02 Jun Do you need a side hustle?
We are living in a world that is changing from brick-and-mortar to click-and-order incredibly fast. In fact, if you don’t work for a company that offers online sales, better get your resume updated now!
At the same time, the number of side hustle businesses is also growing. If you don’t have a side biz and get downsized, what will you do to stay afloat?
There are literally thousands of side hustle businesses you can start while keeping your current day job and only adding a few hours per week, but I recommend you choose carefully.
One of the easiest side hustles you can start is an independent distributorship with a direct selling company. Low buy in. Low risk. High potential for reward. Total flexibility. Complete business plan provided. etc.
Here are 10 things to look for, assuming that they already have an online presence you can use, and almost all do:
- How long have they been open? 5 years should be minimum to prove they are stable.
- Are they publicly traded? Check the last 5 years of stock performance for growth or decline.
- Are they listed on the Direct Selling News Top 100? Is their gross income moving up or down in the past few years? It’s not all about the ranking, but the steady growth that is important.
- Do they have products or services that you will use and can feel good recommending? You will need to be a product of the product to maintain integrity.
- Do the products or services satisfy a genuine need in the market or are they trendy fads? Think long term, not quick and flashy.
- Are the products something that will sell once or consumables that will create repeat sales?
- Does the business plan make sense to you or does it feel too complicated? You will need to be able to explain it to others.
- Does the company have a mission and vision that matches your own beliefs and core values?
- Are the leaders of the team people respect and admire? It’s not good enough to be jealous of their income.
- Does it seem like this will be fun or just more work? I firmly believe that if it ain’t fun, you won’t do it for long no matter how much you make.
Starting you side hustle with a direct selling company can be a great decision, but make sure you treat it as a business, not a hobby, if you want to make real income. I’m here to help, if you have questions.