Are you looking to earn extra money, gain entrepreneurial experience, and build a network?

A side hustle is often a part-time job or business that you engage in alongside your primary occupation.

For some students, side hustles allow them to earn money in Singapore. It is also an invaluable learning experience to develop soft skills such as marketing and finance to include in their resumes. For others, it may be the start of pursuing your interest in becoming an entrepreneur or business owner.

Why Start A Side Hustle?

Starting a side hustle can provide numerous benefits, including:

• Earning extra money to support your studies or personal expenses
• Gaining entrepreneurial experience and building a network
• Developing valuable skills such as marketing, finance, and time management
• Pursuing your passion and interest in a particular field

5 Easy Side Hustles To Venture Into

While some side hustles may require some prior knowledge and practice, many others can be picked up quickly and require less effort and startup capital.

1. Affiliate Marketing

As an affiliate marketer, you advertise a product on behalf of a company to help generate web traffic or leads for their products or services. You earn extra commissions for doing well, and you can work with different companies simultaneously.

Some everyday examples of affiliate marketing in action include:

1. Product reviews and recommendations: You read a blog post about the “best running shoes for beginners” and the author mentions their favourite pair with a link to buy them online. If you click that link and purchase the shoes, the author earns a commission.
2. Social media influencers: You see a fitness influencer on Instagram using a new protein powder. They include a discount code, which tracks referrals, and they earn a commission for purchases.
3. YouTube tutorials: You’re watching a video on fixing a leaky faucet. The creator includes a product link in the description and earns a commission if you purchase it.

2. Copywriting

If you feel comfortable behind a computer, copywriting could be a great side hustle. With the increasing reliability of generative AI, creating marketing and advertising content is now easier and requires minimal capital.

3. Online Tutoring

If you excel in a particular subject, offer online tutoring services. Video conferencing tools like Zoom or Google Meet make it easy to tutor from anywhere.

4. Home Baking

While the startup capital may be higher for equipment and materials, home baking can turn into a successful venture. It’s important to check local regulations, such as Singapore’s Home-Based Business Scheme, before you start.

5. Dropshipping

With no need for physical inventory, dropshipping allows you to sell products online and manage your business processes through a supplier. Platforms like Shopify and Amazon.sg are great places to get started.

5 Tips To Help Your Side Hustles Thrive

Pursuing a business idea as a student can come with many challenges, but it can be a rewarding endeavour. Here are some tips you may want to keep in mind to help you navigate through this exciting intersection between entrepreneurship and education:

a. Time Management

Effective balance between multiple commitments is crucial in successfully managing and growing your side hustle. Create a schedule that allocates dedicated time for both studies and your side hustles. This can help with avoiding last-minute scrambles to complete assignments or business activities. Most importantly, remember not to neglect your well-being and schedule time for self-care and sufficient sleep.

b. Set Realistic Targets

It might be wise to define clear and realistic short-term and long-term targets for your side hustle. By breaking these goals down into manageable tasks, you can celebrate small victories along the way which can help you stay focused and motivated throughout the journey.

c. Broaden Your Network

Connecting with other student entrepreneurs and building relationships with potential customers and collaborators can be a source of knowledge, opportunities, and support. Additionally, you can also look for mentors with experience in entrepreneurship or your specific industry. Their guidance may be invaluable and may provide useful business ideas and tips, and advice on challenges you may face.

d. Leverage Your Resources

School resources like entrepreneurship centers can provide students with guidance and support, while free resources and exploring digital tools or platforms can be utilised to streamline your business operations. By taking advantage of technology, you might manage tasks more efficiently, especially while balancing student commitments. Furthermore, these resources may help reduce additional costs and keep operations lean. In turn, you can minimise your startup capital and optimise your working capital.

e. Embrace The Hustle

While there are many part time jobs for students out there, nothing beats being your own boss. Nevertheless, starting a side hustle as a student takes hard work and dedication so be prepared for long hours, setbacks, and moments of doubt. Mistakes are inevitable, but they offer invaluable lessons so be open to feedback, adapt to challenges, and view failures as opportunities to grow and improve. Remember, your passion and perseverance will fuel your journey as an entrepreneur.