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What is “Savoring” and How Can it Help You Build Wealth?
Snowball Team
Hobby.
Gig.
Freelancing.
Passion.
Whatever you choose to call it, it seems like everybody and their mom has a side hustle these days. So the real question is what is it? and how do you start one?
The concept of the side hustle is not new, but in the age of social media, it has had a big resurgence. Whether it’s coaching, flower arrangements, courses, travel blogging, or photography––there is an endless amount of activities that you can do to begin creating additional income in your journey to financial freedom.
In this post, I will discuss strategies to help you discover your inner entrepreneur so you can CREATE A PLAN, SHOW-OFF YOUR SKILLS, and GET PAID!
So first things first, do you even want one?
Maybe? The answer to this question is tricky because sometimes side hustles develop when you least expect them so you don’t have much time to reflect on this before beginning your journey. However, whether you have one already or are just starting, it is crucial you think about this ASAP!
The reason is because a side hustle will cost you your most valuable resource—TIME. The average side hustler spends about 10-15 hours a week dedicated to their business which translates into 2-3 hours a day. At first glance, this may not seem like too much, but when set against the 40-hour work week, it means A LOT of early mornings, late nights, and A LOT of compromise.
Does that sound tough? It is.
Is it completely worth it? Absolutely.
Ready to learn more? Continue reading.
So you decided you want one, now what? Ask yourself WHY
You may be wondering what’s up with all the deep questions, but trust me, this exercise will help you with everything for your side hustle, from the mission to scaling in the future.
Asking yourself WHY is the most crucial part because it will allow you to get clear on what your core business values are, who your target audience is, and create a business plan tied to your personal mission, making it more unique and compelling overall.
How do you go about this? Simple. If you have a passion or hobby, start by asking WHY it interests you and continue until you have answered these questions:
- What need am I solving?
- Who am I helping?
- What impact does this have the potential to make?
- What financial goals could I achieve with this?
Once you’ve answered the WHY, we can move on to the HOW!
There are many different ways to start a side hustle, but my biggest advice is to start SMALL and BE CONSISTENT. And I literally mean small–try to do something everyday that moves your business forward–even if it’s just talking to yourself about it-- because that will work WONDERS!
More tactically, the steps I suggest when starting are:
Set CONCRETE GOALS
This should tie in with your WHY and allow you to create realistic and measurable financial and impact goals for your little business that could!
(ex. Close 3 new customers a month until 2020, generate 10K in revenue for the year, speak at 5 conferences yearly)
Make a GAME PLAN
This should include the yearly, monthly, weekly, and daily specific steps you will be taking to ensure you are on track to meet your goals.
A great tool to help with this is a daily planner where you can list all your to-do’s and cross them off as you go along! You can also set timeblocks on your calendar to help ensure that you are carving out enough time to spend moving towards achieving your goals.
(ex. To close 3 new customers a month, you need to contact X people daily, to generate 10K in yearly revenue, I need to close X amount of deals per month,etc.)
Do your RESEARCH
Whatever activity you choose to pursue, do your RESEARCH! You want to make sure you know everything about the target market and earning potential before you fully commit to the idea.
Some of the questions to facilitate research are:
- How many people are in my target market?
- Who are the leaders of the industry I am breaking into?
- What value-add do I provide in the industry?
- What are the typical hourly rates for XXX activity?
- Who are my competitors?
Let the CREATIVITY flow
Once you have figured out your WHY, set your GOALS, and done your RESEARCH, you are ready to begin getting CREATIVE with your side hustle.
Some things to help get the creative juices flowing are:
- Thinking about a name for your side hustle
- Creating content to market your side hustle
- Devising marketing strategies to reach your target audience
- Making a list of who can help you gain access to more clients
- Developing a pricing structure for your side hustle
Put yourself OUT THERE and watch MAGIC happen!
Internet and social media are both very valuable because they can help you reach more people faster. It may seem weird to tell everyone at first, but all you need is that first client and then it will all begin flowing!
Once you are ready to start marketing your services, make sure you are TALKING about it AS OFTEN AS POSSIBLE so the universe (through the help of other people) can help put the right opportunities on your path.
Some ways you can help put yourself out there are:
- Instagram/Facebook stories
- LinkedIn posts
- Email blasts
- Posts in FB groups
- Cold reach-outs
- Networking events
So who’s ready to launch their side hustle?! Comment below with your idea. Cannot wait to hear how each of you is planning to take over the world!
One last thing as I wrap up the post,-- I am feeling inspired by ALL the talent there is in the world and I really do hope that you make the decision to share your passions with it, as well. I am a firm believer that if everyone did what they love, the world would be a better place so continue spreading your own unique light!
KEEP SHINING ✨
About the author
Catalina is the founder and head career coach at Catalyst Creation, which focuses on creating tools to build change makers to enable them to embrace their truth and dare to #livetheirbestlife. She has 7 years of Recruiting and Sales experience working for companies like Twitter, Johnson & Johnson, Facebook, and a16z. She is also an AfroColombiana who moved to the US at 9, attended the University of Nebraska-Lincoln, and lived in the Bay Area for 6 years before settling in NYC.
Follow her on IG: @curiouscata or add her on LinkedIn
