When did just getting by get so expensive? As the cost of living continues to escalate, it can feel like out meager wages simply aren’t enough to help us get by. It can be extremely frustrating, even if you’re pulling down all the overtime your boss deigns to throw your way. If only there were some other way to make money, without having to subsist on the scraps from your boss’ table. Of course, in the digital age, there are many ways in which we can earn a little extra money on the side through our side hustles. A side hustle can be anything from your blog or your YouTube channel to selling your artwork on Etsy. In the digital age, as long as you have a marketable skill, your only limit is your imagination and the talented have more outlets than ever through which to monetize their talents.
It’s not uncommon for those with side hustles to want to see them develop into something altogether more… more. Thus, many a side hustle has evolved into a thriving home business as their proprietor has devoted more and more of their time and energy into their side hustle. Ands why shouldn’t they? It makes them a tidy sum which helps them to grow their income, and it affords them a whole lot more pleasure and fulfillment than the day job. Why shouldn’t they ditch the dead weight and devote themselves to their business full time?
While this is an admirable pursuit, it’s important to make this momentous decision with growth in mind. Your side hustle may be profitable on the side of your full or part time wage, but can it sustain your lifestyle on its own? Is there scope for your business to expand? Do you have a renewable base of consumers? Do you have a strategy for how your business will not only sustain itself but thrive over the next 6 months, 12 months or 5 years? These can be difficult questions to grapple with on our own. While we may have the talent and self determination to make your side hustle blossom into a business, you’re going to need some help converting your modest side hustle into a thriving enterprise…
Why you and your home business need a team
The hallmark of a good business owner is finding the balance between believing in one’s self while remaining amenable to help, advice and creative input. If you attempt to make a living from your side hustle, like it or not, you’ve just become an entrepreneur. To become an entrepreneur requires a certain set of skills and disposition. You need to have dogged determination and belief in your enterprise and your skills. However, even if your business knowledge is also comprehensive, you’re bound to have blind spots. You need to surround yourself with people who will challenge you and your ideas. Living and working in an ideological echo chamber is rarely conducive to long term success in business.
You need to surround yourself with people whose experience and skills complement yours. While you may know your product inside out and have a very specific vision for what you want your business to be, you may lack the working knowledge and experience to make this happen. Plus, you’re only human. There’s only so much you can realistically dedicate to your enterprise without burning out. Trying to do everything by yourself will likely impede your output which will stunt your growth and limit your new business’ capabilities.
Thus, it’s crucial that you build a team for the sake of your enterprise’s future. But what team? You likely won’t feel comfortable in entrusting the future of your business to relative strangers whom you’ve met on LinkedIn. While you may have several friends or colleagues who may be willing to join your team, they may lack the skills and experience that you need for your business to thrive. Plus, the last thing you’d want to do is strain your friendship.
If you want to build a team for your home business but aren’t quite sure how, here are some pointers to get you started.
Assembling your team
From the Magnificent Seven to the Avengers, all of the best teams bring complementary skills, experiences, perspectives and attitudes to the table. There may be debate and even friction among them, but that’s the price you pay when you take on the task of the social alchemy that is building a team.
Before you start posting job ads online, you need to decide how many members you want on your team. This will depend on how many you can afford to pay, and how broad a range of skills your business needs. The size of a team can have a huge effect on productivity, as well as creating a sizeable overhead for your nascent business. Next, ask yourself what function each member of the team needs to have. The more discrete a function each member of your team has, the less chance there is of redundancy for any one member of the team.
When it comes to interviews, some entrepreneurs like to conduct interviews as problem solving workshops to see how prospective members of the team can work together. Make sure you clearly explain your goals and long term strategy for the business as well as making clear where you see their role in facilitating that success.
Getting the best out of your team
Of course, it’s not just enough to build a great team. They need to be properly motivated and incentivized to be a great team. This means not only bringing their A game to work every day but working together cohesively for the good of the enterprise.
This is why team building activities and courses are a great investment. Check out some great examples at https://www.ej4.com. A team is rarely cohesive when they don’t get along or respect one another’s skills and attributes. Thus, as the leader and the figurehead of the business, it’s important to create a sense of cohesion and unification so that everyone can feel like they’re pulling together for the good of your business.
Show your team that you’re prepared to entrust your business with them, show them that you genuinely care about them and are happy to invest in their training and professional betterment, and they’ll rally behind you and help your business grow from strength to strength.
About Jammie Morey
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