When you think of finding a side hustle, you might picture yourself finding an obscure job as a bike courier three nights a week or maybe even walking your neighborhood dogs. Both of these positions can be fun and pay extremely well depending on who you work for.
There are endless opportunities for part-time, enjoyable, profitable side hustles. However, if you take on any of the following side gigs, you could end up with a new career.
1. Day trading
Day trading is the purchase and sale of a stock, bond, or security all within the same day. Many entrepreneurs are drawn to day trading because it’s fast-paced and risky, but with the right skills, day trading presents a potential for serious profit.
If you’re curious about day trading, RJO Futures published a guide on how day trading works. RJO’s article explains that whether you trade from a large firm or on your own, you’ll need three tools:
- Access to a trade desk. This will give you instant order actions the moment your trades are placed.
- Analytical software. Analytical software will help you identify key indicators to inform your next move.
- Access to news outlets. Day trading – specifically day trading futures – is volatile. Prices move by the second and having access to news outlets will give you a heads up if your market might be affected.
Be aware that if you enjoy day trading and get good, you might want to go full-time. It’s possible to turn day trading into a career, but the learning curve is steep.
2. Investing in real estate
Real estate is a lucrative industry, but it’s not for everyone. Popular among entrepreneurs, investing in real estate requires long hours of study, extensive research, and getting your hands dirty.
Usually, real estate investors have side hustles to supplement their income. However, many people get into real estate as a side hustle and end up turning it into a career.
If you want to get started in real estate, don’t jump to investing right away. Take the expert advice from the folks at Bigger Pockets and start by learning about the industry. Get a part-time job as an assistant property manager to pick up industry knowledge and learn your local landlord-tenant laws. If you’re going to invest in real estate to rent out, you’ll be a landlord at least for a short period of time until you hire a property management company.
If you know someone who can help you make your first investment, you don’t need to wait. However, to be successful you have to think outside the box to gain a full spectrum of industry experience.
3. Content writing
Every business needs content writers and many are willing to settle for any level of proficiency. If you have any writing skills, you can easily pick up some content writing gigs on job listing sites.
If you love writing, you might start out writing one blog per week and decide you want to pursue writing full-time. If it’s truly your passion, stick with it and you’ll find the right clients who will pay you generously for your work.
Whatever people are struggling with, there’s a coach to save the day. Life coaching and business coaching are the most popular, but you can coach people on anything you’re passionate about.
Being a coach isn’t easy. Even people who intentionally start a career as a coach struggle. What most people don’t realize about coaching is that passion does not equal profit. Coaching is a hard sell, but life coaching is especially difficult. Running a coaching business requires more than business skills – you need to be proficient at helping people solve their problems.
If you’re good at helping people solve their problems, there’s a chance you might get addicted to being a coach. There’s nothing more satisfying than helping people grow and transform their lives.
It’s not hard to find sellable items at your local thrift stores. However, you need an eye for what people want to buy. If you’ve got that eye, you could end up with a new career.
For example, Natalie Gomez, a former merchandise planner at Macy’s, took on thrifting as a side job and wound up making thousands of dollars. Gomez was interviewing for a new job when she realized she was already making a good living selling clothes.
Enjoy your side hustles
Even if you don’t turn your side gigs into a career, take on gigs you enjoy. Money is necessary, but it’s never worth sacrificing your happiness.