If you’ve always wanted to start your own business but feel bogged down by your 9 to 5, a side hustle might be just the starting point you need.
A side hustle is a perfect way to make money outside of your regular job. A chance to begin your career as an entrepreneur giving you the freedom to earn more, dream more, and live more.
The best part? You benefit from the security of a full-time job whilst being able to explore your hobbies and passions, learn new skills, experience new opportunities and most importantly, earn extra cash.
Did you know that in 2018, research from GoDaddy and the Centre for Economics and Business Research found that side businesses have risen by 32% in the UK alone and that 44% of these are run by busy parents, with 20% of side hustles being run by young people?
Impressive, right? If you want to learn how to start your very own side hustle, keep reading!
Top tips for creating and building a side hustle
- Start small – With limited funds and limited time outside your regular 9 to 5, starting a side hustle might feel like a daunting task. The key is to start small. Invest a small amount of money and a small amount of time to begin with and grow from there.
- Use the skills you already have and build upon your interests – What are your skills, your strong points, what do you enjoy? If you love crafting and creating new things, selling your creations might be a good way to start. Maybe you love to write, turn that passion into freelance and take advantage of the prospering gig economy. If you already have a background in marketing from your day job, apply your knowledge to your side hustle. The possibilities are endless.
- Draw upon the relationships you already have – Do you know someone who’s already in business? Someone with experience who can offer you support and guidance? Pick their brain and use their knowledge to help improve your understanding of how business works. If you’re selling a product or service, explore your contact list, even friends and family to try and convince them to buy what you’re selling.
- Make time and focus – After working all day at your 9 to 5, the last thing you might feel like doing when you get home is working, but it’ll be worth it. Set aside a small amount of time each day in a quiet space where you can concentrate on starting and building your side business. Remember, small amounts of dedicated time can go a long way.
- Settle in for the long haul – Good things take time and a side hustle is no different. Don’t start something expecting it to explode overnight. You’ll need to put in regular effort before you see any real money coming your way.
A lot of small businesses don’t succeed, but there’s one clear advantage that you have over full-time entrepreneurs and business owners; a full-time job and wages that can help absorb risks and take your side hustle onto bigger and better things.
Words by Mavis Amankwah. Mavis is a business expert with over 17 years’ experience, and is the founder of www.richvisions.co.uk