If you love spending time on your DIY projects, you are certainly not alone! Seeing your creations coming to life and being appreciated by others can be a source of endless satisfaction, pride, and joy. And, if you have already turned your passion into a successful side hustle, the chances are that you have also improved your finances through your skills.
After all, according to recent surveys, the average side hustler takes home an average of £6,300 more a year! But what if you are ready to take things to the next level and turn your passion into your main source of income? With the steps below, you can transform your side hustle into a profitable, successful business. Start outsourcing non-core tasks As you begin to expand your operations, it is important to start considering the importance of relying on a team of experts. However, if you are just at the beginning of your journey towards founding a successful business, you might be operating on a shoestring. In this case, there are some non-core areas of your business that you can outsource to increase your chances of success. Some of the best tasks you should outsource and leave in the hands of experts include marketing, accounting, logistics, and shipping. Outsourcing these tasks can help you focus on your creations and ramp up production. Find suppliers you can trust When handling a side hustle, you might have the time to source each individual item and choose every material. While in the beginning, hand-picking your supplies can give you a competitive edge, as your operations grow, you will need to find suppliers you can trust. For example, if you rely on industrial adhesives to bring your DIY creations to life, you will need to find a supplier that keeps up the highest quality standards, delivers on time, and meets your specific needs. Invest in marketing Marketing is a pain point for all new business owners: you want your business to be known and popular, but all you would want to focus on is your creations. While this is completely understandable, you don’t have to choose between marketing your business or finding the time to fulfil your existing orders. Instead, make sure to partner with an expert marketing team and allocate a consistent budget to deploy your marketing strategy. Keep track of your finances When transitioning from side hustle to a business, it is important not to leave behind your finances. Indeed, starting a business might require an initial investment and finance management. Don’t forget that poor cash flow forecasting is the main culprit behind 80% of business failures! If you are unsure about how to manage your finances, working with a specialised advisor or accountant can help. Continue improving your skills The success of your DIY business purely relies on the quality and uniqueness of your creations. So, make sure to keep up your competitive edge by investing in yourself! Learning new techniques can help you stay ahead of the competition in the long run.
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People who hate their jobs tend to move on and look for something else. Some even change their careers when they’re feeling unfulfilled by work.
But what do you do if you love your career, but need a new challenge? The good news is that there are a lot of ways you can turn things around and inject some excitement into your job. Here is some useful advice for taking on a new challenge, without changing your career. Move to a new location f you’re starting to outgrow your current workplace, moving to a new location could help keep things fresh for you. A change in location not only helps you realise new career opportunities but opportunities for your personal life too. Perhaps you want to move closer to home to be with family, or even move to an exciting new city or country? Wherever you decide to relocate, you’re going to need to get on the job hunt. Check out cmr.com.au for some exciting opportunities that could invigorate your career. A change of scenery brings all kinds of changes, and could be just what you need to shake things up. Start chasing that promotion Perhaps a part of your frustration comes from outgrowing your role? When your job starts becoming routine and easy, it could be a sign that you’re ready for more. Start preparing for a promotion so that you’re ready to go for it when the opportunities come your way. Volunteer your time and skills to help others If you’ve always felt like you could do more with your skills and expertise, why not use what you have to do some good for others? If the COVID-19 pandemic has taught us anything, tit’s that community values are more important than ever. There are several ways you can use your skills to help others, including mentoring, pro bono work and volunteering to help charities and good causes. This can bring a lot of fulfilment to your role, and could even help you discover new opportunities that could help you choose a different path for your career. Take on a side hustle Side hustles are a great way to develop other interests that you have, without sacrificing your career. There are inspiring stories of people who’ve embarked on incredible new ventures, from starting fitness businesses to their own pizza brand! It’s possible to be passionate about more than one thing at a time, so why not give it a try so that you can get more out of your career. If you’re dissatisfied with your current situation, then it’s time to make a change. Even if you love your career, it doesn’t mean you have to stay exactly where you are - there are ways you can develop and grow tbring exciting change to both your career and your life outside work. There are all kinds of challenges out there waiting for you, so which one will you take on first? If you've retired and looking for something on the side, your own little side hustle then it might be worth checking out the book, '100 Side Hustles: Unexpected Ideas for Making Extra Money Without Quitting Your Day Job by Chris Guillebeau. Forbes has more on the great read!
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November 2024
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