In today’s economy, it seems as if everyone is starting a side hustle, and for good reason.
Now more than ever, the average American worker is living paycheck to paycheck. The cost of living continues to increase as salaries either decrease or remain stagnant.
I am sharing with you 10 simple steps you can follow to start your very own profitable side hustle!
10 SIMPLE STEPS TO STARTING A PROFITABLE SIDE HUSTLE
1. COMMIT TO STARTING A SIDE HUSTLE
The first thing you need to do is make the commitment to start a side hustle.
This may sound easy but if you have kids and/or work outside of your home, this can be tricky.
When I decided to start this blog, I was working 60 hours a week, taking care of a very hands-on 8 year old and trying to send an 18-year-old off to college!
Talk about STRESS!!!
However, I knew that if I wanted this blog to be successful, I was going to HAVE to find the time to work on it. So I made a commitment to work on it at least 1 hour per day and if I could squeeze in more time, I did. I’ve had some very long days and nights and missed out lots of social activities but the goals I had set for myself were my motivation for continuing.
It is sacrifices like these that you will need to make and if you are not ready to do so, you probably are not ready to take on the added responsibilities of a side hustle.
2. IDENTIFY YOUR STRENGTHS AND WEAKNESSES
Do you possess a certain skill set or knowledge that can potentially earn you some extra cash?
For instance, if you have worked as a bookkeeper for the past 20 years, why not offer bookkeeping services to local small businesses? Or if you have been successful at starting and growing multiple businesses, you could offer consulting services.
On the contrary, if you absolutely have no knowledge of bookkeeping or have no idea what you would consult about, you probably don’t want to try offering those services to potential clients!
Once you have identified your strengths and weaknesses, it will be easier to decide exactly what type of side hustle you want to start.
3. RESEARCH AND CHOOSE A SIDE HUSTLE
After you have identified your strengths and weaknesses, you can then begin to research different types of side hustles. Feel free to check out my Ultimate Side Hustle List to help get you started!
When researching and choosing a hustle you should look for the following:
- one that highlights your strengths
- one that can potentially earn you money
- one that you can perform day in and day out without getting burned out
- a hustle that you have a passion for or can become passionate about
4. DETERMINE WHO YOUR AUDIENCE WILL BE
Once you have determined what side hustle you would like to pursue, you should then determine who your target audience will be.
A target audience is a certain group of individuals at which your services and products are aimed at. It is very important that you determine WHO your audience will be otherwise, you will have no idea who you are marketing to!
For instance, if you determined that you are an excellent writer who adores kids and you want to write childrens’ books then you certainly would not target men over the age of 18 right?!
You want to target kids and parents of kids within a certain age group.
This is why it is so important to determine who your target audience is!
5. SET MEASURABLE AND REALISTIC GOALS
Set realistic, measurable and attainable goals!
If you begin by aiming to write and publish 10 kids books a week, you have already set yourself up for failure! This is not to say that it cannot happen but you don’t want to set such a large goal and feel defeated if you cannot reach it.
During my journey, I have found that setting small and attainable goals on a daily, weekly and monthly basis has helped me tremendously!
6. CREATE A PLAN OF ACTION
As with any business, it is important to have a plan of action.
A plan helps you stay organized, keeps you on track and holds you accountable. No matter what you decide your side hustle will be, always have a plan of action!
- How am I going to market my side hustle?
- How am I going to stand out from others doing the same thing?
- How am I going to appeal to my target audience?
- How am I going to solve my audiences’ problems?
7. DEVELOP YOUR SIDE HUSTLE
Now that you have an idea of what your side hustle will be, determined who your audience will be, set goals and created a plan of action, it is now time to develop your side hustle.
Use the first couple of weeks to jot down any ideas that come to mind that relate to your side hustle.
In addition to any ideas, also jot down any challenges and opportunities that may further help develop your side hustle.
I still carry a journal with me everywhere I go! Anytime an idea pops into my head, I jot it down.
This really helped me keep all my ideas in one place and have a point of reference when I needed it.
8. LAUNCH YOUR SIDE HUSTLE!
Geesh! Seems like a lot of steps to launch a side hustle right? Well just keep in mind that the end goal is to create a side hustle so successful that it becomes your main hustle!
Reach out to everyone you know and let them know about your new gig. Ask family and friends to keep an ear out for anyone that may need your services. Word of mouth is still the best advertising one can get!
9. MARKET YOUR NEW HUSTLE
Now that you are officially open for business, you should begin marketing your new hustle.
Start by setting up a website to begin promoting your products and/or services. It’s not as hard as you think!
Recent technology makes it easier than ever before to create your own website. (Click here to receive 60% off a hosting plan with Siteground)
Once you have your website up and running, you should set up profiles on social media platforms such as:
Aside from word of mouth, social media is definitely the place to be to promote your new business! You should also use these platforms to direct traffic and potential clients to your new website!
Be sure to share engaging information on these platforms in order to begin building a following.
Do not feel as though you have to limit yourself to just to list above! If putting up flyers in your local coffee shop brings you a mountain of traffic and paying clients, by all means, hang those flyers!
10. MONITOR AND EXPAND YOUR NEW HUSTLE
WHEW!!!! That was a lot of work wasn’t it?
Hopefully, by now you have the beginnings of a thriving side hustle making an extra couple hundred bucks or even an extra few thousand bucks every month! Now in addition to doing everything above, you need to be sure you are doing everything you can to expand your new hustle. If there are responsibilities that you just do not have time for any longer, outsource them to others. A virtual assistant would be perfect for those types of duties!
Continue to redefine and prioritize your goals in order to expand your hustle even further. Your goals at this point in your business should be a bit different than they were when you were getting started.
I never said starting a side hustle would be easy but I did say it would be worth it!