Author: sisu

What Is a Side Hustle and How Do You Make Money Through One?

In reality, many traditional 9-to-5 jobs often fall short of covering essential expenses, especially for those at the beginning of their careers.

When you factor in rent, food, bills, and transportation costs, you might find there’s barely anything left over—a disappointing realization.

The most disheartening aspect is the limited financial growth. Perhaps a yearly bonus of a few hundred dollars and a 1% raise on a $30,000 salary. But is that truly enough to live the life you’ve envisioned? Possibly, but more likely not.

So, many opt for a side hustle, aiming to earn a few extra hundred or even thousand dollars per month. It serves as a supplementary income stream that could contribute to immediate or future financial gains, acting as a safety net in case of sudden job loss.

A side hustle represents an avenue to earn outside the confines of a 9-to-5 job. It provides the opportunity to generate extra income, affording the freedom to pursue passions, meet needs, indulge wants, and alleviate financial concerns.

Let’s explore some of the best side jobs that enable earning more while working from home.

How to Make Money On The Side: 30 Great Side Hustles to Pursue

1. Freelancing

Freelancing stands as a proven method to earn additional income and rightfully claims a prominent spot on any list of simple side hustles. Freelancers provide services on a project-by-project basis for one or multiple clients, allowing them to set their own schedules. In-demand roles include freelance graphic designers, writers, editors, and website developers, while various other professions also present freelance opportunities. Talented mechanics, adept bookkeepers, video editors with proficiency, interior decorators, and licensed real estate agents can find project-based work that suits their skills in a flexible manner.

Marketing your freelance skills can be done cost-effectively by leveraging your personal network through emails and social media platforms. Additionally, freelancer portals such as Fiverr, Upwork, and Freelancer.com offer avenues to connect with potential clients while handling project management and payment processing on your behalf. Establishing an online presence through your website not only adds a professional touch but also enables you to offer convenient online invoicing and payment options through platforms like Square or other online payment providers.

2. Blogging

If you have a passion for sharing information through writing, starting a niche-focused blog could be your avenue. Whether it’s about travel, food, beauty, or fashion, as you draw in an audience, there’s potential to monetize through ads or affiliate sales. Ads generate income based on views or clicks, while affiliate sales reward you for promoting products or services. You receive a commission when someone purchases through your affiliate link.

In terms of expenses and platforms, expect to invest around $50 to $100 annually to maintain a basic blog. This includes purchasing a domain and setting up a blog website, which can be achieved using WordPress hosting services or user-friendly web builder platforms like Wix or Squarespace. These platforms offer intuitive design tools and appealing templates, eliminating the need to hire a designer or developer.

3. Dog Walking

If you adore dogs but lack the time or space for pet sitting or setting up a doggie daycare, consider a dog-walking service as your ideal side hustle. It seamlessly fits into a hectic schedule and offers the added perk of staying active while earning extra income.

Expenses and platforms for this venture are minimal. Typically, owners provide leashes, but it might be wise to invest in a few leashes and waste bags. Urban areas offer opportunities for dog walking through platforms like Wag!, TimetoPet, and Rover. Alternatively, you can handle your own bookings and payments using Square’s complimentary tools.

4. Tech Setup Services

When diving into the realm of technological prowess, does your proficiency encompass the intricate web of home networks, the intricacies of smart devices, the complexities of computers, and the intricacies of phones? Capitalizing on this multifaceted skill set presents an avenue for additional earnings by proffering your expertise across social media channels or the array of handyman applications nestled within the folds of your community. It’s prudent to contemplate the acquisition of tech certifications, insurance coverage, and bonding mechanisms to augment the credibility associated with in-home service provisions.

While the upfront and continuous costs tend to reside on the minimal spectrum, the initiation of such endeavors within your domicile might necessitate prudent investments in specialized tools to facilitate installations. Scour for prospects and effectively orchestrate your engagements through the portals of esteemed handyman platforms such as HelloTech and TaskRabbit. Alternatively, streamline the administration of your bookings and the orchestration of payments with utmost efficiency leveraging the resources extended by Square.

5. Pet Sitting and Doggie Day Care

For animal enthusiasts, a pet-sitting side hustle offers an easy setup and promotional path. Whether providing in-home care while owners work or travel or hosting pets in your own space for short-term or extended stays, it’s a rewarding venture. Note that certain states or areas might necessitate permits, so be sure to check local requirements. Additionally, consider offering pet insurance to boost your earnings.

The expenses for in-home care are minimal, but if you’re setting up in your own space, initial investments in kennels or gates might be necessary. Scout for clients and manage your gigs efficiently using popular pet-sitting platforms like Rover or Care.com. Alternatively, create your own booking and payment system using the free tools offered by Square.

6. Senior Sitting and Companion

Thanks to the advancements in at-home senior care, many families are choosing to care for their aging loved ones at home. This trend creates opportunities for individuals seeking to earn extra money by providing companionship or sitting services while the primary caregivers are unavailable. To enhance the credibility of your services, consider taking CPR and Activities of Daily Living (ADL) courses.

This side hustle typically incurs low costs. You can advertise your services and handle clients through caregiving platforms like Care.com, Sittercity, and Papa.com, or opt to manage your bookings and payments using Square if you prefer an independent approach.

7. Personal Assistant

Busy professionals often look for help managing their day-to-day tasks and often prefer having one person handle everything instead of using multiple service apps. This creates a great opportunity for a side hustler who enjoys ticking off various tasks from a to-do list, whether it’s grocery shopping, picking up dry cleaning, walking dogs, or ensuring kids safely reach their destinations.

Starting a personal assistant side gig usually doesn’t involve high costs, although in less urban areas, having a vehicle might be necessary. Popular platforms to offer personal assistant services include Thumbtack.com and TaskRabbit.com. You can also manage your own scheduling and payments using Square if you prefer.

8. Babysitting and Child Care

Providing babysitting and in-home child care is a highly sought-after service, presenting a great opportunity to earn extra income in your spare time or according to a set schedule. While certification isn’t mandatory in most areas, the American Red Cross offers babysitting certification courses, available online or in person, covering CPR, first aid, and effective behavior management techniques, enhancing your credibility.

Typically, this side hustle doesn’t involve significant costs. You can promote your services, handle assignments, and receive payments via apps like Care.com, Sittercity, and UrbanSitter. Alternatively, if you prefer greater autonomy, you can manage your scheduling and payments using Square.

9. Mobile Car Washing and Detailing

Offering car washing services is a cost-effective side hustle, perfect for those who enjoy working outdoors. You can provide this service to individuals at their residences or partner with local businesses that manage fleet vehicles or desire to offer weekly car washes as a staff benefit.

The primary startup costs for this side hustle include cleaning tools, a reliable hose and nozzle, and a vehicle. You can utilize mobile car wash gigs and payment apps like MobileWash and Spiffy. Alternatively, if you prefer more control, you can manage your own bookings and payments using Square.

10. Local Handyman

Are you the go-to person among your friends for fixing a light switch or installing a ceiling fan? Capitalize on your handyman skills during your free time by assisting your neighbors with their home improvement tasks. To build trust and credibility with your clients and protect yourself, you can opt to get insured and bonded, although this isn’t mandatory in most places.

The expenses for this side hustle are minimal, especially if you already own the necessary tools. Utilize handyman apps like Thumbtack.com, TaskRabbit, and Angi to advertise your services, manage jobs, and handle payments. Alternatively, if you prefer more control, set up your own scheduling and payments using Square.

11. Virtual Assistant

Delving into the realm of virtual assistants, one encounters a multifaceted landscape where these digital envoys juggle a plethora of online duties. These encompass the orchestration of appointments, the meticulous curation of customer emails, the intricate structuring of travel logistics, the meticulous artistry of data entry, and a myriad more. Should one possess an adeptness with technology and an innate sense of organization, the transition into the virtual assistant sphere emerges as an awe-inspiring pathway toward pocketing a supplementary income while ensconced within the sanctuary of home during one’s leisure hours.

This grand endeavor necessitates but a duo of indispensable instruments: a dependable, steadfast computer tethered to the boundless expanse of the internet. It is within these digital sanctuaries that platforms like TaskRabbit, ChatterBoss, and Upwork coalesce, acting as virtual springboards for these multifaceted assistants. These platforms, in their splendid orchestration, extend a supporting arm, facilitating the marketing of services, the nimble management of tasks, and the adept navigation through the labyrinth of payment conduits. However, should one harbor a desire for enhanced independence and autonomy, the gallant option of orchestrating personal bookings and securing payments is wielded through the instrumentality of Square.

12. Sell at Local Markets and Festivals

Engaging in product-centric side hustles often involves profiting through the sale of unique items sourced or crafted by the hustlers themselves, showcased at local markets and fairs. While this endeavor demands considerable time for travel and setup, it serves as a rewarding pursuit for those who relish social interactions and revel in the camaraderie of face-to-face engagements. Moreover, these in-person sales serve as fertile ground for nurturing brand recognition and amplifying visibility across online platforms, fostering sales even during interludes between market appearances.

Embarking on this venture encompasses a spectrum of startup costs, spanning from a modest sum to more substantial investments, contingent upon the stocking needs for your booth. To mitigate initial financial outlays, align with suppliers offering support for returns of unsold inventory or focus on personalized, made-to-order items that do not necessitate substantial stockpiling. Faire emerges as a commendable avenue for procuring distinctive resale and private-label merchandise while facilitating returns for unsold inventory. Additionally, integrating a free Square account enables seamless acceptance of in-person card payments, facilitates efficient sales tracking through a sleek mobile Point-of-Sale system, and synergizes with your Square e-commerce website for cohesive online-offline sales synchronization.

13. Tutoring and Instruction

Are your talents rooted in academia, music, fine arts, or sports? The demand for tutors and personal instructors remains incessant, unveiling a myriad of flexible opportunities for side hustles. You can promote instructional services both in-person and virtually, catering to parents seeking convenient sessions for their children while also considering the prospect of adult learners. Adults, keen on broadening their horizons, often avail themselves of sessions even during traditional school hours, offering flexibility for your side hustle schedule.

Launching into this venture typically incurs minimal startup costs, presenting a gateway adorned with apps and online platforms like Wyzant, Skooli, and TakeLessons.com. These platforms serve as hubs to market your services, oversee engagements, and facilitate seamless payments. Alternatively, should you prefer a hands-on approach, managing bookings and payments independently becomes feasible through the utilization of Square.

14. Self-publishing Ebooks

Self-publishing ebooks emerge as a promising side hustle, tailor-made for writers; however, mastery in the art of wordsmithing isn’t a prerequisite to seize this opportunity. Should you possess the knack for spinning a captivating tale or elucidating a procedural guide, the enlistment of ghostwriters and editors becomes a viable route to finesse and refine your work. Subsequently, utilizing platforms like Amazon’s Kindle Direct Publishing, Smashwords, Barnes & Noble Press, and Lulu, among others, facilitates the publication process, beckoning the anticipation of burgeoning royalties.

The fiscal landscape of self-publishing ebooks exhibits remarkable variability in costs. For those venturing to craft their literary opus and conceive original cover art, the expenses remain minimal. Conversely, authors seeking professional cover designs and editorial prowess often allocate upwards of $100 per title for publication. Ghostwriters command fees upwards of $200, contingent upon the manuscript’s length and complexity. Although many ebook platforms offer free publication, they levy a percentage of the sale price, while additional costs materialize through marketing endeavors.

15. Online Courses and Coaching

Do you happen to have expertise in a specific field? Monetizing your expertise through the creation and sale of online courses and coaching programs during your spare moments presents a promising side hustle opportunity. Thanks to the advent of user-friendly and cost-effective online course platforms, launching this venture has become effortlessly attainable. Coupled with strategic utilization of social media, ebooks, YouTube, and blogging, these online courses and coaching side hustles have the potential to burgeon into a profitable enterprise.

The landscape of costs and platforms in this domain boasts a spectrum of options. Platforms like Udemy, Thinkific, and Podia streamline the course creation process and offer avenues for personalized coaching. While most of these platforms entail monthly fees or retain a fraction of the course fee upon sale, they provide comprehensive support. Alternatively, incorporating online courses and exclusive member content into website platforms such as WordPress, Squarespace, Wix, and others empowers the creation of a personalized branded platform tailored to your vision.

16. Digital Product Sales

Do you possess a knack for creativity? Crafting and selling digital products in your spare time presents itself as a low to no-cost side hustle endeavor. Digital art, logos, music, photography, video, and website design templates comprise a thriving market. By digitally creating these items and making them available for download through your website, social media channels, and various digital product platforms, you can capitalize on this burgeoning market.

The pathway to creating digital products can be forged through your own graphic, photo, video, or music software. Alternatively, you can leverage free online platforms like Canva, PhotoPea, or the Garageband app for your creative pursuits. Monetizing your creations becomes feasible through channels like your personal website, an Etsy store, or by uploading your work to creative marketplaces such as Canva, Envato Market, Creative Fabrica, Shutterstock, iTunes, SoundCloud, and numerous others.

17. YouTube Channel

Engaging in YouTube side hustles offers a remarkable avenue to generate income during your spare moments by sharing your expertise, discussing current events, or offering entertainment. YouTube, being an open platform, allows for monetization once you’ve attained a minimum of 1,000 subscribers and an average of over 4,000 hours of video views annually. Though it may require time and effort, achieving these benchmarks can pave the way to earning substantial monthly income. Numerous committed side hustlers have successfully transformed their YouTube channels into lucrative full-time ventures.

