At this point, you most likely know what you’d like your side hustle to be. You’ve narrowed down your niche, looked into the feasibility of it, set expectations with your loved ones and defined what systems need to be created. Now it’s time to look at the money.
Making money is thrilling when you start a side hustle. Generating a dollar out of thin air, instead of going into a job is exciting, and not always so easy. Here are a few things you will want to keep in mind when it comes to making money in your side hustle.
Define What You’re Selling
The first thing you need to do is define what you’re selling. Because you’ve already narrowed down your niche, you know who you will be serving – so now it’s time to really dig in to what you’ll be selling them. If you’ve decided that you are going to sell website design packages, what exactly are in those packages? Detail out what you’re selling so you can put it into a proper proposal.
If you are having trouble defining this, just set a timer for 20 min and brainstorm all the things you could sell your target customer. You don’t have to offer it all, but if you can get it all out on paper you should be able to create a compelling package. Just remember not to overload yourself in the beginning – you want to make sure you can deliver.
Make It Recurring
If you can create a way to bring in recurring revenue, you’ve hit side hustle gold. Recurring revenue is great for a lot of reasons, but the main one is that you sell once