Growth: 15 Best Strategies and Tips on Setting Transformational Goals to Accelerate your Side Hustle Growth.

Reading Time: 5 minutes

Are Goals Important for Growth?

During my time in business, I’ve learned that the key to success lies in the goals you set. It’s a simple equation – if you aim for 5%, you’ll achieve a 5% outcome, if you aim for 10%, you’ll achieve a 10% outcome. However, if you set your sights on a 125% goal, the outcome will be transformational. The critical factor that sets the 125% goal apart is the actions required to achieve it, which will be vastly different from those required for a 5% goal. Time and time again, I have experienced this exact thing, we challenged ourselves to a ambitious goal, and every time we met it. It wasn’t easy, but we thought big and we delivered big.

If your growth goal is set at 5%, your focus will likely be on making small and gradual improvements. Your strategies may include adding a new product, enhancing customer service, or refining your marketing efforts. These steps can undoubtedly lead to growth, but they may not result in a significant breakthrough.

In contrast, if your growth goal is set at 125%, you’ll be forced to think creatively and explore innovative solutions. This could mean venturing into new markets, developing breakthrough products, adding an employee/contractor, or even overhauling your entire business model. The plan you devise to achieve this level of growth will be vastly different from the one aimed at a 5% increase.

Goal setting is a key component of achieving success. The Ladders cites several studies that show why goals are not only important but should also be SMART.

What Is The Difference Between Basic and Transformational Goals?

There are Basic actions that we all take to grow our Side Hustles. A lot has been written on them, including by SH360HQ, and there are good solutions providers to help if you don’t want to DIY. These include the following:

Examples Of Basic Goals

Creating a user-friendly website: Ensure your website is easy to navigate, visually appealing, and optimized for both desktop and mobile devices.
Developing valuable products or services: Offer high-quality products or services that address the needs and desires of your target audience.
Implementing SEO best practices: Optimize your website’s content and structure for search engines to improve organic visibility and drive targeted traffic.
Engaging in social media marketing: Establish a presence on relevant social media platforms to interact with your audience, share content, and increase brand awareness such as Facebook, Instagram, LinkedIn and others.
Providing excellent customer service: Respond promptly to customer inquiries, address concerns, and seek feedback to foster long-lasting relationships and encourage repeat business.

But if you want to turbo charge your growth, then your approaches will be vastly different. Transformational actions that can accelerate your business will require a little more thought and effort upfront. It is also important to set timeframes for when you will take the actions so you create momentum and achieve results.

Examples Of Transformational Goals

Collaborating with influencers or industry experts: Partner with prominent figures in your niche to gain credibility, expand your reach, and tap into their established audience. Conduct research on those influencers through Google Search, YouTube searches. The goal may be to target 3-4 influencers.
Launching viral marketing campaigns: Create buzzworthy content or promotions that encourage social sharing and have the potential to reach a massive audience quickly. (I will go into more detail on this in an example I will provide for an Etsy jewelry business).
Utilizing paid advertising strategically: Invest in digital advertising (e.g., Google Ads, social media ads) to reach a highly targeted audience and scale your customer acquisition efforts. The goal may be $50-100 in certain channels such as Facebook, Taboola, or your Marketplace advertising.
Developing strategic partnerships or joint ventures: Collaborate with complementary businesses to leverage their resources, customer base, and expertise to fuel mutual growth.
Innovating and expanding your offerings: Continuously experiment with new products, services, or business models that have the potential to disrupt your market and propel your business forward.

What Does This Look Like For A Business?

To help you see the differences, I have used an Etsy Side Hustle of selling jewelry.

Basic Actions: The 5%

Crafting a visually appealing Etsy store: Ensure your store is well-organized, visually attractive, and showcases your unique jewelry pieces with high-quality photos and descriptions.
Developing a distinctive jewelry line: Offer a variety of handmade jewelry pieces that cater to different styles and preferences while emphasizing your unique artistic vision.
Utilizing Etsy SEO best practices: Optimize your product listings with relevant keywords and tags to improve search visibility within the Etsy platform and drive targeted traffic.
Engaging in social media marketing: Establish a presence on platforms like Instagram and Pinterest, where visual content thrives, to interact with your audience, share your creations, and increase brand awareness.
Providing excellent customer service: Respond promptly to customer inquiries, address concerns, and seek feedback to foster long-lasting relationships and encourage repeat business.

Transformational Actions: The 125%

Collaborating with influencers or style icons: Partner with prominent figures in the fashion or jewelry niche to gain credibility, expand your reach, and tap into their established audience.
Launching limited edition or seasonal collections: Create buzzworthy jewelry collections that encourage social sharing and have the potential to reach a massive audience quickly. (see example below)
Utilizing Etsy Promoted Listings strategically: Invest in Etsy’s paid advertising options to increase visibility and drive more traffic to your handmade jewelry listings.
Developing strategic partnerships or joint ventures: Collaborate with complementary businesses, such as fashion boutiques or lifestyle bloggers, to leverage their resources, customer base, and expertise to fuel mutual growth.
Innovating and expanding your jewelry offerings: Continuously experiment with new materials, designs, or jewelry-making techniques that have the potential to differentiate your brand and attract new customers.

What Is Social Media Buzz and How Do You Create It?

So what is Buzz worthy content and promotions? Launching viral marketing campaigns involves creating content or promotions that resonate with your target audience, spark conversation, and encourage social sharing.

3 Examples

Social Media Challenges: Create a fun and engaging challenge on platforms like Instagram or TikTok, where participants showcase their favorite jewelry pieces from your collection or style them in unique ways. Encourage users to tag your brand and use a specific hashtag, increasing your brand’s visibility.
Influencer Collaborations: Partner with popular influencers in the fashion or jewelry niche, offering them exclusive or limited-edition pieces to wear and promote on their social media channels. This can create excitement among their followers and inspire them to share your brand with their networks.
Giveaways and Contests: Organize a giveaway or contest that rewards participants with your jewelry products or a shopping spree in your store. Encourage participants to share the contest on social media and tag their friends to increase your brand’s exposure and reach.

By executing one or more of these viral marketing campaign ideas, a handmade jewelry business can generate buzz, increase brand awareness, and potentially reach a much larger audience in a short period of time.

Conclusion

Setting ambitious goals can be challenging and uncomfortable, believe me, I know. But it’s essential for achieving breakthrough success in your business. When you set challenging objectives, you open yourself up to opportunities and actions that you might have missed with lower expectations. There are also great resources can help you such as great books that change the way you think about your Side Hustle. By pushing yourself out of your comfort zone and aiming higher, you’ll be able to see and define new possibilities for growth and development. So, embrace the discomfort of setting challenging goals, and trust that the rewards will be worth it in the end.