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2 Comments

What are the best ways to generate money on the side while your main project takes off?

Hey hackers,

I'm currently working on launching my first product and I was wondering about some good ways to generate income on the side to minimize your personal cash burnout rate before your project starts making you money.

The ones that come to mind are:

  1. Freelancing:
  • Pros: Quick money.
  • Cons: Time-consuming, might not enjoy the work.
  1. Start a consulting business:
  • Pros: You can monetize your tech/product skills and delegate work to a team.
  • Cons: It might take a lot of time to set up/manage and distract from main project.
  1. Investing:
  • Pros: Potentially live off of returns.
  • Cons: large capital investment required unless you are a pro trader.
  1. Raising capital:
  • Pros: Expenses are financed by a third party.
  • Cons: Giving up equity and potentially decision-making power.

I'm sure the list of possibilities is endless but I would love to hear about some good ideas here. Coming up with a plan "B" might be a necessity in case main project takes too long to take off, or at the very least to minimize one's own cash burnout rate while hacking your project.

Cheers,

  1. 4

    What about just get a job?

    Something mindless + low responsibility.

    So you can focus your mental bandwidth to your startup.

  2. 1

    Every product has a yet Another product inside it.

    Look at your own product and think if you can make some small changes then, can you launch it a a standalone product ?

    If you do it then go ahead.

    Add it to different app store like Shopify , Magento, WordPress etc

    Start earning.

  3. 1

    This comment was deleted 4 years ago.

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