You have a side hustle and it’s going well, but you see the potential for more. How do you take it to the next level? We have some ideas to get you started.
Turn your side hustle into a career by thinking bigger, researching your market and making good use of your social network. Grow your business right by getting funding through crowdsourcing or a small business grant or loan. See more on how to take your business from side hustle to career in the five steps listed below.
Start Your Incredible New Life by Expanding Your Side Gig.
Think Bigger
Your approach to your business can determine its success, and that begins with how big you’re willing to think. How strongly do you believe in your product? Enough to take a leap or two? You’re the one setting the bar, so why not set it as high as you can? If other people are making a comfortable living doing what you’re doing, then you can too.
Research Your Market
Research how other entrepreneurs in your niche are performing. What types of practices have led to their success? Do they have more to offer, or does something about them or their work help them stand out? Consider approaches to advertising, pricing and other factors that might make you more visible.
Use Your Social Network
You probably aren’t going to get many sales posting to your friends on Facebook, but you might find a professional page and a well-placed ad helpful. And make sure you’re really networking — some of your peers are bound to have good advice, and a few of them might even be willing to share it with you. Find online groups dedicated to what you do and don’t be afraid to ask questions.
Try Crowdsourcing
Finances can be a difficult hurdle to clear when you’re starting or growing a business, so why not seek some help? Artists, crafters, musicians and more can get much-needed funds through crowdsourcing venues like Kickstarter. The site requires you to have some kind of end-product, and you may not get much funding without setting up a few tiers of rewards. See what’s worked for other people in your field and try to adapt similar strategies to fit your project.
Look at Grants and Loans
Crowdsourcing might not be your thing, and that’s okay. You still might be able to get some financial help in the form of a grant or small business loan. Grants.gov connects businesses with agencies that offer assistance through over 1000 federal programs. Collectively, they give over five hundred billion dollars each year to qualified businesses. Women and minorities might find additional help through the Minority Business Development Agency.
Why not see how far you can take your side hustle? Find success doing what you love, and be your own boss in the process. Isn’t it time you took the plunge?
