3 Steps You Need to Take to Start a Side Hustle
Think about things like: securing social media handles, having a distilled brand message and design, a newsletter subscription, trademarking your name/logo, getting an EIN so you can write and receive checks, and establishing an LLC or sole proprietorship.
Before the final launch cycle, tie up any loose ends, and get ready for launch so post-launch everything can run on its own, and is very organized.
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The struggle to establish a side hustle includes converting previously nonwork time to dedicate to it.
To lessen the impact, create a schedule considering your situation and tendencies, like your most productive time of the day and what activity would create less damage if sacrificed.
Having people that you can vent to or ask for guidance is key to making any venture a success. Even if you choose to fly solo, surround yourself with people you can talk to, bounce ideas off of, and get genuine feedback from.
Scour your network for people in the same industry, reach out to mentors, and even ask close friends or co-workers for their honest opinions.
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When choosing your side hustle, pick something you want to do, be or achieve, and actively work toward it. Not only will you enjoy the sense of accomplishment that comes with progress...
Spend some time planning. Then spend a lot more time doing. If you're unsure, do something -- and then react appropriately.
It's easy to think and plan and evaluate yourself out of ever starting a side hustle. See starting a side business as the grand experiment it is. Never forget that the fun is in the doing -- not the thinking.
You may need to spend some time on admin and infrastructure. But you don't need fancy spreadsheets, comprehensive reports, a catchy brand or a mission statement.
Successful side-hustlers focus on selling and working. Anything else is time taken away from generating revenue.
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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 ...
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 lack key skills that relate to your interests or the side hustle you want to create, there's no better time than the present to learn them.
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 failures.
You can do that with objective feedback from potential customers and asking them to join a waiting list, pre-purchase your solution or hire you as a service provider.
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Keep your day job, and start a side hustle while you’re there. To do it, you need to create an asset that earns money for you.
Spend your first week being observant, focusing ...
You’ve settled on your idea and transformed it into an offer. To convince your ideal customers to consume it, know your promises, pitch and prices, and have a short explanation of why your offer matters.
Aim to understand each action, deliverable, resource, and tool you need to launch and then follow through with it. Creating a schedule and sticking to it will help here.
Decide whether to keep investing time in this project or head back to week two and try a different one instead. Knowing when to quit and when to keep going is key to making any side hustle successful.
Even if you decide to abandon the project and choose something else, the experience you’ve gained will help you be more successful with the next one.