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Starting a Business on the Side Selling Your Expertise

Starting a Business on the Side Selling Your Expertise

Hi, it’s Stacey Myers here! Where I help you use your knowledge and expertise
to build a business, and today we’re going to talk about starting a business on the side. I’m going to talk about our topic in two different
sections. The first one is starting a business on the
side, so starting a business while you still have a full time job and the other one is
using your expertise and knowledge to build a business. We’re going to begin with starting a business
on the side. Now, I am a massive advocate of staying in
your job for as long as possible when building your business. It costs money to start a business and it’s
nice to know that you have a consistent income coming in every week or every month. There are running costs to having a business. Now the degree those costs is completely up
to you and how much you want to spend in your business, but you do want to be investing
a certain amount of money. There’s obviously the tools that you’re going
to want to consider to actually run your business, like scheduling tools, a web hosting, various
other things like that. But then there’s also… I really think people should be investing
in coaching and training when building their businesses, especially when you’re building
a business on the side. You don’t have time to muck about sitting
on YouTube for hours looking at free videos, finding out how to set up a page on WordPress
or how to put an image on WordPress. We just simply don’t have the time to do it
and so having the money to be able to invest in the training and courses to be able to
help you with this is really, really important. And then also if you want to build your business
faster, you go into me wanting to invest in marketing and so it might be that you want
to do some Facebook ads or you want to do some Twitter ads or Instagram ads or something
that’s going to help you increase the traffic you get to website. Therefore, increasing your visibility and
the number of people that know you, so there is a way you can build your business. You can build it slowly by looking and doing
all the free research and looking at all the individual videos and creating everything
yourself. But I am a massive advocate of staying in
the job and using the money. One of the biggest things that made a difference
for me was outsourcing. So having other people come in and do things
in my business. Now I am honestly, I’ll admitted it, a little
bit of a control freak. So I do not outsource anything that I haven’t
kind of learned how to do myself. So I have people do some graphics for me. I’m not that great at graphics, so I have
people do graphics. I have people do some stuff on my website
for me. Now I know how to use WordPress, but it takes
me a lot longer to do certain things on my website than it does for other people to do
it. So it’s a great thing for me to be able to
outsource to people. I see a lot of people that quit their jobs
too soon. The listen to this… quit your job, live
the dream, do your work from the beach? All this kind of rubbish. But, mostly what I hear from people is they
quit the jobs too soon and then every single piece of money they make in their business
is going towards their bills. Then what happens is you start talking to
clients with desperation. You need to get someone to buy your program. You need to get a new client because you have
to pay your electricity or your car’s broken down or something is come in. Whereas if you keep your job, you have this
money coming in, you’re not talking to people with desperation. You can build your business properly and then
it will be way more sustainable than if you just rush in and I’m quit your job and try and then do
it all. I heard a marketer once say, if you can’t
build your business part time, then you’re never going to be able to build it full time. Just because you have more time doesn’t mean
that you’re going to be able to definitely build your business, the skills and everything
you need to be able to build a business, you should be able to do them part time and have
your business built to a certain stage that you’re comfortable and you have the money
to be able to pay all your bills and have some left over to pay all the things in your
business as well. Now, let’s look at the second part of this. Starting a business, selling your knowledge
and expertise. So I’m really passionate about every person
living their best life and it’s through learning from others that this generally is
possible. This is why I focus on working with clients
who want to build a business around their knowledge and expertise. I like this business model because you already
know what you’re talking about. You’re already doing what you want to do in
your business, in your day job, or you could have an offline business and you’re wanting
to start an online business and other clients that I have they had been working full time
and have been studying. So one of my clients as an accountant and
she’s very interested in nutrition and so she’s been studying nutrition in her as a
part time and then now she’s building a business around her nutrition. Another way that you already have the knowledge
without having to do the study or doing it in your day job is if it’s just something
