THE 5 STEP SOLUTION TO BUILD A PROFITABLE SIDE HUSTLE FROM HOME.

 How would it be if you made some extra money by doing only what you are always passionate about?

Wouldn’t that be fabulous!!?  Building a successful yet profitable side hustle is not a serious business anymore and everybody can begin like a cakewalk.

All we need these days is a Laptop\Smart phone, Internet Connectivity, and an impulse to make an impact.

Now, what is a Side Hustle?

In Layman's terms, ‘A side hustle is something that can range from a part-time job to a hobby you’d like to make money from’. According to a study conducted by Bankrate.com

“Over 44 million young American adults have a side hustle apart from their main source of income”.

And a notable fact is that, according to the U.S. Bureau of Labor Statistics, “50% of new businesses fail within the first few years of its incorporation”. The reason for this failure is that when people start on a new venture they are on cloud nine and give up on the existing source of income.

But the truth is that you necessarily don’t have to quit your job to start on with your side hustle. You can spare your free time initially and also keep your job for safety and financial stability.

Balancing both a side hustle and a full-time job can be daunting in the beginning, but as you figure out ways to simplify the process & start to see cash flow, you can slowly bid goodbye to your job and grab hold of your side hustle full-time.

Here are 5 workable steps to make your side hustle a success.

STEP 1.  PREPARE AN INVENTORY OF YOUR SKILLS AND PASSIONS:

Always play to your strengths. Don’t take a risk by starting with something you haven’t known or tried before.

To narrow it down further, simply answer these 3 questions;

^What am I good at & will it serve well for the side hustle?

^Is it something I’ve always loved to do?

^Can I create something out of this (product) OR teach and mentor people?

Write not just one, but as much as you can. If there are limited ones, well and good.

You should also keep your situation in mind. A side hustle means initially you would be left with a limited amount of time. If your ideas are enormous and require more time and energy, you would give up over time. So have them small and scalable in the beginning.

Of course, you should be willing to make some sacrifices and cut down on some entertainment.  It will take a considerable amount of time, but don’t rush.

STEP 2. RESEARCH AND DERIVE INSPIRATION:

Before you even decide everything on your own, find out what people in your niche and area are doing. How are they selling or providing service?

If you are willing to start a YouTube Channel, write a blog, start a website, or provide coaching and mentorship, check out different ways to make them creative and less expensive for you.

Watch YouTube videos to help you figure out different ways to come up with something out of the box. Utilize google to your maximum benefit and research-research & research.

Some of the most popular side hustles these days are;

-         Starting a YouTube channel

-         Creating a blog

-         Running an e-commerce store

-         Graphic & logo designing

-         A Baking business at home

-     Photography small business

-        Social Media managing for small businesses

-         Online tutoring

-         Food and product reviewing

-         A virtual assistant or digital marketer

STEP 3. PREPARE A MASTER PLAN:

By a master plan, I don’t mean you should draft a document with a proposal, analysis, and layout. Sit and write down what all you should get ready.

If you’re selling a product, first figure out how much expenses you have to incur and how much you will have to charge for the product. If it’s a service, write down how much time and effort you’ll have to put in to prepare and then fix the price accordingly.

My suggestion would be to check out on all these;

> How much time can you allocate each day?

> What you should learn and skill-up before you begin?

      When you are starting a business, make sure to reduce your expenses as much as possible, and search for free resources online.

Finally, don’t keep over-thinking and don't ask for opinions. JUST START!!

STEP 4. THE SOCIAL MEDIA PRESENCE:

Living in the 21^st century if you are negligent to make your presence on social media, you are straggling way behind your fellow competitors and leaving back a ton of trustworthy customers.

Instagram and Facebook presence are musts for any side hustle to flourish. With most of your customers and audience coming from social media platforms, where are you going to go in search of them?

A powerful and highly attractive Instagram page is a stern requirement. Prepare a kickass bio, post consistently, diligently reply to queries, and develop that trust with people.

‘There are people who buy products if recommended by a trustworthy person rather than buying from ads & promotions’. “43% of global shoppers research products online via social networks before purchasing”.

Okay!! What are you waiting for now!? Go and bump on Instagram and Facebook.

STEP 5. NETWORKING WITH PEOPLE:

I can’t stress enough and stop talking about this on each of my blogs as to how important networking is. If you keep your mouth shut and not build connections with people, they are not gonna take it from you.

After all ‘Word of mouth’ is the best form of marketing. Get there, compliment, and cheer for people. Appreciate even the smallest achievements and be genuine with your feedback.

- When you are beginning, don’t shy to do these 2 things:

#  ASK for help if required. (Don’t pile up everything for you)

# SHARE your work with all the people in and around your circle. If they accept it genuinely – super good, else don’t stop - keep sending.

Before I end this blog, I would like to throw some words from this whole blogging journey of mine.

1. I didn’t ask for opinions before I started this blog.

2. I upskilled my writing and reading to enhance my knowledge after I began.

3. I try and test everything before I share it on my blog. 

4. I don’t mind to share my work with as many people as possible – I am confident that my writings are enriched with value (Reading or ignoring is left to the reader's discretion)

5. I don’t compare myself with anybody else – I am unique in my way.

The best time to build a business is when you have a full-time job that covers all of your living expenses.

There is no perfect time to start. NOW IS THAT TIME. Give your 100% and do it for yourself and not for anybody else. Critics & ignorance are always part of the journey. That’s what pushes you to do better.

If this blog inspired you to start your side hustle, please stop by to leave a comment or send me a message on Instagram or Facebook.

Your honest feedback is what keeps me push harder. Waiting to hear from you.

Until next time.