The Simplicity Lifestyle Guid To Setting Up A Small Business
The Purpose of The Simplicity Lifestyle is to Create a Joyful Life that aligns with Our Core Values and is Simple, Creative, Productive, Meaningful, and Fulfilling.
The Basics Of The Simplicity Lifestyle are...
-Minimalism...
Less is more because if We’re happier with less it takes less to make Us happy.
-Health...
Physical health, mental health, emotional health, and financial health.
-Passion...
Create a Goal that aligns with Core Values, make an actionable plan by having smaller sub goals that will lead to the main Goal, and take action by accomplishing one sub goal at a time until the ultimate Goal is reached.
An entrepreneur is someone who has an Idea and who works to create a Product or Service that people want and will buy, as well as a Business to support that effort. An entrepreneur takes on most of the risk and initiative for their new Business but they also get most of the reward. They get to call the shots. There’s something new and exciting every day. There’s a certain amount of freedom. They don’t have to sell their time for a wage, which is good because time is Our most precious scarce resource. Lastly, entrepreneurs are free to be themselves and live the lives that they design and aligns with their Core Values.
Many people start Side Hustling to stay afloat and those Side Hustles sometimes grow into truly lucrative Businesses.
(Let’s face it, prices are going through the roof and inflation is in full tilt right now. If We are already living paycheck to paycheck this wave of inflation could topple Our boat, so naturally We have to start looking for solutions. I’m not saying this to spread fear or discontent, rather, I’m just pointing out the obvious and maybe coming up with some good ideas about how to stay on top of the problem. After all, as one of my Patrons, your success is my success.)
Others start Side Hustling because they have a passion that they would like to eventually turn into a legitimate Business that can support their lifestyles.
Starting a Side Hustle Business gives Us certain lifestyle advantages, like Independence, financial rewards, learning opportunities, creative freedom, and personal satisfaction.
What ever the reason, starting a Side Hustle Business is a good way to make extra income, escape the nine to fives, and be Our own bosses without having to take huge risks.
If you’re asking yourself, “What can I do that is most profitable for a Side Hustle business?”
Here are some Side Hustle Ideas...
-Start a Drop Shipping Business...
There’s no need to buy inventory upfront or storage. It’s easy to get set up. There’s low overhead costs. There’s flexibility and a wide array of products. It’s easier to grow your business.
-Start a Wholesale Business...
Wholesalers are able to sell their products for a lower price as they are selling in bulk, which reduces the handling time and costs involved. Wholesale businesses usually provide large quantities of goods, but can take on orders for smaller quantities as well.
-Work as a Freelancer...
Freelancers can do content writing, social media marketing, photography, graphic design, web design, teaching, web development, and anything else other people don’t really want to do.
-Become an Affiliate Marketer...
With most jobs, you get paid when you work. You have to be actually present at work to earn. Once you have established your Affiliate Marketing Business, you will start to generate passive income. It’s possible to earn money on products that you recommended months ago.
-Launch a Print On Demand Store...
You can create products quickly. Once you have the design, you can create the product and put it up for sale in minutes. Shipping orders are taken care of. Shipping and fulfillment is out of your hands and into your suppliers. Low investment and lower risk.
-Start a Blog...
You can drive traffic to your website. You can re-purpose Blog content for social media. It helps convert traffic into leads. It drives long-term results. Blogging helps with link building. It drives long-term results. It helps you provide value by sharing solutions to problems.
-Become a Social Media Influencer...
Influencers offer an ideal way for businesses to meet new customers, raise brand recognition, and boost conversion via your daily engaged content and Unlimited sharing potentials for your fans.
-Sell Information Products...
When you make an online course you make an impact by reaching a wider audience. You have greater chances of expansion and increasing your audience. You can earn a passive income. You can easily manage the courses. You have geographical independence and flexibility of time. There is no physical material, extra costs, or paperwork involved, and the startup costs are very low.
-Offer Virtual Assistant Services...
Life has become too hectic, rushed, and crazy for many people, you can help them by becoming a virtual assistant.
-Selling your own Hand Crafted Products...
I sold scarfs in college, crocheting kept me from getting too bored during lectures and people seemed to appreciate them during the cold Connecticut winter.
-Selling Digital Information Products...
Like This extremely informative, valuable, and well written material.
If you’re still not sure what you want to do for your Side Hustle you can...
-Make a list of what you’re interested in moonlighting as. This could include interests, hobbies, passions, and special skills. (musical skills, artistic skills, dance skills, math skills, writing skills...)
-Decide early if you will invest money.
-Make sure there are no conflicts of interest with your Job and your Side Hustle.
-Schedule time for your Side Hustle because We only have twenty four hours in a day.
-Don’t forget about your day job because Our bills aren’t going anywhere.
Before creating your Business Plan...
-Strengthen and secure your ideas by doing market research and seeing what others are doing in your niche market.
-Communicate your vision, set goals for your company, and set out your mission statement. (The Simplicity Lifestyle’s mission statement is to Create a Joyful Life that aligns with Our Patron’s Core Values and is Simple, Creative, Productive, Meaningful, and Fulfilling.)
-Know when the right time to take risks is. Assess the pros and cons and make the right decisions for your business.
-When you feel it is time to start a new venture look at your options, is it time to transfer, sell, or close? (This is called an Exit Strategy and it’s good to have especially if you’re in a Partnership with another entrepreneur.)
Now that We know what kind of Side Hustle Business you want We can make the dream into reality!
Time to...
-Make a Business Plan by filling in the provided Business Plan Template.
-Create a Startup Cost Budget...
Create an LLC or Sol Proprietorship- Do an online search about your States Regulations and Laws and get the proper State Certifications for your business.
Create a Website- A good domain name can drive traffic so try to snag yourself a good one.
Set up a Business Bank Account and Find a good Accountant- Good accounting is one of the most important and serious things in business.
Considerations Before Drafting A Business Plan
Mission
What is your why?
-Who do you serve?
-How?
-What makes you different?
-What is your highest vision for your business?
-What is your highest vision for yourself?
Business Goals
How will you achieve your mission?
-What are your specific, measurable goals, including revenue targets.
-How will you lead with your strengths?
-How will you reach your clients?
-How fast do you plan to grow this year?
-Who can help you? (Internal and external resources)
Income Projection
How will you earn money?
-How much revenue do you want to earn?
-How much do you need to charge to get there?
-Will you charge per hour, unit, project, or retainer?
-What are your business’s current income streams? (services, products)
-What are your business’s future income streams? (consulting, teaching)
Cost Projection
What expenses will you incurred?
-Will you hire staff?
-Do you need to buy raw material?
-Do you need office supplies?
-Do you need a Website?
-Do you need marketing or accounting expertise?
Personal Growth
How will you invest in yourself?
-Skills training
-Credentials
-Networking events
-Public speaking opportunities
-Publish your expertise, Social Media content
-Now you can Get Stoked because it’s time to take action and change your life!
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