Creating your own business can be a way to get out of the 9-5 daily grind. Trying to start a side hustle while working full-time to support yourself can seem like an impossible with ask. With these ideas, the impossible might just become possible for you.
1) Know Yourself.
Your side hustle should be something that you’re great at. Make a pros/cons list of your skills, think about a product or service you could provide, then figure out a way to provide it. Focus only on your top strengths as you get started.
2) Validate Your Idea.
Over 40% of businesses fail because they haven’t validated their product or service with their targeted market. Provide a few services, see what will work, then abandon what doesn’t work so you can focus your energy on being better.
3) Give Yourself an Advantage.
Find a way to put your side hustle at a unique advantage compared to your competition. When you’re the better choice, people will come to you. That might mean changing your cost structured, offering different products or services, or offering a better distribution network.
4) Be Realistic.
A side hustle is going to bring in a little bit of cash when you first get started. You won’t become rich in 6 months. Or a year. Or maybe even two years. Your first goal is to make your side hustle profitable. Then turn it into supplemental income. Then make it your full-time job, if you wish. Be realistic about the process to avoid early disappointments.
Take all the cons you’ve got on your strengths list and look to outsource them to someone. Freelancers are very affordable today, though you do need to perform your own due diligence before hiring someone. You’ll be able to stretch your side hustle further without much of an investment this way.
6) Ask for Feedback.
Whether it is positive or negative, feedback helps you to grow. Look for unbiased sources of feedback, like an online survey, to pull usable pieces of advice that can grow your side hustle.
7) Keep It Separate.
Your full-time job is still your top priority. Don’t mix the side hustle with it. Blurring the lines by working on the side hustle while getting paid at your job might seem like an efficient way to use your time. It’s not. If your boss finds out you’re working on a personal business venture at work, you might find yourself unemployed.
A side hustle is a great way to start earning an extra income. It might even become your next full-time job. Use these ideas to push your way toward greater success.