What To Do First When Starting a Business

Building Your Hustle on a Rock-Solid Foundation

I would venture to say that most people looking to start a new hustle fall into one of two categories. The first category is home to the people whose finances are tight and just can’t seem to get ahead. The second category consists of those who are not passionate about their current work and want to turn their interests and hobbies into something that provides financial freedom. Regardless of which category you fall in, it is difficult to know what to do first when starting a business. It is easy to get excited about jumping right into the “fun part” of building your new business.

However, without a clear vision for your business (and I mean researched, written down, and triple-checked) it is easy to get way ahead of yourself. Hustleversity is designed to walk you through the essential steps of creating your new hustle in a way that gives you a solid foundation from which to start. If you take the time to set yourself up for success, the “fun part” can actually be the fun part!

Be Smart With Your Money From the Start

As you start your new hustle, there will be many expenses no matter which path you choose. Welcome to the world of being a business owner! The added responsibilities of being a business owner can be daunting, but don’t worry. This course is designed to walk you step-by-step through the ways that you can track your expenses, set up your business, and handle your taxes when that time comes. One tip that will help you is to keep your business expenses separate from your personal expenses from the start. This will make it simple for you to track everything business-related and get all the deductions that you deserve!

Keep It Simple…At First

Speaking of keeping things simple, keep your business simple, at least at first! You may have great ideas for how to grow your hustle into a million-dollar business, but starting any new hustle is a lot of work. I am of the mindset that getting the minimum viable product out first will help you in several ways. First, getting a working product or service out will keep you excited about what you are doing. The most frustrating experience is trying to make things perfect or too complicated from the start and never being able to actually start building your business!

Second, getting your product or service out in front of people will give you valuable feedback that will be crucial to helping your new business grow. Don’t be scared to learn and grow as you go. Companies don’t start generating millions of dollars on day one…usually. They start with a few good products or services and build as they begin to understand what their customers need. Marie Forleo has a fantastic article on starting before you are ready and is definitely worth a read.

Develop A Success Mindset

Lastly, and most importantly, is having the right mindset about your new hustle. The term “side hustle” is a bit of a misnomer. Side hustle implies something that you do on the side…something that you divert your remaining energy to at the end of the day. Building a business, no matter what your goals are, requires more than that…a lot more. Being obsessed with success is what it takes. If you have the slightest doubts that you will be successful, your brain will take note.

However, if you know that you will grow your business into a million-dollar business (and you have a plan to do it), you will. This is why setting clear goals and expectations from the start will set you up for success. If your goal is to make an extra $1,000 per month, you will automatically create plans to reach that number. If your goal is to make an extra $10,000 per month, you will create plans to reach that number. No matter what your goal, you need to have complete faith that you will succeed…and if you are reading this, I have no doubt that you have what it takes to be successful. Then, you can start working on your business plan!