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How to make the most money with a side business

Although starting a side hustle allows you to pursue interests and hobbies outside of your 9-5, ultimately they are used as a way to monetize those interests and earn extra income.

Many hope their side businesses will grow into full-fledged businesses, but how do you make that financially viable? How can you make the most of your side business?

Here, we’ve rounded up the best tips on how to make the most money from your side business. With commentary from the following professionals…

  • Claire McKeeve – CEO of Talenthouse
  • Michel Zalle – Founder and CEO of YellowBird
  • David Ciccarelli – Founder and CEO of Voices.com
  • Meera Watts – Founder of Siddhi Yoga
  • Lyle Solomon – Senior Counsel at Oak View Law Group
  • Michael Jonca – Community Manager at PhotoAiD

For any questions, comments or features, please contact us directly.

Claire McKeeve

Clare-McKeeve-Talenthouse-CEO

Company: Talent house

Website: https://business.talenthouse.com/

“Over the past two years, we’ve seen a shift in people’s priorities as they spend more time at home, investing time and money in their passion projects and side pursuits. While pursuits secondaries usually provide a side hustle or hobby at no cost, for many the ultimate goal is to turn a side hustle into a full-fledged business, so it’s essential that entrepreneurs think carefully about the platforms they choose to build , to manage and make money from their business.”

“While hustles are a secondary income, it’s important that entrepreneurs choose to work with a platform that meets their financial needs.” Creatives, for example, are poorly served by traditional financial institutions. Therefore, those running a creative side business should look for a platform that gives them the tools to effectively manage their billing and accounting. This will give them both the freedom to focus on creativity and the ability to increase parallel hustle if desired.

“At the same time, it is important to work with a platform that offers well-paid and interesting jobs. Often, the biggest companies offer the highest financial rewards, while other fast-growing companies are renowned for their innovative and forward-thinking approach. It is important for entrepreneurs to check the platform’s client list to ensure that the opportunities that arise will not only pay them well, but help them learn and grow.

“Finally, entrepreneurs should work with a platform that supports the needs of their wider community and business. Some platforms allow entrepreneurs to create their own profile and connect with like-minded people. This can be extremely valuable, both for those finding their feet in an industry and for those preparing and preparing for the future.

Michel Zalle

Michael-Zalle-YellowBird

Company: yellow bird

Website: https://www.goyellowbird.com/

“To make as much money as possible from a side hustle, individuals will want to tap into their most valuable job skills, whether it’s security assessments, graphic design, computer modeling or bookkeeping. L The gig economy is no longer just for delivery drivers and dog walkers. As the Great Resignation drags on, employers have started turning to freelancers and contract workers for high-skilled professional work and they’re ready. to offer a higher salary, flexibility and even insurance in some cases.

“Many professionals will market their side businesses on social media platforms or job boards to find work on a project. But it wastes time and money creating posts, searching for ads, and responding to job postings. Plus, there’s always the question of when and how they’ll be paid.

“To chart your own career path, find the best-paying jobs, and learn new skills, professionals are encouraged to seek out specialized gig-saving platforms that cater to specific industries. The best professional services platforms use artificial intelligence to match an individual’s skills and certifications with specific projects in minutes, then automatically contact the individual to see if they are open for work. One example is YellowBird, which connects risk management and environmental, health and safety professionals with companies in high-risk sectors like construction, manufacturing, mining and the insurance. YellowBird EHS professionals earn an average of $65/hour and can take on or hand over any project without affecting their ability to secure future employment. Unlike other labor platforms, YellowBird goes the extra mile by providing liability insurance, pays workers directly, and does not charge them fees. »

“These days, there are a lot of choices, even LinkedIn has announced that it will enter the market. But not all platforms are the same, so I recommend individuals to try several platforms that offer a wide range of specialized projects, well-paying jobs, remote opportunities and insurance.

David Ciccarelli

David-Ciccarelli-Voices.com-CEO

Company: Voice.com

Website: https://www.voices.com/

“The simple answer is to find something that you really enjoy doing and can imagine yourself pursuing for a year or two, hopefully longer.”

“At first you probably won’t earn enough to cover the rent or the mortgage, but over time you’ll earn more customers who will come back to you month after month, year after year.”

“By focusing on an area of ​​expertise, and an area in which you are not only good at, but also appreciated, you will be able to attract clients who seek your expertise and also allow you to develop a portfolio of work that in turn attracts other clients. In short, success breeds success!

Meera Watts

Meera Watts

Company: Siddhi Yoga

Website: https://www.siddhiyoga.com/

“Saving money and increasing it over time takes a lot of patience and time. Therefore, start investing the money you earn from your side business. But I won’t recommend jumping directly on it. Take advice and lessons from friends or family who have done this in the past. If possible, you can also hire a financial advisor who can manage your money. This way you will be in good hands.

“No matter how much you save, turning it into a big number is a game of time. That’s why the best possible way is to invest in it. This way, you not only increase your savings, but you also save for your future, which will only help you one day.

For any questions, comments or features, please contact us directly.

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Lyle Solomon

Lyle Solomon

Company: Oak View Legal Group

Website: https://www.ovlg.com/attorneys/lyle-david-solomon/

“Working from home has opened up many possibilities for us. Sometimes when the 9 to 5 job just isn’t enough, we turn to the skills we have that can easily provide us with extra money if used correctly.

“To like…”

Independent : “Freelance work is a great way to earn extra money. With freelancing, you can put your skills and creativity to work. Here you can write, paint, and do graphic design or photography. digital art. You can also become a virtual assistant, or you can try to become a consultant to provide information on topics you have deep knowledge of. There are many jobs just waiting out there.

Airbnb: “You can try hosting for Airbnb. Airbnb is a fantastic resource for people who want to rent out extra space or even their entire home. If you need some quick cash, AirBnB gives you a way to create a good side hustle In order to avoid any issues or potential scams, you will be paid 24 hours after a guest checks in. Some people make a living just by renting a room or residences on Airbnb.

Enter wholesale: “If you like the idea of ​​running an online business but want to be more involved in the process, starting an online store through wholesale may be the best way for you to do it. ‘a business model where you buy a lot of stuff in bulk at a low price and then resell it to your customers at a higher price.

Michael Jonca

Michal-Jonca-PhotoAiD

Company: PhotoAiD

Website: https://photoaid.com

“I believe anyone can make money with a side hustle. And by investing time in planning it, you can make the most of it!”

“First, you need to remember that developing your skills is ‘only’ part of maximizing your income with a side hustle. The substantial but often underestimated factor is your ability to sell yourself. Believe me, people judge the book by its cover. If you created a profile on a gig website like Freelancer.com, Upwork, or Fiverr, spend a few hours making it as professional as possible. Create amazing copy, take a good photo and fill in all text boxes. It seems obvious, but most people don’t really care about their profile. What a waste of opportunity!”

“Second, take care of your customers. According to many statistics, acquiring a new customer costs up to five times more than maintaining the current one. Provide them with quality work, respond to messages, and let them know you understand their needs. Remember, you need to care about the customer experience, just like businesses. »

“Third, think economically. The thing is, every hustle takes time and work. Keep an eye on how long a given task takes you and how much you earn during that time. This will give you an idea of ​​the value of your work. Because if, at the same time, you can earn more by doing a different job, why waste your resources doing unprofitable things? »

For any questions, comments or features, please contact us directly.

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