Image Credit: Unsplash
Lots of people set up side hustles in order to make a little bit of cash on the side while doing something fun. Whether it is a hobby like blogging or something crafty, there are all kinds of ways to make a dollar or two.
But what if you were to turn your hustle into something more?
Though your side hustle might start as a fun and profitable way to spend your evenings and weekends, it might also be the trigger you need to leave a boring job behind. Finding a business idea that you feel passionate about is an incredible feeling and giving that business a chance to thrive is a big deal.
Here are a few things you should think about before you jump in.
Setting Up Your Business
Even before you decide to take your side hustle to the next level, it is worth setting up your business properly. Though a casual side hustle can work really well just within your social group, if you want to go a bit bigger, you need to think about making your business more legitimate. Getting a registered agent service, opening a dedicated bank account and creating a website are all basic steps you should take.
While you are in the process of setting up your business, you should think about how your business model is going to work. There are lots of ways to set up a successful online business and so it is worth taking some time to consider the best route for you and the products or services you are providing.
Though you might be tempted to give up your day job right away, it is much smarter to hold back and see how things pan out first. You can always step back from your current role later on if you want to but first, you should see how the business goes. Bringing in some cash while you are still experimenting will reduce the stakes and give you a chance to take a few more risks without huge consequences.
When you know what sort of business you want to set up, you can start to make a bit more progress. Turning a side hustle into a full-time gig isn’t easy but when you have a destination in mind, you can start to map out the route you are going to take. Whether you plan to take a few weeks to build your business or a few years, keep this route in mind.
Setting goals is a good way to get started. For example, you might decide that you want to build a website to host your services and products and then set a date for completion. Alternatively, you might prefer to think in terms of profit and set yourself a monetary goal. Having these goals will give you a plan and a purpose as you develop your business but don’t worry if you change your mind.
Whatever you decide, make sure that your goals are reasonable and achievable. Don’t push too hard to begin with, just give yourself time to learn the ropes. There are all kinds of things you will learn throughout this process that you couldn’t learn anywhere else so don’t be too tough on yourself if you go more slowly than you imagined.
Marketing and Social Media
Word of mouth is a great way to start a side hustle but when you are growing your business, you will need a more robust marketing strategy to make your business work. Luckily, in 2019, there are a lot of different ways to market your business without spending a fortune. Time and a willingness to experiment is all you need.
Social media is a brilliant tool and when you are getting started, there are lots of free ways to grow your social media presence. Again, this can be a lot to take on so don’t worry if you don’t get immediate results. Posting regular interesting content on social media is a good way to get started and begin building your audience but when you are ready, you should definitely try doing a few paid ads.
Moving from side hustle to full-time job is a big challenge to take on because while you are building your business, you will also need to keep working at your regular job. Though it might be tempting to jump in straight away, even dedicating all your time to your side hustle won’t make it happen overnight. Building a business takes time.