If you have ever stayed up all night stressing out about how you are going to pay your rent the next week or trekked halfway home because you couldn’t afford the bus, then you know that being broke is not a joke.
While running out of cash is a common experience for most people, it is escapable. In many cases, a lack of financial planning is the reason why a person’s pockets get cleaned out regularly.
Human needs are inexhaustible and money is almost always insufficient and seemingly hard to come by. With the current rise in the cost of living, the best way to afford some luxury is having multiple streams of income or having a “side hustle” as we popularly call it.
How to Get Your Side Hustle Started
Side hustles are not only a great way to increase your income, but also to diversify your professional experience. In many lucky cases, side hustles grow so successful that they become full-time jobs.
Here are four steps you can take to successfully start a side hustle:
- Identify your major skills or your areas of interest.
- Once you have identified your skills, dedicate your free time to creating a business or action plan.
- Dream big, but start small. Now that you’ve created a plan, act on it, focus on getting the first customer.
- Make financial plans on how to fund your new business.
Worried You Have Insufficient Capital?
If you’re lucky, your financial plan for your side hustle won’t be too complex in the initial stages. For everyone else, setting up a business requires money. Before your side hustle can become profitable, necessary investment is needed - you may need to purchase supplies and/or material, hire some assistance or pay for some professional help.
If you are worried about where you’ll find the money to fund your side hustle, why not consider getting a loan? Getting a loan from Paylater makes it easier for you to start and keep your business running.
Get Instant Loans For Your Side Hustle
With Paylater, side hustlers like you can access to up to 1 million Naira in loans without collateral, guarantors or paperwork loans.
The app is easy to use and loans can be applied for via the Paylater App at any time of the day. Once your loan has been approved, you receive it within minutes.
Don’t let your insufficient funds stop you from achieving your dreams, download Paylater and take your side hustle to the next level.
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