Anyone who’s been working a side hustle dreams of it transforming into a viable independent source of income overnight. However, not everyone is that lucky, and it’s only a select few who can watch as their darling baby sprouts into a behemoth.
When this happens though, it can come as a shock, and once you compose yourself, it’s still a bit of a shock. However, eventually, you’ll come fluttering back down to earth with a renewed determination to smash and slay. So what do you do?
In the past, too many budding hustlers have fallen at the first, second, or final hurdle. Don’t let you be one of those. To make sure your side hustle – now number one hustle – continues to grow into the beast you always knew it could, here’s some advice on what to do next.
Relax, It’s Going to Be Okay
First up, take a chill pill and sit down. In fact, many people would advise you try your best to sleep and wake up tomorrow with newfound clarity. At such exciting times, though, getting some shut-eye isn’t always possible, so instead, just take an evening to yourself before all the hard work begins tomorrow.
Open a New Bank Account
If you haven’t already, it’s time to open a new bank account separate from your current one. With this bank account, you can keep track of your different incomes and start making decisions about what to do with the money.
Smart money management will be crucial at this early stage, and knowing how much you can dedicate to further growing this new business will be made easier by seeing how much you can spend. Speaking of…
You don’t want all your newfound cash to disappear before you’ve even organised everything. While you might feel you can spend frivolously, saving as much as you can right now will pay off later on. Where you can, look for favours to get freebies or discounts for business cards or logos.
There’s always some not-so-simple legal stuff to sort out when transforming your hustle into a legit business. Getting in touch with UK Company Formation should make this process more manageable, and the experts can help talk you through everything you might not be 100% sure of and could save you the hassle.
It’s not as glamorous as other parts of the process, but it is essential, and if you want to ensure you don’t get stuck in any legal quagmires, getting registered is essential. Don’t miss out.
Getting advice from friends, mentors, and experienced business owners helps to steady the currently rocky ship and helps give you some clarity. Without this advice, you risk succumbing to the pitfalls that plague less-successful businesses. Be sure to take every piece of advice you can.
There are plenty of online resources regarding business advice. Some of them are free; some of them are not. But what’s important is that they can all offer help when you’re staring down the barrel of a scary – if exciting – new venture.
You’ve done a lot recently, so take some time to breathe and check out your surroundings. Appreciate everything, maybe catch up with some friends and family. Life can’t always be go, go, go.
Sourcing new clients is a big part of your side hustles growth, so you need to network like someone possessed. Don’t feel like you have to take on and work with just anybody, though, as not all clients will be right for you.
Being selective with your clients means you can find only the right people for your new business. These clients will have as much love (almost at least) for your business as you and so will be happy to treat you right, but will also expect the same in return.
Increased exposure from new clients and projected growth means you may need to find a new and larger space to operate from. If you’ve been hustling from your bedroom all these years, a new space can be scary, but there are plenty of coworking areas, and creative spaces available for you to engage with like-minded and successful people/ not only will this help further with networking, you’ll also be able to grab advice whenever you need.
Soon, there won’t be much more you can do other than keep on pushing on. There’s no need to get bogged down in your new career though, so remember to crack open a bottle of wine, spend time with friends and family, and treat yourself every once in a while.
The Beauty of the Beast
Look at you being a full-blown entrepreneur and everything. The hard work has only just begun, though, and if you want to be successful it’s vital you don’t rest on your laurels and instead ride this high of success into the sunset, everyone else will meet you there when they can.
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