A side hustle is a part time business. It’s a great way for people who have an interest in starting their own business, to do so without committing all of their resources to it. The goal is to start small and one day grow into a full time business…this makes the side hustle a perfect business for aspiring entrepreneurs with 9-5 jobs.
In the recent months I have invested a lot of time into my new side hustle, GrowthEffect.com (now in the final stages of development). Prior to getting started on the development of Growth Effect, I was feeling the itch to start a business–something to replace my day job completely. However, quitting my day job wasnít an option.
I was thinking in the lines of all or nothing; either I can quit my job and invest my time solely to the development of my own business, or I would just continue working my 9-5 job, which is a job I actually like.
I couldnít fight the feeling. I had to follow my heart. My heart told me that it was the time to start a business based on my interest and skills – so I decided to start my business as a side hustle (a part time business).
Five Phased Approach to Starting a Side Hustle
I followed the following phased approach when developing my side hustle. This isn’t a comprehensive guide, but it doesn’t provide a high level view into starting a side hustle.
Phase I: Time Commitment
I started the process by devoting a certain number of hours during the work week, and a certain number of hours on the weekend to the development of my side hustle. This was extremely important so that I didnít allow this time to get in the way of other responsibilities that carry importance in my life.
Phase II: Identity the Hustle
I felt no limitations in what kind of business I could create. So I kept an open mind and allowed my creativity, interest and curiosity to guide me. It really helped that my business of choice had practical startup costs and is something that I’m willing to continually study without getting bored.
Phase III: The Startup
I started this phase by creating a project plan that included all of the milestones I needed to accomplish during this phase. Once that was completed, I went in and filled in the gaps with all the individual deliverables and tasks that it would take to reach each milestone. I allowed this project plan to guide me throughout the process. This kept me on track and organized.
Phase IV: Test Phase
A test phase is critical. Why? Because this is where you test out the business operations as well as your skills.. This crucial phase allows you to create processes, streamline operations and create a small portfolio to showcase during your launch.
During this phase I did client work for free or at a highly discounted rate in order to begin the process of acquiring testimonials and build my portfolio. But more than anything – it was a proof of concept process that helped me solidify my skills, and identify areas for further training and development.
Phase V: The Launch
First, I did a small pilot launch to show a selected few what I was up to. After gathering feedback and answering questions, I prepared to launch to a wider audience–who I referred to as my early adopters (Iím currently at this point in the process).
Having phased launch approach allows me to capture feedback and make final changes and implementations prior to my final launch.
Nothing should keep us from Moving our Goals Forward
I compromised–instead of taking the traditional route to start a business; I took a non-traditional route by creating a side hustle. Of course compromise comes with compromise…less time = slower growth, however, Iím moving my goal forward.
Jk writes about personal and professional development from a street smart perspective at The Hustler’s Notebook.com. Also, as shared in this post Jk recently launched Growth Effect, a web design and digital marketing agency.
Hi I'm a coach who believes life is an adventure, and entrepreneurs need to cultivate an adventure mindset to succeed.
{ 14 comments… read them below or add one }
JK, awesome you came here to John’s house to talk more about Growth Effect, and this process of setting up a side hustle.
As you know, I’ve been agressively pursuing this same thing over the last 2 years, much of which started when I bout the book ‘Mulitple Streams of Income’ and realized, “Hey, What’s holding me back from doing exactly this??”
Since that time, I’ve set up 4 solid income streams, and would like to move the number up to 6 or 7.
It’s really amazing the possibilities when we have the right approach and mindset, exactly as you spoke of here my friend.
Best,
Marcus
Amen to this buddy.
I couldn’t agree more. Setting up three separate income streams has helped me realize that growth isn’t always the same across each one.
As you say it’s all about the right mindset.
Hey Marcus,
I’ve always had some sort of side hustle. My most successful one was in real estate which led me to quitting my 9-5 and just working in that industry for 2.5 years until the market collapsed.
I believe that multiple streams of income is very important. The reason I haven’t really gone there yet (in my writing) is because I want to cover the fecundation layer first. Too many people get caught up in the idea of generating multiple streams of income, but don’t make one stream solid before moving on to the next. It’s a very progressive on-taking that takes time and focus.
Too many just think that they need to have money coming in from 6 channels…but when you have 6 channels producing $100 per month – then it’s a huge waste (unless that meats your income requirements). I’m on the conservative side these days but I believe that there should be at least one solid stream as you build the channels.
Anyhow – that’s stuff you already know and content that I’ll cover on later dates.
Thanks for sharing your insights bro!
PEACE
JK,
Thanks for showing us all how to setup a side hustle successfully.
You know I always admired your intrapreneur mindset, I can’t wait to see Growth Effect launch now
Thanks for providing me with the venue to share this post, John.
I have big plans with Growth Effect. I’ll be sure to keep you in the loop as to how things are going.
Thanks for your awesome support!
Hey John.
That is exactly what I am doing with my business.
It is what I would really like to do full time but it isn’t all I am doing, I work as sales and marketing manager for a larger company daytime and evening I work as sales and marketing manager for myself (and everything else).
It is a great way to start.
Hey Daniel,
I’ve found that building my business on the side allows me to not only build my business, but to become an expert in my business because of the pace…being able to study and learn all that I can – and apply my learnings to my work. Can’t beat that.
I wish the best to you in managing your square job (as we call it where i’m from) and your side hustle!
Hi JK,
This has been on my mind a lot lately. I work two jobs. Both are part time, and I am considering starting a side hustle to bring in more money to the household since it is just me and my son.
I am going to bookmark this. I have been working on a book, but I also maybe need to think about what other services I can offer.
I am glad I saw this. No coincidences, right?
Hello Nancy,
I’m glad you found this helpful. A side hustle can do a lot for us who are driven to satisfy our creative/expressive crave, all while adding to the bottom line.
I wish you the best in your endeavors! Thank you for the comment.
Hey Lori,
Thanks for the support in sharing my work with your contacts! It’s my hope that this provides them with a valuable/actionable resource.
Have a great day!
JK,
I had a feeling you might have written this considering all the references to the hustle. I think that there’s so much talk about qutting your job to live the dream that people don’t give nearly enough thought to the power of your side hustle. For people who can’t just walk away the side hustle is a perfect way to start the path to something entrepreneurial. But it’s about making your sure you use the time you have wisely.
My man Srini!
BRANDING! When you see the word hustle referenced…you think of me…I love it! LOL
Quitting a job and moving on to sole self-employment is a big step. Doable step…but one that comes with a lot risk. I’m not saying that risk is bad – but one way to calculate/reduce that risk is to start something while you’re still able to make a living.
It’s not a business model from everyone…but it’s a great one for those who feel trapped by their 9-5 to expand themselves and create a situation that can one day free them!
PEACE
Very true. Lots of “side hustles” going on, especially with entrepreneurial-minded people with more energy and creativity than their “day job” allows for. Good article.
p.s. Thanks for the Katt Williams tie-in! : )
Hey Scott,
It’s really a win/win scenario for those who have the energy and creativity to start a side hustle. And it’s a great way to build for the future.