- November 20, 2019
3 Ways to Build Your Side Hustle
Side hustling is nothing new. In fact, some jobs like tuning pianos, are almost exclusively done by twilighters earning a bit of extra cash. But while side hustling may not be new, it is certainly taking on a whole new life of its own. In recent years, more and more people have turned to their side hustles as a way to push up the career ladder, discover new talents and even set up their own businesses.
There are a few ways to set up a side hustle but there is a catch: a side hustle can only be done during your spare time. This means that you need to be savvier than most business owners when it comes to building your side hustle as you need to be able to do more with what little time you have. Unlike small businesses, you probably won’t have the same support but what you do have is the ability to take your time and grow naturally.
However, it is certainly possible to grow a side hustle and you may just find that this small passion project becomes your main 9-5. So, where should you start?
Your weekends are the best time to make a big difference to your business because this is when you have the most time. Setting up at fairs or conferences is one of the best ways to use this time to put your brand out there and all you need is a branded tent from a business marquee range to get started.
The weekend is also a great time to get your teeth into your marketing strategies as well as other business admin jobs. Setting aside an afternoon will give you the time you need to get sorted for the week ahead, whereas trying to cram everything into a weekday evening will just hold you back in your main job.
If it can wait until the weekend, leave it to the weekend.
Automation is one of the most important changes to industry happening right now. But you don’t need to be running a large business for automation to benefit you. Where a small business can benefit from automation may also be relevant to your side hustle and you might find a few other uses for automation too.
Passive income is one of the best ways to get maximum value for minimum input. A blog is an ideal way to generate passive income and adding printables for a small fee can quickly add up to a fair bit of cash. There are lots of ways to earn a passive income that may or may not appeal but at least looking at the list will give you an idea of what you could achieve.
Just as a small business is likely to outsource some of its functions, you should also look into some outsourcing options. For example, if you want to create a product, you would probably do better to outsource the manufacturing than try to make each piece yourself – unless, of course, the craft is the USP.
Outsourcing might sound extreme for a side hustle but if you want to grow, it will quickly become necessary. Indeed, some entrepreneurs have founded whole new businesses from their side hustles and even had to outsource management! The more you want to grow, the more ambitious you will have to be and this will require more people to get on board.
Of course, there’s no need to spend a small fortune on hiring help. Plenty of side hustles grow out of cottage industries and getting the family involved could be a good idea. Naturally, if you are getting teenagers involved, they might want to see an extra contribution to their pocket money but when you all pull your weight, a family side hustle can really work.
Building a side hustle is just as challenging as building a small business. In fact, given your limited resources and time, it is probably harder. At some point, you are probably going to have to ask a hard question: should I stop trying to grow this side hustle or should I make it my main business? This is tough because a side hustle is often a passion project and is, therefore, fun because it is not a main business.
Choosing the move on or continue moving up is a difficult choice to make but it’s one that will probably come quite naturally. Trust your gut and explore your options. You never know – someone might want to buy your side hustle off you!