This article provides advice from Angelique Rewers, CEO of a small business consulting firm, on how to make the most of a side hustle in 2024. She emphasizes the importance of financial organization, time tracking, and communication.
Side hustlers put a considerable amount of extra cash into their wallets in 2024. They made $891 per month on average, according to a recent study. There are a few moves you can make first to set yourself up for success, says Angelique Rewers, CEO of small business consulting firm. 'You should have a dedicated bank account,' she says.'You should have a dedicated credit card. You should make sure that your business knows what you're doing.
' You can build excel spreadsheets to keep records of your clients — whatever it takes to keep your external moneymaking activities in order. If your gig takes off and you haven't created the relevant dedicated tools for it,'you're going to lose control of the side hustle,' she says. Second, be aware of the commitment you're making.'Make sure you're not only tracking your expenses but that you are tracking your time,' Rewers says. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly newsletter. It's easy to underestimate the number of hours you're spending on your hustle and work overtime without getting paid for it. Maybe youa project would take five hours, then billed them for those five hours even though it actually took 10, for example. But'that's how a side hustle can go from being something that's really great to do to having a lot of resentment and it not being worth your time,' Rewers says. So be realistic about how long it takes and charge accordingly.Finally, make sure you're letting the people in your life know about your new gig. For those in your personal life, like your family and friends,'pick up the phone, text people, send them voice memos, let them know what you're doing,' says Rewers. They could help you find clients or even hire you themselves., Reddit,' she says, to tap your outer network and people you don't know. She adds that,'unless it's going to compete with your full time job, you can certainly talk about it on LinkedIn as wel
SIDE HUSTLE SUCCESS FINANCES TIME MANAGEMENT COMMUNICATION
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