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Looking To Start A Side Hustle? Ask Yourself These 10 Questions First

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One income stream isn’t enough for many people to make a comfortable living these days. Luckily, there are a myriad of ways for a working professional to make money on the side—so many, in fact, that it can be difficult to settle on just one. 

If you need to start a second stream of income but are having trouble determining how you want to do it, answering a few crucial questions can help set you on the right track. Here, 10 members of Young Entrepreneur Council share some of the most important questions you can ask yourself to figure out the best side hustle for you. 

1. Can it become my full-time hustle?

Ask yourself, “Can my side hustle become my full-time hustle?” Some of the world’s most successful companies started as side hustles. Salesforce’s founder built the tool while holding down a full-time gig with Oracle—a job he only left when his company started becoming an Oracle competitor. If the goal of spending your spare time working is to become more independent, ensure there’s sufficient growth potential. – Mark Stallings, Casely, Inc.

2. Why do I want to do this?

To see a side hustle through, you need a big “why.” Otherwise, you’ll run out of steam midway, effectively wasting all that time and money. Ask yourself “why” you want to do this. Then, given your answer, ask again, “Why (is that important)?” Continue this process until you either no longer want to do it, or you’re so fired up about it that you can’t help but start working on it immediately. – Jonathan Sparks, Sparks Law

3. What can I see myself doing long term?

First of all, ask yourself what you can see yourself doing long term. Remember, you need to work at a side hustle at least a little bit every single day. If you can’t stand social media culture, for example, consider a different facet of online earning. Don’t assume you can bring your own discipline into any pursuit. It’s far more sustainable and easier on your sanity to pick one you truly enjoy. – Tyler Bray, TK Trailer Parts

4. When do I want/need to start making money?

When choosing a side hustle, it’s important to determine when you want to start making money. This will factor into how much time you have to build on your talent. Certain skills take longer to master than others, so planning ahead is a good idea. – Stephanie Wells, Formidable Forms

5. How much time must I devote to it?

Side hustles take time. There is no such thing as truly passive income. The most important question to ask yourself is how much time you must devote to making your side hustle successful. Once you know your time constraints, you can choose a side hustle that’s right for you and aligns with your career path or meets your personal or professional goals. – Jared Weitz, United Capital Source Inc.

6. How will this impact the flow of my days?

With so many ways to start a side hustle today, the hardest part can be finding a good match for your preferred lifestyle. After starting multiple businesses, I’ve found the most important factor for success is how well the daily work meshes with the natural flow of my days. So, I think it’s wise to ask, “Will this side hustle contribute to the flow of my days or clash with it?” – Richard Fong, PageKits.com

7. Does this make the world a better place?

Ask yourself, “Does my side hustle make the world a better place?” If so, the likelihood of your side hustle being successful is stronger. Customers can sense that sincerity—the sincerity that you really want to help people—and will be more likely to be on board with your side hustle and find value in your products or services. – Blair Thomas, eMerchantBroker

8. What looks like work but feels like play to me?

A key question to ask is, “What looks like work to others but feels like play to me?” This is the question that you should ask when starting a side hustle. Ponder on what you are passionate about, what makes you happy and how you can serve a community or a niche by doing it. – Alfredo Atanacio, Uassist.ME

9. What can I offer that nobody else can?

Ask yourself, “What can I offer that can’t be offered by anybody else?” This is the first question you need to ask yourself. It helps you distinguish yourself from others, figure out if you need to upskill yourself and whether you’re looking in the right direction. You want to step outside of the box and offer something unique. So, use this question to define what you should do. – Blair Williams, MemberPress

10. Am I able to find joy in the hustle?

Ask yourself if you are able to find joy in the hustle, even in aspects of it that are administrative. If the side hustle does not bring you joy, you should consider something else. Getting a side hustle should supplement your happiness and fulfillment if your job does not. Realistically, the question you should ask is, “Can I make my day more fulfilling in either my work or my free time?” – Matthew Capala, Alphametic

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Experts weigh in on how ONDC is set to transform the ecommerce business landscape in India

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The Open Network For Digital Commerce (ONDC) is not a platform. A platform suggests that to transact, everyone has to be in a closed loop. ONDC by design is a network of networks. So it is completely open access, it’s unbundled and interoperable,clarified Thampy Koshy, CEO, ONDC, dispelling some of the issues in the minds of businesses around ONDC.

Thampy highlighted that ONDC is not a platform but a list of protocols enabling the exchange of products and services. There is no central platform; it only allows multiple platforms to talk to each other. Anybody who has a product or service to sell can make it available in the open network that any smart buying platform can access. Thampy was speaking at a panel discussion titled ‘The network effect: ONDC & India’s ecommerce’ at TechSparks 2022. Other panelists included Anjali Bansal, Founder, Avaana Capital & Steering Committee Member, ONDC and Kumar P Saha, Founder, ndhgo.

