3 Side Hustle Secrets to Reach a 6-Figure Income

Embarking on a side hustle journey entails its fair share of challenges, living up to its name as a constant hustle that may take time to yield substantial returns.

A recent 2023 Bankrate survey revealed that one in three side hustlers seeks additional income for daily living costs, showcasing the prevalent need for supplementary earnings. With 39% of U.S. adults engaged in side hustles, the demand for effective strategies to enhance these ventures is more apparent than ever.

Having initiated my own financial education side hustle in 2020, motivated by the desire to cover daily expenses and start saving for retirement, I understand the dedication required to transform a side hustle into a thriving business. Here are three invaluable tips to elevate your side business, drawing from my experience of scaling up to a full-fledged business within four years.

1. Harnessing the Influence of Press Coverage

Establishing credibility and expertise can be resource-intensive for new business owners. While social media is a primary tool for brand awareness, the power of traditional press coverage should not be underestimated. According to SCORE, 77% of small businesses leverage social media, but an often-overlooked avenue is traditional media outlets.

Rather than solely relying on self-promotion, approach news outlets with compelling story ideas related to your side hustle that would captivate their audience. My breakthrough came through a national story that shared personal success: "How we ditched $300,000 of debt in 3 years: Small wins help achieve a big dream." Securing press coverage not only validates your business but also strengthens your brand image.

2. Targeting Real Customers, Not Just Potential Clients

A common mistake among new entrepreneurs is treating everyone they meet as a potential customer. However, the key distinction lies in identifying individuals willing to pay for your services. A strategic approach involves introducing a low-priced offer to gauge genuine interest.

By presenting a $7 offer to my audience, I could differentiate those genuinely interested in my services from mere followers. This method efficiently filters potential customers and focuses on those more likely to invest in your full offerings, contributing to sustained growth and profitability.

3. Embrace Repetition in Messaging

The marketing rule of 7 emphasizes the importance of repeated exposure for potential customers to recall and engage with your business. In my experience, this rule leans more towards 10 or 12 repetitions to leave a lasting impact.

Consistent repetition on various media platforms is essential not only for reinforcing your business identity but also for clarifying your unique value proposition. Don't shy away from repeating what your business does and whom it serves, as this repetition fosters brand recognition. Think of it as the catchy chorus of a hit song – the more your audience hears it, the more ingrained it becomes, increasing the likelihood of recall when they require your services.

In summary, unlocking the potential of your side hustle involves strategic press outreach, targeted customer identification, and relentless messaging repetition. These proven strategies can propel your side business to new heights, making it stand out in the competitive landscape while laying the foundation for a successful and lucrative venture.

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- Photo by Vlada Karpovich