Side Hustle | Mike McRitchie | Resume and LinkedIn Profile Writer

How Leveraging Your Ambition Can Turn Your Side Hustle into a Full-Time Gig

January 13, 2023 by Guest Post Leave a Comment

Side hustles have grown in popularity in recent years. During a time of uncertainty with the pandemic, they offered an additional source of income and financial security. The more time you invest in your side hustle, the more it may feel like a “real business,” inspiring dreams of leaving your 9-to-5 job and living the life of an entrepreneur. This idea can be scary, but it is entirely possible.A full-time business is achievable if you can learn to leverage your ambition, the driving force that will fuel you and propel you forward in your business efforts. But this growth will require renewed focus, hard work, and a commitment to your goals.

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Adopt a Business Mindset

The first step in transitioning from a side hustle into a full-time gig is to adopt a business mindset. This shift means viewing your side hustle work as a serious, full-time pursuit. Everything you do from this point forward needs to be intentional, helping you to grow or strengthen your business. You should be prepared to commit to the necessary work, even if that requires short-term sacrifices.

Take the time to create a solid business plan that addresses the organization and structure of your venture, what products or services you will be offering, the cost of running your business full-time, marketing efforts, and your projections for the near future.

As you progress, every decision you make should support and build upon this plan.

Build an Online Community of Customers and Supporters

Building your own business can sometimes feel lonely, but it doesn’t have to be. Early in your transition from a side hustle to a full-time business, take the time to network and connect with other like-minded individuals. This network should include fellow entrepreneurs who can support and encourage one another, potential collaborators, and your community of prospective customers.

Building brand recognition is an essential step in the early stages of any business. But first, you need to establish a recognizable brand identity that will help you to stand out from your competitors.

When prospects visit your website or social media accounts, they should recognize instantly that it relates to your business. Include your logo, brand colors, taglines, or signature fonts across your online presence and print media to create continuity.

Start building an email list right from day one. Email marketing is a great way to build a loyal following and do so independently from social media. Social platforms can change, evolve, or shut down. Whether your account is closed or the platform experiences technical issues, you can quickly lose all access to your social followers.

When building an email list, you own your list, providing you with a guaranteed line of communication. Ensure all email communication comes from a professional-looking email address that conveys that you are the one your readers are communicating with.

Leverage Business Tools

With the rise of “work from home” and online entrepreneurship, more business tools are available to us than ever before. Take time to assess your needs and identify tools that can help support and enhance your business efforts.

Organizational tools like list builders and project management platforms can help you to organize your tasks and stay focused on what you need to do. If you have a team working with you, these tools are a great solution to ensure everyone is on the same page. You can assign tasks to individuals, establish priority levels, and set project due dates.

Tools are also available to support your social media and email marketing efforts. You can leverage these options to reduce the time required to complete your work, freeing your time to work on other areas of your business. For example, try using tools to schedule your social media posts, research keyword opportunities for content marketing, create or access sales prospect lists, deliver email marketing communications, and analyze competitors online.

Showcase Your Passion and Voice

Don’t forget the one element of your business that makes you unique – YOU!

Your passion for your business and the industry as a whole is an essential element in your business growth. When communicating with others and building your online presence, don’t shy away from allowing your voice and personality to shine.

A business that is a carbon copy of every other company in the industry isn’t going to attract attention.

Your uniqueness will set you apart from your competitors and build trust with your audience.

4 Things You Should Know Before Monetizing Your Hobby

May 14, 2021 by Contributed Post Leave a Comment

Making some more money from a side hustle can be rewarding, particularly if you love doing it. Monetizing your hobby is a great way to earn some extra money because you are doing something that you already enjoy; this means you don’t have any problem with motivation.

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However, for your business idea to be successful, it needs to have a way to make enough money for you. Therefore, even if you are following that idea due to your passion, you will still need some form of capital to offset your expenses and keep the business afloat. The following are some things you must know before monetizing your hobby:

Market

Now that you have decided to turn your hobby into a business, it is clear that everyone loves what you do. However, are they going to pay for the product or service? Many people tend to turn their hobbies into businesses because others suggested it and were praising them. They then venture into the business only to realize that their idea isn’t up to professional standards.