that you’re naturally great at. Like I’m seeing all these wonderful people
out there who helped people organizing. Or that it’s a life experience that you’ve
been through. It might be that you support and help people
with weight loss. You might not be a nutritionist and that’s
not what you sell yourself as, but you’ve had the experience of losing weight and having
a healthier life. And it’s something you can have a shared experience
with people as they’re going through it. So you already know exactly what it is that
you’re talking about. This isn’t an area that you need to concentrate
on. The thing that you want to start concentrating
on is the skills of actually building a business, being able to market yourself, being able
to market your knowledge and expertise. Now I want to clarify something here. When I talk about marketing your expertise,
I’m not saying you need to be an expert. I’m saying you have some knowledge that is
bigger or better or more than the people that you want to help. You don’t have to know everything there is
to know about everything to be able to market and sell your expertise and really transform
and change people’s lives. The first thing we want to look at when starting
a business around your expertise is asking yourself three questions. The first question is… what is it that you
want to do? If we look at the organizing example, what
I want to do is help people organize their offices, organize their houses, and then you
want to think about why do you want to do that? Why do you have a passion for it? Now, I know like people talk about this big
massive why for your business and I think we do have these big massive why’s and they’re
important to help us when we are not wanting to get up and wanting
to do things. But this isn’t exactly what I’m talking about
here. I’m talking about, why do you want to do what
you want to do and it could be like with the organizer that you’re just really passionate
about helping people clean the houses because you know that people have that have been de-cluttered
house, they feel freer or cleaner or more competent and also being able to find things
when they want to find them and not have to like scrounge around trying to find the piece
of paper that they need or anything else they want. And then the third question I want you to
ask yourself is who do you want to do it with? It might be that I want to help new mothers
get their houses organized for when the babies arrive, So, that, everything is in order and all they have to concentrate on is looking
after their new child when they arrived. What I’d really love to hear from you is… What is your area of expertise? What is it that you can really help people
with? And leave that in the comments below. So as I talked about, this is like the first
step in starting your business, having a think about what is it you want to do, why do you
want to do it, and who do you want to do with? Now there are six other steps that I talk
about in building a business. In my program from idea to open for business,
these are the steps that we work through and I have a free webinar for you to have a look
at that goes through the other six steps that you want to take to create a really great
foundation for a business where you want to sell your knowledge or expertise and you’ll
find the link to that in the comments below. If this video has been of value to you, I’d
love for you to click the subscribe button and then ting the little bell so that you’ll
get notified when I upload some new videos. And don’t forget to leave a comment below,
I’d love to hear your area of expertise and what it is that you’re really great at helping
people with. I’ll see you in the next video.

23 thoughts on “Starting a Business on the Side Selling Your Expertise

  1. Thanks for watching! I'd love to hear from you. Do you run a business on the side or are thinking about it?

  2. Thanks for this video. I am glad to see that I am on track…this video is so relevant for ao many of us. Love it!

  3. Yes, me and 2 friends have an online course to help you start up as an Airbnb host. Our course will maximize your chances for success and allow you to hit the ground running 🙂

    This is a fun quiz we created:

  4. This is how I started my studio! Step by step…wish I'd had a video like this when I started

  5. I totally agree that you should start your business as a side hustle, and keep your full-time job while building it up!

  6. Agree, Stacey Myers, Just about everyone will need a Side Hustle, but staying in your employment whilst you do so, is wise advice.

  7. Great video Stacey. We all want the dream but some of are not willing to make the sacrifices that comes along with it. Thank you for this frank message.

  8. Wow! This video is so on point with the tips that every entrepreneur should hear. I've recently started to outsource some work for my business and it has been great with helping me with managing working full time and working on my business. I'm a career coach so I do career coaching!

  9. I'm a side hustler and I've been considering getting a coach to whip my business into shape!

  10. Hi Stacey. It takes guts to start a business so it really helps to have the reassurance of a job at the same time! Deirdre. X

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