When Shanna Magnuson sold her homemade lip balm at a local fundraiser, it quickly caught the attention of people in the Castle Dale community.

She started experimenting with other skincare products: scrubs, butters and lotion bars. Friends and neighbors would ask to buy some when they needed a gift, prompting Magnuson to set up a mini store in her home kitchen.  

She also joined several local vendor shows, gathering a larger following. That’s when she realized she could turn her hobby into a full-fledged business. After six months, Magnuson opened Naturally Inspired, a retail store selling clothing and skincare products.

Since opening in 2012, Naturally Inspired has grown from its original location in Huntington, Utah, to a larger store in Price and has expanded its online presence. While turning passion into a thriving business has not been easy, Magnuson says it’s been worth the sacrifices.

“If you love it, do it,” Magnuson advises entrepreneurs thinking of taking their side hustle to the next level. “If you truly love it, you will find a way to make it work.”

Starting a business? Test the waters, then scale your efforts.

Side businesses continue to grow in popularity — particularly among women. A survey from Intuit found that 42% of women currently earn income from a side hustle, but only 13% are formally registered as a business. Many of these enterprises have the potential to grow into something larger, says Joseph Guimond, a Business Resource Center counselor at Zions Bank in Boise, Idaho.

“A side hustle can be a great launching pad for a successful business,” Guimond says. “Once you’ve  tested the waters and determined that a business idea works, it’s just a matter of scaling your efforts.” 

Colton and Brooker King had no idea their Vernal drink stand would become their livelihood and an Eastern Utah hotspot when they opened in a small building with no running water and no sewer lines.

“We told ourselves it was going to be a side hustle,” King says. “We were a little hesitant to fully commit.”

When business took off, the Kings decided to go all in, using their remaining savings and securing a $17,000 high-interest loan – the only funding they could qualify for at the time. The risk paid off.

Eventually, they were able to pay off that loan and, with the help of a Zions Bank small business loan, Beachin’ Co. moved to a new and larger space and added two additional locations in Manti and Roosevelt.

Consider these 7 useful strategies to scale your side hustle:

Go all in. This is King’s guidance to aspiring entrepreneurs. “A side hustle is great, but your focus and energy is not there if you try to operate while you’re doing two different businesses.” Make sure you’re not spreading yourself too thin and that you are able to devote enough time to make your side hustle successful.

Have a clear vision. King says it’s important to have a clear vision for the business, so you harness energy and resources toward what matters most. Having a plan and vision for your business can also help in obtaining funding and staying resilient during setbacks.

Location, location, location. For Magnuson, knowing her clientele and settling on the right locations were key to leveling up her business. “Having a retail background, I’ve been in good and bad locations, and where the business is located has made a world of difference,” she says. Do your research to help determine which locations are available and make the most sense for your business.

Test the waters. Magnuson says getting a product out in the market in the early stages can also help smooth the transition from side hustle to successful business. “Go to different events and let people know what you have so you are building up a clientele before you jump in,” she says.

Seek guidance. Entrepreneurs wear many hats. Guimond encourages business owners to seek guidance from people with knowledge in areas that are less familiar to them, whether it’s bookkeeping or marketing.

Have a plan. Guimond says writing a business plan for your side hustle offers many benefits, and it doesn’t have to be complicated. Agencies such as the U.S. Small Business Administration and SCORE provide detailed information on developing a solid business plan. Zions Bank Business Resource Center counselors can also help you get your plan in order.

Get a handle on capital. One challenge that is consistent for entrepreneurs is access to and the management of capital. Large banks historically have been the most common source of traditional commercial loans and lines of credit. But there are other financing options, too.

The SBA, as well as state and local economic-development agencies and various nonprofit organizations, offer low-interest loans to small business owners who do not qualify for standard credit arrangements.

And whether you run a part-time consulting gig or a weekend dog-sitting service, even the smallest side hustles can benefit from a business credit card. Use our website to research and compare Zions Bank Amazing Business Visa^® credit cards that allow you to choose from a low rate, cash back or rewards points.

Visit a Zions Bank branch near you to learn more.