8 Side Hustles to give a try in 2021. (Youth Empowerment)

By Yuvenalis Wakoli. (Founder & Owner of Venali)

2020 was quite a tough year to everyone and it led to many people lose their jobs. This made many people to shift in their side hustle or start a side hustle inorder to cater for their financial needs. If you reading this and you have not yet started a side hustle, then it’s not that late, 2021 is your year.

A side hustle is any type of employment undertaken in addition to one’s full time job. A side hustle is generally a freelance or piecework in nature providing a supplement income.

A side hustle is more than just another stream of income , it’s also the new job security. When you receive paychecks from different sources, it allows you to take more chances in your regular career. More income means more options. More options equals freedom.

You don’t need an entrepreneurial experience to launch a profitable side hustle. You don’t have to have an MBA or know how to code, or be an expert marketer. You don’t need employees or investors. What you need is an idea, some time and the determination to see your dream through the end. If you can make it work, the financial rewards can be well worth your time.

Here are 8 Side hustles that you can venture in that will earn you a good amount of money hence becoming a respectable member of your community or the people around you.

1. Fast food restaurant.

This is one of the best hustle to venture in as people have to eat. Since youths find the joy in fast food meals, having a restaurant that carters for their needs will bring the necessary financial muscles you need to develop. A nice strategic location eg near a University, Collage or Polytechnic will play a key advantage in advancement of your business.

2. Executuve salon and Barber shop.

People have to be neat, tidy and presentable and hence one has to visit a nice salon or barber shop inorder for their hair to be trimmed. You can employ a few personnel to work for you as you work on your main hustle. This business pays that well if you get a nice strategic location.

3. Selling clothes and Accessories Online.

With the advancement of technology, people nowadays are buying online products because they are easily accessible. You can sale your products online either through Kilimall, Jumia, Jiji etc or through social media pages eg Facebook, Instagram or twitter. Selling online can earn you money without breaking a sweat. Plan your time well and be consistent with your service. Give it a try and thank me later.

4. Farming.

Yes, I mean Farming. Farming entails planting of crops and rearing of animals. The idea of farming has been shunned away by people especially youths but if you give it a try you won’t look back. It is among the hustles with few competitions and chances of gaining large amount of money is that high.

You can begin by rearing Hens or any other poultry with quite a good number of them, you can sale them at profitable prices. If you got a piece of land you can go ahead and plant various vegetables and fruits then afterwards sale them at your home town or at your grocery. Quite a good idea? Yes!. Try farming.

5. Blogging.

Blogging is all about writing contents on topics/niche you are intrested in. The income range for bloggers is quite dramatic. This is because it does not cost much to start a blog, so the entry barrier is low. More effort is needed to earn than most people believe, so many blogs dont make money at all. (But not for you). However those who keep going and maintaining consistency have the potential to make thousands and even millions of dollars.

You can earn from blogging through Affiliate marketing, Advertising, offering services eg free lancing, social media management etc or you can also earn through selling digital products. Find your niche and start blogging.

6. Movie/PS shop.

A movie shop is one of the best businesses to venture in. Despite the growing rate in the business it still stands tall as the business will earn you a good sum of money since people watch movies daily. A good location near or around the university, collage, polytechnic or KMTC will earn you many customers as students love to watch movies and series.

7. Grocery.

When i talk of a grocery, many will think about ladies. No! Men too can come up with a grocery. This involves selling of vegetables and fruits. Grocery pays well as people will have to buy vegetables or fruits daily. Getting a nice location will help bring you many customers. Tell your close friends within about your grocery. They will be coming and supporting your hustle by buying your groceries.

8. Selling smokies and boiled eggs.

It is one of the growing business and I bet you won’t regret venturing in to this business. People have a taste in smokies and boiled eggs and i promise you they will buy your products.

The good thing with this hustle is that you not only located in one place but you can move around as you sell your products. This business works well in market places and towns. You can earn a good sum of money with this hustle.

Their are many hustles you can venture in but this are just but a few that I came up with. Come up with something that you got a passion in and keep moving while maintaining consistency in what you do.

Great business leaders create a vision, articulate it and relentlessly drive it to completion. They got the ability to follow through even during tumultuous moments and persevere until fruition.

I wish you a Happy and prosperous 2021 full of blessings as you prepare to come up with a side hustle. Good luck!.

6 Essentials of Investment.

An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in value at some point in the future.

Here are the 6 Essentials of investment.

1. Any type of investment requires vision and realism to ensure that the proposed venture is both viable and feasible, ie. It will result in financial or economic benefits that outweigh costs, and is technically achievable.

2. Selection of the right project is paramount. The right project should be one that is viable, feasible and something in which the investor has interest and some knowledge about.

3. Once a decision is made to start a business has been taken, the implementation should be carried out without undue delay and according to a well laid down plan.

4. The identification and engagement of suitably qualified and competent personnel right from the initial stage is important.

5. All funds should be firmed up at the project planning stage and especially sufficient cash provided. Where funds have been borrowed, the lender is your co-investor and must be kept well informed of the progress and problems.

6. Investments are especially long term. One must be willing to delay immediate desire for consumption as this could jeopardize the investment. A demarcation should also be kept between business and personal transactions.

Reference.

Gethaiga Kibuka – GOING into BUSINESS FOR your SELF!