The traditional nine-to-five is becoming a thing of the past, with more and more people testing the waters of entrepreneurship. Whether you want a little extra cash in your pocket, or have dreams of making the switch to full-time business owner, a side hustle is the perfect solution. Offering the opportunity to get creative without completely ditching the security of a full-time gig, side hustles are quickly gaining popularity. What can you do to effectively master the art of the side hustle? Read our 8-essential tips, below.
Do What You Love
You need to love your side hustle. It should be your passion; something that you’d do for free (and in the beginning, you might be). Since you’ll be working at the end of your traditional workday, on weekends, or basically whenever you have free time, it’s important to love what you do in order to stay motived.
Know What You Want
A side hustle can be a hobby that gives you a little extra cash, or it can be something that you’d like to grow into a full time gig. Taking the time to think about your ultimate end-goal will play a part in how you structure your time, and how you promote your business.
Regardless of what you choose, your side gig is going to take time. Understand how it’s going to fit into your life, and just how much of your energy you’re willing to dedicate to your new venture. Figure out if you’ll need to cut back on potential commitments, or see if you can find a little extra support. You’ll likely be sacrificing time with family and friends in order to help your side hustle take off.
With plenty of demands on your time, mastering the art of the side hustle means that you have to get organized. Identify work priorities and deadlines, but also schedule time for visiting with friends, or a trip to the gym. Writing down everything that you need to accomplish keeps you accountable, helps you work smarter, and alleviates stress. Whenever possible, tackle your side hustle at times that you’re most productive.
Develop Passive Income
A passive income is cash flow received on a regular basis that requires minimal to no effort to maintain. Things like affiliate links, online advertising revenue, e-books, or specialized tutorials relevant to your side hustle can be sources of passive income for your growing business.
Spread the Word
Once you’ve started a side hustle, tell people about it! Reach out to friends, family, and others in your network to share your passion. This will help to build a network for your business. Have a website, newsletter, and/or social media channels where you can post updates on your progress, as well as positive customer reviews in order to continue the conversation.
Don’t Give In to Temptation
While you may be tempted to work on your side gig at work, don’t. It’ll only hurt your relationship with your employer and coworkers. Keep any work associated with your side hustle – including checking emails and social media profiles – to outside of your regular work hours.
No matter how much you love your side hustle, it’s still extra work. Take the time to celebrate reaching each new milestone, like your first order, or earning a certain number of viewers, subscribers, or followers. Don’t forget to regularly take some time to recharge to avoid burnout.
A side hustle gives you the opportunity to work on something you’re passionate about, without giving up the security of your nine-to-five. A successful side hustle can also help you to pay down debt, take that dream vacation, or contribute to your retirement fund. And that value goes way beyond an extra paycheck. Contact us to learn how you can take your side hustle to the next level.