Ever since I started my first successful side hustle while working my first job, I’m convinced that everybody needs more than one stream of income. Life is just not the same when you have money flowing to you from several different sources.
I made a decision to exit the rat race, one that paid of hugely and now, I live the life I want. How I did that is what I want to share with you in this post.
If you find that you are relying on a single stream of income, you are taking a risky gamble, one that you have no business taking. As soon as possible, you need to start a side hustle for many good reasons.
If you are like most people, you already know that you need a side hustle, you are trying to start one but some things are just not clicking into place.
In this post, I share with you 5 important tips that helped me start my first successful side hustle. My goal is for you to find your own financial freedom just as I have.
Follow these tips to start your own successful side hustle
1. Realize that things are about to change
The moment you start a side hustle, a lot of things about your daily routine, and your life in general, will change. Every free time you can muster you will devote to building your side hustle. You must understand this.
You may not afford to spend as much night outs with your buddies, or binge-watch your favorite series, or even sleep as much as you used to.
When I started my first side hustle – my first blog – I remember telling anybody who would listen how I wished I could add extra 8 hours to the 24 we all have. I was choked for time.
A successful side hustle, at the early stages, will place a demand on your time and life. You need to understand and prepare for it.
If you are married, you can discuss this your spouse so that they understand if you don’t have as much family time as you used to. It’s for the greater good.
Time becomes more precious
Starting a side hustle is like working 2 full-time jobs, only difference is your main job takes a larger portion of your day time. This means you have only your odd hours to work on your side hustle.
It gets even more complicated because you need your side hustle as much as you need your day job, even more. Therefore, you will need to squeeze out more time from your already packed day to build something for yourself.
Also keep in mind that while you try to squeeze out time from your day job, you must not lose focus of your job or let your dedication drop, else you risk losing your job.
So what do you do?
You will need to create more time to focus on your side hustle without losing the momentum you have at your work place. It’s practical; you can do it.
2. Keep your side hustle separate from your main job
One challenge you will have when you start a side hustle is to serve these 2 demanding masters without letting any of them suffer a lack of attention.
The temptation would be to sneak as much time from your job as possible to build your side business.
It would also be tempting to use your employer’s resources as much as you can, not because you cannot afford your own, but because it’s a hard struggle to keep the 2 activities separate when you are spending most of your day at your job
Get your own resources
For example, you may use your office computer to do your job as well as build your online business because time is precious, right, and you need to use every available resources and time to build your side business.
I would strongly advise against it.
Your employer will have a valid case against you if he finds you use his resources to build your business. Plus, the more you do this the more difficult it becomes to keep your side hustle from affecting your day job and vice versa.
Get your own resources, buy your own computer, work on your business before and/or after work. Don’t let one get in the way of the other; you won’t last very long at either if you do.
Using your employer’s resources to build your own business when you are supposed to be working for him is not only risky, it’s wrong. Put yourself in his shoes and ask yourself if you would like your employers to do the same while working for you.
Running a side business is tough but if you accept to do it, it must not get in the way of your job or be at your employer’s expense. You have a commitment to the 2 masters and you must serve both equally.
3. Do a proper research
You will be strapped for time, therefore you will not have the luxury of trail and error. You can’t afford to lose any time on an untested business model. It’s important that you do a proper research on any business you wish to start.
You will need business ideas that require less time to build and can run with little supervision from you. You will also need businesses that are guaranteed to make you money within a short period.
I have listed more than 25 of such businesses in this article. I also suggest you conduct your own research before you settle for any of them.
Without a proper research, you could wander from one business to the other until you quit. Make sure you have what it takes to run any business you choose. If not, you are setting yourself up for failure.
4. Outsource and automate
You will not have the time to do everything yourself. Running a business, any business, is hard. The difference with a successful side hustle is that most of the activities are things you can either outsource or automate.
Therefore, as much as possible, outsource and automate. Work smart and get more things done.
There are many tools you can use to automate your business online and you can easily outsource most of the tasks to freelancers on Fiverr or Freelancer.com.
5. Keep your mouth shut
Finally, starting a business could be exciting; you may feel like shouting it from the rooftop – you finally started a business, yay!
But you need to keep it quiet especially at the beginning. You can only discuss your side business with people when they have something to contribute to the success of your business.
Other than that, keep your mouth shut.
Not everybody would like to hear you are starting a side hustle, especially your employer. Knowing that you are running your own business could make them think of you as trying to leave and they may preëmptively fire you.
Until you have established your business and it’s making money, resist the urge to let the world know that you are running a side hustle. If you must do that, make it abundantly clear that it does not affect your day job.
Also, if you have an understanding boss, you may discuss your side business with him so he knows you know what you are doing. A good boss will encourage and even support you.
Nobody should have to rely on a single stream of income. Starting a successful side hustle is very important if you must live a life of financial independence.
The tips in this article will help you build a successful side hustle. I will be sharing more tips throughout this blog; you can also contact me if you need any specific information or you need my help to get started.
A good place to start for us to work together would be to subscribe to my email list where I give you 5 hot businesses you can start on the side right away.
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