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Finances
Side Hustle
You might find from your budget and runway calculations, you'll need to make some extra money along the way. Entrepreneurs often call this our 'side hustle' and it's a common thing to do. There are many ways to make some money from driving for Uber or Lift, delivering food, or selling a service such as mending clothes, landscaping, teaching music, teaching a sport, or tutoring.Think about what you are really good at and how you might make some modest money in your off hours.There are also ways of skimming a few dollars here and there with tricks and financial savvy. Examples are refinancing your home, selling off junk you've been holding on to,sell that extra vehicle, secret shopping, giving reviews, etc.
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TASKS CARDS
Do First
You should complete the following tasks before proceeding to the current one.
Create a Personal Budget
One of the biggest stressors of beginning is worrying about money. To move forward, you need to know where your money comes from and where it goes. The best way is to use a personal budget for all expenses and income. You can make your own or adapt a template. This step will take a few hours to gather information. You will need to revisit this throughout your journey as personal expenses and income can vary and change throughout this process.
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Runway
Entrepreneurs need a 'runway' to focus on their business. You can work full-time or part-time as you grow but there are times you might have to go all in. Knowing how long you can sustain your living expenses on just saved reserves is important. Most advisors suggest 18 months worth of runway. If your business is struggling don't use up all your runway before you start looking to get back into the workforce. Give yourself 3 to 6 months to re-enter.
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Small Business Marketing 101: Using Email, Social, Video and More
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Don't stop now! Just pick the very next stage-card that resonates with your business and continue working on the correspondent tasks.
