Side hustles have always been popular since they allow people to engage in their passions and earn extra cash while holding down a traditional 9-5 career. But this idea of turning your side gig into a full-time job and your sole source of income has become more popular recently as our resources for doing so have amplified. Even reputable online media companies like Business Insider have promoted this idea, covering case studies and providing some tips.
However, as Neil Lassen told Business Insider, taking a side hustle full-time requires time, patience, and investment. That can be difficult for some people, as their passion may cloud their rational judgment. Fortunately, many resources are available to help you get your side gig up and running.
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Use Free Market Research Tools
Whether you’re self-employed and turning your personal brand into a business or you’re a new tech startup in California, you need to conduct market research to understand your customer base and the environment you’re working in. If you want your side gig to be a legitimate business, you can’t sit around anymore, hoping your website or Instagram account will magically gain traction. Market research will help ensure this happens as you’ll find new ways to connect with existing and prospective customers through data and analysis.
Because you may not have funding during this transition, take advantage of the many free market research tools and resources available, such as Google Trends and SurveyMonkey. Google Trends, in particular, is a great platform to find out the level of interest in a specific service or product and how that interest fluctuates globally. For example, when you type in Apple on Google Trends, you can see that interest stagnated before spiking in September 2022. That correlates to when the tech giant announced the iPhone 14 handsets at its Far Out event on September 7.
Use Services for Better Time Allocation
One of the reasons some people may hesitate to turn their side gigs into a full-time career is because they are doing everything themselves in the early stages, and that includes financial administration. Core aspects of a company, such as summing up expense sheets and counting income, can be daunting. But, it doesn’t have to be, considering the digital age has transformed the industry, and most companies now have the option to use smart business solutions to simplify bookkeeping.
For instance, Xero is a software-as-a-service solution founded in 2006 that saves companies time by providing quick access to account balances, cash flow, invoices, and more. Anyone can use it, too, from self-employed individuals like Amazon sellers to start-ups and other small or medium-sized businesses. When you don’t have to worry about manually inputting expense sheets, you have more time to develop your business and connect with customers.
Use Educational Technology Tools
No matter the level, you can never stop learning since the business world is constantly changing. Even if you think you know everything there is to know about the industry you’ve chosen to move into, take the time to brush up on your business, tech, and creative skills. Platforms such as LinkedIn Learning are one of the best tools available since it gives you access to more than 16,000 business, tech, and design courses led by industry experts.
Years ago, turning your side gig into a business would have been risky, but today, it has become the norm. However, that doesn’t mean it’s an easy journey. Many people don’t follow through because of various worries, such as not knowing what their customers want and not allocating enough time to financial administration. Fortunately, many resources, services, and tools are available to help you get your side gig running, from accounting services to free market research tools.
