Consulting Best Practices

5 Tips for Launching a Successful Side Hustle

If you want to dip your toes into consulting or do something else entrepreneurial, there is no time like the present to get started. So you might as well start today. In an article for Fast Company, Ryan Robinson shares five tips to up your confidence levels:

  1. Get constant feedback and start asking early.
  2. Be flexible on your strategy, but not your mission.
  3. Be passionate about the problem you’re solving more than your business idea.
  4. Build for the people you know.
  5. Don’t wait for inspiration.

Do the Hustle

Whether you are consulting or starting a business, something you need to learn very early on is whether or not people actually like what you are offering. Start collecting feedback on product offerings as soon as you can to see what customers like and do not like. You might find that it is actually a smart move to adjust your strategy. But make sure the actual mission behind the business does not change, because that is your anchor. If the mission changes, you have a different business on your hands. Likewise, do not be overly precious with your business idea. It needs to confront feedback and criticism if it is to get stronger and really solve the problem that you are trying to address.

About the tip of building for the people you know, Robinson writes this:

Michele Romanow knows how easy it can be to chase random market opportunities that present themselves. You may be tempted to build a product you feel is lacking within a market you don’t fully understand (or have a deep interest in), the founder of financing platform Clearbanc shared with me, but that’s often a risky move.

Romanow’s advice to mitigate that risk? “Create for the people you know best.” She suggests starting with “your own personal network,” since you’re more likely to understand their problems better to begin with. “Then do something creative and unique to really capture their attention and begin getting feedback on what you’re building.”

You can view the original article here: https://www.fastcompany.com/40527263/5-tips-for-launching-a-successful-side-hustle-for-real-this-time

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