Co-founder of Lit Dealer and Kreative Hedgehog, partner at Polda Builders. Digital marketer, entrepreneur and author.
Former Business Analyst at UBS Investment Bank, 33 year-old admirer of the state of extreme exhaustion.
Have you noticed that it became so massively popular for people to do something aside of their regular jobs? It seems like everyone is doing something on top. Don’t get me wrong, I think it’s great! However, I started to wonder why is it so? Why side hustle is popular? Of course, there is money factor, everybody can use some spare quid.
Another possible reason is that it’s easier than have ever been before to start a business or fulfill a dream. But I believe it’s only partially true. The main reason is fulfillment. And if you can make a living on that, girl or boy you already won! If you use it right your time after work can be really worth a fortune. Not only money wise, but also by freeing up the time you have to spend in regular job.
So when I was going through the endless wisdom of the Internet and I popped into this article on Harvard Business Review by Dorie Clark. I found it really good so I decided to make an infographic based on it. You can find a full version under this link here and below is the list of all 5 with some additional comments of mine.
How to Figure out Your Side Hustle
- Don’t fall in love with your first idea – be rational, you need to know when is the right moment keep going and when to quit
- Understand what you are uniquely qualified to share – what are you naturally good at?
- Don’t rush to quit your job – it’s never a good idea to lose your only income
- Invest in skill building – no matter what side hustle you choose you’re gonna need some
- Focus on one channel at a time – you have only 24 hours and one channel is plenty
Things to Consider When Starting a Side Hustle
Although, the article above is really good I believe it wouldn’t hurt to add few points to it. Like what else should you consider when already starting a side hustle? Well, first of all don’t expect quick buck. Unfortunately, it doesn’t work like that. Instead, you should expect and be prepared for a long haul.
And if it will take off quicker then you will be pleasantly surprised, much better than bitterly disappointed… Another important piece of advice I can give is to validate your idea with at least one paying customer as quickly as you possible. If someone is buying it then you’re good to go.
Aside of that there is a regular stuff like defining clear goals and setting deadlines, so you have something to motivate you. From business perspective you have to find a way to stand out from the competition. Something that makes you different. But I beg you, just not customer service.
You might indeed be exceptional with handling your customers inquiries, but how does it make you unique? Everybody says that. How about a product that doesn’t need customer service, wouldn’t it be something? I have made an entire post about how to become a better entrepreneur so please feel free to check it out below for much more tips on how to get it done.
How Many Business Ideas I Should Follow
In general? As many as you can. At a time? One. There is no exception to that. Unless you are currently unemployed, but even then I wouldn’t recommend to start more business endeavours than one and maybe some sort of blog to fill out the time in between.
The thing is there are only 24 hours during a day and it might sound like plenty, but it’s not. You have to sleep, eat, socialise and probably some other stuff, including shower. But why in general you should follow as many as you can? Because some will work out and some will not, simple as that. But you shouldn’t get discouraged and try another one.
It’s very unlikely to hit big with your first shot, so be prepared you might have to try some other concepts. It’s very easy to get distracted and ability to focus on one idea is crucial. Especially if you are creative and produce them with ease. In such case try to get ideas within the range of that specific project.
If this doesn’t help get a piece of paper and document all others, not related ideas. This will help you to get it out of your head and hopefully focus on the main concept. Plus having a lot of ideas will keep you going – if one project is up and running it’s time for the next one 😉It's very difficult to #focus on more than one #project, keep it simple and put your heart into one idea at a time #grind Click To Tweet
Infographic prepared based on the following article:
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