How To Start A Side Business

How To departeure A Side Business With over 30 million Americans working as independent entrepreneurs, bedrngnis to mention all the opportunities provided by the endless stream of free social media and e-commerce platforms, tzu siches never been a better time or bigger audience to launch your own side hustle.Maybe youve always had a knack for repainting old thrift store furniture. Or maybe youre a gifted musician who could coach other young aspiring talent. Maybe you have a specific education, training, experience or skill that you could develop into a freelance geschftliches miteinander such as financial planning or graphic design. Whatever your thing may be, there are plenty of good reasons to get going.First, you can make extra income on the side. Extra money is always a good thing Second, you can set your own schedule. That way you can build your geschftsleben around your life versus the other way around. Also a good thingFinally, you get to utilize something youre good at and e njoy. Also a good and fulfilling thing And regardless of where you are professionally now, 2017 can be the year that you get started.But, of course, getting started is the hardest part. I coach women with side and startup geschftliches miteinanderes through my Business Boutique events all over the country, and I know how difficult and overwhelming it can seem. So, to make it easy for you, weve crafted a step-by-step guide to starting your side hustle. Here are the first five steps you can take to jumpstart your side business1. Find community. Just because youre doing it on your own doesnt mean you have to do it alone. Find other people who can help helfende hand your dream, provide resources or connections that may help you, or give you advice when you need it.2. Create the start of a plan. It doesnt have to be fancy or fourteen pages long. You can make your own, search for a free template online, or even use my Business Boutique Quick-Start Guide found at ChristyWright.com. It do esnt matter how you do it it just matters that you do it At the very least, get a targeted to-do list started.3. Be prepared to get scared. Fear is just a part of the journey, and if you know that going in, you can set yourself up to overcome it. Putting yourself out there can feel vulnerable and scary, but you cant succeed unless you do it I write on this topic frequently because I battle fear just like you do.4. Just take the first step. Business can be overwhelming with all that you have to do, especially when youre starting out. But dont focus on all that you have to do. Just focus on one thing that you have to do. When you take that one baby step, it fuels your focus and gives you the confidence and momentum to take that second baby step.5. Do it now. If you wait until youre ready, until you have more experience, or until all the details are perfect before you go for it, youll never do anything. Go for it nowwhen youre not ready, you dont have experience, its not perfect, and y oure scared out of your mind. Do it anyway. Do it scared. Ready is a myth.Notice not one of these first five steps wasnt go buy a bunch of equipment and materials or pay $10,000 for a professional website. Those things arent a bad investment later down the line when your business revenues justify it. But when youre starting out, the problem isnt the design of your website its your fear, doubt, hesitation and feelings of being overwhelmed.Now that youve got the basics down, lets move onto the next step. Its time to formulate a more in-depth business plan heres how1. For starters have an honest conversation with yourself.The worst mistake you can make is underestimating just how much of a lifestyle change starting your own business will be. Do you have the necessary qualities, like being extremely self-motivated, tenacious, and risk taking? How about time are you willing to let this business dominate your life? A lot of people assume that being your own babo means having all the sc hedule flexibility you could want, and maybe it will be that way eventually. But thats certainly not what to expect for the first few or even several years.Make sure your motivation is coming from the right place, too. Is starting a business something you specifically *want* to do, or is what youre really after simply the permission to quit a job you hate?2. Assess if theres truly a market for your idea.Is your potential market large and growing, or is the space crowded already? Who will your customers be? Shop your idea around to (trusted) family and friends. Do they see a real need for it? If the service or good you want to provide is already out there, figure out what would set yours apart.You could also fork out the cash for market analysis data from a research firm.3. Make a budget, then find investors.Its a tried-and-true fact of business that before you can make money, youre going to have to spend it as an anfangsbuchstabe investment. If at all possible, talk to those alread y established in your desired field about their expenses, including any hidden costs theyve encountered, and plan to include in your start-up cost budget an extra 20 percent for incidentals.If youre intending to seek financial support from an investor or bank, youll also need to write a formal business plan (though you should really plan to do that regardless of investment needs).4. Choose your business structure.Will you have a Sole Proprietorship, Partnership, Limited Liability Company (LLC), or Corporation? Your structure will impact several things, including your business name, liability, and taxes. As you test your business viability in the beginning, its often suggested to go with a Sole Proprietorship. You can always change the structure later on if you determine another would better suit your needs.5. Register your business name and secure your social media accounts and website domain while youre at it.Small businesses in the U.S. are still lagging behind when it comes to w eb presence a 2016 poll found that 46 percent dont yet have a website, surprisingly. But given that more than 80 percent of consumers do online research before making a purchase, this isnt