Side hustles are a great way to supplement your income and can also be an important part of building your professional network. Whether you’re looking for something that will take up just a couple of hours or something that will take over all your free time, there’s something out there for everyone.
A 2017 article in Forbes recounts how side hustles are a great way to reach your fullest potential. It also emphasizes how side hustles are, “tied to happiness because it’s a way to give yourself financial freedom and an outlet to tap into a different set of skills and interests.”
Keep reading to look at the 5 important steps on how you too can unlock that happiness, and start your own side hustle that is sustainable and rewarding:
1. Develop A Positive Mindset
This is key for anyone who wants to start their own business. No matter what kind of side hustle you’re looking into, having a positive mindset will help you stay motivated, calm during challenges, and focused on achieving your goals.
Surround yourself with people that exude positivity and good vibes and connect with other successful people who you can learn from and be inspired from. But most importantly, you have to believe that you can do it, and you have to believe that it’s worth doing. If you don’t believe in yourself, then no one else will either.
2. Invest Your Time
You can’t expect to be successful in starting a side hustle if you’re not putting in the effort. If you’d like to start a business, but don’t have the time or energy to dedicate to it, you’ll need to make some changes. You have to invest some time to
- Brainstorm ideas
- Determine your target audience and market
- Talking to them to gauge their reactions and get a feel of where you’re stepping in
But while it’s important to make this a priority, it’s also important not to overcommit yourself or burn out. If you’ve got a full-time job, you can do 3 hours a week as a start. You can increase your time commitment as you get more comfortable with the idea of working on your business and establishing yourself as an expert in this area.
3. Settle on a Business Idea
Don’t jump in with a product yet, because those will come later. First, brainstorm some business ideas. Think about what kinds of services or products would be useful or interesting to other people, and then ask yourself if there’s a way for you to provide those services or sell those products.
There are tons of resources out there for coming up with ideas, you could start by looking at other successful businesses and seeing if there’s anything similar out there. You can also try asking friends and family members; many people don’t realize how much value they’re missing out on until someone else points it out.
4. Brainstorm Unique Names
After you’ve settled on an idea and a product, think of names. Remember, your name will be one of the first things people see when they come across your business. This means it has to stand out from the crowd, but also be memorable.
You can also enlist the help of a business name generator, to find you the perfect name for your business.
5. Set Flexible Pricing
Now that you’ve begun to start selling, be flexible about your pricing. It’s important that you don’t undervalue your service, because if they can find it cheaper elsewhere, chances are they won’t come back. But if you’re pricing too high, then people might not buy from you at all.
One way to find a middle ground is by looking at what other people are charging and seeing what makes sense for your product or service. You can start low and then work your way up until you find the sweet spot between what people want and what they can afford.
About the Author
Grant Polachek is the head of branding for Squadhelp.com, 3X Inc 5000 startup and disruptive naming agency. Squadhelp has reviewed more than 1 million names and curated a collection of the best available names on the web today. We are also the world’s leading crowdsource naming platform, supporting clients such as Nestle, Dell, Nuskin, and AutoNation.
