This post may contain affiliate links which means that if you click through to a product or service and then buy it, I receive a small commission. There is no additional charge to you.
This is a collaborative post.
Picking up another job alongside your main income is all the rage these days. It takes effort, but millions of people around the world have a side hustle thanks to just how useful they are when you’re strapped for cash. You can use spare time you have to create a buzz, and take home thousands each month thanks to the productive way you use these hours.
However, side hustles aren’t magic. They have the same problems that regular businesses do. It’s hard to get started, and you’ll need to commit to your new job. With that in mind, here are the most common side hustle issues you should be prepared for.
You’re Not Sure About Your Reasoning
If you don’t have a goal to reach for concerning your side hustle, how will you know you’ve been successful? Maybe one day you want to do this full time? Maybe you want to save up for something big, like your own home? If you don’t know, you’ll never get there!
Pricing Too Low From the Beginning
If you set your prices low in order to drum up interest, it’s going to be extra hard to raise them when you need to. This is a mistake a lot of entrepreneurs make. They want to make things ‘affordable’ for the market, but after all that work they then realise why the prices were set high in the first place! You have the best intentions here, but be realistic. You need to make money, and you need to make your side hustle worth it, so price yourself at such a rate.
Not Setting Up a Regular Schedule
If you don’t work on your side hustle every day, it can be hard to fall into an irregular pattern. That can mean you’re bouncing around trying to find the best time to get some tasks done, but in reality you’re just wasting time. So try to follow the same schedule from day one. Sure, it may need to become a bit more flexible in a year’s time, but for now this is best. You need working hours you can rely on, and to get into a routine with them.
Some Clients Just Won’t Pay
It’s true: some clients will take your product, leave you ‘on read’, and then refuse to answer your invoices. In situations like these, the key is not to panic. You can recover from a missed payment or two, especially when you work with relevant services to give you the best chance to get what you’re owed. For example, hiring a company like Reveal PI to serve legal papers to a client’s address is a good way to show you’re serious about the money involved. After all, this is your livelihood we’re talking about, and it’s best not to mess around.
Side hustles can be lucrative, but they’re still just as problematic as a full time business. Approach them in the same way and you’re more likely to find success.
