Welcome back to part 2 of our guide on what you need to know when starting a side hustle. In part 1 we explored some of the steps involved with setting up your side hustle. One of the hardest steps is getting started, following that passion and making it a reality.
Let’s take a look at some of the tools and vital areas involved with getting that side hustle started.
1. Get ‘appy
Start off on the right path by having efficient systems and processes in place to keep your business on track for the long-run. There are plenty of apps and programs available to make managing your business a whole lot easier, here are a few we’ve handpicked:
- Hootsuite – Think of this as your personal marketing scheduler, where you create, set and forget your social media posts. Offering both free and paid plans, Hootsuite makes scheduling your social media marketing an absolute breeze.
- Skype – One of the world’s most popular voice and video messaging systems, Skype allows you to communicate and share ideas with anyone across the world.
- Square – A point of sale system that helps you financially transact with clients instantly. The app monitors your sales, sends your customers a digital receipt and collects feedback to improve your service.
- Expensify – Stay on top of your finances by tracking your spending and submitting receipts with Expensify. This free app allows you to instantly scan your expense receipts and import credit card statements, easing the stress of scrambling through that shoebox of receipts come tax time!
- Dropbox – Share and store photos and files with anyone across the world with Dropbox. Accessible across any device, sharing data has never been easier.
2. Be Online
When you’re starting your side hustle it’s important that people can find you and connect with you, especially within the online marketplace. Having social media accounts and a website will help create an online presence for your brand.
It’s a powerful platform to display client testimonials, to showcase your products and services and share information about your business.
Make sure your contact details are clearly displayed. You want to make it as easy as possible for new and existing clients to connect with you. For more tips and tricks of mastering the art of the digital marketplace these articles provide some insights to help.
3. Just make a start
Sometimes the hardest thing of all is putting the wheels in motion, but the good thing is starting is simple. Put your dream into action by:
- Buy a new notebook. Dedicate it purely to all your side-hustle ideas, thoughts, logos, brand names, anything to do with your business. Having a space dedicated solely to developing your ideas and business plans will help keep you motivated, and is the perfect place for jotting down those 3 am brain wave ideas in!
- Create a Facebook page for your business– It’s free and it’s a great way to start getting your business out there. It’s common for businesses to use their Facebook page as their website when starting out, helping keep costs down.
- Tell someone– It’s one thing to think and dream about your side hustle idea, but telling someone about it makes it a reality. Sharing your ideas with a friend or family member is a great opportunity to get the advice and support you need to make it happen!
4. Don’t forget your day job
While it is all good and well to start a side hustle, it’s important to not forget about your everyday employment. Always check with your manager and HR team regarding any conflicts of interest which may arise from your hustle on the side. It’s important to keep the two separate, and not let your side hustle interfere with your normal working hours.
5. Protect your hustle from hassles
The unfortunate reality is that no matter how much care you take and the precautions you put in place, accidents can still happen. Different types of businesses are exposed to different kinds of risks and that’s where business insurance becomes an important consideration for your business plan.
Side hustle businesses that interact with the public may need to consider Public Liability insurance to protect their risk of a liability claim. Public Liability insurance* is designed to provide protection for you and your business in the event a customer, supplier or a member of the public are injured or sustain property damage as a result of your negligent business activities.
If your side hustle involves providing professional advice or services, then you may want to take out Professional Indemnity insurance*. Professional Indemnity protects you against losses claimed by a third party due to alleged or actual negligence or errors in your professional services or advice. Your Professional Indemnity insurance will meet the associated compensation payable to a third party together with your defence costs (which can include legal costs, investigator costs and expert fees).
There are a variety of Business Insurance* options to help protect your business assets and to assist you in coping with an interruption to your business due to an insurable event. Examples of some of the coverage options include Building, Contents, Goods in Transit and Theft, with many more additional forms of cover available.
6. Ready, hustle, go!
With a bit of research, determination and steps in place to make it happen, starting a side hustle doesn’t need to be an overwhelming adventure.
To arrange your side hustle business insurance, the team at BizCover are a few mouse clicks or a phone call away and can help get your business insurance sorted in minutes.
*As with any insurance, the cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.
