Millennials have been identified as children who were born between the early 80s and mid-90s making the oldest ones 38 years of age this year. They have been described as Generation Y to distinguish them from their parents who belong to Generation X. When the millennials began landing at workplaces,…
The business description part of the business plan provides an overview of the proposed side hustle. It should cover information on the following sub-headings. Business Ownership Business Concept Business Location Form of Ownership Products or Services Industry Entry and Growth Strategy Business Ownership The focus questions for business ownership are:…
The fifth and last part of the Side Hustle Business Plan is the financial plan. This part covers information on the finance required to take the side hustle off the ground and how it will be obtained. Specifically, the plan will indicate the estimated pre-operational costs, working capital, start-up financial…
Following the walkthrough on the business start-up process, my next posts on shall be on how to prepare a Side Hustle Business Plan. A plan consists of decisions made in advance on a matter before it is undertaken. For example, if one intends to travel to Mombasa for holiday, he…
The side hustle launch may be broken down into the following two parts. Pre-launch preparations Launching day PRE-LAUNCH PREPARATIONS At least one month before the actual day of launching the side hustle, one should prepare a checklist of items to be put in place at the business premises. The same…
Business operation systems are standardised ways that an organisation uses to carry out its activities. Systems include processes, procedures and approaches for conducting business. Below are some of the areas in which one would develop and implement systems for running the side hustle business. Manufacturing Service Delivery Marketing Distribution Human…
Both the national and county governments exercise control over businesses to protect the interests of customers. They do so through issuing licences and permits and enforcing various business laws of the land. Below are some of the legal requirements for business operations. Licences and Permits Taxation Employees Welfare Other Business…
After choosing the location of a side hustle, the next step is to search for its premises. The search will not apply for an home-based or online-based business. It may take time to obtain premises in the chosen area if they are in high demand. Seek services of a property…
Of all the factors that influence business success, location is top on the list. Depending on the nature of your side hustle, below are some of the considerations in choosing its location. General area Neighbourhood Complementary Businesses Online-Based Home-Based Visibility Accessibility Rent GENERAL AREA One may target products or services…
With a viable business idea, the next step is to put in place the resources required for actual starting and running. the side hustle. Below are some items that one can make decisions on in the business start-up process. Business Name Legal Structure Business Registration Business Location Lease of Premises…
