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Thinking of starting up your own business? It seems as though many people are taking the time to create their own small businesses these days. It's a great idea to turn your hobby/downtime activities into a source of extra income! Let's discuss how to do this with low financial risk:

 

A tip for successfully beginning your own small business is to continue earning from your primary job while building your business. Instead of taking a financial major risk and relying solely on your new business idea, protect yourself and begin your business in your spare time while you are still earning a regular income. This way, you can test the waters of owning your own business while having the freedom to pivot and/or change your business plans if needed - with little to no financial risk. As your business begins to take off, you can reconsider relying solely on your business' income if you feel that you can live comfortably off of it instead of finding out that the profits from your new business are not a viable income source after quitting your primary job! Starting your business on the side will help you push through the more difficult stages of opening a business while providing you with the more financial freedom to make sure that your new business will be as successful as possible.

 

Testing the waters of owning your own business this way is a generally foolproof plan to see if your hobby/side business has a chance at becoming your main source of income! Want more small business tips? Check out the link to our Instagram here or read our other business tip blog posts here!