Ever thought of turning your passion into your own business? Shelagh Cummins helps women entrepreneurs do just that. For more than ten years she’s taught women how to grow and scale their business and she’s got great advice for how you can too!
Passion & Courage
Anyone can go out and make money; but if you’re massively passionate about something, maybe it’s worth the leap. Odds are if you see a need not being fulfilled, others do too. It’s okay to not be perfect or fully ready; the only way to wade through fear is with action. Yes it’s scary. Be courageous and do it anyway!!
Follow The Runway
Look at your financial obligations; are you able to dive right in, or should you start slow? Moving from the stability of your career is tricky; the runway strategy allows you to start slow. Here’s a good rule of thumb to follow: In the beginning 100% of your income will be through your main gig. As you start maybe 10% will come from your side hustle, then 20% and so on. When you are at 60% to 70% revenue coming from your side venture, that’s usually the tipping point to do it full-time.
Find the community that you’re serving and search out people who you can learn from and help. It’s as simple as, I see you have a need for this; why don’t you let me help you? And keep this in mind: KLT (Know, Like, Trust) makes it more personal. Who doesn’t want to be seen and heard! Push Marketing is that unpleasant experience we’ve all had of someone pushing their product or service on us. Instead, use Attraction Marketing which comes from a place of service and teaching. You are an expert in your field; believe in what you’re offering and make that shift to a place of service to others.
Finding Your Value
Knowing what to charge is about knowing your value and charging your worth. We often undervalue what we do. Look to others who are doing similar work- what are they providing for what cost? Are you offering less or more than they are? Decide if you should charge an hourly rate or a fee per project. Although it is normal to trade time for money, it will often catch up with you. Creating a package for a fee is often beneficial for everyone.
Making It Happen With Power Moves
No, not the power squats you do at the gym! Power moves are the often small daily or weekly steps that you are going to take to get to your goal. Maybe it is connecting with someone online, or deciding to make three phone calls. Think about the end result and start backward doing those small actions to get you there. All these little moves will eventually lead you to your final result.
You too can make your side hustle your main hustle. Remember, the biggest barrier is just being brave enough to start!