Yesterday I took https://cloudchemicals.co.za online marking our first entry to the chemicals sector (ironically a sector of my 9-5) and the plan is to grow in this sector. Traditionally I focused on health professionals as our key customer base and biggest contributor to our revenue. But this year I have seen some growth across sectors. I expanded into the Security Sector with Risk Terminator, NGO sector with HWCSA-Hope for Women & Children South Africa, Alternative Medical Sector with Nongxamela Online, Engineering and Build Sector with Kona & Sons and last the Chemicals Sector with Cloud Chemicals.
I want to briefly summarise the key driver to the growth of my side-gigs which I believe can be key driver of growth for any side gig:
- Sales Sales Sales – Many people think talent guarantees business but unfortunately there is many talented people who are poor and hardly make a cent from their talent. Everyone has talent but not everyone is an entrepreneur. An entrepreneur is deliberate about his or her intentions and goals. An entrepreneur wants to make money and understands that for money to be made sales must happen. You can have ideas, you can have capital but without a paying customer you are not in business. So one key skill that you should develop as an entrepreneur is the ability to sell and sells twice as much next day. Selling is a science it doesn’t happen haphazardly. Sales is a science that is underpinned by processes, principles and discipline. One day i will do a deep dive on sales and sales process.
- Business Model – You see many entrepreneurs are so preoccupied with money that they will easily jump on a quick buck. However it is important to think about what one needs to achieve in the long-term and how daily activities influence attainment of that goal. One tool to guide day to day activities towards a goal is to develop a solid business model. One key benefit of a clear business model is that you are then able to map your income generation process to your vision. I opted for a subscription business model because i have seen that it is growth orientated and has successfully driven value for the insurance companies and telecommunications companies. And indeed it has driven so much growth to all my side gigs. However this does not to imply that all side gigs should be on a subscription business model.
- Relationships – It’s very rare that a person who doesn’t know you will buy from you. And the only time they will buy from you is if there is an inherent trust and goodwill drawn from a person or place they are comfortable with. If they know someone who you have done work for, or if they met you at a place they deem safe, or if the saw a recommendation about you and other scenarios like that will make them buy your services. So the key driver of business growth is relationships because relationships generate sales and sales guarantees us income. You always want to create an environment where people can easily trust you and your services; and that’s the art of building relationships.
One day i will expand on the list above and add some more drivers of business growth and also do a deep dive into each.
Growth can be measured in terms of revenue, customers, order book , profit and capacity. All these drivers impact at least one of these areas.
I am currently working on exciting projects, a fully loaded pipeline, closing more deals each day, growing all my-side gigs, almost each day money comes into my bank account and i am looking at hiring my first employee this week. Thats growth!!
If you find this blog useful and are looking to implement some of the advice please comment with a side gig you are pursuing and how you are going to improve growth in your side-gig.
For now i have to go (Some of us have got to work)