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When your side hustle is good, it’s really good. Nothing beats that feeling of being busy and wanted and having those invoices paid at the end of the month. But what happens if the work dies down? Every person who works for themselves has experienced a dry spell at one point or another. It’s scary and unsettling, especially when you’ve come to rely on the money. While it may feel uncertain, it doesn’t have to be a permanent situation.
Here’s what to do when your side hustle goes quiet.
The good news here is that your side hustle isn’t your only source of income. You still have your job or other income sources to make sure you’re not going to fall behind on your bills. Yes, it’s frustrating when you’re used to the money, but you can make some temporary sacrifices while you wait for things to pick up. If anything, this period could be a warning that you need a better savings plan for your side hustle that you can dip into if needed.
Rather than go into meltdown-mode, think calmly and rationally about your situation and how you can turn things around.
Use the downtime to improve
When the work is flooding in, it can be difficult to find yourself some downtime to improve your skills and learn some new ones. Take this opportunity as a way to keep yourself busy and keep working or even try some online courses as a way to develop. Maybe it’s even time that you took a proper break, switching off from work and giving yourself some much-needed time off.
If you started your side hustle because there were already people interested in your services, then chances are you won’t have had to deal with the ‘searching for work’ element of freelancing yet. By heading to networking events, you can introduce yourself to a whole new load of potential clients and hopefully land yourself some new work. Learn how to shine at a networking event to help you make a great impression.
Go on the hunt
There are plenty of ways you can source work online, even if it’s ad-hoc or a one-off job. Try registering with different freelance job portals to help you find some easy work that can help you to fill your downtime.
If you’re in trouble, do something about it
If the lack of activity from your side hustle starts to bring about financial problems, make sure you do something about it before it becomes a serious problem. You might need to speak to your bank manager or a hard money loans provider to get your finances in order short-term and keep you on top of any bills or outgoings. It’s worth starting a contingency fund that you can dip into if times get tough again in the future.
Whatever your side hustle, remember that quiet spells are perfectly common and don’t have to signal the end of your venture. With a positive and determined attitude, you can soon turn things around and get your side hustle back up and running once more.