Why You Need A Side Hustle
Everyone needs a side hustle. What’s a side hustle? Well it’s a moneymaking project you start on the side, usually while working a day job. A side hustle is a bit like a hobby but with one big difference, most hobbies cost you money while a side hustle puts money in your pocket. And here’s the good news. It’s never been easier to start your own side hustle.
In his new book ‘Side Hustle’, my friend Chris Guillebeau breaks down how to take a side hustle from the ideas stage to the income stage in 27 days. Yep, that’s right...just 27 days. Here are some reasons why you might want to start a side hustle:
In this episode, you'll learn:
- What is a side hustle
- How to start a side hustle
- How to quit your day job
- How to create an additional stream of income
- Chris Guillebeau tips for side hustle creators
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Transcript
Everyone needs a side hustle. What’s a side hustle? Well it’s a moneymaking project you start on the side, usually while working a day job. A side hustle is a bit like a hobby but with one big difference, most hobbies cost you money while a side hustle puts money in your pocket. And here’s the good news. It’s never been easier to start your own side hustle.
In his new book ‘Side Hustle’, my friend Chris Guillebeau breaks down how to take a side hustle from the ideas stage to the income stage in 27 days. Yep, that’s right...just 27 days. Here are some reasons why you might want to start a side hustle:
Firstly some extra cash always comes in useful whether it’s to pay off a loan, purchase a big ticket item, book that much needed vacation, or just to create an emergency fund for a rainy day.
Another reason is to create a sustainable and ongoing revenue stream. I’m a big fan of this idea and over the years I’ve created online courses on subjects I’m interested in and these courses are still making money for me today. I call it my ‘Create It and Forget It’ strategy.
Thirdly a side hustle comes in very useful if you want to replace or exceed the income from your current job. Whether you love or hate your day job it’s useful to have the option of handing in your notice, secure in the knowledge that you have an independent source of income.
Chris gives some great examples of people just like you that have created their own side hustles. They include Nick, a guy who wanted to pay off a $2,500 loan so started reselling classic video games. Or there is Bob and Barb, a middle-aged couple from Philadelphia, making custom baseball jerseys which puts real money in their bank account each month. One of my favorites is Joe, a cancer research scientist who loves cocktails so much he created a very profitable side hustle selling ‘gin-making kits’.
Amongst my own friends and clients I know many musicians, writers, speakers, artists and designers who create and sell online courses as a way of providing a consistent side hustle income that supplements their main work.
I’ve created multiple side hustles when I wanted to purchase big ticket items. For example my first side hustle was a website listing details of music promoters and festivals to help musicians get gigs. I wanted to buy a new car and the loan would cost me $500 a month. So over a few weeks I created a website which quickly began generating in excess of $500 a month. On one occasion I wanted to attend a big-ticket seminar so I created a simple little online course on a subject I knew something about. Not only did the money I generate from that course allow me to purchase the ticket, that online course is still selling well today.
For a lot of creative people, coming up with side hustle ideas is not the biggest challenge, selecting the best idea is where things get difficult. You have so many promising ideas but can’t decide which one to pursue. Perhaps you have what we call ‘Paralysis by Analysis’. In his book Chris breaks down how to generate ideas, select your best idea, and then launch it into the world...all within 27 days.
In the meantime let me know in the comments below what your biggest challenges and questions are in starting your own side hustle. Thanks for watching.
