There are many reasons why taking up a side hustle is a good idea. This post focuses on lucrative side hustles you can start right now with little or no start-up capital and no specialized skillset.
One of the most stressful parts of ‘adulting’ is the overwhelming bill-paying responsibilities that come with it, which is why a lot of people are taking up a side hustle. At this stage in life, you not only have to worry about just making money but also making enough money to cater for all your needs.
The reason is glaring, to be honest, because, at this point, there are no more handouts coming from parents, siblings, or other family members. Yet, you have a lot of personal responsibilities like feeding, accommodation, and even your new family if you are already married.
The struggle becomes worse if you are an African, and have to deal with what is called ‘black tax’. Black tax refers to the financial pressures placed on children from African descent to take care of their siblings and parents first even before considering themselves. In this light, I think an Ode should be written to the firstborn child in Nigerian families. Everyone needs a side hustle to help with the responsibilities, but if you are a first born child in a Nigerian home, you need it more.
What are Side Hustles?
Side hustles are an additional job a person takes in order to supplement the income at their primary place of work. As the name implies, it is usually done on the side together with a full-time job.
Also called a side gig or side job, people take up a side hustle for different reasons, but most times, it has to do with making an extra income. The amazing thing about side jobs is that unlike full-time employment, you can take up more than one at a time.
Students can also take up side hustles after school hours or during the holidays, to supplement their regular allowance from home. They can take up jobs that do not require a degree and is flexible enough to allow them to study.
Side Hustles You Can Start Immediately
Attaining financial freedom is one of the best things that can happen to a person, and having a side hustle is one of the ways people are able to get to this point. On that note, I have highlighted below, some of the top side-hustles you can start right now.
This is a great side hustle for people who want to buy and sell goods online but are scared of starting due to fear of not being able to sell what they have in stock. With drop shipping, you don’t have to own a warehouse or stock goods. You only have to purchase the goods when customers place an order, then you have it shipped directly to them.
Let’s break this down a little bit more, shall we? So, here’s how it works.
Dropshipper Alex opens an online store and registers with one or more suppliers. Alex promotes the goods sold by his suppliers on his online store by adding his desired profit to the price. Customer A places an order on Alex’s store, then Alex contacts his supplier to purchase the goods.
The supplier sends the goods to Customer A, and the order is fulfilled. Alex had no direct contact with the goods, didn’t have to deal with logistics issues, and has been able to make a profit.
Ridesharing is becoming more popular in Nigeria with the increasing popularity of Uber, Bolt (Taxify), and other ride-sharing platforms. Car owners can register their cars and use it to earn some extra cash from driving commuters or give it up to drivers who will, in turn, give them a share of their earnings.
This is a great side hustle you can do on weekends or after work hours. Need some quick cash to settle a debt or pay some bills? With just a few hours of driving people on ride-sharing platforms, you can hit your financial goal.
One of the amazing things about the ridesharing business is that it gives room for flexible work hours. Unlike drop shipping that may require you to engage in consistent marketing or run ads to get customers, you can always log in to the ride-sharing platform at any time that suits you.
Online freelancing is a popular side hustle right now because it is flexible and requires little or no initial investment. As a freelancer, you can also earn money in foreign currencies from the comfort of your home with just a PC and an internet connection.
You can leverage your skills to get clients from different parts of the world. Some people even take freelancing as a full-time job and make money from working on projects from different clients.
It is easy to decide to become a freelance writer, software developer, data scientist, or whatever profession of your choice. But the real hard work comes with trying to get clients.
So, how do you get clients as a freelancer?
- Register on freelance websites like Freelancer, Fiverr, Upwork, etc.
- Cold-calling or messaging.
- Search for part-time remote jobs on sites like Indeed and Glassdoor.
- Friends and family referrals.
This is one of the traditional ways of making money online and it is not looking like it is going extinct anytime soon. With the exponential growth of digital, there are now more platforms for you to establish a blog.
You can leverage on Facebook, Twitter, Instagram, Youtube, and other social media platforms to promote your content. Blogging doesn’t have to be limited to writing alone – there’s now podcast and vodcast.
With blogging, you require patience. It takes a while to build a fan base, generate enough traffic to your blog, and make money.
Blogs can be monetized through affiliate link clicks, ads, and sponsorship.
Choosing The Best Side Hustle For You
Now that you have knowledge about the side hustles you can start right now to make some extra money, the next step is choosing the one that works best for you. Follow these tips when choosing a side hustle.
- Choose a side-hustle you truly enjoy. The most fulfilling and rewarding side-hustles begin from hobbies and interests. Successful businesses are built from the founder’s passions.
- Choose a side hustle that has the right balance with your main job. This means your side hustle must not conflict with your main job and jeopardize your primary source of income. For instance, if you are working a 9 to 5 job, you shouldn’t take a side hustle that will require you to be available for most of the day.
Your side hustle should be a job you can do after work hours or weekends if you don’t work on weekends. Don’t make the mistake of running your side-hustle at a time that will interfere with your primary job.
Please don’t do that. It might cost you your job.
- Do you possess the skills to make money doing your side-hustle? If yes, go ahead.
As a content writer, you have no business taking up online gigs that require graphics designing skills. Well, unless you plan to be a middleman and outsource the job to a professional. It is best practice to let your client be aware of this.
- Does it make enough money? The main aim of having a side hustle is to make more money in the first place. So, if your side hustle can’t fulfill this, you have no business doing it.
Have options, evaluate them, then choose the one you think is right for you.
This is by no means an exhaustive list. There’s babysitting, tutoring, translating, proofreading, renting out space in your home, managing social media accounts and so much more.
One thing you should note is that life rewards those who know how to hustle and hustle hard.