The Most Overlooked Side Hustle Secret
Every Sunday I send out something to think about, a question to ponder and something to try to make your life a little more pleasant. The idea is to inspire and encourage positive change. Readers share their progress so we can all benefit from the learnings.
THINK
“Find your passion, and it’s no longer work.“
L. A. Reid
If you want to make A LOT of money, don’t prioritise it in a side hustle.
If you want to create something that makes a lot of money, you need to be really good at that thing to stand out from the competition.
What was your worst grade at school?
I’m going to take a big punt here and guess you didn’t enjoy that class. Am I right? Go on…tell me I’m right.
It’s difficult to be good at something you don’t enjoy.
Focusing on money is a short-term decision, and in business, you want to make as few short-term decisions as possible. (Win now, suffer tomorrow)
Making the ‘Big Bucks’ is earned through long-term decision-making. (Suffer now, win tomorrow)
It’s difficult to make long-term decisions if your only objective is to make money.
The Solution = Enjoy The Process
When you work on something you LOVE doing, work feels more like play.
The payoff is in the process, not the profit.
You’re also more likely to be around people that LOVE it too (customers and employees).
Success comes down to endurance. If you do something for long enough, you’ll become great at it, and eventually world-class.
What are you prepared to work on for 5-10 years to master?
Start with the End in Mind
Side hustles are hard. You’ve got a job which sucks up most of your time. Then you’ve got family, friends and other commitments. Sticking to a side hustle is half the battle, so start with the end in mind.
If you’re interested in starting a business on the side, consider what you love to do.
What do you spend your free time doing?
What do you spend your money on?
How could you monetise that?
If you’re able to do something for the love of it, not just the money, there’s potential to win BIG over the long term.
When you pour your profits into making the business better by purchasing technology, hiring staff and improving the product/service, you’re hard to compete with.
You can’t do that if you’re worried about making profits.
When you don’t need the money and you do it for the love of it, you can go ALL IN on the business and rival businesses can’t compete with you.
Now, I’m not suggesting you NEED to love what you do to become successful or that profits aren’t important. There are plenty of people who prioritise profits and do exceptionally well from it. It’s just harder to stick to and less rewarding.
Start with the end in mind, and consider what would be the perfect job for you.
What would excite you to work on and build?
Why would you love to do that?
If you can get to the root of those questions, you could be on the path to becoming world-class and very difficult to compete with.
When you win from ‘doing’, the outcome is irrelevant.
But wealth, like-minded/interesting people and fulfilment will likely come your way.
The internet has presented us with the greatest opportunity in human history to make money from doing what we love.
Why wouldn’t you take advantage of that?
Reflect and share this with someone.
ASK
We’re going deep this week. Answer these 5 questions to find the perfect side hustle for you:
“What do you spend your free time doing?”
“What do you spend your money on?”
“What would excite you to work on and build?”
“Why would you love to do that?”
“How could you monetise that?”
Write down what comes to mind.
TRY
It’s a fun one this week… 😁
Try doing something this week simply for the love of it. Nothing else.
You can’t lose.
REMEMBER: When you win from ‘doing’, the outcome is irrelevant.
HIT REPLY and let me know what you tried and how it went. I read and reply to every email.
Remember: Little by little, a little becomes a lot.
SHARE
Comment and share how it went for you.
What are you working on that excites you?
SHARE your passion projects with the world.
Also, feel free to SHARE this email on social media or with a friend, and COMMENT to let me know.
I’d like to personally thank you for your support.
