After all, the side hustle gets me more money than my salary. That is a saying that we hear or have said on several occasions. If you are in this position or are considering it, let us do a social experiment first. While the books of your side hustle may…
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…
Assuming one has the required money, it would be time to consider one’s capability and experience to run the side hustle. Do you have adequate knowledge of the products you will sell or services you will offer? For example, opening a timber yard without knowing the characteristics of various types…
Finance, which is popularly referred to as capital, is an important factor in business start-up. It will consist of the money that you require to meet initial costs such as: Rent for the business premises. Goodwill (if any) to the landlord. Cost of renovations to business space. Installation of electricity…
A side hustle will take off if there is a ready market for its products or services. Conduct a market survey to determine whether or not a market exists. The survey can be done orally through talking to people in the area where you will locate the business. While in…
In previous articles on this platform, I shared a chain of articles on ways of generating business ideas. In this series, I will share with you some of the factors to help you evaluate the ideas before investing time and money. Once you select a business idea, evaluate whether it…