Working moms deserve an award for being perfect, multi-tasking specialists. Apart from their motherly roles at home, they still work hard enough to prosper at the office. Being a mum requires that you master many skills and perfect them while at it. As much as getting a regular job can be rewarding for a mom, it is not always the answer to all financial needs. As such, it is essential that you seek other forms of income through other side freelance hustles.
While moms are known to excel in anything they put their minds to, it is not always as easy as it seems. Starting and excelling in a side hassle calls for sacrifice, hard work, and strategy. The modern work and business space provide numerous opportunities for moms to get engaged in other side hustles apart from their formal job. Do not be afraid to start small as this is where it all starts. When starting, capital may be a problem. While some can begin from their savings, others may take advantage of bank loans. However, it would be worth noting that banks hate young entrepreneurs as they find them too risky to invest in. This should not be a hindrance to you as there are various other sources of funding like microfinance entities or even from friends and relatives.
Before starting on your side hassle, you ought to strategize and take precautions to avoid falling by the wayside. The following are some of the tips you may find vital on your journey to financial independence through your side freelance business:
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What does starting a side freelance business mean to you?
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When it comes to side hustles, everyone has their definition. What you term as a side business may be a different thing to someone else. So before you start your side business, take your time to determine the purpose, mission, and vision for the company. Well, understandably, you are here to make an extra coin, but is that all? Are you merely starting this side business to boost your current income or looking to take it a notch higher?
Most working moms would start a side hustle based on their hobbies. While this is commendable, it would be much better to go for one that you can eventually transform into a profitable business for the long term. By looking at the short term financial gains, you may lose the whole plot and end up creating a business that will frustrate you in the end.
Make a list of all your business ideas
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By the time you figure out the need to start a side hustle, you may have an idea of what you want to venture into. However, if you are yet undecided, then you should make a list of possible options you can go for. You can then brainstorm through them by asking yourself these questions:
- Do I have any passion or interest in this business?
- What are my skills and strong points about this business?
- Do I have enough time to start and sustain this business comfortably?
- What are the chances that I will meet my target audience’s point of need?
With these in place, you have a foundation for your business idea
Narrow down to a specific niche
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If you can answer the above questions exhaustively, then narrowing down to a particular purpose should not be much of a hassle. The business idea that stands out the most both of interest and potential to turn into a profitable business. For instance, if you love being on your computer most of the time browsing through social media and other online pages, then it may be high time you started a freelance online business. You will be surprised at how easy and seamless this will be considering your interests and skills.
Spare some time to learn more about your preferred side business
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Starting a side business just because you are passionate about it is not enough. There is more to a business than just passion and interest. This means you will need to learn more about the business side of your passion in terms of how to minimize costs and maximize productivity. You will need to learn how to promote best and market your business to reach a more extensive clientele. So take your time to research, study, and learn, both from books and other experts already in the business. Go through some preliminary research that will help set you on a good footing. This will come in handy even as you go through a continuous learning process once you start the business.
Gone are the days when working moms only had to depend on salary to cater to the daily needs of the family. It is especially challenging when you are the breadwinner in the family. By starting up a side freelance business, you are not only creating an additional source of income but also setting up a business idea that can potentially turn into a big business empire in years to come.
With excellent research skills, you should be able to avoid common cases in business, like lack of enough funding and competition. Be unique and stand out from the rest by starting strong and sustaining the business once it is up and running. With this in place, you will be surprised at how the business picks up, and within time, you will be thinking of quitting your formal job to focus more on creating your empire.
Turn Your Freelance Hustle Into A Business
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While freelancing is a fantastic way to make some extra revenue, you shouldn’t limit your opportunities. You have to expand your side hustle into a full-time reality. Some people think there is a massive difference between freelancing and the real market, but in both cases, the writer is a writer. If you already have experienced, go ahead. For example, if you are a graphic designer or a content writer, you can open a graphic design agency or a publishing house. Of course, it’s not easy.
First of all, you have to find your clients, determine a business name to get a business license, or if you are lack money, you can apply for a business line of credit on Lendza, which is an excellent opportunity for beginners. Next, before you get too much further along, you have to consider all the pricing structures, such as how to charge clients by the hour or by the project and so on. When choosing a business name, check its availability around the web and social media channels. The next step is to learn how to start a graphic design business; you only need a basic business plan. Remember, it’s just a business where there are upswings and downswings. Start now, and keep it going!
