{"id":485913,"date":"2021-04-26T10:56:06","date_gmt":"2021-04-26T08:56:06","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=485913"},"modified":"2021-04-26T11:32:50","modified_gmt":"2021-04-26T09:32:50","slug":"heres-how-to-turn-your-side-hustle-into-a-thriving-business","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/485913\/heres-how-to-turn-your-side-hustle-into-a-thriving-business\/","title":{"rendered":"Here\u2019s how to turn your side hustle into a thriving business"},"content":{"rendered":"

Many South Africans have started side hustles during the COVID-19 pandemic to make extra money.<\/p>\n

If you are one of these people, you may be considering transforming this into a full-time business.<\/p>\n

Click here to learn more about Sage\u2019s small business solutions.<\/strong><\/a><\/p>\n

Some of the most successful businesses in the country began as side hustles, thanks largely to South Africans who were passionate about making a difference.<\/p>\n

For example, bio-scientists Andile Gcaza and Phetole Raseropo founded Evergrow<\/a><\/strong> after being frustrated at how expensive healthy foods were in supermarkets. Evergrow sells high-yield, fast-turnover vegetable seedlings to small-scale and subsistence farmers in rural and peri-urban communities.<\/p>\n

They didn\u2019t have money, tools, or resources to start Evergrow, but they saw a problem and found a way to solve it using these four steps:<\/p>\n

    \n
  1. Start with a seed \u2013 <\/strong>Have a problem to solve.<\/li>\n
  2. Plant the seed \u2013<\/strong> Find a customer willing to pay for the problem to be fixed.<\/li>\n
  3. Nurture its growth \u2013<\/strong> Seedlings need the right amount of water and sunlight to germinate. What comes next in your business depends on how well you nurture it.<\/li>\n
  4. Learn as you grow \u2013<\/strong> Starting a business is five times harder than you think it will be, but the rewards are worth every sacrifice and failure.<\/li>\n<\/ol>\n

    If you have a side hustle, you\u2019ve probably already done the first two steps. Now it is time to move to steps three and four.<\/p>\n

    Starting your business<\/strong><\/h3>\n

    If you want to turn your side hustle into a fully-fledged business, you should first decide on your business\u2019s structure<\/a><\/strong>. This includes determining how the company will operate. Will you trade as a sole proprietor, or will you be a registered company?<\/p>\n

    Each of these options offers unique pros and cons, and the better option will depend on the nature of your business.<\/p>\n

    You then need to formalise the details of your business. What is its name? Where will you operate from? What will you name your website?<\/p>\n

    Depending on the industry you are operating in, you may also need to register with the appropriate regulatory body.<\/p>\n

    Get the right software<\/strong><\/h3>\n

    Once you have made these decisions, you should look for the best software to help achieve your goals.<\/p>\n

    This includes having an effective accounting and payroll solution, so you streamline your financial processes \u2013 including invoicing, cash flow management, supplier payments, VAT returns, and employee payments.<\/p>\n

    This is where Sage steps in, offering the best cloud-based accounting and payroll software solutions for small businesses.<\/p>\n

    Sage Business Cloud makes it easy for you to process payments and financial transactions.<\/p>\n

    This lets you focus on your day-to-day business tasks rather than spending hours trying to perform your financial tasks manually.<\/p>\n

    Click here to learn more about Sage\u2019s small business solutions.<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    You need to develop a business structure and equip yourself with the right software.<\/p>\n","protected":false},"author":57,"featured_media":485917,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[1033],"class_list":["post-485913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-sage"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/485913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=485913"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/485913\/revisions"}],"predecessor-version":[{"id":486033,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/485913\/revisions\/486033"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/485917"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=485913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=485913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=485913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}