YouTube welcomes users without any membership fees, offering the liberty to upload an unlimited number of videos at no cost. Crafting videos can be accomplished using a smartphone equipped with a quality camera alongside free video editing applications like iMovie, Loom, Canva, and AdobeSpark. To expand the reach of your YouTube channel, leveraging low-cost YouTube advertisements and sharing videos across your blog and social media profiles can significantly bolster growth.

18. Create a Podcast

Podcasting stands out as another prevalent, cost-effective side hustle idea that’s straightforward to initiate and cultivate. Podcasts, comprising pre-recorded audio files, enable you to craft, refine, and distribute content through podcasting services, granting listeners the flexibility to access episodes at their convenience. The monetization avenues for podcasts encompass advertising, sponsored content, integrating affiliate links within podcast descriptions, and offering paid subscriptions.

Launching and managing a podcast demands minimal expenses. You can utilize built-in audio recording apps on your smartphone, tablet, or computer for recording and editing purposes. Subsequently, these episodes can be uploaded to dedicated channels created on platforms such as iTunes, Anchor, Buzzsprout, and various others. While some platforms offer free plans, many extend premium paid options supporting earnings through paid listener subscriptions, downloads, and sharing ad revenue.

19. Influencer Marketing

Influencer marketers who thrive have mastered the art of crafting a brand presence by sharing captivating content across various platforms, encompassing an affiliate website, blog, podcast channel, social media profiles, and YouTube channel. Their revenue streams stem from diverse content formats, spanning product reviews, engaging videos, informative tutorials, daring social commentary, and more.

Launching an influencer brand as a side hustle is within reach, leveraging avenues like affiliate links, ad revenue, and sponsored content for monetization once your content garners a substantial viewership and follower base. For instance, earning through YouTube necessitates 1,000 channel subscribers and 4,000 hours of yearly views, whereas Facebook Reels profiles demand 100,000 reel plays within 30 days to initiate payouts.

Embarking on this journey incurs minimal costs, especially on social media and YouTube where account creation comes without any fees. Establishing a website and blog can be initiated for free or at a low cost using platforms like WordPress, SquareSpace, and Wix, among others, with the flexibility to upgrade storage and features as your audience and content expand.

20. Viral Social Media Creator

Crafting viral social media content spans various formats, presenting an opportunity for monetization if you possess the knack for its creation. Leading platforms like Facebook, TikTok, and Instagram offer creator programs that enable the monetization of diverse content, ranging from engaging entertainment shorts to informative how-to guides and commentary videos. While high viewership volumes are essential for earning, this side hustle promises a fun and cost-effective avenue with considerable income potential.

This side hustle venture entails no initial costs. Social media platforms provide free access, allowing unlimited uploads of posts and videos. Additionally, most platforms furnish complimentary post and video creation tools, thereby requiring nothing more than a cell phone equipped with a camera to commence your journey.

21. Become an E-commerce Reseller

Numerous thriving side hustles revolve around traditional e-commerce models, involving the procurement, stocking, and sale of a varied inventory sourced from multiple vendors. This pursuit demands more upfront investment and dedication in comparison to other side hustle concepts. Nonetheless, many entrepreneurs have cultivated thriving full-time ventures from this endeavor. To bolster earnings, one can diversify by integrating standard e-commerce sales with Print-on-Demand (POD) goods, dropshipping products, and affiliate blogging income.

Launching into this side hustle usually incurs initial costs ranging between $500 to $5000 or more, contingent upon the scale of initial stock purchases. However, entry into esteemed e-commerce platforms remains reasonably priced. Starter plans available on platforms like Shopify, WordPress with WooCommerce, and Weebly by Square encompass options ranging from free to a modest $29 per month.

22. Take Online Surveys

Numerous marketing research firms eagerly compensate individuals for their perspectives on a wide array of products, systems, and subjects. While this side hustle doesn’t contribute to building your own business, it serves as a simple method to earn extra income during your free time. Most survey platforms necessitate the creation of an online account and linkage to payment services like PayPal, Venmo, or CashApp. Subsequently, you can browse and enlist for surveys of interest through an app or online dashboard. Upon selection, completing the questionnaire or project typically results in payment within a few days. Compensation for surveys often ranges from $2 to $10 for brief time investments, while more exhaustive product reviews or questionnaires can fetch upwards of $100.

Engaging in this side hustle doesn’t entail any upfront or recurring fees. Reputable survey platforms like User Interviews, Survey Junkie, and Dscout refrain from charging such costs. However, navigating and applying for various opportunities can consume considerable time. To optimize efficiency, scrutinize survey or project descriptions to confirm that you align with their target demographic.

23. Test Apps and Platforms

Market research firms, as well as app and game developers, along with website designers, actively seek individuals of varying technical abilities to assess their platforms and furnish user feedback. Similar to online survey side hustles, app and platform testing doesn’t contribute to establishing a business. Nevertheless, with payouts ranging from $10 to $150 or even more for a few minutes or hours of your time, it can prove to be highly lucrative.

Participating in this side hustle entails zero costs as there are no expenses associated with applying for legitimate testing opportunities. Prominent platforms like Swagbucks, UserTesting, and Enroll stand out among the top choices for exploring app and software testing engagements.

24. Sell Artisan Products

If you have a passion for painting, woodworking, baking, sewing, knitting, or crafting handmade items, you can transform that passion into profit by selling artisanal products in your spare time. To capitalize on this side hustle, offer your ready-made or customized handcrafted goods for sale both online and at local fairs and markets.

While this side hustle requires initial investment in supplies and tools, you can start marketing and selling online with minimal upfront costs using platforms like Etsy, your personalized e-commerce website, and social media channels. For those aiming to sell both online and in person, platforms such as Square or Shopify are worth considering. These platforms provide comprehensive systems with seamlessly integrated online stores, retail Point-of-Sale (POS) applications, and mobile card readers.

25. Sell Goods Via Dropshipping

Dropshipping offers an avenue to set up a robust online store minus the hassle of purchasing, stocking, or handling the shipping of items sold. In this setup, expenses arise only for the items sold at the time of customer purchase. Storage, packaging, and shipping responsibilities rest with the dropship vendors, who then bill you for the wholesale item and shipping costs per order. Although managing your website and customer service can demand time, dropshipping stands as an affordable and straightforward entryway into e-commerce sales.

Foraying into this side hustle necessitates a dependable e-commerce platform that seamlessly integrates with dropshipping vendors. Optimal choices include platforms like Shopify, WordPress with WooCommerce, and BigCommerce. Reputed dropshipping suppliers such as Doba, AliExpress, and Sprocket serve as excellent starting points for assembling your product inventory.

26. Sell Print-on-Demand (POD) Products

Do you enjoy crafting engaging graphics or possess a knack for illustration or photography? You can translate your creativity into additional income by featuring your creations on a variety of Print-on-Demand (POD) products like t-shirts, mugs, pillows, wall décor, and more. This side hustle concept operates similarly to dropshipping as the POD vendor manages all the logistical aspects. Your role involves uploading your artwork and applying it to different printable items to curate a product assortment. Upon order placement, the POD vendor handles printing, packaging, and shipping, billing you for the wholesale cost and shipping fee.

Similar to dropshipping, you’ll require an e-commerce platform that seamlessly integrates with POD vendors like Shopify, WordPress with WooCommerce, or BigCommerce. To explore POD items, commencing with established suppliers such as Printful, CustomCat, and Printify is a solid starting point.

27. Self-Publish Print-on-Demand (POD) Books

Do you wield a pen or a brush, or perhaps, aspire to capitalize on the latest trends in self-publishing? If so, diving into the world of Print-on-Demand (POD) books might be the ideal side hustle for you. POD books encompass a wide spectrum, ranging from novels and nonfiction to notebooks, planners, cookbooks, coloring books, puzzle books, and beyond. Utilizing free or cost-effective online tools, you can craft these books and then upload the digital files onto POD book sales platforms. When a customer makes a purchase, the sales platform handles the printing and shipping of physical books while compensating you with a royalty.

Numerous free and budget-friendly platforms facilitate the creation of POD book files, such as Canva, Reedsy, and the BookBolt Studio. Listing your titles on leading POD bookseller platforms like Amazon Kindle Direct Publishing (KDP), Lulu, and IngramSpark entails no charges. Printing and shipping costs are only incurred upon book sale, eliminating any upfront print fees for this side hustle concept.

28. Sell Products Using Retail Arbitrage

Do you possess a keen eye for great deals and don’t shy away from a bit of price investigation? If so, retail arbitrage might just be the side hustle you’re seeking. This hustle involves snagging clearance and discounted products from retail stores and reselling them online at a higher price. With a readiness to explore local sales, conduct price comparisons across platforms like Amazon, WalMart.com, and other online marketplaces, and invest in purchasing goods, this hustle has the potential for substantial returns.

Engaging in retail arbitrage incurs upfront expenses for purchasing and shipping products, coupled with the time investment required for store visits and price comparisons. However, leveraging free and budget-friendly price checker apps like Amazon Seller App, Profit Bandit, and Scoutly can aid in making astute buying decisions.

29. Sell Private Label Products

Many individuals pursuing side hustles craft distinctive branded products utilizing private label suppliers. These suppliers manufacture existing products but package them using your logo, labels, and distinct packaging specifications. This supplier approach is particularly suitable for a side hustle since most private label sellers have lower minimum order requirements compared to sourcing proprietary goods directly from a factory.

Private label items enable the creation of a comprehensive array of products, such as a line of cosmetics, a collection of kitchen tools, or a gourmet food brand, without necessitating a significant initial investment. Similar to various other product-centric side hustle ideas, you can wholesale private label goods or directly vend them through your personal website, social media platforms, and marketplaces like Amazon and Walmart.

Commencing a private label side hustle may entail startup costs ranging from a few hundred dollars to several thousand, contingent upon the specific items you intend to procure. Nevertheless, certain suppliers offer return policies for unsold items and facilitate dropshipping, thereby reducing your initial investment. Explore private label merchandise available on platforms like Faire, Alibaba.com, and Mana Products. Consider selling through a cost-effective e-commerce website using platforms such as Shopify, Weebly by Square, or WordPress with WooCommerce.

30. Sell Proprietary Goods

If you’ve got a product concept and are open to investing upfront, collaborating with factories to create proprietary goods might be your path. Numerous side hustlers opt to tweak existing products, make enhancements, and manufacture them at a reasonable expense. You can wholesale these items under your own label to retailers, and also retail directly to consumers through your website, Amazon, Walmart, and social media marketplaces. This side hustle idea has paved the way for many successful ventures, but it demands thorough research and effort to achieve success.

Initial costs for this endeavor can vary widely, ranging from a few hundred dollars to several thousand, contingent upon your product design specifications and factory orders. However, the primary cost primarily lies here. The search for factories and customized suppliers on Alibaba.com incurs no charges. Additionally, e-commerce platforms like Shopify, WordPress with WooCommerce, and Weebly by Square offer options ranging from free plans to just $29 per month.

Note: Side Hustles to Avoid

Certain side hustles appear to offer promising income opportunities. However, in truth, numerous ventures demand significant investments of time, money, or both, and often yield limited returns unless approached with a substantial commitment. Here are some warning signs to be mindful of when evaluating side hustle opportunities and gig work.

Hustles That Require Licensing or Certification

Salon services, real estate sales, and certified accounting and tax preparation are frequently recommended as prime side hustle options. Although these industries can yield substantial profits, acquiring the necessary education and obtaining licenses or certifications is imperative. To attain these qualifications, you’ll typically invest anywhere from $500 to $10,000 or more for initial education and cover initial and annual licensing fees in most states.

While this investment could prove rewarding if you aim to establish a career in these sectors, it’s crucial to acknowledge that it demands significant time and financial commitments, without assured returns if your goal is merely to earn supplementary income.

Multilevel Marketing (MLM) Schemes

MLM companies excel at presenting appealing financial opportunities and seemingly easy earnings, and indeed, many individuals succeed within this system. However, it’s crucial to thoroughly examine any MLM opportunity, taking into account its considerable costs and the necessary investment in products. Evaluating their sales and profit model is pivotal. Generally, significant profits in this model hinge on establishing a wide network of downstream salespeople, requiring continual time and dedication.

If you thrive in high-pressure sales environments, an MLM side hustle might suit your skill set. However, if that’s not your forte, there’s a risk of accumulating unsold inventory without the option of returning it, potentially resulting in minimal or no profits.

Side Hustle Coaching Programs

As you delve into different side hustle ideas, you’ll likely encounter coaching programs promoting substantial profits and the promise of rapid success. These are adept marketers who skillfully persuade you to invest hundreds or thousands of dollars in their seemingly “foolproof” systems. While certain coaching programs offer valuable techniques and sound advice, none guarantee instant wealth.

Prior to investing in any coaching program, consider exploring free resources on YouTube, Google, and Kindle Unlimited. You can find free videos, how-to articles, and e-books pertaining to the side hustle ideas that pique your interest. In most instances, ample free information is available to assist you in launching and nurturing your side hustle.

