How To Start An Online Side Project That Makes Money

Contrary to a popular misconception, deciding to earn money online doesn’t have to involve quitting your job. In fact, unless you receive funding from a venture capital firm, you will probably be much better off keeping your day job and focusing on your side project in your free time. The reason that approach is preferable is because it doesn’t put an insane amount of pressure on you to turn your project into an overnight success. Instead, it’s completely fine if it takes some time for your project to gain traction.

Additionally, not having everything riding on your project means you can experiment more. This will ultimately result in you learning a lot. And because you will know more, it will increase the likelihood of your project being successful at generating money for you. Down the line, the revenue your project generates may become so significant that it then becomes realistic to decide if the time is right to shift your full attention to your project. But before we get too far ahead of ourselves, let’s go over what actions you need to take to get your project up and running:

Small is Great

One reason that so many people struggle to achieve the goals they set for themselves is because they’re too lofty. While there’s nothing wrong with having big goals, in order to achieve them, it’s important to break them into smaller goals that are clearly defined and can be accomplished in a reasonable amount of time.

Going with the theme we’ve been discussing, let’s say your big goal is to create an online venture that provides enough financial stability so you no longer have to work at your job. Although that is something that can be done, it’s not going to happen overnight. Instead, you’re going to need to take lots of small steps before you reach that point.

So instead of letting not having your entire roadmap planned out hold you back, simply focus on building one thing. Keep in mind that what you build doesn’t have to be grand or perfect. In fact, you might as well accept that you’re going to make mistakes along the way. What’s important is that you take some kind of action. And by choosing action that won’t take forever to generate visible results, you’ll build momentum and confidence for yourself.

Do Something You Enjoy

There are plenty of guides that provide information on how to find things like the most profitable online niches. At first, it can be tempting to think about a project that’s designed to chase something so obviously lucrative. But the big problem with that approach is it’s not going to be fulfilling. Countless people have gone down that path, only to get burned out in a fairly short amount of time.

Not needing to craft your entire project around money is one of the reasons it’s in your best interest to keep your job. By taking the initial financial pressure away, you can focus on what you want to do instead of feeling like you have to do what you think is going to be most lucrative. And even though it may seem counterintuitive, the fact you’re doing what you like means you’re going to put in more work. That motivated work is going to produce quality output, which over time will make your project much more valuable than just going through the motions.

Spending Isn’t the Solution

Plenty of people convince themselves that if they spend a certain amount of money on their project, it’s definitely going to be a success. The sad truth for those people is just like impulsively quitting your job to pursue an idea, dumping a bunch of cash into a new project is going to put far more pressure on you.

Thanks to the availability of cheap technology and resources, it costs less than ever to get almost any type of project going. For example, if you want to start a blog or website, you can get a domain name and hosting for less than $20. From there, you can use free tools like WordPress and Build Your Widget to not only create an online property, but also monetize it.

If you want to create a side project and start earning additional income, the best thing you can do is take action. Instead of keeping your idea in your head, bring it to life. Once it’s live on the Internet, you’ll be able to continuously refine and eventually turn it to something quite impressive.

Featured images:
  • License: Image author owned
  • License: Image author owned

Jay Bats designed and created Build Your Widget throughout 2012 and 2013. http://buildyourwidget.com/ lets you build really cool widgets for use in ecommerce and affiliate marketing on your website.

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