5 Awesome Side Hustles When Business is Slow

2 Mins read

Business is synonymous with unpredictability.

It’s not uncommon for your business to thrive for a while before taking a dip and vice versa.

This makes it important to always be on the lookout for additional income earners that can hold you over the slow periods.

is your business slow

Shutterstock Licensed Photo – By fizkes

If you are not awash with ideas, here are some income-earning activities to consider.

1. Teach Skills

If you sell art or run a bakery, for example, you possess skills that are transferable skills.

If you find your sales are below par, you can then use the slow periods to teach a few classes. You can do this physically at your premises or create an online course.

To get started, begin by advertising your classes to your circle before moving out to the public.

Take advantage of social media to spread the word as well as public notice boards and any other platforms that will help get the word out.

2. Forex Trading

If you are good with numbers and information analysis, Forex trading can be a lucrative venture.

Learn as much as you can take tutorials and ensure to have a sound understanding of currencies and what affects them.

Once this is done, open a demo account and do as much practice as possible until such a point when you are confident enough to trade will real money.

Still, start small and build your skills and trading capital gradually.

Similarly, get a sound understanding of the different trade types so as to find one that aligns with your personality as well as the free time you have away from your business.

3. Coach Upcoming Leaders

This is an excellent option for people who are passionate about mentoring others and have a substantial amount of working experience, ideally in management.

As a leadership coach, your role will be to offer one-on-one advice and customized professional support to your mentees.

If you are keen on becoming a leadership coach, find a reputable institution that is accredited by the Chartered Management Institute (CMI) or the Institute of Leadership Management (ILM).

Your clients will come to you for advice on professional and personal development. Most of these will be supervisors, team leaders, executives and business owners.

To succeed in this, you must polish your organizational skills. This will ensure that your scheduling is error-free and that you are able to run your business and the coaching seamlessly, without one affecting the other.

Start a Blog

While this is unlikely to make you quick money, starting a blog can make you good money in the long term if you commit to it.

The good thing is that you can blog about anything. If you are passionate about what you do, you can blog about issues in your line of business.

In time, start looking for ways to monetize your blog. You can do this through affiliate marketing and ads.

This can also help grow your business by increasing its visibility and giving you more opportunities for conversion.

Teach English

If you speak another language like French or Spanish well enough to teach it, give it a shot. If not, there are plenty of people around the world that are keen on learning English.

The best part of this is that there are numerous English, remote tutoring opportunities available.

You might have to work through an agency. Ensure to shop around and see which ones give the best terms.

It’s All About Flexibility

As you can see, opportunities are all around as long as you remain creative and flexible.

You never know, some of these ideas might even make you better income than your business, or good enough income to make it worthy of becoming a permanent income earner.

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About author
Ryan Kh is a big data and analytic expert, marketing digital products on Amazon's Envato. He is not just passionate about latest buzz and tech stuff but in fact he's totally into it. Follow Ryan’s daily posts on Catalyst For Business.