As we continue to progress through the pandemic, millions of people have had the time to reflect, reconsider what they want, which includes being bold and starting their own side hustles, while keeping their day jobs. Taking on a side hustle allows for individuals to generate an additional source of income while gaining massive personal benefits. Of those personal benefits includes more flexibility, boost in confidence, risk-taking, and creativity, a larger network, and more business opportunities. These benefits are quite enticing and now is the time to focus on yourself, fulfill your passions, and turn that W2 Form into a 1099!
How To Start A Side Hustle
The level of difficulty in creating a startup can range from fairly simple to complex, depending on your ideas and missions for your company. For example, side hustles can even be as simple as tutoring, taking online surveys, selling your stuff online, etc. However, if you want to get your name and brand well known as an entrepreneur, there are several actions to be taken.
1. Make sure you are eligible to run a side hustle under your employment agreement
a. If you can, then you need to consider: what do you need out of the business, what do you like to do, what are your skills, and what would you like to learn?
2. Once you determine your idea for the startup, just note that there will be startup costs (equipment, digital marketing and advertising, industry-specific software, etc).
3. Figure out when and where you will work
4. Create a to-do list to get your brand known (marketing/advertising/networking)
5. Develop a financial plan
6. Figure out tax planning
7. Keep a record of expenses and profits & open up a business account
8. Determine if you want to form a business entity for liability purposes
9. Start to WIN over your customers!
Female Entrepreneurs During Covid-19
Driven female entrepreneurs can take their visions to the next level by stepping out of their comfort zone to start side hustles. This year has brought challenges to all, but many remarkable women have had the chance to make their dreams come to life. Although the virus has put workers at stress, many women have powered through this year to change the game in the health industry, wealth management industry, technology industry, retail industry, and many more.
One remarkable female entrepreneur, Allison Robinson, has created a female talent/recruitment system to connect and promote female workers together in this difficult time through her marketplace called “The Mom Project.” We definitely admire this entrepreneurial venture because we want to spotlight more female entrepreneurs!
We are sincerely amazed that we had the chance to make our travel and hospitality business a reality and we encourage you to start hustlin’ like us!