4 Money-making Laws That Help My Friends Keep Their Side Hustles Profitable

When the going gets tough, they remember these laws

Few things divide opinions as sharply as side hustles. One section thinks they’re a lot of noise and a waste of time. The other thinks they’re worth a try, even profitable if done right. I’m biased towards the latter camp.

And it’s not because I have a side hustle. It’s more about a few friends around me, everyday side hustlers making it work far more than I could ever dream.

What helps them keep these side hustles profitable is realizing every territory comes with its set of rules. Or at least you need to guide your actions by some laws to make a splash.

It’s best if they’re your rules and not necessarily what everyone else is preaching. That’s what my successful friends have done. There are the four money-making laws they swear by to keep their side hustles going.

The law of perfect complements

My friends think doing only one thing could leave you too narrow, and you’ll leave money on the table when clients need a related service. Competitors may even bundle services together and cut you out altogether.

My friends think it’s all about finding the perfect complementary leg to everything you do. Two is company; three is a crowd, though, they warn.

For example, some of my colleague photographers also dabble in renting and selling photo gear. On days when they’re not shooting, they could easily rent out a camera or lens to others.

Some also ship these gear from B&H photos and Amazon, a big deal in a country where shopping for items online can cause a migraine. The pretty profits they make on those sales add up.

Another graphic designer learned the basics of digital marketing. He figured he was losing money designing stunning social media fliers for clients, but watching these same clients find someone else to manage their social media accounts.

You catch where I’m going with this? What’s that related service you add to your line of offering to capture parts of that other market? At least start thinking about that.

The law of tiers

You could say you’d rather avoid some clients and fair play to you. But when you realize everyone holds the potential to spread the good news of your business — if you treat them right, that is — you’d know the importance of embracing customers with different tastes.

My friends have this uncanny knack for boxing clients into tiers based on their budgets. They tell me you risk losing some customers if you’re too rigid with your offerings. Price your services too high or low, and you could scare off clients. That’s hardly surprising.

There’s no hard and fast rule about this whole tiers business. They get it wrong from time to time, but that’s better than losing the clients with a straight-line offer.

In short, resist the temptation to herd all clients into some one-size-fits-all service structure. Can you try to put them in tiers? Like a top-tier, mid-tier, and super affordable type of grouping.

It helps my friends keep many and turn away only a few clients.

Law of continuity

The chain never breaks, they tell me. Whatever project they’re working on, they’re always looking out for the next client. For example, when shooting weddings, they’re super attentive to guests.

Of course, people like photos, and these days, it’s easy to snap and share the shot. Or even tag the faces online. Before long, this new person becomes a client or knows someone who might need a photographer.

And the cycle goes on without fail.

If you’re, say a writer, you can always look out for interesting feedback on your work and follow the commenters to their profile. Who knows what relationship could come out of that?

Law of logic

Emotions rule humans, but logic keeps businesses profitable. My friends don’t fall for just about every emotional story clients tell. Not when many of these emotional stories usually end up in scope creep.

They tell me how you may agree to something, and then mid-project, the client comes along with a touching story to get you to go a little extra with no pay.

Also, these stories show up when it comes time for some clients to pay up — down payments or last installments.

My friends immediately switch to logic. If plans change mid-project, those changes must come with a corresponding change in fees. No pay, or at least a firm guarantee of payment, no work.

When that situation comes up, employ logic and get real with your client in your most romantic tone.

It could be unfair to boil making money with side hustles to a few unfancied rules. But sometimes, that’s what happens. If, like my friends, you have a few that have proven to work a treat for you, you’d best stick to them and milk them to the last drop.

If you haven’t yet found yours, keep looking, keep trying.

I sit back in awe and admire what my friends are doing, and you bet I’m frantically tweaking things. Could some of these laws help you? But even better are the money-making laws you can legislate for yourself.

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