The coronavirus and Covid-19 pandemic have made life difficult for many of us. Sure, this may ahve all started back in 2020, but over the course of the past couple of years, countless people have found themselves struggling for work. From job loss to redundancy, reduced salaries and reduced working hours for many employees, many of us are finding it difficult to make ends meet and get on top of finances. On top of this, we’re now living through a cost of living crisis that is seeing the price of essentials skyrocket. It’s not all too surprising that many people are trying to make a little extra money alongside their main or current job roles. This is where self-employed projects can prove useful. Call it what you want – additional work, a side hustle or anything else – it’s a good way to bring in extra cash in a legitimate way. Here are some tips to help you try this mode of work out.
Registering As Self-Employed
The first step to take on this journey is to register as self employed. This will allow the government to see that you are generating money working for yourself and will allow you to complete your tax assessment at the end of each fiscal year. Apply sooner rather than later, so you can get started with your projects as quickly as possible.
Is There Demand for Your Service?
Chances are, if you’re reading this article, you’ve got a service to sell in mind. You need to ask yourself, and answer honestly, whether there is currently genuine demand for your service and whether those who are demanding it have the means or the income available to pay for it. Right now, people are more wary with their money or spending, so you need to make sure that you’re offering something of high value. Whether you’re planning on selling accounting services, graphic design services, consultations or you want to sell feet pictures, there’s scope for money making out there as long as you identify your target demographic and strike while they’re interested and willing to spend.
Is The Market Saturated?
Of course, where there’s demand, there will generally be supply. You need to make sure that the market isn’t overly saturated if you want to make money. Alternatively, you need to make sure that your services really stand out from the crowd. Advertise and market yourself. Show yourself in your best light. Come up with a portfolio, get reviews and encourage people to spread recommendations through word of mouth. You may also find that you simply need to offer a more competitive price point.
Consistency tends to be key when it comes to making a success of self employed projects. Try to find clients who will pay for your services over and over again. This will help to generate a more consistent income for you.
Self-employed projects really could be a great go to when it comes to making some additional money to support yourself right now. Hopefully, some of the suggestions outlined above will help you to get this journey started out in the right direction!