Are you thinking about starting a side business to eventually leave your 9-5 job, or maybe just to earn some extra money? No matter your reason, you’re in the right place!
On Making Sense of Cents, I often discuss side business ideas. My side business, which is this blog, completely transformed my life. It helped me pay off $40,000 in student loans, became my full-time job, and now lets me travel full-time with my husband.
Starting a side business can be life-changing. It can help you pay off debt, save more money, test out a business idea, and work towards financial freedom.
Here’s the ultimate guide to starting a side business. Enjoy!
### Make Time for Your Side Business
To run a successful side business, you need to find time in your day. Don’t let a perceived lack of time stop you. Most people have some free time they can use to make extra money—it’s all about how much you want it.
If you think you don’t have time, add up the hours you spend watching TV, on social media, or doing other non-essential activities. The average person spends about 35 hours a week watching TV and many more on social media. By cutting down on these activities, you can find plenty of time for a side business.
Even if you only have a few hours each week or day, every bit counts. Here are some ways to find time for your side business:
– Wake up earlier or stay up later. Even an extra hour can help you get things done.
– Use your lunch hour to work on your side business.
– Use vacation days strategically to focus on your side business.
– Cut down on TV and social media time.
– Use small breaks during your day productively.
– Set a schedule and stick to it.
Once you figure out your schedule, you can move on to the next step: deciding what your side business will be.
### Determine What Your Side Business Will Be
There are many side businesses you can start. To decide, think about:
– What skills do you have? Assess your skills to see what you’re good at and enjoy doing.
– What do people need? Understand the market and how you can meet those needs.
– Are there enough customers? Research to ensure there’s a market for your idea.
Consider what you enjoy doing, as a side business will take up a lot of your time. It’s important to enjoy what you’re working on.
For more ideas, check out these posts on Making Sense of Cents:
– 9 Work From Home and Travel Careers
– 75+ Ways To Make Extra Money
– How To Start a Blog Free Course
### Find Ways to Grow Your Side Business
Growing your side business is essential for success. Here are some ways to do it:
– Advertise locally with business cards and flyers.
– Attend networking events and conferences.
– Start a website to attract customers and showcase your expertise.
– Reach out directly to potential customers.
– Ask satisfied customers to spread the word.
– Continue learning through courses, books, and articles.
### Listen to Your Customers
Your customers can provide valuable insights. Listen to their feedback and consider their suggestions—they might have a game-changing idea for you.
### Maintain a Work-Life Balance
Running a side business while managing other responsibilities can be challenging. Here are some tips to maintain balance:
– Outsource tasks to focus on more critical areas.
– Avoid multitasking if it decreases your productivity.
– Leave work at work.
– Eliminate time-wasting activities.
– Create a smooth, flowing schedule.
### Final Tips for Starting a Side Business
Starting a side business is possible for many people, but it’s not always easy. Here are some tips for success:
– Choose a side business you’re passionate about or enjoy.
– Find a side business with a flexible schedule.
– Don’t let your side job interfere with your main job.
– Remember to pay taxes and seek legal or professional help if needed.
Are you interested in starting a side business? Why or why not? If you already have one, share how it’s going in the comments!