Have you ever thought about starting a side hustle to create a new income stream for yourself? Many people have, but they ultimately don’t pursue it, because they don’t know where to start.
Here are the five main steps to creating a successful side hustle that also has the potential to turn into your primary source of income.
1. Write down your list of marketable skills and areas of knowledge where you know more than the average person. For me, these areas include golf, futures trading and real estate, among others.
2. Check demand – Go to Google and do a search for each of these skills and areas of knowledge to determine whether there is demand.
For example, type in “golf lessons in rockville maryland” and see if any paid advertisements show up. If there is demand for your skill or area of expertise, there will likely be an advertisement or two or three. If there is demand, then you have potential to build a business.
3. Set up your product or service, and try to narrow it down to a niche within your area of expertise that will differentiate you from the crowd.
For example, in my golf instruction, I focus on helping bad adult golfers become good golfers. Some instructors focus on women, or junior golfers.
4. Develop your brand – Build a website, obtain marketing materials, set up social media accounts, etc. Then start adding valuable content to your website, and participate on social media.
At the very least, you should have a personal Facebook page and a Twitter account. You should then set up a Facebook page for your new business.
If your content can be presented via video, set up a Youtube page as well.
5. Promote your brand – Network in your community, promote your business online. Once you have all the pieces in place, you’ll need to get busy promoting your new business.
While you may post valuable content on your website or on a Youtube channel, you need to promote that content so it may be found. Social media is very helpful in this regard, so you’ll need to get busy there.
You can also promote yourself via online advertising, PR releases, writing articles, and countless other ways.
Final Thoughts
The beauty of this process is that you can get a side gig up and running literally within a week or two, and it doesn’t need to cost you a fortune. Once you are up and running, it’s just a matter of getting visibile.
Keep in mind, this isn’t easy, and it requires a good bit of planning. However, if you do this right, you’ll be able to develop a source of income that may eventually replace the income from your regular job.
That would be cool, wouldn’t it?
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