South Africans have become more open to investing in multiple income streams – for good reasons. One of those income streams is commonly referred to as a side hustle and provides an additional income outside your day job. Side hustles are usually performed on weekends or after regular hours and can be anything from a freelance gig to a part-time role. Here’s how you can maximise your side-hustle and look good while doing it!
Some of the most profitable side hustles include:
Set Clear Goals
It is essential to be specific about your goals, as this will allow you to make more informed decisions about your side hustle while also ensuring that you maximise and make the most of the opportunities that come with it.
If the goal is to break into a new industry, consider becoming a virtual assistant in that field. If you are exceptionally talented and can find a way to meet demand with your talent, then you’re halfway to meeting your set goals. If your goal is to generate passive income by investing for early retirement, or if your goal is to travel the world as a digital nomad one day, the most important thing is to define your goals.
Your goals should be:
To be the most effective, you need to be sure of how much you need to earn to live the life of luxury you’re aiming for, with a specific plan on how you intend to achieve that.
Constant Investment And Evaluation
Side hustles are not a way to “get rich quick”. The goal should be a long-term sustainable income that will one day afford you the life of your dreams. You need to put time and money into your side hustle for maximum return, which should be evaluated regularly.
Consider how much time you’re dedicating to your side hustle compared to how much money it brings in ‒ is it worthwhile? Is your side hustle impacting your primary income, social life, health or relationships? If this is the case, are the outcomes always in your favour and aligned with your ideas of success? If not, what are your alternatives?
Manage, Record And Optimise Your Additional Income
What good is generating additional income if you don’t optimise the extra money you make? Even if it doesn’t seem like much at the outset, register your business and set up a separate bank account to record and manage your additional income.
This will not only help you take your side hustle more seriously, but it will also help you distinguish between business revenue and personal income, allowing you to properly account for taxes and operational expenses versus your actual profit.
Dress For Success
Aeronautica Militare is a brand with a long history of creativity and innovation. Today, the AM band is a hallmark not only in premium quality but in originality as well. All of our premium branded clothing and accessories feature the original Militare trimmings, coats of arms, and insignia, which are still worn by Italian military pilots daily.
By adorning yourself in a way that aligns with your business success and luxury lifestyle goals, you begin to attract the mindset and opportunities that will help you achieve your dreams. For an exclusive online shopping experience and to start your new journey as a successful side hustle entrepreneur, browse our online store and view our exclusive collections today.