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    How to start a Side Business | Step-by-Step Guide

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    How to start a Side Business

    Side businesses have helped millions and billions of people to generate an extra income. Therefore, you must know how to start a side business. 

    Above all, it is never an expense but an investment for a better future.

    Let’s take an example of the current situation that has made most of the people lost their jobs. As a result, they have no source of income. 

    How good would it be if they know how to start a side business. It can probably be a new source of income.

    Therefore, here is how you can start a side business:

    6 Steps to Start a Side Business

    Step 1: Find the Business Idea

    To choose a business, you must firstly analyse a few things:

    • Things are you good at doing?
    • What are the skills that people may need?
    • Something you can do that person will pay for it

    However, if nothing strikes, you can choose from these ideas:

    1. Blogging
    2. Graphic Designing
    3. Logo Designing
    4. Merchandising 
    5. On-demand Printing
    6. Online Tutoring
    7. Sunday Special Courses
    8. Cooking/Baking Classes
    9. Writing and Selling eBooks
    10. Digital Marketing
    11. Podcasting
    12. Amazon Reselling Business
    13. Affiliate Marketing
    14. Digital Marketing
    15. Photography
    16. Catering Business

    Choose the business that you will enjoy doing. So, go for something you like to do. It can be a dancing class or a singing class. Also, if you are a good listener and advisor, you can even go for consultation business.

    Step 2: Register your Business

    The next moment as you decide the business, go for company registration online and get your business registered to avoid any legal conflicts.

    But, if you are doing a job, it is advisable to look into your contract if they have any restrictions for starting a side business.

    After that, you can register your business under the following structure:

    • Private Limited Company 
    • Sole Proprietorship
    • Partnership
    • LLP

    The choice depends on the scale of business, investment and partners.

    To know more about the best structure for your business, you can contact StartEazy.in and get a free consultation.

    Step 3: Set up your Business

    Now, when you know how to start a side business, it is time to set it up.

    Set up your business both offline and online.

    For Online, make a website and acquire a domain name, create social media and WhatsApp. Also, make sure you have a separate id and number for your company.

    Set up your physical store for offline business so that people can visit you formally.

    Step 4: Open a Business Bank Account

    Every business must have a separate bank account. It helps in having the right evaluation of the expenses and profits.

    Therefore, it is advisable to open a current bank account for this purpose.

    Step 5: Hire (Optional)

    You can even hire freelancers to delegate your work later. It is a feasible and budget-friendly option.

    Also, it will lessen your burden and allow you to focus on more crucial aspects.

    Step 6: Set Goals and Start a Side Business

    Now set realistic and achievable goals and start your business. With this in mind, work hard, do more if needed and achieve what you have always dreamed of from the start.

    Investment Required to start a Side Business

    You don’t need to have pre-planned investments to start a side business. So, just make sure to have enough to start. Therefore, you may require Rs. 50,000 – Rs. 80,000 if doing on a small scale.

    You can slowly invest more while earning from your job and profits.

    Conclusion

    If you focus on building your empire in your 20’s you can live the life you desire in your furthers.

    Do not wait any more and learn how to start a side business and become financially independent till your 30’s.

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    Shweta Raghavhttps://cryptonic.news
    Shweta Raghav is a distinguished blogger with a decade of experience, specializing in the dynamic world of cryptocurrency and blockchain technology. With an engineering background from Rajasthan Technical University, Kota, Shweta has seamlessly blended her technical expertise with her passion for writing to become a leading voice in the crypto community. She is the visionary behind Cryptonic.news, a platform dedicated to providing insightful analysis, news, and updates in the cryptocurrency space. Beyond her primary focus on cryptocurrency, Shweta maintains a broader interest in technology and education, as evidenced by her successful blog at edubuzspot.blogspot.com. Here, she explores a variety of topics, offering her readers a wealth of knowledge drawn from her extensive experience and engineering background. Shweta's journey in the digital space is driven by a deep-seated commitment to demystifying complex technological concepts for her audience, empowering them with the information needed to navigate the rapidly evolving tech landscape. Her work not only reflects her expertise in engineering and technology but also her skill in making these subjects accessible and engaging to a broad audience. As a mentor and influencer, Shweta is dedicated to fostering a community of learners and enthusiasts who are as passionate about technology and innovation as she is. Her contributions to the field have not only earned her a respected place in the blogging community but have also made her a trusted source of information and inspiration. For the latest insights into the world of cryptocurrency and technology, follow Shweta on her blog at cryptonic.news and edubuzspot.blogspot.com, or reach out to her at shwetaraghav39@gmail.com.

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