Is it too late to start a social media busines in 2021?
If you are reading this, it means you have seen some videos or posts about people that have quit their job to do their social media business full time. No doubt you have wondered if you missed the boat or if there is still an opportunity out there for you to be free from your 9 to 5.
My brothers and I have been debating this same question for the past few months. Since I believe it is not too late to start your own social media business in 2021, I made a bet with them. Either I will be fully self-sustaining off my social media business at the end of the year, and I win the bet, or I will never mention it again to them, and they’ll win the bet.
Rules of the challenge:
Since this is a challenge to see if it is possible to build a business from scratch in 2021, I think it is important to have some rules in place to be a fair comparison for anyone who wants to start their own business. The rules I have decided to abide by are:
• Not use of my personal network to grow my business since not everyone has a large network.
• Post Monday-Saturday, taking each Sunday off to relax.
• Continue to post for 1 year straight, regardless of the outcome.
• Update followers on my progress every Saturday.
I have been in financial services since 2004 and ran my own online sales business before that. While I was working, I completed a Bachelor’s degree in Business Management and a Masters in Business Administration. I have also completed several certifications relevant to the personal finance space.
I primarily focused on wealth management for clients in the $5–50 million dollar net worth range during my financial services career. These individuals were often business owners, so a good portion of my time was spent in a small business consulting space.
Because of this experience, I will focus most of my content on personal finance and business topics. Each Saturday, I will provide an update so people can follow along to see how long I’ve spent on each task and the relative return.
To achieve this goal of growing my social media businesses to a full-time job replacement, I will be posting a new piece of content every day except Sunday. Sundays will be a day to rest and recuperate for the week.
These posts will include Medium articles, YouTube videos, and Instagram posts. For Instagram, I will be doing posts + stories because the posts seem to get lost in all of the paid advertising that is now taking place.
I plan to continue posting regardless of the outcome for at least one year because I understand the majority of the success will come from consistency.
I know that posting once a day is a heavier workload than most people will want to take. However, I feel that it will be required to accelerate the process to make this challenge a clear win or loss at the end of the year.
Let me know what you would like me to track in the comment section below or what challenges have kept you from making your side hustle a true replacement to your 9 to 5.