3 Things to Know If You Want a Side Gig

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If you need to generate extra income for any reason, working a side gig is a great option. You don’t need a lot of training or qualifications to work a side gig, so this is a good way to replace income if you have lost your job or been unemployed for a long time. Before you commit to working a side gig, here are three things you need to know, courtesy of FutureSTRONG Academy.

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1. There Are Many Types of Side Gigs: 

One study shows that 36% of Americans currently have a side hustle. There are many ways to work a side gig. You could work for another company by generating high-quality content for websites, picking up and delivering restaurant orders, shuttling the people around town in your personal vehicle, or buying groceries and delivering them to people in need.

You likely also have marketable skills that you can turn into lucrative side hustles. One example is traveling. If you travel a lot and have extensive knowledge about the industry, you could work a side gig as a travel agent. Another example is you can find work as a translator if you are fluent in another language like Korean. If you want to work as a translator, you can create an online profile for potential clients to view. They can make a decision whether to hire your Korean translation services based on the language you work with, your rate, reviews, and experience.

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2. You Can Turn a Side Gig Into a Business: 

If you pick up a side gig that you truly enjoy and generate a lot of income, you may want to consider turning the job into a full-blown business. As with launching any type of company, you’ll have to put a lot of hard work and dedication into making the business a success. Forming a limited liability corporation is one way to set your new company up for success.

Not only does this business structure require minimal paperwork, but it is also flexible, offers tax advantages, and protects you from lawsuits. If you decide to turn your side gig into a company, make sure you draft a business plan before forming your LLC. There are various rules regarding LLC formation in different states, so do research and make sure you comply with all restrictions for your locality. A formation service makes the process smoother.

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3. You Need to Research Side Gigs: 

Because there are so many types of side gigs, you may not know how to start looking for one. There are also many scams out there, so it’s important to do your research to ensure you find a job that is legitimate and worth your time. An online search can give you an idea of which side jobs are available in your area. You can check out reviews online to ensure the company is legitimate. You may also be able to pick up work by networking with people in your community and working face to face. Finally, some side gig employers post job opportunities online so that you can apply on job boards.

Working a side gig can replace lost income and help you earn a living. However, there are many types of side gigs, and you need to do a lot of research to make sure you find a legitimate one. Make sure you know these three things so that you are ready to look for a reputable side gig when you need one.

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FutureSTRONG Academy believes that every child has potential. They just want to be told so by loving and caring adults. Call 678.310.5025.

Image via Pexels

Article Author: Elijah Dawson

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If you’re not careful you can follow your passion right into poverty. ~ Srini Rao

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