The 3 Best Side Hustles That Can Be Turned Into A Business
Across the globe, countless people are looking for ways to supplement their incomes. They are turning to side hustles to make that extra money. Once the money starts coming in, they realize that many side hustles have the potential to evolve into full-blown businesses.
Whether you’re a creative soul, a tech enthusiast, or someone with insights to share, there’s a lot of opportunities if you want to grow a business.If you’ve ever imagined escaping the 9-to-5 grind and crafting a business tailored to your talents, then you just need to understand the possibilities. In this article, we will go over several of the best side hustles that can be turned into a business.
1 – Sell crafts and art on Etsy
Etsy is a global online marketplace, uniquely tailored for artists, crafters, and vintage enthusiasts. Etsy offers sellers access to a huge audience that appreciates and actively seeks out handcrafted and vintage items.
The variety of products one can sell on Etsy is enormous, but they mostly revolve around unique, creative items. Handmade crafts, including jewelry, home decor, and candles, are some of the most popular categories that shoppers flock to.
Transitioning from a side hustle on Etsy to a full-time commitment requires strategic planning. Efficiently managing inventory and operations ensures you can meet customer demands without overwhelming yourself. Consider hiring help or outsourcing specific tasks, like photography or a Chicago courier for shipping. This allows you to focus on product development and customer service.
2 – Freelancing
Being a freelancer might seem like a dead end street. However, with the right plan, it can turn into a thriving business.
The first step is to create a portfolio and grow a client list. This isn’t just a collection of your previous works. It’s a testament to your abilities and gives clients an idea of what you bring to the table.
Once you have established yourself as the go’to person in your field, it is important to start growing. This is where retainer contracts come into play. They provide a sense of regularity in the otherwise unpredictable freelance world.
And for those who want bigger things, evolving into an agency model might be the next logical step. Here, you’re not just offering your services but potentially leading a team, providing solutions at a larger scale, and turning your freelance venture into a full-fledged business.
3 – Affiliate marketing
Affiliate marketing is a marketing strategy where people earn commissions for promoting another company’s products or services. Picture it as a partnership between a marketer and a company. The company provides products or services, and the marketer promotes them. Every time a sale occurs through the marketer’s unique referral link, they earn a commission.
A well-optimized blog or website allows you to write in-depth reviews, create tutorials, or share personal experiences related to the products. Social media, on the other hand, provides a more interactive platform. Through engaging posts, stories, or even live sessions, marketers can reach and influence a broad audience in real-time.