an area you can afford to overlook.If you have your heart set on a certain name for your business, make sure it can be translated to an available web domain and social handles. Otherwise youre setting yourself up for a major headache down the road and limited marketability.6. Acquire the necessary permits and licences.Theres a lot of red tape out there. Rolls and rolls of it, in fact. This may be the least exciting part of laying the groundwork for your new business, but its one of the most important. The U.S. Small Business Administration has tons of resources out there for prospective business owners, including information on state and federal permits and licenses.7. Youll need insurance, too.Check out this handy list of types of insurance that every small business owner should have, and plan o n getting General Liability Insurance at the very least.8. Adding a separate bank account for your business is also wise.Mixing your personal and side/freelance business funds, even in the beginning when your business is young, will likely culminate in a lot of stress on your end, especially when it comes time to file taxes. You should be able to set up a free business account at your local credit union or bank pretty easily.9. Determine the location for your business but only if you absolutely need one.Some businesses like a restaurant, for example mandate having a brick-and-mortar location. If your business requires a storefront, youll have several factors to consider in choosing the most fitting one, including accessibility, proximity to competing businesses, ordinances, and targeted demographics.If your business doesnt technically necessitate a storefront or office space, though, then consider circling back to this step once youre working with some actual revenue. Plenty of p eople are launching successful, even billion-dollar businesses from their homes spare bedroom or garage. Dont take on unnecessary expenses you cant yet sustain for appearances sake. Plus, there may not even be a need to take on this overheard, period. Theres nothing wrong with running a successful home-based business, of course10. Finally make sure you have a stellar support system in place.Be it friends, family, or professional advisers (like a lawyer or accountant), you should be heading into your new venture fully acknowledging youll require a helping hand or, more likely, several along the way. If asking for help is something you struggle with, nows the time to recognize that behavior as counterproductive to your success and therefore part of your pre-entrepreneurial life. Youll need plenty of guidance during the inevitable trying moments ahead and people to toast to your successes with, too.Youre going to need to figure out how to make time for your new side venture alongsi de your full-time job, too. Heres how1. Make your work work for you. Make your work work for you by finding ways to progress your side hustle. Replace your Spotify workout playlist with a business podcast on entrepreneurship instead (favorites that wont cramp your running style are How I Built This and Startup). You never know--you might become so inspired you wont realize you ran that extra mile Combine activities youre already involved in with the business model of your side hustle. For instance, if youre already a contributing writer for a career site like Fairygodboss, repurpose the articles you write for them for your personal blog. Make your work work for you by incorporating things youre already doing into the model of the company. Who says you cant have your cake and eat it, too?2. Touch it only once. And not again. Do you often read your emails only to respond to them at a later time? Well, dont. This only creates a full inbox of I-guess-I-have-to-respond-to-those-now email s. With the touch-it-once motto, you decide to read the emails only when you have the appropriate amount of time to respond to them. No one wants to do something twice, right? This principle can also transcend into your side hustle. Example? When youre cleaning your living space, finish that podcast you started when you were perfecting your downward dog and use Google voice notes to jot things down. By the time youve finished dusting, youve already gathered the content for your next blog deutsche post dhl and your shelves are clean, too3. Start having work dates with a like-minded friend or significant other. And because youre not officially on the clock (as of yet), bring the wine. Put your gorgeous charcuterie spread on the coffee table, set up camp on the couch, and start talking business. Your Friday night at home doesnt feel so bad when youre feasting with a friend and to boot, youll get work some done.4. Use your fringe hours intentionally. Fringe hours are those little pock ets of time throughout the day that often go underused or are sometimes even wasted altogether. Instead of scrolling through Instagram during your spare time while waiting at the doctors office, finally read those pins you saved on email marketing. Instead of perusing Facebook on your lunch hour, read that biz book youve had checked out for two months. Make the margins of your day work for you.When you take advantage of these tips, youre already using your current work to your advantage. And in no time, your side hustle might just become your day job. Interested in taking on a side hustle, but dont have a specific business idea for one just yet? Check out these well-paying part-time jobs for inspiration1. Virtual assistantA virtual assistant (VA) is a freelancer who remotely provides support services to a business. The responsibilities range from routine tasks, like appointment reminders and email management, to bookkeeping and social media engagement. A great VA is highly detail-or iented, loves to learn new skills and is people-oriented. 