Have you been wondering how you are going to build your side hustle? One problem that most individuals have not realized as employees, is that employers give you a monthly salary which makes you think that its a compensation for a job well done. However, when you look at the real picture, it is a form of bribe that blinds you from exploring your potentials. You will just be making someone else richer at the expense of your goals. Even though, am not disputing the fact that a job can help you kick start your career and develop your goals, you still have to keep in mind how you are going to grow yourself and think outside of working for somebody else.
Some of us always need somewhere to start, that is where jobs come in. We need a source that helps us to pay our bills as we develop our businesses. Some of the steps that can help in developing a side business include;
1. Do not deviate from your career
If you are a systems engineer, ensure that your side hustle deals with computer systems, building labs among others. However if you are an HR manager or in any field of HR in your day job and you are trying to develop a side business then concentrate on things that deals with management because that is where you are most certainly good at. If you are a finance analyst then it means you are good with finances, so you can go on building a factory that centers in chemicals when you have no knowledge of it. Whatever your side hustle is, let it be in line with what you have majored in.
2. Begin small
Every business is nurtured and you learn a lot on the way. Even if you have the money, to be on the safe side, ensure that you start small and then go big. Businesses are full of risks and uncertainties, you can end up losing everything or making huge profits. You need to be ready for any of these uncertainties, the probability of going big is when you start small. The reason for this is, when you begin small, you get to acquire more knowledge in the business as you grow step by step. You get the experience needed, you become more cautious and learn from mistakes thus helping to equip you for more challenging issues in future. However, when you invest more in the beginning , there is a high probability that you may not learn enough to sustain your business, hence, it could fail.
3. Work with somebody
Business also requires to be allocated adequate time for it to grow much faster. Thus the essence of having a partner, who can work on it full time as you balance it with your day job. When another individual dedicates their time fully to the business, it will be much easier to take it to the next level, your partner can find new opportunities for the business, deal with upcoming challenges and manage the business well.
4. Apply any necessary knowledge learnt at work
As much as you are working for someone, there are a lot of things you can learn from your job. Take any useful information from your job and apply it to your business. If you are working for an entrepreneurship firm, learn how they manage the market trends, how they maintain their customers and maximize profits as they minimize losses. Apply these strategies and you will grow your business gradually.
5. Before you leave your job, ensure the side hustle can settle the bills
Going full time on your business is quite tempting, however you need to contemplate on when the time is right to resign from the day job. If your business pays you enough to pay your bills then resigning can be an option so that you can develop your business more.
6. Be a good time manager
Time management is an important aspect here. It helps you balance your time well without having to overwork yourself. Poor time management can cause you ruin one of the tasks, either the day job or the side hustle which you do not want to. Plan your time well so that you do not overstep on any of the above works.
7. Plan your schedule well
Aside from being time conscious, you also need to have a sound plan for the scheme to work perfectly. Get to know what you allocate for certain times and ensure that achieve so that you do not end up wasting that time. Stick to the schedule and you will see progress.
8. Be patient
Patience is essential when growing a side hustle. You do not just start something and suddenly it blooms. Everything is gradual and with hard work and consistency you will begin to see results in the end. Without patience, you could easily give up when you do not see the results you anticipated for at a particular time.