Is it time you took your financial independence into your own hands and started a side hustle? But which business models are going to make great side hustles for introverts?
Which Business Models 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.
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
- Self- Paced Courses
- Creative Products
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?
- Virtual Assistant
- Consultancy Services
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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.
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 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.
This post is an excerpt from my new online course The Introverts Guide To Starting An Online Business
If you’re interested in learning more about side hustles for introverts, check it out.