Ask yourself this: are you feeling fulfilled, on purpose & completely passionate about your work? What do you really desire to do? I know for lots of people, their 9-5 job isn’t the answer. If you are reading this, you are probably like me, who desire to do the things I love and have a business that allows me to grow and expand, that presents me with new experiences and surrounding myself with inspiring people. I want to let you know that you aren’t alone for wanting to create a lifestyle and business that speak to your higher vision.
Having been through the process of building my side hustle and eventually left my corporate job, I would love to share with you and provide you with some directions on on how you can get started on the side hustle you've been thinking about so that one day you can build your side hustle into a full-time business supporting the lifestyle you desire.
Step 1 Why a side hustle?
I’d be lying if I said building the side hustle was easy. You will have your doubts, fears and insecurities pop up from time to time. But if your why is strong, the how won’t seem as daunting; the technology won’t seem as overwhelming; and the naysayers won’t get you down.
I have my three why statements:
1. The big why statement reminding me the value I can provide to other people through what I do and the big vision I have for my business
2. The desire statement reminding me what’s in there for myself and my family if I build my business
3. The pain statement reminding me what it means if I don’t make this work? What it means if I can’t leave from my 9-5? What it means if I don’t get to live a life I love?
First the pain pushes you, then the vision pulls you. - Dr. Michael Beckwith
Step 2 Find Your Sweet Spot Business Idea
Whether you realize it or not, you have your special “zone of genius”. It’s that gift, talent, skill or ability that sets you apart from everyone else. It’s the thing
that no one else can do quite like you. It’s probably the reason you why you’re thinking of starting a side hustle business.
Your sweet spot business idea is the perfect intersection of what you love, what you are good at and what the world needs. Once you find your sweet spot, you’ll have a much clearer vision of your path and it will become easier to move from doubt and fear into confidence and action.
Step 3 Set Intention and Plan
Launching a side hustle is a big project. So break it down into bite-sized projects with timeframes. Also treat your side hustle as a “business”, not a “hobby”. Map out a proper business plan. Don't forget to do some research into finances and taxes. As we are talking about launch your side hustle while you are still at 9-5, I want to specifically mention planning to make your day job work for you.
You may be super excited about your new business, but at the same feeling overwhelmed when thinking of starting your business while working in your day job and dealing with day-to-day life. As someone who has done it and come out the other side alive, I want to assure you that it is possible with the right support, guidance & plans.
Everyone’s situation is different. Generally speaking, I wouldn’t recommend you quit your job and work in your business full time straight away. I was working full time as a Chartered Accountant while building my side hustle for several years before I finally left my full time job.
Stay in your current job and work full time: It is usually easiest to stay in your current job. This way, you have a steady income to support yourself while building your side hustle and you don’t have to spend all the time and energy to find a new job and fitting into the new environment.
Quit your current job and find a bridge job: If your current job is too draining and long hours, finding a bridge job which can give you plenty of time to work on your business may be a better idea. It would be great if you can find a bridge job in the industry of your new business or a bridge job that will help you build the skills and experience in your business.
Seek flexible working arrangements: Either stay at your current job or find a bridge job, you can seek flexible working arrangements such as working part-time, working from home or transferring to a less senior role and taking on fewer responsibilities.
Step 4 Take Massive Action
When I start stepping into my new entrepreneur identity and building my dream business, I realized how vital it is to stay in action. Doubt and fear are a normal part of the process. But you can’t let these emotions paralyze you; you need to get into action anyway. I worked with mentors and coaches to follow the proven success strategies to keep myself moving forward no matter what -- and begin building a habit of massive daily action.
Some of the actions at your initial stages include:
Work on your mindset and personal development daily
Determine your business name and structure
Register for an Australian Business Number
Identify your top 3 core values of your business
Get crystal clear of your ideal client
Create your offers and pricing
Know your unique selling point (IPS) and create your elevator pitch
Create a Moodboard for your visual brand identity
Create a main logo, alternative log and submark
Choose your brand fonts and colors
Create your own website using your visual brand identity
Create or update your already existing social media profiles
Set up a professional email with branded signature
Define your brand message
Let people know you are in business
Work with mentors or coaches
Create your brand content to add value to your audience and connect with your community
Step 4 Reassess and Adjust
Reassess your side hustle at least every 90 days: How are you feeling? What progress have you made? What needs to be changed/adjusted/improved? I find this is the most insightful process of all.
Good luck, hustler. I sincere hope eventually you will build your side hustle into a full-time business and lifestyle you love. I am offering a limited number of free 90 day plans for your side hustle (value $375), if you would like to make a start in your business make a time with me here: Chat with Elva
Love and light,