The 10 Best Side Businesses to Fund Your Startup
So, you have a great idea for a new business? Getting started isn’t straightforward. What if you need help? In addition to creating a solid business plan and marketing your business, funding your venture is crucial.
You may think you’ll have to rely on loans, but I’m here to show you otherwise. In this article, I will take you beyond traditional funding sources and show you how to fund your startup idea by operating a successful side business.
10 side businesses to help fund your startup:
1. Etsy:
Etsy is the ideal marketplace for the creatively inclined. Setting up an Etsy shop is simple, and if you have a craft, you’ll be in good company.
Do you enjoy making jewelry? Maybe you are an artist? Etsy is flexible; you can work from home and supply costs vary depending on your craft.
To make your Etsy business a successful source of income, get creative. Stand out from the crowd, like Sara Bliss did with her shop, The Boss Stitch.
2. EBay:
EBay is a wider platform for product selling. If you have a collection, there is likely a market for it on eBay.
EBay is flexible, which makes it a great side business. Best of all, it can be a way to test the waters with your business idea, like James Applegath did with his vintage T-shirt business, Defunkd.
3. Freelancing
Freelancing can generate income. Consider using freelance writing as a side business. It’s flexible and requires minimal materials.
Networking within your industry and using sites like Odesk and Elance can help you find freelancing work, just as Abbey Finch and Joseph Howard did.
4. Consulting services
Consider establishing yourself as an independent consultant. Consulting has no overhead and is a great way to make use of your existing skills.
To market yourself as a consultant, be an expert in something, just like Diana Melencio did with her financial consulting business.
5. Selling services
There are a variety of service businesses that make great side businesses. Advertise your skills on sites like Craigslist and offer services like resume building or tutoring.
It might not seem stable at first, but with time and a solid client base, it can become a viable side business.
6. Your day job
Consider using your full-time job to fund your startup. It provides stability and income to focus on your business, like Joseph Howard did.
Use any extra income after living expenses to invest in your startup.
7. Blogging
Start a blog and monetize it. Blogging can be a great way to turn your passion into a side business. It offers flexibility and the freedom to work from anywhere.
Like Cyrus Roepers, use your existing blog or start a new one to generate income.
8. Competitions
Entering competitions can be a unique way to raise funds for your startup, if you are skilled in a competitive area.
Farbod Shoraka, David Daneshgar, and Gregg Weisstein used poker to raise funds for their floral startup BloomNation.
9. Driving for Uber
Become an Uber driver to put your car to good use. It offers flexibility and the ability to set your own schedule.
Louis Ashner used Uber to fund his startup, NoPass, while finishing his degree.
10. Airbnb
If you have extra space, consider renting it out through Airbnb. It provides a low-effort supplemental income and networking opportunities.
Diana Melencio funded her startup, OkMyOutfit, by renting out her guest room.
11. Worms (yes, worms)
If you have a background in sustainability, consider selling worms. Jon Colgan used this unique side business to help finance his startup CellBreaker.
When it comes to bootstrapping your startup, there are many options available. Consider these flexible and low-overhead side businesses to fund your dream.
Hello!
I’m Andrew Brooks, a seasoned finance consultant from the USA and the mind behind phonenumber247.com.
My career is built on a foundation of helping individuals and businesses thrive financially in an ever-changing economic landscape. At phonenumber247.com, my aim is to demystify the complex world of finance, providing clear, actionable advice that can help you navigate your financial journey with confidence. Whether it’s personal finance management, investment strategies, or understanding the nuances of market dynamics, I’m here to share insights and tools that can propel you towards your financial goals.
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