Creating Side Gigs for Your Home Business

One of the disadvantages of being your own boss can often be the fluctuation in your income

Often how much income and when that income becomes available to you each month can be a source of stress. Some self-employed individuals plan ahead for the tight times, particularly if they know what months will be a feast and which will be famine. Not all of us have that knowledge, which makes it one of the scariest parts of being self-employed. Luckily there are ways to alleviate the fear. One of them is to create side gigs for your home business.

Here are 4 ideas that can add additional income to your business.

1. Expand your services. If you aren’t maxed out as far as time for clients/ projects is concerned you could consider adding a new service or product to what you offer. For example, when I first started out I provided administrative support services. After learning WordPress to create my own website and with skills I already had related to website design like HTML and CSS coding, I decided to offer WordPress website creation as a service. Although it wasn’t exactly administrative in nature, the businesses I marketed to were often in need of websites or WordPress assistance. Creating a website or two a month made a big difference in my income, but it was sporadic and couldn’t be depended upon. When I later added WordPress maintenance services, the monthly income amounts were small, but they were steady and dependable.
2. Teach others. Everyone has things that they are great at. For some it's working with Excel spreadsheets, for others it may be sewing their own clothing. These are skills that others are always wanting to learn. Check with your local adult education department and offer to teach a class or classes on what you know. Again, this may be more or less sporadic, but as a side-gig, it can provide a supplement to your business income.
3. Paid webinars and/or speaking. You know things. Things that other people want to know. I’m serious. There is always someone out there who is looking to learn about the things that you know. From how to use specific software to how to create meme’s, there are folks out there that want to learn. Offering low-cost webinars is a great way to share your knowledge with others, especially if you record it and/or make it an evergreen webinar. Or if speaking live is something you enjoy, consider speaking on something you know at a conference or event. Many give their speakers an honorarium. Local business groups are always looking for speakers at their meetings, and while they usually don’t offer pay, it could be a great way to find new clients.

• Monetize a hobby.  If you have a hobby you enjoy it could become a pretty good side-gig for bringing in additional income. If you’re a crafter or artist, it’s an easy step to start selling at local craft fairs, festivals or even on Etsy. Hobbies like spelunking or genealogy may not be as geared toward monetizing. Yet with just a little creativity you could create a guide to the caves in your area or teach a class on finding your roots at your local library or adult education center. If you decide to monetize a hobby, it’s up to you whether to let your business contacts know. Only a select few of my clients and those in my business circle know about my Etsy Shop and mixed media art. P.S. I didn’t start them to supplement my business. I was just looking to recoup the money I was spending on supplies.

Additional Ways to turn your hobby into a side gig:

• Create how-to materials- If your hobby is the type where others could benefit from instructions, consider creating a how-to ebook, video, or webinar that you could charge for.
• Create beginner guides- if your hobby has a learning curve, like certain video games, board games, etc. perhaps you could create a guide to help beginners navigate the curve.
• Offer live online how-to classes – Many hobbies are perfect for creating live how-to classes. Things like creating wreaths, flower arrangements, handmade books, upcycled items…and tons more convert well to offering a live online class via either a live webinar or a Zoom meeting.

A couple of points about side gigs.

• You want to be sure they aren’t so time-consuming that they interfere with your business.
• You want to be sure the time, energy, and/or materials you put in are worth the income you get back
• Sometimes a side-gig can end up being more lucrative than the business you originally were looking to supplement.

Experts have talked about the wisdom of creating multiple streams of income for a long time. For freelancers and small business owners who struggle with the ebb and flow of cash flow in their businesses it just makes sense to find a side gig or two to add additional income to your business.

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