Do you have a side business—or would you like to start one? Share your thoughts in the comments below.
I don’t know about you, but the latest economic news has me holding onto my coins and thinking about how to make more of them.
Between the layoffs of federal government workers and news of companies such as Macy’s, Google and Walgreens downsizing, I’ve been wondering how the next few years may affect my pocketbook.
In the quest to shore up my finances, I’ve been thinking about ways to scale my business or cater to more customers without expending a lot more personal effort or money. As a writer, that might mean writing books and information products that would enable me to create something once and sell it over and over again. A chef might scale their business by offering a line of cookbooks or teaching virtual cooking classes to groups.
We can also add scalability to our side hustles. With nearly one in three Black women having a side hustle on top of their nine-to-fives, I wonder if we are selling ourselves short by settling for a little extra money when we could be scaling them and building an enterprise?
If you had a side hustle and gave it up, now might be the time to resurrect it with the goal of creating something bigger. And if you’ve been flirting with the idea of starting a side gig, consider one that offers a template for growth.
These two enterprising sisters are scaling side hustles with the goal of earning full-time incomes. Here’s how you can do the same.
Carolyn Kirkland, 66, Columbia, Maryland
Business: Amazing Minds Daycare
How she got started:
As one of 13 children, Kirkland grew up looking after her siblings’ children. So watching the children of friends on the weekends was the perfect side hustle to her job as a collection agent during the week. But when her company announced plans to relocate, Kirkland wondered if her hustle could sustain her full-time.
How she scaled her hustle:
She did market research. “I interviewed for jobs in other daycares just so I could see how they operated,” she says.
She leveraged her severance. A full-time job can be an asset when you’re starting a business, as it provides steady income before your hustle makes a profit. When Kirkland left her job, she lived off her nine-month severance package while securing the licenses and certifications to work her hustle full-time.
She honed in on a target market. Rather than trying to be all things to all people, Kirkland targeted her services to nurses at a local hospital. She provided childcare services to accommodate clients’ weekday, overnight and weekend shifts. By servicing multiple shifts, she tripled her revenue, and now she runs her business full time.
Kim Woodard, 41, McDonough, Georgia
Business: Family Horizons
How she got started:
As a resident relations specialist at a property management company, Woodard gained a good understanding of the commercial real estate game. To make extra money, she started helping local property owners fill vacant units with people in need of affordable housing.
How she scaled her hustle:
She leveraged her expertise. In a previous job, Woodard worked in social services, helping homeless families find permanent housing. In her current job, she learned the business side of property management. Her hustle allowed her to use all her professional skills.
She built relationships. Woodard sought out case workers who helped people find affordable housing. She created a stream of potential tenants for her clients through those contacts.
She found a partner. With a full-time job, Woodard could only devote so much time to her hustle, so she partnered with another entrepreneur. The two of them split the duties and in 15 months they’ve gone from working with two property owners to eight. “I know that it has the potential to turn into something that I can transition into full-time,” Woodard says.
Wondering if your side hustle has what it takes to grow? Here are some steps that can help you soar.
Choose something you love. It’s one thing to work a side hustle for a couple hours a week. Make sure the idea of working it five days a week even appeals to you. “I work 50 hours per week. It doesn’t feel like it because it’s something I enjoy,” Kirkland says.
Look beyond one-to-one services. Look for ways to sell a service to multiple people at once. Instead of driving an Uber, maybe you can drive a tour bus. Instead of offering one-on-one coaching services, offer webinars where hundreds of people can pay to hear you speak.
Be willing to split the work: Even if you don’t want to take on a full partner like Woodard, hiring another gig worker from a site like Upwork, Fiverr or Guru, or offering an intern work for experience can free up time for you to focus on tasks that bring in more money.
Make the most of technology: Apps that respond to potential clients automatically allow your hustle to operate even when you’re working your full-time job. For example, scheduling apps like Calendly, SimplyBook.me and Acuity Scheduling let you line up appointments 24 hours a day.
Prepare to give up free time. Even if you make the most of technology, you may have to use days off and vacation time to focus on your hustle. Woodard puts in 40 hours per week with her full-time job. When it comes to her side hustle, “I do about 20 hours a week and a lot of times, it’s on the weekend.”
Scaling your side hustle won’t happen overnight, but if you’re willing to put in the work and practice patience, you’ll eventually realize the gains, Kirkland says. “If you really love it, success will gradually come.”
Do you have a side business—or would you like to start one? Share your thoughts in the comments below.
