You Have a Sole Proprietorship and Might Not Know It

Scenario: you don’t have your own legit business today. You have a couple of people you’ve done some work for once or twice this year and you’ve been paid a little bit of money. You don’t want to start a sole proprietorship because you read that you should start an LLC or SCorp, so you’re planning to set that up when you have a little more time.

Sound familiar?

Well, let me be the first to say…Congratulations—you’re a business owner!

A Sole Proprietorship: You Might Already Own a Business and Not Even Know It graphic

If you have “a couple of people you’ve done some work for” and “you’ve been paid a little bit of money” you have clients and income. You already have a business—even though you don’t have an LLC or SCorp or any other legal business structure.

In a nutshell, if you provide a service or if you sell something, and collect money from it**, you have a sole proprietorship—unless you’ve formed a legal structure for that business (if you don’t know what I mean by “formed a legal structure”, then you probably haven’t done it).

**This is all assuming that what you do or sell is legal. Side Hustle Business School encourages legal side hustles.

*Also, I’m not a lawyer. I don’t play a lawyer on TV. This is not legal advice. For legal advice, please consult an actual, practicing lawyer. 

As an example, when you design a logo for a client, and they pay you, you’re operating as a sole proprietor. That’s generally all it really takes to have a sole proprietorship.

Before you get all nervous, you haven’t done anything wrong. Many businesses start this way. You probably don’t need to go run out and start filing any papers or doing anything much different than what you have been doing.

You should, however, be aware that you already are running a business. Which means if you were “waiting to start your business one day”, but you’re already getting paid, you’re actually not waiting to start your business.

You’ve already started your business and just didn’t know it. Continue reading →

Posted by Naya the Creative in Laws and Ethics, Side Hustle Logistics, 0 comments

Raving Fans by Ken Blanchard & Sheldon Bowles (+ Raving Fans Quotes)

These lessons and Raving Fans quotes are going to blow your mind!

I am one of many raving fans of the public library system. All of the books I want, delivered to my library, for free. They find what I want for me and make it super easy for me to request and pick up my books, no matter how busy they are. And my librarians are really nice.

So when I took out a few books the other day and realized one of my books, Raving Fans by Ken Blanchard and Sheldon Bowles, wouldn’t register in the self-checkout machine, I went to a librarian for help. When she scanned it she said:

“This book actually shouldn’t be in our system anymore. You can actually keep this one.”

Free book. Like free-free.

Yeah, I was pretty hyped about it. And that’s before I even read the book.

Raving Fans Ken Blanchard Sheldon Bowles + Raving Fans Quotes

Raving Fans claims to be “A Revolutionary Approach to Customer Service”. But just a few pages in you’ll lean that Raving Fans is about a lot more than creating excellent customer service. This book forces you to think critically about the way you want your business to run and then how to turn your customers into raving fans. Continue reading →

Posted by Naya the Creative in Book Reports, Getting Started, Mindset, 0 comments

Time Management Strategies for the Side Hustler

We can all benefit from new time management strategies, whether you’re a side hustler or not. The tips in this post are best for people with full-time commitments who would like to start a business on the side.

Time-Management-Strategies-for-the-Side-Hustler

I’ll get straight to the point. You’re busy. But you want to make more money. You want financial freedom. And you want to feel fulfilled.

You know that starting a business can help you achieve these things, but you just don’t (think) you have time. If you didn’t know already, my philosophy on starting a business with limited time and/or money is that you should start off with your own side hustle and then grow it into the business you imagine having one day.

Why is that my philosophy? Because a side hustle comes with a lot less responsibility and pressure than a business that someone (including yourself or a bank) has already invested resources in. And, if you don’t have a lot of money, a side hustle is usually easy to get out of if you’re not able to keep up with it, or if a significant change happens in your life.

On top of that, the biggest step that your side hustle actually requires is getting started. Once you start feeling that extra money in your hands, you’ll wonder why you ever took so long to take this step (feel free to leave a comment if you disagree).

Let’s not pretend that it isn’t going to take any time, though. It’s not about starting your side hustle and putting your feet up by the beach for the rest of your days. Still, you shouldn’t have to feel burdened by the amount of time your side hustle requires, so I’m going to share a few tips that can help you add your side hustle into your life without making any drastic changes. Continue reading →

Posted by Naya the Creative in Mindset, Side Hustle Logistics, 0 comments

Side Hustle CEOs: Kwaku Osei-Bonsu and TheStrangeRootsBox

Some of the best business ideas come from our own life experiences that we know the rest of the world would benefit from. This is absolutely the case with Kwaku Osei-Bonsu and his idea for TheStrangeRootsBox.

As a college student, Kwaku’s mother would send him care packages that really covered all the bases. These incredible care packages had your usual home-sickness curing snacks and candy, but they also came with books and other real-life necessities. These care packages made being a broke college student a lot easier to handle.

The Strange Roots Box

According to Kwaku, “These care packages were a lifeline.” We totally get it—these care packages sound like they were love in a box.

Kwaku decided that he wanted to make it easy for families to send their loved ones care packages that make them feel loved and cared for the way his mother’s care packages did for him.

We think he hit the nail right on the head when he created TheStrangeRootsBox. Continue reading →

Posted by Side Hustle Business School Team in Getting Started, Mindset, Side Hustle CEOs, 0 comments

Who are the Side Hustle CEOs?

Short answer: You. Me. Anyone else who has a side hustle and is in charge of its success.

Your side hustle could be something you work on for 3 hours a week or it could be something you work on more than you work at your day job. It’s a side hustle until it’s your main hustle.

Side hustle = side income. Main hustle = main income.

Meet the Side Hustle CEOs

You might be a Side Hustle CEO who is running a business that’s grown too big, i.e. makes you too much of your money, to still be called a side hustle. That’s cool. If it started out as a side hustle, and you remember the grind it took you to get where you are, then you’re still one of us.

But, more specifically, when we’re talking about Side Hustle CEOs here on the Side Hustle Business School website, we are talking about the amazing people who are featured in the Side Hustle CEOs series. Continue reading →

Posted by Side Hustle Business School Team in Getting Started, Side Hustle CEOs, 0 comments