By Erica Francis
Written exclusively for dankreiness.com
Teaching can be a fulfilling profession, giving you the opportunity to work with kids and contribute to their positive development. That said, it’s no secret that teaching jobs in the United States aren’t exactly well paid—especially those for BIPOC educators. If you’re an educator looking to make more money, a side hustle can be the answer. Below, Dr. Dan Kreiness invites you to learn how to pick a fitting side hustle and get some ideas to inspire you. You’ll also discover tips on how you can transform a gig into a formal and even full-time business if it takes off.
Focus on side hustles that match your skills
To keep overhead costs low, focus on side hustles that allow you to tap into existing resources. For teachers, gigs like online tutoring and creating e-courses can be a great match, since you already have experience teaching. For educators, home-based side hustles are convenient as they give you maximum flexibility. You can teach without having to report somewhere else to do your other work. Side hustles you can do from home include selling goods online, blogging, graphic design, and proofreading.
Manage the administrative setup for your side hustle
Before you start your side hustle, you may need to tackle some logistical steps. Writing a business plan can help you get organized and will give you a headstart if you decide to form a business down the line. A business plan includes steps like doing market research and figuring out funding, which will help set you up for success. You also want to make sure that you don’t need any special licenses or permits to legally run your side hustle. For example, say you love to bake and want to sell baked goods. You may need a food handler’s license.
Promote your side hustle to find customers
Once you’ve got the basics of your side hustle set up, it’s time to start finding customers. According to FreeAgent, there are plenty of affordable techniques you can try, like posting on social media, running competitions, and using refer-a-friend schemes. A business card is another simple marketing tool. It’s more impactful and long-lasting than email.
Consider turning your side hustle into a full-fledged business
If your side hustle proves successful, you might think of stepping away from education altogether and making it your full-time gig. If you want to go this route, there are a few steps you’ll have to take. SCORE explains how to turn a simple side gig into a business. For example, you need to reconfigure your mindset, considering your goals in terms of finances, skills, and time. It’s also important to make sure you have a strong portfolio and customer base to launch with. You can then take steps to scale up, like implementing technology.
Early on, you’ll need to decide how you wish to structure your business. Forming a Limited Liability Company (LLC) offers numerous benefits for entrepreneurs and business owners. First and foremost, an LLC provides personal liability protection, shielding the individual assets of its members from business debts and legal obligations. This protection is invaluable in safeguarding personal finances and assets. Additionally, LLCs enjoy the advantage of pass-through taxation, which simplifies tax reporting and can result in potential tax savings. Learn how to start an LLC in CT through ZenBusiness.
Don’t be afraid to ask for help as you transition careers
Starting a side gig can be daunting. Transforming it into a full-fledged business can be even more intimidating. You don’t have to go it alone. Look for resources in your area to help. For example, the U.S. Small Business Administration has local chapters across the country. They can help with tasks like writing a business plan and developing a marketing strategy. Many chapters also offer networking opportunities. You can find the branch nearest you using this online database.
Teaching can be a wonderful career choice. However, you don’t have to remain in education forever. A side hustle can be a source of extra income and even become a new career path if you form an LLC. Following best practices, like making business cards and networking, will help you get there.
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