How to Start a Side Hustle

Starting a side hustle is one of the best decisions you will ever make in your life. Period!

Having a side hustle will make you grow in every aspect of your life: personally, professionally, financially, and even spiritually.

That’s what happened to me, and I know in a very special way that it can happen to you, too.

So what is a side hustle?

As per Wikipedia, a side job is also informally called a side hustle or a side gig. It’s an additional job that a person takes besides their primary job in order to supplement their income.

Some examples of side hustles are:

● Sell Handmade Products
● Selling items on Amazon
● Doing dropshipping business
● Selling your services as a web designer
● Start a YouTube Channel
● Starting a blog
● Becoming an affiliate marketer

If you have thought about starting a side hustle, whether from a passion for doing entrepreneurship, a need for another stream of income, or frustration in your 9-5 job, know that you are in the right direction.

How to Get Started

Thinking to start a side hustle might be overwhelming at first. How much more if you’re already in the process of creating one?

The idea of starting a side hustle came to me when I was still in college. This is after I read the book Rich Dad, Poor Dad.

The book taught me a lot about how to think like an entrepreneur, start my own business and change my everyday questions, leading to a changed life.

One thing I can’t forget in this book is the statement, “Don’t say I can’t afford it, instead say how can I afford it?”

If we say we can’t afford some things, this stops our brains from thinking of a solution and doing some problem-solving.

Instead, if we change our question or statement to how can I afford things, this will propel us to come up with answers and solutions, even though some of them seem to be beyond our means.

An open-ended question allows us to be flexible with our methods and be open to a wide variety of possibilities and opportunities in life.

So if you are feeling or thinking of starting a side hustle and you find this overwhelming for you, know that it is okay. It’s all part of the process.

Since this might be the first time you’ve thought about it, your brain is still in the process of transformation, where it starts to shift from an employee mindset to an entrepreneur mindset.

And that’s a good thing!

I challenge you to try it. If not, pursue to start a side hustle.

It will give you a lot of benefits personally, professionally, and financially.

So how do you start a side hustle?

Here are some tips to help you get started:

Content

1. Choose a Niche
2. Educate Yourself in Your Chosen Niche
3. Find Some Mentors to Help You Get Started
4. Create a 3-Page Business Plan
5. Review on How to Fund Your Side Hustle
6. Consider How You Will Market Your Side Hustle
7. Keep Motivated, Especially When You are Down
8. Learn the Startups Failures to Avoid

1. Choose a Niche

A niche market represents the smallest segment of a larger market. For example, dropshipping, web design, or selling in Amazon are niche markets in the entrepreneurship market.

It’s crucial to dig deep into your personality, lifestyle, desire, and dream, do extensive research, make up your mind, and decide wisely which niche market you want to pursue at the beginning of your side hustle journey.

You can ask yourself, what do I love doing or am willing to learn to do?

Why is this so?

If you’re not careful, you might get into a niche market that you thought you loved, but in the end, you might end up abandoning it.

This has happened to me many times.

One of the first side hustles I started was in the food industry. I thought, okay, this is great; I love to eat, have the capital, etc. But after some time, I realized I did not want to do this already.

After much thought, I realized that I’m not too fond of it anymore.

What I suggest you can do first is to test the water.

It’s like going to a restaurant where they offer you various dishes. It takes some time for you to decide unless you have tried some food on their menu already.

What we usually do is an experiment; we do trial and error. Know that doing trial and error experiments can make or break your side hustle.

Sometimes this is tough. You might not get the niche right for the first time. This is when you need to be strong and survive the cost of choosing the wrong niche because of the money, time, and other resources you’ve already invested.

You will get it right, but you will commit mistakes along the way to make the business successful. But then again, know that this is okay because you were still testing the waters.

Remember, the most important thing now is momentum.

Just like a chick coming out from the eggshell, it did not know the world outside its original habitat. But when it starts to take the first step, the second step leads to the 3rd, then onwards, until it sees the world around it.

We must try new things, be brave and venture out of our comfort zone. These will expand our horizons and our way of thinking.

We need to take calculated risks, learn from our mistakes and fail forward fast. These are all part of our growth both as an entrepreneur and as a brand or business.

Here are seven things to consider in choosing a niche market:

a. Passion

Know first if this is your passion or something you would like to do? You will only last long at doing something if you’re passionate about it or if you like the things you’re doing.

So find that thing that you love or like to do in order to be successful.

b. Experience

Do you have experience in this space?

The process will become easier if you already have experience in a particular niche market that you would like to enter to.

For example, when I created this blog, I didn’t have to find and hire someone to create a website. I didn’t look for a copywriter or a writer, as well, because I know I can do it.

On the other hand, if you don’t have the experience or skillset, are you willing to learn everything you need to know about it (especially if the niche is new for you)?

c. Demand

Does it have a demand or market? Of course, you will not sell a product or service into a market without a demand, right?

But believe me, some newbie entrepreneurs experience this mistake. I had a fair share of this mistake when I was a newbie as well!

