Few things feel more fulfilling than a profitable side business. If you run it well, the extra income that comes through and the people you get to meet are excellent. But that hardly happens by default.
For many successful side businesses, the owners are doing something — or many things — right. Or at least they’re doing less of the wrong things that derail progress.
Here are seven of the most vital keys that will help you build a better side business, at next to no added cost.
Honing your most valuable skills
Not all skills are created equal. But which of them do you focus on — and hone — if you want to build your side business? There’s no right or wrong answer, as it’ll all depend on what you do.
Looking at the kind of side business you run, can you point out your most valuable skills? Time to delve deeper into them. Master them, and treat them like life-saving skills.
They might just save the life of your side business.
Doing more analysis than you’re comfortable with
Business is about doing more of what works and less of what doesn’t. How do you find what does or doesn’t work? It starts with analyzing the bones out of what you do.
All outcomes aren’t the same. All numbers don’t carry the same weight. All clients don’t hold the same value. All trends don’t work the same way.
You’ll find many different examples of these alternatives. The best way to get that clear picture of what works and what doesn’t work is to put your analytical lens on and enjoy those deep dives.
Many people are uncomfortable with that. But you can’t be one of them if you intend to build a better side business. Zoom in on what works best. Not to ignore the rest, but pick what works best for you and do more of them.
That comes from several detailed analysis of your process. Warning, some of it might cause you to cring.