You’ve got talent and you’ve managed to use it to give people something they want in exchange for money. This monetized talent isn’t your main job; you do it on the weekends, in the evening after your kids are asleep, or on special occasions. But you love what you do and would love to turn your extra income into your main income.

7 steps to transform your Side Hustle into a Small Business

1. Get a business coach. A coach provides an objective perspective on your business, offers honest feedback, and identifies potential blind spots. The Louisville Urban League Center for Entrepreneurship provides free business coaching, access to professional services, and monthly group education courses. The coaches at LULCE can help with the following steps.
2. Identify your market. Research your market, test your idea with potential customers, and refine your product or service based on feedback to ensure demand.
3. Create a seamless customer experience. Provide excellent service, simplify purchasing processes, and address customer needs efficiently to build loyalty and positive word-of-mouth.
4. Write a business plan. Develop a clear roadmap outlining your goals, target market, revenue model, and growth strategies to guide your business decisions.
5. Build a strong brand. Establish a memorable brand identity with a compelling name, logo, messaging, and online presence to build credibility and attract customers.
6. Secure legal, financial, and funding requirements. Register your business, open a business bank account, identify customer payment methods, and explore funding options like loans, investors, or grants to ensure stability.
7. Plan a strategic marketing launch. Develop a targeted marketing strategy using digital advertising, social media engagement, influencer partnerships, content marketing, and PR campaigns to build brand awareness, generate buzz, and attract your ideal customers.

Your side hustle is the starting point with the potential to turn a passion into a profitable business. A foray into entrepreneurship can provide financial security, allow you to explore your passion, and give you a sense of independence. The Louisville Urban League Center for Entrepreneurship serves as the front door for current and aspiring entrepreneurs looking to start up, stabilize, or scale their businesses.

The Louisville Urban League is dedicated to fostering economic empowerment in order to elevate the standard of living in historically underserved urban communities, with our focus on Jobs, Justice, Education, Health, Housing, and Black Business.

We provide many services, including job coaching, record expungement, health navigation, financial counseling, and support for small businesses.

For more information call (502)585-4622.