Why do you want to start your side hustle?
Do you need a little extra income to pay those monthly bills?
Or is it a driving ambition, an itch, a dream that can no longer be ignored?
Perhaps you just hate your job!
Either way, it poses another question.
How do you do a side hustle with a full-time job?
Fortunately, thanks to modern technology it’s never been easier to start one.
It’s why 57 million Americans freelanced part-time last year; that’s 35 percent of the total workforce!
And you can do it too.
Here are 7 things you can do right now to get your side hustle off the ground while keeping your day job.
Let`s get your business up and running.
1. Don’t Take A Leap of Faith
You’ll often hear people say, follow your passion when starting a side hustle. After all, you already have a job (you possibly hate) the last thing you need is another one.
For your hustle to succeed, you have to provide value and love what you do.
You need a sweet spot between what you’re passionate and knowledgeable about. This is why you must do an inventory of your skills, abilities, and passions, and gain the knowledge your marketplace requires.
2. Choose a Profitable Side Hustle
Odds are you don’t have time to waste starting a side hustle just for the love of it; you need profit.
A common question people ask is, “how to start a successful side hustle and make six figures”?
The truth is few people make six figures from a side hustle, but many do make it when that hustle becomes their full-time gig. And that’s why you must choose a profitable one from the beginning.
Start by compiling a list of possible side hustles that suit your skills, then make a second one containing products or services people need that you could provide and they’re willing to pay for (we’ll look deeper into verifying your side hustle next).
Your goal is to find an idea you can provide unique value to, and you don’t have to be 100% original; most successful businesses start by improving on a product or service that already exists.
Let’s say you’ve found your sweet spot, something you’re passionate about and have (or can get) the required skills in. Now’s the time to discover the bottom line and ensure what you’re investing in translates into dollars earned.
And you can discover what others are charging in your chosen niche by researching where they’re selling their products or services.
If you’re artistic and making jewelry, then check out Etsy. If you’re drop shipping or selling your own products, look at Amazon or eBay. If you’re consulting as a side hustle, you can use numerous online consulting platforms to find what you need.
3. Validate Your Side Hustle Before Investing
Choosing a niche, investing in your side hustle, and hoping for the best isn’t a good idea. You need to ensure what you’re investing in will provide a suitable ROI (return on investment).
One way is to land your first paying customer before starting your business.
Sounds contradictory, right? Don’t worry, it’s simple enough.
Approach family, friends, and colleagues and ask for an unbiased opinion on your idea. Would they buy it, how much they’d pay, and why? If the feedback is positive and someone actually pays you, you’ve taken the first step in validating your side hustle.
However, you need to dig deeper and confirm there’s a buying audience to ensure it’s worth your time.
Here’s how you do it:
- Use Google Trends to research and validate your hustle: Go to trends.Google.com and see if your side hustle’s market is growing, shrinking, or flat-lining.
- Google Keyword Planner: You can search for keywords using phrases from your niche, check the impressions, and find out how many people search online for it.
- Run A Facebook Ad Campaign: You can create a campaign, choose your target audiences demographic, insert your niche target keyword, and follow the audience definitions (interest).
All of the above strategies tell you the numbers you need to know, and it pays to put the research in at this early stage as it can help you avoid wasting time and money down the line.
Side hustle validated, it’s time to start your business!
4. Dream Big, But Start Small
Starting any business is daunting, and if you approach it all at once, it can often become overwhelming, especially when you already have a day job.
A proven strategy for getting things done is to break the start-up process down into manageable, actionable steps. It works because it creates consistency and stops you from becoming overwhelmed, and that’s essential when starting a business.
Start by setting aside daily half-hour time blocks and choose the most straightforward tasks because progress creates momentum.
There are many productivity tips you can use, one being SMART goals:
These are Specific – Measurable – Attainable – Relevant – Time-based.
- Specific — Clear and specific goals that will help start your side hustle.
- Measurable — Goals you can assess with quantifiable and tangible results
- Achievable — An obtainable objective, don’t overstretch yourself
- Relevant — Ones that will move you forward, no matter how small
- Time-bound — Goals with a realistic finish date
And a sure way of hitting your goals is to use milestones.
Here’s why:
5. Set Milestones and Keep Moving Forward
Many people never get past the idea stage of launching a side hustle; others fall along the way. It’s normal, but you can avoid this happening to you.
If you’re a mom reading this, you already know how to improvise and get things done. And that’s precisely what successful start-ups do, they find solutions, often not perfect, but good enough to get the business up and running, then improve when possible.
If you try and create perfection, you’ll never start your business; it doesn’t exist!
Instead, draw a simple action plan with your key milestones and deadlines pertaining to them; this will act as your guide. And as you tick each one-off, you’ll be one step closer to launching your business.
And don’t be afraid to tell family and friends what you’re doing, put it out there, and go for it.
Trust in yourself, and never give up.
6. Differentiate Yourself from Competitors
This step is one of the most important because if you don’t stand out from your competition and get recognized by your target audience, it doesn’t matter how good your idea is or how hard you work.
Every successful business builds a brand to differentiate itself from the competition, and your side hustle is no different.
And the good news is it’s never been easier to do.
Start by using an online logo creator and nail your market-related logo in minutes. Many of these AI (artificially intelligent) platforms also enable you to brand all of your business needs by implementing design elements such as color palettes, fonts, infographics, and images. Using your branding assets in a consistent way will help you foster brand recognition and obtain a competitive advantage.
Remember, your brand is your business’s personality; it’s what people engage and connect with. Your goal is to make it as unique as you are; that way, you’ll truly stand out from the crowd.
7. Build a Sustainable Income Before Quitting Your Day Job
If you want to start a business and keep your day job, this step is still worth considering. But suppose you’re starting your side hustle to become a self-employed entrepreneur. In that case, you must build a sustainable income before quitting.
Your goal is to create a cash flow that matches or exceeds your current job; however, entrepreneurs love risk and often quit their day job when they hit 75% of their total income.
The level of risk you take is up to you, but avoid putting financial pressure on yourself and your new side hustle by ensuring you can pay the bills, even when the going gets tough.
