Tips on how to ensure your side hustle succeeds!
The instability of our economy is pushing more and more people to find ways to add to their main income by having side hustles.
First and foremost, we have to give props to all the dreamers out there, trying to make it happen in the world.
Before we can dive into the tips, let's first gain an understanding of what a side hustle is...
According to the Cambridge Dictionary: 'A side hustle is a piece of work or a job that you get paid for doing in addition to doing your main job.' Because of how unstable our economy is, more and more people are looking to add that extra but of income for rainy days or just to make their current salary extra cushy.
In an effort to help and assist you in growing your side hustle, we went online to look for tips for you to make sure that your side hustle blossoms in 2020. We hope these will be able to help you, with the assumption that yours is up running already.
According to Hustle Groove, the below tips will help you get started.
Strategy #1: Choose a profitable idea
It's one thing to have an idea, but it's a different story to validate it and make sure it gets you to your income goals. Again, we assuming that you have reached this step. Never skip this step. The first you can take is to join: The Side Hustle 7-Day Challenge.
Strategy #2: Choose the right business model
The right business model will help you follow the key purpose of your business. This will also help you define how your business can create, deliver, and capture value.
READ: 5 Ways to Determine the Type of Side Business You Want to Run
Strategy #3: Build a Website
Set up your business to ensure that your customers can reach you in real-time. And there will come a time when your customers reach out to you and you will have to build an email database, you can't do that if you do not have an online page to send people to. There are different types of systems you can use, you can use Wordpress or Squarespace.
Strategy #4: Write a business plan
This will help you set up intentions, financial targets, and help you identify the value you want to deliver to your customers. This will also help you identify your short term and long term goals.
Strategy #5: Automate tasks
Because you have a full-time job, you need to make sure that you manage your time at all costs. That means automating your business tasks so that you can focus on what is currently bringing your hustle income and maybe transform your side hustle into a fully-fledged business.
We hope the above will help you and your business reach greater heights.
Don't forget to listen to The Thandolwethu Show every Tuesday between 9h00 and 12h00. We want to hear what is currently bringing you extra income aside from your main job.
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Picture: Pexels