Episode 3: Why Its Time For A Serious Side Hustle
What’s up Lifestyle Creators! Welcome to episode 3 of ILC TV. If you’re new to ILC, we are excited you found us, be sure to subscribe, and stay plugged in to all we drop in the world of being an online entrepreneur.
In light of the most recent government shut down, we thought it would be a great time to put some emphasis on the importance of having a side hustle. We live in a time where we have the ability make money from anywhere in the world, doing almost anything imaginable. It’s simply a choice on whether you decide to take advantage of the time we live.
You may already have a business that you’re building and you’re looking for a way to really get some better results. This episode should provide some serious motivation to take things up a notch. When it comes to online business, there’s never a bad time to get started. However, when plan A is going well, that’s the perfect time to have a solid plan B.
Our advice, start something now! Just make sure it’s something you are passionate and get excited about. So if something changes with your job or career, believe me it can happen, you have something that you know can help sky rocket Your life in right direction. Just know it’s ok if your passion changes. Go with the flow and continue to pursue happiness.
Ryan’s Side Hustle Story:
Ryan was fired from his last job in 2014. So many people told him to go get another job, but he since he was making a consistent amount of money in his business he decided to go full time.
If you’re ever fired, let go, leave your job, etc. you must have the basics down. This way you won’t have the “panic” feeling as you go through thrips and downs of being an entrepreneur. Also this will ensure your confidence is way up. A vital piece to succeeding in anything. There’s a difference between leaving your job to go full force in your business when you haven’t quite mastered the fundamentals yet.
Another quick note, Ryan discovered he didn’t “need” the “6k/mo he was making at his job. He only had $3k in monthly expenses. So instead of thinking he had to make $6k/mo in his business he really only needed to make a little over $3k to have the means to walk away from the job… many of us make a certain amount at our job, but our monthly expenses are much less. Then we think in order to leave or job, to work our business full time we must match what we make. When in reality we only need to match what we need.
TIP 1 – Start something now! Don’t wait to put some time into your side hustle. There’s not a better time to start an online business.
Tip 2 –Get the fundamentals down
Get the basics right before you go full time. Once you’re making $1k/mo or more on a consistent basis. The basics are coming together.
Wesley’s Side Hustle Story –
When management changed, my job completely changed with it. My boss was fired and things got crazy for me. I eventually decided my time was served and quit that job.
My mom asked me what I was going to do and because I had built a solid foundation in my business I was able to leave my job with confidence, not panic, and search for another job immediately, and use the extra time to do more of what was already working.
Wesley's Key Take Away-
Side Hustles Give You Hope. If you’re currently in a job or career you know is not for you. There’s nothing better than knowing that those days are numbered due to your side hustle.
You don’t have to know the exact number of days. But showing up to a place knowing you could be there another 30-40 years. That’s no fun. The ability to create HOPE in your life is extremely powerful.
You’ll know when your time is up at a place when you start to think to yourself, “I cant afford to work here anymore”. That’s when you know. When working or spending time somewhere is costing you money in your business. Its time to go.
Tip 3 – Don’t Create Anxiety About Quitting Your Job.
Try your best not to put unnecessary pressure on your business. Believe that its going to happen because you said so. I know you want it to happen fast, but let it runs its course. You are always in the exact right place at the exact right time.
Tip 4 – Make sure you aren’t neglecting your main source of income.
Even though you should take your side hustle seriously if you want it to eventually be your main hustle. If you neglect your current main source of income you could jeopardize the income source that allows you to fund your side hustle.
Tip 5 – You can’t scale “0”.
If you’re thinking to yourself, “I don’t have the time to grow a side hustle” or “if I had more time I could really kill it”. Think again.
What are you able to do with the time you have now? $50/mo? 500/mo? $1k/mo? If you’re making something, then you can typically scale that income by doing what already works with more time. If you’re not making anything yet. More time usually won’t do you much good.
Tip 6 – Create leverage through your side business
Most people would probably get paid more from their career/job if they had a side hustle. If your job knew you were making close to what you made at that job, on a side business (you grow on your own time of course), they would likely pay any amount to keep you at the job, producing and making money for them.
This is not always the case of course. But think about your situation. Is that a possibility? Would having a solid side hustle create more leverage in your life?
Tip 7 – How can you monetize the audience you ALREADY have?
We all have an audience. Whether you believe it or not. Big or small, someone is keeping up with you on social media. Keeping up with Your Story.
A simple and ethical way to monetize from that group of people is to Over serve your people. Think how could I help these people solve their problems. Most people think, “how can I make more money”. The best are problem solvers. Find ways to help the people that already follow you.
Ok! You should be excited about starting that side hustle! Or, if you already have a business, it’s time to go from side hustle to serious income stream and go hard!
Remember, your lifestyle is a choice, don’t settle for anything, and go out and create your dream lifestyle!
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We believe that you can create passive income online to create the lifestyle of your dreams, never give up, never settle, be intentional, and always create! You're always one choice away from a completely new lifestyle!
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