4 Key Signs You’ve Found a Great Side Hustle
Written by
Yaël Bizouati-Kennedy
Edited by
Amber Barkley
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Having a side hustle can be a great way to supplement your income, develop your passion and provide a financial cushion in uncertain times. But not all side hustles are equal, and what makes a great one depends on a slew of factors.
And if you’re considering a side gig, you’re not alone. A survey by LendingClub and PYMNTS.com found that 23% of Americans have a side job, with millennials making the bulk of those who have one at 47%.
Yet, when it comes to what makes a great side hustle, there are a few things to consider. Here is what experts had to say about the signs you found a great one.
It’s Giving You Confidence
Diving into the world of side hustles is like navigating a maze — thrilling, yet full of unknown turns, said Bryan Clayton, CEO of GreenPal. But according to him, there’s a secret sauce to identifying a side hustle that’s not just a fleeting spark but a roaring fire.
“Most people don’t know this, but the real litmus test of a fantastic side hustle is the sheer confidence it gives you,” said Clayton. “The kind that makes you think, ‘Hey, I might just quit my day job!’ And as if that’s not enough, when you find yourself passionately mulling over ways to evolve and expand it post your 9-to-5, you’re onto something big.”
On the other hand, Clayton also noted that some side gigs can fizzle out very fast.
“It’s all about finding that sweet spot,” he said, and finding the balance between passion and profitability.
“Believe me, when your side hustle feels less like work and more like a calling, and you’ve got a blueprint to grow it — that’s the jackpot,” he said, adding, however, that the journey of transitioning from a side hustle to a main gig isn’t a cakewalk.
“It’s filled with learnings, a fair share of stumbles and tons of rewards,” he added.
Word-of-Mouth Is Spreading Fast
One sign your side hustle is on the right track is that it’s beginning to get customers and business through word-of-mouth referrals, according to Tom Blake, founder at This Online World.
According to Blake, for service-based side hustles, word-of-mouth can be critical for growth. “It’s a sign that customers trust you and feel that you provide fair value and quality work. And it’s a business you don’t have to hustle for or spend money on advertising to obtain, which can help you scale,” said Blake.
On the flip side, Blake added, if it’s been months of hustling and you never see repeat customers and can’t get word of mouth business, it could be a sign something is going wrong.
“Use this realization as an opportunity to ask past customers what they like and don’t like about your service,” added Blake. “With tweaks to things like pricing, post-service support or how you deliver your service, you can steadily improve the service you’re offering and create more customers who advocate for you.”
Gaining Attention and Recognition
For Liang Zhao, CEO at Vansary — a public relations and marketing agency working with startups, venture capital firms and financial institutions — the definite sign of a good side hustle is when you start gaining recognition from your peers.
“I started as a freelancer in 2019 and didn’t officially turn my ‘hustle’ into a full time job until 2021. I gained attention and recognition from the startup and venture capital industry through positive feedback, testimonials and word-of-mouth referrals, which aided in my business’ growth,” said Zhao. “When my total contracted hours surpassed what I was able to do on a weekly basis, that was when I knew I needed to hire and expand.”
There Is No Start-up Cost and You Learn Skills You Can Apply To Other Businesses
According to Pinky Chong, a physical therapist by trade who started selling stuff out of her own closet and made a business out of it more than a decade ago — The Resale CEO Academy — one sign you’re on to a successful side hustle is if you can start without investing a single penny.
“Essentially, you have your inventory in your own closet that you already paid for,” she said. “Also, thanks to today’s technology, there are multiple platforms where you can list your items, so there is no immediate need to build your own website.”
Chong added that often, it’s not the technical strategies that get the business moving but the practical and everyday deliverables that you need to learn to start a reselling business — such as photography, pricing, sales strategies and customer service.
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