Small business advice personalized for those who are new to business
What makes a Legit Side Hustle?
So, you’d like to add some extra money to your monthly budget? You need a side hustle that’s flexible and still brings in the cash. You’re not looking to get roped into a pyramid scheme, and you’re wise to those “get rich quick” promises, so you might be wondering if there are any legitimate side hustles left. There are many legitimate side hustles that will allow you to work flexibly and earn real money. I’m going to give you a few pointers on how to decide if something is a legitimate side hustle and give you a few suggestions of legitimate side hustles that don’t cost a lot of money to get started. Later this month, I’ll be sharing interviews from real women who are working their own legitimate side hustles.
How to Tell if a Hustle is Legitimate
Avoid scams with a few wise practices. First, if something sounds too good to be true, it probably is. Put on your scam detector specs and proceed with caution. Second, ask specific profit and cost questions. How much does it cost to get started? How much can you expect to earn? What does it take to earn that promised amount? Are you likely to obtain that? For example, several MLM companies will give you an example payout of “you could earn $1500 per month” but in the small fine print down at the bottom you read that “results are not typical” and it would take $10,000 in referred sales to earn that amount. Is that realistic for you? Keep in mind, 90% of MLM participants lose money by participating. Take another example, affiliate marketing companies will say “so-and-so earns $3,000 per month”, but the fine print says “results not typical” and affiliates earn a measiely 0.005% on sales. Third, ask yourself if you’re in control? A legitimate side hustle will leave you in control. If you find yourself having to give up control, you’re most likely in a side job, not a side hustle. A side hustle will let you dictate at least a few of the following: your schedule, prices, products / services offered, marketing decisions, and how much you can earn.
Questions to Ask Yourself
A Few Side Hustle Ideas
These are only a few of my 50 Low Cost Business Ideas you can get by joining my Facebook group.
Do Platform Fees Make Side Hustles Not Worth it?
Many many people who would otherwise excel at selling products or services online stall because they are afraid of paying out platform fees. These are just a part of doing business, they shouldn’t scare you. You can still earn great money on platforms like Ebay, Etsy, Poshmark, Airbnb, Fiverr, and more. The difference between an MLM company’s commission payout and a platform fee is who is taking the lion’s share. An MLM company might hand you 10-20% off the product sale price, keeping 80-90% for themselves. A platform like Etsy will take 10-20% off the sale price, and you get to keep 80-90% for yourself.
More Legit Side Hustles Coming Soon!
In the following weeks and months, I’ll be publishing several interviews I’ve conducted with real women who have started their own side hustle and are earning at least $200 profit a month working less than 10 hours a week. Subscribe to my blog to get email reminders when these interviews are published!
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Hey! My name is Christine and I'm an entrepreneur and small business coach. I've learned most of what I know through trial and error. I help women who are new to business to take their next steps with confidence and clarity.
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