Starting a Side Business? Start Here

A Quick Business Planning Primer for Your Side Hustle

As a financial planner, if there’s one thing I’ve learned about financial success, it’s this – No dream is beyond planning. With the right mindset and a realistic approach, building a business out of your passion or hobby is a great way to diversify and increase your income potential.

The opportunity for success in business is unprecedented in the online marketplace. A 2015 study by Pew Research Center showed that 79% of Americans now shop online, compared to the mere 22% who shopped online in 2000. As even more people become comfortable with making their purchases online, more retailers are adjusting their platforms to include an online presence.

The old business adage used to be “location, location”, but when it comes to being an online business, you could be located anywhere and still drum up as much (if not more) sales than a brick and mortar store in a prime shopping center downtown.

Getting Started With An Online Business

The process of writing a business plan allows you to literally invent a world from scratch, taking into consideration not just what gets done, but how everything in your business happens. (more…)