How To Build a Digital Side Hustle in 2023

In economic downturns, it can often be the case that a 30-solitary income for a person is not enough. With rising bills and living costs, expenses that can come suddenly with life changes, and an unhealthy dependency on a 9-5 job putting more stress on someone, it is no shock that lots of people are looking for side incomes to alleviate the pressure.

A side hustle through freelancing can be more than just something to help with your weekly grocery shop or allow you to afford the finer things in life – it can often be a world changer for people, showing them a way out of the 9-5 grind and an opportunity at financial freedom and generational wealth.

When the right amount of effort and dedication correlated with the same amount of success, many people can often prioritize their side hustle more, sometimes becoming a business or agency that stems from their freelancing.

The reasons to start a digital side hustle in 2023 are endless – all you need is a computer, an internet connection, and consistency to make it happen. Here are the best ways to start a successful digital side hustle in 2023:

Build, Network and They Will Come

In today’s digital world, having a strong online is pivotal to a digital side hustle and success. Whether it is creating a LinkedIn page and reaching out to potential clients or joining freelancer groups on Facebook, doing this kind of networking is a net positive in building up connections and pathways to potential business. It was recently found that the freelancer economy surpassed 70.4 million workers in the US, meaning that there are more than enough like-minded individuals for you to collaborate and partner with.

Making sure that you create and build an online presence will be a key determining factor in how good your digital side hustle can be. WordPress offers easy ways to create a professional-looking business website, whilst it is very easy to find social media posting and scheduling tools that allow you to align your content and marketing across all channels consistently. If you have issues around the web hosting, for example, you are struggling to pick between Contabo vs FastComet, fortunately, there are reviews out there that allow you to do your due diligence. 

Research, Research, Research

You should take the time before you start to look introspectively and think about what you are good at, what you like doing, and what can provide value for people. Is there something that you could turn into a business? Create a list, and research these skills into the rates they charge and the scarcity in other providers to find the perfect skill for you to set for.

Taking a look at an industry and recognizing how you can help is key – if you are a talented marketer and realize there’s a distinct lack of content in the biometric industry, you can decide to pitch to companies that work in that space.

Afterward, you should be looking at the market to gauge the type of demand and even start to look at where you can find your first gig. Deciding on how you can be unique is important – you need to stand out from the masses and make sure you are positively different. 

Targets, Goals, and Benchmarks

It’s important that when you start your digital side hustle, you understand what you want to get from it. By doing this, you can also start to plan how much resources and time you will put into it, as well as begin creating short-term and long-term OKRs (Objective Key Results) to make sure you have a roadmap ahead of you.

What do you want to achieve with your business? Are you looking to make a particular amount of money each month, or do you have a specific target audience in mind? Setting specific, measurable, achievable, relevant, and time-bound (SMART) goals and OKRs can help you stay focused and motivated as you build your digital side hustle.

Have a Business Plan

A strong business plan is essential for any successful side hustle. Your plan should include a detailed description of your product or service, your target market, your marketing and sales strategy, and your financial projections. You can build on these by creating things like a website and social media channel to promote your product or service, as well as internal dashboards on Google Sheets to monitor your financials, OKRs/SMART targets, and any client contracts or information.

Never Stop Learning or Upgrading

Creating a profitable and successful digital side hustle takes an incredible amount of time and dedication. Whether it is putting in the hours in outreach or leveling up your skills through doing more online courses around your skillset, you need to always be raising the bar to land clients. 

You should take note to spend time researching industry trends and developments as well as always collecting feedback and advice – pairing these things together can help give you a better insight into what is required to get business.

Starting a digital side hustle can be a rewarding and exciting experience, and with a little hard work and dedication, it’s possible to turn your skills into a successful business, and for it even to become the thing that elevates your life to a new financial level.

Have you read?
Which are the healthiest countries in the world for 2023?
Best Business Schools In The World For 2023.
Managing the Authoritarian Business Risk by Dr. Joe Zammit-Lucia.
Winning Through Recession Needs a Different Approach by Payal Nanjiani.
Why Your ESG Strategy Needs to Apply to a Younger Generation by Jane Marsh.
Three Words for 2023 by Leo Bottary.