SiSu Freedom’s opinion

Engaging in side hustles presents an excellent means to supplement income, delve into passions, or initiate a new business during leisure hours. Given the myriad side hustle opportunities available, it’s prudent to assess the options and ascertain which align with your skills, objectives, budget, and time availability. It’s essential to acknowledge that no side hustle ensures guaranteed success or instant wealth, despite the assertions of some clever marketers and coaches. Similar to any business endeavor, a side hustle demands attention, dedication, and consistent effort. When managed effectively, they offer substantial potential for profit and expansion, potentially evolving into a full-fledged career.

Frequently Asked Questions (FAQs)

What is a side hustle?

A side hustle refers to a part-time job, freelance work, or business pursued during spare hours, often alongside a full-time job. Prominent side hustle concepts encompass running e-commerce stores, selling handmade crafts during weekends, providing tutoring services, and generating income through blogging with affiliates and advertisements.

How do I start a side hustle?

To embark on a side hustle, begin by pinpointing a skill, service, or product you can offer, then devise a strategy to reach potential clients or buyers. This might entail establishing a website and a presence on social media to promote your side hustle or registering with gig platforms that facilitate connections with potential clients. Additionally, you’ll require a platform to manage services or orders and handle payments, such as Square, PayPal Zettle, Shopify, or WordPress with WooCommerce.

What is the best side hustle job?

The ideal side hustle varies based on your distinct skills, resources, and aspirations. Freelancing, tutoring, dog walking, and selling handmade crafts offer flexible and passion-fueled opportunities. Conversely, blogging, e-commerce, and social influencer marketing are suitable for tech-savvy individuals. After identifying the hustles aligned with your skills and interests, assess their costs and profit potential to determine the most suitable option for you.

What is the best business structure?

The optimal business structure primarily relies on your company’s formation, industry, and objectives. However, a successful structure should enable your business to establish achievable goals and effectively execute planned tasks.

What is a small business?

The United States Census Bureau reports that most U.S. businesses have fewer than five employees. But do these qualify as “small businesses”? It’s a bit nuanced.

The definition of a small business revolves around the size of the company (number of employees) and/or its yearly earnings. These parameters vary across industries and aren’t uniform. Revenue thresholds can span from $1 million to $40 million, while employee limits can vary from 100 to over 1,500. The U.S. Small Business Administration (SBA) determines these standards.

The SBA maintains a Small Business Size Standards Table, detailing these criteria by industry, offering national guidelines. For instance, soybean farmers can earn up to $2 million annually, while retail bakeries must have fewer than 500 employees to be considered small businesses.

Though these specifics apply to the U.S., globally, many simply define small businesses as those with fewer than 250 employees.

Whether a business has 15 employees or 750, small businesses remain pivotal in the global economy and significantly contribute to U.S. financial growth. Managing a small business is demanding, yet it comes with distinctive advantages.

Are there benefits to being a small business?

Certainly! The definition of a business’s size directly impacts its eligibility for federal assistance. There are several key advantages that small businesses can leverage:

• Small Business Loans: The SBA can serve as a co-signer for small businesses seeking loans. Additionally, other banks offer small business loans, some with more favorable interest rates.
• Government Contracts: Access to federal contracts enables small businesses to compete on par with larger counterparts.
• Grants: Small businesses qualify for numerous grants aimed at fostering research and innovation. Since grants don’t require repayment, they provide substantial capital.
• Adaptability: With fewer employees comes streamlined internal processes, allowing small businesses to pivot swiftly and meet customers’ evolving needs.
• Uniqueness: Small businesses hold a special allure, drawing support from consumers seeking unique experiences. They often offer more personalized interactions compared to larger brands.
• Happiness: An impressive 74.86% of small business owners report being content with their work.

Small Business Employment Statistics

1. 99.9% of businesses across the US are small businesses

While big corporations often steal the limelight, the U.S. Small Business Administration reveals a different truth: the overwhelming majority of businesses in the U.S. are small enterprises. Surprisingly, there are a staggering 33.2 million small businesses spread across America.

2. Just 16% of small businesses have 1-19 employees

Although the majority of small businesses operate without any employees, 16% of them have a staff ranging from one to 19 individuals. Out of the 33.2 million small businesses, only 650,003 fall within the bracket of having 20 to 499 employees.

3. Nearly half of all U.S. employees are employed by a small business

Despite more than 80% of small businesses functioning without any employees, they collectively support a staggering 61.7 million workers. This vast number encompasses a substantial 46.4% of all employees in the United States, signifying a sizable workforce in contrast to the minority—less than 20%—of small businesses that maintain employees. This showcases the pivotal and impactful role small businesses assume in fostering employment opportunities, underlining their colossal significance not only in job creation but also in sustaining the broader societal framework of the nation.

4. Over 8 out of 10 small businesses have no employees

Out of the 33.2 million small businesses mentioned earlier, a striking 27.1 million are managed solely by a single owner and operate without any employees.

Small Business Job Creation

5. Small businesses have added over 12.9 million jobs in the last 25 years

While the typical small business is managed by a single founder, these enterprises remain significant sources of employment in the U.S. Within the last 25 years, small businesses have created nearly 13 million net new jobs. To put it in context, that amounts to approximately two-thirds of the total jobs contributed to the economy.

6. The professional and business services industry created over 1.1 million new jobs in the last year alone

Most of the recent job growth stems from the professional and business services sectors, contributing to over one million new positions in the past year. Conversely, reflecting the aftermath of the pandemic, the leisure and hospitality industries faced substantial job losses.

Overall, the job market has steadily rebounded over the last year, witnessing a surge in employment by 5.8 million—exceeding February 2020 levels by 240,000 positions.

7. The industry with the highest projected job growth is home health and personal care

Although the education and health services sector presently boasts the most job openings, the home health and personal care industry is poised for remarkable growth. Projections indicate a staggering surge of 924% in the coming decade. This forecasted expansion in the home health and personal care domains aligns with the escalating demand attributed to the disproportionate increase in the aging population compared to younger generations.

8. The industry with the most job openings in the education and health services industry

The demand for professionals in the education and health services sector isn’t a hidden fact, partly stemming from limited supply. Presently, this industry records the highest number of job openings. For individuals, it signifies a promising field offering job stability. Yet, for businesses, it implies a need to heavily invest in attracting and retaining staff in these industries.

9. The leisure and hospitality industry saw the biggest loss of jobs in 2022

From February 2020, the Leisure and Hospitality sector suffered a loss of 633,000 jobs. Yet, the industry stands on the brink of a significant rebound post-pandemic. Travel has not only resumed but has also witnessed a considerable surge in demand, spurred by the lifting of stay-at-home orders and the relaxation of international travel restrictions.

10. D.C. and New York have the highest unemployment rates in the nation

As per the latest data, the District of Columbia, the nation’s capital, holds the highest unemployment rate in the country at 5.1%. Following closely behind is New York at 4.7%. On the opposite side of the spectrum, Minnesota boasts the lowest unemployment rate, standing at a mere 1.9%.

11. Unemployment rates remain least affected in largely rural states

Even as D.C. and New York witnessed significant spikes in unemployment rates, Arkansas, Nebraska, and Oklahoma maintained relatively stable rates, closely aligning with the previous year’s figures. This trend might suggest a potential correlation between rural states, population density, and unemployment rates. States with higher population densities tend to exhibit greater potential for elevated unemployment rates.

12. Only 14% of jobs lost during the pandemic will be recovered in 2023

In the upcoming year, employment in the U.S. is forecasted to grow by 1.3 million jobs. However, this follows significant job losses caused by the pandemic. According to the Bureau of Labor Statistics, the U.S. faced a loss of 9.6 million jobs due to COVID-19 between May 2020 and September 2022. Consequently, the projected job growth for 2023 represents only a fraction of the pandemic-related losses. This underscores that although the nation is on the path to recovery, it still has a considerable distance to cover.

13. The fastest-growing industries are healthcare and social assistance

The healthcare and social assistance sectors not only demonstrate the highest survival rate among all industries but also stand out as the fastest-growing industry.

14. By 2031, only 87% of jobs lost during covid will be recovered

Estimates indicate that the U.S. will require slightly over a decade to completely recover from the job losses incurred during the pandemic. Based on available employment forecasts, a growth of 8.3 million jobs is anticipated by 2031. However, this figure represents only 87% of the 9.6 million jobs lost during the pandemic.

15. The industry that will add the most jobs is individual and family services

The individual and family services sector is anticipated to experience the most substantial growth, estimated to contribute over one million jobs between 2019 and 2029. Following closely behind is the computer systems and design industry, forecasted to add more than 574,000 jobs over the next decade, marking the second-highest job growth in the country.

Small Business Salaries & Wages

16. The average salary of a small business owner is just 3% above the annual mean wage in the U.S.

While business owners and entrepreneurs might constitute some of the wealthiest individuals globally, the average salary for a small business owner sits merely 3% above the national average mean wage of $58,260 at $60,151. It’s important to note that the average income for business owners varies significantly. On the lower end, small business owners typically earn an average salary of $29,000, while at the higher end, they can earn as much as $128,000, based on pay rate data sourced from Payscale.

17. Hourly earnings have increased over 5% over the last year

In the past year, hourly earnings have risen by 5.2%, while the average weekly hours dropped slightly by 0.1 hours to 34.5 hours in August. However, the annual inflation rate in the U.S. over the last 12 months stands at 7.7%. This discrepancy indicates that the growth in annual earnings does not match the escalating inflation rate.

Small Business Ownership Statistics

18. More small businesses are owned by males than females

While the gender gap is gradually reducing, women currently own only 43.2% of small businesses. Racial minorities hold ownership of 19.4% of small businesses, with Hispanics accounting for 13.8% of this subset. Veterans, on the other hand, are one of the least represented groups, owning merely 6.4% of small businesses in the U.S.

19. Millennials own just 7% of small businesses in the U.S.

Although the millennial generation is often seen as notably entrepreneurial, they only own about seven percent of small businesses. Gen Z follows closely behind, accounting for just one percent of small business ownership. Meanwhile, the majority of small businesses are owned by Boomers and Gen X, showcasing a clear “generation gap” in business ownership. Given that the reported average age to start a business is around 35 years old, it’s plausible that the younger generation might need a bit more time for their aspirations of business ownership to align with reality.

Online & E-Commerce Business Statistics

20. Nearly 1 out of 3 businesses still don’t have a website

Despite living in an era where building and maintaining websites has become simpler and more cost-effective, thanks to code-free website builders and extensive online resources, only 71% of businesses possess a website. Surprisingly, nearly one-third of businesses opt to remain website-free, with 20% utilizing social media as a substitute for creating a website. However, this approach might not be widely recommended, considering that millions rely on Google to explore businesses, whether for choosing a place to dine or purchasing an automobile.

21. Over 25% of business is conducted online

Still uncertain about the necessity of having a business website? Consider this: in 2021, there were 230.5 million e-commerce shoppers, accounting for over a quarter of all business transactions conducted online. With movement restrictions during the pandemic, consumers increasingly turned to the Internet for shopping, not just for items like apparel and footwear but also for groceries, alcohol, prescription medications, counseling, and various other goods and services.

22. Over three-quarters of shoppers visit a business’s website before their physical location

Operating in person doesn’t negate the need for brick-and-mortar businesses to have a website. Surprisingly, 76% of online shoppers reportedly browse a business’s website before actually visiting their physical store or location. This shift reflects the web as consumers’ primary destination. This trend benefits brick-and-mortar establishments, indicating that they need not rely solely on foot traffic or word of mouth to attract customers or clients to their doors.

Small Business Costs

23. Labor remains the number one cost for businesses at 70% of spending

Labor is the largest expense for most businesses, making up 70% of their spending and holding a considerable share of their budget. Because of this, it’s typical for businesses to prioritize cost-saving methods concerning labor expenses. These strategies could include layoffs, outsourcing tasks to more affordable staff in other countries, or introducing software that streamlines operations, thus decreasing the necessity for a larger workforce.

24. Inventory is the second biggest cost for small businesses

After labor, inventory stands as the next significant cost for businesses, typically comprising 17 to 25% of their budget on average. While inventory is expected to translate into revenue eventually, it poses a considerable initial expense for small businesses operating on constrained budgets. Consequently, the popularity of drop shipping is on the rise, along with smaller minimum quantity orders. These strategies aim to minimize the initial investment and storage space needed, not to mention reducing the risks associated with damage or spoilage of inventory.

25. Over half of all small businesses reportedly cut spending

Businesses are contending with a surge in inflation and increasing payroll costs, resulting in an overall uptick in operational expenses. This surge spans multiple facets, including heightened expenses related to human capital, materials, shipping, property taxes, building upkeep, and utilities. As a result, 57% of businesses undertook cost-cutting measures in the past year.

In response, businesses explored diverse strategies to reduce costs and minimize overhead. Some shifted entirely to remote work setups, cutting expenses associated with office space and in-office perks such as complimentary snacks and beverages. Others pursued more economical manufacturing contracts or suppliers, while an alternative tactic involved leveraging artificial intelligence to reduce downtime and boost productivity.

26. Advertising accounts for just 1% of a business’s revenue on average

While there’s often talk of colossal advertising budgets and campaign expenditures, advertising accounts for merely one percent of the average business’s revenue. Currently, one of the most widely used advertising channels, utilized by 55% of businesses, is social media. This popularity is likely attributed to the value of a pay-per-click-based ad platform, where advertisers incur costs only when users engage with their ad. Additionally, the ease of use across these platforms and their wide accessibility make them appealing to businesses of all sizes and financial capacities.

