Article contributed by  JP Lama

A lot of people are taking on a sideline nowadays (the number of RareJob tutors is… ahem… increasing). Whether it’s because they need more money to keep up with the prices of things as they go up (are you really surprised that rent, electricity, water, gas, and travel fare is up?), or they want more money so they can buy more things that they want (you just have to go to that concert, don’t you?), a sideline is a good way to get more money. But before you go crazy and jump into networking (and practice the ever-popular spiel “open-minded ka ba?”), here are 7 questions to ask yourself before starting a sideline.

1) What is your goal?

How much money do you want to make? Are you really doing this as something on the side or are you trying to get a new job? Is it something you can commit to long-term (1 year minimum) or is it just a phase you’re going through (because you’re in debt or whatever)?

2) What do you bring to the table?

What skills do you have and how can you make money out of it? You also have to keep in mind that there are sidelines where you first need to develop entirely new skills before you can start making money. In these cases, you might need to spend some money to develop the skills required for the job..

3) What customer need are you trying to meet?

Is there a market for the product/service you have to offer, and if there is, is it something that you can count on to be there as long as you need it to be (refer back to #1)?

4) Who are your customers?

Are they people you can deal with easily? Remember, a job gets easier when your customers are someone you can easily relate to. Also, can you easily get their attention? Can they get in touch with you or visit you easily?

5) What are the requirements for your sideline?

How much starting capital do you need? What equipment/facilities/inventory do you need to get the sideline started (for RareJob home-based tutors, I’m talking fast Internet connection, a headset, a computer, a video camera, a private room, and, of course, good command of the English language)? Are you going to have to pay for travel money just to get things going?

6) What is a fair price?

If you’re the one setting the price for what you have to offer, find out what the fair price is. Ask around, especially other people who are in the same sideline to get an idea.

If a company is setting the price for what you have to offer, ask around anyway. You’ll get an idea if the company has competitive rates or is just committing highway robbery.

7) What is the return on investment?

Are you actually going to make money? Realistically, how much? Remember that nobody starts a sideline to lose money. That’s why you have to make sure that when you subtract what you paid for from what you’re making, the number has to be positive. You also have to consider the things you lose that have no price, like the time you could have spent on other things, and your mental and physical health. It’s no good making a lot of money if you’re just going to spend most of it on doctors because you got sick from working so hard.

So there you have it, 7 questions to ask yourself before starting a sideline. One final piece of advice: it doesn’t matter what sideline you have, whether it’s an online English tutor, a Karate instructor, or whatever. It’s a second job, but it’s still a job. You want money? Get the job done.

Photo by Brooke Cagle on Unsplash