If you’ve ever considered making extra income, reading this post might become the biggest decision you’ve made since the day you first decided to learn how to read.
Everyone should consider having a side hustle or multiple side hustles in this day and age. Having an extra income can help you afford all the expenses you have to deal with, especially if your current job isn’t bringing in enough money.
So, let’s get straight into it. How does one start a profitable side hustle in Nigeria today?
- Ask the right questions
Before you consider starting a side hustle, you must be sure that you have all it takes to pull it off. This would include asking yourself some important questions, such as:
- Do you have an idea of what you want to venture into?
- Does the idea fit your current schedule?
- Does the idea align with your values and interests?
- Is the idea financially viable?
- Evaluate your skills
What are you skilled at? What products and services do you offer in your day job that you can also offer as a freelancer?
Do you have any extra skills or hobbies that you could monetise? For example, for cooking, writing, and singing, you can take private, paid classes or start a YouTube channel. Think of all the skills you have, write them down, identify which of them can be monetised, and then start scouting for freelance and part-time job opportunities that won’t clash with your 9–to-5 job.
- Research viable side hustles
Go online and research viable side hustles in Nigeria that you could try out. Learn which ones are the highest paying, how to learn them, and where to find such jobs.
- Consider things to sell online
Every business is either selling products or services. When you decide what you want to sell, you should also consider selling online, as any business that does not have an online presence in this age can not go far.
For tools to help your business sell better online, read this article.
- Learn something new
It’s not enough to have basic knowledge of what you want to do. You must keep up with industry trends and learn something new about the business you want to start. A good place to learn how to do almost anything is YouTube. Watch Youtube videos, take online courses on Coursera , Domestika or Udemy , watch Instagram how-to videos etc.
- Connect to people in your social networks
Connecting with people in your social networks first will help you generate more sales. Social media has altered how people conduct business in today’s world. If you are not utilising the power of social media to grow your business, you are missing out on a huge opportunity.
The best thing about social media is that it gives you the opportunity to connect with a lot of people and spread the word about your new business without having to spend any money on marketing or advertising. One of the best ways that you can leverage this opportunity is by pointing new customers toward those who have already purchased from you.
- Automate your business
Consider investing in software that automates as many of your new business’ processes as possible after analyzing your business operations. By doing this, you can complete the tedious work quickly and free up your time to concentrate on other crucial tasks.
Read here to know what tools can help automate your business for the better
- Start Lean, Start Now
Side hustles are things that you do in your spare time to generate extra income. The beauty of this kind of work is that you only need a small amount of money to get started.
You need to choose a side hustle that matches your abilities, interests, and schedule out of all the possible options. Don’t wait until everything is ideal before starting a side business. Instead, start small.
- Set clear Boundaries
It’s important that you set boundaries for your side hustle so it doesn’t encroach on your work hours or your personal life. One thing you should do is schedule time each week for side hustle work so it doesn’t take over your schedule.
You don’t need a lot of money to start a side hustle, but you do need to take action and put in the effort necessary to make it happen.
Dukka is a leading bookkeeping and payments app. We provide solutions for bookkeeping, payments, cash flow management, and access to finance for small businesses in Africa. We are building an OS for commerce for African merchants.
To learn more about what Dukka is doing or to have a general chat, visit Dukka.com.