If you’re feeling motivated to start a side hustle, you’re in the right place. You might have heard from your parents or teachers that you should learn from other people’s mistakes and that’s what this blog is all about. As a former side hustler turned entrepreneur, I’ve made these mistakes myself. These tips come from firsthand experience. Knowing how to avoid them will help you build a successful and sustainable side hustle. Let’s get started!
Mistake 1: Not Defining Clear Goals
Without clear goals, you might find yourself directionless and frustrated. You will not feel motivated to achieve them since there’s no definite timeline and no pressure to excel.
Solution: Set specific, measurable, achievable, relevant, and time-bound (SMART) goals. For example, instead of saying “I want to earn extra money,” specify “I want to earn an extra $500 per month within six months.”
Mistake 2: Choosing a Side Hustle Based Solely on Trends
Expect to feel burnout and disinterest in just a couple days of working on a side hustle you aren’t passionate about. If you aren’t a dog person but start an organic treat business, you are not going to feel motivated to work on it since there’s no passion involved.
Solution: Trends change, and what’s popular now might not be sustainable long-term. Choose a side hustle that aligns with your passions and skills. If you love photography, consider starting a freelance photography business instead of selling a trendy product you don’t care about.
Mistake 3: Underestimating Time Commitment
hustle requires a lot of active hours in the first few months. If you might find it challenging to balance a full-time job, personal life, and a side hustle.
Solution: Create a realistic schedule that allocates specific times for your side hustle. Break tasks into manageable chunks and set deadlines. For example, if you’re starting an online store, set aside time each week for product research, marketing, and customer service. Make a budget for outsourcing digital marketing, website design, and use automation tools to do more things at once.
Mistake 4: Ignoring Legal and Financial Aspects
You just can’t go spending on things you feel you need to run your side hustle. Do not forget to register your business and pay taxes.
Solution: Research the legal requirements for your side hustle. Register your business, obtain necessary licenses, and keep accurate financial records. Make sure you have a bulletproof contract in place for every client, if you are in the service business.
Mistake 5: Skipping Market Research
Just simply assuming there’s a demand for your product or service without proper research will definitely result in poor sales and wasted efforts.
Solution: Conduct thorough market research to understand your target audience and their needs. Use surveys, social media, and competitor analysis to gather insights. Talk to your target audience and think how you can make their life better or solve any problems for them.
Mistake 6: Trying to Do Everything Yourself
Taking on every task yourself can lead to burnout and inefficiency. You may also not have skills in certain areas, which can affect the quality of your work and make it appear unfinished.
Solution: Hire freelancers or use automation tools for tasks like marketing, accounting, or website management. It also allows you to be consistent with posting on social media, email marketing, because you are working as a manager rather than a creator, which is more time consuming.
Take easy breaths and write down a step-by-step plan to start your side hustle. Hold yourself accountable and celebrate the small wins. I post weekly blogs to help side hustlers on my website, take a look here at Carrie’s Courses!