Small Business Survival Statistics

27. Over 180,000 more small businesses opened than closed in the last year

Between March 2020 and March 2021, around 1.1 million new small businesses emerged, as per data from the U.S. Small Business Administration (SBA). This accounts for 180,528 more small businesses opening within this period than those that closed. This rise signifies a positive trend in business ownership and reflects a shift toward entrepreneurship following the pandemic’s widespread job losses.

28. 1 in 5 businesses fail within the first year

You’ve probably come across the statistic that portrays half of all businesses failing. However, this stat doesn’t reveal the full story. To gain a comprehensive understanding, consider that 20% of businesses fail in their first year, followed by 30% in the second year, and finally reaching 50% by the fifth year. This emphasizes the pivotal importance of the initial five years for new ventures.

29. Nearly half of businesses fail due to a lack of market demand

Among the businesses that fail within the initial five years, 42% do so due to a lack of market demand, as per data. This underscores the crucial importance of validating market demand before diving into a new venture. Moreover, it might indicate a gap in marketing strategies where there could be existing demand, yet a lack of awareness resulting in minimal interest or demand for the business, its services, and/or products.

30. The professional, scientific, and technical services industry has the highest failure rate

When it comes to failure rates by industry, the professional, scientific, and technical services sector exhibits the highest rate at 19.4% in the initial year. This high rate could be attributed to the industry’s dynamic and continually progressing nature. Its constant evolution not only affects the adoption rates of new products and services but also presents a moving target for businesses to navigate.

31. Running out of capital is the second most common reason small businesses fail

Following a lack of market demand, the subsequent leading cause of small business failure stands as running out of capital, accounting for 38% of cases. Initiating and managing a small business undoubtedly incurs significant expenses. Hence, business owners must accumulate sufficient capital to cover operational costs during the initial years until the business stabilizes and begins to generate profits rather than operating at a loss.

32. The industry with the highest survival rate is the healthcare and social assistance industries

The healthcare and social assistance industries exhibit the highest survival rates among sectors. Unlike the scientific and technical services industry, there’s typically a consistent demand for businesses operating within the healthcare sector. Despite ongoing evolution, the demand for healthcare services remains unwavering.

Conclusion: What do these statistics mean for small businesses?

Reviewing business statistics can provide small businesses with crucial insights. Data not only illuminates the broader business environment but also assists in forecasting future trends based on data patterns. While each business may interpret and apply data uniquely, this diversity in approach can offer a competitive edge to certain small businesses compared to those that do not actively analyze data.

The future of small businesses

Where is the future of small businesses headed? Small business statistics indicate the necessity for firms to adapt to the constantly evolving landscape, with technology playing a pivotal role in maintaining competitiveness.

For the 83% of small businesses planning to invest in technology soon, consider opting for an all-in-one solution for enhanced efficiency. Juggling between multiple tools consumes both time and resources that could be better allocated elsewhere.

Connected inventory performance solutions like Cin7 Core and Cin7 Omni serve as cloud-based inventory management software designed to provide growing product businesses with an automated, real-time overview of their entire inventory life cycle. By integrating with various applications, these solutions enable the consolidation, streamlining, automation, and scalability of inventory management—all from a single platform.

FAQ

What are the benefits of being a small business?

While small businesses encounter numerous challenges, they also possess several advantages over large corporations. Some of these key benefits include:

• Independence in your business and lifestyle
• Creative freedom
• Pride in your business
• Professional learning opportunities
• Close customer relationships

How many small businesses are there?

As of 2023, the United States is home to 33,185,559 small businesses.

How many businesses fail?

Typically, around 20% of businesses fail within their initial year. This failure rate climbs to 30% after the second year and reaches 50% by the fifth year. By the 10-year mark, it further rises to 65%.

How long does it take for a business to be profitable?

Around 40% of small businesses eventually turn profitable, often taking around two to three years. In the initial years, many business owners face losses or barely manage to break even.

What are the most used software types in business?

Typically, small businesses utilize anywhere between 25 and 50 SaaS tools. Surprisingly, about 80% of them feel they aren’t maximizing the full potential of these tools. Some of the most common tools employed by small businesses include:

• Accounting software
• Time tracking tools
• Project management systems
• Inventory management software
• Customer relationship management systems
• Communication tools
• Transactional/point-of-sale software

What Is Digital Marketing?

When it comes to digital marketing, whether it is called online marketing or internet-based marketing, the focus still revolves around harnessing digital technologies to attract potential buyers. Main target? Arouse interest and increase sales momentum for many products and services.

What makes digital marketing so appealing is the plethora of communication channels at your disposal. Think email, text messaging, the vast expansion of social media, and the ever-growing field of online advertising. It’s a playground full of opportunity, accessible through any gadget connected to the web.

Now, think of this guide as your treasure map in the vast sea of digital marketing. It’s a comprehensive resource filled with all the important information needed to build effective and impactful strategies tailored specifically to your business. Aspire to explore the essence of digital marketing, demystify the most effective methods, and delve into real-life cases that deliver astonishing and unprecedented results.

Why Is Digital Marketing Important in 2024?

Traditional marketing platforms like newspapers, broadcast television, and radio still hold significance, but their former dominance over vast audiences has waned. Success in marketing now hinges on reaching your audience where they reside, and today, that place is the internet.

In the United States alone, Statista reports a staggering 311 million internet users, a number continually on the rise. As digital usage skyrockets, so does the realm of opportunities for digital marketing. The significance isn’t solely due to the soaring internet usage; it’s crucial because the techniques employed in digital marketing yield extraordinary outcomes.

Recent Nielsen surveys among marketers revealed compelling statistics: 62% affirmed that social media marketing’s digital spending was either highly or very effective. Search marketing and online/mobile display marketing received commendable effectiveness ratings of 57% each, while online/mobile video soared to 58% in perceived effectiveness.

What Is a Digital Marketing Strategy?

A marketing plan lays out the roadmap you will take to achieve the goals set forth in your company’s business plan through marketing efforts. Meanwhile, a digital marketing strategy delves into the use of digital technology and communications to attract your target audience and convert prospects into customers.

Master digital marketing strategists use a variety of digital tools. From search engine optimization (SEO) to digital advertising, social media marketing, email marketing, and content marketing, these techniques work together to deliver exceptional results. Your digital strategy should meticulously detail the tools you will leverage and exactly how you will deploy them to benefit your business.

Types of Digital Marketing

Social Media Marketing

Looking at the statistics of social media usage is mind-boggling. An estimated 4.9 billion people globally are currently engaged in social media, and predictions suggest this number will soar to 5.9 billion by 2027.

As of 2024, the hierarchy remains stable: Facebook leads with a staggering 3.0 billion active users, followed by YouTube with 2.6 billion, WhatsApp and Instagram each boasting 2 billion users. LinkedIn holds strong with over 901 million users worldwide, while TikTok, Snapchat, Twitter, and Pinterest each command a user base of over 450 million. These expansive audiences present an array of opportunities for marketers.

One standout advantage of social media marketing is its accessibility. You don’t necessarily need a hefty budget to make an impact. Each platform offers free account creation, enabling immediate content sharing even without advertising funds. Additionally, these channels provide avenues for targeted paid advertising, facilitating tailored campaigns to reach your ideal audience.

Social media has proven its prowess in driving sales; a notable 78% of consumers admit to purchasing a product after encountering it on social platforms. To optimize outcomes, starting with one or two social channels and gradually expanding is advisable. Consistency in engagement is pivotal for success in social media marketing; regular interaction with your audience is key.

Search Engine Optimization (SEO)

Right now, there’s a strong likelihood that internet users are actively seeking the very products and services your business offers. However, these potential leads can only discover you if your company’s website prominently features on search engine results pages (SERPs). In essence, being visible and ranking high on Google search results are pivotal to being noticed.

Making an investment in search engine optimization (SEO) stands as one of the most astute marketing decisions you can make. Exceptional SEO practices can yield an ROI of 700% or even more. By strategizing upfront, you can ensure that your website content becomes easily discoverable by potential buyers. Moreover, employing compelling content and marketing messages aids in converting more website visitors into actual buyers.

For those working within a constrained budget, kickstarting your SEO journey is feasible using free tools like Google Keyword Planner and Google Trends for preliminary research. There are also paid SEO tools available that streamline the research and planning process, providing comprehensive insights to enhance your Google and other search engine rankings.

Understanding the intricacies of SEO can be intricate, and if it’s unfamiliar territory, hiring an expert could be a wise choice. Top-tier SEO services cover every facet of SEO, encompassing technical aspects, on- and off-page strategies, link-building, mobile optimization, keyword research, and SEO-driven content creation.

Search Engine Marketing (SEM)

There was a time when search engine marketing (SEM) encompassed all aspects of search-based marketing, including organic traffic growth-oriented SEO and fee-related paid SEO for sponsored posts with premium visibility on SERPs. However, in today’s landscape, SEM primarily denotes paid search initiatives.

SEM proves to be highly effective, especially for businesses that believe their potential customers are actively searching the Internet for relevant products or services with a genuine intention to purchase. For example, someone searching for “electrician near me” is likely close to hiring an electrician.

In general, the higher your business ranks on Google, the more traffic your website will attract. Therefore, investing in paid advertising to ensure higher rankings can give your company a competitive edge over your competitors.

Video Marketing

Video holds such paramount significance in today’s marketing landscape that it demands special acknowledgment as one of the most potent and captivating digital marketing strategies for fostering business expansion.

The versatility of video marketing spans across various platforms—from embedding videos on your website to leveraging them on social media platforms, incorporating them as a facet of content marketing, or integrating them into influencer marketing endeavors. According to a study conducted by animated video production company Wyzowl, a staggering 87% of marketers attested that video marketing contributed to a surge in sales, while an overwhelming 92% acknowledged video’s commendable return on investment.

Marketers frequently utilize diverse video formats such as sales pitches, explainer videos, testimonials, and product demonstrations. As per the Wyzowl study in 2022, a substantial 71% of marketers integrated videos into their social media strategies.

Email Marketing

Email marketing, although a longstanding tool, remains a potent asset in the arsenal of marketers. As of 2023, the staggering volume of emails sent and received daily surpasses 347 billion, projected to escalate to 376 billion by 2025. Notably, for every dollar invested in email marketing, an average return of $36 is garnered.

To harness the potential of email marketing, employing specialized software becomes imperative. Premium email marketing software simplifies contact management, facilitates email design and dissemination, and tracks crucial performance metrics like email open rates and conversions.

Numerous businesses opt for comprehensive customer relationship management (CRM) systems to handle contact databases and orchestrate email marketing initiatives. Identifying the ideal software hinges on aligning with your precise business requirements. SiSu Freedom identified leading marketing CRMs for small businesses, citing HubSpot, Salesforce, Zoho, and Zendesk as among the top contenders.

Content Marketing

In 1996, during a meeting at the American Society of Newspaper Editors, John F. Oppendahl coined the term “content marketing.” Since then, marketers have embraced this phrase to encompass all communication forms that offer value to specific audiences. A robust content marketing strategy has the potential to yield significant results by fostering a loyal following and driving sales through compelling content.

Content marketing takes various shapes—written, auditory, visual, or video-based. Blogs, e-books, case studies, infographics, white papers, podcasts, checklists, how-to guides, and both short- and long-form videos are widely used for content marketing. Engaging in content marketing or boosting content visibility spans platforms such as websites and social channels.

Effective content marketing strategies provide valuable insights that resonate with potential buyers’ needs and desires. Content can inform, entertain, educate, or persuade, but the emphasis should steer away from overt sales pitches and focus on being influential or enlightening. Exceptional content has the potential to go viral as audiences share content that resonates with others sharing similar needs and interests.

Podcast Marketing

Have you contemplated initiating a podcast for your business? Or delving into advertising prospects on influential podcasts within your industry? Both strategies hold significant value within the realm of digital marketing.

Numerous businesses utilize podcasting to heighten product visibility and fortify their brand as a credible authority. There’s a range of avenues to explore when tapping into the potential of podcast marketing. You might opt to launch your podcast, engage as a guest on industry-specific podcasts, or invest in advertising slots on niche podcast platforms.

Influencer Marketing

The surge in social media usage and the emergence of social stars with expansive fan bases have ignited a rapid ascent in influencer marketing in recent times.

Influencers boast large or precisely targeted audiences that diligently follow them across various social media platforms. As their title suggests, influencers possess the ability to leverage their “influence” to encourage their followers to purchase specific products or services. For instance, a mere Instagram post by someone like Selena Gomez, who commands over 420 million followers, featuring a particular brand’s mascara, could catapult sales for that product.

While an influencer’s endorsements hold sway over purchasing decisions, they come at a cost. Influencers charge a fee for promoting products and services to their audience. These fees fluctuate based on factors such as follower count, audience engagement, and the nature of the post—whether it’s a brief mention or an extensive personalized promotion.

While some influencers boast millions of social followers, others cater to smaller but potentially ideal audiences for specific brands. Influencer marketing can prove to be an invaluable asset for businesses that match their target consumers with an influencer’s fan base.

Short Message Service (SMS) Marketing

SMS or text marketing involves reaching potential buyers through simple text messages. It boasts exceptionally high open rates, with studies revealing that recipients open an impressive 98% of text messages.

