6 Goals For Your Side Hustle in 2021
Tags: Money, Side Hustle, Small Business, Business, Remote Work

Having a side hustle is a great way to make extra income and is a step towards living life on your own terms, as your own boss. During the pandemic, unemployment has risen and the number of people developing side hustles has increased with reports showing that 27% of Americans now have a side hustle of their own. But, how can a small side hustle replace a fulltime wage? It all comes down to dreaming big and setting small goals that will help to grow your business and your money! Here are 6 goals that you could aim to achieve in 2021.

Set a goal for your annual earnings

Before you start thinking about different aspects of your business that you could improve, it’s important to establish just how successful you want to be. Giving yourself a financial goal for 2021 will guide the rest of your decisions and keep you focussed on success. You need to make sure that your desired earnings are large enough to keep you excited but also attainable so that you don’t set yourself up for disappointment. Once you have established your financial goal, you can start to consider other areas of the business that can be improved.

Take your business online!

Many side hustles begin from the home, being promoted and sold through social media and word-of-mouth around the local community. These are both great ways to start earning extra income but, you will eventually hit a plateau with the number of customers that you can reach. Creating a website will take your small business to corners of the world that social media and word-of-mouth simply cannot go. Websites can be accessed by anyone with an internet connection and can be made easily and for free. You will need to make sure that you have a strong broadband connection and a good laptop/PC before starting to avoid any problems with software or buffering. Make sure that your website stands out, is targetted at your customer demographic and is easy to use- these are just some of the ways that you can ensure website success!

Reward yourself

Balancing a fulltime job and a side hustle requires hours of work and will eat into your precious spare time. After a long day at a job you hate, it can be hard to encourage yourself to get to work, yet again, on your small business but, it is all of this hard work at the beginning that will pay off in the end. To keep yourself motivated through the process, you should set small goals for yourself that you can reward with incentives, such as a new dress or bottle of wine. These goals will be achieved much quicker than your longterm goals which will keep you feeling successful and on-track with your targets. Small goals can be anything from completing your website, making a certain number of sales calls or selling a certain amount of products in one day.

Create a partnership

With the rise of social media marketing, partnering with an influencer or celebrity is an effective way to increase sales and establish yourself as a brand. When your side hustle starts to gain popularity, consider reaching out on social media to people who could potentially sell your business for you. Small influencers, and even sometimes regular social media users, will often agree to promote a product for free on their profile if you send them an item free of charge. Partnering with a social media influencer is a goal that will increase your chances of success and increase awareness of your side hustle.

Set a sales goal

One of the best ways to keep your eye on success is to set yourself a sales goal and work towards reaching that goal with every decision that you make. Reaching sales goals can take time and may feel unreachable at first however, every sale made is one step closer to reaching your goal and this incentive will keep you going! You could even make yourself a visual graph that tracks your sales- seeing it increase will keep you motivated and make your success clearer to see (which will help a lot on bad days!).

Learn a new skill

There are plenty of online resources where you can learn new skills that will add value and professionalism to your side hustle, which will help with growth. Many skills needed to go far in business do not get taught within the school curriculum, so why not spend some time teaching yourself? Gaining a new skill or qualification will also help you to stand out from the competition and ensure potential customers that your business is of high quality and worth their investment.