There are so many ways to transform your passion into a side business and this is a dream that many have, but often the fear of leaving a secure salary prevents people from making this choice.
In fact, To run a small business this way can’t to be a difficult thing since it is already something you love . It is possible to start your business while you continue to work and earn a salary. By doing this you will have the opportunity to test your idea to see if it can support you full time financially.
About 37% of Americans have a side job that generates an extra revenue stream (this can’t be said for the country am from) . Whether you’re planning on growing the company over time or just adding money to your wallet, start with small steps and grow when you’re ready.
- 0.0.1 Transform Your Passion by Choosing Something for Which You Have Time for:
- 0.0.2 Have a Slow Implementation Strategy to transform your passion
- 0.0.3 Choose a Consolidated Platform to transform your passion
- 0.0.4 Keep Your Finances in Order
- 0.0.5 Get the equipment you need to transform your passion
- 0.0.6 Do Your Homework
- 0.0.7 Find the Time to Invest in Your Side work to transform your passion
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Transform Your Passion by Choosing Something for Which You Have Time for:
You might fantasise about opening a restaurant, but it’s not something easy to do a few hours a week while you continue to work full-time as an employee. The companies that work best as a side activity are:
Affiliate Marketing – CLICK HERE TO GET STARTED
Hot Selling IT Skills (Dreamweaver, InDesign, Java, HTML/CSS) – CLICK HERE TO GET STARTED
Freelance Writing – CLICK HERE TO GET STARTED
Sale of Handicrafts – CLICK HERE TO GET STARTED
Before investing money in this new passion, look for what you need not only to start those business like this, but also knowledge to support it . If you can’t spend the time you need, you may have to wait for the time when you have more time and energy for it.
Have a Slow Implementation Strategy to transform your passion
The way you launch and manage your new business will be different from how you would have started a business you had planned full time. You could start by focusing on a single product or service, then expanding as you see success and understand true commitment over time.
You won’t have a lot of time to plan your initial launch if you work at least 40 hours a week, then divide your efforts to avoid burnout. Your plan might look like this:
Month 1: creates a website and a company logo
Month 2: set up social media channels
Month 3: open a corporate bank account
And so on
By splitting up all these activities, you will have all the time you need to make them work properly the first time. They could tell you that it will take much longer to create a website; if you are not in a hurry, this will not affect your ability to launch the business.
Choose a Consolidated Platform to transform your passion
As the saying goes, there is no need to “reinvent the wheel” it costs you more, takes more time and is more difficult to find customers. On the other hand, if there is an existing platform that you can use for your side business, use it, you can start earning early.
Uber, Amazon Flex, LawnGuru, Etsy and Rover are some examples. If you have any doubts about it, don’t hesitate to contact me .
Keep Your Finances in Order
Another advantage of having a slow start is that you won’t need an extra lump sum, and most of the extra jobs are pretty cheap to start with. However, it is necessary to create a small budget to understand the costs and how much you can potentially earn (in what time).
Creating a budget for your collateral work will require a little research, as you will have to find out what the things and that cost, from hosting the website domain to email marketing software, based on your needs. In addition to all digital expenses, you will have equipment available (more information in a minute), office equipment, etc.
You might want to distribute the initial expenses for several months, like you did with your launch strategy, so you could spend a little here and there rather than all at once.
You are probably motivated to start this secondary business because you want to earn extra money, but realize that it may take some time. It may take several months to find a steady stream of customers, especially if you start your business from scratch. Make sure you can cover all your expenses until it starts to be profitable, or your side work stops.
Get the equipment you need to transform your passion
Speaking of equipment, chances are you’ll need at least a couple of items. At a minimum, a telephone, a tablet or a computer to do business online. In addition to this, you may need special items or equipment specific to your type of business.
If you make jewelry, you may need a large desk with a lens and a lamp.
You can save on equipment by searching Craigslist for used items, but make sure they are new enough and in sufficient condition to rely on them. The last thing you want is for your lawn mower to die in the middle of a job.
Do Your Homework
The more you know your industry, the more successful you will be. Know who the competitors are, both locally and internationally by using tool like SEMRUSH to know what people are looking for. Find out who your audience is and where they prefer to connect with their brands.
In addition, it can be useful to read books and blogs on the management of a business in general. If you have no professional experience, paying sales taxes, managing your bank accounts and ordering supplies may be new to you.
Find the Time to Invest in Your Side work to transform your passion
Initially, of course, you will be so excited about your new job that you will spend every waking hour working on it. But over time, your enthusiasm could vanish, especially if you don’t see results. Remember: you have to put time and energy (especially in marketing your business) to attract customers and get them back. Nobody said it was easy!
Establish a time program for when you will focus on the side work. If you are a night owl or an early riser, these could be the best moments to dedicate yourself to the new activity.
If you have a passion that you want to turn into a business, starting it as a side job is the best way to test the waters while you know the market and earn extra income.