Want to take your side hustle to the next level? Here’s how to do it
If you just stop and look around, you’ll notice that everyone has a side hustle these days. Your old roommate drives for a ridesharing company in his free time and your little sister babysits on weekends… it seems like everyone has gotten on the side hustle train except you… so what’s holding you back?
Side hustles are actually great ways to make extra money… they don’t typically get in the way of your full-time job and they act as an additional stream of income that allows you to do other things outside of your primary source of funds.
The only reason a side hustle would get in the way of your full-time job is when it starts to take off and you make the decision to turn your side hustle into your new full-time job… that’s when things can get a little tricky.
Side hustles are looked at more as a “fun” or “secondary” job that you don’t necessarily need but are helpful to have and because of that people don’t take them seriously. The fact that people don’t take it seriously is one of the major reasons why most side hustles never grow.
Yes, side hustles are meant to be done “on the side,” but what about those individuals who want to take their side hustles to the next level?
Well, there’s nothing that says you can’t take your side hustle to the next level, in fact, some of the world’s most recognizable brands started out as side hustles and then blew up to become some of the most lucrative businesses in the world.
Take Phil Knight for example… Phil Knight sold Japanese running shoes out of his car at various track meets as a side hustle while he worked full-time as an accountant. You may not know who Phil Knight is but you certainly recognize the brand Nike! Who knew his side hustle would be the top athletic brand in the world!
Your side hustle might not be on the same level as Nike right now but if you take the time out to apply yourself and take the necessary steps to reach success, your side hustle can indeed reach the next level.
How to Take Your Side Hustle to the Next Level
Designate a Prime Location in Your Home to Conduct Business
You might not think this is a big deal but if you want to take your side hustle more seriously, and especially if you want other people to take it more seriously, you need to seriously consider designating a specific area in your home to strictly conduct business out of… Realtors don’t say “location, location, location” for nothing!
Whether you decide to hone in on your freelancing skills or sell products you create by hand, you’re going to need to create the perfect home office to increase productivity. It can be quite hard to work from home, if you think about it… you have to have a certain level of discipline and you need to have the right tools and resources as if you were working in an office building.
Ultimately, you need to set yourself up for success and make sure your home office is in a location where you’ll be free from distractions. Just make sure this is something you really want to do because it can be hard to work a full-time job in an office setting and then have to come home to an office setting and do additional work as well.
Get Your Website Up and Running
Building a website is one of the easiest yet most intimidating aspects of taking a side hustle to the next level. Why? Because people are easily intimidated by technology.
That type of thinking is what keeps lots of people in the dark in more ways than one! Technology is the era that we live in and if you don’t get hip to it, you will get left behind. There are website builders for beginners as well as experts alike, that will help you create the website you want and will show off your business in the most positive light.
Having a business website is absolutely important because how do most people shop these days? They shop online, and by making your products accessible to potential customers online, your potential to earn has skyrocketed! That’s a lot better and easier than selling your products out the trunk of your car like Phil Knight! His hustle was like no other!
Create a Business Plan
Your business plan is the blueprint to the success of your business and without it, you won’t know where you are in reaching your business goals. It’s in a business plan where you’re going to find out who your competitors are, who your target audience is, how much money you need to get your business off the ground, and the future of your business.
Determine Your Business Structure
Most people who work side hustles treat their small scale business as a sole proprietorship, where you generate revenue and get to keep all of the money you make but as your side hustle grows and you plan on making it more legit, then you’re going to want to create an LLC to protect you from certain liabilities, especially as your business grows.
Invest in Business Insurance
Business insurance is your protection in the event some type of loss or damage occurs. Lots of people tend to think that business insurance isn’t necessary for online businesses but that couldn’t be further from the truth.
Everything from data loss to malfunctioning products that cause injury are instances that cause damages to your customers and they would have every right to sue you if they choose to. At the minimum, you want to at least insure your business with general liability insurance. Everything from medical expenses to personal and advertising injuries, you’ll be covered.
Brand Your Business
There are several different ways to brand your business. You have the option of leveraging social media to your advantage, hiring an SEO expert, or you can use a press release for digital media, but whichever route you choose, your brand needs to have a personality and voice that you want your audience to see, hear, and remember. Just remember, whatever tone your business represents, it needs to be consistent across all channels, especially on your business website.