While we all have passions, dreams, and aspirations; some of us are bit with the entrepreneurial bug that we can’t seem to
shake off. We want to be able to create something that can be shared with the world and in turn ultimately work for ourselves. If you find yourself battling the idea of starting a small business on the side then know you are not alone! I too was at that point last year and decided to take the leap with my husband to act on it. Creating a business based on something you’re passionate makes it worth it even more.
1. Reflect on Your Passion
It’s important to write down or reflect on exactly what you’re passionate about. If you have a strong passion for health and wellness, consider creating products that focus on these topics. Love fashion and helping others? Maybe create a platform that gears towards providing resources to those in need within that realm. Narrowing down and focusing in on your passion will help kick start your business because of the drive and motivation it provides. Not to mention, if times get tough you know you’ve started this all for a reason.
2. Do Your Research And Ask Questions
Do you know enough about the industry you plan on entering? If not, then do your research and ask questions! It is important to have this knowledge because it helps when creating your company/products as well as building your customer/client base. Speaking with those who have created a similar business will provide industry insight and help prepare for what is to come. Don’t know anyone in particular? I would recommend that you research videos or articles because they are definitely out there. When creating OURS by Blackjoy, my husband Brandon watched a ton of videos to learn more about the logistics and success of subscription boxes. I began to network with other small business owners so I could familiarize myself with the processes when creating a business.
3. Get Started!
There is no better way to create a business then to get started! After honing in on your passion and gaining your knowledge it is best to dive right in and begin the process of actually creating the business. When we first created our company we had a mission and wouldn’t sleep until it was all put together. The drive that you have should fuel you to register your business with the state you’re residing in, start purchasing any materials needed, and build your website/social media pages (learn why Social Media is important for your brand by clicking here). Brandon and I are both currently still employed as our business is still young so technically our company is our side hustle (won’t be for that long!).
4. Develop a Time Management Schedule
Now that you’ll be starting a side business it is important to create a system so your time can be allocated properly. You’ll be taking on a new job along with all of the other responsibilities on your plate so it is best to create a detailed time table and split the time wisely. I recommend that you try to allocate at least 3 hours towards your business every day especially when you’re in the growing phase.
5. Keep Costs to a Minimum
Since you’ll just be starting off it is best to keep your start up costs to a minimum. This may mean that you may have to take on many tasks by yourself but trust the process. As your company continues to grow you can begin to invest in outside assistance but try to keep it in house in the beginning. Instead of investing in that large beautiful office space, use those funds towards products or branding.
Hope these tips help any of you who want to take a leap and start your side hustle. As I stated, just remember to trust the process and tackle your passion like a boss!