3 Steps to a Profitable Side-Hustle

by | Jul 6, 2020 | Getting Started

The best way to create a business is before you need to, while you’re comfortably living off a good, regular salary. If you’re in that enviable position. You can save. You can plan. You can make sure all your little ducks are waddling in a row.

If you don’t have that luxury, start anyway.

Ready or not.

You may already be finding it hard to make ends meet in this tough economy and you’re not alone, for sure. Even if you have a  day job, it may not be enough to keep your balance sheet in the black! And if you don’t, it’s a real worry.

Don’t wait to find a new job that will cover your costs. Start a side hustle for yourself while you look around. It’s the best way to get your bankbook looking rosy again.

And you may very well find your side hustle becomes your full time profitable business.

Use the Skills You Have

You know what you’re good at, don’t you? Use your natural abilities to start a business with as little financial capital as possible

Your first step is to write a list of all the things you’re good at.

Can you write, dance, paint, organize, cook, drive, teach, craft, look after kids, play the guitar, clean out a garage, garden, cut hair, offer wardrobe advice, or sing?

Write it ALL down!

Often we don’t value our skills especially those that seem easy. Why would anyone pay for that, you think?

But often those gifts are the very thing that others WILL pay for.

Work Out What People Need

What kinds of services are people looking for?

  • Ask family and friends the kind of services they would like to pay for if they could afford it.
  • Think about what you would like taken care of?
  • Do some research online and find the kind of side hustles people are already doing.  This is where I’ve found tons of business ideas in the past. Just don’t get sucked in by the easy ways to make cash online crowd. (I was. That’s a story for another day.)
  • Watch trends in the news or on social media to learn about new services and needs

Look for the tasks you could do, keeping your current skills in mind, but also things you would like to learn or improve.

Advertise Your Services

Once you know what you can do for others, let people know about it.

  • Advertise via social media, letting people know what you offer without being too salesy. Share your fear and excitement about what you’re doing. Ask for advice and feedback about your idea.
  • Market yourself around your community on notice boards etc

Starting small means you can test how things will work without laying out the kind of investment you don’t have to start a bigger business. This is a great way to see the kind of opportunities that are out there and to test the market.

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