You’ve found a winning idea for your side hustle business - Great.
Now, where do you find your target audience?
What’s your value proposition?
How do you communicate this to your target audience once you’ve found them?
This post will help you:
- Craft an elevator pitch that sets out why customers should choose your product or service;
- Give you an idea of where you can find your target audience; and
- Give you some options for creating a feedback group for your side hustle business idea.
I’ve also put together a free guide to help turn your goals into concrete action steps so that you can stay focused and on track as you go through the process of setting up your own side hustle business.
If you prefer watching all episodes of the Side Hustle Series, you can check out the playlist that I've created on my YouTube channel here.
Creating an Elevator Pitch
Before inviting people to interact with your side hustle business, it helps to have an elevator pitch prepared so you can quickly communicate the value proposition of your business.
An elevator pitch is a short, memorable description of what you do and/or what you sell.
Ideally, your elevator pitch should be under 30 seconds in length and you want to make sure that the words are easily digestible in order to keep your customer’s attention.
You can break your elevator pitch down into 4 parts:
- Your company or product name
- The problem you’re solving
- Your proposed solution
- The key benefit of your solution
Your elevator pitch includes your value proposition - a short and simple statement that communicates to customers why they should choose your product or service.
Think about a 1-2 sentence description that explains the unique value you’re offering to bring to your target audience.
Target Audience
Now that your elevator pitch and value proposition are ready, it’s time to find your target audience.
At this stage you might be thinking, where, and how, do I find my target audience?
A good place to start is by thinking about where your target audience is already spending their time online or offline.
Some places you. might find your target audience include:
- Facebook & LinkedIn groups
- Niche online forums
- Networking events.
For a full list of potential places you might find your target audience, and guidance on preparing your elevator pitch and value proposition, make sure you download the guide that accompanies this post.
If you’re not sure where to start, the guide also includes a paragraph that you can post in relevant Facebook groups that helps to start a feedback conversation around your side hustle business idea.
Creating a Feedback Group
If you’re unsure about going out to the wider public to get feedback on your side hustle business idea, you can always start closer to home.
Who do you know amongst your friends, family, and co-workers that may be interested in the product or service idea you want to offer?
Scroll through recent messages, and emails and scan your followers on social media to look for people who might be interested in your side hustle business.
Reach out to them and present your idea to get some feedback.
Make sure you focus on starting conversations instead of trying to sell the idea straight away!
Once you’ve got some initial feedback and built confidence in your side hustle business idea, you can start to expand beyond your personal network.
Next Steps
Now that you’ve created your elevator pitch, identified your target audience, and got some initial feedback about your side hustle business idea, it’s time to experiment with some promotion strategies to spread the word.
Figuring out what promotion works best for your business is covered in the next post of this Side Hustle Series, so make sure you click the video that will show up over here once it’s gone live.
In the meantime, don’t forget to download your free guide which summarizes the steps in this post to help keep you on track with creating your own side hustle business.