Side Hustles ideas with Zero Starting Capital — 2022 Edition (Part 2)
If you’re looking to make extra money on the side by exploring something you never saw yourself doing full-time, then our curated list of side hustles is made for you! Check out Part 1 of this series, if you haven’t already!
Freelancing via online marketplaces
Does the “gig economy” leave you confused? It’s simply a system that’s designed for providing people the flexibility to provide one-off services. And there are several platforms that already are doing just that. Fiverr, Upwork, TopTal, Outsourcely, and Dribble are among the more popular ones out there.
Here are a few examples to get you thinking…
· Want to consult on a different way of composting for a client sitting in Germany? Check.
· Want to design a logo for a brand? Check.
· Think you can build complex Excel models for a client in Brazil? Check.
· Know how to write good code and build a website? Jackpot!
- Know what you’re offering. Are you good at writing and editing? How about using Canva? The more specific you are, the better value for money you’ll be able to give to prospective clients.
- Do your homework on other freelancers offering similar services within your area. What are they offering and for how much? Price yourself accordingly.
- Make sure you market yourself on social media after creating a profile on a marketplace. Clients are not going to find you by fluke!
- It takes time to get going, so stay patient.
The gig economy’s right there to help you reach clients practically anywhere in the world. Make the most of it!
If you’ve ever been a student abroad, you would know that working as a Research Assistant or Teaching Assistant is a great source of pocket money. It’s not that big a thing at Indian universities yet… unless you’ve heard of Chegg. Time to put that 98% in 12th to use!
If you’re a whiz in your class, Chegg would give you a chance to become a Subject Matter Expert to connect with other learners and earn on the side. Just click here to start your application for becoming an expert.
If that doesn’t work. Try the old school route — advertise your services on billboards, post on community groups, or just spread the word through people you know! WhatsApp zindabad!
Start where you can. When you do a good job, word of mouth will help you build your client base.
If you enjoy teaching and have expertise in a specific category, this one’s for you.
The increase in online learning throughout the pandemic has enabled so many creators to build their own online courses. So, if you believe you’re great at something, break it down into modules and share it with the world. The best part? Once you record an online course and start selling it, it’s a passive source of income. You just have to make sure you market your course the right way.
Online learning in India alone is expected to grow to $360 billion by 2024 anyway, so ride the wave. Pass it on!
- Remember to market it to the right audience — you may want to explore running ads that target the demographic you’re going after.
Become a social media creator
Creativity and knowing who, what, or how to target, can open up a whole range of money-making possibilities on social media. Create content based on what you like doing and see that followers count grow! The more followers you get, the higher your chances of getting paid for endorsements and collabs.
- Create content in batches to stay consistent. People can hit a dry spell with creativity at times, so make the most of your moments of inspiration.
- Collaborate with other creators. This will help you both grow and reach each other’s audiences.
Selling products online
Have you ever thought about how much profit could you make by becoming a reseller? There’s plenty of people who already do this and if you’re great at convincing people, then this one’s for you! And in a country like India, people always have old stuff lying around. Buy at X, sell at Y!
Similarly, websites like Etsy, Meesho, OLX, and Facebook Marketplace are great online marketplaces to sell your products without even having to think about laying a single brick or building a website.
The best part? Social media algorithms will do their bit as long as you describe your product in the best possible way for customers to see it, like it, and buy it.
- Thrift shopping is a concept that’s picking up pace in India. That’s how websites like Kiabza, Amalfi India, and Bombay Closet Cleanse are becoming increasingly popular. So if reselling is your buzz, maybe you could start your own!
- Instagram is a great place to get started with advertising your products. Give it a shot!
Confused or overwhelmed?
Before getting started, ask yourself — what am I good at? Then see which platform or service is going to help you make money out of it. Don’t worry if there’s no explicit “market gap”. What you do and your approach will only be unique to you and that alone may appeal to some clients. And to better yourself every day, speak to other side hustlers doing the same thing.
Reach out, connect, grow, repeat.
Just make sure it doesn’t come at a cost you can avoid (health, for example). Only take on as much as you can squeeze into your day, especially if you’ve got a full-time job or are a full-time, stay-at-home parent.
Final SALT Tips:
- Getting started as a freelancer is tough but not impossible. Start slowly and build consistency.
- Don’t let clients take you for a ride. Sort your paperwork — get everything in writing, so that all parties are on the same page.
- Agree on your terms and conditions before investing your time and energy in any paid assignment.
Liked this two-part series? Check out our other blogs below!
· What is the difference between saving and investing?
· What are financial goals?
· Wondering how to diversify your investments? We’ve got a solution
· Feeling guilty about your social media expenditures? Here’s what you can do
· What exactly are “Buy Now, Pay Later” schemes?