As a fan of the FIRE (financial independence retire early) movement, I thought I’d try a side hustle, one of the FIRE recommendations.
Since I have pinecones that fall on my driveway all year around, I decided to collect them and sell them on craigslist.
I have two kinds of pinecones; those from European pine and Douglas fir trees.
I collected about a dozen boxes of pinecones, checked out what people were selling them for, and advertised them on craigslist. One woman came before Christmas and bought a small box. She was very happy to get them, saying the pinecones at hobby stores were extremely expensive.
I also received an email from a man that ran an animal sanctuary in Oregon. He said he’d like them to feed to some of his animals, but he didn’t follow through to come and get them.
Then, nothing.
I also decided I’d sell toilet paper and paper towel rolls. I began piling them up in boxes, checked out what people were selling them for, and advertised them on craigslist.
No one emailed me about them.
I looked into what it would take to sell the pinecones from a website and mail them to people. They’d need to be cleaned. One method is to bake them in the oven. I decided that would be too much work. I have other priorities including finishing my book and writing blog articles.
I also checked out selling toilet paper and paper towel rolls from a website and mailing them – again, too much work.
After about a year of collecting the stuff, I decided to get rid of it. I put notes on craigslist to give it away.
One woman from Seattle wanted the pinecones and said she’d come and get them. However, I called and told her it looked like white mold had grown on the pinecones since I’d collected them. Of course, she said she didn’t want them.
The pinecones went in the compost and I dumped the toilet paper and paper rolls in the recycling.
What should you do when trying to pick out a side hustle?
I read about a man decided to sell trees. He bought seeds and sold little trees for $6 when they were about 8 to 10 inches. His day job is in investing.
Here are tips for selecting a side hustle:
- Consider your options. Find a side hustle that interests you or even excites you.
- Do a cost-benefit analysis. Determine how much it will cost and estimate, realistically, what you can earn.
- Make a business plan. Write down your goals, research the competition, and choose an operating model.
- Figure out how much time and effort it will take. Time is precious and limited, so evaluate what you’re willing to do.
- Take a look at the skills that will be needed. You may be able to use the skills you have or you may need to acquire the necessary skills.
- Determine your startup costs and financing. Do you have the money to get started or will you need to borrow it?
- Launch your side hustle. Determine how you’ll market your service or product.
- Evaluate how you’re doing often as you go along. The purpose of a side hustle is to make passive income that doesn’t involve the stress associated with a 9 to 5 job. It should be an activity that brings you joy and offers an escape from your “day job.” If it’s stressful, it’s a second job.
See Budgets Are Sexy’s “80+ Ways to Make Extra Money on the Side (Real-life Side Hustle Stories)” for ideas on what side hustles might work for you.