It is therefore important to do research to determine if there is an existing market for your business. See whether people are willing to pay for the things you offer. Doing research ahead will also help you to identify your target audience and analyze competitors.

Testing out your Hobby

In addition to researching and finding your ideal customers, it is always a good idea to test out your business idea in your free time. Doing this will enable you to work through problems and determine if the business idea is something you really want to pursue.

There are numerous ways to test out your hobby, but the method you use will depend on the type of business you want to establish. For example, you can release a coming soon video, take preorders, run digital ads, or a crowdfunding campaign. Also, if your hobby is taking pictures, consider investing in a quality DRDrone, ensure that you have access to a computer, and try marketing the pictures you take to see if people can invest in your idea.

Plan

If you have determined if your hobby can make money when turned into a business, you will have to create a business plan. This plan will help you outline the goals you want to achieve. Writing down a business plan guarantees that you are covering everything.

The business plan will also include your market research, operation costs, and the milestones you want to achieve. Remember that you don’t have to put together a twenty-page business plan for your business to succeed. All you need is lean planning. This is a simpler and safer way of creating a business plan that allows you to adapt and grow your business.

This method of business planning will still give you the needed documents if you plan on pitching to investors or seek out loans. It also takes less time to get everything done.

Find a Mentor

Ensure that you find a mentor. This can be someone who has gone through the same process and is now a successful business person.

Conclusion

If you are like most people out there, you are thinking of changing your career and turn your hobby into a business. Of course, making money from your hobby will drastically improve your wealth over the years; however, to make the most out of your hobby, you better start treating it as a professional business.

Get Hustling And You Can Protect Your Financial Future

May 6, 2021 by Contributed Post Leave a Comment

Are you looking for ways to secure your financial future so that you can ensure that you have lots of money when it’s finally time for you to retire? If that’s the case, then you definitely need to think about setting up a side hustle. The right side hustle will provide you with the extra cushion of cash that you require.

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Use Your Assets

First, you might want to consider how to use the assets that you own. For instance, you might already own a property. If that’s the case, then you could consider renting part of it out, profiting off a spare room in your home. You can do this, unless there is a clause in your mortgage contract that forbids you from doing this. If you are renting a property then things are a little more tricky, but you can usually get permission from a landlord if you are lucky.

Explore New Investments

Next, you should think about exploring the latest investment possibilities that are available on the market. We recommend that you think about something like crypto trading. The cryptocurrency exchange market has been heating up in recent years and providing fantastic opportunities for the average investor. If you take the right steps here, then you could easily earn a fortune. The best part is that cryptocurrencies can be cheap and cheerful. As such, you won’t have to worry about them cutting massively into your savings. There is also the chance to win big and when we say big, we definitely mean it.

Set Up A Side Business

You could also think about setting up a full side business. One of the easiest ways to make money with this idea would be by buying and then selling on Amazon. You can start by selling things that you already own but don’t want and never use. This could be the exercise equipment in your garage or the tech that has been stored in your draws. It’s entirely your choice what you want to use here. Once you have run out of items that you already own, you’ll need to buy new products at the right price to turn a profit.

Go Big With Green

Finally, you might want to think about going green at home. Investing in solar energy used to be an option that was largely unaffordable for the typical homeowner. However, things have now changed and solar panels will fit into the typical budget. You just need to make sure that you are getting the right numbers and sizes that will match the needs of your home and your family. It’s worth noting that as well as helping you save, solar panels can also make you money. If not now, then soon you will be able to sell back any energy that you don’t use to the grid.

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We hope this helps you understand a few of the best hustles that are definitely going to be worth exploring for you. If you make the right choices here, then you can guarantee your finances are healthy for years.

