This is a post by Elle Jo about making money.
These days, everybody seems to be side-hustling. There are lots of good reasons for this. The extra income is just one of them. Sometimes, however, you really can’t side-hustle. Maybe you really don’t have time. Maybe it would be difficult with your job or make your taxes complicated. There is, however, another way. Here are four tips to help.
Imagine the sort of business you’d want to have
If you could side-hustle, or even just give up your job and work for yourself, what would you do? Make some time to think up a business plan you believe would be genuinely viable. You don’t have to go into all the details. You just need a clear idea of how you could earn the income you would like from your business.
Buy a domain and set up social media handles
Domains come at all kinds of price points. Many of them are still very affordable even if you’re on a tight budget. Technically, you license a domain rather than buy it. In other words, you rent it on a yearly basis. That said, as long as you keep paying the fee, it stays yours. Social media handles are free.
The key point is to get a domain and social media handles which all work together. They don’t have to be identical, although it’s preferable if they are. They do, however, need to be clearly distinguishable from other domains and social media handles. This actually isn’t that difficult to achieve. It may, however, take a bit of playing around until you get it just right.
As a rule of thumb, if you’re at all interested in using a social media site, you should set up a handle there when you buy your domain. If you leave it until later, then you may find somebody else takes it.
Do some basic keyword research
If you start to monetize your brand, you’ll probably want to work with an SEO agency. In the beginning, however, you can do basic keyword research yourself. For example, brainstorm words associated with your niche, type them into Google, and see what suggestions it makes.
Choose one social-media site and do the same there. Once you have a list of keywords, look for accounts that regularly post in that niche and follow them. If you use a site that allows groups, look for relevant groups too.
Remember, big accounts can be useful as inspiration and examples to follow. Smaller accounts, however, can be better for networking. The same goes for groups.
There are two ways to start a business. One is to create a product or service and then market it. The other is to create a brand, market that, and then use it to sell products and/or services.
Building a brand definitely takes hard work and commitment. It is, however, a much more flexible exercise than freelancing for money. What’s more, as long as you’re sensible, it shouldn’t have any implications for your job or your taxes. You’re not “working a second job”. You’re just participating in social media.
Once you’ve built your brand, it’s yours for as long as you put in the time to maintain it. That means, even if you choose to keep it as a hobby, you have the reassurance of knowing it’s there if you ever need it.