3 Important Criteria to Consider When Choosing a Side Hustle
It’s all about maximizing the time you allot and effort you exert for the most optimal profit.
Many people want to do side hustles but are unsure of where to begin. Common considerations include how much time you can allot, or how much extra income you want to generate. But for me, there are specific considerations I look at before engaging in any type of side hustle.
Here are three of the most important criteria to think about when choosing profitable side hustles:
Requires very minimal effort, thinking, focus, time or attention
Taking a side hustle you can do with very little time investment is a great start. You can earn money while sitting on the toilet instead of reading labels off the shampoo bottle, or when you’re waiting in line for the bank.
Some examples are doing online surveys or captcha-entering gigs or answering questions for familiar topics on sites like Course Hero.
Only needs short-time effort but pays off long-term
A one-time effort that yields long-term benefits is a great side hustle because you can wing it and leave it. Imagine spending a few hours once a week for something you can passively earn from in the next six months.
Some side hustles that let you do this is affiliate marketing and drop shipping.
High profit in proportion to the amount of work
When I opened one of my online businesses in 2012, I only spend one to two days per month with a 60% to 80% profit margin. I earn at least double the minimum wage monthly for just a little physical and mental work while doing what I love. That funded many of my hobbies while still studying.
Certain micro-business ideas allow you to outsource menial and routine tasks to others, and it’s certainly a side hustle that you can explore.
Side hustle is all about maximizing the time you allot and effort you exert for the most optimal profit.
It’s possible whether you have days’ worth of free time, or only when you’re having lunch at work. Regardless of your availability, all it takes is to start.