SideGig can get more babies!

Do you know Australia is currently facing a 'Baby Recession'?

In 2023, Australia experienced a 4.6% year-on-year decrease in births, with only 289,100 babies born - the lowest number since 2006. The underlying factors influencing fertility decisions are housing affordability, childcare costs, and work-life balance.

SideGig could be the solution to this problem.

Having a side gig not only helps generate additional income but also helps create a great work-life balance and increases overall household affordability.

Thinking about having a baby! Think SideGig

Welcome to the new edition of SideGig!

Last week, I had the opportunity to talk at the Raising the Bar Event in Adelaide. I shared with the audience 'How to start a side gig and earn extra money.'

A key question from the audience is: How do we get started?

Here are the most critical steps in your side hustle journey: identifying and validating your side hustle idea. It's about finding the right idea that aligns with your skills, passions, and market demand. Let's get started!

Step 1: Identify Your Side Hustle Idea

The first step is to brainstorm potential side hustle ideas. Here are a few ways to get started:

1. Assess Your Skills and Interests

• Think About Your Passions: What do you love doing in your free time? Whether it's writing, designing, coding, or crafting, your hobbies can often be turned into profitable side hustles.
• Leverage Your Professional Skills: Consider the skills you developed in your current job. Are you good at project management, marketing, or customer service? These skills can be the foundation of your side hustle.

2. Research Market Demand

• Use Google Trends: Google Trends is a fantastic tool for seeing what’s currently trending. Search for your potential side hustle idea to understand its popularity over time.
• Explore Communities: Visit forums, social media groups, and platforms like Reddit or Quora to see what problems people are trying to solve. This can give you insights into what’s in demand.

Step 2: Validate Your Side Hustle Idea

Once you’ve identified a few promising ideas, the next step is to validate them. Here’s how you can do it:

1. Conduct Surveys and Interviews

• Survey Your Network: Create a simple survey using tools like Google Forms or SurveyMonkey and send it to your friends, family, and colleagues. Ask them if they would be interested in your product or service and what they’d be willing to pay for it.
• Conduct Interviews: Talk to potential customers to get direct feedback on your idea. This can help you refine your offering and ensure there’s a market for it.

2. Test with a Minimum Viable Product (MVP)

• Create a Simple Version of Your Product: Launch a basic version of your product or service to see if there’s genuine interest. This could be a single product on Etsy, a one-page website offering a service, or even a landing page collecting email sign-ups.
• Measure Engagement: Track metrics like website visits, clicks, and sign-ups to gauge interest. Tools like Google Analytics can help you monitor this data.

Resource: Start with a simple landing page using Wix or WordPress to test your idea.

Final Thoughts

Identifying and validating your side hustle idea is crucial in ensuring your success. You can confidently move forward by thoroughly researching and testing your concept, knowing there’s a demand for your offering.

💡 Remember, the key is to stay flexible and be willing to pivot if needed based on feedback and market trends.

Have you been able to identify and validate your side hustle idea yet?

See you in the next edition.