However, SMS comes with its limitations. A single message allows only 160 characters, and there’s no room for visual design. Moreover, complying with the Telephone Consumer Protection Act (TCPA) mandates obtaining written permission before sending promotional texts—yet not everyone eagerly subscribes to receiving advertisements on their phones.

To embark on SMS marketing, partnering with a texting service is key. Top-notch mass texting services streamline the process, enabling your company’s marketing messages to efficiently reach your customer and prospect base.

What Are the Benefits of Digital Marketing?

Each form of digital marketing offers its unique advantages. For instance, LinkedIn marketing proves effective for connecting with business professionals, whereas Instagram and TikTok present boundless opportunities for B2C businesses. On the other hand, email marketing facilitates sustaining an online rapport with your contact base, while content marketing enables the delivery of substantial value to potential buyers.

Here are some key advantages of digital marketing:

• Accessible for every budget: Whether starting small or aiming for more significant outcomes, digital marketing offers options adaptable to various budgets.
• Viral potential: Engaging content tends to be widely shared in the digital realm, amplifying your marketing outreach as it gets circulated.
• Simple initiation: Basic digital marketing efforts require minimal essentials—a social account, a smartphone, or a computer—to kickstart your strategy.
• Behavior tracking: Most digital marketing forms enable tracking content views and engagement, allowing insights into viewer actions post-engagement.
• High ROI potential: When executed effectively, digital marketing holds the potential to yield remarkable returns on investment (ROI).

Digital Marketing Examples

If you spend time on any digital device during the day, chances are you come across numerous instances of digital marketing techniques. Here, we showcase how companies utilize content marketing, influencer marketing, and video marketing to promote their businesses.

Content Marketing Example

E-books stand as a favored content marketing tool. The key to their success lies in providing enough perceived value for individuals to share their contact information—typically an email, occasionally a physical address or phone number—to access them.

HubSpot, a leading provider of top-notch marketing CRMs, showcases a diverse range of free e-books on its website. They actively promote these resources through email and social media marketing, showcasing just one facet of HubSpot’s comprehensive digital marketing strategies.

Influencer Marketing Example

Gymshark, a British fitness wear brand, heavily embraces influencer marketing. One of their influential campaigns revolved around the idea that it takes 66 days to transform your life. To materialize this campaign, Gymshark collaborated with six TikTok influencers to propagate this message. Each influencer labeled their posts with #gymshark66, resulting in the campaign amassing over 45.5 million views.

Rahmel Dockery, renowned as @realdockery on TikTok with 4 million followers, is among Gymshark’s influencers. His TikTok post, tagged with @gymshark and #gymshark, garnered 3 million likes, 10.9 thousand comments, and 42.9 thousand shares. This significant outreach from a single post underscores the potency of partnering with fitting influencers for business endeavors.

Video Marketing Example

We learned about the marketing operations of monday.com, a cloud-based platform that helps businesses manage projects, tasks, and workflows. Using diverse digital marketing techniques, especially video, the company uses short-form videos to showcase the advantages and capabilities of its products. These videos are hosted on YouTube and widely promoted on the company’s website and social channels.

Digital Marketing Costs

The costs of digital marketing can be intricate to discern. Expenses in marketing fluctuate depending on the methods employed, the size and characteristics of the audience, policies set by advertisers and influencers, the software utilized, and the expenses incurred in creating digital promotional content.

Engaging in DIY digital marketing through social media might incur minimal expenses, while extensive ventures in email marketing, influencer marketing, and video marketing can extend into the thousands. The table provided below furnishes an outline of the expenses related to various types of digital marketing endeavors.

Frequently Asked Questions

What are the types of digital marketing?

The widely favored types of digital marketing encompass email marketing, SEO, influencer marketing, SMS marketing, and social media marketing. Additionally, content marketing, video marketing, and paid search stand out as excellent digital marketing techniques.

What is the easiest type of digital marketing?

Though every marketing endeavor demands a robust strategy, social media marketing stands as one of the simplest facets of digital marketing to commence. You can establish a free account on various social channels like Facebook, TikTok, Instagram, YouTube, Pinterest, Snapchat, LinkedIn, or others. Once your account is active, you can promptly share valuable content about your products and services.

What is the best digital marketing platform?

The ideal digital marketing platform aligns with where your target audience invests their time. B2B businesses often find LinkedIn as a primary platform. Google Ads serves as an excellent choice for local service-based businesses. Meanwhile, consumer goods and services thrive on Instagram and TikTok, the leading digital platforms for this sector.

What is the best social media management software for digital marketers?

The top-notch social media management software includes Buffer, SocialPilot, and Sprout Social. Hootsuite excels at managing multiple platforms, whereas Zoho Social stands out for individual creators.

Is digital marketing a good career?

A career in digital marketing proves excellent for individuals passionate about marketing, equipped with strong communication skills, and at ease with digital technologies. Consider pursuing an online digital marketing degree to kick-start your journey to success in this field.

What Is Hostwinds?

Founded in 2010 and headquartered in Seattle, Washington, Hostwinds functions as a web hosting company. They focus on a variety of web hosting services, encompassing shared, VPS, dedicated servers, and cloud hosting. They aim to provide reliable and cost-effective web hosting solutions to businesses and individuals worldwide. Hostwinds is acknowledged for its exceptional customer service, swift dedicated servers, and easy-to-navigate control panel.

Let’s learn more about Hostwinds with SiSu Freedom in this article!

How Hostwinds Works

Hostwinds provides web hosting services for customers seeking to place their websites or web applications online. They run data centers worldwide and manage servers to support this.

They offer various hosting options:

• Shared Hosting: Ideal for small businesses or individuals not needing extensive server resources. It lets multiple websites share server resources like CPU, RAM, and disk space. Features include a free SSL certificate, cPanel control panel, a one-click app installer, and unlimited email accounts and subdomains.
• Business Hosting: Tailored for high-traffic websites with demanding workloads. Utilizes Solid-State Drives (SSD) and offers increased CPU processing time, higher node limits, and outbound email limits.
• Reseller Hosting: This enables individuals or businesses to buy Hostwinds’ hosting packages and resell them without mentioning Hostwinds. Users get a control panel to manage hosting accounts and create custom plans, perfect for web designers or entrepreneurs offering hosting services.
• White Label Reseller: Allows users to sell hosting plans under their brand while using Hostwinds’ infrastructure and support. Clients receive web hosting services under the user’s company name and branding.
• VPS Hosting: Provides a virtual private server (VPS) to host websites or applications. Hostwinds offers four Windows and Linux-based hosting plans.
• Dedicated Hosting: Offers fully customizable servers for specific needs. Users can select server configurations, including the operating system, RAM, storage, bandwidth, and IP addresses.
• Cloud Hosting: Flexible hosting solutions that can scale as per business requirements.

Is Hostwinds Right for Me?

Hostwinds suits small businesses seeking unlimited storage and bandwidth, particularly if expecting substantial website traffic. Yet, those seeking more cost-effective alternatives might consider other providers, as many competitors offer comparable features at lower rates.

Hostwinds caters to:

• Customers and businesses in search of diverse hosting options: With shared, VPS, dedicated, and reseller hosting, Hostwinds provides a variety of plans to suit different needs.
• Web developers, designers, and entrepreneurs: Offering hosting packages for resale with Hostwinds managing the technical side, along with full root access, various operating systems, customizable server setups, and a 99.9999% SLA.
• Small and medium-sized businesses: Hostwinds’ business hosting packages include solid-state drives, an updated cPanel, a simple Softaculous installation, and a Weebly website builder.

Hostwinds might not be suitable for:

• Customers looking for more affordable options: Its plans are slightly pricier compared to competitors, making it less ideal for budget-conscious users.
• Businesses requiring comprehensive backups: Hostwinds’ cloud hosting backups are an additional purchase, and they don’t allow a single add-on for multiple hosting plans.
• E-commerce businesses: Hostwinds lacks hosting plans tailored specifically for e-commerce, suggesting that better alternatives might be found elsewhere for such businesses.

What Sets Hostwinds Apart

Hostwinds proudly asserts full ownership of its servers, systems, and infrastructure, enabling swift and economical issue resolution. This, the company asserts, allows for passing on cost savings to its customers.

Every plan includes unlimited storage, bandwidth, and email accounts. Additionally, they provide complimentary website migration handled by support experts, assisting in devising personalized migration strategies.

Hostwinds Features

Hostwinds provides a strong lineup of features designed to fulfill the requirements of users in search of dependable and versatile hosting. This solution streamlines website migration, offers free SSL certificates, and ensures unlimited storage and bandwidth.

Storage and Bandwidth Limits

Hostwinds provides limitless bandwidth and disk space, extending even to its Basic plan. This allows unrestricted data flow between websites and visitors, without any caps or additional charges. On the other hand, unmetered bandwidth imposes boundaries on bandwidth usage. While it doesn’t limit visitor data transfer, it might impose speed limitations on the server.

Extras and Inclusions

Hostwinds packages encompass complimentary SSL certificates, a free domain, and a dedicated IP. The promotional deal is applicable solely for the initial billing cycle. Post that period, the price renews at a marginally higher rate.

Ease of Use

Hostwinds offers an intuitive control panel to oversee your hosting account, equipped with convenient features like one-click app installations, a powerful website builder, file management tools, swift shortcuts, and email account creation utilities.

User Dashboard/cPanel

Hostwinds’ cPanel offers website management features. Within the dashboard, you’ll find a file manager, email accounts for hosted domains, and FTP accounts. Additionally, there’s the choice to back up the entire cPanel or utilize Apache SpamAssassin for spam elimination.

Security

Hostwinds employs Secure Socket Layer (SSL) protocol and Internet Encryption Software to handle sensitive data, like credit card information. Free AutoSSL certificates are provided on shared and business hosting accounts. Additionally, RapidSSL and WildCard SSL certificates are available for an extra fee.

Nightly Backups

Hostwinds conducts daily website backups to safeguard crucial data and files. In case of issues like malware attacks, you can restore your website to a relatively recent version. Furthermore, you have the freedom to retain your backups indefinitely and access them whenever needed. This feature stands out as basic shared hosting plans often offer backups biweekly, weekly, or none at all, making this level of backup frequency quite uncommon.

Weebly Website Builder

The shared and business hosting plans offer Weebly, a user-friendly drag-and-drop website builder. It’s perfect for new small business owners aiming to build straightforward websites independently. With diverse themes available, you can personalize the layout and ensure it’s mobile-friendly. Alternatively, you can opt for other website builders like WordPress.

Hostwinds Performance

To thoroughly evaluate Hostwinds, we conducted multiple performance tests spanning several months. Employing GTmetrix, we assessed full-page loading speeds, while Sucuri helped gauge international load speeds. Additionally, UptimeRobot was utilized to measure site uptime – as you might have guessed.

Our testing utilized a website designed to replicate a fully functional site, incorporating HD images, JavaScript, and various other elements.

Sucuri

The international loading times showcased significant variation, ranging from an average of 0.697 seconds as the fastest to 4.364 seconds as the slowest, with an average of 3.338 seconds.

Performance near the data center was commendable, but notably poor in other regions. Hostwinds provides only three data centers – Seattle, Dallas, and Amsterdam – so locations outside these areas might experience slower loading times.

GTmetrix

The complete page load times spanned from a speedy 0.9 seconds to a slower 2.9 seconds, averaging 1.82 seconds. Generally, it’s advisable to maintain website load times under 2 seconds to retain user engagement, as visitors tend to leave beyond this threshold.

Your website’s performance significantly influences how people perceive your company and brand, making it an essential consideration. For business-oriented sites, opting for one of the Business plans or selecting a host with consistently superior performance might be preferable – for instance, Hostinger, which secured the highest score for shared hosting in our performance assessment.

UptimeRobot

The server uptime is claimed to be 99.9999%. However, over a span of three months, UptimeRobot documented an uptime of 99.982%. It’s not particularly poor, but it falls short of the assurance made by the marketing department.

SiSu Freedom’s Verdict

Hostwinds, a web hosting service, prides itself on swift speeds, 99.9999% server uptime, and unrestricted storage across all its plans. Customers appreciate the seamless website migration with just a few clicks and the provision of free SSL certificates. While Hostwinds caters to the preferences of small businesses with its feature set, its pricing tends to be higher compared to its competitors.

Pros

• Infinite storage and bandwidth
• Hostwinds possesses 100% ownership of its servers
• Around-the-clock customer support
• Nightly backups are included in the basic plan
• Complimentary SSL certificates
• Limitless subdomains

Cons

• The starting price for the most affordable plan is $5.24 per month
• No hosting specifically designed for e-commerce

Hostwinds Pricing and Plans

Basic

Unlike the majority of web hosting plans, every Hostwinds plan offers limitless storage and bandwidth, alongside an array of additional features like business email, a free SSL certificate, built-in security, and 24/7 support. The Basic plan stands apart by providing hosting for a single website, starting at $5.24 per month in terms of pricing.

Advanced

Alongside all the features included in the Basic plan, the Advanced plan offers hosting for up to four websites, with pricing starting at $6.74 per month.

Ultimate

Building upon the Basic plan’s offerings, the Ultimate plan provides unlimited website hosting and starts at just $8.24 per month, making it an excellent value for businesses handling multiple websites.

