5 Most Lucrative Side Hustles for Professionals Needing Higher IncomeMarch 11, 2015 – In The News
Christina Stoneburner was quoted in the Main Street article "5 Most Lucrative Side Hustles for Professionals Needing Higher Income." Full text can be found in the March 11, 2015, issue, but a synopsis is below.
If you're thinking about taking on a part-time gig, here's a look at five of the most lucrative, and how to stay within the boundaries of your full-time employer's "conflict of interest" policy.
Per diem attorney
If you have a law degree and your schedule allows it, working as a per diem attorney can be a great way to earn extra cash, says Christina Stoneburner.
"Per diem attorneys are often hired to cover a court appearance or a deposition, or other off-hours hearings," Stoneburner says. Before accepting a position with firm or company check with your employer to see if there is a conflict-of-interest policy.
"There may be issues with you working for someone else. Clients contact us all the time because they find out they have employers who work elsewhere. Most of the time it doesn't impact their regular job, but sometimes it does.”
Information Technology is one of the most common fields for side jobs and freelancing, Stoneburner says.
"So many people write code and do Web design on the side," she says. "It's only going to become more prevalent in the coming years, with people creating apps, designing storefronts and more. People aren't going to hire someone full time if they need an app, they're going to hire an independent contractor."
For many people, one of the main selling points of IT and Web development is the flexibility of schedule.
"It's the kind of thing you can do for two hours in the morning, an hour at lunch and again for two hours in the evening. If you have a job where you never know if you're going to be working from 9 to 5 or 9 to 8, then having something with flexibility of schedule is key," she says. "You don't want to be in a position where you're leaving early from your first job and arriving late to your second job."
Whether you work with an established tutoring brand or strike out on your own to teach local high school kids, tutoring can be very lucrative, Stoneburner notes. "If you don't want to worry about building a client base, then work for one of the brands.”
"If you're doing something once or twice a week, after school, it's easier to coordinate with your regular job. If you have that skill, use it, share it," she says.
If you’re opening an online shop, make sure you're prepared for order volume and tax day, Stoneburner says.
"It's only going to be fun if you have some inventory and you don't have to worry about keeping up with orders," she says. "Also, most sites report your earnings, so you'll probably be getting a 1099 at the end of the year."
"A lot can be done from home," Stoneburner says. "Not every company needs a full-time blogger or a full-time social media coordinator, but they're happy to pay someone to do that for them a few hours each week. All that person needs is a computer."