How much capital do you need for this venture? Do you have that capital, or do you know how you can have it? How long can you get it?

Do you have the contacts and network? If not, what other alternative can you pursue in the meantime?

These are the questions we may want to ask when contemplating starting a business.

d. Profit

Given the demand attached to the niche market that you chose, do you think that this will be sufficient enough for the financial plans and the goals that you are trying to achieve?

And is the business sustainable in the long run? Is the projected revenue acceptable for you, or do you need a higher one?

In line with this, you may also ask yourself, how much am I willing to risk to earn more? Because as you all know, “The greater the rewards are, the greater the work required and the greater the risks will be.”

So what I can suggest for you is to look for something sustainable. Look for something that can thrive the harsh competition and something that can give you more or equal to the business, financial and personal goals you are looking for.

e. Time

Know how many hours you can allot for an idea per day or for the week?

Time is a crucial factor to every business’s success. Like a garden where we need to plant the seeds and patiently tend to make them grow, any kind of business needs your time, attention, careful strategy, mindset, focus, resources, and care.

Before venturing out to any kind of business, make sure that you have enough time and resources to make your investments grow.

Also, assess if you would need to hire another individual to do some tasks for you, especially if you are in the upscaling stage of your business.

All side hustles are not created equal; for some, you need to spend a lot of time doing something hands-on, and some don’t.

f. Unique Value Proposition

Part of any business success is being aware of the competition in your niche market and finding an edge or a marketing strategy that will help you advance your brand to the next level.

Is there something you can offer in the market that other competitors don’t have or do?

You would only know this if you would spend some time checking your competitors’ products or services.

You can also review the feedback from their customers. By doing this, you can add that feature or benefit to your own product/service, then add a twist or value to what they are lacking. This strategy is effective in making your brand ahead of the competition.

Doing what feels authentic to us and our brand is also a very effective strategy to get ahead of the game and attract the right audiences.

g. Top Competitors

I can’t believe some newbie entrepreneurs dive into their side hustle without knowing their top competitors.

For example, a friend of mine would like to start a junkshop. He didn’t even know if there was a junk shop in that place!

There are many benefits in knowing your top competitors, such as (a) You would know how challenging and competitive is the market. (b) You can learn what your competitors are doing to make them successful. And lastly, (c) how they market their products or services, etc.

Answering these questions will save you a lot of heartache, time, and resources.

2. Educate Yourself in Your Chosen Niche

You might be familiar with or an expert already in the niche you have chosen; that’s why you chose it.

Well, that’s great if that’s the case! Now, you can collate all the resources you have to be available in an organized manner.

But for those who are not familiar or have little knowledge only about that niche market, you need to have the hunger to learn, grow and succeed!

You would need to source out ways to learn from the experts and any valuable resources you can have.

No one can help you to start a side hustle that you want but yourself.

Everyone is busy and has their schedule and agenda. So you must gather all your energy and focus on making your side hustle idea happen.

There are a lot of free resources to learn from to train yourself about your chosen niche. Consider the following:

● YouTube videos
● Blogs
● Magazines like Entrepreneur.com
● Ask experts from your chosen field
● Ask someone who’s already doing that product/services

And of course, I have provided some side hustle ideas here on my blog for your reference.

I have added some content also related to side hustle:

● Startups Failures to Avoid
● Side Hustle Ideas
● How to Create a Business Plan
● How To Fund Your Side Hustle
● Digital Marketing Skills You Need
● Skills to Succeed in Business

Please take note that all of these are products of my years of experience, and it’s free for you to read.

There are also so many free training that you can find on YouTube, blogs, etc., that you can take advantage of.

So there’s no reason why you can’t learn a specific side hustle!

Now, the most logical thing to do is to have due diligence to research the niche market you have chosen to increase your success rate.

Remember, to learn a specific skill set or know more about your niche market, you must:

● Get the best training
● Get the best tools
● Learn from the best mentors
● Be willing to try it on your own
● and learn from the experience

3. Find Some Mentors to Help You Get Started

Mentors have been to the places you want to go to.

They will teach you how to navigate the way and advise you on how to navigate the roadblocks ahead. They are there to tell you the lessons and strategies they’ve gained from years of trial and error.

It’s been said, “Success leaves clues.” It’s your business to know those clues!

If you would want to save time and money in the long run, hire the best mentors you can find.

This doesn’t necessarily entail that you would need to hire them to do 1-on-1 coaching or do group coaching.

But reading a lot about their success stories, their book, watching their Youtube videos, and listening to their podcasts are still good and effective ways in order to get their mindset.

There is a saying that if you want to go big, you would need to “Stand in the shoulder of giants.” Learn from people who have been there, and create something new.

By doing so, you’ll get inspired, especially if you’re down, knowing that they also experienced what you’re experiencing. And they have succeeded.

4. Create a 3-Page Business Plan

So you want to see the whole picture of your startup? Or would you like to have a guide to make sure your business is always on track?

The ONLY way to do it is to have a business plan.

