How To Turn An E-commerce Side Gig Into Real Business And Stay A Step Ahead?

The working approach has changed with time and people these days no longer have to rely on a 9-5 job to make a living and build a successful career. There are many ways to earn a living like, creating your own company, selling  products and providing valuable services to customers from anywhere in the world.

There is no better time than now to start an e-commerce business and let us tell you, many people have already taken their side gig off the runway along with their regular job.

But, turning your e-commerce side gig into a real business is easier said than done. A blend of luck, strong promotional strategy and motivation is what you need to turn your dream into reality.

Apart from that, there are a number of tools, such as podcasts, blog posts, social media and other resources to help you create an e-commerce shop while you hold on to your day job. But, even with these tools, is it really possible for you to turn your side gig into a profitable and sustainable full-time business? Of course it is, but it’s definitely not a piece of cake!

In order to help you stay a step ahead in turning your side gig into real business, we have listed some tips and ideas that most successful entrepreneurs have taken in stride and made it work for them!

·       Choose Something Different

It is not easy to run an ecommerce business with similar products in the market because customers would not rely on your product or service easily if competitor is already offering it. It’s not necessary that all the side gigs will be great as a real business, so you must go for something that you are good at. But it also needs be scalable so that you can develop your business and profits with time.

Turning your side gig into real business not only requires your time, but also your attention and hard work to perform tasks that will deliver results. Not to mention, having a team of dedicated individuals is a must to help you with your tasks.  If you’re dealing with your side gig and full-time job at the same time, needless to say that it takes a lot of efforts to run a successful business. If you don’t have sufficient time and the necessary skills to handle every facet of your business; you should employ someone to assist you expand it.

·       Maintain The Balance

To successfully turn your side gig into a real business and become a successful entrepreneur, you have to find the balance between being thoughtful and executing ideas before giving it a kick-start. We often hear from successful entrepreneurs that every action has to be executed perfectly – be it brand, product, packaging, website or customer service in order to be successful in your venture. But, most of the big-brained and successful people have forgotten their actual path to success. It is a proven fact that many successful entrepreneurs started out from scratch and so can you.

Turning your side hustle into real-time business or creating a brand is about finding the perfect balance between perfection and doing things without breaking stuff. If you’re not doing things right it means you’re going too fast and if you do everything with perfectly, that means you’re going too slow. We know maintaining this balance is difficult, especially if you’re new to entrepreneurship. So take advice from experienced and seasoned entrepreneurs and mentors to ace at it.

·       Build Networks And Keep Bridges Intact

If you really want to turn your side gig into real-time business then the most important step is to build and grow connections. If you don’t build connections with your clientele and customers then people wouldn’t recognise you after a certain period of time. Have an ongoing relationship with them along with a strong network of people who can find referrals for you to expand your business for a venture. You never know when can people that you’ve worked with in the past will be in a position to help you in the future.

There are many ways to build networks and meet others in your industry. Read blog posts that fall under your business niche, engage with them on social media, join a group or community to reach out to such people. Also, you can attend several group discussions and events correlated to your side gig or even go for local meetups. Creating a solid network with people will really help you expand your business over time.

·       Be Specific About Your Needs

Earning money from your side hustle is not the only thing; you also have to put in some of your earnings back into it by outsourcing. Look out for areas that need to be filled to grow your business without your involvement. For instance, if there is anything that you don’t like to do or just aren’t good at then hire someone who can do that easily.

Your participation in your business is very important, but if the business cannot work without your presence; then chances are you’ve built a more stressful job. By outsourcing your earnings in such things you can focus on the bigger picture and move your side hustle along. To fulfil your needs, you need to find investors who are interested in your side gig and approach them with a plan that will make them invest in your venture.

Even though you’re unable to get funding from investors, try to find some ways through which you can raise your revenue. We know it isn’t easy to give up control of something that you’ve built, but when required, outsourcing can really help you grow your side gig and make transform it into a full-time business.

·       Chase Your Earnings

The main factor that’s likely to stop you from turning your side gig into real business is funds. Initially, it can be difficult for you to leave your comfort zone and get into an e-commerce side hustle completely. But, once you decide to push yourself, it’s completely worth it. You have to first ascertain how much money you’ll require to run a success business.

While waiting for the profits to come from your side hustle, it’s important to have a side plan for emergency funds. Find the amount of money you need to keep it on track, and then start tracking your income each month and setting goals. Setting clear goals for profits can motivate you to start implementing strategies that will raise your profit.

Once you start keeping a record of your profits, you’ll be able to concentrate more on raising it and ensure that you are saving a reasonable amount as well. The business income may vary from one month to another, so you need to save adequate amount of money for emergency.

·       Plan Further And Stay A Step Ahead

E-commerce business is an extremely saturated and economical industry; one cannot just sit on the chair and let it run itself. It’s you who has to think ahead and prepare yourself to survive. In e-commerce industry, there’s no such thing as a sustainable competitive advantage, every successful niche or product will inevitably attract competitors over time. So you have to plan further and prepare yourself for such things.

According to Linda Bustos, Cofounder of Edgacent, “As an entrepreneur you should ensure that your plan and strategy continually stays ahead of the curve, or plan for a quick exit strategy when your business is at its peak.”

If you find yourself stuck somewhere with your side hustle and would like to take it a step ahead then seek assistance from a mentor or coach. They can assist you in setting realistic goals and hold you closer to them. But, choose a mentor or coach who has years of experience in your business niche because they’re the ones who might be able to offer their valuable personal experience and insights regarding the struggles and visions for your business.

Running an e-commerce side gig in this competitive world is not easy and turning it into a real business is even more difficult. However, by implementing the right ideas and strategies, it’ll not only help you set up a business, but also ensure that it’s running efficiently. Do take a look at these tips to kick-start your e-commerce side gig and turn it into real-time business!