What are the key features of a successful side hustle?
Here we highlight five factors that make for a good side hustle:
- Not a hobby. A side hustle is not just an activity you do for fun; it also generates income.
- Not part of your job. A side hustle is a separate activity from your day job or full-time job.
- Starts quickly. If you’re like most people starting side hustles, you don’t have a lot of free time. Your time is valuable, so a good side hustle will be something you can start up quickly.
- Simple. You should be able to explain your side hustle in one sentence — no backstory, no context, just one simple idea.
- People can pay for it. A big problem with starting side hustles is figuring out how to monetize. Determine what your deliverable is — what will people pay for when they buy from you?
Incorporating live streaming into your side hustle
For those starting a side hustle, live streaming can be a great way to build a community and generate leads, or it can be the product itself. Live streaming is a great way to connect with your audience; they can see and hear you in real-time, rather than just reading words you wrote and published on a blog. They can also ask you questions and get immediate responses.
To use live streaming as a product for your side hustle, you can stream a course or tutorial and sell subscriptions to it.
How to commit to daily content creation
But Joshua Shoemaker has a secret for accomplishing a new podcast episode every day. For him, it’s easier to do something on a daily basis than on a weekly basis. When something is weekly, you have to set aside time to work on it, and it doesn’t fall into a good rhythm. When something is daily, it’s much easier to incorporate it into your schedule and find time for it. Creating content becomes an essential part of your day, like eating lunch.
[Podcasting every day] is good for the audience as well for the community. It shows them that this thing is there every day and they can depend on it.
Staying positive on your podcast or live stream
What do you do if you've had a bad day and you have to host your daily podcast or live stream? Always remember to don't transfer the negativity to his listeners and instead focuses on the cool story or person he’s showcasing on his episode. Thinks about how listeners can learn from his episode rather than feeling bad about having a bad day. He also drinks lots of coffee.
Idea vs. Execution
Is there such a thing as a bad idea? Or can you pull anything off as long as you execute it properly? Coming up with good ideas is valuable, but implementing them is more valuable. You shouldn’t worry about somebody trying to steal your idea because anyone looking to steal an idea probably has no clue about implementing it.
It is possible to come up with a bad idea, and the way you can tell is by examining feasibility. If you have several ideas, think about which one you can implement the most quickly, with the most profit potential. The ideas that don’t allow you to do that are probably bad ones.
Reasons that stop people from starting a side hustle
Here are some reasons why people are unmotivated to live stream. Here are some common ones:
- Not enough time. Look at choosing to invest your time as a way to improve yourself. Aim to make use of your time as efficiently as possible.
- Not enough money. It’s possible to get started without much money at all. Joshua’s work focuses on helping people see opportunities that don’t require a huge monetary investment.
- You tried before and it didn’t work. Everybody tries things that don’t work. The goal is to not let it set you back and focus on something new or different instead.
No matter how many reasons hold you back, always look for one reason that motivates you to start your side hustle.
How do you find time to do a side hustle?
Finding the time to pursue your side hustle is a personal challenge — not everyone will schedule their time the same way. Maybe it takes giving up something else, like watching your favorite 30-minute TV series, so that you can spend time on your side hustle. When you only have a little bit of time set aside, it’s a great way to motivate you to be more efficient. For live streamers, streaming to multiple channels at once with Restream is a great way to make better use of your time as well.
Pick out the number-one thing you need to do during your 30 minutes or one hour a day that you focus on your side hustle, and get it done.
Do entrepreneurs and side hustlers benefit from live streaming?
Anybody can benefit from live streaming if they have a message to share. No matter how niche your business or side hustle is, you can still find a community for it. If you want to add live streaming to your strategy, just ensure that you’re providing value and can support doing live streaming in addition to your other business activities.
? Try StreamYard for free! https://streamyard.com/pal/4859907029073920
We cover connecting destinations, scheduling, inviting guests, simulcasting/multi-streaming, setting up your branding, and much more.
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