Five tips for turning your expertise into a side hustle
Not everyone feels completely satisfied with their day job. If you have a skill or an area of expertise that other people might be willing to pay you money to use, it might be time to consider giving a side hustle a chance.
Leaving your job to pursue a new adventure without much stability isn’t a realistic option for most people, but slowly developing a new venture while you save money and continue to work can be both a profitable and personally satisfying endeavor.
Whether you’re looking to transition to making your side hustle your career one day or just want to try something new on a part-time basis, there’s plenty to learn about how to put your best foot forward. Let’s go over five tips for turning your expertise into a side hustle.
1) Make a clear plan and set your goals
The first step to turning a hobby or a talent into a side hustle is to understand exactly what your goal is. Are you aiming to turn this into a full-time career or do you just want to make some money on the side?
Set clear expectations for what you want to achieve and put together a thorough plan for what steps you’ll need to take to get there.
Once you’ve decided on the number of hours you intend to commit and the appropriate pricing for your services, you’ll be ready to move forward with actually starting to create your new side hustle.
2) Advertise creatively both on and offline
Making people aware of your gig is the obvious next step once you’ve actually got a plan. No matter what your advertising budget is, the internet makes it easier than ever to use your creativity to advertise for your new project without breaking the bank.
Use social media liberally to spread the message and consider contacting influencers in your industry to help create buzz and expand your audience.
You can get custom content, logos, and addresses put on just about anything these days, so consider investing in some personalized products to provide not just to customers, but other businesses or investors that you’re approaching.
Business stickers can help you develop a cohesive brand for yourself and keep the visual look of your business consistent across platforms and on your physical mailings and stationary.
3) Use your time efficiently
One way to stay on track with efficiency is to use OKR software. You might be wondering, what is OKR? OKR stands for objectives and key results, and the goal of using OKR software is to help keep different people and parts of your job connected and operating as efficiently as possible.
Making the most of the time you and anyone who works with you spend on your business is an essential part of creating a stable foundation for productive operations both in the near and far term. With OKRs, you can identify the outcomes you want and optimize your ability to achieve them.
4) Scale up the right way
You don’t want to spend too much too fast trying to push your company to be larger than it needs to be, but at the same time, it’s important to take advantage of opportunities for expansion.
Growing your company slowly instead of relying on a large infusion of investor money is a more sustainable way to develop a profitable business.
Stay within your budget and don’t overspend on anything you don’t need right away. Be cautious when taking on unnecessary debt especially, you don’t want it hanging over your head in the future.
5) Avoid burnout
Working long hours and trying to balance a second gig with an additional job can be draining and stressful for anyone, no matter how prepared they are.
Try to schedule regular time for yourself to work on your new hustle when you’re most productive, instead of only cramming work in late at night. Avoid the temptation to be “on the clock” 24/7, 7 days a week, and make sure you always have at least one day off to recharge, if possible.
You’ll be more productive and make fewer mistakes if you’re well-rested and in a positive mental space when you sit down to work.
Not everyone has the drive or the time to pursue a side hustle, but if you have a valuable skill and a desire to give it a shot, why not monetize it? Be realistic but don’t underestimate yourself.
If you make a real effort, be creative, and avoid common financial pitfalls, there’s no reason you can’t turn your expertise into a successful side hustle for years to come.