In the age of productivity and entrepreneurship, many of us wonder: ‘Should I let go of my full-time job and become self-employed?’ If you have that thought at the back of your mind, but still don’t feel like quitting your full-time job, starting a side hustle might be a good choice. That’s when Side Hustle Stack comes in!
sidehustlestack.co is a directory of platforms for users to find platform-based work online or start their side hustle.
In this guide, our goal is to show you how this tool can help you define your business idea, navigate platforms that can serve to undertake these ideas and learn how to start a profitable business plan!
What Is a Side Hustle Exactly?
A side hustle is a paid job or activity, often freelance or entrepreneurial. It’s usually done alongside a full-time job with the main goal of making some extra income.
The term “side hustle” has been around since the early 2000s. However, it has recently become more common, with notable growth in 2021.
The search for “side hustle” on search engines has risen more than a 1,000% in the last six years.
A side hustle can be a hobby-turned-job or something more complex like starting your own business. To run a side hustle, you don’t have to quit your main job! But you’ll need to learn how to make time for your side hustle if you’re planning to remain full-time employed.
But it can be a great way to earn extra money while doing something you enjoy. For this reason, it’s often a passion project as well.
According to Money Scoop’s analysis of data provided by the US Bureau of Labor Statistics, hard work isn’t paying off.
The productivity-pay gap has grown continuously since the 1950s, meaning employees in relationships of dependence are getting less income than ever. Meanwhile, stakeholders and executives are cashing in.
In this context, 75% of millennials are looking for ways to make more money (via a Bank of America survey). While 34% are switching to higher-paying jobs, almost 26% are taking on a second job.
This situation shows us that a large number of young people are looking for a side hustle or part-time job. Not only to do something they enjoy but also to feel that their effort is worthwhile and recognized.
However, one of the most important reasons is the need to have more money to pay the bills or to save for a better future.
How to Find an Idea That Works for You
The concept behind Side Hustle Stack is simple. It’s an online platform that helps users find their next business idea by searching through hundreds of categories and subcategories, from real estate to gardening, from dogsitting to tutoring.
The tool then uses this information to provide a list of potential businesses compatible with your skills and interests.
This last item’s crucial when finding a side hustle idea that works for you. Exploring your skills, interests, and passions is essential. However, it’s also where most people get tripped up when trying to find a new side-hustle idea — they forget about themselves entirely!
If you’re not sure about what kind of side hustle idea would work well for you, take some time to think about yourself and what makes you happy.
What are your hobbies? What do you enjoy doing on the weekends? Which skills could you monetize through an online course? These are some questions that could help you get started!
Find your target audience
Using Side Hustle Stack to Start a Small Business
Side Hustle Stack is a powerful tool that can help you start your own business and find work opportunities. It will support you in finding appropriate ideas, creating a business plan, and building your business from scratch.
Here are some examples of what Side Hustle Stack can do for you:
- Find profitable side hustle ideas in your industry.
- Discover the best side hustle tools to build your idea.
- Create a marketing plan for your new side hustle business.
- Spread the word about your new business.
Having said so, let’s explore how to use the platform to give structure to your business idea 👇
1. Define your idea & the problem it solves
When it comes to building a business, there are no magic formulas. However, there are some tips that one can apply to make this process more enjoyable and less stressful.
One of the most frequent tips among entrepreneurs is to find a problem and develop a product that tries to solve it as best as possible. However, an idea can also be born the other way around: first thinking about the solution and then analyzing the problem it solves.
There is no right order that guarantees success. However, you must have a precise pain point we’re trying to solve and a potential solution to that problem (idea) for it to develop into an MVP.
2. Choose your stack
Once you have your idea, it’s time to navigate the categories of Side Hustle Stack and find the right tools to help you create your idea (stack).
The platform’s “Home” is divided into two sections: Work Categories & Featured Platforms. With +25 sections, you’ll be able to find job opportunities according to your niche of choice (e.g. technology, podcast, gaming, or content creation).
In addition, you can see the cards of each of the tools listed on the platform to learn more about each of them. In each card, you’ll find reviews, equipment needed to work there, how many people are making money on the platform, average pay, and other helpful links.
When choosing your stack, there are some things you should take into account. Here are some strategies when choosing which platforms you’ll use to build your product:
- Compare prices: when choosing the best stack for your small business, you should consider the cost of each option. Some platforms cost more than others but might offer more functionality or better support.
- Check out the product’s reviews: don’t just go with what sounds good on paper! Read reviews online and check how other people have used the software before deciding which one is right for you.
- Check out the platform’s community: many open-source projects have large communities behind them that can help you if anything goes wrong while using their software. Take advantage of these resources whenever possible!
- Look for free trials & versions of paid software and services: platforms offer limited-time offers or discounts when signing up for a new service or software package. If you’re testing something before making a decision, there’s no harm in trying out a free version just in case it turns out not to be what you need.
3. Think about scalability
When you’re just starting, it’s easy to get caught up in the moment and choose the first tools that come to mind, or even the ones that feel most aesthetically pleasing. However, you’ll need to think about the future and how your business might scale.
Some software platforms are great for small businesses but might not be able to handle a larger volume of users or transactions.
For example, if your side hustle idea is a paid subscription community, you can start with a tool that allows you to add up to 50 members. But if you then need to add more members you might need to change the platform.
Last but not least, always keep your audience in mind. You’ll need to learn how to connect with early adopters to receive honest feedback and improve your products.