5 Proven Strategies To Turn Your Side Hustle Into a Real Business Wicked Fast

So you don’t waste your time or money trying to figure it out on your own

“My policy on cake is pro having it and pro-eating it.” Boris Johnson

Sometimes when we have a good thing going, but know there’s more out there, we may err on the side of caution. Sounds nice, but we feel stifled. And we’ll justify it by saying that you can’t have your cake and eat it too.

I think that’s a crock of bull.

It’s a fact that it’s possible to not only have that cake, and eat every bite, but that it happens every day all around us. We see it as others become successful and achieve the things we know we can as well. But before we can have it and eat it, we need to understand what it takes to make it.

Feel me?

It reminds me of a client I had a few years back…

***** I’m reminiscing now *****

She was a fellow nurse making decent moneywith her side hustle, but as she looked down at the pile of papers in front of her with notes and ideas for turning this into a real business venture, she knew that it was time to make a change.

Like a wave, a surge of excited energy pulsed through her.

She had been working on this little side-gig for years now- some days more intensely than others. It felt like the perfect way to express herself creatively without dealing with opinions or criticisms from people who didn’t understand what she wanted to do. Or of who she wanted to become.

And now it paid well enough that she could pay all her bills and have a bit leftover.

In fact, she told me, it was almost the same as her monthly nursing income.

Is this that proverbial edge of the cliff that solopreneurs and entrepreneurs always talk about?

You know, where you jump and build wings?

***** We’re back in the present now *****

Taking the first step into starting your own business can be intimidating. It’s a lot of work and responsibility, and it takes guts to put yourself out there like that. But what if you already have an established side hustle? What is the best way to make this transition? I’m going to share five proven strategies for turning your side hustle into a business. These are all easy steps with clear directions that won’t leave you feeling overwhelmed or unsure about where to start.

As you work on your side hustle, it is likely that at some point, you will want to take the next step and start a company. You know, “go pro.” There are many benefits to this step, but you need to be prepared for what’s ahead before taking the plunge.

Dig deep into the reason why you want to do this

We get so excited about entrepreneurship that we often gloss over this part.

Your “why” will be the fuel you’ll fall back on when the going gets tough. This is especially important because there will be times when you’ll feel like giving up. This is where your “why” will be the reason to keep going.

Here’s how to do it:?Ask yourself “why” five times. Stand in front of a mirror, alone. Just you and your thoughts. And ask yourself “why” you want this.

At first, you may reply to yourself that you want to change the world, or something very broad. So ask why again.

Now it may be that you want to help people who need your service. The 3rd why may be that it’s because those people are single moms who need a hand. The 4th why may be because you were a single mom, and you KNOW what they feel.

And the 5th why is gold. This is where you dig deep into your soul and realize that you were on the brink of losing your children as a single mom, and you want to help other moms avoid that pain.

This is your reason. This is your why. This is your light on the days it feels dark.

Write this down and put it somewhere that you’ll see every day.

Build relationships with companies in your industry or other industries that could provide networking opportunities

Think back to the first point above.

Recall that written statement you just did? What people or companies are already serving that niche or person? Which ones of them would be complementary to what you’re doing?

Once you know that answer, reach out.

It may feel awkward, and this will likely be the first time you reflect back to that written statement to gather the courage. But after your courage is topped off and you reach out, form bonds with them. Remember that ‘why’ of yours and be fearless.

Here’s how to do it:?You’ll obviously Google them first.?Then you’ll speed read and absorb all you can about them.?Before you continue, listen to your gut and ask yourself if these are indeed the types of folks you want to align with.

If your gut says no, stop. Move on. Instinct never lies.

If yes, then scope out their social media. Instagram, Facebook, Twitter (especially Twitter as it’s raw and fresh), and of course, LinkedIn.

Still a yes?

Good, send them a personal email and introduce yourself.

Up to this point, you’ve been successful as someone who runs a side hustle. But now you’re entering the big leagues.

So what next?

Start thinking about your marketing

It’s widely accepted that word of mouth is one of the most powerful marketing methods around. And I’d agree with that.

But for word of mouth to take root, where people actually tell other people about you, something has to happen first.

You need clients.

Sure, you may have a pocket full of folks who you worked with before going pro.

Will they know what to say? Will they learn to refer others? And when they do, what next?

I’m going to revisit that all-important ‘why’ again. You see, it should bleed into all of your messaging and marketing now. There should be an element of that in everything you do, say, post and share.

And as such, your clients should also know that that is why you’re different, memorable, and worth referring to. Your “old” clients may not know this…yet.

Here’s how to do it:?share yourself. If you have a website or landing page, then put your story on your ‘About’ page. When you Tweet, always have it be relevant to you and your mission. When you write emails to your list (you should have a list or at least start one ASAP), write them as if you’re writing to just one friend.

Long story short, be personal.

Pick one niche or focus area (or two) and specialize in those areas to appeal to a particular audience

The riches are in the niches.

Right now, you’re pumped and likely believe that everyone under the sun needs what you have. Remember this, though. If you market to everyone, you market to no one.

Time to focus.

Consider medicine for a moment.

When your kid breaks her arm on a trampoline, you don’t go to anyone in a white coat. You seek a specialist. More than that is you look for a bone doctor, aka Orthopedic doc. And even beyond that is you want an Orthopod who specializes in pediatric broken bones.

I have yet to have anyone ever refute the argument above.

Here’s how to do it:?Circle back to your why. Remember the 5th time you answered, and it may have made you cry?

Describe that person in detail. The person who you want to help. That mom (or whomever your target audience is). Is she just a woman? Or is she a 30'ish single mom, no education, barely making ends meet, and she wakes up every single day wondering how the hell she’ll feed herself and her kids?

Feels different, right?

Now tie this person all back into your marketing and go deep.

Give it the time it needs to grow and flourish

When my company made its first 7-figures, a lot of folks pointed to overnight success.

What they didn’t see was the five years of sweat, pain, hustle, and hard work that my wife and I put in.

So give it time.

This requires patience. But eventually, you will see it paying off. Start by setting up systems that work for you, such as bookkeeping, finances, etc. The sooner you do this, the easier it will be in the long run.

Our first 7-figures went on to multiple 7-figures, and I share that with you now because it’s part of our origin story. Our why. It kept us going through the tough times and the lean times.

Patience.

Here’s how to do it:?find yourself a good mentor who has been to the place you wish to be. And lean on them. As an entrepreneur, freelancer, side-hustler, it’s hard to want to slow down.

So find that person who won’t slow you down but will keep you from going off the rails. And in turn, helps you become patient so life and business will flourish.

The final word

After all, this time working on your side hustle, it may well be time to take the next step and turn it into a business. This can seem like a rough transition, but I’m confident what I’ve shared will help make this process smoother.

Remember:

Dig deep into why you’re doing it

Build and foster relationships

Start putting thought into your marketing message

Pick a niche (or two) and go deep

Have patience

The bottom line is before taking the plunge, you need to be prepared for what’s ahead.

When you’re ready to leap, remember,?we wrote the book on freelancer success.