In such lean economic times, where the cost of living is increasing yet wages are stagnating in this global economy where you’re no longer competing with people in your locale, the internet has opened up opportunities for the whole world – some of which are able to heavily undercut cost of labor based on the significantly lower cost of living in places such as India.
Unfortunately, in combination with these rising costs and increasingly competitive labour force, job security seems to be a thing of the past that remains as a cherished memory or something only accessible for the elders of our current workforce. Nowadays, with the invent of portfolio careers, constant change is rapidly becoming an accepted norm – and part of this is the desire for people to supplement their main income with a side business.
It’s becoming more and more important to earn an income from multiple streams of income – which is where side hustles come into their own. No doubt, you’ll have heard of sayings such as “don’t keep all your eggs in one basket” – the idea being that you need to diversify your sources of income so that you are not reliant on something that could be taken away at any time.
For many people, a side hustle is something they fit around their existing job, or even jobs, and family commitments such as being a fulltime mother to make an extra income. Think of a vase with a number of rocks inside it; the vase represents the inherent limitation of having twenty four hours in a day… whilst the rocks represent activities with that day – first off, you’ll need to put around eight rocks in there to represent the amount of time you sleep each day, then there are some rocks for your job, a few for eating, a small rock for taking a shower, perhaps even a few pebble for going to the bathroom. You get the idea right? The point is, we all have busy lives that are already full to the brim, and we don’t always have that much spare time, however if you look closely at this vase, you’ll see there are gaps between each of the rocks and if you were to get a handful of sand you’ll be surprised how many handfuls you could pour into the vase before it is completely filled.
Okay, so you get the idea of a side hustle fitting around you life, but there are still a limited number of hours in the day that you can possibly spend – and some of those rocks (such as watching Netflix in bed) might need to be replaced with more financially productive activities… but, the best way to go about setting up a side business, is to ensure you are doing something you love; something you are passionate about – because when you are engaged in doing something you love, it doesn’t feel like ‘work’ at all.
The title of this post presupposes that you have a passion for DIY, as otherwise you wouldn’t be reading it, but unlike most articles that focus on what to create this article is going to give you a strong idea of how to set-up the business around your DIY passion.
The first thing you’re going to need are some decent tools. You can do things by hand, but power tools will shave hours of your production time. You might want to check out https://www.toolnerds.com/ as a source of information for reviews of all the major tools that can save you tons of time when doing the necessary DIY work. The second thing you’ll need is a decent space to work in. This needs to be spacious enough to be comfortable to move around in, but there shouldn’t be any need to acquire extra premises if you have some space in your garage or a garden shed – this is normally enough; an important consideration, however, is that there is enough air and natural light coming into the space.
You then have the materials themselves to consider, but this is too obvious to dwell on in this post. The thing we’re going to focus on here is how to turn your passion for DIY into cold hard cash… and to do that, once you’ve made your item you need to get it out into the world and sell it. Here are three options that work wonders:
- SET UP A WEBSITE
You don’t need to necessarily build your own website, as there are a variety of platforms such as Etsy that do all the hard work for you, and not only do they allow you to tout your wares and promote your products – they also connect you with a self selecting audience that are looking for the solution you can offer. However, the limitation of platforms such as Etsy are that they don’t allow you to have a digital home for your business – it is very much limited to being a shop window.
- GET ON EBAY
Don’t underestimate the power of eBay. It might not be as ‘current’ and trendy as platforms such as Pinterest and Etsy, but don’t underestimate the massive use rbase eBay has. List your items as “buy it now” or “make me an offer” for best results.
- LEVERAGE OTHERS
Have you ever been to a boutique hotel with interesting features, such as quirky furniture and wondered where the owners sourced such interesting designs. Imagine, now, if you were to approach the hotel owner and explain they can have “free” furniture in return for their recommendation of your craft business. This way, the furniture is essentially on loan to them, like how a piece of art is on loan to a gallery. This is a great way to drum up offline business.
In summary, the trick is to get started and lean into it… there’s no point forever reading blog posts that inspire you to take action, but in reality, you’re still sat in bed – it’s time to grab your tools and make this happen… as Nike suggests; Just Do It!