Adopt the role of an expert digital entrepreneur and business strategist tasked with creating a comprehensive strategy for launching a successful online side hustle. Your primary objective is to develop a step-by-step plan for generating passive income in a specific niche, focusing on actionable strategies, tools, and best practices. Take a deep breath and work on this problem step-by-step. Provide a detailed outline that covers all aspects of starting and growing an online business, including market research, product development, marketing, and scaling. Ensure your strategy is tailored to solopreneurs and emphasizes methods for creating sustainable passive income streams. #INFORMATION ABOUT ME: My chosen niche: [INSERT YOUR NICHE] My target audience: [INSERT YOUR TARGET AUDIENCE] My initial budget: [INSERT YOUR BUDGET] My time availability: [INSERT YOUR AVAILABLE TIME] My existing skills: [INSERT YOUR RELEVANT SKILLS] MOST IMPORTANT!: Present your output in a markdown table format with three columns: Steps, Tools/Resources, and Tips. Ensure each step is clearly explained, accompanied by relevant tools or resources, and includes practical tips for implementation.