Side hustles for project managers offer a unique opportunity to leverage your skills and expertise outside of your regular 9-5 job. In this competitive era, diversifying income sources is not only smart but necessary. As project managers, you’ll find jobs that perfectly align with your skill set.
Through this article, we delve into some perfect side hustle ideas tailored for project managers like virtual assistant roles, business coaching or consulting gigs. We also explore high-earning job options such as event planning or social media management which could supplement your full-time income significantly.
Beyond identifying potential side hustles for project managers, we will guide you on how to find clients and create an effective business plan. Plus, we’ll provide tips on balancing these lucrative ventures alongside a demanding full-time job.
Table Of Contents:
- Exploring Side Hustles for Project Managers
- High-Earning Side Hustle Ideas
- Finding Potential Clients for Your Side Hustle
- Creating Your Side Hustle Business Plan
- Balancing Full-Time Work with Your Side Hustle
- What We Learned
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The Versatility of Project Managers
Ever wondered how project managers juggle so many roles? They’re like the conductors of an orchestra, harmonizing different elements to create something remarkable.
One of their key responsibilities is risk management. They identify potential issues before they arise, ensuring smooth operations and successful outcomes.
Goal planning is another crucial aspect of their work. They set achievable targets for teams, taking into consideration business audit findings.
Project managers are versatile professionals with expertise spanning multiple domains. Learn more about goal planning here.
And here’s the best part: project managers can find jobs in various industries, opening up numerous opportunities.
Now, let’s explore how project management can translate into the perfect side hustle idea.
Exploring Side Hustles for Project Managers
As a highly skilled project manager, you may not be aware that your risk management and business audit capabilities could generate additional income. The skills you’ve developed are widely applicable and puts you in position to take your pick of enjoyable and potentially profitable side gigs.
Let’s dive into some potential side hustles perfect for someone like yourself.
Your organizational prowess can shine as a virtual assistant.
Sure starting out VAs earn an average of $16.13/hour but with experience and proven reliability, this figure can rise up to $100 per hour or more.
As a virtual assistant Your Role can vary a lot. You can be responsible for organizing you clients entire life and time. From meetings to where they’re going for lunch.
The most important part of being a good virtual assistant is being quick to respond and detail oriented; a skill that I know you already have.
If guiding others is your passion, then consider becoming a business coach.
Being a successful business coach means helping an individual plan their future. You have to have an understanding of what their goals are and how to achieve them. This is where your time management skills will really come into play.
You’ll have to build a good relationship with your clients so they feel open communicating what their goals are. But connecting people and aligning goals is what you already do so this should be a piece of cake!
A typical salary hovers around $64k annually. Remember though – success depends on how well you leverage those goal planning abilities.
Pursuing consultancy work might just be another profitable avenue.
As a consultant you just keep doing what you’re doing. This time you’re working for a wide variety of projects to ensure they’re delivered on time and on budget.
You can make a lot more working for large companies that have the budget to pay for your skill set or you can explore the startup ecosystem. Startups have a lot of need and will really appreciate your skills, but don’t have the same budget as the big players do.
On average, business consultants pull in slightly above 75 grand yearly. However, it does require solid networking skills to find clients consistently.
High-Earning Side Hustle Ideas
If you’re a project manager, you’re in luck. Your skills are in high demand, and that means more opportunities for side hustles that pay well.
Get your party hat on and consider becoming an event planner. You’ll be organizing corporate events and birthday parties, making sure everything goes off without a hitch.
According to Payscale, the average annual salary for event planners is around $50,201.
Social Media Manager
Put your social media expertise to work by becoming a Social Media Manager, crafting content and interacting with followers from the comfort of home. You’ll be handling accounts, creating content, and engaging with followers. You can easily take care of social media accounts, create content and interact with followers from the convenience of your own home.
According to Payscale, the average yearly pay for social media managers is about $52,000.
Why not upgrade your project management skills and become an organizational consultant, so you can help businesses increase their effectiveness while earning top dollar? You’ll help businesses improve their processes and boost their efficiency. Plus, you’ll be raking in the big bucks.
