Ah, the side hustle. Ask any young person how many jobs they’re currently working and the answer will most likely be two to three – one full-time job and a couple of side gigs.
It sounds like a lot of work (and it is), but we can easily see the appeal. You have security with your main job, and extra income, passion, and freedom with the second. Determined, aspiring entrepreneurs view the humble side hustle as a stepping-stone toward financial freedom, and in our volatile economy who can ignore the opportunity to make extra money?
Here’s your step-by-step guide to get your side hustle started
What is your offering?
According to an extensive study by CB Insights, “lack of market interest” is the top cause of startup failures. It doesn’t matter how air-tight your sales and marketing strategies are if no one actually wants what you’re selling. Do your market research and evaluate your own skills.
We suggest a product that can be purchased online, or a service that can be delivered digitally (like copywriting or graphic design). An online side hustle is open globally, 24/7, and won’t disturb you while you’re busy with your full-time job. Flexibility is imperative for success and sanity.
What about startup capital?
You need money to make money, but thankfully you don’t need to empty your savings to start your side hustle if you’re smart about it. Like we said above, we recommend an online business for the flexibility and ease, but also for the significantly lower costs. A beautiful, simple one-page website or ecommerce site is enough for your business needs, and social media is free to use.
We’ve created heavily discounted packages to help entrepreneurs get their side hustles set-up online during the pandemic. The corona virus has affected us all and we want to help. View Online Set-Up Packages here.
Define clear goals
We like big dreams. However, when it comes down to making them come true, you’ll make zero progress by aiming for the endgame from the get-go. Having attainable goals will keep your business on track and keep your motivation high. We’ve all heard of the SMART Goals Criteria (Specific, Measurable, Achievable, Relevant, and Time-bound) and that’s because it’s an excellent framework to stick to.
Delegate outside of your expertise
The beauty of a side hustle is being able to manage things yourself, but you can’t do everything alone.
Well, you could try, but it might look awful and totally flop. Maybe you’re brilliant at admin and strategy, and not so much at design or the technical stuff. That’s okay. Outsource what you can’t do, and you’ll have a much more cohesive business.
Punch perfection in the face
If you wait for things to be perfect, you’ll never launch. We’re not saying do a shoddy job, but there’s no use obsessing over tiny details when you don’t know how potential customers will respond. Perfection will trap you in an endless dream and waste all your time and money. Draw up a launch plan and stick to it.
No more waiting! Get your side hustle up and running in a week.