With new frontiers opening post-Covid, the time is NOW to to rev up your side hustle and turn it into a career. Our insiders recommend 5 ways to go about it – read on.
1. Be Your Own Hype Man
It’s no secret that many use social media to search for products and services.
SEOtribunal (2019) found that 97% of people learn more about a local company via the internet. 88% will either call or visit the business within 24 hours after searching on a mobile device.
Hence, insiders make it a point to set aside marketing budget for brand awareness and customer conversions. How much? We recommend speaking to seasoned practitioners to get a sense.
2. 5-Stars For You!
How many of us have bought something because of a good review? You are not alone. Brightlocal reported that 76% of consumers turned to online reviews when browsing for local businesses.
Consumers tend to trust online reviews as much as personal recommendations.
Why not invite customers to provide reviews? Then, post them on your website and social media to build credibility with customers.
3. Spot Trends
How does new technology affect your business model? How about the way you deliver your customer value proposition?
In a fast-evolving economy, keeping pace with change is tough. Freelancers and micro-businesses have it tougher because of limited time and resources.
To lighten your burden, tap on like-minded communities for insights on trends. NTUC’s Visual, Audio and Creative Content Professionals Association (VICPA) advances the interests and prospects of creative freelancers and entrepreneurs. VICPA also supports their professional development and well-being.
Follow us on IG: @vicpasg
4. RE.V
Re-evaluate your Value. How are you measuring your contribution to your customers’ business outcomes?
Knowing your worth gives you the confidence to walk away from a lopsided project.
It also offers you a different perspective of how you could price your services. Rather than adding profit margin to your costs or matching your competitors’ pricing without sound basis.
5. Chart Your Next Move
Making the switch from side-hustle to freelancing business takes courage and good planning.
Set aside funds to cover your operating cost while awaiting your first “paycheck”. Be prepared to tighten your belt as it might be challenging to pay yourself a salary for the initial months.
Seasoned practitioners from VICPA could also offer you a sense of what to expect.
Conclusion
Becoming your own boss is a big step. Get expert tips and insights at VICPA’s 101 Bootcamp for Microbusiness Entrepreneurs.
Held on Feb 20, 2023, the bootcamp is from 2pm – 7pm at NTUC Centre, One Marina Boulevard. Included in the bootcamp is an industry networking segment from 6pm – 7pm.
Sign up NOW at bit.ly/vicpabootcamp.