According to Glassdoor, organizational consultants earn an average of over $84,000 annually.
Now that we’ve covered some high-earning side hustle ideas, it’s time to find those clients and start making that extra cash.
Finding Potential Clients for Your Side Hustle
Now that you’ve chosen your side hustle, it’s time to find clients.
Seeming daunting at the outset, yet with appropriate approaches in place, it can be made much simpler.
Meet potential clients at industry networking events. Rub elbows and exchange business cards. Who knows, you might even find your next gig while sipping on a free cocktail.
Social Media Platforms
Slide into the DMs of businesses on Facebook or Instagram. Convince the businesses that you possess the expertise they need to make their social media presence a success. Just don’t be creepy about it, there’s enough of that on social media already.
Become a Social Media Manager on The Side?
With your existing project management experience, you could easily transition into a role as a social media manager and leverage the power of hashtags and cat memes. It’s like project management, but with more hashtags and cat memes.
Digital Freelance Platforms
Set up your profile on digital freelance platforms and start bidding on projects. It’s like online shopping, but instead of buying clothes, you’re buying clients.
Here’s a list of some of the best digital freelance platforms in 2023 to help you get started:
Creating Your Side Hustle Business Plan
So, you’ve found your perfect side hustle idea and are ready to dive in.
The next step? Crafting a solid business plan that will guide your journey from project manager to successful entrepreneur.
To start with, outline what success looks like for you. Whether it’s financial targets or client milestones, having clear goals will give you direction and purpose.
You’ll also need a pricing strategy based on industry standards. Charge what you’re worth, but don’t scare away potential clients with sky-high prices.
An often overlooked but vital aspect is risk management. As experienced project managers, we recognize the need to identify and minimize any potential dangers.
- Create a SMART action plan to achieve your goals.
- Find the best freelance platforms to connect with potential clients.
- Schedule time for marketing efforts, like networking events and social media management.
With all these elements combined, you’ll have a comprehensive business plan tailored specifically for your side hustle needs.
Next up? How do you balance your full-time job with running this new venture? Let’s explore some strategies.
Balancing Full-Time Work with Your Side Hustle
Managing your time adeptly is essential when attempting to balance a full-time job and a side hustle. You need to strike the right balance, ensuring neither area suffers due to lack of attention or fatigue.
- Creating To-Do Lists: Stay organized and prioritize tasks efficiently.
- Setting Boundaries: Maintain work-life harmony by keeping work from spilling over into personal time.
- Time Blocking: Dedicate specific hours solely to your side hustle without interruptions from your full-time job. Focus on one task at a time.
Your project management skills will come in handy here. Apply the same principles used in risk management to balance multiple commitments – identify potential issues (like burnout), plan preventive measures, implement them timely, and monitor progress regularly.
Making Use of Downtime Effectively
In addition to managing regular working hours, utilize downtime smartly to achieve success in both your full-time job and side hustles like social media management or event planning.
- Dedicate commute times for brainstorming ideas related to your business plan.
- Spend weekends networking online through freelance platforms or attending relevant events virtually. Note: Networking not only helps find clients, but it could potentially lead you to higher income opportunities too. So don’t underestimate its power.
And lastly, always remember: the goal isn’t just about earning extra cash; it’s equally important that this journey brings satisfaction and joy.
What We Learned
Project managers, unleash your side hustle potential!
With their project management skills and expertise, project managers have the perfect foundation for exploring side hustle opportunities. Whether it’s becoming a virtual assistant, a business coach, or even an event planner, the options are endless.
Looking for a side hustle that’s all about fun? Become an event planner and throw the best birthday parties in town!
Why limit yourself to just one side hustle? You can start a few and focus on the ones that are both the most enjoyable and most profitable!
Ready to find clients for your side hustle? Check out our list of top freelance platforms to kickstart your journey.
So don’t let your project management skills go to waste! Leverage your ability to connect people, organize tasks, and mitigate risk through any one of these great side gigs and watch your side hustle income soar!