My Sidehustle is Now My Main

building a business sidehustlelove sidehustle passive income

#Sidehustlelove is dedicated to celebrating FML FNDRS aka female founders who want to kicka$$ in launching new ventures. It doesn’t matter if your venture is a new spin on a toothbrush company, sticker collection or shoe app that tracks your heel count per hour to give recommendations to your podiatrist. Your ventures can and SHOULD be as large and crazy as you can dream them up to be that has your passion. Our ambition as a brand is to influence the generation of risktakers ready to take those passions to the next level and show you how to fall in love with your #sidehustle. Once you appreciate your #sidehustle its easy to see how to leverage it into a more profitable success and accomplish your . And we’re the blog that will encourage you to get there!

 #sidehustles are not always what we choose and most of the time is a talent that chooses us. Let’s say you know that you are an amazing singer who can blow, so you pickup a few gigs singing at your local church or jazz club. Perhaps you can type like a judicial court pro and you decide to advertise your services on Craigslist to help type the script for a budding new author. And if you hit the talent tech jackpot, you’re a master coder that lends your talents to non profits and for profits to build websites and eye popping apps. All of theses fit the profile of a bonafide #sidehustle. They meet two main requirements; first, they are skills that you already have which doesn’t require you to learn a new one and second they give you value in monetary profit and/or new exposure to further your goals. But we don’t always love our sidehustle and so this is where #sidehustlelove comes in.

#sidehustlelove furthers our goals in two; either they keep you afloat while you develop your fulltime calling. Or your fulltime is paying you the bucks but your heart is in your #sidehustle. Here is how to make either work for you.

#Sidehustle Keeping Me Afloat
A  sidehustle that keeps you afloat is a passive skill that builds side cashflow. 

Make your cashflow your ‘startup’ fund. Meaning every time you get paid for that sidehustle you put a percentage away 70% in the ‘startup’ fund that will assist in paying your bills when your fulltime job hasn’t begun to result in the lifestyle that you are aiming for.  A separate bank account where you can keep an eye on your growth is highly encouraged.

Value your skill and if you hit year 2 of your sidehustle – this also means you are growing your “expertise”, so this also means time to reset and increase rates. Do your research, make a list of five comparative businesses that offer your same skill and adjust your rates. Now since this is a sidehustle, we know you are looking to give discounts so that you can get more business. And that is of course, reasonable, but don’t undercut too far so that you don’t gain on your growth. We are discounting not giving away services. If you feel uneasy about announcing your new rates to your regular customers, package the first month with a special 25% off the first month.

Align your sidehustle with the goals of your current fulltime role so that you are growing skills. One of our brilliant readers had a sidehustle of creating powerpoint presentations, a skill she picked up in college. But her fulltime marketing job, which she loved wasn’t paying on the bills. She knew if she could create marketing campaigns would move her role into the associate marketer. She began to add presentations for marketing to her list of sidehustles. Since she had gain the trust of her current client base with her presentation skills they were happy to take a risk on having her create a few marketing campaign proposals. This was her opportunity to get feedback and find low risk opportunity to develop her career outside of the office. In her next performance review, she was able to convince her boss to give her a shot with a marketing campaign for a trial run. After three months proving herself, she moved into that new position. YAAAASSS, Queen! This is money! Literally to 25% more, and although she was making more money, her sidehustle proved to be more valuable so she is still doing it.

We’ll share our thoughts on how to gain #sidehustlelove for when your fulltime is paying you the bucks but your heart is in your #sidehustle in our next blogpost…

We know that sometimes sidehustles are such a hard grind that takes you away from that #lit party, your ‘boo-time’ or catching up on those reality shows. However, we believe in pushing towards a larger goal so that you thrive towards what you didn’t think was possible. Sidehustles aren’t for everyone but don’t expect us to go light on you here…this brand knows how powerful FML FNDRS impact their lives and communities around them…we will continue to celebrate the brave, the bold the fabulous!

#sidehustlove Team

 

 

 


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