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Okay great, you started your side hustle so you can make some extra money. The problem is, it’s not making any, it may even be costing you. Most side hustles do not earn right away and it is possible to attempt monetization too quickly. Read about common pitfalls here:
Common Pitfalls to Monetization
- Trying to monetize too early: Of course the whole point of your side hustle or new business is to make money, but don’t get too eager. In most cases you need to become established first for side hustles like blogging, influencing, or affiliate marketing. Instead of spending your efforts applying for monetization programs only to be rejected, focus your initial efforts on high-quality content and marketing yourself. Once you have a good amount of content and people are reading or engaging with you, that’s your time to monetize.
- It’s not all about money: Be sure to choose something that gives you a sense of fulfillment and enjoyment outside of the financial aspect. You want to be able to stay engaged during the initial start-up period without giving up. It’s also important to have integrity and stay true to yourself, so make sure your side hustle aligns with who you are and provides value to both yourself and others. It’s important to leave a positive impact on the world in addition to chasing money.
- Not asking for a referral: If you know someone, even if it’s just through social media, who participates in the monetization program you’re interested in, ask them to refer you! Chances are they will be more than happy to help you out, they were in your shoes once too. They may even get a kick-back.
Keep Moving Forward
Have you ever noticed that when you work toward something, opportunities reveal themselves, even if you haven’t planned for them? Just keep moving forward and this will happen for you. You’ll discover new ways to monetize, new streams of income, opportunities for expansion, and new connections to help promote your products.
Don’t Forget to Network
While you don’t necessarily need to become an influencer, networking is necessary. Make friends with people pursuing the same business ventures you are. Many markets are saturated and having a network to help boost your visibility is key. Plus, if that person makes it big before you do, they can help send traffic your way. Be sure to become a part of our private Fly Moms community so we can help you network and give you a boost at the beginning!
