If you’re reading this, you already know a thing or two about the power of the side hustle. These genius money methods are the best way to earn a little extra on your terms. There are now viable side hustles in near enough any form you can imagine. Those who want an easy life have the option of selling goods online or at a car boot. Those with writing dreams can make money through blogging. If you have a latent passion, you can bet there’s a side hustle to suit that need.
But, getting stuck into something like this isn’t all roses. Plenty of people make side hustle mistakes so severe that they’re never able to hustle again. In extreme cases, going wrong can leave you with less money than you had when you started. That’s the opposite to what you want, and it’s a reality you should avoid at all costs. Keep reading to find out about the main mistakes people make, and the repercussions of each.
Selling substandard items
An astounding amount of people think they can charge good money for substandard items. In fact, this is the basis on which some sellers start their side hustle. All the better for the highest returns, right? Or not. In reality, selling substandard stuff is bad news for obvious reasons. For one, it leads to terrible online reviews. Try this at a car boot, and you could even find yourself facing a blacklisted status. Besides which, most selling sites now have security measures. These mean you would need to offer both a refund and a token payment for the trouble you’ve caused. And, you know what that means? Less money than you started with.
Attempting to cut corners
Many people also trip up in attempting to cut corners with their side hustle. Most commonly, this takes the form of not declaring this extra money on their tax returns. That’s a major no-no, as it can lead to fines and even legal action in extreme cases. It may be extra money, but it’s still money you’re earning. Along the legal vain, many side hustlers also fail to get the legal papers they need to operate. They figure that they can get away with accepting side hustle clients at home without premises liability. Some even attempt a manual side hustle like car repairs without first taking precautions with something like the One Sure Insurance for auto traders. Neither of these issues seems that big of a deal, but they could each land you in legal hot water with hefty fines to boot.
An unprofessional attitude
Lastly, many side hustlers fail to bring a professional attitude to their pursuits. They may take a long time to reply to customer queries or fail to send ordered items. While this mistake might not leave you out of pocket, it does ensure you receive bad reviews. These could put an end to your side hustle over time. As such, even this could see you missing out.