Side Hustle and Microbusiness – What are they?

As part of this course, you will take the role of an entrepreneur and apply what you are learning from the textbook to develop a small business called a side hustle, gig, micro business or freelancing. Since it’s an accelerated class, it’s not feasible to start a comprehensive business, so we will focus on side hustles or microbusinesses. This will keep your business scaled down to start and give you the ability to validate the business concept. You will be the founder and manager (solopreneur) with no employees. To find out more about this type of startup, you will research current literature and report on one article that you select.

Directions:
Find at least one article (two years or less) on the topic of Side Hustles or Microbusinesses also sometimes referred to as Gigs or Freelancing. Read the article, document the source, and post a 100 to 125-word summary.
FORMAT OF POST:
Subject Line: Your Name
1.Title of Article:
2.Reference Source: Use APA format
3.Summary of the key points. (100-125 words)

Week 2: Your Two Business Ideas for a Side Hustle or Microbusiness
Put your innovative thinking hat on and come up with TWO (2) brilliant ideas for a microbusiness, also referred to as a side hustle, gig, or freelancer. You are starting with a scaled-down business since the course is accelerated and you will not have time to develop a comprehensive business concept; however, you will learn the process.
State your business ideas and write the problems they solve or the needs they satisfy for your potential customers. Your textbook refers to the basis of differentiation as what solves a problem or satisfies a customer’s needs better than competition. It’s also referred to as the value proposition by other authors. (page 129 or 4.3.1 in your text, which will be attached/uploaded)

Directions: For each of your ideas, write:
Idea – In one sentence each, briefly describe an innovative idea for a business you might start and where. Make the statement CLEAR and CONCISE. Unless you have a possible name for the business, just call it The Best Co. Naming the business will be covered in a future assignment. Make a sentence as simple as “The BEST Co. is a pet-walking service in the greater Hartford, CT area.”
Value Proposition – Two sentences. In one sentence, state the problem you are solving or the need you are satisfying for the customer. In another sentence, state how your business/product will solve the problem or satisfy the customer’s needs better than the competition.

Post your ideas and the problems/solutions or needs/satisfactions statements on Week 2 Your TWO Business Ideas Forum using the following format:
Subject line: (Your last name) – Business Ideas
Idea 1.
Idea:
Value Proposition:
Idea 2.
Idea:
Value Proposition:

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