Could A Few Small Changes Turn Your Side Hustle Into A Profitable Business?
The classic lemonade stand has given more than a few kids their first taste of entrepreneurship, but for most their self-employment dreams will fizzle before long. But for some of us, weekend business ventures or side hustles can become viable income streams, with a little work.
With the emergence of companies like Lyft and Uber, it’s super easy for people with even modest skills to turn their spare time into cash. SideHustleNation.com is literally full of ideas from those requiring minimal investment to some where you can use your considerable talents in unusual ways. But regardless of what you’re doing, there’s really only one way to make money, and that is by making your customers happy.
Keeping a steady stream of happy customers is the first step to making your side hustle a true business. While you might be able to cover a few household expenses by baking for friends and family, if you want what you’re doing to replace full time income you’ve got to have people ready to buy what you’re offering. For many companies, not having enough customers really does slow or even halt their growth. Whether you’re baking a scrumptious apple cake or renting out your spare bedroom, keeping the money coming is much easier when you’ve got happy customers singing your praises. According to UserIQ, one way of making sure you keep your customers happy is by educating them on the benefits of your business.
A few days ago, I spoke with my sister who mentioned that the frigid temperatures in central Indiana had her longing for a remote starter to avoid getting into a cold car. She vaguely remembered that little perk was something that had initially drawn her attention when she was preparing to buy her newest vehicle. She hadn’t given it much thought during her summer purchase, but the -22 wind chill jogged her memory, and with a little research she was able to identify how to use that feature which was readily waiting for her. Surprisingly, it’s not uncommon for people to be unaware of the hidden benefits of your product or service. If, for example, you clean homes for a living, having less germs is a natural benefit of what you do, but the extra time you save your clients is an added perk that might make you more valuable in their eyes. Getting feedback from your customers helps you know what they love most about what you do, which in turn helps you share those details with prospects to turn them into loyal consumers.
But as you grow, knowing which direction to lean can make the difference between you being left behind as your client’s needs change and being ahead of your competition. Initially, my family coaching business started as solely one to one offerings for individual families. Listening to client feedback helped me to know that some of my families also struggled feeling isolated with the “problems” they were having. Creating an online community for moms who want support without judgement is one place I’ve been able to set myself apart.
When we signed up for our cable provider, we were eager to have access to the superfast internet speeds that they boasted, sometime later when they came out with the ability to monitor and reduce screen times by controlling the Wi-Fi from my smartphone they showed me something I needed, even before I was fully aware there was a problem. Keeping your consumers educated and being willing to adapt is what will keep your business growing in the right direction.
Do you have a side hustle that you think can be a big business? Drop a comment and let me know what you do and anyway I can help you make this your best year yet.