Side Business

I’m here:
You’re looking for supplemental income while maintaining your full-time job. It’s a way to diversify income without giving up stability.
Example: You might have a 9-to-5 job but run an Etsy shop selling handmade crafts or offer freelance writing services in the evenings. The goal is often to generate extra income to cover expenses, savings, or pursue a personal passion.

Features:

• Time-Constraint: Limited time and focus because you’re juggling a full-time job and your side business.
• Low Risk: The main source of income is your job, so the side business doesn’t carry significant financial risk.
  Example: An IT professional might create a small app as a side project, but doesn’t need it to succeed financially since they already have a steady income.
• Gradual Learning: You can slowly experiment, learn, and improve your business model without immediate pressure.

Slogan:
“Discovering & Learning”
You’re learning about business without putting everything on the line. It’s an exploration rather than a full commitment.

Pros:

• Low-risk entry: You can test business ideas without losing your job security.
• Skill Development: Build entrepreneurial skills or experiment in a different industry without taking big risks.
  Example: A graphic designer starts freelancing on the side, gradually building clients and improving their design business.

Cons:

• Limited Time & Focus: Divided attention between job and business can slow down growth.
• Growth Cap: Without full commitment, the business might hit a plateau and remain small.
  Example: Someone running a side business selling baked goods may find it hard to scale without quitting their main job.

Target Or % Increase / Period:
“Only Know How To Get Customers Up To A Certain Target”
The goal is typically modest, like securing a certain number of customers to generate a specific side income, e.g., 100 customers a month.

Investment Level:
Low investment – You likely use personal savings, time, and effort to build a small side project.
Example: Starting a side blog that generates ad revenue with minimal upfront cost.

Workload:
Part-time or as-needed – Since it’s not your primary focus, you work in your spare time or during weekends.

Exit Strategy:
No exit strategy – Most side businesses don’t plan to sell. It’s more about extra income rather than building something to pass on or sell.

Risk:
Low risk – Failure doesn’t impact your overall livelihood since your main job is still secure.

Customer Base:
Small and niche – Often local or very niche-focused, depending on your free time to reach customers.
Example: A teacher runs online tutoring sessions after work, only targeting students from nearby areas.