Learn more about business with this collection
How to analyze churn data and make data-driven decisions
The importance of customer feedback
How to improve customer experience
Mentally Prepare
Think if you are willing to sacrifice your free time to struggle to establish a side hustle and if you can handle the consequences of it.
If you are willing, develop a system of positive triggers and routines to help support your self-discipline and exert all your extra effort to grow your side hustle, then you have the psychological foundation to build a successful business.
896
3.68K reads
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Ask For Real Customer Feedback
Without feedback from your first customers, you risk failure as your project may not satisfy your customer’s needs.
Without objective, external feedback, you risk executing the plan and investing resources, only to lose all in the end. Try to internalize harsh feedback and you...
679
1.3K reads
Before Quitting Your Day Job
Keep your day job until your side hustle is providing you with a sustainable, growing cash flow that exceeds 75% of your day job income, so you can increase your chances of success.
Moreover, have at least six months worth of savings for both personal and business purposes....
764
2.28K reads
Delegate Work Outside
Starting a side hustle you're going to have weaknesses and some of the skills necessary to efficiently running your side hustle must be outsourced so you can free up your time to do only what you're best at within your business.
It's also more affordable in the long run as the va...
690
1.5K reads
Validate Your Side Hustle
Your side hustle idea may seem awesome and disruptive to you, but your potential customers will likely ignore it like most “brilliant ideas” or even not have a need for it. So, ensure you're not creating a solution to a problem that doesn't exist, as this is one of the top causes of startup failu...
777
2.41K reads
Keep Your Day Job
Don’t work on your side hustle during company time or with company resources. Not only is it unethical, but it may violate your employment agreements.
Honor every contract term and perform well at your day job even as your side hustle picks up momentum. Compromising your quality o...
701
1.48K reads
Define Clear Goals
At the beginning bring in one customer at a time to avoid becoming overwhelmed by the demands of larger numbers.
Having practical goals that are attainable on a daily, weekly and monthly basis helps you develop positive habits and train yourself for success. One good framework to use...
746
1.84K reads
Your Skills And Areas Of Interest
Acquire relevant skills, experience or industry knowledge necessary and ensure you have the passion and competence for what you are going to work on.
A good start is to monetize the skills you already have that are related to the side hustle you want to establish this. And if you lac...
822
2.64K reads
Differentiate Yourself From Competitors
Secure your value propositions with a serious competitive advantage.
That can be anything that differentiates your business from the competition. This can range from smart/low pricing, aggressive sales tactics, higher profit margins, unmatched customer service, be...
784
2.17K reads
Set Milestones
A good, viable side hustle idea should be launched, monetized and iterated. Don't waste time obsessing over trying to build the perfect solution when you don't yet know what exactly your customers will resonate with most.
To help you beat the inertia, draw up a simple actio...
765
1.59K reads
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