5 Brilliant Ways to Turn Your Side Hustle into a Full-Time Job

March 27, 2021 by Contributed Post Leave a Comment

If you’re like most people who don’t love their 9-to-5 job, you may find yourself often doing something on the side. This could either be to supplement your income or doing something that you’re passionate about. Eventually, your side hustle will start to feel more like the real thing, and you may even start thinking about making your side hustle your full-time business. If this sounds like you, then you’re among the millions of people who dream about turning their side hustle into their main career. Below are a few tips on how to go about it.

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Be realistic

The reality is that not every side hustle is easy to turn into the main gig. For instance, if you like to make extra income by mowing lawns for your neighbors on the weekends, you will need to invest a lot more to make your side hustle a full-fledged business.

Do a market research

Some of the reasons why most small businesses struggle to survive are: they don’t market themselves well, they are unable to manage cash flow, or they’re unable to retain their employees. However, according to Fundera, more than 40% of small businesses enter saturated markets, or they’re unable to find a profitable niche. Without demand, you won’t get enough customers, and this means you won’t get revenue.

To prevent such a situation, you should first test the viability of the market. You can do this by identifying the customers or businesses you want to serve, talk to them, and identify their pain points. With this information, you can identify ways to make yourself valuable. Additionally, explore marketing and advertising opportunities. Ideally, you should think of ways that you can promote your services.

Invest in yourself

You have most likely heard that the best investment you will ever make is in yourself. This is true when you want to scale your side hustle because you will now be your own biggest asset. To become an entrepreneur, you should always be learning. And, before you can scale your business, you should invest in the necessary tools and sharpen your skills. You can fast-track your career by enrolling in an online class from ibuyireview.com.

Stop treating your side hustle like a hobby

If you want to turn your side hustle into your main gig, then you should start treating it like a real business because it is. You can do this by setting aside some time to work on it. The more dedicated you will be to your side hustle, the faster you will be able to make it your full-time business.

Develop a business plan

Are you debating whether or not you will need a business plan? While many business owners will tell you that a business plan is a waste of time, research has proven otherwise. A recent study has revealed that writing a business plan can help your business grow 30% much faster than businesses that don’t have one.

Bottom Line

Have you been on the fence about turning your side hustle into a main gig? The above five tips will help you to make an informed decision and also push you to start living your dream.

Join The Gig Economy With A Side Hustle To Supplement Your Income

January 25, 2020 by Guest Post Leave a Comment

In today’s economy, more people are looking for ways to supplement their income with extra work. Known as the “side hustle”, working as an independent freelancer gives people the freedom to take on the additional work they want, when they want.

Why freelance? Working in the gig economy allows a great deal of flexibility. People can choose when it’s a good time to work more and still make time for their personal life. Gig jobs also allow workers to market themselves and build up a portfolio of clients that, one day in the future, may give them the opportunity to make the move from traditional employment to full time gig work.

Are you looking for a side hustle in the gig economy? Here’s how to make it a reality:

What skills and services do you have to offer?

In order to find extra work, you’ll need to have a skill or service that people are willing to hire you do to. Whether its photography, website development, or walking dogs, find a marketable skill that’s in demand.

Establish a flexible work schedule

You’ll need a work schedule that fits in with your current full or part time job. Because when you become a gig worker, you’ll essentially be working two jobs. Even though your side hustle is on your own terms, you’ll still have to find time for your freelance projects.

Money matters

With your traditional job, taxes will be automatically deducted from your pay. As a gig worker, you’ll be responsible for paying your own taxes. Be smart and learn all the tax rules so you know what to expect.

Establish your rates

Don’t fall into the trap of accepting whatever offer people give you for your services. Otherwise your side hustle won’t be worth your while. The whole point is to supplement your income, so come up with rates that a) pay you what you’re worth, and b) ensure that you’re actually getting ahead financially.

Market your skills and services

As a gig worker, you’ll need to market your skills and reach clients. Use online platforms for gig jobs, build a website and post your portfolio, and market yourself on social media.

As more people look for ways to earn extra income, gig jobs are going to become more popular. Working independently for yourself is a great way to decide when you take on extra work and what type of work it is.

To learn more about how to become part of the gig economy with a side hustle, startup insurance company, Embroker put together this comprehensive guide on navigating the gig economy.