Hi, I'm Louise.
In January 2023, armed with a passion for creativity and a desire to explore the world of making money online, I embarked on my side hustle/small business journey. With limited resources, I turned to platforms like eBay and Vinted to sell items I no longer needed, raising some initial cash to invest in my venture. I also started taking online surveys to help with my cashflow. I've written another blog outlining the best sites I've found so far which you can read here.
Building upon the previous success of my existing Etsy shop, I set up two additional shops on Etsy to expand my offerings. I have started to create a diverse array of digital and physical products within three different niches (hence the 3 shops). From handcrafted items and kits to versatile digital templates, my Etsy shops are constantly growing. If you aren't sure what digital products you could create, I have a free guide, click here to download it.
As I approach the six-month mark, my small businesses are experiencing steady growth. What started as a humble side hustle has evolved into a potential online enterprise. Along the way, I have discovered numerous avenues for making money online, from affiliate marketing to digital courses.
Here are my tips to starting a successful side hustle or small business:
1. Identify Your Passion and Skills:
The first step in starting a side hustle or small business is to identify your passion and skills. Consider what activities bring you joy, what you excel at, and what you can offer to others. This could be anything from writing, photography, graphic design, baking, tutoring, or even creating handmade crafts. Your passion and skills will be the foundation of your business, so choose something you genuinely enjoy.
2. Do Your Research:
Once you have identified your passion and skills, it's important to research the market to ensure there is demand for your product or service. Analyze your target audience, competitors, pricing, and potential growth opportunities. This research will help you understand the market dynamics and give you insights into how to position your business effectively.
3. Start Small and Test the Waters:
When starting a side hustle or small business, it's often advisable to start small and gradually expand as you gain more experience and confidence. Begin by offering your product or service to a few customers or within a specific niche market. This allows you to gather feedback, refine your offerings, and make necessary adjustments before scaling up.
4. Set Realistic Goals and Manage Your Time:
Setting realistic goals is essential to keep yourself motivated and track your
progress. Break down your long-term goals into smaller, achievable milestones. However, remember that a side hustle or small business requires time and effort. Efficient time management is crucial, as you'll be juggling your business responsibilities alongside your regular job or other commitments. I've created a business planner to help you achieve this.
5. Market Your Business:
Marketing is a key aspect of any successful side hustle or small business. Utilise the free online avenues including social media platforms to reach your target audience. The use of email marketing is also very important.
6. Learn and Adapt:
Starting a side hustle or small business is a continuous learning process. Stay updated with industry trends, attend workshops or webinars, and seek guidance from mentors or experienced entrepreneurs. Be open to feedback and don't be afraid to change as you grow your business. Do take care though, trust your gut and choose who you listen to for advice. There's so much available which can become overwhelming. Embrace the challenge that you have created.
7. Manage Finances:
Keep track of your income and expenses to ensure the financial health of your business. Set up a separate bank account (I've used Monzo and you can get £5 for creating an account*) for your side hustle or small business and maintain accurate records. Consult a financial advisor or accountant if needed, especially when it comes to taxes and legal obligations. I have created a finance tracker to help you do this, it can be found in my Pensight account.
Conclusion:
Starting a side hustle or small business can be an exciting and rewarding journey. By using platforms like eBay and Vinted to raise initial capital, setting up accounts on Etsy, establishing an online presence through social media, and tapping into the immense potential of platforms like TikTok and Pinterest, you can transform your side hustle/small business into a flourishing online success.
Through my own journey, I have discovered the limitless opportunities available to entrepreneurs in the online space. With dedication, creativity, and a commitment to continuous learning and adaptation, you too can carve your path to success. Remember, starting small, setting realistic goals, and prioritising effective time management are key to achieving long-term growth.
So, what are you waiting for? Unleash your passion, harness your skills, and embark on your side hustle/small business journey today. The online world is brimming with potential, waiting for you to tap into it. Let's inspire and support each other as we build our dreams and create a life of fulfillment and prosperity.
If you'd like to see the evolution of my side hustle/small business, Join me over on my TikTok account. Follow along as I share updates, successes, challenges, and insights gained from my entrepreneurial journey.
To read more about how I've started to earn money online and how you can too, my ebook is now available. Click here to purchase.
*Affiliate disclaimer: If you click and sign up through my link, I may receive a cash reward at no cost to you. The only affiliate link in this blog is for Monzo, all other links are my own products.
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