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Ideas to Income: Launching a Successful Side Hustle

Dennis Francis

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If you’ve been reading my stuff, you know that I love to explore business ideas and new marketing angles for small business growth. Today I’m taking a different route. Beware of side hustles. That’s right. Proceed at your own risk.

Starting a side hustle can be a great way to earn extra money, gain new skills, and pursue your passions. However, it’s not always easy to turn a side hustle into a profitable venture. The sad fact is that most side hustle projects fail before they get off the ground. Here are 10 tips to help you set up and grow a profitable side hustle:

Tip 1: Never jump into a side hustle with your eyes closed.

Before you take on any project, consider what your ultimate goal is for your work. Consider your work style: Are you a solopreneur, looking to build a lifestyle business, or taking a particular side hustle to the big leagues?

These are three different objectives and three different pathways to success. Pick a starting point. Solopreneur: You are looking for an easy-to-manage 20-hour-a-week project that can pay some bills or increase your disposable income.

Small business lifestyle leader: You’re interested in building a team that can make good money and maximize your downtime in a field that you have a lot of interest in.

High-performance company: You want to go all in. Your vision involves building, (this is where the rubber meets the road) a creative system involving many people and many hours, usually involving a 7-figure annual income.

Solopreneurs can often end up building a high-performance company. There are successful solopreneurs who have moved from the kitchen table to the board room; for example, Sophia Amoruso. Sophia is the founder of Nasty Gal, an online fashion retailer that she started as a side hustle on eBay. She took her business from a small online store to a multi-million dollar business and later authored a bestselling memoir, “Girlboss.

WARNING: One common mistake that people building side hustles make is not validating their idea before investing a lot of time and resources into it. It’s important to do market research and talk to potential customers to make sure there’s a need…

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Dennis Francis

Retired content marketing consultant. Author, artist, husband, father and owner of ContentMarketingMagic.co. Still helping small business owners daily.