7 ways to start a side business while working

Whether you’re working from home or commuting, you might find yourself with some spare time that you might not know how to use. Or you might know how to use it, but not in the best way, or at least in a way that makes you money. More money is never a bad thing is it, and starting a side business while hanging on to your full time or freelance job can be an excellent way of exploring your ambitions and boosting your income.

Not an easy task for sure, managing multiple businesses and endeavours requires a lot of planning, skillful time management and dedication to the cause. There are some “strategies” that could help you embark on a successful journey without having your new business drive you up the wall, and without risking your current job.

Identify your field and expertise

It might not always be possible to work in a field you feel passionate for, but why not try? Choosing a venture that aligns with your passions, hobbies and expertise might turn out to be viable businesses, or a total waste of time, but transforming something you have skills and knowledge into a side hustle will bring many advantages compared to starting from zero. If you love gardening you might start a gardening blog, write a gardening book or maybe experiment in creating unique plants by crossbreeding your plants and selling the seeds. Capitalising on your strengths will help you increase the chances of long-term success.

Do your research

Before jumping into your new idea, and turning it into a side business, it is essential to validate it. Do your market research to understand who your target audience is, what they are looking for, what’s the competition like, what is the demand and what’s the capital and the material resources you might need to buy or rent to offer this product or service. Looking for gaps in the market might take longer than just diving into it. Take advice from friends, family, customers or consider the idea of hiring a marketing or business advisor to help you refine your ideas and guide you into achieving your best potential without falling for traps such as emotional investing and impulsive buying.

Step by step

Maybe you’re fed up with your job, maybe you’re looking for a way out or a way to feel energised after getting sick of your daily routine. Either way, it would be more prudent to start small and gradually build up and scale your side business. Having a small audience at first is a great way to start, you’ll be able to build deeper connections with clients and to deliver a high quality experience, all while learning and gathering tips and advice from your close circle of clients. A slow approach will allow you to “test the water” before diving in, minimising loss and allowing you to decide if the idea is worth committing time and resources into.

Leverage online platforms and networks

Whichever field you choose, you’ll need to advertise yourself on online platforms in order to succeed. In this day and age there’s almost no way of doing it without. Establishing an online presence through social media and online platforms is key for small businesses. Shopify, Etsy, Ebay, Instagram and even Facebook Market are a great starting point to reach a broader customer base. Engaging with the community and the networks you’re interested in working with takes time and good social skills, but the time and energy you put into gaining exposure will pay for itself.

Let’s go through some examples of side businesses:

Freelancing

Virtually any skill is freelanceable. Writing, designing, programming, marketing, fitness training, yoga teaching, postering, painting and the list goes on. Leveraging your abilities online can be done both by reaching out to people “in real life” and online. There are tons of websites where freelancers find weekly, daily or monthly gigs; Upwork, Fiver and even Linkedin are a great place to start.
Build a portfolio and your reputation will follow.

Rental services

This option requires more assets than skills, and might thus not be available for most people. Renting your car, room, house and even equipment is an easy way to capitalise on things you already own. Passive income for minimal effort. (Here are 6 beginner friendly investment ideas)

Pet sitting and walking

If you love animals, and walking, you might consider pet sitting, fostering or picking up dog walking as a side business. There are platforms online and Facebook groups dedicated to putting animal owners in contact with sitters, and you’ll be able to set your own rates and create a schedule that works well with your main job, all while getting some exercise.

Building a side business while still working full-time can be an exciting way to create a side income and explore your interests. If it’s your first time, planning and having a support group that can help you and give you advice will be crucial to your long-term success. With dedication and a cautious approach, you can turn your hobbies into a thriving venture, and why not, it might even lead you to switch careers.