What Is a Side Gig?

Posted on February 21, 2023  •  3 minutes  • 509 words

Side Gigs 101: Everything You Need to Know

A side gig is a flexible job or project that allows you to earn additional income outside of your primary source of income. Also known as side hustles or side jobs, side gigs can be a great way to supplement your income and achieve your financial goals. In this post, we’ll explain what side gigs are, why they’re popular (especially during times of high inflation and cost of living increases), and how you can get started with your own.

What is a Side Gig?

A side gig is any type of work that you do on the side of your regular job or career. It can be a small project, such as selling handmade crafts or offering pet-sitting services, or a more substantial undertaking, such as freelance writing or consulting work.

Side gigs can be a great way to earn extra money, pursue your passions, or explore new career opportunities. Many people turn to side gigs to increase their income, pay off debt, or save for a specific financial goal.

Other Names for Side Gigs

Side gigs are also known as side hustles, side jobs, freelance work, gig work, or moonlighting. These terms all refer to the same idea: earning money outside of a traditional 9-5 job.

Passive Income and Side Gigs

One of the most desirable aims of a side gig is to earn passive income . Passive income is money that you earn without actively working for it. It’s often generated by an initial investment of time or money, and then continues to earn revenue without much ongoing effort.

For example, creating an online course or ebook can require a significant investment of time and effort upfront, but once it’s complete, it can continue to earn money without much additional effort.

Other examples of passive income include investing in stocks, rental properties, or creating and selling digital products.

Getting Started with Your Own Side Gig

If you’re interested in starting your own side gig, there are several steps you can take to get started:

1. Determine your skills and passions: Consider what skills or interests you have that could translate into a profitable side gig.
2. Research your market: Look for opportunities in your area or online where you can offer your skills or services.
3. Build your brand: Create a website or social media profiles to showcase your services and build your brand.
4. Set your rates: Determine how much you’ll charge for your services based on your skills, experience, and competition.
5. Promote your services: Use social media, word of mouth, or other marketing tactics to promote your services and attract clients.

Final word

Side gigs are a popular way to supplement your income and achieve your financial goals. Whether you’re looking to earn extra cash, pursue your passions, or explore new career opportunities, a side gig can be a great way to get started. By understanding what side gigs are, why they’re popular, and how to get started, you can create your own successful side gig and achieve your financial goals.