Side hustles usually require some spare time, a bit of intuition, and the ability to balance your life with both the 9 to 5 and the 5 to 9 going on. And after youโve put in all this time and effort, youโre not going to want things to slip through your fingers! Thatโs why you need to know the best ways to secure your side hustle, before anything does go wrong. So, here are just a few little tips to think about!
Donโt Let it Become Bigger Than Your Day Job
If youโre taking on a side hustle at the same time youโre focusing on your career, thereโs usually going to be a bit of overlap. Most people have side hustles in the same industry or niche theyโre already working in, and itโs often quite easy to pass between the two.ย
However, this isnโt always the case. If youโre doing a side hustle in technically uncharted territory, and you enjoy doing your job, you canโt let it get in the way.ย
Youโre using it to make spare cash on the side, and maybe to ensure that youโre not reliant on keeping your job forever. These are both good things, but the day that youโre giving more to your side hustle than the career you love is the day you need to re-evaluate.ย
Use an Appropriate Payment System
Some side hustles are seen as โhigh riskโ in the business world. Particularly, if you want to take out a loan to help build the beginnings of a business, you might get turned down on the sole basis of what you want to sell.ย
The same goes for payment portals you might try to make use of. Indeed, if you have a business centered around NSFW adult-only products, youโll need to use a gateway that either allows for that, or learn to discreetly accept payments for adult services.ย
Doing so will make it a lot easier to keep your side hustle going, especially if you take on new customers at a rapid rate. There often comes a day when asking for direct bank transfers or just using PayPal is no longer suitable!ย
Look into Insurance
Even though itโs a side hustle and itโs not quite a serious business (yet), you may need to have an insurance policy to back you up. Both products and services that consumers have to buy and pay for need to be covered, in case something goes wrong, someone gets hurt, or one or other party decides to pull out of the deal.ย
You donโt want to have to go to court, and you certainly donโt want a client skipping out on an invoice – especially if the money turns out to be non-recoverable! If you have the right insurance, however, you can be covered and compensated against both these potentials.ย
If youโre making money from home, donโt let that income get away from you! Protect your finances and your time through methods like those above.
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