Start your own SIDE HUSTLE
Always dreamed of running your own business but not sure where to begin? Here are a few expert pointers!
Starting a side hustle is something many of us dream of and with the rising cost of living, a few extra dollars wouldn’t go astray. But it can also be a difficult and potentially tiring process, especially if you’re juggling your new enterprise with family obligations or a main career.
If you do decide to take the plunge, Iolanthe Gabrie, author of 100 Days of Brave, says the benefits can make it worthwhile. “You don’t need to remake the wheel – you just need to provide a service or product that’s in demand,” she says. “That could be anything from hairdressing to virtual PA-ing to gardening or cake baking.”
Here’s how to set up your side biz without burning out!
HOW DO I KNOW IF MY IDEA WILL WORK?
First, Gabrie says, you’ll need an honest opinion. “It’s important not to over-commit to a business concept before testing it out on people who are not your friends and family,” she says.
“Market testing is something even the biggest of brands can forget to do. It’s a costly lesson, whether we’re spending time or money on a project. You can find great online ‘vox pop’ tools to help you get real potential customer feedback before committing to a side hustle.”
DO I NEED MUCH MONEY TO START?
These days you can set up your own business without splashing a small fortune. “The internet has made commerce much more democratic in many ways,” Gabrie says. “You can certainly start a side hustle with little money. It’s possible to launch a website and create a brand with few resources.
“The important thing is that you do start and attempt to create as professional a business as you can within your means.
Some wonderful resources to help you build an identity include WordPress, Squarespace and Canva.”
HOW CAN I APPLY FOR SUPPORT?
“Look to your local council, state government and federal websites for grants that are either direct bursaries relating to your proposed business, or refunds on technology purchases or investments,” Gabrie advises. “Councils often run mentoring programs for entrepreneurs in start-up that can be useful.”
HOW DO I GET NOTICED?
To attract customers, you’ll need to deliver a polished product. “Having a brand is crucial as is professional photography,” Gabrie says.
“Marketing is effectively repeatedly exposing your brand to an audience for recognition. Professional photography imparts legitimacy.
“These two investments will raise you head and shoulders above competitors when it comes to attention – they can’t be done without in terms of a business. Don’t attempt to cut corners here – gaining traction without a brand and images is very difficult.”
WHAT ABOUT BOOKKEEPING?
Regardless of the size of your business, you’ll need to be on top of your taxes from the get-go. “One of the biggest risks of small business is non-compliance,” Gabrie cautions. “It’s important to understand tax obligations and the kind of ABN you should register. Ideally, speak to an accountant and get set up right to avoid bigger tax issues further down the line.”
HOW DO I AVOID OVERWHELM?
This is a common problem for many small business owners to which Gabrie says, keep your eye on the prize. “Don’t doom-scroll Instagram and Facebook, comparing your start-up to those that have many years in the market!
“Comparison is the thief of joy. Stick to your own lane, work with purpose and do what you do well,” Gabrie says.
“If you’re working intensely on your side hustle on weekends, you’ll need to carefully manage downtime.”
WHAT ABOUT ETSY?
If you’re selling your own crafts or other handmade items, Gabrie says platforms like Etsy can be useful. “But the most important investment to make is in your brand and your website,” she adds.