To avoid having to work for years before turning a profit, start a side hustle you can fund through savings or that you don't need to fund. Provide a service that only requires the tools you already have.
Prove to yourself that there is a market -- and that you can serve that market -- before you take on any debt. If you can't find a way to start your side hustle without going into debt, find a different idea.
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Avoid spending money before you actually have demand for what you are acquiring.
Allow yourself to be inefficient until you have enough work to make greater efficiency truly matter.
If you just want something -- and there's nothing wrong with that -- don't use starting a side hustle as an excuse to buy it.
Plenty of failed side-hustlers admit they started their business as a way to rationalize the purchase of something they had always wanted to own.
If you want to spend on something that doesn’t affect the customer, give up on it.
Spend what money you have where it makes a real difference to your customers -- because without customers, you don't have a side hustle.
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.
Rather than finding a way to make a million dollars, find a way to serve a million customers. Start small and prospect where you have a reasonable chance of success.
Along the way you'll learn and build a customer base. Later, you can leverage that customer base -- and everything you've learned -- to successfully hunt bigger game.
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.
Decide how many hours you think you can spend a day on your side hustle. Then add 25 to 50 percent to that number, write it down and commit to that schedule.
See the schedule you create for your startup the same way you see your schedule for your current job -- as non-negotiable. Otherwise you won't see any progress and you'll quickly get discouraged.
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 progressing toward a goal but you'll also feel better about yourself and your life.
See your side hustle time as "me time." Because it is -- it's time you spend making the most of your life.
Don’t be tempted to think about, dwell on, or even work on your side hustle when you're at your full-time job, because this is wrong and may cost you your job. When you start a side hustle aim to be great at your full-time job and your side hustle.
So even before you start your side hustle, work as hard and efficiently as possible. Get more done than anyone else, if only so you can leave on time without regret, and without raising concerns about your performance and dedication.
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.
Don’t niche down too quickly. Spend the first few months building your side hustle up by learning, growing, and trying different strategies to see what works best for your business.
Side hustles are good for companies. The rich perspectives derived from diversity of experience only make your team stronger.
Side hustles are more than the clickbait suggestions such as "rent out a spare room on Airbnb" or "take online surveys." It is a way to make some extra cash that gives you a hedge against feeling stuck. It can be something you create or your true passion.
❤️ Brainstash Inc.