As of March 2020, businesses all around the world started handing out retrenchment letters like they’re candy on Halloween. If you’re not building a side hustle to protect yourself, don’t worry. In this post, I’ll walk you through how you can build a profitable side hustle.
Step 1: Realize the world isn’t ending
Turn off your TV, close your eyes, and take a deep breath. The world isn’t ending. Everything will get better, it’s just a matter of time.
You can’t grow and manage your side hustle if you’re watching the news and checking coronavirus stats every hour.
Focus on taking care of yourself and ignore all distractions thrown your way by the mainstream media.
Step 2: Read “Deep Work” by Cal Newport
If you don’t like reading, watch this book summary made by “Better Than Yesterday”. It teaches all the principles needed to enter deep work for long periods of time.
Understanding Deep Works’ principles are essential if you’re an entrepreneur. It teaches everything you need to know about focus and perseverance.
Cal Newport, the author of Deep Work says…
Deep work is a professional activity performed in a state of distraction-free concentration that pushes your cognitive capabilities to their limit.
Deep work is becoming rarer and more valuable every single day.
If you’re an entrepreneur who practices deep work for a couple of hours a day, you’ll have a massive advantage over your competition. This is because most people are constantly distracted by their phones, social media, emails, TV, and video games.
There’re two qualities needed to thrive in today’s economy…
- Being able to master things quickly
- And creating value at an elite level
Both require no distractions and intense focus. This book teaches you how.
Step 3: Create a routine you can stick to
The biggest mistake people make is trying to copy a successful person’s routine. That’s like me trying to bench 500 pounds because I saw Thor Bjornsson doing it. It’s not going to end well.
Just because Elon’s working 15 hours a day, doesn’t mean you must.
Before you go to bed, think about everything you need to get done for tomorrow and make a list of it. Then structure your list by doing your most important and creative tasks in the morning, for example, deep work. After you’ve completed deep work, complete tasks that don’t require lots of focus, like replying to emails and cleaning the house.
Step 4: Pick a side hustle
Picking a side hustle is the quickest and easiest step on this list. People spend too much time on this step, trying to find the perfect side hustle that’ll make them quick and easy money. Sorry to burst your bubble, but the perfect side hustle doesn’t exist.
There’re plenty of side hustles to choose from…
- Digital Marketing
- Selling on eBay
- Virtual Assistant
- Freelance writing
- Affiliate Marketing
- Data entry
And they all work! All side hustles work, people don’t.
We’ve all seen those YouTube videos titled, “Is [insert side hustle] dead in 2020?” There’re hundreds of them.
Someone who knows how to eliminate all distractions from their lives can make money in the most saturated niches.
Pick any side hustle because they all work.
If you can’t make up your mind, write all your potential side hustles on pieces of paper and stick it to a wall. Close your eyes and through a dart. Chose the side hustle that you hit. Boom! On to the next step.
Step 5: Spend 20 hours learning your craft
According to Josh Kaufman the author of “The First 20 Hours”, it only takes 20 hours of learning to become competent in a new skill.
Learning a new skill is easier than most think. First, you must break down your skill into sub-categories and learn the most important ones first. For example, if you’re learning drop shipping, learn how to set up a website, how to design a website, where to source your products, how to write ads, etc. Remove all distractions and learn. Do that for 20 hours and you’ll be competent at your new side hustle.
20 hours is only 40 minutes per day for a month, so what are you waiting for?
Step 6: Build a website that makes money
When you’re starting out, setting up a website can seem intimidating, but it’s easy and straightforward. Buy a domain, get hosting, and link them together. That’s it!
There’re hundreds of tutorials on how to set up your website. Here’re a few that helped me…
- How to Make a WordPress Website – 2020
- How to set up a Namecheap Domain on Siteground Hosting
- Easy Steps to Point Your Domain to your Siteground Hosting
Once you’ve set up your website and designed your website, you’ll need to write copy that’ll persuade your customers to buy from you. That’s a topic I’ll cover in a future post. But here’re some tips…
- Keep the attention on your customer and what you can do for them
- Talk about how they can benefit by buying from you
- Use bullets and subheadings
- Talk directly to your reader
If you’re looking to write a website that persuades customers to buy, shoot me a message here and I’ll be happy to help.
Step 7: Run ads to get some early side hustle sales
Running targeted ads is an easy way of getting customers quickly. When starting out, don’t spend lots of money on ads, just spend enough to find out what works and what doesn’t.
Stick to one or two traffic methods. This will allow you to keep everything simple and easy to scale.
Setting up targeted ads is easy and straightforward. There’re plenty of free guides/certifications that’ll help you when you’re starting out.
- Facebook Ads for beginners: A step-by-step guide to running your first campaign
- Google’s Free certification course
- You Tube’s Free certification course
Once you’ve learned how to drive targeted traffic to your website, it’s time to gather customer feedback.
Step 8: Ask for customer feedback
When you think about gathering customer feedback, it’s easy to get overwhelmed. But it’s a step important to growing your business.
Once you’ve gotten some customers and maybe a few repeat customers, it’s time to ask them a few questions.
- What made you buy from us?
- How would you describe the buying experience?
- What nearly stopping you from buying?
- What would you like to see improve?
You should then improve your business based on the answers given by your customers. For example, if they said your website takes too long to load, invest in software that improves your website speed. If they said your checkout process is too long, find ways to make checkout easier.
Customer feedback is essential to improving your customer experience.
Starting a side hustle is a great way to replace your income and protect yourself against job insecurity. Use the steps I’ve laid out in this post and you’ll be on your way to financial freedom. Do you have any questions? Let me know in the comments below.