Building a new business is an all-consuming endeavor. Supporting your new startup is not easy: it can take a while to establish a steady stream of revenue. In the meantime, budding moguls may have to take on additional work outside the business to cover expenses.
While many people think of a “side hustle” as a part-time passion project for the otherwise employed, it can also be a way for you to support your dream. The benefits of your side gig can include money and a higher profile for your business.
Public Speaking and Blogging
There’s money to be made in talking about your entrepreneurial experience. Public speaking has many perks: you can promote your business, take a speaker fee and promote yourself as an expert. In a way, it’s like being paid to advertise your company.
You don’t have to talk about building a startup, either: you can find gigs talking about your company’s core competency. If getting in front of a crowd is not your thing, consider blogging. With a few tasteful ads and affiliate links, you can also bring in some much-needed cash.
Dropshipping
While it’s true that dropshipping can become an entrepreneurial endeavor all its own, with an efficient set up it can be a lucrative side business. Dropshipping means you essentially take and process orders for products packaged and shipped by a manufacturer.
You can set up a business name and website, use social media to market the online store and begin taking orders. Of course, you’re ultimately responsible for the goods received by the customers, so choose your dropshipping partner carefully. In addition to processing orders, you’ll have to handle all aspects of customer service.
YouTube Tutorials
Starting a channel on YouTube serves a dual purpose:
- With enough traffic, you can earn ad revenue.
- By posting informative videos related to your company, you can build your core business.
It takes time to build an audience, but while you do so, you’re informing them of what else you have to offer with your company. Think of YouTube as a search engine which drives traffic to your website just like Google.
As an entrepreneur, you already have to keep your ears and eyes open for new opportunities. If you see a chance to increase your income which may also raise your profile as a business leader, consider how it might fit in with your overall goals. It may be just what you need to keep the business afloat and your personal energy on the upswing.