Hey, fellow South Africans, in this article we discuss setting realistic Goals for Your Side Hustle.
Do you know what’s more exciting than bungee jumping? Starting a side hustle! But let’s face it, sometimes it can feel like climbing Mount Kilimanjaro with no guide. The trick is to set goals that you can actually achieve without pulling your hair out.
So, here are some tips to keep you on track:
Define Your Why and Your Vision.
Are you ready to dive into the world of side hustles? Before you get started, let’s talk about the importance of defining your why and vision. Trust me, it’s not as complicated as it sounds!
So, why are you starting this side hustle? Is it to make some extra cash? To pursue a passion? To escape your day job? Whatever your reason may be, it’s important to have a clear understanding of it. Take a moment to reflect on your motivation and write it down. And while you’re at it, think about your vision for your side hustle. What do you hope to achieve? Do you want to turn it into a full-time gig? Build a brand? Again, write it down!
Now that you have your why and vision down, it’s time to set some goals. And not just any goals, but SMART goals! Don’t worry, we’re not talking about intelligent robots here. SMART stands for specific, measurable, achievable, relevant, and time-bound. In other words, set goals that are clear, quantifiable, realistic, aligned with your why and vision, and have a deadline.
Start by breaking down your vision into smaller, achievable goals. For example, if your vision is to make a certain amount of money, set a specific goal for how much you want to make each month. Then, break that down even further. How many products do you need to sell or clients do you need to book each week to reach that monthly goal? By setting these smaller goals, you’ll have a roadmap to follow and be able to track your progress along the way.
But remember, be realistic and flexible with your goals. Life happens, unexpected challenges arise, and sometimes things don’t go as planned. Don’t beat yourself up if you don’t hit a goal exactly as you intended. Use it as an opportunity to learn and adjust your strategy as needed.
And don’t forget, your why and vision are your guiding stars. If a goal doesn’t align with them, then it may not be worth pursuing. Stay focused on your purpose and keep pushing towards your dreams.
Set Specific, Measurable, Attainable, Relevant, and Time-Bound (SMART) Goals.
Alright, listen up South Africans! When it comes to starting a side hustle, you don’t want to just wing it. No, no, no. You need to set some SMART goals. What’s that, you ask? Specific, Measurable, Attainable, Relevant, and Time-Bound goals, baby!
First things first, get specific with your goals. Don’t just say you want to make more money, be clear about how much you want to earn from your side hustle. And make sure your goals are measurable. That way, you can track your progress and see how far you’ve come.
Now, let’s talk about attainable goals. Don’t set yourself up for failure by aiming for something that’s completely out of reach. Keep it realistic, people! And while you’re at it, make sure your goals align with your overall vision and purpose. You don’t want to waste your time and energy on something that’s not going to get you closer to your ultimate goal.
Last but not least, your goals need to be time-bound. That means setting a deadline or timeframe for completion. Don’t just say you want to earn an extra $500 a month. Say you want to earn an extra $500 a month by the end of the next quarter. That way, you have something to work towards and you can track your progress along the way.
Break Down Your Goals into Smaller, Achievable Steps.
Once you have a clear understanding of your why and vision, it’s time to start setting goals. But don’t just set big, lofty goals that seem impossible to achieve. Break them down into smaller, achievable steps. This will help you stay motivated and focused, as you’ll be able to see progress along the way. For example, if your goal is to make $10,000 in your side hustle this year, break it down into smaller monthly or weekly goals. This will make the goal seem less daunting and more achievable. Remember to celebrate each small win along the way!
Create a Plan and Schedule for Achieving Your Goals.
Starting a side hustle can be exciting, but it can also be overwhelming. When you first dive into the world of entrepreneurship, you might feel like you have a million things to do and not enough time to do them. You might have a grand vision for your side hustle, but when it comes to putting in the work and achieving those goals, it can feel daunting.
That’s why it’s important to break down your goals into smaller, achievable steps. Not only does this make the goal seem more manageable, but it also allows you to see progress along the way. It can be easy to get discouraged when your end goal seems far away, but when you break it down into smaller steps, you’ll be able to celebrate each milestone and stay motivated.
For example, if your goal is to make $10,000 in your side hustle this year, that might seem like a daunting task. However, if you break it down into smaller monthly or weekly goals, it suddenly becomes more achievable. You could aim to make $800 per month, or $200 per week. Then, you can break it down even further into specific tasks or targets that will help you reach that goal, such as booking a certain number of clients per week or launching a new product.
Another benefit of breaking down your goals into smaller steps is that it allows you to adjust your plan as needed. Maybe you realize halfway through the year that your initial plan isn’t working as well as you thought it would. By breaking down your goals, you can easily pivot and adjust your strategy without feeling like you’ve failed.
Celebrate Your Wins and Learn from Your Setbacks.
It’s crucial to give yourself a pat on the back and celebrate your wins, no matter how small they may seem. Whether you’ve made your first sale or landed a big client, take a moment to acknowledge your progress and hard work. It’s like they say: “Every little win counts!”
Besides boosting your confidence and motivation, celebrating your wins can also help you identify what’s working and what’s not. Reflect on what you did well and how you can replicate that success in the future. For example, if you got your first sale through a social media post, try to do more of that!
On the other hand, setbacks and failures are inevitable in any side hustle journey. Don’t beat yourself up over it! Instead, use these experiences as opportunities to learn and grow. Analyze what went wrong and how you can improve for next time. Remember, setbacks are not failures, they are simply opportunities to try again with more knowledge and experience.
For instance, if a client didn’t renew their contract, think about what you could have done better or what you could change for next time. Did you communicate effectively? Did you meet their expectations? Don’t let setbacks bring you down – use them to fuel your progress and growth.
So, in summary, always celebrate your wins and learn from your setbacks. Remember, every little win counts! Keep hustling, South Africa!
So now that you have your realistic goals sorted, head over to this article for a step-by-step guide on how to start your own side hustle right here in sunny South Africa or any part of the world!
And if you are unsure about what side hustle to start, then check out this article about our 50 side hustles you can start.