Turning Your Side Hustle Into A Successful Business
Whether you make resolutions or not, the start of a new year feels like a new beginning. I mean, new year, new you - amirite? But 2021 is not just a fresh start, it’s a new era. An era where you can order up a side of hustle and turn it into a day job.
With the rise of technology and ingenuity, it’s never been easier to start a side hustle. But how can you take a side gig and turn it into a legitimate business with a real income stream?
Sometimes it’s easy to get overwhelmed by big ideas. As a society, we’re always looking for the next BIG thing, we sometimes forget to start small. Just remember, small steps lead to big actions.
Start With A Business Concept
Many people get scared when it comes to drafting out a business plan because they think it entails a structured 50 page document on the success of their future business, but what you really need is just a simple and concise summary of your business concept and goals. It simply organizes your thoughts and puts pen to paper. Don’t let the formality of a business plan scare you away from starting your dream
Research Your Market
Now that you know what you want to invest in as a side gig, it’s time to do some research. Is there a demand for your new business? What makes your product or service different from what’s already on the market? Scope out the competition. What will be your competitive advantage? These are all things to think about when it comes to researching and identifying your niche market.
Time Is Not Money
We’ve all heard that time is money, but when it comes to starting a business, you shouldn’t treat time as currency. Your time is not money, it’s groundwork. Building a side gig from the ground up requires time and hard work, but always remember to balance your energy to avoid burnout.
Market Your Side Hustle
If you’ve invested time and money into your side gig, don’t make the mistake of not marketing your business. Ignoring online marketing is like opening up a business and not telling anyone about it. Whether it’s building your online presence, designing a logo, or creating a website - marketing your side hustle is what will take your moonlighting gig into a profitable and rewarding future.
Think you may need professional help? DS&P is your one stop shop for all your digital marketing needs. Reach out to us today to get started. Even if you’re not ready, but you would like to discuss the possibility of working in the future, or simply have a question, don’t hesitate to contact us.