A side hustle can be a great way to earn some extra cash at university. As many students will quickly come to realise, uni life can leave your bank account feeling a little, well, empty. All those overpriced pints and nights are a lot of fun, but sooner or later, it’s time to pay the piper.
Whilst most students opt for the more conventional part-time job, there is another choice available. Do you feel as though you’re not earning enough from your student job? Do you not want to spend more of your time working in a cafe or bar? Then it’s time to try a side hustle.
What Is A Side Hustle?
For anyone interested in making some extra cash, starting a side hustle is an excellent option. This can be done alongside your current job or it can be your single source of income.
Unlike a part-time job, a side hustle is a type of self-employment. A person with a side hustle has more freedom and control over what they do. Individuals can pursue the projects they choose as and when they want to.
But a side-hustle can mean many things. It may mean offering your services to a company or client as a freelancer. This doesn’t mean being permanently employed by them, but working for them on a temporary basis. It will also typically involve being paid by the hour.
It may also mean working completely independently. More entrepreneurial individuals may want flexibility that conventional jobs rarely possess. This is what makes them such an attractive prospect to anyone looking to earn some extra money.
How Do You Start A Side Hustle At University?
Want to know how to get started? No problem, let us break it down for you.
1. Identify Your Interests
The best way to start a side hustle is by identifying your interests, skills, and professional goals.
Having a side hustle will mean not having a formal contract or employer, so you’ll need to be self-motivated. Generally, it’s a lot easier to persist with something if you’re genuinely passionate about it. Think about your key skills and how you can monetise them.
For example, do you enjoy art? Consider graphic design. Do you like writing? Maybe freelance copywriting is the route to go down. Or do you love data? Surveys could be the way to go. Take some time to reflect on what you’re good at as well as what you enjoy doing.
2. Research Market Demand
Once you have identified your passions and skills, research the demand for this field. This can help you get an idea of the opportunities offered in the sector you want to pursue.
A great way of doing this is by logging on to online job portals and browsing the listings. These platforms will advertise side hustles and jobs, see how many roles you can apply for and how much competition you have.
This can help you investigate potential customers or clients that may require your services. Understanding the demand of your chosen side hustle will increase your chances of success.
3. Make A Side Hustle Plan
Though you may be excited about this new venture, don’t delve in head first! First, it’s crucial to set clear goals and establish your priorities.
This will involve determining how much time you can allocate to your side hustle per week. This will ensure it won’t clash with your studies. It will also mean outlining things like your target audience, hourly fee and marketing strategy.
You may also want to set some other goals for yourself like how much you want to earn per week. This can help to keep you motivated and focused.
4. Build A Presence
In today’s digital age, an online presence is crucial for most jobs. This could mean setting up a website or just advertising yourself on social media.
Either way, this is an important step to help you engage with potential customers and attract opportunities.
How Can I Successfully Run A Side Hustle At University?
Once you have your side hustle up and running, you might be wondering how you maintain it. There’s no point getting the ball rolling if you don’t nurture your business properly.
First things first, you’ll need to work out a way to effectively manage your time. Create a schedule that allows time for both your side hustle and academic studies.
Then, make sure that, as your side hustle evolves, so do you! Side hustles can be much more fluid and adaptable than formal jobs. So, keep taking current trends and customer feedback into account.
Embracing a growth mindset will help you constantly revamp and improve the success of your side hustle.
The great thing about building a side hustle is how rewarding it can be. As a student, it could become a fulfilling part of your university experience.
Start by thinking about what skills you have and how much time you can give to the business. Then, make a plan to help you reach your goals. The hardest part of any business is starting, so why not take the leap today?
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