Do you have your side hustle already picked out but are too afraid to start?
Or have you already begun doing some active work in your side hustle but ran into some trouble that is making you second guess what you are doing?
Like anything new, you must first prepare yourself for success in order to reach success.
Although nowadays, launching anything new (including your own small business) can be simpler than ever, however, it does have its fair share of setbacks.
For example, a variety of digital markets and online platforms have simplified the selling of online goods for craftsmen and thrifters alike.
Moreover, blogging has enabled many people to start their careers in consultancy, writing, and speaking endeavors.
Not to mention, many websites and phone apps have made it possible for self-employment in almost any sector.
So to help you out, today we are going to uncover just some of the side hustle basics to get you ready to start your very own side hustle or business with ease.
These are what every entrepreneur usually encounters when it comes to starting a new business venture whether they’re employed or want to earn some extra cash on the side.
Moreover, if you are generally interested in using your own unique skills and abilities to make that extra money you wholeheartedly deserve, then let’s help you out by getting you better prepared before you begin!
Here are five helpful tips to save you from side hustle remorse, if you are interested in starting out something totally out of your comfort zone!
5 ways to prepare yourself before you start a side hustle
1. Follow your talents — they most usually are what you will excel at.
A study on side hustles by Bankrate.com found that about 37% of US workers have a side gig, making an average of $686 per month.
So if there is anything you’ve got the talent for that you could turn into a potential side hustle — now is the best time to start it.
When it comes to making money (on your own) and venturing out with your own unique idea, try to consider your own personal talents and see what you can create around that when you are first starting your very own side hustle.
If you have an ability/skill that exceeds the norm, then that most definitely is a great advantage point and can help you have an edge on your competition that can eventually be turned into a great success.
Choosing your own unique talents to work with when choosing a side hustle will prepare you a great deal for making extra money than if you were to choose something that makes money but you have no general knowledge about.
So do you like to write? Start freelancing on Fiverr. Do you like to paint? Hand paint cards and create an Etsy shop. Do you like to take photos? Well, did you know that you can sell your own photography online?!
The opportunities are endless!
Just have an open mind and always follow something that you have a genuine interest in or want to learn more about and you will be on the best path towards turning your side hustle into a great opportunity.
2. Be prepared to make some sacrifices.
Side hustles are a perfect way to raise extra income and test your business skills. They are also an excellent way to test new business ideas before you quit your regular job.
Often times when we start something new, it will take a lot of TIME investment for the first couple of years and a lot of hard work is usually needed (in the beginning) to get a side hustle off the ground.
So to really get it established within your day-to-day routine, that most often usually means that something else in your life has to give way for it.
You have to be prepared to make some sacrifices if the side hustle you choose demands your time to make something out of it.
This could mean less Netflix, less time hanging out with friends, fewer weekend getaways, or maybe even less sleep.
But sacrificing for your side hustle is totally worth it if you know exactly what you want to do and are okay with sacrificing something to make more room for it, to fit in your life.
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3. Prepare for both stress & excitement when starting something new.
Operating a side-hustle alongside a demanding full-time job can be super stressful in and of itself.
And anyone that is preparing for something new can have intense excitement from the start, but most people often find themselves seeing that excitement turn into new stress.
So if you find your stress levels getting out of wack as you edge your way into your new side hustle, then you may have chosen the wrong industry OR just may have too much on your plate.
Either way, know that starting something new almost always comes with new learning curves and new growing pains.
Eventually, as time goes on, it’ll smooth itself out, so don’t let it discourage you if you feel it’s getting out of hand or you feel exhausted.
Ride it out and see how it goes for you as you reassess if your side hustle idea is still one that you really want to pursue with passion.
The same process of getting used to something new will almost always feel stressful.
So if your side hustle is something that you really want to pursue, make sure to always push past the comfort and know that stress is a normal state of mind when you are starting something brand new.
4. Be your own deliberate cheerleader & Build your confidence (day-by-day).
Confidence really is the BEST tool that’ll prepare you for almost anything in life!
With that added dose of confidence, you will always be ahead of your competition, and as an added bonus, the people who are in need of your product or services will TRUST you because of the confidence you exude and portray to them about the business you are in.
For helpful tips for building self-confidence with your side hustle, try this:
- Try to be well-groomed. If you’re interacting with other people being well-groomed will give you an edge.
- Learn why self-discipline is important for confidence. Self-discipline will give you inner confidence because you are doing the work that makes you confident in your side hustle.
- Smile when you approach someone. Smiling is the best confidence booster for almost anyone who chooses to use it.
- Compliment others and always be polite.
- Practice, practice, practice! Practice your sales pitches in the mirror and most importantly practice staying positive and having a positive mental mindset.
5. Always stay legal & protect yourself, your ideas, and your new business.
If you choose to be a vendor that makes money outside of a brick-and-mortar establishment, you still need to stay legal so you don’t get into trouble.
Not only that but if you are considering starting the same business in which you are employed, you could run into trouble with breaching a non-competition clause.
There are so many legal concerns to think about before you get started, however, I am not a lawyer so please do your own due diligence in regards to learning about your own legalities when it comes to conducting any business matter that you want to pursue.
For helpful legal tips to protect yourself with your side hustle, try this:
- If you’re going to be selling foods or some other kinds of homemade goods, you still need to be registered with the proper tax permits and/or business forms from your local government.
- If your side hustle is intended to really make successful earnings, you must take things seriously from the beginning – behave like a company from day one and track your expenses. Doing this from the start will really alleviate your mind and will protect you so that your side hustle success can be all yours.
- If your side business is close to your main employer, you could be in danger of breaching a non-competition clause.
- Sharing the confidential details of your employer will also come with hefty fines.
- Need a business loan to get the company going? Perhaps you should consider establishing an LLC for your side business to shield yourself from personal responsibility.
Launching a side hustle is an exciting prospect. Don’t let legal problems ruin your brilliant idea. With good knowledge, trouble can be prevented.
There you have it! Starting a side hustle will take some sacrifices, a boost of confidence, and some preparation but it is so worth it when it all smooths out and starts to feel like your new normal.
If you go out there and work hard — there will be no stopping you!
Check out, 8 Legit Side Hustles to Make Extra Money Fast, next!
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