Not every startup founder is lucky enough to get an angel investor to fund their venture. If you want to earn extra income as you run your startup, consider pursuing a side hustle.
A side hustle allows you to explore your hobbies and passions by dedicating a few hours every week to the project. A well-thought-out side hustle can provide extra income to help you fund your startup.
Here are some side hustles that can help you bootstrap your startup.
Sell digital products
Digital products are items that can be downloaded or streamed online, without the need for a physical copy. Popular digital products include online courses, eBooks, social media graphics, resume templates, printables, checklists, etc.
Depending on the skills you have acquired along the way, you can research the market to know what is in demand, and create a product that targets that market. Once you have a ready product, you can start an online store on platforms like Shopify, Woocommerce, Gumroad, etc. to start selling.
You can also utilize social media platforms like TikTok, Facebook, and Instagram to market your product. If you sell through an online store, you can also create an email list that you can use to send your promos and product updates to your subscribers.
Dropshipping
Dropshipping offers a lot of flexibility to sellers, since you don’t have to worry about holding inventory and fulfilling orders. Simply set up an online store and contract a third-party manufacturer to supply and ship the product to the customer.
With popular platforms like Shopify, Amazon, and Aliexpress, you can set up an online store quickly without requiring a significant upfront investment. To succeed in dropshipping, find a trending product that appeals to your audience.
Write compelling product descriptions and use high-quality images for each product. You can then reach your audience via Google Ads and social media ads. You can also partner with popular influencers in your niche to boost your sales.
With consistent marketing and expanding your product range, dropshipping can bring in significant passive income.
Rideshare driver
If you own a car, you can tap into the gig economy by driving for Uber, Lyft, and other rideshare companies in your city. As a rideshare driver, you can set your schedule and start making money immediately.
Since driving for rideshare companies means you will be interacting with people on a daily basis, you can start building connections and promoting your startup to potential customers. Keep your business cards and brochures ready for clients who want to know more about your product.
Alternatively, if you are not keen on having passengers all the time, you can sign up on popular delivery apps to start delivering groceries and pizza. You can sign up on Uber Eats, DoorDash, and Instacart to start making deliveries immediately.
Become a consultant
As a startup founder, you can establish yourself as an independent consultant to monetize your existing skills. With the rise of remote work, you can offer consulting services to clients from around the world.
Whether you are an interior designer, marketing consultant, financial analyst, or web developer, you can leverage your existing skills on your schedule and rates. For example, as an interior design consultant, you can provide layouts, advice, and renovation plans for clients seeking interior design services.
You can market your consultancy services on freelance platforms like Upwork and Fiverr by creating a personalized portfolio showcasing your skills, experiences, rates, and availability. Remember to request 5-star ratings from satisfied clients, which you can use as testimonials.