Hostwinds Customer Service and Support

Hostwinds provides round-the-clock live chat and a ticketing system accessible for all paid plans. Additionally, users can access an extensive knowledge base from the account dashboard. However, it doesn’t offer phone support, which is a limitation.

Hostwinds Alternatives and How They Compare

Hostwinds vs. Namecheap

Namecheap provides diverse hosting plans: shared, WordPress, reseller, VPS, dedicated, and email hosting.

Each plan includes unmetered bandwidth, a free SSL certificate for one year, and a 20GB SSD storage limit. Conversely, Hostwinds offers unlimited disk space, hosting without limits, and a lifetime free SSL certificate.

Both offer customer support through live chat and a knowledge base. Regarding uptime guarantee, Namecheap’s 100% uptime slightly surpasses Hostwinds’ 99.9999% uptime.

Hostwinds vs. A2 Hosting

Hostwinds and A2 Hosting are recognized as prominent web hosting services in the market, providing similar services. Both assure uptime, unlimited bandwidth, free SSL certificates, robust cPanel, and business email.

Initially, A2 Hosting draws attention with its lower prices but lacks ample storage in its basic tier. Hostwinds, on the other hand, provides unlimited disk space, positioning itself as the preferable choice.

Hostwinds vs. Bluehost

A significant contrast between Hostwinds and Bluehost lies in their focus. Hostwinds offers various hosting plans, encompassing reseller, VPS, dedicated, and cloud hosting. Conversely, Bluehost excels in WordPress hosting.

Regrettably, Bluehost doesn’t disclose its uptime guarantee. Their most basic plan includes a 10GB SSD storage limit, while Hostwinds provides unlimited disk space. For an affordable WordPress hosting solution, Bluehost stands out. However, if you desire a broader range of hosting options and an intuitive interface, Hostwinds might be the preferable choice.

SiSu Freedom’s Expert Opinion

Hostwinds suits entrepreneurs, designers, web developers, and small to medium-sized businesses seeking dependable hosting services. It provides unlimited bandwidth and disk space, free SSL certificates, and free website migration. Additionally, it features a Weebly website builder for creating websites and conducts nightly backups for securing sensitive data.

Frequently Asked Questions (FAQs)

Is Hostwinds a good web host?

Hostwinds’ shared hosting plans fall in the middle ground when compared to other hosts. While it’s not subpar, it also doesn’t notably distinguish itself. However, Hostwinds’ prices are higher than those offered by its strongest competitors. If you seek budget-friendly yet impressive hosting, checking out Hostinger’s latest deals might be worthwhile.

Is Hostwinds’ VPS hosting any good?

Certainly, VPS hosting typically outperforms shared hosting, and Hostwinds’ VPS hosting likely follows this trend. Hostwinds’ VPS plans are notably cost-effective compared to numerous other providers. If you’re venturing into your first VPS experience, Hostwinds might be worth considering purely based on pricing.

Does Hostwinds offer shared hosting?

Yes, Hostwinds provides shared hosting among its array of services. Since this review primarily focuses on shared hosting, if you seek specifics, I highly suggest scrolling back up. To reinforce my previous statement: it’s decent, but there’s room for improvement.

How do you reach Hostwinds’ support?

The Hostwinds support team is available 24/7 through phone, live chat, email, and the ticket system. If you’re interested in details about support, consider scrolling back up to the support section. My personal experience with the support team was somewhat uncertain. Nonetheless, there are indeed ample avenues to contact them.

What is shared hosting?

Shared hosting involves sharing a server with other websites. You’ll have your own account and occasionally a dedicated IP address for hosting your website. Depending on the web hosting service, the company may back up all server data, encompassing that of other users. This cost-effective plan is suitable for most website types.

Where is Hostwinds based?

Hostwinds LLC, headquartered in Seattle, is renowned as a prominent web hosting company, recognized for its comprehensive range of services including shared server hosting, VPS hosting, cloud hosting, and dedicated server hosting.

What is the best-shared web hosting service?

The ideal shared web hosting service for your team hinges on your specific requirements. Hosting platforms differ in their features, pricing, and additional offerings. Considering these factors, HostGator emerged as our top choice among shared web hosting platforms.

What is a dedicated web server?

In contrast to a shared hosting plan, a dedicated web server is a service where your website resides on its own server. The primary advantage is enhanced security and faster speeds, especially beneficial for high-traffic websites. However, this option comes at a higher cost.

What Is Performance Management Software?

Performance management software helps organizations oversee employee performance by allowing managers to set goals, track progress, and offer feedback. It also supports succession planning and conducting performance reviews.

Performance management software enables managers to assess an employee’s job performance efficiently. It offers a platform where managers and their team members can:

1. Collaboratively set goals.
2. Track the progress of these goals.
3. Provide and receive feedback.
4. Communicate both praise and concerns.

This software assists employees in establishing and monitoring their professional objectives, impacting managerial decisions regarding bonuses and promotions. Conversely, it provides context for underperforming employees, aiding managers in finding ways to better support them through training, reassignment, or a performance improvement plan (PIP). Therefore, performance management software plays a crucial role in enhancing employee engagement, satisfaction, and ultimately, retention within the organization.

Moreover, the software facilitates ongoing communication between employees and managers by offering question prompts and enabling note-taking within the system. This ensures that issues are addressed promptly and fosters alignment between both parties. Additionally, these software solutions often integrate feedback not only from the manager but also from team members, assessing an employee’s ability to collaborate effectively within a team dynamic.

SiSu Freedom has assembled a list of the best performance management software for 2024 to assist you in making well-informed choices.

What Should You Look for in Performance Review Software?

When seeking suitable performance review software, consider these aspects:

1. User-Friendliness: Opt for a platform accessible to both managers and employees, ensuring easy navigation.
2. Customization: Look for software adaptable to your organization’s specific performance metrics and objectives.
3. Integration: Choose software that smoothly integrates with other tools your organization utilizes, streamlining data transfer.
4. Reporting and Analytics: Prioritize software with strong reporting and analytics capabilities to derive data-driven insights on workforce trends, strengths, and areas needing enhancement.

How Much Does Performance Management Software Cost?

The cost of performance management software varies significantly, ranging from $0 to over $1,000 per month. This pricing depends on the software’s features, offered integrations, and the number of users. Some performance management tools are part of a comprehensive platform, which might entail a higher price commitment.

Certain standalone performance management tools have free versions:

• FlowyTeam for one user
• Charma for up to four users
• Profit.co for up to five users

Other standalone software typically starts around $4 per person per month.

Here are examples of per-user prices from various performance management software vendors:

• Lattice: $4-$11 per person per month
• 15Five: $4-$16 per person per month
• Leapsome begins at $8 per individual per month
• PerformYard: $5-$10 per person per month

The number of employees in your organization plays a crucial role in determining costs. Small businesses and startups might consider free software options, but it’s essential to assess whether paid software, with more advanced features, aligns with your budget. Depending on your company size and financial plan, upgrading your current HRIS or HRMS to include performance management or choosing the add-on option might be a worthwhile consideration.

The Best Performance Management Software of 2024

1. Lattice: Best for Career Tracks

Lattice, topping the list, stands as a premier performance management software in the market. It boasts an extensive range of features encompassing goal tracking, compensation reviews, analytics, continuous feedback, public celebrations, onboarding, surveys, competencies, development plans, career tracking, and AI sentiment analysis. Their performance management plans, incorporating OKRs and goals, commence at $11 per person per month, while more streamlined options are accessible at $4 per person per month.

Lattice proves to be an ideal selection for businesses of various sizes and industries due to its comprehensive performance management suite.

Features:

• Automated rules, inline notes, and tags, along with pre-designed templates.
• Effortless integration with over 20 HR and productivity tools.
• Clear and transparent pricing.
• Among the top choices for performance management software, especially for expanding enterprises and HR teams.

2. Namely: Best Overall

Namely’s performance management software stands out as an excellent option for mid-sized businesses seeking an all-encompassing HR solution. It includes key performance management features like goal tracking, alignment, 360-degree feedback, performance reviews, competencies, and recognition. Additionally, it functions as a recruitment tool by aiding in job posting and syndication, applicant tracking, background checks, and offer letters.

Namely proves to be an ideal choice for medium-sized businesses requiring a thorough human resources solution.

Features:

• Management of Documents: Organizing and handling various types of documents.
• Integration with Email: Incorporating or connecting with email systems for streamlined communication.
• HR and Payroll Services: Providing services related to human resources and payroll management.
• Managing Payroll: Handling and overseeing payroll-related processes.
• Task Organization: Structuring and managing tasks efficiently.
• Employee Database: Maintaining a comprehensive record of employee information.
• Mobile Application: Accessing and utilizing services or features through a mobile app.
• Onboarding Processes: Facilitating procedures for integrating new employees into the organization.

3. BambooHR: Best for Its Mobile App

BambooHR secures the 3rd position among the Best Performance Management Software options. This mobile application empowers managers to establish, monitor, and distribute goals for individuals and teams. Notifications promptly alert progress updates, new comments, and goal completion. Managers conveniently overview their team’s progress on a single screen. Moreover, it enables precise feedback collection and insights from colleagues.

BambooHR stands out as the prime selection for businesses seeking a performance management system integrated with a mobile application.

Features:

• Excellent features for tracking time and vacations.
• Robust and customizable employee onboarding modules.
• Simple creation of organizational charts.
• Employee performance functionalities, including a structured performance review process.

4. Paycor: Best for Templates

Paycor offers top-tier performance management templates designed to aid in goal setting, conducting performance reviews, and delivering engaging feedback to employees. Access to performance data and analytics allows for trend identification and areas requiring enhancement. Notable features encompass team insights, coaching strategies derived from employee ratings, and personalized tools. Moreover, seamless integration with Outlook and Gmail adds to its functionality.

For businesses seeking a performance management template, Paycor stands as the ideal choice.

Features:

• Paycor provides analytics and charts for simplifying the interpretation of workforce data.
• The software discerns the drivers influencing specific workforce trends and compares your business to industry benchmarks.
• Paycor’s powerful tools streamline employee recruitment, onboarding, time tracking, and payroll management.
• Both the Paycor web app and mobile app offer user-friendly interfaces.

5. Synergita: Best for Sentiment Analysis

Synergita’s performance management software emerges as an unparalleled choice for businesses focused on elevating employee performance through the utilization of AI-powered sentiment analysis. By harnessing the prowess of machine learning, this software delves deep into feedback data, meticulously evaluating performance while swiftly identifying potential issues right from their inception. Its expansive repertoire of features comprises the establishment of performance goals, fostering peer appreciation, facilitating impactful one-on-one meetings, conducting perceptive employee perception surveys, incorporating comprehensive 360-degree feedback mechanisms, and crafting strategic development plans.

Features:

• Continuous Feedback and Coaching: Enables continual feedback and coaching dialogues to foster ongoing improvement initiatives.
• Performance Assessment: Streamlines performance evaluations while establishing connections between performance and incentives.
• Talent Cultivation: Identifies individuals with high potential, nurtures their growth, and assists in succession planning endeavors.
• Data-Powered Decision-Making: Accesses data to facilitate informed choices for performance assessments, culture evaluations, and high-potential (HIPO) assessments.

6. Workday: Best for Skills Management

Developing the talent within your organization stands as a vital strategy in performance management, and Workday’s array of skills management tools simplifies this process. Through this tool, you gain the ability to pinpoint skill deficiencies, monitor employee advancement toward objectives, and devise comprehensive development strategies. Additionally, leveraging performance management and succession planning functionalities aids in the identification of high-potential employees and the creation of succession plans.

For businesses seeking performance management software with robust skills management capabilities, Workday proves to be the ideal choice.

Features:

• Personal Details: Modify your home address, phone number, and emergency contacts.
• Employee Benefits: Access information regarding benefits.
• Payment Records, Tax Forms, and Direct Deposits: Review payslips, and tax documents, and manage direct deposit details.
• Hour Records: Keep track of timesheets.
• Expenditures: Manage and record expenses.
• Interactive Organizational Charts: Access and interact with organizational charts.
• Leave Management: Handle requests for time off.
• Employee Performance Appraisals: Access and conduct performance reviews.

7. PerformYard: Best for Continuous Feedback

PerformYard secures the 7th spot among the listed performance management software options. It serves as a robust choice for businesses striving to elevate performance and amplify employee engagement using continuous feedback. The platform’s user-friendly interface streamlines feedback collection and swift sharing, fostering prompt resolution of performance issues. Moreover, it offers various features such as goal management, reviews, reminders, and dynamic goal-setting abilities.

Features:

• Effortless creation of hierarchy and reviewer assignments
• Robust and adaptable goal-setting system
• Contemporary user interface
• Highly customizable

8. Engagedly: Best for Integrations

Coming in at number 8 on the list, Engagedly’s Performance Management Software is an optimal choice for businesses looking for third-party integration to monitor employee performance and link data. Performance data with other business systems. Included in these integrations are Google SSO, Okta, Personio, ADP Marketplace, Gusto, Slack, BizLibrary, and Paylocity. Additionally, it offers performance assessments, goal tracking, analytics, and in-depth features.

