141: Your 6-Week Plan To Starting A Side Hustle [Podcast]

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Do you need a 6-week plan to start a side hustle?

I know I did. When I start projects, I like to have some idea of where I am going. But in business startups, I have found I am often running blind.

When I meet with clients who are in the startup phase, I find they are often confused about what to do next. The advice they listen to (assuming they are listening to any) is often poorly thought out and keeps them busy with things that are not important.

So here is a simple 6-week plan for starting a side hustle you can do even if you are starting by working only at lunchtime or the few hours you can steal away to do your work.

Your 6-Week Plan To Starting A Side Hustle (Podcast outline)

Week #1 – Define Your Idea

• What will you do? 
• Who will you serve? 
• How will you get paid? 
• Use plain English – do not need a fancy slogan – this is just for you. 

Week #2 – Test and Get Feedback

• Test your ideas. Especially if you have more than one. 
  • Do not get bogged down in details UNLESS high risk or wealth (See 139: How to Decide if My Startup Should be an LLC or S-Corp)
  • If you need an LLC or some other structure then try to get one that would cover any of your ideas. (LLC of Callahan Enterprises instead of Callahan Lawn Care)
  • Define some easy customers
  • Start with a simple offering
  • Do the work
  • Get paid
• Get feedback from your customers
  • Ask what they think
  • What would they like
  • LISTEN / LISTEN / LISTEN

Week #3 – Evaluate and Adjust

• Evaluate
  • After a few weeks or a few jobs/deliveries
  • How do you feel? Still excited?
  • Did anything happen that made you squirm? 
  • Make a decision to stay, pivot, or stop. 
• Make adjustments
  • Adjust your offerings to be more in line with what customers want. 
  • Adjust any processes such as how you get jobs. 
• Put on your calendar to repeat evaluate and adjust periodically. (A repeat of week #3)

Week #4 – Market / Market / Market

• Get a clear view of your ideal customer
  • Who are they
  • Where are they
  • How do you get in front of them
• Create offerings with the ideal customer in mind
• Market
• Deliver
• Serve

Week #5 – Create a Cash Plan

• Decide what to do with the cash
  • Most just pocket the cash and spend
  • Instead, you need to have a plan. See Ep 118 How Much Should I Pay Myself?
• Create proper bank accounts

Week #6 – Create simple Processes

• Create simple and repeatable processes for
  • Doing marketing
  • Taking orders and delivering the product/service
  • Doing the books (monthly)
  • Handling the cash
• Document processes as you go with an eye toward growth
  • Use simple tools like Asana

Click here to listen now.

Shout Out

Highly recommended.
RodneyPhillips
★★★★★
“Dale never fails to give straight forward, well thought out advice on improving your self as an entrepreneur or want to be an entrepreneur. Dale gives out a wealth of knowledge and seems to have a sincere desire to help his fellow man/woman. Thanks.”

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Links mentioned in this episode:

• 139: How to Decide if My Startup Should be an LLC or S-Corp
• Ep 118 How Much Should I Pay Myself?
• Episode 119: Developing an Entrepreneurial Mindset
• Master of Engineering Management in Information Engineering and Management