Recent statistics suggest that over 90% of working Americans have or are interested in working a side hustle in 2022. The reasons for this are sometimes pragmatic – rising costs of food, gas, and other basic necessities are driving many Americans to seek additional income in order to cover the bills.

There’s also the recent phenomenon of The Great Resignation, which saw many workers quitting their jobs after the pandemic lockdowns in order to pursue new, more fulfilling work opportunities. Many of these “Resigners” are hoping to transform a side hustle into a new full-time career

If you’re an aspiring or new entrepreneur, here are 6 recommended tips from successful experts on what they wish they would have known before starting their side hustles:

1. Choose a Niche with Market Demand that Also Fits Your Values 

While you might be tempted to create a business that could serve any and everyone, research demonstrates that a highly targeted niche makes it easier to get your business off the ground and quickly generate profits.

When deciding on a niche, make sure to conduct market research to create an offer that has demand. In the early stages of your business, it is valuable to spend significant time speaking with your first customers to figure out, in their own words, exactly what drew them to your offer and how you can improve upon your competitors.

When choosing a niche, make sure to also take into consideration your own deepest values, passions, and interests. In 3 years, you don’t want to find yourself abundantly busy but stuck serving clients and orders that don’t appeal to you. You will find the most long-term satisfaction by choosing a profitable niche into which you are excited to grow. 

2. Make Sure You Have a Good Business Name

Many entrepreneurs rush to start a side hustle and quickly give it a name without much thought. Then, a few years later they find themselves stuck with an established business with a name that gets in the way.

For example, you don’t want a name that you’ll continually have to spell out every time you try to introduce it. That starts to waste considerable time over the years. 

Also, try to choose a name where from the start you can easily secure the website domain and social media handles. You don’t want to have to pay exorbitant costs or risk losing business because your business name is hard to find online. 

3. Create a SMART Action Plan

You’re probably familiar with SMART goals – it’s the acronym that stands for Specific, Measurable, Attainable, Relevant, and Time-Bound.

SMART is also a useful framework when making business plans for your side hustle. Especially because a side hustle is, by its very nature, a venture you’re trying to fit around your other priorities, you want to make sure you’re maximizing your time with an action plan that keeps you focused on straightforward, realistic next steps.

You might not be able to do much for your side hustle each day, but you want everything you do to move you closer to achieving your goals.

4. Focus on Customer Service from Day One

Customer service isn’t something that starts when you can finally hire a customer service specialist.

Word-of-mouth referrals and your online reputation matter from day one. In fact, it might be how you secure your earliest rounds of customers. When you’re just starting your side hustle and you don’t yet have many customers, make sure to give 110% to those you do have so that they will be ardent enthusiasts and ambassadors for your new brand.

5. Design Your Brand / Website

First impressions matter, especially when your business is brand-new and no one has heard of you before.

Branding is much more than a logo and a palette of pretty colors. Take the time to decide on the personality, the values, and the tone of voice that you want people to associate with your brand. Be deliberate about your brand identity and how you portray yourself online.

Consistency matters from the start. You will be remembered more easily and regarded as a competent professional more quickly with deliberate branding in place.

6. Invest In Expert Partners

When you’re just starting out, you might feel like you have to bootstrap everything and wear all the different hats of your business in order to save costs.

However, the simple fact is that we’re all more suited for certain tasks and better off outsourcing the rest to expert specialists. The quicker you bring in expert partners, not only will you enjoy your business more, but you’ll get better results in those outsourced area.

Often, you’ll find you end up making more money overall by investing in the right expert help for your business, rather than seeking “free” or “cost-effective” alternatives that just keep you struggling and not converting sales.

Curious if JXT Group might be an ideal expert partner to make sure your new business gets off to the best possible start? If you’re ready to kickstart your new side hustle into high gear, we know the best digital marketing and social media marketing strategies to help your venture succeed online.

Give us a call at 718-690-730 or submit our online form to get a conversation started!