An experienced freelancer shares a 15-minute strategy to help you discover your ideal side hustle.

Discovering your ideal side hustle could be simpler than you imagine, in just 15 minutes, according to Alice Everdeen.

In 2020, Everdeen started a freelance voiceover business as a side hustle. It grew into a full-time business that generates up to $15,000 per month, according to CNBC Make It documents. However, when her earnings decreased slightly last year, she looked for additional income streams.

She landed a freelance gig teaching skill-building workshops for a company that offers career training. During these classes, she imparts her straightforward approach to determining which side hustle to launch.

"Everdeen, 33, divides individuals into two separate lists: one detailing their skills and strengths, and another highlighting their interests and hobbies. After examining both lists, individuals attempt to merge them."

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If you love dogs and own a house, you could try dog-sitting. If you are strong and like to help your friends, you could look into becoming a professional mover. In Everdeen's case, the strategy helped her find those skill-building workshops in the first place, she says.

"Everdeen says, "I wanted to do more speaking, but I really enjoy the helping people aspect of presenting and virtual facilitating. I found a facilitating job that was a good in-between.""

For any freelancer, having a stable income is highly valuable, and that's why the new side hustle worked for her.

Tailor your side hustle to your lifestyle

An increasing number of Americans are engaging in side hustles to achieve various objectives, such as starting businesses, settling debts, or saving for significant expenses like vehicles, homes, and vacations.

Kathy Kristof, who runs the blog SideHusl.com and has reviewed over 500 side gigs, suggests that Everdeen's strategy can be a useful starting point for anyone looking to join the side hustle craze. Additionally, she recommends asking two more questions to help determine the best side gig for you.

1. Deciding between active and passive side hustles can help you determine how much you want to work.
2. Do I want to run a business on my own? Platforms such as Fiverr and Contently can help attract customers, but they take a portion of your earnings in exchange for marketing and advertising assistance.

To ensure that your side hustle solves a problem or falls into a specific niche, Kristof advises. Her website provides a quiz that helps visitors identify their side hustle options based on their interests, skillsets, and available time.

"Kristof argues that there are too many generalists. He advises being specific about what one offers and taking the time, even a month, to refine one's elevator pitch."

Mark Cuban's similar advice

In a 2017 Amazon entrepreneurship video series, billionaire investor Mark Cuban advised against following your passion and instead urged individuals to "follow their effort."

"Instead of focusing on passion, it's more important to pay attention to where you allocate your time and effort, as these are the areas where you excel. By investing enough time and effort, you can become proficient in those areas."

Cuban abandoned his childhood aspiration of becoming a professional basketball player when he "recognized I possessed a 7-inch vertical," he stated. Following the sale of his audio streaming company Broadcast.com to Yahoo for $5.7 billion in 1999, Cuban acquired a significant stake in the NBA's Dallas Mavericks.

"In April, NBA player Draymond Green's podcast, "The Draymond Green Show," featured a conversation with Cuban, 65, where he recounted that the entire experience was about fun. Cuban described it as a dream come true and shared that he didn't even negotiate, he was just excited to be a part of it."

Last year, Cuban sold his majority stake in the Mavericks to the Adelson and Dumont families, who own the Las Vegas Sands casino and resort company, in a deal worth $3.5 billion. Cuban retained a 27% minority stake in the team and control of basketball operations.

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