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Your Revenue Streams: Deciding On Your Side Hustle

Your-Revenue-Streams

After turning to a ton of blog posts and books about finding the perfect side hustle, I found many options that turned over little profit…online surveys, the vague “consulting” tagline, virtual assisting and crafting. So once I found the perfect fit, I was able to put my skills to use and earn more money on the side. I surveyed the landscape, swore off retail forever and secured myself flexible hours. Keep in mind, this took many weeks of contemplation before I acted. I wanted to make sure that my efforts were not in vain and I would yield great results. And then, I went for it. Almost every other week I was taking on a new venture and it was lots of fun too! Some of them fell into my lap while others I sought out.

Published a book

This seems extreme, right? With a bit of organization, you are able to brainstorm, draft, edit, publish and promote your own eBook. Through the wonderful world of Amazon, I learned that I can find my niche in promoting my expertise in college success. So far I’ve sold books with minimal promotion. That’s a nice little stream of income for a product I only have to develop once!

Here are my quick tips on writing your own eBook:

  • Identify a topic you’re passionate about.
  • Write an outline for each chapter you plan to write, like a research paper.
  • Draft the paper, write whatever comes to mind straight through.
  • Proofread like crazy and solicit help from talented friends.
  • Sign up for Amazon’s publishing service and submit your manuscript.
  • Create your cover and publish!
  • Promote the heck out of your book! To your appropriate audience of course…

Poshmark

Poshmark is a great fashion resale app. You are able to purchase items by brand or simply browse another person’s “closet”. The epitome of passive income, I spent a few hours taking nice pictures and creating clever descriptions of a bunch of items. After posting I received hundreds of shares and two purchases in one week. Let the app work it’s magic!

Interested in Poshmark?

  • Take a look at other photos and find the right angle for your items.
  • Post tons of items at once with great descriptions. Include things like “smoke-free home, “pet-hair free”.
  • Share your items regularly and adjust prices to see what people will jump for.
  • Ship your items with a thank you note and nice tissue paper for high reviews.

Consulting

Who would have thought that consulting would work out for me?! I was actually recommended and invited to assist with choreography for an upcoming an event. Sometimes it’s good to just keep your network fresh so that you’re top of mind for opportunities like this. Although I am not getting paid for this on a consistent basis, I will receive a one-time payment at the end of the event. Additionally, this may open up opportunities for me in other areas of entertainment (my passion).

Positioning Yourself for Opportunities:

  • Keep in touch with people you’ve worked with in the past.
  • Let people know what you’re working on, they may be able to connect you with others
  • Be willing to shift your schedule to make things work

Your Revenue

Obviously, these are the revenue streams that I’ve found to work for me recently. What you decide to do will be solely based on your expertise, passion, and willingness. Here are a few guiding questions to determining your revenue streams. Research the viability of the idea and what you’ll need to do to get there.

Your Revenue Streams Brainstorm Checklist

What you decide to do will be solely based on your expertise, passion, and willingness. Click To Tweet

Once you’ve successfully found your potential revenue stream, try to find another low maintenance option, or dive into the world of said revenue stream to learn how it all works. Next week we will discuss how to take that idea and build an appealing and consistent brand.

Already raking in cash from your side hustle? Download this spreadsheet to keep track of all that extra cash!

Next post in the series, Your Branding, check it out now!