Millionaires don’t acquire their wealth and success by luck of the draw. They know hard work, perseverance, late nights and early mornings….thus they know secrets to success. These secrets are so valuable that if you implement them, you will succeed in your own business. Here are my top side hustle tips for 2020.
Making money with a side hustle tip #1
I recognized that social media should be the foundation of most marketing plans. With that said it is critical to have a marketing strategy and not just jump into marketing techniques. I have found some great marketing jobs here in the past few months.
Making money with a side hustle tip #2
New flash…people are not generalists. They focus on selling their products and services to specific niche markets. If you’re all over the place and have shiny object syndrome FULL STOP! The business market, in general, is going in the direction of niche markets because customers have more choices regarding places to buy their products.
Making money with a side hustle tip #3
Search for and grab untapped markets. Seek out people that have not been able to have access to your product in the past. In untapped markets, you don’t have to deal with competitors which helps keep the marketing costs down. In addition, you will be able to establish a rapport and trust with your customers. Remember VSCO girls in 2018? yeah it was veryyyy little know. Now look at it!
Making money with a side hustle tip #4
Backend strategy is crucial to success.
You want several profit centers that allow you to sell your products and services to more customers. The backend part of your company supports these profit centers. It diversifies your business so you are bringing in money through many different areas. You can’t rely on retiring early if you only have one profit center. I suggest 12 streams on income
Making money with a side hustle tip #5
The easiest thing is to automate as many services as possible. This will allow you to sell services 24 hours a day 7 days a week online. Automate your service centers to cut down on costs and help your customers at all hours of the day.
Making money with a side hustle tip #6
Make sure you set up your business so that you are replaceable. You can make yourself replaceable by branding. Branding encompasses you or the value that you provide. Branding yourself is lucrative, but it doesn’t allow you to take a break because you have to make every decision. Branding your value, on the other hand, sells your expertise and not your time.
Making money with a side hustle tip #7
DO NOT work alone; build a team to support your business venture. Create a team of marketing, business, a mentor and accountability individuals. Remember, two heads are better than one so you can discuss ideas and strategies you have for your business.
Lastly, remember one has to have self confidence and believe in their product. I have learned the correct information and modeled others that have proven success. I am not afraid to make a mistake and realize that my job doesn’t define who I am. Remember to persevere and never give up no matter what obstacles cross your path.