The trend in small businesses and entrepreneurs is booming and I am here for it! However, it isn’t enough to throw up a website, Facebook, or Instagram page and call yourself an entrepreneur. Some businesses are made to be side hustles and some are ready to be a full-time job. It’s important to consider the differences between these two to determine the viability of having them as your sole source of income. Many of the biggest companies in the world started as side hustles. Their owners were filling orders after the kids were in bed, carving out time in their lunch break for marketing, and simply sacrificing their weekends to be successful. So, how can you determine if it’s time to take your side hustle to the next step? Ask yourself these three questions before turning in your pink slip.
How good are my skills?
It’s important, to be honest with yourself on this one. Have you perfected your craft or are you still having issues with quality? If you are selling products, you should make sure that they are already selling well and you can make them with ease. If you are providing services, nail down your pricing and process to make sure that your customer experience is stellar.
Do I know my market well?
This question can get a bit tricky because you’ll never know it all, but before you dive in headfirst you should have a good understanding of your market. Who is buying your products? Who uses your services? It’s also a good idea to research your competitors to be sure that your business is in good standing and not offering the same products/services. These are all key factors in determining if your business venture can give you the lifestyle you dream of.
Am I comfortable with selling?
You wouldn’t believe how many entrepreneurs struggle with actually selling their products/services. Some even think that the customers will just flock to them if their product is good enough and I’m here to tell you that couldn’t be further from the truth. If your business isn’t making consistent sales, it should remain a side hustle. If you are uncomfortable with selling to strangers, your business should remain a side hustle. As a full-time entrepreneur, you should be comfortable with telling absolutely anyone about your business venture. Simply talking about your company can bring you to new heights that you didn’t even think were possible.
Do you still need help determining if your idea is viable? Book a breakthrough session to help you determine what your next side hustle should be. You’ll walk away with clarity along with actionable steps to launch your next business idea. Book your session today! In the meantime, check out my other article on getting more likes, more engagement, and more money!
[…] you ready to create a new side hustle? First thing’s first, check out my article on when it’s time to take your side hustle seriously. Then, book a breakthrough session to help you determine what your next side hustle should be. […]