Features:

• Setting and aligning employee goals
• Immediate feedback and acknowledgment
• Tools for learning and development
• Assessing competencies and tracking skills

9. Reviewsnap: Best for Goal Setting

Reviewsnap performance management software presents a reliable option for businesses seeking to enhance employee performance through goal setting. It allows assigning values to SMART goals, task addition for goal achievement plans, attaching supporting documentation for goal progress, and accessing real-time data and analytics on goal performance. Additional features encompass performance reviews and 360-degree feedback.

Reviewsnap, part of Trakstar, follows on our list. The company website hints at an upcoming rebranding to “Trakstar Perform.” Specific details regarding these changes remain unclear at the time of publication.

Features:

• Managing Employees
• Handling Applications
• Reviewing Appraisal History
• Managing Compensation
• Employee Profiles
• Managing Feedback
• Managing Goals
• Setting and Tracking Goals
• Performing Ad hoc Analysis
• Generating Ad Hoc Reports
• Implementing Cascading Goals
• Tracking Competencies
• Creating Custom Rating Scales
• Designing Custom Review Forms

10. Trakstar: Best for Coaching

Coaching is a performance management strategy that can help employees improve performance and achieve their goals. Trakstar’s performance management software includes a coaching feature that first equips leaders with the skills needed to become great leaders, then leaders can help their employees in their career plans. Other features include SMART goals, real-time reporting, engagement surveys, and continuous feedback.

Trakstar is the top choice for businesses wanting performance management software with coaching tools.

Features:

• Performance Reviews: Unlimited reviews, customizable competencies and scales, and detailed metrics tracking.
• 360-degree Feedback: Gather feedback from internal and external sources, and manage reviewer control.
• Goal Setting/Management: Create and update multiple goals, SMART/cascading goals, and task management.
• Employee Engagement: Pulse surveys, opinion polls, manager check-ins, real-time dashboards.
• Succession Planning: Identify internal candidates using a performance and growth potential grid.

Compare Top Performance Management Software

How To Choose the Best Performance Management Software

To determine the ideal performance management software for your needs, evaluate key features, reporting capabilities, its compatibility with your tech setup, and other relevant factors.

Essential Features

Key components within performance management software encompass goal establishment, structured check-ins, and diverse feedback channels. This software streamlines performance management by consolidating real-time data regarding employee objectives and their advancements. Structured check-ins, it ensure focused discussions between managers and employees, nurturing employee development and achievements.

Moreover, this software facilitates feedback receipt not just from managers but also from peers, customers, and other invested parties. Various feedback mechanisms, such as 360-degree reviews and individual meeting notes, enrich the array of feedback avenues within performance management systems.

Analytics and Reporting

Analytical and reporting instruments don’t just monitor software utilization; they also chart an employee’s advancement toward their objective(s). These usage analyses aid HR teams in evaluating the effectiveness of the performance management tool and determining potential avenues for maximizing its utility within the workforce.

Progress reports play a pivotal role in maintaining employee drive toward attaining their professional aspirations. They empower managers to discern high achievers from those facing challenges, enabling tailored support strategies for each category.

Integrations

The preferred performance management solution should seamlessly operate and communicate with other applications commonly used by your employees, like the learning management system. Without this integration, there’s a risk of duplicated or lost information, leading to user frustration when navigating multiple tools.

Ease of Use

Effortless usability is crucial for performance management software; otherwise, it becomes a hindrance, elongating critical processes like annual employee reviews. For instance, employees should seamlessly add and adjust their goals, while incoming managers must easily access notes from their employees’ previous supervisors.

Customer Support and Training

Utilize available demos and trials to explore the software, and engage the vendor regarding their customer service and implementation support. Additionally, customer reviews can offer valuable insights into how effectively the solution bolsters performance management procedures.

Free vs. Paid Performance Management Software

Performance management software that’s free tends to come with minimal features and often has limitations on user numbers. Conversely, paid versions offer more advanced functionalities, and the pricing structure may be contingent on the number of users.

Providers commonly present a range of pricing models, spanning from free options to “freemium” offerings and fully paid products. The free versions cater well to small businesses seeking fundamental features. However, as these companies expand, they might consider upgrading to the paid version for access to enhanced functionalities.

Cloud-based performance management software pricing models often include monthly or annual subscriptions, offering potential cost savings. On the other hand, on-premises software solutions typically involve a one-time licensing fee.

Performance Management Best Practices

Best practices in performance management encompass several key aspects:

• Establish Clear Goals: Collaboratively set SMART goals aligning with team and business objectives, ensuring they are easily measurable and trackable.
• Utilize Software Solutions: Employ software tools to facilitate structured and secure tracking of goals and performance for both managers and employees.
• Conduct Regular Check-Ins: Foster frequent bi-weekly touchpoints between managers and employees, addressing performance issues promptly, even outside formal review periods.
• Embrace 360-Degree Feedback: Integrate feedback from various perspectives, including peers, direct reports, customers, and stakeholders. This holistic approach provides a comprehensive view of an employee’s performance, moving beyond just the manager’s viewpoint. 360 feedback also guides one-on-one performance review discussions.

Frequently Asked Questions (FAQs)

Is performance management software secure?

Creators of cloud-based performance management software regularly release updates, including security patches, to enhance data protection. This continuous improvement strengthens security measures, safeguarding review notes and sensitive information. Consequently, cloud-based performance management software emerges as a more secure choice compared to paper-based or on-premises alternatives.

Does my company need performance management software?

While performance management can function without software, integrating software can automate and enhance the entire process. Opting for performance management software can be a beneficial solution for businesses seeking to elevate their performance management practices.

What are performance management software integrations?

Integrations refer to the connections established by performance management software with other business systems like HRIS or payroll software. These integrations serve to automate performance management procedures and enhance the precision of data.

What are some common problems with performance management systems?

Users often face issues like underutilization, misuse, bias, and lack of structure with performance management software. To address these, conduct regular check-ins alongside annual or semiannual reviews. Managers guide goal-setting for effective metric tracking. Using structured prompts helps identify performance patterns.

Why is performance management important?

Performance management software is crucial as it structures employee-manager meetings, aids in goal setting, aligns employee goals with business objectives, and helps managers cater to individual employee needs.

What Is McAfee Antivirus?

McAfee, developed by the leading cybersecurity firm of the same name, is robust security software that shields computers and devices from malware, viruses, spyware, and diverse online dangers. This antivirus package offers features like identity monitoring, password management, a fire shredder, and firewall protection. It accommodates individuals and families with different plans. Forbes Advisor acknowledges McAfee as a top-notch antivirus solution thanks to its wide range of features.

How McAfee Antivirus Works

Installing McAfee Antivirus is a breeze. Just download the software’s install helper tool, log into your account, and then follow the steps to get the software up and running.

To install McAfee Antivirus, follow these three simple steps:

1. Download the McAfee Software Install Helper tool and launch it.
2. Sign in to your McAfee account. From there, you can handle your subscriptions, auto-renewal settings, downloads, and connected devices all in one place.
3. Begin the download and installation process. Ensure you agree to the license terms and adhere to the instructions provided. Depending on your device and internet speed, the installation could take around 15 minutes or more.

SiSu Crypto’s review of McAfee antivirus software

We believe McAfee is an excellent option for those seeking cost-effective antivirus software that provides real-time malware detection across all devices. Alongside the usual features present in most antivirus programs—such as firewalls, Wi-Fi security, password management, and PC optimization—McAfee offers extra functionalities. These encompass document shredders, PC cleaning tools, identity protection, and virtual private networks (VPNs).

Pros

• Accessible on Windows, Mac, Android, and iOS devices.
• Incorporates identity protection in every plan.
• Offers real-time malware detection.
• Provides a complimentary 30-day trial.

Cons

• Limited features on Mac and iOS
• Absence of a free plan
• Lacks email security

Is McAfee Antivirus Right for Me?

McAfee Antivirus suits:

• Individuals and families: Offering user-friendly plans for individuals and families, McAfee safeguards devices effectively. While its basic plan covers one device, premium options cater to unlimited devices.
• Businesses: McAfee’s enterprise-level security shields multiple network devices. With robust features like data encryption, web filtering, and advanced threat detection, it’s ideal for organizations to secure sensitive data and networks.

McAfee Antivirus isn’t recommended for:

• Mac and iOS users: While McAfee excels on Windows, its features are limited on Mac and iOS. Notably, features like App Lock, Guest Mode, and Track Data Usage are exclusive to Android, not iOS.
• Professionals seeking email security: McAfee lacks specific email security features, which might disappoint users seeking protection against spam or viruses in their emails.

What Sets McAfee Antivirus Apart

Even after more than thirty years since its initial product launch, McAfee now offers a diverse array of products tailored to meet various needs and budgets.

Here are McAfee’s product offerings for your different requirements:

• McAfee+ Advanced: Priced from $79.99 for the first year, this product provides protection and privacy through transaction, credit, and identity monitoring. It also includes personal data cleanup to prevent online personal information sales.
• McAfee Total Protection: As the flagship product, it offers antivirus for unlimited devices, secure VPN, full ID theft protection, and identity monitoring. Starting at $79.99 for the first year, it covers unlimited devices.
• McAfee Antivirus Essential: For basic protection against ransomware, online viruses, and malware for up to five devices, this plan costs $39.99 for the first year.
• McAfee Safe Connect: Starting at $39.99 per year for the first year, this package includes McAfee Secure VPN, offering bank-grade encryption, automatic protection, and anonymous browsing.
• McAfee Mobile: Protecting Android and iOS devices, the mobile apps offer distinct features designed for Apple and Android separately.
• McAfee’s Identity Protection Service begins at $89.99 annually for a single device and covers a one-time incident. It grants access to experts for identity restoration and includes support for lost wallets containing stolen IDs, credit cards, and debit cards.
• McAfee PC Optimizer: Priced at $34.99 for the first year, this optimizer helps declutter PCs and eliminate unnecessary background programs to improve speed.
• McAfee TechMaster Concierge: Starting at $69.95 for a single device, this service offers comprehensive tech assistance, including scanning, protection, app installation and configuration, and IoT device setup and protection.

McAfee Antivirus Features

Let’s explore the primary features provided by McAfee.

Antivirus Scanner

The Antivirus Scanner features two primary scan types: Real-Time Scanning and On-Demand Scanning. Real-Time Scanning actively detects and blocks threats in real-time as they emerge, halting infected files and averting potential damage or compromise to your computer or personal data.

On the other hand, On-Demand Scanning allows for targeted scans on specific files, folders, or software. It’s especially handy for removing suspected infected files and checking external storage devices.

Firewalls

Firewalls offer extra defense for your computer by managing both incoming and outgoing network traffic. They’re created to restrict unauthorized access to your home network and lower the chances of malware infiltration.

VPN

McAfee Safe Connect VPN safeguards up to five licenses. It encrypts your data to enhance privacy and grants access to 50 server locations globally, boosting internet speed.

Password Manager

The Password Manager securely handles your passwords and credit card details. It can create intricate, unique passwords for each account and automatically fill in your credentials for easy account access.

Parental Controls

Through the family plan, you can oversee and safeguard your children using parental controls. You have the ability to monitor your child’s device activity and track their location on a live map via your phone or desktop. Tailoring rules and time limits according to their age is possible. Additionally, your child can request more browsing time or access blocked websites using the family requests feature.

Security

McAfee provides various security features aimed at safeguarding your computer and personal data from cyber threats. Standout functionalities include the file shredder for securely deleting sensitive files and the Individual Protection Score, offering a metric for your online safety. Additionally, it offers antivirus, web protection, firewall, and expert online support among its array of features.

Browser Extensions

McAfee WebAdvisor is a free product available exclusively for Windows. It includes anti-phishing and anti-exploit capabilities, safeguarding you from malicious links and hackers. It employs safe browsing, using a color-coded system to highlight safe links. Moreover, it scans downloads to identify potential risks.

Identity Theft Protection

McAfee provides various identity theft protection features to secure your personal information. The software monitors your credit report and sends alerts when it detects suspicious activity. If your wallet is lost, McAfee assists in canceling and replacing your credit cards and government-issued IDs. In case of identity theft, licensed experts are available to aid in restoring your identity and credit.

McAfee Antivirus Pricing and Plans

Essential

McAfee’s Essential Plan stands as the fundamental antivirus software package, beginning at $39.99 for the initial year. It covers a password manager, VPN, and identity monitoring for up to five devices. Key security features encompass a file shredder, web protection, firewall, and antivirus.

Premium

Beyond the Essential plan offerings, the Premium plan extends coverage to unlimited devices. It also includes a personal data cleanup feature aimed at preventing the sale of your online identity.

Advanced

Building upon the Premium plan, the Advanced plan incorporates identity theft coverage, credit monitoring, lost wallet protection, and access to identity restoration experts. These attributes render it an excellent choice for individuals seeking to mitigate risks in the event of compromised financial accounts.

Pricing

McAfee offers various pricing options, spanning from individual plans to family plans. All subscriptions require a minimum one-year commitment as there are no monthly options available. However, with a 30-day money-back guarantee across all plans, you can explore which best fits your needs before committing.

McAfee plans to cater to one, five, 10, or an unlimited number of devices, so it’s essential to assess your requirements before signing up. Single-device plans offer most security features, making the upgrade to higher tiers primarily for covering multiple devices.

Customer Service and Support

McAfee provides round-the-clock live chat support for addressing customer inquiries. Additionally, it hosts a customer service portal featuring informative videos, extensive articles, and a support contact option for users.

