people declutter their garage - do a trial run.

Checking out industry-specific market research reports can help you get a sense of the requirements.

Businesses that require inventory will cost more to start than those that don't. If you'll be doing freelance work in your field, it may not take much time to ramp up, but if you're venturing into a brand new field, or one that requires a credential, like personal fitness training, it will take longer to get going. It's also important to consider how much time and money you're willing to put into a side hustle. It shows there's demand in the marketplace. One question that can help you come up with ideas: What are you the go-to person for at work? In your personal life? If other people consistently turn to you for help with something, whether it's promoting events, doing their hair and makeup, helping them learn new technology or baking gluten-free desserts, that's valuable information when looking for a side hustle. You'll be more motivated to run a side business if it's something that you're good at, you enjoy and there are enough customers to make it worth your time. Type side hustle into any search engine and you'll find many lists of options.ДЄs with any business, taking stock of your skills, talents and capabilities-including those you use in your life outside of work-can point you in the right direction. There are many options: doing freelance projects in your main career, building an ecommerce store around one of your outside interests, public speaking, providing personal service like home organizing, making birthday cakes for people in your community, you name it. Not to mention a side business can be the best way to get a taste of a future career you might want to ramp up later. If you make purchases for the business, you may be eligible for tax deductions. For the groups hit hardest by job loss during the pandemic - women, people of color and older workers - depending on a job as your sole source of income is downright risky right now.Д®ven if you aren't worried about job loss, a side hustle can be a great source of extra income to pay down debt, save money and invest. That's one reason 56% of Americans said they'd be more secure working for themselves than in a traditional job in 2020, up from 32% in 2011, according to the State of Independence Report by MBO Partners, a provider of back-office services to independent workers. Even people in seemingly secure public sector jobs have been hit with furloughs and layoffs since Covid-19 struck. With the economy shaky, no one can have too much income diversity. Starting a side business is one of the smartest financial moves you can make right now.

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