This doesn’t have to be a detailed business plan. A 3-page business plan will do.

Here are the contents that you can put for your 3-Page Business Plan:

● Have a 2–3-page executive summary
● Identify the niche market you want to pursue
● Research other companies in that niche
● Identify the problem
● How you can solve the problem
● Project the financial aspect of starting the startup. Know the capital you need to spend for marketing, tools, domain, web hosting of your business, etc.

5. Review on How to Fund Your Side Hustle

It’s crucial to include this point in starting a side hustle. When you run out of cash, you can’t do anything:

● You can’t pay your rent (your home or office)
● You can’t pay for your internet
● You can’t pay for your electricity and water
● You can’t pay for your car
● You can’t pay your phone bills
● You can’t buy your necessities like food, clothing, etc.
● You can’t buy things that you need for your side hustle like apps, etc.

I think you already get it by now.

To tell you the truth, I had experienced both sides of the coin already.

There has been a time when my capital was not enough, and I had to close the shop and find a job.

I can also remember a time when I had a side hustle and did it without carefully planning on how to sustain my personal and business expenses.

Believe me; it’s still so much better to have enough capital and buffer when you are still starting a side hustle.

How Do You Fund Your Side Hustle? You may follow these steps:

a. By using your own money

Funding your side hustle using your own cash is well-known as bootstrapping in the business world. You can build a startup or side hustle from the ground up, using your resources like savings, etc.

With this, you have total control over your side hustle, and you can decide whatever you want to do without consulting a partner. You have 100% equity in your business.

b. By partnering with someone

Take the time to find someone who has the commitment, credentials, cash, and contacts to help you with your business. This person doesn’t have to have all those things. It depends on the person you need at that moment.

Sometimes you only need a partner with cash or connections, someone who sees the potential in your business and would want to help your business grow.

c. Asking for a personal loan or credit

There are a lot of banks and institutions out there that offer necessary assistance to entrepreneurs to help them get started or to upscale their business.

d. Getting a part-time job or freelance project

Having most things done online makes things way easier for most people.

Entrepreneurs, even with their busy schedules, may still squeeze in an extra job if they wish to fund their side hustle more.

There are a lot of online jobs that you can start with zero to minimal experience. Or you may even choose something from your niche.

e. Use your credit card

Using your credit card to start or upscale your own business is a clever way to spend your own money in advance.

As long as you have considered the payment terms and the profitability of your business, you may use this method if you are sure that the money you used will be returned to you as profit as soon as possible.

Or, if there are still other sources of income to help you make sure that the money that was credited will still be paid on time, then this is a good idea.

This is a very handy method and will allow you to do business transactions faster.

6. Consider How You Will Market Your Side Hustle

No matter how good your idea about your side hustle is or no matter how good your products solve some of today’s inconveniences are; know that without customers knowing it, you cannot earn and keep your side hustle afloat.

Marketing your side hustle is one of the heartbeats for today’s business success.

Everything is on social media right now.

For us to capitalize on the free platforms online, we must use good marketing strategies to position our brand in the best light possible for our target audience.

Branding plus other marketing strategies will help you earn more, be perceived as a major player in the market, and will make your brand reach your target consumers faster.

There are a lot of ways for you to market your brand and product.

Here are some examples:

A. Social media marketing

B. Email marketing

C. Search Engine Optimization

D. Copywriting

E. Paid Ads

F. And so much more

7. Keep Motivated, Especially When You are Down

Continue watching videos or reading blogs about successful people who did the same hustle as yours or of anyone successful, and observe how they get through obstacles.

Study their mindset, habits, and strategies to keep the business “bulletproof” and afloat despite any business or personal obstacles/adversities they may have to face along the way.

Also, watching motivational videos that focus on mindset transformation is a really good way to pump up your passion/interest going, no matter what.

8. Learn the Startups Failures to Avoid

Lastly, learn the failures startups made in the past to make sure that you will not commit the same mistakes in your startup!

How I wish I knew some of the startup failures in the niche market, I chose before even starting. Some of them are these:

● Not validating the idea and doing a thorough research
● Starting a business that I am not passionate about
● Starting without even having a mentor
● Didn’t have enough capital to sustain the business
● I didn’t know yet how to get additional money to keep the business going

Conclusion

Starting your own business may be intimidating at first. But with enough guidance from your mentors and with thorough research, planning, and preparation, nothing can stop you from going to the next level.

You may need to find somebody to help you along the way, and that is okay. Whether it be friends, family, business support groups, and mentors, know that there are a lot of people out there who are willing to extend help to support you.

One way you can do too is to continue following this blog to get more inspiration to keep you going.

As long as this is your dream and you would want to make this happen, or you want this bad enough, don’t give up. Keep on pushing through to make your business a reality.

So, there you go!

The question we have now is, what side hustle are you longing to start? And what keeps you from starting your own business?

Have you carefully planned about it to make sure it is sustainable?

Do you need more ideas to help you get started? Or to stay motivated?

Follow us to know more.