According to Zapier, the web automation tool, one-third of Americans have a side hustle, and many more plan to start a side hustle soon. A part-time gig serves a clear purpose: it enables Americans to bring an additional income to the household. While the side hustle may not replace a full-time job, it can help pay off debts, save money, or even finance big expenses. Some side hustle ventures even grow into successful businesses. However, regardless of your plans, starting and developing a side hustle can be tricky.
#1. Save money
It can be odd to think that you would need to save money before launching your side hustle. However, you have to consider the additional administrative costs of your venture. A side hustle will require some branding strategy, an invoicing and accounting solution, contact information, etc. While it is unlikely to break the bank, you have to consider the cost of creating a logo, using simple invoicing tools, setting up your online presence, etc. In other words, before you can make money with your venture, you need to figure out how to raise your starting capital. The good news is that side hustles typically require little funding, so saving money every month through careful financial management will be all you need.
#2. Create dedicated social media accounts
Are you ready to establish your online presence? Ideally, you want to separate your personal and your professional social media profiles. Creating a unique side hustle account enables you to promote your services and network with the relevant audience. Don’t miss the opportunity to create a business account on platforms such as Instagram and Facebook. Business accounts are free to create. They allow you to gain access to relevant data, create advertising campaigns, and reach a bigger audience group. You can also sell directly on the social media platform.
#3. Schedule time for it
Even if you’ve got a full-time job, you can’t afford to let your side hustle activities fall behind your day-to-day responsibilities. Side hustle ventures require commitment. Indeed, if you can’t maintain regular productivity, even if it is only a few hours every day, your clients are unlikely to stick with you. Successful side hustlers schedule time in the morning or in the evening to manage their ventures.
#4. Just start
This might seem like a strange piece of advice. However, if you’ve never run a business before, you are unlikely to know what to expect. There’s only so much you can do to prepare and research your market. Ultimately, the quickest way to understand your responsibilities as a business owner is to start building your side hustle. Taking the first step will expose you to new challenges and environments. As daunting as it can be, sometimes you need to accept that nothing will ever be ready. Start first, and then adjust your strategy and method once you understand what to expect.
#5. Consider your next steps
it can be a good idea to think in the long term. A successful side hustle will not become a business overnight. However, you can consider essential growth steps such as requesting reputation management services before bringing your side hustle to the next level or seeking financial input for expansion.
Many Americans start side hustle ventures to support their household income. However, with the right approach and business know-how, the venture could prove a huge success. Are you ready to get started?