If you’re one of the many Americans who eschew the traditional side hustle in favor of going a more entrepreneurial route, you’re in the right place. Maybe you hope to build your business into a full-time income you can earn from home, or maybe you simply hope to supplement your current salary. Whatever the objective, making the most out of your side hustle simply makes sense — why waste time on projects not turning a profit?
Being an entrepreneur does take a degree of trial and error. However, a host of information exists online to help you on your journey. Here are ten tips for making more moolah and improve your side hustle from the side business you’ve started.
Top 10 Ways to Improve Your Side Hustle
1. Research Your Market
You can have the best product or service in the world, but if no one knows about it, you won’t earn a thin dime. To pitch to the right people, you need to research your target market, something the internet makes easier.
If you’re selling quirky, fun jewelry and pins with clever sayings, for example, your target market will likely consist of teens and young adults. Join social media groups catered to this demographic to find out what they love, and spend your valuable advertising dollars there. This is an easy way to improve your side hustle.
2. Craft an Elevator Pitch
You are super-excited about your business, right? You want to shout what you do from the rooftops, don’t you? While doing so may rankle the nerves of those trying to sleep, perfecting an elevator pitch helps you introduce folks to your product or service anywhere you meet.
3. Learn to Use Email Effectively
Ever get an email from an unknown sender where the subject line read, “Urgent, open immediately!” Did you? If you’re like me, that particular correspondence went right into the trash if you didn’t label it as spam first.
When writing marketing emails, use a personalized touch — people are more likely to open emails with their name addressed. Write in an active voice and keep the message upbeat and positive. Focus on the solution you offer.
4. Build a Social Media Presence
Everyone uses social media these days, making it the perfect place to advertise on the cheap. Attract more followers by posting relevant, engaging content. While you want to let your personality shine, try to refrain from spreading your personal dirt online — keep messages and posts positive and upbeat.
5. Establish Yourself as an Expert
Building a business reputation takes time. Consider creating content for various websites, writing reviews of similar products, etc. Eventually, when people see your name, they’ll associate it with your product or service.
6. Keep on Learning
Learning is a lifelong process. No, you need not spend every spare hour hitting the books, but take advantage of free webinars and industry journals to stay on top of your trade.
7. Connect With Other Hustlers
In addition to social media, take advantage of meetup groups to connect with fellow entrepreneurs. You’ll learn much from listening and sharing with others as well as keep your motivation going strong. Consider joining your local chamber of commerce as well.
8. Create a Residual Stream
Even when you love what you do, few relish the thought of working forever. If possible, work to develop a residual income stream by creating an on-demand webinar or e-book to keep money coming in even when you’re tanning at the beach.
9. Make Use of Diverse Talents
Maybe you adore medicinal herbs and have launched a website promoting hand-crafted soaps and essential oils. Build on those skills by setting up shop at a local craft fair or swap mart. Develop an online course on a platform such as Outschool to teach home-schooled students about the botany in their area.
10. Have Business Cards Ready
You met a great lead who you think will convert to a paying customer. How can you make sure they can contact you when they’re ready to buy? Simple. Business cards cost relatively little, and carrying them on you constantly means always having one handy when you meet a hot prospect.
Get Out There and Hustle!
Now that you know more about how to market your side hustle, it’s time to get out there and work it to improve your side hustle. The only limit to how successful your business will be lies within you.