Having a diversified income stream (a fancy way of saying at least one side hustle) comes with a number of benefits, including:
- Income protection in case something goes wrong with your 9-5
- Making it easier to save each month
- Helping you get out of your comfort zone
- Exposing you to other opportunities
We asked the 10X Tribe what they do to earn a little extra. We hope their answers inspire you to come up with your own side hustle. Names with a * have been changed at their request.
If you need a little extra cash but don’t want to commit to something that requires a lot of effort or a long-term commitment here are a few ideas:
- Nozipho does online surveys and transcriptions (converting speech into text)
- Sam* regularly sells items he no longer needs, such as furniture, toys, and clothes. He says: “It's not going to make me rich, but it does keep a small, but steady flow of cash in my wallet.”
- Thandi* does house-sitting for people in her neighbourhood
Create and sell a product
If you see a gap and have some skills and a little bit of an entrepreneurial spirit, making goods for sale could be for you.
- Along with her online surveys, Nozipho also makes and sells satin bonnets for African women who need to cover their hair when they sleep.
- Keeping with the sewing theme, Jane* makes curtains for sale/to order.
- Christo, a retiree, supplements his pension with cash form his joint venture with his son selling car batteries.
- Brian is on a good wicket with his coffee trailer that he takes to sporting events on the weekend.
- Retiree Arthur is bringing in cash by selling his art
A few members of the 10X Tribe are fortunate enough to have investment properties or space in their homes that they rent out. Phuti Manaka, for example, earns a little extra by renting out the spare room in his house.
Sell a service
The upside of selling a service instead of a physical product is that you usually don’t require much capital for materials. The downside is it is harder to scale or outsource because the work requires your direct involvement.
- Retiree Peter has turned his photography hobby into an additional income stream
- Mathew Lewis does consulting and design work.
- Janine Erasmus did a course in wellness at ‘Healing Hands’ and now offers reflexology sessions.
- Rainer Nowicki builds websites for friends and family (he’s also working on a Business Intelligence app – watch this space!).
- Henk is a fishing guide in his spare time.
- Thandeka* has taken to writing articles and e-books in her retirement.
Building & repairs
If you know your way around a toolbox and don’t mind getting your hands dirty you could earn some spare cash by doing building and repair work.
- James* works as a handyman
- Sarah* does carpentry
- Philip Fraser does furniture restoration
You probably shouldn’t try this one at home
The final entry we wanted to share is by Barry* who is a beekeeper and earns extra income selling pollinator services. Farmers hire hives from Barry to help pollinate their crops.