3 Common Questions About Starting Your Own Side Hustle Answered

  • A side hustle consultant with 12 streams of income shares three questions they’re asked the most.
  • Most people want to know how they can set up passive income streams quickly and easily.
  • But if you want to get rich quick, it won’t work.

Daniella Flores, a self-described “sidepreneur” who currently has a dozen streams of income including freelance writing, consulting services, digital products, affiliate partnerships, and investment dividends, offers consulting services to others who wish to explore polywork – the idea that your career can be composed of multiple small roles instead of one primary job – and self-employment.

They shared with Insider the answers to the three most common questions they get about starting a side hustle.

1. How can I make passive income quickly and easily?

Flores, who uses the pronouns they / them, told Insider the No. 1 question they get is: “What is the easiest and quickest way that I can make passive income?”

“The first thing I tell them is this: I do not give any consultation advice and get-rich-quick schemes, nor will you be able to get rich quick,” Flores said.

The only truly easy way to earn passive income, they added, is by investing in the stock market, but that seeing real earnings in the market takes a long time as you accrue


compound interest

.

2. How do I get started blogging or freelance writing?

Flores said the most popular side hustle people look to start is getting into blogging and freelance writing, because it’s a very convenient way to earn extra money.

“Usually, all those gigs are remote,” Flores said. “They are flexible, and you can kind of make your own hours.”

That said, one thing Flores said to keep in mind is that building a blog or launching a freelance writing gig can be very time-intensive, and you’ll be waiting for a while before you start earning money doing it – you may have to get a portfolio together or learn a few new skills.

Flores added that blogging specifically has a lot of appeal for potential side hustlers because there are also many opportunities to earn a steady stream of income through ads and affiliate links.

3. How do I deal with taxes, business registration, etc.?

This question is one Daniella said they can’t really answer, because they’re neither a lawyer nor an accountant.

“I would recommend they talk to a certified public accountant – and probably a local one,” Daniella said. They added that having a CPA who is local to the area will have better advice on things like the specifics of sales taxes in your state.

Daniella said that sometimes they tell people who ask these questions what they did in the beginning, but that potential side hustlers should keep in mind that everyone’s situation is different and that they may not do the same things.

“People think a lot of times that they have to have an LLC to do anything online,” Daniella said. “I started as a sole proprietor with just my Social Security number. I didn’t even have a business bank account – I was using PayPal at the time.”

That said, they do not recommend keeping your money for your business in PayPal – get an actual bank account.

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