Fundamental Tips on Starting a Business From Your Freelance Hustle

So you have a freelance hustle that has become your passion. Maybe it’s even become lucrative. Now, you’re thinking about turning it into a full-fledged business.

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Many successful businesses have begun as side gigs. One reason is that passion plays a critical role in long-term success and happiness. When you love what you do, you typically have the drive necessary to persevere through hard times and capitalize on opportunities. 

While starting a business out of your freelance hustle might be a great idea, it’s essential to go about it the right way and lay a solid foundation. From going over your finances to working with Oevae Marketing Consultants to building your online presence, here are a few ways you can prepare:

Prepare your finances. 

First things first: You must make sure your business idea can make money. You don’t want to throw a bunch of money into it upfront — and you definitely don’t want to quit your day job, unless there is a pathway to success. Research your industry and local market to get a feel of what demand is like for your product or service. Also, try to conquer any debt that can harm your business venture, and consider saving up at least six months’ worth of living expenses before quitting your current job.

Here’s another critical consideration: Your business won’t survive without cash flow. You must get paid for the work you’re putting in. That may sound obvious, but it’s a challenge that many small businesses face, especially newer companies. Take time to review guides to learn the ins and outs of the invoicing process as well as best practices. For example: when is the best time to send invoices? What are the different types of invoices? How can I get paid faster on invoices? To ensure that you can keep up with balances owed, even when you’re extremely busy managing your business, you may find that one of the easiest and most cost-effective ways is to use a free invoice generator to prepare and customize invoices. By staying on top of such a critical component of your business, you’ll keep a better handle on your cash flow to ensure it stays at a healthy level.

Learn more.

You may know quite a bit about your freelance hustle and the industry it’s in. But if you want to excel, it’s time to dig deeper and acquire as much expertise as possible. Consider whether you could benefit from getting an online degree in your field, especially since going back to school is now more accessible and affordable than ever.

Also, find a mentor who has ample experience in the industry and who can help you navigate current and future challenges. Find online resources that can help you with the research to guide you through the development of your business. Teach yourself a lot by reading every notable business book you can get your hands on.

Know your market. 

Yes, you’ll want to research your market to determine whether or not your freelance hustle can produce profit as a business. But you also want to research to figure out what your selling points will be to customers and clients. Chances are you will be competing with hundreds — or even thousands — of freelancers and businesses in your field. The extent to which you can set your company apart from them will play a major role in your short-term and long-term success. 

Prioritize your online presence.

Finally, focus on building a solid online presence. If you create a quality website, engage on social media, and list your company on Google My Business, much of your marketing strategy will already be in place. Maintaining an online presence is essential, whether you provide your products or services via the web or a brick-and-mortar location. 

If you’ve decided to go all-in on your freelance hustle, it’s time to hit the drawing board. Be sure to put yourself in a good financial position and learn as much as you can about your field. Do plenty of research in your market and focus on building a great online presence. Implementing these tips will help you lay a foundation for a business that succeeds for many years to come.

Make a brand difference.™

How To Be A Marketing Maven On A Minimal Budget

 

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Marketing your business may sound like an expensive endeavor. And, it can be. If you have grand ideas that involve television, billboards, or huge events, you can expect to spend thousands upon thousands of dollars. But, not all of us have a corporate-level budget. Oevae Marketing wants to help you succeed, so here are some great ways to jumpstart your efforts.

Keep Email Marketing In Mind

Email marketing remains one of the most effective ways to reach your customers. Contrary to popular belief, email is not dead, and more than eight out of 10 adults report logging into their inbox regularly. 

Oevae Marketing’s affordable email marketing starts at just $9.99 per month for up to 5,000 emails. Something to keep in mind here, however, is that you have to mind your manners. Ask permission before adding anything to your customers’ inboxes. When they give you the okay, as Forbes recommends, make sure to provide exceptional content. Coupons, special offers, and interesting information are usually welcome; generic sales pitches are not.

Make Your Presence Known On Social Media

Before there was email and before there was television, most municipalities had a town crier. This is a person who would stand in the square and shout the news. Social media is the town crier of today. But, instead of a single promoter, you have billions of people sharing information, reviews, and events. Learn how to utilize social media to capture your customers' attention. Targeted ads are often inexpensive and, although you may not reach a huge number of people, those that you do reach matter. 

A word of advice, whether you are working with emails or social media, is to invest in and understand cybersecurity. Both of these platforms frequently ask your customers to input information, and you want to be able to protect them and yourself from identity theft and digital data breaches.

Design and Distribute Infographics

If you’re handy with design, you can quickly, easily, and cheaply create infographics. These are essentially pictures that clearly outline an idea and relay information. Visually appealing infographics are shareable and will draw attention to your brand.

Claim Your Listings

Yelp, Google, HomeAdvisor, and other platforms offer free or low-cost listings. Claim them, and use them to your advantage. Google My Business, for example, allows you to post content, such as daily menus, a quick link to Google Maps, one-click calling, and special events that customers can see directly from their Google search.

Create a Podcast

Podcasts are an easy and effective way to keep your name in front of your customers. Basically, this is a digital download or live stream that people can subscribe or listen to at their convenience. A podcast requires a computer, microphone, and something to talk about. Find out what your customers want to know, and record valuable information on these topics. For example, if you are a dog groomer, consider a weekly podcast on how to keep your pet clean and healthy. Launching a new show is not that difficult, but Big Podcast recommends doing some research on which platforms you’d like to publish your podcast.

It’s a common misconception that you have to bottom out your bottom line just to get your name out into the public’s eye. While there’s nothing wrong with large-scale marketing, starting small can have big effects. It takes work, and to save the most, you’ll need to DIY. But, it’s an effort worth the time and energy. The above ideas can get you started but don’t be afraid to get creative. Remember, anything that puts your name in front of your customers is a smart part of your marketing plan.