Although it may feel as if everybody currently has their own side gig, that shouldn’t mean that you can’t get the maximum from your own. So what if you brother has his own taxi service in the evenings or if your girlfriend has a mobile beauty service on the weekends? The point is that you started your own business whilst still keeping your day job and you deserve to start making it count. Perhaps it did start off as no more than a paying hobby that helped you pay for that car or next year’s holiday, eventually you realised that it should start stepping up and that’s exactly what this article is talking about. You see, there are many ways to achieve this objective but they all have one thing in common and that is your desire and planning. Some people treat their side gig as a stepping stone to larger goals, that is all well and good so long as the target is attainable. If you are serious about your own side hustle, read on and we’ll start putting it altogether in a way that allows you to continue enjoying it but also will help you to make the most of the time that you are already investing.
Revisit your business plan
You probably didn’t take your business plan that seriously back when you originally started your paying side gig. Now we’re not saying that this was a mistake because who knows how these things are going to turn out? But if you are reading this, why not either take another look or simply start again with that plan? You need a formal business structure to follow no matter what area of expertise you may have. Start looking at where your audience is and who the top dogs in the competition circle are. By carrying out this diligent research you will not only find out more about what type of niche you are trying to create, but will also give you a massive heads up as far as your expectations are concerned.
Look at a formal business structure
This may be looking a little ahead but if your side gig is starting to make a big noise in your chosen niche, it makes sense to prepare for the future. By following a formal business structure you will be treated in a legal way just like a normal company. That means that there will be protection as well as the ability to appear more professional to your customers. Okay, if you are literally only running the side gig as a hobby, there won’t be much point in this approach, but if that were really the case, you probably wouldn’t be even reading this.
So if you have already taken the time to find a successful business plan that helps your services or product stand out from the crowd, why haven’t you chosen a brand yet? It’s one of the best and most positive ways to grab the attention of those who are looking for what your side gig can offer and also makes an imprint on the memories of those who have already sampled your wares. Remember to refresh both your website and newsletters once the brand logo has been designed and waste no time in letting your customers know about these changes in your strategy. Sure they will stay with you but this just make then take you a little more serious in the future.
Scale your planning
If you are thinking about moving your side gig up to a full time job in the future, you must remember to start looking for new clients and scale up your output accordingly. It’s all well and good having big ideas but prepare for some hard work and a lot of preparation. Ask yourself if you are ready to take the next step and if you have the right equipment, mental and physical, to make that leap of faith? Your customer base needs to be established and have you already told them that you intend to step it all up a couple of notches? You will need to be able to find the audience who are willing to pay you more and frequently so that when you make that change, your income isn’t going to drop.
The big M word is never far away when we are talking about how your side gig can, eventually, replace your full time job. Once you have decided on a brand that is worthy of your time, you will need to start circulating it as widely as possible. Paid advertising is a good place to start but do some research because there are many options. Once you have made it and are flying around in your Gulfstream-g650 and living the high life, it will all be worthwhile. Content marketing and social media are also excellent platforms but take a close look at your budget first because this can cost a fair amount. Your long term goals and expectations must be aligned before you start to invest in marketing so do a lot of research before you make this huge commitment.
When moving from a full time job to your side gig, you must plan this impeccably because timing is everything. Look at your current income and calculate if you are ready to lose the money coming in from your full time job before you make that move. Perhaps it’s 6 months away or even further? Just remember not to be too hasty and make those estimations based on fact and not fantasy because this is the most important business decision you will probably ever make. Many have tried and failed before and that is usually because they have timed this wrong. So make sure not to follow in their footsteps and get your side gig ready because it needs to be a sound move and not a risky one
So if you are thinking seriously about taking your side gig up to the next level, we’d recommend that you read this article in full before making that decision. It’s all there for the taking, just ensure the timing is right!