Launch your Dream business

Launch your Dream business

The new year brings a fresh start and new opportunities. We all have a passion and a goal which we are striving to achieve, why not make it a reality? We're here to guide you on how to take the leap and get that company going.

Whether you are looking for a side hustle or a full-time gig, it is essential to understand the "Why" behind what you are doing. It may seem like a simple question, but if you can't sell yourself on your venture, then how will you sell it to your potential customers or even the bank?
Once you have answered the "Why" and have a clear plan to move forward, it's time to start your journey. Things rarely happen overnight, so make sure to make every minute count. It will take time to grow your side hustle so take planned, effective baby steps and keep going, then your results will start to show.

Before thinking about the financial elements, here are some crucial things to remind yourself of:

Focus on the right first steps. Don't get overwhelmed by the distance between your idea and the final product. You can worry about fancy logos and legal structures at a later stage, and while they are essential steps to cover these shouldn't be your first.

Keep Going. Many people start strong but due to diminishing motivation, they give up. Prepare yourself for the setbacks and know that progress will be slow at first, but keep going anyway.

Manage your time. It will take time. Don't let the age-old excuse of 'no time' be the reason why your venture doesn't get off the ground. Make sure to manage your time correctly so that you give your side hustle the time it needs.

Not all side hustles require tremendous start-up capital, but some do need a bit of external help to get off the ground. Even with knowing your "why" and having a well thought out business plan, the bank may say no, so where to from here? A microloan could be the ideal answer.
Microloans are loans, not always small, that are used by people who can't get a traditional loan from the bank. Generally, these microloans can be used for anything and not secured by assets, but they do attract a higher interest rate due to the shorter time frame the loan is taken.

A 2019 survey showed that more than 27% of South Africans are involved in a side hustle and that compared to previous years, this trend keeps growing. Regardless of the reasons for you wanting to start, 2020 could very well be your year. Develop your skills and explore your passions, and with a bit of hard work it will payoff.