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Key Takeaways Define a clear value proposition so customers immediately understand your purpose and unique value.
Build strong business foundations with insurance, financial systems and consistent professional development investments.
Treat your side hustle like a real business to unlock sustainable long-term growth opportunities.
During a recent engagement for a client event, I was eager to work with a new and talented creative partner. Unfortunately, this collaboration never happened because they did not have, nor could they obtain, insurance — a non-negotiable to enter into most venues.
As I reflected on how we ended up in this situation, it occurred to me that more and more people are operating their business as a side hustle. In fact, 72% of Americans either already have a side hustle or are considering starting one, and 37% of US workers currently have a side hustle, while another 35% are actively considering one.
As a full-time business owner, I always welcome the chance to collaborate with qualified businesses (side hustle or otherwise), but I feel the need to encourage every small business owner to have the following things in place, no matter the size or type of business you have.
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