Viable Side Job Opportunities in 2019

Looking to earn some extra cash? The internet has made this very simple in recent years, and there are many opportunities for side gigs if you keep your eyes open. Not all of them are equal, and some require a more careful approach if you want to avoid financial distress. But as long as you have a plan and you’re careful about executing it, you should be able to see some extra money flowing in relatively soon.

Just remember that you should maintain a fine balance between being patient and overinvesting. You don’t want to rush things, but you will also need to know when to step up your game. Seizing opportunities as they present themselves is one of the most important factors for an entrepreneur running a side business.

Freelancer

If you have any viable skills, you could always try your hand as a freelancer. The market is full of people looking for specific services, like art, writing, music creation, and more. In general, anything that you can consider a marketable skill is something you can sell as a freelancer as well. But remember that this kind of gig can take a long time to start, and it may not even work out at all.

You must also be careful in your choice of niche. You’ll need to find the right balance between the two extremes – too crowded and too unpopular – and depending on what exactly your skills are, sometimes one of the two directions will be more appropriate than the other.

Dropshipping

Dropshipping refers to running an online store without an inventory. You receive orders, redirect them to wholesale suppliers, and get things delivered to people without having to hold on to anything yourself. This can be very useful for those with limited space available, as well as people who want to try their hand at running an online store without investing too much into it first.

Keep in mind that dropshipping has become extremely popular in recent years though, and it can be very difficult to get into for this reason. But if you do manage to break in, it can be a very lucrative market.

Tutoring

On the note of selling your useful skills, tutoring is an alternative to freelancing that can sometimes be much more profitable per hour. It all depends on what you’re good at, and how well you are able to teach others. Don’t underestimate the importance of that last bit though. Having good teaching skills is crucial here, and it’s something many people overestimate themselves with.

Thankfully, this is something that can be improved with time and effort – just like any other skill out there. You just have to be realistic with yourself about your own capabilities, know what your weaknesses are, and be prepared to put in the work required to address them from start to finish. 

Programming

It’s becoming a bit cliched in recent years, but being a good programmer can be very lucrative if you know how to market yourself well. It takes a long time to develop good skills in this field, which is precisely why good programmers are so highly sought after and well-paid. It’s something you can also do on a freelance basis, but it’s generally better to find consistent contracts if you want more reliable work.

The one downside to working as a programmer for a side gig is that people’s expectations will sometimes be a bit unreasonable, and you’ll have to learn to say “no” often.

Things to Keep in Mind

Running a side business isn’t all about having the right skills for the main task at hand. You also have to consider some auxiliary factors. Funding is a big one that people tend to underestimate in many cases. If you don’t have the required capital, things can flow much more slowly. At the same time, building up that capital can take time and effort, and it may be out of your reach to begin with.

Loans are a good way around those restrictions. A carefully chosen loan can give you much more freedom in developing your business and pushing it in the right direction. But at the same time, if you’re not smart about choosing the right deal, you risk finding your company in a difficult situation later on. After all, failing to repay a loan can have some dire consequences, and people often underestimate them.

In the end, no matter what kind of activity you choose, persistence will be key to your success. You have to keep pushing forward, even when it seems like times are tough and not much is happening in your field. Sometimes, you may even be tempted to give up completely. But that’s just the way it goes when running your own business. It’s the same process every single entrepreneur out there has gone through at some point in their lives. It builds character and develops your skills, and will be an important cornerstone in your future growth in this field.

Important Considerations for a Personal Business

Developing your own side business is something that can benefit you a lot if you do it right. It’s not easy to get started, especially if you want to work in a more crowded niche. But once you’ve got the ball rolling, there’s little that can get in your way. And when you’ve gained enough experience, you may find yourself experimenting with all sorts of new ideas that will get progressively more successful.

But if this is your first time doing something like this, patience is going to be the most important thing. You want to start out small and ensure that you’re taking each step in a careful, controlled manner. And when you run into an opportunity to expand, you should seize it without questioning it for too long. But learning to identify those opportunities can take quite a lot of time.

Starting Out Small

As we said above, the most important thing to remember is that you should start out small and be patient as your business grows. It will take some time before you see any real profits, and things will be very boring at first. This is, unsurprisingly, the point where most people give up. If you don’t see any success in a month or two, don’t worry – there’s nothing wrong with your business (probably), that’s just the way things go in the world of entrepreneurs.

You should be focusing on observing the market around you and learning how things work. Examine your competitors and try to figure out if there’s anything they’re doing wrong that can be improved upon. Conduct market surveys and find out what people are looking to get. You’d be surprised how often some of these demands go on unmet.

Seizing Opportunities

Sooner or later you’re going to run into a situation that allows you to expand your business and give it a good boost. Not all of those opportunities are worth taking advantage of, and learning to identify the right ones is going to take some time. But if you pay attention to the way things are going around your company, you should get pretty good at this before too long.

Make sure that you actually do act on these opportunities whenever you have the resources for that though. Don’t assume that they’re just going to come around again later on. Sometimes, you only get one shot to do something with your business, and you might never get that opportunity again in the future.

Additional Boosts

If you want to make things go even faster, you have options for that too. A loan can be a good way to boost the progress of your business and give it the kind of push that it needs to expand in the right direction. Of course, you shouldn’t borrow money uncontrollably without considering the long-term implications. You have to carefully evaluate the situation and be sure that you can pay back the money in full before the deadline arrives though. Otherwise, you’re going to put your company at risk.

Don’t overdo this though. Just because you can give your company a momentary boost doesn’t mean that you should do it at every possible opportunity. Remember what we said above about seizing opportunities in a controlled manner. Try to figure out which situations are going to benefit you the most in the long run, and focus on those.

The Importance of Promotion

How hard are you working on promoting your company? Just because you have a good product doesn’t mean that people are going to want to buy it automatically. In fact, this is one of the most common mistakes that can be observed in modern entrepreneurs. You have so many options for promotion available, and many of them take relatively little effort to take advantage of. And yet, many people assume that simply doing their best with their main work is enough to get the word out.

Look into online promotional channels, especially social media. Utilizing these correctly can give your business a huge boost, and might even be the push you need to turn it into a full-time thing. Advertising on social media can be very cheap and efficient, all things considered, and it’s also easily available to most people. And the best part is, it’s directly compatible with many types of businesses that are suitable for a one-man company.

On top of all these things, you’ll want to always keep your eye out for any changes in the current state of the market. Many markets develop in waves, and it’s important to keep track of those waves and know when one is coming up. Anticipate the things people might be looking for a few months from now, and try to deliver on those fronts before all your competitors. And when you see an opportunity to expand things, try to take advantage of it.