It wasn’t too long ago that I had a full time job and I was hustling mornings, nights, and weekends to take my side hustle full-time.
Today I am working from home, making money online, doing things I enjoy. It all changed when I started focusing on these 3 facets.
3 things you must master to take your-side hustle full-time
#1 Business Strategies: As a business owner you’ll be a student forever. Building a business is a process not an event. And it will always be a process. There are always new things to learn and that’s exciting. But that’s what trips people up. They try to do it all at once. When in reality all you need to learn to get started are the fundamentals. Which there are 6 of, and I wrote about them in detail in my new book Online Business Success.
#2 is Workflow: Like business strategies, this gets more complex as your business grows, but all you need are the fundamentals as well. This isn’t covered in the book. However, I have several videos about planning and scheduling. But I’m excited to delve into this topic a lot more.
#3 Finances: how will know if you making a profit? How much do you need to be making in order to quit your 9-5 and take your side business full time? These are essential questions you must know the answer to.
This post would be miles long if I delved into business strategy, workflow, and finances today. Plus throwing too much information at you at once won’t serve you well. With that said this is……
Part 1: Things You Must Master To Turn Your Side Hustle Full-time
We’ll be focusing on business strategies: the 6 fundamentals.
Watch Here Or continue reading below:
#1 is Passion: What do you love?
Starting a business is hard work. I know you’ve heard that many times. You’re creating something from nothing. Creation takes time, energy, and creativity. It’s so rewarding to work for yourself on your own terms, but it’s hard work. Especially if you have a full-time job and you’re parent.
If your business idea isn’t something you absolutely love then you will fail before you start.
Passion is a topic with so many different opinions about how to find your passion or weather you even need it. In my new book Online Business Success I discuss these two main beliefs and how to go about it. You’ll also receive a free worksheet, 14 Questions To Find Your Passion. It’s one of the 3 bonuses you’ll receive with the book.
#2 Your strengths: What gifts will you share?
We all have unique talents and strengths. If you think you don’t your just not noticing them because you’re inside the frame. You can’t see the whole picture or you’re looking for a stage worthy talent. For example, this is my talent. Writing, making YouTube videos, and sharing business, productivity, and mindset tactics in a way where you can comprehend is my strength. But at first look it may not seem like it. Your strengths are important because everything else will depend on them- how you market your business, what products, and services you will offer.
#3 Your Ideal Customer Audience: Who do you want to serve?
You have to have customers for your business to run. The biggest mistake you can make is to create a product and then go find customers. What you should do is find customers first and then create products they actually need and can’t wait to buy. That’s the smart approach.
Your Ideal customer audience is often referred to as ICA, for short, or ideal customer avatar. It’s one type of person you want to serve. The more specific and niche you are the better and more clear your message will be. It’s not being exclusive, although some business and companies are, it’s about having a clear message about who you are and who your business and products are for.
Before I wrote Online Business Success I crafted an extensive ICA. People who aren’t a direct fit bought my book and that’s okay. Crafting an ICA helped me clarify my message as I was writing the book and in the marketing.
The second of 3 bonuses you receive if you purchase my book is the Your Perfect Customer Workbook, which we created together. It’s only 9 pages, but it’s full of questions to help you clarify who you want to serve, their buying motives, objections, their goals and frustrations to help you craft products they actually want to buy.
#4 Find a problem: What meaningful change do you want to make?
Now that you know who you want to serve it will be easy for you to find a problem to solve for them. In the book we go over 5 strategies to help you find problems your customer has that you can make easier, faster, or better for them.
The problem finding exercises will also help find topic ideas for your online content like your blog, YouTube, channel or social media.
#5 The solution: How will you add value?
Here is where you will choose your business model and start creating your offer. A business model is just a proven way to make money online.
There are 8 Main business models I go over in Online Business Success. This is the part I am most excited about in the book. I go over each business model, I give you examples, help you pick the right one for you, and you’ll have access to this page where I share the resources you need to get started with each one.
This is something that I would have loved to have when I got started with online business.
The 8 Online Business Models (a brief explanation)
- Affiliate Marketing: The referral business of the internet. This is like the cosmetic company Mary Kay. Representatives refer Mary Kay products and if people buy they get a commission.
- Influencer: Lilly Sing, Salice Rose, and pretty much any other popular instagrammer is an influencer. They have large audiences and get paid to simply post pictures of other products they recommend.
- Advertising: My YoutTube Channel and this blog are perfect examples. I add value with my content and Google Adsense places adveritsements in and around my content.
- Information marketing: My channel and blog are also examples of information marketing. I give you informational content and sale products that compliment that information.
- Digital products: Anything that can be download is a digital product. A pdf worksheet, a video, an ebook, or photographs.
- Services: coaching, writing, editing, virtual assistant- these are all services you can offer and get paid for online.
- Merchant model: This is any physical product that can be purchased online-Mugs, hats, tshirts, or paper back books.
- Subscription business model : This is like Ipsy the make up subscription service. Alex Beadon also has a subscription service with The Spark Lounge. Essentially she offers business advise for a monthly fee,
#6 Marketing: How will you share your message?
Once you know your passion, you’re playing off your strengths, you found a problem/need in the market place, you crafted the solution, it’s time to start marketing.
5 Main Elements to Authentic Modern Marketing
- Your offer: it needs to be good.
- Your competition: look to them for guidance, not to beat them, but to be different and offer variety to the market place.
- Communication: Choose a platform where you will connect with your ICA and add value every day.
- The message: it’s not what you sale it’s about why you sale it. The message behind your offering matters more that you think.
- The Customer experience (aka CX): How can you wow your customers? Stand out and create an unforgettable experience?
There you have it, the 6 fundamental elements you need to focus on in order to take your side business full-time. If you want to make money from home working online doing things you absolutely love, make sure to pick up my book Online Business Success. You can find it on Amazon. Now thru august 31st it’s only .99 cents.
Stay tuned for part 2 of How to Take Your Side Hustle Full-time. If you found this post valuable let me know in the comments below. Also I’m curious, what was your biggest take away from this post?