Some of the best businesses have started out as side hustles. Many people start side hustles as a way to monetize their passions while still maintaining a full-time job. Side hustles are also a great way to test an idea out without wasting much time or resources. On this episode, I speak with Nick Loper, founder of Side Hustle Nation to get some hidden gems behind building one. How do you find a great idea? When is the best time to leave your job? How do you build authority? We answer these questions and more.
Here is what I learned:
- Have patience. Side hustles don’t become profitable overnight. Like any business, it will take time and perseverance. It took Nick 9 months before he made money with one of his first side hustles.
- Develop a process. When you don’t have much time on your hands organization will be your biggest asset or your downfall. Having a system or a standard operating procedure will make you and your potential employees or partners super productive.
- Take silly ideas seriously. That one thing that you thought was something you did just for fun, could be worth some money.
- Don’t re-invent the wheel. If you have a hard time finding an idea, you’re working too hard. Find an idea that’s already working for someone else and put your own spin on it.
- Get customer #1 from your network. Don’t be afraid to hit up Facebook and Instagram to search out your first customers. They often will come from the network you already have.
- Become an authority. Have you done something remarkable? Are you planning to do something remarkable? When you are done, write about it. Teach others how to do it. Step-by-step. This will make you an authority on any desired topic. But, you have to be consistent.
Music by Craft Beatz