The Side-Hustle Starter Kit for Students

For all the ambitious students out there, this article is for you. DON’T FORGET to think about these things before you launch your side gig.

It’s become quite a trend of late: Entrepreneurship

Add that to the fact that you are a student and a little bit of extra cash goes a long way, it sounds like the dream come true.

University is one of the better times to start up a side-hustle. You have arguably the most freedom you will likely get before getting involved in the 9-5 scheme, and you are surrounded by a whole bunch of aspiring professionals

There is no shortage of ambition in your immediate surrounding environment. 

One couldn’t ask for a more conducive environment to be placed in when looking at building-up a side-hustle. 

Besides the benefit of being placed in a conducive environment, there also isn’t necessarily any pressure placed on your shoulders

1. It’s a side-hustle, not entirely an entrepreneurial venture.

2. You will still be at university to work towards getting your piece of paper.

One of the few downsides to a failed start-up is possibly recovering zero of your start-up costs. 

Apart from that though, you’ve got ‘nothing’ to lose. 

With ‘being your own boss’ having such an established presence at the moment, the web is overpopulated with ideas for student side hustles, yet not many provide insight on things to consider before launching your side gig.

So that’s exactly what this article is going to aim to accomplish: things to consider before getting your hands dirty with the construction process of your startup. 

That said, the first thing you will want to do is 

ASK YOURSELF THIS QUESTION

Why do I want to build my side-hustle? 

It wouldn’t be a surprise to hear that you have been somewhat influenced by all those countless entrepreneurship gurus across the internet.

But go beyond that, dive deep into your motivations behind wanting to create another income stream for yourself. 

If you can successfully outline this question, then you can direct the vision you have for your hustle. 

Having a vision is crucial to the success of your goals. 

Without vision, you won’t be able to correctly align your goals with the message you want for the ‘brand’ to carry forward as well as the atmosphere and feel to it. 

Don’t rush this first step. Take all the time you need to get your road-map crystal clear

But most importantly, by being real with yourself you will quickly be able to determine whether or not you are just jumping on the bandwagon or if you have somewhat ‘purified’ motives behind your drive. 

post-it note on pin board with what is you why written on it

Now that you have your ‘’why’’ mapped out, ask yourself 

THE SECOND QUESTION

You’ve got the ‘’why’’ now you’re just missing the what

What do I mean by ‘’’the what’’? 

Your passions

Figure out what you’re passionate about. 

The benefits to syncing your hustle with your passion/s are endless, but the major ones include: 

  • Being able to accomplish an authentic feel to your gig. Remember what we were saying earlier about ‘purified’ motives?!
  • Secondly, when the ‘tough times’ come knocking – and they will – having that innate drive to want to do something will help you keep at it and prosper through the adversity. 
  • Lastly, if you are passionate about something then it makes sense that you would naturally know a fair bit about your chosen field. Being knowledgeable about a field helps establish credibility and assert your authority within the given field. 
what are you passionate about is written on a road sing
Advertisements

Enough questions, now it’s time to start 

PLANNING OUT YOUR IDEA

Right off of the bat, you’re going to want to be prepared for a long process

Like a very, very long process

Seriously don’t underestimate the time that this step is going to consume. 

There is a high likelihood that – if you are ‘really’ planning out your idea to the T – that this section of the job will become frustrating

This will be because you’re going to feel like you are making zero progress

But just like we said earlier, don’t rush the process. 

This part is going to be the most important because once you do launch, you’re going to hit the ground running

You won’t want to be playing the chasing game. That will be a one-way ticket straight to taking an ‘’L’’. 

Now as frustrating as what this process might become, you will thank yourself once you launch because with launching your gig comes another wave of stresses

Planning helps to best reduce the stresses you will experience. 

Though as important as planning is, just remember that you are not going to put together a flawless plan

Trying to perfect every little detail is going to eliminate any possibility of actually executing your idea. 

Put in the grind and then go with the flow.

diary, coffee and flowers are on a white table

One of the first things you might want to consider when planning your idea is it’s 

FLEXIBILITY 

To win the jackpot you’ll want for your studies and side-hustle to be able to co-exist

The lesser the demand that your side-hustle places on your studies the better. 

Why?

It’s a ‘’side’’ hustle, not an entrepreneurial venture. 

We are not looking to start-up a business – at least not immediately – but rather just keep our bank account stimulated

Also, there are going to be times when you will need to compromise one for the other and you want to be able to do that and not be stuck between a rock & a hard place. 

If your idea is proving to not be the most flexible don’t just knock it entirely, play around with the idea and see how you can try and re-angle it to better suit your schedule. 

silhouette of a woman juggling 3 balls
Advertisements

In a different sense of the word – flexibility – you also want to consider the 

ADAPTABILITY OF YOUR IDEA

Right now, the world of business is caught up in quite an aggressive period of change

The business world was inevitably going to shift & change, but COVID-19 has certainly catalyzed the process. 

With this in mind, you want to ask yourself if your gig is going to be able to adjust relatively easily or not

The business world is ‘gradually’ turning a cold shoulder on physical aspects. 

It is being re-defined by a digital accent

How does your side-hustle account for this transition process? 

men shaking hands with a binary code filter over the image

Now that we’re on the topic of adaptability, we need to look at the 

FUTURES OF INDUSTRIES 

We are living through one of the greatest technological tidal waves that mankind has ever seen. 

Anyone or anything that is going to choose to bet against tech will lose

Technology needs to be embraced

It shouldn’t come as a surprise to you that this tsunami is going to challenge and drown a fair-few industries

Be wise in your choice of industry. 

The value of clearly defining your industry will help you to accurately plan & execute your marketing strategy.

You will also be able to identify your target market & fellow competitors

On the topic of competitors though, if you can identify these key figures in your niche then you can use them as lessons to learn from. Find what it is that they do well and then add your signature to the ‘secret’ recipe.

little child's feet in front of a line with future written on it on the road

 

We have already hinted towards the point of establishing the 

SHELF-LIFE OF YOUR IDEA

By this, I am not just talking about external factors that will influence the timeline of your hustle. 

No no. 

Right at the start, we spoke about why figuring out your ‘’why’’ was crucial, because it quickly determines if you are trend-hopping

If you knowingly go trend-hopping then once your honeymoon period is over, your side hustle will soon crash & burn

Be honest with yourself about the level of commitment you’re willing to show towards this gig of yours. 

And even if you are trend-hopping – like producing face masks for instance – it won’t be successful unless you are committed and put in the work

decide commit focus succeed on wooden blocks with an ocean bacground
Advertisements

Now that you’re ready to get out of the starting blocks, it’s time to 

LOOK AT FUNDING 

The key realization to come to terms with is that it takes money to make money

You will need to plug in some capital if you have any hopes of building up your side gig. 

But how much is it going to cost

Well, that’s where the research part comes in. 

Start-up funds are not always the easiest to get your hands on, but luckily for you, you would’ve done sufficient planning to be able to confidently pitch your idea to someone else if you need to have some financial help. 

Related: Money Making Mindset for Students

money bag in a persons hand with a blue background

THAT’S A WRAP 

The world of business is quite exciting. The thrill of the pursuit of making your dreams come true is quite exciting. 

I hope that you were able to get some worth out of this and possibly gain a little more insight about things to think about before starting a side hustle. 

I WANT TO KNOW FROM YOU:

Why do you want to start a side hustle?