Freelancing can be an ideal way to earn a living. But, you may be wondering — is freelancing a good side hustle? The short answer is yes! Let’s explore why freelancing is a great way to make some extra cash — while you continue to excel in your day job indefinitely.
Related Reading: Want to build a freelance business on the side of your full-time job so you can eventually quit said job? Check out: How-To Guide: Freelancing on the Side
What is a Side Hustle?
Before we get too far ahead of ourselves, let’s define what a side hustle is. A side hustle is a job or gig you take on to increase your overall income — while still working in your primary profession. You might decide to start a side hustle if you:
- struggle to make ends meet on your salary alone
- want to cover a large purchase, pad your savings account, or expedite the achievement of other financial goals
- can get paid to work on a passion project (the extra income becomes a secondary motivation)
What is a Good Side Hustle?
Now that we’ve established what a side hustle is, what makes one good? A good side hustle pays well and lets you work flexible hours.
You already work hard in your career. Your side hustle needs to easily fit into your ever-chaotic schedule — and be worth your time. It should also help you learn and grow as a professional so you can reap the benefits long after your client’s check has cleared.
Is Freelancing a Good Side Hustle?
Freelancing IS a good side hustle! Here are seven main reasons why:
- Schedule Flexibility
- Location Independence
- Quick Path to Earning
- High Earning Potential
- Growth Opportunities
- Career Enhancement
Let’s look at each in turn.
Freelancing is great for schedule flexibility. It’s easier to fit freelance projects into your day than working a part-time retail job, driving for a rideshare company, or walking dogs. If you have 15 spare minutes, you can whip out that laptop and get some work done!
Freelancing fits perfectly during times like: early mornings before hitting the office, evenings before bed, and in-between weekend activities. You get to decide when to do client work (and when not to!).
Freelancing gives you location independence. That means you can complete projects from your couch in your jammies. You can also work from the coffee shop, the park, the plane – pretty much wherever you can get electricity and an internet signal.
Related Reading: 6 Hot Freelance Services You Can Offer From Anywhere
Quick Path to Earning
Freelancing is arguably the fastest way to make money online. It’s certainly faster than waiting to reach influencer status or for a blog post to get enough traffic to monetize. If you’ve got marketable skills, you can start earning pretty quickly.
Related Reading: How to Get Clients as a New Freelancer
High Earning Potential
Freelancing gives you the opportunity to make bank! Seriously — you can earn more money by offering services like content writing, graphic design, social media management, web development, etc. – than you can by delivering food or being a barista. It bears repeating — if you’re going to give up your precious free time to make extra money, you might as well maximize your earnings!
Freelancing is adaptable and totally malleable to your circumstances. Need a little extra cash? Take on an additional project. Life resemble a dumpster fire? Pump the brakes on client acquisition. You can literally keep it as small as you want – or grow it into more than you ever thought possible.
Freelancing results in so much personal and professional growth. You’ll learn new skills, hone the ones you’ve already got, and meet many new people. Your network and worldview will expand exponentially – which can open doors in the future. Your freelance business could even be a springboard to an all-new career.
Freelancing can help you be better in your current career. Even if your freelance business has nothing to do with your profession, you can apply transferrable skills to your day job, which could lead to raises, promotions, or other accolades.
For example, when you freelance, you’ll have to negotiate your pay rate with clients often. It’s excellent practice for when it’s time to have a similar conversation with your manager.
You’ll also have to network a lot and put yourself out there regularly. If that’s not currently a strong suit of yours, don’t worry. You’ll get better through repetition. Then, you can impress the office with your confidence and relationship building skills.
So, there you have it. Freelancing is indeed a damn fine side hustle. You can make decent money – and earn it when it best fits in with your busy life.
Tell me: Do you want to freelance as a side hustle indefinitely — or ultimately replace your current profession?
Learn by listening? Check out this podcast episode for the 7 reasons freelancing is a good side hustle.