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How to Grow Your Side Hustle Into a Successful Business

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Decades ago, launching a business meant risking your life savings to rent a storefront or to buy inventory – but today, technology enables many new ways to ease into a startup lifestyle without the chance of losing your shirt.

Ambitious people can use the gig economy to tackle opportunities in their free time, and developing a side hustle outside of your day job is a way to get a taste of entrepreneurship, as well.

Grow Your Side Hustle

But for some, a side hustle isn’t enough. Instead, they want to take that side hustle – their true passion – and grow it into a real career or business.

Today’s infographic from Quid Corner gives 10 steps on how to make that transition a reality.

How to Grow Your Side Hustle Into a Successful Business

Taking your passion and converting it into a successful venture is not an easy move – otherwise everyone would do it.

Instead, it takes hard work, knowledge, tenacity, and patience. Here are some key points worth considering as you grow your side hustle into something bigger.

10 Steps to Consider

1. Cover Monthly Expenses
It’s hard to replace your full monthly salary at the start, so aim to have your side hustle replace a set of monthly expenses at first. This will take some of the pressure off, and allow you to grow things organically.

2. Network
Meet with other side hustlers and learn from them. Develop strong relationships with the people that inspire you.

3. Find a Mentor
Studies show that small businesses with a mentor are twice as likely to succeed over a five year period.

4. Register
Eventually, register your business officially. This separates your personal and business assets, and it makes your side hustle more legit in the eyes of customers.

5. Pareto’s Law
With a new venture, there will be plenty of tasks to do. Pareto’s Law states that concentrating on 20% of these tasks (the most important) will generate most of your outputs (80%), so prioritize accordingly. See more on this mental model in a previous infographic.

6. Delegate
Delegate daily tasks outside of your core skillset. This will allow you to focus on your passion and what you uniquely bring to the table.

7. Automate
Use apps to automate repetitive tasks. You can schedule social media posts, track leads and conversions, run payroll, and manage inventory with apps – and much more.

8. Focus on Cash Flow
A whopping 82% of small businesses fail from cash flow problems. Therefore, this should be an important focus for any business owner.

9. Set Goals
Set long-term goals, and short-term objectives to achieve them. Use the SMART (Specific, Measurable, Achievable, Relevant, and Timely) framework to set near-term objectives.

10. Stop, Collaborate, and Listen
Collaborate with businesses that share your values, and learn from them at the same time.

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Misc

The Top 25 Nationalities of U.S. Immigrants

Mexico is the largest source of immigrants to the U.S., with almost 11 million immigrants.

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Bar chart showing the top 25 nationalities of US Immigrants.

The Top 25 Nationalities of U.S. Immigrants

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

The United States is home to more than 46 million immigrants, constituting approximately 14% of its total population.

This graphic displays the top 25 countries of origin for U.S. immigrants, based on 2022 estimates. The data is sourced from the Migration Policy Institute (MPI), which analyzed information from the U.S. Census Bureau’s 2022 American Community Survey.

In this context, “immigrants” refer to individuals residing in the United States who were not U.S. citizens at birth.

Mexico Emerges as a Leading Source of Immigration

Mexico stands out as the largest contributor to U.S. immigration due to its geographical proximity and historical ties.

Various economic factors, including wage disparities and employment opportunities, motivate many Mexicans to seek better prospects north of the border.

CountryRegion# of Immigrants
🇲🇽 MexicoLatin America
& Caribbean
10,678,502
🇮🇳 IndiaAsia2,839,618
🇨🇳 ChinaAsia2,217,894
🇵🇭 PhilippinesAsia1,982,333
🇸🇻 El SalvadorLatin America
& Caribbean
1,407,622
🇻🇳 VietnamAsia1,331,192
🇨🇺 CubaLatin America
& Caribbean
1,312,510
🇩🇴 Dominican RepublicLatin America
& Caribbean
1,279,900
🇬🇹 GuatemalaLatin America
& Caribbean
1,148,543
🇰🇷 KoreaAsia1,045,100
🇨🇴 ColombiaLatin America
& Caribbean
928,053
🇭🇳 HondurasLatin America
& Caribbean
843,774
🇨🇦 CanadaNorthern America821,322
🇯🇲 JamaicaLatin America
& Caribbean
804,775
🇭🇹 HaitiLatin America
& Caribbean
730,780
🇬🇧 United KingdomEurope676,652
🇻🇪 VenezuelaLatin America
& Caribbean
667,664
🇧🇷 BrazilLatin America
& Caribbean
618,525
🇩🇪 GermanyEurope537,484
🇪🇨 EcuadorLatin America
& Caribbean
518,287
🇵🇪 PeruLatin America
& Caribbean
471,988
🇳🇬 NigeriaAfrica448,405
🇺🇦 UkraineEurope427,163
🇮🇷 IranMiddle East407,283
🇵🇰 PakistanAsia399,086
Rest of World11,637,634
Total46,182,089

Mexicans are followed in this ranking by Indians, Chinese, and Filipinos, though most immigrants on this list come from countries in the Latin American and Caribbean region.

On the other hand, only three European countries are among the top sources of U.S. immigrants: the UK, Germany, and Ukraine.

Immigration continues to be a significant factor contributing to the overall growth of the U.S. population. Overall population growth has decelerated over the past decade primarily due to declining birth rates.

Between 2021 and 2022, the increase in the immigrant population accounted for 65% of the total population growth in the U.S., representing 912,000 individuals out of nearly 1.4 million.

If you enjoyed this post, be sure to check out Visualized: Why Do People Immigrate to the U.S.? This visualization shows the different reasons cited by new arrivals to America in 2021.

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