{"id":24466,"date":"2023-06-19T07:03:35","date_gmt":"2023-06-19T11:03:35","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/these-5-tips-turned-my-side-hustle-into-a-500000-business\/"},"modified":"2023-06-19T07:03:36","modified_gmt":"2023-06-19T11:03:36","slug":"these-5-tips-turned-my-side-hustle-into-a-500000-business","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=24466","title":{"rendered":"These 5 Tips Turned My Side Hustle Into A $500,000 Business"},"content":{"rendered":"
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Recently, 59% of small businesses reported being in fair or poor financial condition, according to the Federal Reserve Banks\u2019 Small Business Credit Survey.<\/p>\n

Despite the economic environment, my financial education company just crossed more than $500,000 in revenue with upgraded services I originally offered for free.<\/p>\n

Here are five tips to help you start monetizing your knowledge as a side hustle.<\/p>\n

1. Pick Just One Social Media Platform And Double Down<\/h2>\n

The average American spends about 145 minutes on social media every day. I coach a lot of entrepreneurs who say they hate social media, or feel overwhelmed by thinking they have to be everywhere online.<\/p>\n

Rather than try to be on all the social media platforms, pick the one your audience most frequents and choose consistency over omnipresence. An active social media profile circumvents the need to build a website and allows you to share with your existing professional network quickly when you\u2019re in your growth phase.<\/p>\n

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The first meetings I charged were for requests to help people with their resumes. I started posting weekly tips about writing resumes and interviewing on LinkedIn to let my network know that I was willing to share knowledge on this topic.<\/p>\n

Then once a month, I also included a call to action in my posts to encourage people to reach out via e-mail or direct message if they personally wanted help with their resumes. I only started posting to Instagram and Twitter when it made sense with my offerings.<\/p>\n

2. Don\u2019t Charge For Your Time<\/h2>\n

As the expert, you are unlikely to pay for this service, since it\u2019s something you probably do more efficiently than most people. This is the step where most people get stuck because there is a propensity to base the pricing off of what you would pay for it.<\/p>\n

Instead price the financial benefit of the problem you are solving by considering:<\/p>\n