More and more people are planning to launch a side business as a means of supplementing their income, after the pandemic had drastic economy on our jobs.
Covid-19 or not, having two incomes is far superior to having one! Who doesn’t want a second source of income?
The issue is that we frequently believe that beginning a side business necessitates constantly chasing after consumers. You simply want to do something you enjoy without having to worry about sales and marketing.
Continually selling to new customers is exhausting. But there is another option: Create a modest side business that delivers value to repeat customers.
Acquiring new consumers necessitates a significant investment of resources, time, and energy. It can cost five times as much to acquire a new customer as it does to keep an old one. That means you need recurring consumers if you want to establish any form of profitable business.
But what does this entail for those looking to establish a new business as a side hustle? You won’t have to worry about following down customers indefinitely.
One of the best ways to grow your side business is to simply start a side business that caters to a limited group of consumers and continue to serve them! Then ask these customers to help you grow your business by spreading word about it. You may even offer to share a part of what you earn through your old customers who will bring you new business.
The video below will show you more ways to grow your business
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