For many people, when it comes time to think about making some extra money on the side, thoughts like “I’m going to make the next big app!” can be tempting. But if your plan to make money on the side requires everyone to fall in love with your product, it’s probably going to fail.
Picture: Loozrboy
As finance blog Debt Roundup explains, trying to make money on the side should be just that: on the side. If your plan is to reinvent an industry — especially one you’re not currently in — you’re likely to get creamed by those who work on it all day long:
You aren’t trying to change the world here. If you think having a side hustle involves inventing the next big thing then do yourself a favour and light all your money on fire now. Being creative is handy in side hustles only to the extent that it saves you time and money. For side hustles, consider “creative” as you would a pick up line: to be used sparingly. Research what works and is a fit for you, and make it your side hustle. Don’t step out of your area of expertise, don’t sign up for any courses, and don’t buy any books. If it isn’t fairly obvious to you from the get-go, find another side hustle. You’re trying to make some money, not go back to college.
That’s not to say that you can’t take a really great idea and develop it until it becomes the hot new app on the block. However, if your goal is to make extra money instead of starting a new career, don’t get bogged down by the convenient, yet typically-false notion that you can make your millions on something you worked at for five hours a week. Check out Debt Roundup for more tips on how to find the right side business for you.
How to Find a Side Hustle [Debt Roundup via Rockstar Finance]
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