The side hustle...

Discussion in 'Starting & Running a Business' started by hammer, 19th Sep, 2018.

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  1. hammer

    hammer Well-Known Member

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    I started doing a side hustle in earnest this year....and it's gone surprisingly well.

    I was aiming to earn 10k this financial year and it looks like I'm going to get there 6 months in! Not ready to quit my full time job yet but if things keep on going the way I suspect they might I may try to drop a day next year to devote to the side hustle.

    Anyone else had a cracking side hustle that they turned into a proper business? If so how did you navigate the change from full time employee to running your own business?
     
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  2. Ace in the Hole

    Ace in the Hole Well-Known Member

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    Not at the moment, but 12 years ago did exactly this.
    Wanted to make an extra $200/week on the side and ended up making a few hundred k that first year. It only got better after that.
    Went from side hustle to full time biz in about 1 month due to simply being too busy to keep the previous job.

    Keep it going, unlike being employed, business returns are unlimited if you give the market what it wants.
     
  3. bashworth

    bashworth Well-Known Member

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    Not up to the returns of 'Ace' and 'Hammer' but I started up my blog; anewhouse.com.au. which now makes me around $500 a month for around 2 hours effort a week.

    Nice little supplement to my pensions.
     
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  4. TAJ

    TAJ Well-Known Member

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    I have been in the carpet / upholstery cleaning business (partnership) for over 35 years. Just over a decade ago after constant remarks from clients about the high humidity and constant mould issues they were having we decided to add mould remediation to our business profile.
    Now we do nearly as much of it as we do carpets. It has been a great inclusion, pushing our profit up considerably. A lot of our work (mould remediation) is within the agricultural industry and the hospitality industry..... so commercial based as opposed to residential. This is where the big money for us now is.
    Thinking a little outside the square can pay enormous dividends.
     
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  5. NHG

    NHG Well-Known Member

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    Have had a side hustle for a little over 12 months.

    Broke the $2k+/week mark consistently, bringing on a part time manager now with a friend hitting similar numbers in same businees. Aim is to hit $4k/wk by June 2019.

    I'm not ready to leave my day job for a while. I earn well and can manage both, also, been in a similar position before and had profits drop drastically due to my poor management.

    I am dealing with a bit of anxiety due to the added pressures, that's where my focus is atm. Took up boxing 4 times a week to help me destress. My partners been super supportive and helps me run the business. Couldn't do it without her.

    I've had a handful of failed side hustle before this. Had to be consistent, and going back to work after a year off helps keep me disciplined and focused.
     
    Last edited: 25th Sep, 2018
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  6. chi.lam

    chi.lam Active Member

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    I've recently resigned from my 4 day/week job to focus on my side hustle so we're in a similar position. I would suggest going part time first to see if the side hustle has enough potential. But if your employer refuses to offer part time you might have to make a hard decision.
     
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  7. Car tart

    Car tart Well-Known Member

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    31 years and 11 months and 4 days ago started my side hustle. 30 years ago gave up work to develop it, 13 years ago became passive sole shareholder in the company i started. Now employs 36 staff and 1400 sub contractors.
    all the hard work, pays off and this was about my 6th business venture.
     
  8. TAJ

    TAJ Well-Known Member

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    Well done.
    May I enquire what you went into?
     
  9. Simon Hampel

    Simon Hampel Founder Staff Member

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    If you're interested in starting a side hustle and are looking for ideas or inspiration - check out Side Hustle School: Make Money Without Quitting Your Job by Chris Guillebeau

    He publishes a daily (!!!) podcast narrating stories about side hustles submitted by listeners. Some are only small, but others lead on to much larger things and become successful businesses. Lots of great ideas and tips and advice.

    The episodes are short and easy to listen to - great for commuting or while exercising, you don't get bogged down like some long podcasts.
     
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  10. Car tart

    Car tart Well-Known Member

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    Body corporate management!

    Before it was a business, it used to be a side hustle for real estate agents and accountants.

    Next side hustle was property development. While still owning above.

    Current side hustle is financing other people’s developments while still owning the other two.
     
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  11. John Ferguson

    John Ferguson Well-Known Member

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    Hi Brian,

    It is great to hear you are making some addition income through your blog. I am considering starting a blog/service website offering free content etc. May I ask how your website generates income? Is it solely affiliates or other methods? And how long did it take before it started generating some revenue? Also did you do teh website design yourself and who do you use for hosting etc?

    Regards

    John
     
  12. bashworth

    bashworth Well-Known Member

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    Location:
    Dandenong
    I generate income from:
    Selling my anewhouse guides........around $250 a month.
    Google ads.......around $150 a month.
    Charging for Guest posts.....around $100 a month.

    The first year the web site cost me around $300
    Year 2 I covered my cost plus recouped losses of year 1
    Year 3 I made around $2,000 profit,
    In the four years since then I have been making around $5,000 -$6,000

    I got some help from my daughter for the first website.....but wordpress, which I use is fairly easy to learn and I have started other blogs for voluntary groups without any help.
     
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  13. Luca

    Luca Well-Known Member

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    Got one of your guides, very good job!!!
     
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  14. spludgey

    spludgey Well-Known Member

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    I feel inadequate. Here I was thinking property was my side hustle... :oops:
     
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  15. spludgey

    spludgey Well-Known Member

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    I've read a few of your posts and you've obviously done very well, but it's interesting to see once again that underlying all that success is sheer hard work and tenacity! It's usually the case with successful people, but often not seen by the outside observer.
     
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  16. albanga

    albanga Well-Known Member

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    Started my side hustle a few years ago and decided to drop a day at my normal job to try and grow it and get more experience.
    Got to earning around $600 gross a week which was marginally better than my PAYG.

    I have since returned to my PAYG fulltime but my side business is still doing the same which has been a great little bonus. Still not passive enough for my likings though so got another little side development for a website happening.
     
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  17. albanga

    albanga Well-Known Member

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    Just grabbed a copy of the book so thanks for sharing. Off to Bali on Friday so dare say it will be read by the pool in about 2 days.

    I did read the first chapter though and think I’m in trouble. Coming from an IT background all my ideas are huge development projects! He said your side hustle should be making you money in 28 days. I don’t even finish my scoping documents in 28 days! Haha
     
  18. Simon Hampel

    Simon Hampel Founder Staff Member

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    Remember - you are aiming for MVP (Minimum Viable Product) as soon as possible ... it's really important to test your market as soon as you can - build something you can get potential customers using so you can get feedback and understand more about who your market is and what they actually need.
     
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  19. geoffw

    geoffw Moderator Staff Member

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    Adding to this. I've been through the MVP process. What we thought was MVP was still too complex. It took another level of simplification to get a suitably simple MVP - and the feedback from that was invaluable.

    Many co-working spaces and their parent organisations give short seminars on developing MVPs. Or there are books or online resources (like Udemy).
     
  20. jodes

    jodes Well-Known Member

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    @bashworth I have just started an Airbnb blog and would love to find out more about your google ads- any tips or resources you have would be much appreciated !