The interoperable network has started its beta testing process with categories like groceries, food and beverages for small retailers in Bengaluru. ONDC plans to add home and kitchen, agriculture, fashion, apparel, footwear and accessories across India by the next few months. The ONDC pilot is currently up in about 80-85 cities.

Opportunities for smaller sellers

As a buyer or as a seller, it’s your choice as an individual or a small business or a large business, who you choose to transact with. Think UPI, but UPI with physical goods and services. So of course, there is a much higher degree of complexity,said Anjali.

The network, according to her, is meant to be a public good. It’s meant for many entrepreneurs and founders, just like how UPI generated a whole set of new business models, ONDC, she hopes will generate a similar set of new business models that will create enormous consumer value, shareholder value and eventually national value.

Kumar believes ONDC will not just be restricted to the MSMEs. I think it will be equally big for the enterprises and large businesses. And this is just the beginning, he said.

Hyperlocal and kirana is where we have started with because I think that has a very immediate consumer effect and visibility. But the full power of the network of ONDC absolutely applies to large enterprises to mid-sized enterprises and consumers and kiranas,said Anjali.

Ensuring consumer trust in the network

Any network participant who wants to be a part of ONDC, Thampy outlined, would have to first undergo a certain set of due diligence – who they are, what kind of business they are in, what’s their credibility and so on, so forth. Secondly, they have to ensure that their IT systems are certified by the team who’s developing the entire protocol. Third is that they define a network participant agreement, which is common for everybody. It’s not a negotiated agreement, whether you’re a large entity like a bank or a financial institution, or a small startup – all views on the same network agreement which binds you to a certain behaviour in the network.

And this network agreement will also include as its part the network policies as existing today, and as they evolve from time to time. These policies are essentially how they have to behave among themselves and with the outside world. And this is also digitally trackable, so it’s all part of the protocol itself. Failure to adhere to the policies will lead to penalties and suspensions.

While you are in a network, whether you’re a seller platform or a buyer platform, your performance in the network is continuously tracked and rated, and it’s available to the whole world. Once you are there as a business and have established your credibility with your GSTN number, pan number and so on, you are a tracked person to the community as a whole,added Thampy.

Most people come into business to do business in a sustainable way, said Kumar. You live and die by your reputation. So if you build a reputation for good quality, you’ll get lots more business, and if you develop a bad reputation for bad quality, you don’t get business,he added.

Setting a global example

Ecommerce is a global problem, where everybody is trying to find a solution. For instance, the American economy is trying to find solutions over regulation by developing the American Innovation and Choice Online Act. Similarly, Europe is trying to ensure fair and open digital markets with the Digital Markets Act. But India is showing a global example,said Thampy.

India is trying to use technology and markets with enabling policies, which is a truly democratic method. India showing how to use the market to the big capitalists in the world is a fantastic global example,he concluded.

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Experts deliberate on technologies leading to the rise of gaming and content in India

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Technology is seeping into every aspect of the world and online gaming is no stranger to it. Over the years, online gaming and esports have been through a lot of changes and today this industry is more advanced and progressive. Technology has enabled a variety of changes which is why online gaming continues to grow in popularity.

To discuss these new-age technologies in depth and how they are changing the gaming landscape, a panel discussion was held on Playing to the fantasy: Rise of gaming & content in India at TechSparks 2022 featuring Gaurav Barman, Senior Business Development Manager, AWS; Vinayak Shrivastav Co-founder and CEO, VideoVerse; Ranga Jagannath, Senior Director – Growth, Agora; and Ratheesh Mallaya, Director of Products, Zynga.

Here are some of the key highlights from the discussion:

Tech enabling the growth of esports in India

The panel discussion started with understanding the rise of esports gaming in India. Despite being around for more than a decade, it’s only recently seen a boom in popularity. The current size of the Indian esports industry is Rs 250 crore and the forecast for the compound annual growth rate (CAGR) is expected to be 46 percent in the next four years. The esports industry is expected to see a growth of four-folds estimated to be Rs 1,100 crore by 2025.

Technology is a major propelling force that’s driving this rise. Gaurav of AWS shed more light by discussing a few of the technologies that AWS provides that help in building more interactive engagement for esports and gaming platforms.

Esports companies in India can build engagement, which is much more interactive by offering players the ability to communicate with each other beyond linguistic or geographical boundaries. This can be done by providing multilingual, real-time, translation across geographies. Companies can also build real-time recommendation systems in terms of feed that the user sees, said Gaurav.