McAfee Additional Features Worth Noting

McAfee offers various plans to accommodate diverse needs. However, McAfee Security Scan Plus is a free tool that scans your PC, identifying potential vulnerabilities and recommending necessary antivirus, firewall, or online protection measures. It’s a helpful tool to evaluate your system’s security requirements before making a purchase.

Fine Print

McAfee functions seamlessly on Windows and Android platforms, but its features are somewhat limited on iOS and Mac. Notably, features like App Lock, Guest Mode, and Track Data Usage are exclusive to Android apps, and not available on iOS.

The McAfee Scanner might impact system speed, particularly for resource-intensive applications. However, scheduling scans during non-active hours can help mitigate this issue’s impact.

McAfee Antivirus Alternatives and How They Compare

Like Avira and Avast, McAfee offers essential antivirus features like a VPN, parental controls, identity monitoring, and theft coverage. It’s priced similarly to Avira. Norton, on the other hand, is notably more affordable than its rivals. However, its basic features are mostly available in the higher-tier subscription plans.

McAfee Antivirus vs. Norton

McAfee Antivirus and Norton are well-known antivirus software programs that provide a strong defense against various types of malware, like viruses, spyware, adware, and ransomware. Usually, McAfee comes with a higher price tag compared to Norton. However, McAfee’s basic plans offer more bang for the buck due to features like a VPN and identity monitoring being included.

McAfee Antivirus vs. Avira

Each software provides a set of functionalities like firewall shielding, malware defense, and a file shredder. Avira prioritizes antivirus protection and adds a virtual private network (VPN) as an extra perk. In contrast, McAfee introduces a family plan catering to parents seeking to safeguard their kids from unsuitable online apps, behavior, and content. Avira’s premium packages can accommodate up to 25 devices, whereas McAfee’s top-tier plans extend coverage to an unlimited number of devices.

McAfee Antivirus vs. Avast

McAfee and Avast both stand as reliable antivirus software, yet the ideal pick hinges on your particular requirements and likings. Avast offers a free plan capable of blocking viruses, ransomware, malware, and spam—but its functionalities are restricted. On the other hand, while McAfee doesn’t have a free option, its main package includes a password manager, web protection, and compatibility across multiple platforms.

Frequently Asked Questions (FAQs)

Is McAfee a good antivirus?

McAfee stands as a top-tier antivirus, identifying malware in real-time to ensure your devices remain secure from online dangers. It provides unlimited plans suitable for multiple devices used either at home or in the office. McAfee antivirus is compatible with Windows, Android, iOS, and Mac operating systems.

Will McAfee slow down my computer?

Running active McAfee virus scans could potentially cause a slowdown in your computer’s performance. If you’ve observed a decrease in speed since installing McAfee, it might be due to the default setting of “Automatic Scans.” Disabling this and scheduling scans for times when the computer isn’t in active use can help maintain performance without noticeable slowdowns.

How much is McAfee per month?

McAfee solely provides yearly subscription options and doesn’t offer monthly plans. Opting for two-year plans unlocks significant discounts for subscribers.

Which is better: McAfee or Norton?

McAfee and Norton both provide top-notch antivirus software, boasting similar success rates in thwarting malware and safeguarding users from risky websites. Norton highlights faster scan speeds and boasts a robust dark web monitoring system, while McAfee stands out for its user-friendly interface and seems better tailored for business purposes.

What is Work Breakdown Structure?

The PMBOK® Guide—Third Edition from the Project Management Institute defines the Work Breakdown Structure (WBS) as a hierarchical breakdown of project work, organized by deliverables and aimed at achieving project objectives. It encompasses the entire scope of the project and becomes more detailed at each lower level. The WBS is divided into work packages and encompasses both internal and external deliverables.

In WBS project management, several terms are commonly associated:

1. Acceptance Criteria: Defined standards required to meet stakeholder or customer expectations.
2. Budget: Project-related expenses categorized by deliverables or phases.
3. Deliverables: Products, services, or outcomes produced at different project stages. For example, in a website design project, a deliverable-focused WBS might outline items like URL, layout, and written content.
4. Milestones: Key project stages identified within the WBS.
5. Phases: Different stages of a project’s lifecycle. In a website design project, a phase-oriented WBS might encompass stages like discovery, design, and launch, rather than specific deliverables.
6. WBS: Abbreviation for Work Breakdown Structure, the hierarchical decomposition of project work.

This framework helps in organizing and managing project tasks, ensuring clarity in objectives, and facilitating effective communication among team members and stakeholders.

Key Characteristics and Components of the WBS

The 100% rule stands as a pivotal element within a work breakdown structure (WBS). It dictates that the WBS comprehensively covers all project aspects, including the accountable individual or team for each component.

Another significant attribute of the WBS is its tiered arrangement. Adhering to the 100% rule, the initial tier (Level 1) of the WBS encapsulates the entirety of the project. In instances where the project’s essence isn’t self-evident, some WBSs may incorporate a summary or project overview at this top tier. Subsequent tiers progressively dissect the project into finer details, ensuring compliance with the 100% rule at every level. For example, in crafting a WBS for a fresh website, Level 1 might encompass “Website for New Brand.” Level 2 segments then delineate the specific deliverables essential for project fruition, such as securing the website URL, designing the layout, and developing content. Each ensuing tier further dissects these elements, refining the breakdown into more granular specifics.

Why a WBS Is Helpful for Project Management

The Work Breakdown Structure (WBS) proves its value in project management through various avenues. To start, it dissects the project into manageable segments, alleviating the sense of overwhelm.

Moreover, it serves as a navigational guide for disparate individuals and teams engaged in the project. With numerous teams concurrently operating, coordination and integration are vital. The WBS allows these groups to concentrate on their distinct responsibilities and outcomes while comprehending their role within the broader project framework.

Lastly, the WBS acts as a robust instrument for gauging project progress, pinpointing pivotal milestones, and distributing budgetary resources. Adherence to the 100% rule assures project managers of accurate budgeting, preventing surprises stemming from unforeseen deliverables that could impede progress.

How to Create a WBS in Project Manager

To effectively utilize a work breakdown structure (WBS), it’s crucial to encompass all project components (remembering the aforementioned 100% rule) while maintaining an optimal level of detail. Surprisingly, an excess of detail within the WBS can prove counterproductive.

Below outlines the procedure for crafting a WBS:

1. Define the project: Clearly outlining the project marks the initial phase in crafting a work breakdown structure. While some projects may present a straightforward definition, others might necessitate refining the project’s scope to ensure the WBS remains appropriately scaled and manageable.
2. Set project boundaries: Once the project is articulated, establish clear boundaries regarding what falls within the purview of the WBS.
3. Identify project deliverables: High-level deliverables associated with the project, such as a Project Scope Statement or Mission Statement, should be clearly identified.
4. Define Level 1 elements: Adhering to the 100% rule, articulate the Level 1 deliverables.
5. Break down Level 1 elements: Decomposition, the process of breaking down tasks into smaller fragments, follows for each Level 1 element. Apply the 100% rule iteratively, questioning whether further decomposition enhances project management. Continue until the answer indicates no further breakdown is necessary. Upon completion of this process for each Level 1 element, the WBS is finalized.
6. Identify team members: Assign responsibility to individuals or teams for each element delineated within the WBS.
7. Create a Gantt chart: Accompany the WBS with a Gantt chart illustrating project activities across time. This visual representation aids in comprehending project scheduling and its various tasks.

These steps ensure a systematic approach to constructing a comprehensive yet manageable WBS for effective project management.

Get a quick overview of how to create a WBS using a Gantt chart on the Web site www.projectmanager.com:

1. Identify Project Deliverables

The project life cycle encompasses five key stages: initiation, planning, execution, monitoring, and closure. Each stage yields specific deliverables crucial for achieving the ultimate project completion.

Distinguish the phases within your project beyond a simple task list. Utilize our milestone feature integrated into the Gantt chart tool to highlight and set these stages apart. For enhanced clarity, consider color-coding to distinctly mark and differentiate each phase.

2. List Subtasks, Describe Tasks & Set Task Owner

Side quests constitute integral components within broader and intricate quests. Similarly, in your WBS work package, they fit seamlessly as a feature. Incorporate summary tasks or work packages positioned above interconnected tasks. Depending on your WBS type preferences, these can represent either your project phases or project deliverables. Ensure to indent them for organizational clarity and structure.

3. Link Dependencies

Task dependencies refer to tasks that rely on the completion or initiation of another task. Establish connections between dependent tasks by dragging one task to the other. All four types of task dependencies are supported for linkage. Identifying these interdependent tasks at this stage prevents potential bottlenecks during the execution phase.

4. Set Resources & Costs

Resources encompass everything necessary to fulfill project phases, deliverables, and work packages. This includes team members, materials, supplies, and equipment. Leveraging your WBS enables the breakdown of project scope into work packages, facilitating resource and cost estimation.

5. Add Start & End Dates & Estimated Completion

Each task comes with a designated start and end date. Enter the task’s intended start date in the planned start date column and its projected completion date in the planned finish date column. Additionally, include an estimated completion column to denote the anticipated duration you’ve planned for each task.

6. Track Status of Control Accounts & Work Packages

Monitoring progress is the key to assessing if a project aligns with its planned trajectory. That’s where a WBS proves valuable with its control accounts and work packages. In terms of tasks, monitoring provides insights into various aspects: recorded hours, costs, priority, new communications, percentage completion, and a comparison between actual progress and the planned milestones.

7. Write Notes

Maintaining a section for notes is a wise practice. Despite the comprehensive nature of the WBS, there might be specific aspects that require attention and don’t neatly fit into its structured framework.

8. Generate Reports

Project reports glean insights from the project, providing visibility into its progress, overall status, costs, and other vital elements. Utilize our reporting tool to create a detailed report derived from your WBS. These reports condense project data and provide options to filter and showcase specific information. Moreover, they facilitate effortless sharing with stakeholders, enabling review and valuable insights.

Tips for making a work breakdown structure

When creating a work breakdown structure, adhere to these guidelines for optimal outcomes:

1. The 100% Rule: Ensure that your WBS covers 100% of the work needed to accomplish the primary goal, without incorporating irrelevant tasks. Additionally, child tasks within each level must encompass all the work required to complete the parent task.
2. Mutually Exclusive: Avoid duplicating sub-tasks or accounting for work multiple times. Violating the 100% rule can lead to miscalculations in determining project resources.
3. Focus on Outcomes, Not Actions: Concentrate on deliverables and outcomes rather than specific actions. For instance, in a bike-building project, a deliverable might be “the braking system,” while actions would involve tasks like “calibrating the brake pads.”
4. The 8/80 Rule: Determine suitable work package sizes using guidelines like the 8/80 rule, suggesting that a work package should demand no less than eight hours but no more than 80 hours of effort. Other suggestions involve considering no more than ten days’ effort or aligning with standard reporting periods. Apply common sense and judgment to decide what makes sense for your project.
5. Three Levels: Aim for around three levels of detail within your WBS. While some branches might have more subdivisions, maintaining an average of three levels ensures an appropriate scope and level of detail.
6. Assign Responsibilities: Assign each work package to a specific team or individual. A well-structured WBS eliminates work overlap, ensuring clear responsibilities for each task.

WBS Examples, Templates, and Tools

Work breakdown structure example

Consider this example while contemplating the creation of a work breakdown structure—a breakdown for constructing a house.

Observe how the principles of building a WBS are applied here. Initially, the house construction project is segmented into three major sections: foundation, exterior, and interior. These sections are then subdivided into one or two more levels, keeping the total levels to a maximum of three. The required effort for building the house is distributed among all the work packages, summing up to 100% effort. Notably, there’s no repetition of tasks depicted in this diagram. To enhance this representation further, consider incorporating the budget for each work package and assigning specific teams to each task.

Work breakdown structure template

Here are several work breakdown structure templates to kickstart your project. Easily access each template by clicking to open it, allowing you to personalize the information, layout, and design according to your needs.

Work breakdown structure tools

If you need additional support or require a more detailed and comprehensive WBS, consider using software tools. Platforms like WBS Schedule Pro and Microsoft Visio offer user-friendly software solutions to streamline the process. If you are still not satisfied, I can recommend more: EdrawMax, SmartDraw, Matchware, Lucidchart, Visual Paradigm, Creately, GanttPro, Zoho Projects.

Frequently Asked Questions

What is meant by work breakdown structure?

A work breakdown structure dissects a sizable project into smaller, manageable components. This simplifies the process for teams, aiding in scope identification, cost assessment, and the delegation of tasks to the most suitable team members for the job.

Why should project managers use a WBS?

A work breakdown structure enables project managers to grasp the project’s intricate details by displaying its individual components in a single document. It serves as a vital tool for communicating project budget and timeline details to key stakeholders, involving both individuals and project teams. Additionally, by dissecting the project into smaller elements, a WBS consolidates scope, cost, and deliverables into a unified and comprehensive tool.

How can a project manager get started with a WBS?

Numerous tools and software exist to aid in WBS creation. Platforms like Monday, ProjectManager, and Wrike provide templates and tools for guidance. For a more comprehensive approach, consider software options such as WBS Schedule Pro and Microsoft Visio.

Should you use a Gantt chart with WBS?

Quite a few project managers have discovered that Gantt charts complement WBS effectively. They assist teams in estimating the duration of individual tasks and visualizing the complete project timeline from initiation to completion.