2. Social media managerBeing a social media manager can be one of the best side hustles if youre autonomously managing a companys social media presence. As the voice of the organization, you can manage the strategy and the day-to-day support for their top social platforms. This could include content creation, advertising budget and daily engagement. Having your own thriving social media presence will help you get experience and show your prospective clients your know-how. Social media marketing changes faster than a newborn in a diaper...so be willing to stay on top of the trends.3. TutorAre you fluent in multiple languages? Did you kill it on your SATs or are you particularly knowledgeable about a certain topic? Consider being an online tutor You still get the satisfaction of seeing first-hand the difference you have made in a students life all from the comfort of your home. Tutors are typically part time and are paid hourly , but depending on your expertise and needs of your client(s), you may be able to secure full time and super lucrative work.4. Web developerWeb Developers are among the best-paid remote workers. With some technical training, developers can offer services such as custom website design, coding, hosting and usability testing. 5. Search engine evaluatorAre you looking for a little extra cash? As an independent contractor, a $12-$15 per hour job lets you work around your schedule and at your pace. You will provide feedback on search engine algorithms, which need to be evaluated by humans because they are often full of errors. 6. Brand managerIf you think creatively and excel in the business world, consider a brand manager position. Whether your background is in design, business, or advertising, as long as you have a vision and can write persuasively, youll be able to excel in this role -- from the comfort of your own home.7. ConsultantConsulting is a great option for stay-at-home paren ts because its likely something you can do regardless of your career path -- as long as youre particularly knowledgeable about something. If youre creative about problem solving and youre good at seeing the picture -- and if you like offering advice -- consulting may be the way to go. Many professionals who decide theyd like to work from home or enjoy more flexible hours tend to turn their talents to consulting.8. Part-time executiveIf you enjoy making business decisions but youre ready to quit the 9-to-5, you may want to look into working as a part-time executive. Employers are increasingly embracing more flexible schedules and holding team meetings over Skype -- so theres a good chance you can find part-time work that still allows you to be well-connected to and influential at a particular business.9. EcommerceE-commerce platforms are all about that e meaning, everything is done online (AKA you can work from anywhere). Do you have an entrepreneurial spirit and a good idea about a product or service you can sell? If youre open-minded and proactive, it could turn into an awesome (and flexible) career path10. Freelance writer/bloggerIf youve always been passionate about writing and youre now looking for flexible work, pursuing a career as a freelance writer or blogger is something you should consider. With an infinite number of publishing outlets, its easier than ever to develop your portfolio and kickstart the writing career youve always dreamed of. And its super easy to do it from wherever you please.11. Email marketerHow many promotional emails do you find in your inbox every morning? Probably a ton -- because a ton of companies use them. If youve worked in advertising, marketing, publishing or as a copywriter, chances are you can master the skills to work as an email marketer from home. The very nature of the work depends entirely on the www, so completing the job remotely makes perfect sense.12. Promotional video makerIf you have a background in film but youre ready to stick to freelance work, consider making promotional videos. If you find the right clients, this can be quite a lucrative career.13. Web/graphic designerIn the age of all things digital, theres no shortage of work for web and graphic designers. Tons of companies naturally gravitate toward remote workers to fill these roles, as they generally dont require much in-person communication. If you have a good eye and the right skills, put them to use14. Customer serviceIncreasingly, customer service positions (both the full-time job and part-time job varieties) are provided not through centralized, physical call center facility but through home-based employees who have access to a good phone line and high-speed internet connection. --This article was published in collaboration with the following contributorsChristy Wright is the creator of Business Boutique, a Certified Business Coach and a Ramsey Personality with a passion for equipping women with the knowledge and steps th ey need to successfully run and grow a business. Since joining Ramsey Solutions in 2009, she has spoken to thousands across the country at womens conferences, national business conferences, Fortune 500 companies and her own sellout live events. She is the host of the Business Boutique Podcast and her new book, Business Boutique, releases April 2017. You can follow Wright on Twitter and Instagram ChristyBWright and online at christywright.com or facebook.com/OfficialChristyWright.Allie Hofer, a self-proclaimed career matchmaker and work-life balance enthusiast, is a Professional in menschenfreundlich Resources (PHR), Society of Human Resource Management - Certified Professional (SHRM-CP), and Recruiter Academy Certified Recruiter (RACR). After having herfirst child, she opted out of the traditional office setting to work from home. Since then, she hasbeen consulting with organizations in the public and private sectors to support the Human Resources function in recruiting, compensatio n, training and development, and performance management.Elaine McGhee is a Working Mom Support Coach on a mission de-stress maternity leave and propel a nation of thriving working mothers. From her own emotionally traumatic return-to-work after her first daughter (HOT MESS), ThriveMomma.com was born. She coaches new moms on return-to-work readiness, time management, and mindful living, and she consults for corporations on paternity transition planning and work-life policies to retain and nurture working parents.Fairygodboss is committed to improving the workplace and lives of women.Join us by reviewing your employer