Feb 12, 2020 | Introvert Business | 0 comments

business models that make great side hustles for introverts. 

 

In my early years in business, I never gave much thought to business models or how I would deliver my services. I just decided “right, I’m going to do this now.” And I dove straight in with heart and soul.

This approach worked for me in many ways. I experienced success in my businesses because I was full of passion for what I was doing, and I gave it 100% of myself.

Unfortunately, it also resulted in burn out because I was scattered, had no boundaries and just went hard all the time. Like so many new entrepreneurs, I started from scratch, with little budget and not much experience. That means I wore every hat. I was the CEO, and I was the creative department, I was the head of marketing, I was the customer service personnel, the receptionist and the bookkeeper. And I’m confident that you are or will be all of these things too. It’s a huge learning curve. 

Starting your business is one of the most exciting times of your life. You learn so much, and your personal growth is exponential simply because you have to push yourself so hard to launch and then build your baby.
I love this time so much!
What I don’t love is what comes after. The exhaustion, both physical and mental. The discouragement when growth takes longer than you planned. The separation from your friends and family as work takes over your whole life. The eventual self-doubt and overwhelm, and if you’re not careful, the burnout.
The first step to building a sustainable business is knowing yourself and being honest with yourself.
Introversion comes in many different forms. While it’s true we all share some common traits; we also are all unique.
Think of introversion and extroversion as a continuous line. On one end is the highly introverted individual and at the other end is the complete extrovert. We each will sit somewhere different along that line. Maybe you’re right at the end of the introverted line, and the thought of talking to more than one person a day is overwhelming. Or perhaps you like to speak with people throughout the day but need to come home and be in silence to replenish your energy. Maybe you fall somewhere in the middle, enjoying extroverted activities with lots of people, for extended periods, but need time alone to recover and replenish your energy.
So when starting your business, you need to consider your introversion. The idea here is to build an online business that you will be able to show up for every single day and be on top of your game.

Let’s break down three of the most common online business models that make great side hustles for introverts

The Set and Forget Business Model

This business model is ideal for the introvert who needs a lot of downtime. If you’re not into talking to people a lot, this option is worth considering. This model is best suited to selling products because you set up the systems, create your product, devise your marketing strategy and then let the magic happen.
So what sort of products would you sell in the set and forget business model?
  • eBooks  
  • Self- Paced Courses

  • Drop-Shipping 

  • Creative Products

The Pros of The Set and Forget Business Model

  • Create once sell forever. There’s a fair bit of work right at the beginning. Still, once you have your product created and your systems in place, it will continue to bring you income with minimal ongoing work.
  • Almost everything can be outsourced. If you’re looking for a side hustle, then this business model is perfect. Let others do the hard work for you. Once everything is created, and your systems are in place, you are ready for action.

The Cons of The Set and Forget Business Model

  • It can be lonely. There is minimal contact with other people, but depending where you fall on the introversion scale that can be a pro.
  • Minimal feedback Receiving minimal feedback is a con, regardless of where you fall on the introversion scale. It’s crucial that you know if your product is working for people. What happens if your product suddenly stops selling or you begin to get negative reviews? It could become challenging to find out if it just needs a simple tweak or a complete overhaul. By the time those negative reviews come rolling in, it may well be too late. To avoid this, I suggest recruiting friends, family and a few strangers to test your product, read your book or trial your course before you launch.
  • Not a lot of personal growth Because you’ve created everything at the beginning and then you set and forget there’s not much personal growth that happens with this business model. If you’re looking for personal growth within your business, then maybe this model isn’t the best for you.
  • Limited relationship building. When everything is set and forget, it’s hard to build relationships with clients. However, maybe that’s the main reason you like this business model if so, this belongs in the pros. Keep in mind though; people buy from people. It could be challenging to attract repeat business unless of course, your product is so outstanding that people keep coming back to you for more. This situation is the holy grail in business and something we should all be working towards making our reality.

The One to One Business Model

This business model is popular amongst online coaches, and you will usually find it sitting alongside the one to many model which we will discuss next.

What sort of products or services would you offer in the one-to-one model?

  • Coaching
  • Mentoring
  • Virtual Assistant
  • Consultancy Services

Pros of the one to one business model 

  • You can create a massive positive impact on people’s lives
  • You can choose how many people to work with; you are in complete control.
  • You have the opportunity to build deep relationships 
  • You have the privilege of using your expertise

 

The Cons of The One to One Business Model 

  • It can be incredibly intensive, particularly if you find yourself with a demanding client. 
  • Finding new clients can be difficult
  • You will need to be dedicated and available to your clients consistently. Which means you will need to keep your energy high and your mindset positive regardless of what else is happening around you 
  • There will be a fair amount of face to face time, and plenty of online contact and discussion.
  • This model can be time restrictive as you will need to be available for your clients at times that suit them.

The One to Many Business Model

 

What products or services would you sell in the one too many business model?

With this model, you have many different options and a lot of freedom in how you deliver your services or products.

Let’s get an idea of two of the most popular choices.

Group Coaching. Online group coaching is so hot right now! They’re an incredibly profitable way of doing business if you get your systems right from the beginning. Group coaching has many benefits: The content is repeatable. You spend much time preparing your content for the first event but afterwards, you can tweak it, adding more, removing what didn’t work, refining your delivery and then keep reselling the experience.

You can encourage your participants to present within the group, thereby having content created for you that enriches everyone’s experience.

You can facilitate beautiful connections between your group members.

You have control over how long your coaching events are so you can structure your life as you wish. You can show up for a few hours every week but still, make a satisfying income. They’re a great platform to show your expertise and a way to encourage people to sign up for your one on one coaching if you wish to add that into your business offering.

It’s a fantastic way to create connection, open communication and community that comes from not just you interacting with your clients but group members interacting with each other.

Masterminds. Masterminds are brilliant because they work as a group coaching collective. You’re the facilitator who encourages everyone to share their expertise within the group. So while you’re setting the agenda for training topics, everyone is contributing in their own way to the conversation. I love this type of group coaching because everyone receives knowledge, even you. Masterminds are not as repeatable as regular group coaching as the content delivered depends a lot on the people within the mastermind. But this does keep your work continually evolving, and always fresh and exciting.

 

Pro’s of the one to many business model

  • The ability to make an impact in lots of peoples lives at the same time.
  • The opportunity for your own self-growth and development
  • The opportunity for connection, communication and community.
  • Highly profitable

cons of the one to many business model

  • Keeping the group dynamic positive. It only takes 1 or 2 people to show up with negative energy, and there goes your group dynamic. You need to be able to step in quickly to keep the vibe high. This can deplete you of your precious energy.
  • Keeping people engaged within the group. There will be people who like to participate, lending their voice to the story, and there are those who like to sit back and take it all in. The more people who are actively engaged within your group the better it is for everyone, so you may need to work hard to keep that engagement happening.
  • You need to show up regularly with good quality content, even on those days when you don’t feel like it. 

Want to know more?

If you would like to read more about business models that make great side hustles for introverts, and discover how to build a profitable business while working to your introvert strengths then check out my new book

“How To Build An Authentic Business. Sustainable Business Advice For Quiet People & Introverts”

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