On today’s Business Beat, Jeff shares Zapier survey results showing 2022 is shaping up to be a boom year for people pursuing side hustles.
Tune in below for statistics and tips to get your side hustle going:
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Good morning, Paul! Today on the Business Beat, everyone is asking these days, how do I beat inflation? How do you beat it? You bring in more money each month, that’s how. How do you do that? You get a side hustle, a business on the side that allows you to bring in some extra cash each month so you maintain your lifestyle and perhaps even better it.
2022 is shaping up to be a boom year for people pursuing side hustles. In a recent survey by Zapier, reports that as many as 40% of Americans now have a side hustle of one kind or another, and more than 36% indicate that they are actively planning to start a side hustle this year as compared to just 1 in 4 Americans in 2021. Further insights by the study? More men are active in side hustling than women, 44% to 37%, and Gen Z, that is 18 to 25 year olds, are more active with side hustles than our older demographics.
Now, some really good news. The average time spent on an average side hustle is less than 10 hours per week. And Americans who have a side hustle average an additional, roughly $13,000 more in income per year, more than a thousand dollars per month of additional income. And who couldn’t use that.
And here’s the best news of all: Due to advancements in technology, there are more tools and platforms available to you today than ever before to help you start and execute your side hustle. Here are quick tips: Focus on starting a side hustle relating to something you love and are passionate about whether a product or a service; make your online presence your primary focus; launch an e-commerce business of one kind or another or use your website to help drive traffic using search engine optimization; use platforms like Shopify and sell and market on platforms like Amazon, eBay and or Etsy; lastly, given your passion for what it is that you sell, you can naturally and organically drive customers to your business by writing a blog, executing a regular podcast to establish your expertise and build relationships with your customers, prospective and current. And of course, pursue social media marketing to get the word out.
The most important thing you can do? Don’t put it off. Start now.
I’m Jeff Sloan, founder and CEO of startupnation.com and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.