3 Ways to Build a Successful Side Hustle

If you want to become so financially independent that you can retire whenever you want, you’ll need to have multiple streams of income. 

To do this, you might want to consider getting and building a side hustle that pays as well. And if you already have a regular 9 to 5 job, it means that you won’t have as much time as you need to run a successful side hustle. 

This brings us to the important question: how can you run one or more successful side hustles whilst still holding down a regular job? These are the tips well answer in this article. 

Note: Some links in this post are affiliate links, which means I receive a commission if you make a purchase. Affiliate relationships include, but are not limited to Amazon Associates, Walmart.com, and Etsy.

Photo by Garrhet Sampson on Unsplash

Do Your Research

Because here’s an explosion of possible side hustles, many people just run with what they hear from people without necessarily investigating their claims. Not just that, they also have little or no understanding about the requirements necessary to make the business work. 

So, by the time they find out, they’d have spent a lot more time and money on a venture they wish they hadn’t started. Therefore, before you take on the new side hustle, consider the following:

• How much time it’ll take to make it work
• How much time you have available to work on the business every day/week
• The cost implications of running the business
• If you’ll need to hire people to run the business

Ask for Professional Help

When it comes to building a successful side hustle, it is important to ask for help from experienced people. This can be in the form of a business mentor, a successful person in that same business, a tax expert, or anyone who already knows what you need to do to succeed in that business. 

Make sure that the person actually has real knowledge in your problem area. For instance, even though a business lawyer and a medical malpractice attorney are both attorneys, the reality is they have different areas of specialization. 

So, even though the medical malpractice guy can still give you legal advice, it’ll only be general legal advice at best. The business lawyer, on the other hand, will likely give you better legal advice that’s suited to your specific situation. 

Therefore, always seek professional help from people who can actually help you. 

Set Up Systems

Listen, you’ve only got 24 hours a day and if you’re strong, probably 18 hours wake time. This means that you’ve only got so much time to do everything yourself. This is why you might want to devise a means of automating most of your processes and activities. 

This is where your systems will play a huge role. Come up with systems that will make it very easy for you to run your new side hustle with minimal effort. Systems basically handle all the heavy lifting, thus making sure that you can actually spend more time on the most important business activities. 

Plus, when the business gets to the point where you can hire people, it’ll make the onboarding and integration process so much easier. All you’ll have to do is hand them the system, they’ll follow the checklist, and get everything done, per your instructions. 

This is a contributed post.

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