PURPOSEFUL HUSTLE BLOG

One of the biggest worries for those hoping to start a small business is financial security. There are bills to pay, groceries to buy, children to support, car repairs to make—the list goes on. The financial hurdle can be so terrifying that many would-be business owners never dare to make their move. I get it. I’ve been there. For me, it took a lot of planning and candid budget discussions with my husband before I was ready to take that leap. We prepared ourselves for some lean months, and I was ready to hit the ground running to create a viable, profitable business. Everyone’s financial situation is different, but no matter your bank account balance or credit score, there are numerous opportunities to drum up funding to start your own business, including several methods that don’t involve paying back the money you raise. Here are 4 ways…

When you think about marketing your business, you might be overwhelmed by dollar signs. Social media ads, promotional videos, marketing professionals—these things all cost money. But there are several low-cost (or no cost!) ways to market your business. Here are my top 7 suggestions:

Two words that many small business owners, freelancers, and solopreneurs dread are TAX TIME. The term conjures images of spreadsheets, folders brimming with crinkled receipts, and complicated forms. Even if you’re a “numbers person,” this time of year can still feel daunting. Many of us are already busy with the day-to-day demands of our businesses, so tossing tax obligations into the mix can feel downright overwhelming. What to do? Fortunately, it is getting easier to file your annual taxes. Technology is a big help (hello, e-filing!), and many resources are available to walk you through the process. You can also simplify your tax season by following these six steps:

If you’re like many Purposeful Hustlers, you’ve started (or want to start) a meaningful side project. Your intentions for the project might be to earn extra money, make a positive impact, or simply do something you enjoy. But what happens when your side project is so enriching that you decide to make it your full-time focus? How can you take the leap from side hustle to full-time gig? Starting a business can give you greater freedom and flexibility, a stronger sense of purpose, and help you flex your creative muscles, but it often comes with risks. A major reason people resist converting their passion project into a full-time business is because of financial risk. And that makes sense, since many businesses fail within the first few years. To set yourself up for financial success and overcome other potential obstacles (changing markets, the fear of striking out on your own, etc.), it pays to come up with a solid plan. Here are 4 steps for turning your side hustle into a full-fledged business:

When it comes to starting a small business, it’s easy for personal and professional spending to become as tangled as a plate of spaghetti. Is your morning cup of coffee a business expense? Did you save the receipt from your purchase of office supplies? And where should you deposit those first checks? All of a sudden, you have to pay closer attention to the flow of money—both income and expenditures. And, if your small business is a side hustle you have to pay attention to two (or more!) income streams and, potentially, create two different budgets. If that sounds overwhelming, don’t worry! We’ve got you. Budgeting your business and personal income really boils down to two main steps: Setting a budget Tracking your spending

Henry Ford once said, “Whether you think you can or think you can’t, you’re right.” This declaration may seem bold, but it holds an important kernel of truth: your attitude, more than anything else, can determine your success. This is especially true when you’re attempting to start a purposeful hustle on a limited budget. You may look at your bank account, become discouraged, and put off your dreams for “another day.” I encourage you to NOT let finances be a limiting factor when it comes to pursuing your dreams! Having a strong vision, purpose, and drive is a thousand times more important than having excess cash. With enough motivation and a few smart strategies, you can start almost any type of purposeful hustle with less than a thousand dollars. Here are four strategies: