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How to Turn a Side-Hustle Into a Real and Viable Business

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In the years leading up to the COVID-19 pandemic, a fascinating shift was underway. Each year, an ever-growing portion of the workforce was counting on freelance work for some or all of their income. It was a phenomenon that many industry observers referred to as the rise of the gig economy.

By 2020, there were 64.8 million freelance workers in the US alone. And experts predicted that a full 50.9% of the US workforce would be freelancing by 2028. Then the pandemic changed everything. Suddenly, millions of workers with full-time jobs found themselves out of work and exploring their options.

Their predicament sent the freelance boom into hyper-drive. But it also changed the nature of the decisions workers faced. Before the pandemic, most workers were content to use their freelance work to augment the income from their full-time job. But now, a growing portion of the workforce is looking for ways to turn their freelance work into full-time businesses of their own.

The scope of the change is staggering. In 2021, approximately 380 out of every 100,000 US adults became entrepreneurs each month. That’s the highest percentage of new entrepreneurship in 25 years and more people are joining them every day.

But the fact is, it’s not easy to turn a side hustle into a full-time business of your own. Starting a business requires funding. And it also requires multidisciplinary expertise that most people simply don’t have.

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There is some good news, however. It’s that there are lots of resources available to help new entrepreneurs to find their way and make the most of whatever budget they do have.

This is one of those resources.

To help those looking to make the transition from gig worker to full-time entrepreneur, here’s a guide to launching a one-person business on a shoestring budget. We’ll cover where it’s safe to cut corners, where it isn’t, and how to market your new business without a massive budget. If you’re ready, let’s dive in.

Step 1: Begin Your Journey With Incorporation

If you’re planning to turn your side hustle into a business, you must recognize one simple fact early on. It’s that people will only take your new business as seriously as you do. So, it’s not enough to dream up a name and start promoting it all over town. You have to turn your new business into a real, tangible legal entity.

That means you’re going to have to decide on a business structure and incorporate your new business. But there are several options you can pick to do so. Unless you have a lawyer in the family—and if you do, you’ll want to stay on their good side—you must begin by researching your available incorporation options.

Ideally, you’ll want to choose the best fit that provides you with the right mix of liability protection, tax benefits, and flexibility. For example, if you’re planning to stay as a one-person show for the foreseeable future, an LLC might suffice. But if you’ve got larger aspirations, an S or C corporation could be a better fit.

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Be aware though, that depending on where you live, you’ll need to pay a fee to register your business. In some places, you’ll also pay an annual fee to continue operating—but the fees are typically small and the benefits are worth the cost. And this is an area where you don’t have to splurge.

You can cut some corners here by handling the necessary filings yourself. You don’t have to hire anyone to do it for you. It’s not anywhere near as difficult as you might think.


Why Email Marketing Matters for Monetization with Alex Cattoni VIDEO

Step 2: Build an Online Presence

Once you’ve got yourself a bona fide business, the next step is to create an online presence for it. Besides doing quality work, this is the step that could determine how far your business will ultimately go. Fortunately—creating a robust online presence for your business isn’t anywhere near as hard or as costly as it used to be.

Step one is to secure a domain name and build a website. Depending on the nature of your work, you might need to devote some significant efforts to do so. For example, if you’re a graphic designer, you need your business’s website to show clients how fantastic your work is. If you’re trying to build an eCommerce brand, you’ll need a site with a built-in shopping cart system, payment processing, and drop shipping integrations.

The good news here is that most solo businesses can turn to any of the multitudes of low-cost website builders to get a high-quality website up and running. Most won’t cost more than $20 per month and come with everything you need to get started.

Beyond a website, the other components of your business’s online presence will consist of social media accounts, which shouldn’t cost a thing.

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Step 3: Identify Your Target Market

1652911609 18 How to Turn a Side Hustle Into a Real and Viable

You may have noticed by now that the steps we’ve covered so far aren’t very challenging — nor are they particularly costly. But your next steps will require you to spend a bit more money. That’s because they’ll involve marketing your business to potential new customers to keep your bottom line healthy. And although there are ways to contain some of those costs—which we’ll discuss—some spending will be inevitable.

Before you move on, though, you’re going to need to figure out who you need to target to avoid wasting what little upfront marketing budget you have to commit to the effort. To identify your target market, you should begin by creating a profile of the clients you had as a part-time freelancer. You’ll want to identify what they have in common, as well as what services they needed most often.

The idea is to try and define what your ideal customer looks like so you can find more prospects that fit their description.

And if you’ve had a diverse set of clients up to this point, don’t fret. You can use their individual profiles to create multiple target audiences. In some ways, you may be better off that way. It’ll make it much easier for you to employ market segmentation in your later marketing efforts.

At this stage, however, you should focus on identifying the customer profile that represents the largest targetable audience — so you won’t run out of potential customers as you’re getting off the ground.

Step 4: Devise and Execute a Startup Marketing Strategy

With your online presence all set up and your target audience identified, the next thing you’ll have to do is get to work attracting potential customers. And that means devising an appropriate marketing strategy and executing it to perfection.

how much you’ll need to spend will depend on your particular skill set and willingness to get in the trenches and work. But it’s just fine to start off with a limited marketing budget. In fact, some marketing experts see that as a natural place to start.

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When starting on a limited budget, the one thing everyone has is ‘time’. We all have the same 24 hours. So use this time to your advantage and build your product, brand, or service.

When starting any business, you need a consistent flow of customers!

To attain them, you need to work hard to drive potential customers to your website. When money is limited, you need to make use of writing website content so it ranks on Google and drives traffic. You do this by building relationships with other website owners who can recommend your website and business.

As your customer base grows and you become busy, ‘time’ then becomes a problem. But now, you have ‘money’. With this regular flow of money, you can start outsourcing your digital marketing to an expert and grow your online business even more by using Google ads, Facebook ads, LinkedIn ads, email marketing, SEO etc. Using experts in their field allows you to stay focused on what matters most to you…your business!

John Cammidge, Google Ads specialist from the UK.

Even when you reach the point where it makes sense to outsource some of your marketing workloads, there will always be a place for you to contribute to your own cause. You might, for example, contribute a regular blog column to your website and social channels. Doing that helps to keep you connected to your customers. You might also use your specific skills to create an online course that will function as a traffic magnet on your website in perpetuity.

Step 5: Make Your Early Customers Your Raison d’Être

1652911609 411 How to Turn a Side Hustle Into a Real and Viable

At this point, all that’s left to do is to keep working on your marketing efforts and wait for them to bear fruit. But when they start to—in the form of new customers calling on your business—you’re going to need to pivot fast.

To put things simply, you need to make your initial customers the center of your world. 

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That’s because keeping your first batch of new customers happy is the secret to making your business’s early growth sustainable. In short—you need to prioritize customer retention in the earliest stages of your business if you want to build the kind of financial wherewithal you’ll need to be more selective later on.

And the best part of reaching this stage is that it means you’ve successfully turned your side hustle into a real and viable business. At this point, your new company is no longer theoretical. It’s real and it’s—hopefully—paying your bills.

From there, the sky’s the limit.

Your new business will take you as far as you’re willing to go. And you’ll never have to return to anyone else’s payroll again. Before you know it, you’ll be the one cutting paychecks to others.

But that’s a topic for an entirely different article—which you’re welcome to write now that you’ve got the requisite business experience.


Why Email Marketing Matters for Monetization with Alex Cattoni VIDEO

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Roundel Media Studio: What to Expect From Target’s New Self-Service Platform

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Roundel-media-studio-featured-image

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By Tinuiti Team

Roundel™ Media Studio (RMS) has arrived, revolutionizing Target’s advertising game. This self-service platform offers seamless activation, management, and analysis of Target Product Ads, with more solutions on the horizon.

Powered by first-party data from both in-store and online shoppers, RMS provides new audience insights. Coupled with Target’s new loyalty program, Circle 360, advertisers gain precision targeting like never before.

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But Target isn’t stopping there. With the rollout of a paid membership program on April 7th, bundling Target Circle, the Circle Card, and Shipt delivery, Target is elevating its media and membership offerings to rival the likes of Walmart and Amazon.

Curious to learn more? We sat down with our experts at Tinuiti to dive deeper into the potential implications of this platform for brands and advertisers alike.

What is Roundel Media Studio?

Roundel™ Media Studio is an integrated platform that consolidates various solutions and tools offered by Roundel™. At its core, it kicks off with our sponsored product ads, known as Target Product Ads by Roundel™.

example of target roundel ad
Example of Target Product Ads by Roundel™
Image Source: Target.com

This comprehensive platform grants access to the complete range of Target Product Ad placements, featuring tailored slots like “More to Consider” and “Frequently Bought Together” to enhance relevance and personalization.

Moreover, Roundel™ Media Studio operates without any DSP or access fees for Target Product Ads, ensuring that your media budget is optimized to deliver greater efficiency, more clicks, and ultimately, increased sales.

“One of the larger benefits of the transition is that advertisers have an opportunity to capitalize on the additional dollars saved by switching to RMS. Without the 20% fee, brands can re-invest those funds to scale campaigns or optimize budgets, all without having to allocate more funds which drives better results. Roundel™ is putting more control in the hands of advertisers by introducing this new self-service platform.”

– Averie Lynch, Specialist, Strategic Services at Tinuiti

To summarize, key benefits of using RMS include:

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  • No Access or DSP Fees
  • All Target Product Ads Inventory
  • 1st Price Auction with Existing Floor Prices
  • Closed Loop Sales & Attribution
  • Billing via Criteo Insertion Order
  • Access Using Partners Online

How to access Roundel Media Studio 

According to Target, there’s 3 steps to access Roundel™ Media Studio:

Step 1. Check that you have a Partners Online (POL) account for access. Don’t have one? Reach out to your POL admin to get set up with an account (reach out if you need help locating your organization’s admin). 

Step 2. Once you have gotten access to POL, reach out to your Roundel representative who will grant you access to the platform. 

Step 3. Users can access Roundel™ Media Studio in 2 ways:

Roundel Media Studio Best Practices

Target offers a variety of tips on how to best leverage their latest offering to drive performance. 

Let’s take a look at the latest best practices for strategies such as maximizing efficiency or driving sales revenue. 

Recommended bidding tactics for maximizing efficiency:

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  • Set your line-item optimizer to Revenue for the highest return on ad spend (ROAS) or to Conversions for the lowest Cost per Order (CPO).
  • Since the Revenue and Conversions optimizers modulate the CPC you enter to maximize performance, it is useful to set a CPC cap to make sure that your bid will not exceed the maximum amount you wish to pay. The CPC cap should always remain at least 30% above the bid you enter to allow the engine to optimize effectively.
  • Set your bids competitively to balance scale and performance (ROAS or CPO) targets.
  • Optimize bids with respect to your CPO targets: lower CPCs slightly to increase efficiency, or raise them to increase scale

Recommended bidding tactics for maximizing sales revenue:

  • Set the line-item optimizer to Revenue.
  • Set bids to maximize scale and competitiveness while staying above KPI thresholds. Since the Revenue optimizer modulates the CPC you enter to maximize performance, it is useful to set a CPC cap to make sure that your bid will not exceed the maximum amount you wish to pay.
  • Adjust your bids progressively and preferably at the product level: filter the top products by Spend and then slightly reduce any bids that have a ROAS below your threshold.
  • In general, slightly lower CPC to increase efficiency or raise CPC to increase win rates and therefore increase sell-through.

Takeaways & Next Steps

This is just the start for RMS. In the future, Tinuiti will continue its partnership with Roundel to refine features and introduce additional ad types and functionalities.

When exploring any new advertising opportunity, the best results are typically realized when partnering with a performance marketing agency that understands the unique landscape. Our team boasts years of hands-on experience advertising in new and established marketplaces, including Amazon, Walmart, and Target. Working directly with Roundel, we ensure our clients’ ads harness the full functionality and features Target has to offer, with results-oriented scalability baked in.

Ready to learn more about how we can help your brand? Reach out to us today!

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Unlocking the Power of AI Transcription for Enhanced Content Marketing Strategies

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Unlocking the Power of AI Transcription for Enhanced Content Marketing Strategies

Have you noticed how artificial intelligence (AI) is slowly integrating into, well, everything? Then it won’t surprise you to hear that it’s also infiltrated content marketing.

How can AI enhance your content marketing? Through AI transcription.

Want to learn how?

Why AI Transcription is Revolutionary

AI transcription is transforming the way we access and interact with information. Here’s how it’s changing the game:

Rapid Content Transformation

Imagine turning a one-hour podcast or webinar into a comprehensive text document in minutes.

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AI transcription allows for quick conversion of long-form audio and video content, making it a breeze to repurpose these materials into articles, blogs, or reports.

This means you’re spending a lot less time working on making your content as accessible as possible—the AI is doing it for you—and more time on simply creating new content.

Inclusivity and Accessibility

By providing a text version of audio and video content, AI transcription breaks down barriers for people with hearing impairments. This widens your audience.

It also aids non-native speakers in understanding the content better by allowing them to read along, improving comprehension and engagement.

Content Amplification

With AI transcription, a single piece of content can be repurposed into a multitude of formats.

For example, a transcribed interview can be used to create an in-depth blog post, several engaging social media posts, and even quotes for infographics. This not only amplifies your content’s reach but also maximizes the return on investment for every piece of content created.

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SEO Benefits

Transcripts can be a goldmine for SEO. They are rich in keywords spoken naturally during conversations. Including these transcripts on your website or blog can significantly improve your search engine ranking by providing more content for search engines to index.

Real-Time Engagement

With real-time transcription services, audiences can follow along with live events, like conferences or webinars, through captions. This enhances the interactive experience and viewers don’t miss out on important information.

AI transcription is revolutionary because it democratizes content, making it accessible and usable in a variety of formats. It caters to a global audience, and multiplies the impact of the original content, all while improving SEO and user engagement.

Integrating AI Successfully

To truly tap into the power of AI transcription, you need a game plan. It starts with picking the right AI transcription service—one that’s not only accurate but also savvy with the lingo of your field.

Here’s how you can integrate AI transcription into your workflow like a pro:

Record Quality Content

The clearer your audio or video recording, the better your transcription will be. Invest in good recording equipment, minimize background noise, and ensure speakers articulate clearly. Think of it as laying the groundwork for flawless transcription.

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Transcribe with AI

Once you have your high-quality recording, it’s time to let the AI work its magic. Upload your file to AI technology like Clipto and let it transform your spoken words into written text. This step is where the tech shines, turning hours of audio into text in minutes.

Edit and Polish

AI is smart, but it’s not perfect. Review the transcript for any errors or awkward phrasings. Adjust any text you need to. This editing process ensures the final product is not only accurate but also engaging and readable.

Incorporate into Your Strategy

Now that you have your polished transcript, use it to upgrade your marketing materials. Transcripts can be repurposed into blog posts, social media content, eBooks, or even used to enhance video and podcast SEO by providing searchable text.

AI transcription is  a dynamic tool that can extend your capabilities. By treating AI as a collaborative partner, you can enhance your content marketing efforts, making your message clearer, more accessible, and far-reaching. Integrating AI transcription allows you to engage with your audience on multiple levels.

Spicing Up Your Content with AI Transcription

Let’s get real—AI transcription is more than just a fancy way of turning chatter into text. It’s a secret weapon in your content marketing arsenal.

Boosting Quality and Nailing Relevance

Think about it: when you transcribe your audio and video goodies, you’re capturing every little detail and nuance that might have slipped by unnoticed. Here’s the scoop:

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  • Accuracy is Key: With AI, you can nail the exactness of your content, catching the subtle hints and expressions that give it flavor.
  • SEO Magic: Those transcripts are like SEO gold, stuffed with keywords that naturally pop up in conversation, giving your site’s visibility a hearty push.

And the cherry on top? AI transcription can sort out the big themes in your content, keeping your marketing vibe consistent and spot-on across all platforms.

Digging into Data

Now, here comes the detective work. AI transcription lays out all the juicy data about what your audience loves (and doesn’t). With this goldmine of info, you can:

  • Analyze Engagement: Spot the hotspots in your videos or podcasts where people hang on every word—and where they hit the fast-forward button. This insight is like a roadmap to your audience’s heart.
  • Strategize with Confidence: Armed with data, you can tweak your topics, amp up engagement, and keep your audience coming back for more.

So, by turning your spoken content into text, you’re not just filling up space. You’re diving deep into the analytics pool for a smarter, more data-driven approach to content marketing. It’s about getting down to the nitty-gritty of what your audience really likes, making every word you publish count.

Bottom Line

It’s clear that AI transcription is not just a fleeting trend but a robust ally in the realm of content marketing. Equipped with tools to make your message not only heard but felt across the globe.

From crafting precision-packed text that search engines adore to unveiling layers of audience insights waiting to be explored, AI transcription is your go-to for making every piece of content count.

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How To Adapt Your SEO and Content Strategies for SGE and AI Experiences

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How to Adapt Your SEO and Content Strategies for SGE and AI Experiences

A massive change is coming to search.

As Google experiments with AI in its standard search results and its Search Generative Experience (SGE), marketers must understand how to adapt their content strategies for new AI-impacted search experiences.

Since 2023, Google has been prolific in its AI experimentation, changing the way content is represented in search results. Its content-led SGE recently moved out of its testing lab to show up in a small percentage of results in Google’s main search interface.

Brands that produce content experiences that align with new search behaviors and focus on conversion stand a better chance to survive the search change.

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Google adds generative AI, first-person reviews, and anti-spam actions

Your news feed says all. Search and generative AI investments are everywhere. And it’s not just Google — new entrants, such as Perplexity AI and You.com, are on the search scene. Meanwhile, OpenAI is working on a search engine powered by Microsoft’s Bing.

Still, Google owns the biggest market share in search, so let’s focus on the ways AI is affecting Google SEO.

Reddit and new content sources

Google added new content sources to its traditional results and Search Generative Experience.

In traditional search results, adding more content sources helps fine-tune its AI technologies. The recent content licensing deal with Reddit is a prime example. You can already see its content appearing more often in traditional search results.

This screenshot shows the search engine results for “Is Volvo a good car?” A discussion from the Volvo subreddit appears as the third result on the page (or fourth if you count the people-also-ask module.)

Click to enlarge

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SGE appearance

The image below shows the SGE for the Volvo query. The first paragraphs are an AI-generated summary drawing on ratings from RepairPal (after an alert explaining the experimental nature of the generative AI content.)

Below the SGE summary, a search box prompts the visitor to ask a follow-up question. After that element, the Reddit discussion on Volvo reliability appears.

The image shows the SGE for the Volvo query.

Click to enlarge

Showing Reddit content in SERPs lets Google show more first-person reviews and opinions (the experience element of Google’s EEAT (experience, expertise, authoritativeness, and trustworthiness) for search ratings.

But how will Google distinguish between subjective, objective, and informative opinions? With Reddit content, which can include positive and negative opinions readily on display, brands will need to follow relevant discussions on Reddit.

Google goes after spam sites

You may have read about Google’s latest update, which aims to avoid sites with low-quality (often AI-generated) content and give helpful content more prominence in SERPs.

This hammers home the message to avoid relying on generative AI alone for content creation. Content needs a human touch to earn the experience, expertise, authoritativeness, and trustworthiness that Google and, more importantly, searchers want to see.

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Expect more penalties from Google for content that’s just churned out from AI prompts.

SGE’s impact on brands

SGE is the rollout that will impact every industry and content marketer.

My company, BrightEdge, built a tool to detect how and where search engines experiment with AI and new content formats. The chart below shows an estimate of the percentage of queries by industry affected by SGE results once it’s fully rolled out.

Health care will see the biggest impact, with 76% of its searches affected by SGE. Finance will be the least affected, with only 17% of queries impacted by SGE. Here’s how SGE will affect other industries:

  • E-commerce (49%)
  • B2B technology (48%)
  • Insurance (45%)
  • Education (44%)
  • Restaurants (36%)
  • Entertainment (36%)
  • Travel (30%)
The chart shows an estimate of the percentage of queries by industry affected by SGE results once it’s fully rolled out.

Click to enlarge

Once SGE rolls out completely, it will likely impact over $40 billion per year in ad revenue on Google for marketers per BrightEdge estimates.

How to prepare for SGE and changing search behavior

Google has always shown relevant sources and articles so searchers can make informed decisions. With the generative AI changes, Google’s engine now asserts an opinion. This represents a fundamental shift in how a search engine responds to queries.

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Imagine you search the web to learn more about a BMW model you’re interested in. Previously, a Google search would display results with links such as BMW’s official site, Top Gear, Consumer Reports, and Carfax. The searcher then could choose the resources to explore and form an opinion about the vehicle.

In the generative AI world, Google’s primary result might not be a direct link to BMW’s website. Instead, it could be AI-generated content that provides an evaluative perspective. The AI content might include important factors to consider when looking at a BMW, such as the potential for high maintenance expenses or issues with parts availability due to supply chain challenges. This AI-curated summary will be presented before the searcher can see the resources with links for further exploration.

This shift may lead to reduced but higher-quality traffic. Brands are likely to experience better conversion rates. The reason? Consumers are more likely to act because they’ve been influenced by prior engagements and information provided by Google.

Still, you’ll need to adapt to the new search environment. Here are some tips on how to prepare.

Focus on the search basics

Solidify your foundation of SEO and website fundamentals. The essential elements will gain more significance as time progresses.

Make sure your website is optimized for user-friendliness and complies with Google’s guidelines regarding Core Web Vitals, Helpful Content, and EEAT (experience, expertise, authoritativeness, trustworthiness).

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You may also want to review these tips for optimizing content for SGE.

Deepen your understanding of new search behaviors

Use data to grasp user and conversational intent, especially since these factors influence the AI-generated search results. Identifying high-value searches is essential.

Make sure that your content responds to the specific query and addresses its broader context to attract results for long-tail keyword searches.

Content generated by AI draws from reliable and credible sources. Ensure your brand’s content is considered an authoritative source.

The growing prominence of trusted sources and an increase in consumer reviews signal a pivotal change: Brands are likely to have less control over the customer journey.

Align content with other marketing disciplines

Search engine results now encompass an array of media types and formats, including social media, reviews, and news sources. So, teams in marketing, content creation, digital strategies, brand management, design, social media, and public relations must align closely.

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Strategies for an AI-first future

According to BrightEdge research, 98% of enterprise organizations say they’ll prioritize SEO in 2024. And 94% of organizations are looking to integrate SEO into all marketing (omnichannel) strategies.

Strategies for adapting your content approach to new search experiences will vary by industry.  Here are a few examples.

E-commerce: Google commonly presents content for e-commerce queries via product viewers. SGE replaces these with better, more visual, and informational (combined) content.

Google has experimented with several formats, including a general shopping result that details what a searcher would expect to see in a universal listing. However, as SGE results have evolved, so have the ways a user can view products.

This image shows an example of SGE’s integrated product viewer carousel with grouping for apparel, which displays multiple apparel options in a single display.

This image shows an example of SGE’s integrated product viewer carousel with grouping for apparel, which displays multiple apparel options in a single display.

These tips will help you prepare for the various viewer modules (see viewer examples).

  • Optimize for trend relevance: Aligning category pages with current trends can increase your chance of being included in SGE dynamic displays.
  • Incorporate product reviews: Showing product reviews on your site boosts credibility.
  • Present clear pricing Information: Use schema markup to highlight pricing details.

Travel, restaurants, and local: Places have long been a key module for Google. Now, we’re seeing the places module showing up in about 45% of SGE queries. So, make sure to include location-based keywords.

You might also try these optimization suggestions:  

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  • Monitor and respond to reviews.
  • Tailor your local listings for location-specific queries.
  • Keep an eye on how and where SGE displays local modules. SGE displays local results even in queries without location-specific terms.

Entertainment: SGE entertainment results are primarily informational. But more reviews (and warnings for age-appropriate content) are appearing in both traditional search and SGE.

Get ready to shift your SEO thinking

Whoever provides the best experience for their target consumers will win in the new AI search experiences. Focus on third-party content reviews, social, PR, and brand authority. Expect your competitive landscape to change with new entrants that might eat into your market share.

Be aware, ready, and prepared to optimize for multiple AI search experiences.

All tools mentioned in this article were suggested by the author. If you’d like to suggest a tool, share the article on social media with a comment.

Want more content marketing tips, insights, and examples? Subscribe to workday or weekly emails from CMI.

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Cover image by Joseph Kalinowski/Content Marketing Institute

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