5 Tips To Launch Your Sidehustle
It’s become a buzzword you just can’t ignore. While it may be simply a natural result of the post-recession years of stagnant economies, for many the sidehustle has become a way of life. And whether out of necessity for additional income or for the pursuit of your passions, it’s something everyone should seriously consider the new normal for grown-up life.
In spite of all the negative stuff that is in the news every day, we live in a pretty awesome world. There are literally hundreds of opportunities around us. If you’ve been thinking about tuning out all that bad news, shutting off the television, and engaging life differently, here are five tips on getting a sidehustle started.
Choosing the Right Sidehustle For You
Even if initially your primary motivation is to create more income, there’s no reason to start doing something you don’t enjoy. Ask yourself, what excites you? What can you feel yourself drawn to and connected to before you even start?
You may want to call it your passion. Your calling. No matter how you frame it, there’s one or maybe a few things that have always just resonated with you. You may have even thought how great it would be to be able to do that and make money. That is what should be high on your list of possibilities.
Choosing the Right Method of Delivery
The internet has opened up huge new opportunities for virtually (no pun intended!) everyone. Avocations and sidehustles that used to be difficult to launch are now not only feasible but infinitely easier. In fact, 69% of new businesses start at home, and 72% of those are female owned. The vast majority of those are internet-based.
While you can go the brick and mortar route, it’s much more expensive and difficult to do on a part time basis. And even some types of businesses that you might not think were suited to the internet have adaptations. For a surprising look at how many possibilities there are, check out this list from Get Started Online
How Much of Your Resources Should Go Into a Sidehustle?
Remember, this is a SIDE hustle. At least for now. While you may have hopes that it will grow into an entrepreneurial empire, most experts say start small and learn. Author and serial entrepreneur Patrick McGinnis suggests starting with an allocation of 10% of your time and financial resources.
Think of “small” as a mini version of what it may someday be. For starters, build all the pieces, develop all the systems and contacts, and collaborate to make your venture run so smoothly that growth is a natural outcome.
Think Ahead To Anticipate Challenges
Before you jump in headfirst to your new venture, it’s always wise to have at least a simple business plan. These don’t have to be elaborate, professionally prepared, and expensive plans. There are plenty of free resources that give step by step help in creating a solid, workable plan.
As you sit down to pencil out the on-paper version of your business, ask yourself these questions:
- What skills might I not have that I’ll need to outsource and what will that cost?
- How can I utilize and contribute to a circle of supporters and collaborators?
- How might conflicts arise around my regular work and my family?
Think Outside the Box
In our world of norms, there are no norms. The possible ways to bring your sidehustle to life are only limited by your imagination. Sure, it might be wonderful to say you started out in your garage like so many legendary entrepreneurs. But this is your path, and it has to work for you in your world.
Suppose you just don’t feel ready yet to go it all on your own. Imagineering, a term coined by Walt Disney, might lead you to connect with a successful related business and ask to work on your niche under their umbrella. This is just one example. Imagineer yourself into a sidehustle that is perfectly fitted to your needs and life.
The Sidehustle Starts Now
Remember that there is a future waiting for you. Yes, it’s that one that’s out there five or ten years from now. And, realize that that future doesn’t care what your life looks like when you get there. It’s up to you to create it. There’s no better time than now to take action.