When I scroll through my LinkedIn feed, there’s a lot of people “looking for opportunities”. Some say they’ve sent out hundreds or even thousands of resumes without much luck in securing an interview for their next job. My question is – what else are you doing in the meantime, in addition to looking for that next job? What’s one thing that you have always wanted to do, but never did just yet?
Now is not the time for thinking – positive or otherwise. Now is the time to take massive action. You may have been walking around with the idea to start something of your own. Maybe to replace an income you’ve lost during the pandemic, or to add something in addition. If you can, I recommend the latter option: adding something is always easier than removing and replacing something you don’t have or want to have anymore.
“What would it take to turn your work into love?” ~ Tony Robbins
When you set things up right from the start, you never know what it may grow into over time. Here’s my six tips for starting a business or “side hustle” (even though I’m not a big fan of that word – the “hustle” is overrated and often unnecessary when you set things up the right way from the start.
Your Business Idea
Start with your passion: if you could change the world, how would you change it? With that in your mind, start developing your business idea. This includes allowing time to just think and brainstorm. Meditate maybe. See what comes to the surface of your creative mind. Don’t write down just one idea, but see if you can come up with at least a few different options. And then dare to be brutally honest with yourself: for each item on your list, ask yourself whether the idea might become a viable business. If the venture takes off, will you enjoy doing the work it takes to keep growing to the next level? Are you willing to do the unpopular things and hard legwork that most people don’t want to do to grow and develop your idea into a company?
Develop an entrepreneurial mindset. Learn how to think like an entrepreneur. Most of us might have started our careers by working for somebody else, and that “employee” mindset can often creep into the operations of your business. Always be looking for opportunities and experiences to take your business one step further. Success never is a straight line, but a myriad of seemingly unlikely steps that will help you keep and build your momentum as a business owner.
The Money Question
Let’s be honest about the money question and keep your business financially healthy from day one. The goal of any business is to make money, plain and simple. You will likely not be profitable from day one and need to invest money upfront. Ensure you have some runway as you get going, but also be realistic about your results if things aren’t happening fast enough. I’ve always grown businesses by reinvesting profits into the company, which often means a more steady and conservative approach to growth, but a less risky one versus putting your entire life savings on the line.
Set your business processes up for success and growth, making future maintenance and scalability easier. Most business owners no longer have a job, but own a job: they treat working in (or for) their company as another 9-5 role. The goal of the business owner isn’t to work in the business all the time, but to work on the business to make it run better as a whole, even if it’s for a few hours a week to start off with. For example: most of my clients dream of going “viral” and hitting it big on social media, but if they did their systems and processes would not keep up with the demand. If you got a thousand orders through your website tomorrow could you handle it? Would about five times that amount? How would your website behave? Can your payment processor handle the traffic? Working on the business could mean to start getting some answers to those questions, and introducing small changes and enhancements to make the business run better without you being in it all the time.
Discover creative ways to market your experience and create additional income streams. We have all learned something, experienced something, that when shared can be of benefit to others. Marketing that experience can create additional income streams for your business. Maybe you’ve always wanted to write a book, or share some of your valuable lessons at a lunch-and-learn event (now that we can start meeting in person again). Be clear about your mission: what are you looking to achieve. Talk about what matters with your team, your potential clients as well as your clients. Find new ways of helping others achieve their goals.
Your Digital Brand
What is the story you tell about yourself online? How does your website tell your story and engage with your audience? What about your social media posts? Are they setup to “pitch, pitch, pitch” hoping to make a quick sale, or are you posting content that has educational value to your audience? Once you’re clear on your messaging and the goal for each channel, set up your online platform to market and attract organically using the latest technologies available, combining Search Engine Optimization and content marketing.
Get Into Action
Looking to start a business or “side hustle” to add something new to your life? In this course you’ll see the best videos and content from our most popular programs, put together in a single, powerful course. To get you started, you’ll find the very best content from our most popular entrepreneurial courses inside this program. You’ll learn about a variety of topics, each designed to help you start and grow your business or side hustle. You’ll learn how to set up your new venture for success and scaleable growth, so you can focus on doing what you’re best at (and love the most).
Sign up today to get access to a complimentary preview so you can see what this program is all about and decide if this is something you’d like to add to the mix.Start & Grow Your Biz