Vinayak of VideoVerse spoke about how technology that aids in the production of short-form content is going to play a key role in driving the popularity of esports.I think what’s important for all of us to see is that e-gaming as an entire market is just continuously changing. It’s going to continuously keep evolving over the next couple of years, he said. In such a scenario, Vinayak believes that the services that VideoVerse provides with their flagship product Magnifi will play an important role in amplifying the entire ecosystem.

Magnifi uses state-of-the-art AI and ML technology to auto-produce key moments and highlights from live matches within seconds. Such kind of short-form content is what Vinayak feels is the need of the hour and will drive the growth of the esports market as well.

Hits and misses in the industry

The panelists further deliberated what has been working well for the gaming industry and what has tanked completely. Ranga of Agora spoke in detail about real-time engagement and how greatly it has benefited the gaming landscape.

What we’ve seen is that apps and games which have embedded technologies that are truly real-time tend to be able to monetise much better and significantly more, as compared to games that either don’t have real-time engagement, or they have laggy real-time engagement. Games that have real-time engagement also tend to be more active with better user retention, he remarked.

He further explained that it doesn’t just stop at real-time engagement, but the ability for gaming companies to analyse what’s happening in that real-time engagement is what is working in their favour.

While it’s important to know what is working for the esports landscape, it’s even more important to understand what’s not. Ratheesh shared some pearls of wisdom from some of the failures that Zynga has faced.

When you’re looking to build local, there is definitely a big opportunity out there. But that has to be on top of a really strong core that is fun and engaging for the users. We launched a game around the time of Independence Day in India based on a match game, but it did not turn out the way we wanted it to because of this reason,he said.

Ratheesh highlighted that there is a great scope for games with Indian IP and in fact, according to a recent report, about 60 percent of the audience that doesn’t play games have said they will play if there is an Indian IP. But just building a game on something vernacular or Indian IP will not work out. He also pointed out how games that are currently top-grossing like Garena Free Fire, Coinmaster, and Candy Crush all have great visuals and quality and that’s what is enticing users to stay hooked on the game.

Talking about other hits, Gaurav emphasised how Web3 technologies and blockchain will hugely benefit the industry. Gaming companies are now looking at making digital assets interoperable and with the advent of the Metaverse, an entire make-believe world is possible where players can socialise, connect, and share content beyond the scope of gaming.

From my perspective, technology is going to play a pivotal role in the evolution of this industry. Be it blockchain, NFT, or metaverse, all of that will come together as a platform where interoperability is enabled through underlying technology and used to build these solutions at this point in time, he said.

Along with Web3 technologies, Vinayak shared how cloud-based video editing and streaming solutions will become pivotal for the overall growth of the ecosystem as they’ll make broadcasting, editing, and collaborating with peers in the industry much easier.

Microtransactions in the gaming industry

The panel ended by discussing microtransactions in the gaming industry where Ratheesh shared some useful insights on how transactions and in-app purchases have to be tailored according to the genre of the game. There are different monetisation strategies like subscription-based model, battle pass kind of monetisation strategy or an impulse buy. Those are all options available to you. But what strategy you deploy depends completely on the genre of the game, he shared. He also suggested that microtransactions on gaming apps must be personalised to the users’ needs and that they must be pivotal in framing up the monetisation strategy for any gaming app.

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Tattoo Removal Studio Will Remove Tats From Regretful Kanye West Fans for Free

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Opinions expressed by Entrepreneur contributors are their own.

After Kanye West, A.K.A. Ye, made antisemitic statements and false claims about George Floyd’s killing, a London-based tattoo parlor announced on Instagram that it would remove West-related tattoos for free.



ViktoriiaNovokhatska | Getty Images

Naama Tattoo parlor said its offer to remove tattoos of the controversial rapper was a “natural extension” of its “second chances” project, which offers free tattoo laser removal to people seeking to rid themselves of certain types of ink — gang tats or an ex’s name. The procedure, which can cost roughly $2,400 elsewhere, has prompted several customers to contact Naama about having their Ye tattoos lasered off.

The Washington Post reports:

“We understand that tattoos can be triggering for some people and not everyone can afford to remove their tattoos,” the company told The Washington Post in an email Thursday. It noted that one of the people who took them up on the offer said she was being trolled for her Ye-inspired tattoo.

The store said several people have contacted it in recent weeks to have their Ye tattoos lasered off — a procedure that can cost up to 2,000 pounds (about $2,400).

Ye was dropped by brands including Adidas and Gap and locked out of his Twitter and Instagram accounts over his past comments and posts. On Thursday, he appeared on Alex Jones’s Infowars clad in a full-head balaclava. He doubled down on his past statements, telling Jones, “I like Hitler,” and, “Every human being has value that they brought to the table, especially Hitler.”

Naama told the Post that “there are a few former fans with tattoo regret,” stating that three clients are already in the middle of the tattoo removal process, and ten more are ready for consultations. Following Ye’s comments on Infowars, that number seems likely to rise.

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