Career with a side of Hu$tle

Today, there are over 30 Million small businesses across the U.S. 80% of them are “solopreneur” ventures (the owner is also the sole employee in the company). A sizeable chunk of those solopreneurs are just like you and I – someone with a full-time job that has decided to take their talent/passion/idea to the next level. 

But, how do you get started? You have a great “day job” that you love…how do you make time to excel at both?

For the past 12 years I have been blessed with an awesome career of increasing management responsibility at a Fortune 10 company. During much of this time I moonlighted as a Disc Jockey, performing at over 1,000 corporate, private and nightclub events across the U.S. including the White House Correspondents’ Dinner and 3 years as a DJ for an NFL team (Who Dey!!). I’ve also dabbled in personal investing for a few years, finally getting serious by establishing a real estate LLC last year.

In my humble opinion, your ability to have a successful career and take your talent/passion/idea to the next level creates an opportunity to reach new audiences, build new skills and experiences that differentiate you at work and accelerate personal finance milestones via this additional income stream.

Below are my top lessons learned along the way – hope a few of them resonate with you!

Create a plan and ROI goals

Investing the time upfront to create a sound business plan will pay off. Here is a great resource for building an initial business plan (target audience, marketing objectives, etc).

I also recommend setting measurable growth targets. Example: “Within two years, profits from the small business should cover 100% of my mortgage expense.” This can be your north star to help ensure return on your significant time & resource investment.

Invest in technology

Technology has significantly lowered the barrier to entry and increased the ability for a small business to communicate with current & prospective customers on a global scale. I recommend a small business tech starter kit consisting of:

1. Communications: For under $100/month with AT&T you can get a small business package of mobile & business phone and high speed Internet with Wi-Fi. Sound like a big investment? That’s one less frappuccino each day.
2. Website: Desktop and mobile friendly. WordPress offers easy-to-use templates to build your own site. My wife, Jacqueline, built her parenthood & foodie blog, www.TasteFullLife.com with ZERO web design experience!
3. Marketing & Advertising: Facebook, Instagram, Twitter, Yelp, Google support free account set up and flexible advertising packages (as little as $1 per day!). Potential clients love reading testimonials from previous clients. Let your reviews do the talking!
4. Digital Payment: In today’s world, not having a digital payment option is a competitive disadvantage. PayPal and Square are great options for new startups.

Find a mentor

Mentors at your day job and in your target industry are critical to your success. Find someone that has already gone down the road that you are planning to travel.

Decide if and when your two worlds intersect

Should you share your side business with your current employer and co-workers? My advice: know your audience and find organic ways to bring up your “fun fact”. Assuming that you are in a culture-driven work environment, people will want to hear about your outside hobbies and interests that make “you, you”. Bring your authentic self to work; you may find your next customer or business partner there!

Know when to increase & decrease output

The initial excitement with starting a new side business is going to lead to long days and nights. However, over the years as career (and life) responsibilities increase, it is important to know where to draw the line. While there will be times to decrease your output to focus on other priorities, it is important to keep a presence. Periodic social media posts, uploading new samples of your work to your website or request new reviews from previous customers are all good ways to keep your brand consistent.

Build your business to a point where you can outsource

By this point you are raking in the dough (hopefully!). As much as your budget allows, outsource everything that is time consuming and not strategic. Website updates, taxes, schedule management, client communications, etc. Hire an assistant. Find an unpaid intern seeking industry experience. As your career and your business begin to take off you will need the help – time is money!

Thanks to technology and the ability to instantly connect with people around the world, there is no better time than now to take that first step toward launching your small business. Good things come to those who Hu$tle!

What talent/passion/idea are you ready to take to the next level? If you already have a small business, what other tips can you share? Did you recently launch a new business that you are proud of? Share it here!