Its a new year and with that brings new opportunities. We now live in an era where we see more and more people getting rich from a simple idea. More people are becoming business owners at a very fast rate. Yet many people are afraid to take the leap of starting their own business. They are probably already working a steady job that provides just enough to support their family. Leaving a full time job to follow their dream can be very scary. Just in case your were wondering; there is a solution to that. Learning how to start a business in 2023 should be on your to-do-list this year.
So, the solution is to start a side hustle. What you may not know is that many businesses started off as a side hustle. A side hustle gives you the opportunity to keep your 9-5 job while working on your own business in your free time. Your goal should be to work your business and build it up to replace your day job. Now, you may be like many people and you want to start a business but is clueless what you want to do; then a a side hustle would be perfect for you.
What comes to mind when you hear the term “side hustle”? You are probably thinking along the lines of washing your neighbor’s cars, mowing the lawn or delivering the newspaper. Although those are reasonable ways to make some extra money, There are better and easier options. The best part is, you can do them for the comfort your own home or anywhere really. All you need is internet access. If you have internet access then you can creat passive income.
Choosing the right Side Hustle for you makes a world of difference. If you are already working a 9-5, you may want to choose something that does not take up a lot of your time. Something you can set up and once its set up, it can function without you always having to be hands on. One of the best options is to start an online business.
How To Choose business.
You want to know how to start a business in 2023 and this is how you choose a business. Start with something that you enjoy doing, maybe a hobby. Then do some research that hobby to see if there is a high volume of people interested in learning about that hobby as well. If there is a high volume of interest, you can then create a product, an Ebook, or a course to market towards that group of people interested in that hobby.
However, if that hobby doesn’t have a high volume of interest, then move on to something else. You can create a product on something that you have no intetest in. Think about your favorite donut shop. Now imagine if the owner doesn’t like or even eat donuts. But this owner knows people loves donuts. So as long as the donut tastes good and its marketed to people who loves donuts, this business will be profitable. The best part is, you will probably never see the owner working in that donut shop. You can use this concept with providing a product or service in a market that you may not be interested in. Simply figure out what your potential customers are searching answers for, invest in yourself to learn about that industry, then use that knowledge to create a product or service and market it to that industry.
Set Your Business Up From The Very Begining.
It is best to set your business up from the begining. I know earlier I said you can start a side hustle. This is not an excuse to treat it as such. Start your side hustle off on the right foot from the very begining. This means, set your business up as if its a real business. Treat it like a real business with a real business structure. Ensure your business is a legal tax paying business. Hint: the tax laws are set up in a way to favor businesses over an individual. This means most of the expense from your business is tax deductible. This can include, meals, travel, and supplies for your business. While some of these same expenses as an individual are not deductible. Disclaimer: I am not a tax expert and cannot advise you on taxes, please seek a professional tax advisor.
Taking The First Step To Start A Business.
Taking the first step is making sure your business is properly structured. If you need help setting up a proper business structure check out this how to guide. https://dreamstorichesblog.gumroad.com/l/ZwNFL
Like I have mentioned before, treat your business like a real business. Follow the above link to take the first step to doing so. It will teach you how to start a business in 2023 and how to set it up with the proper business structure. Then build it up in your free time. Treat your business with passion, love and most importantly, consistency. Be consistent with building your business. Before long you could be typing up your resignation letter and working for yourself. If you are serious about starting a business, let this be a sign. Write your resignation letter today and hold on to it. Use it as a reminder to be consistent with building your business. Leave a comment below if you are ready to write that letter and hold yourself accountable and remember to follow this blog for more articles like this.