In the Inland Region of Southern California, many people have side hustles that run on a cash basis and are not part of the formal economy. That means they may not have a financial track record to use for funding. They may also be undocumented.
A good wage for a family of four is about $65,000 per year. The region is not creating enough of these "high road" jobs that pay for medical insurance and make retirement contributions.
If they could transition these side hustles into thriving businesses, they could leave their poor-paying jobs with no career path and no benefits.
What are the best pathways for helping them succeed?
Dear James Curtis Spee
These could be some pathways to turn a side hustle into a thriving enterprise: identify a lucrative market, perfect skills, and expertise, create a strong brand identity, build a robust online presence, implement effective marketing strategies, establish scalable systems, expand service or product offering, partnerships and collaborations, seek funding for growth, professionalize the operations, seek continuous improvement, adhere to legal and tax requirements, among others.
I hope this helps.
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