Manage episode 262406088 series 1045668
David Carlson is the founder of the personal finance blog Young Adult Money.
Young Adult Money is focused on helping those in their 20s and 30s make more, save more, and live better. Forbes magazine has called Young Adult Money one of the best websites for people looking to get their finances in check.
David works in corporate finance at a major US corporation and is the author of Hustle Away Debt.Favorite Success Quote
“Work like someone else is working 24 hours a day to take everything from you” ~Gary VaynerchukKey Points
1. Build your Side Hustle Around Your Life
Most people I know want to build side hustles.
They want to have more financial freedom, more time to spend with their family, and more security around their ability to provide for themselves and their families.
But they think it will be too much work.
The truth is, you can start building a side hustle with only a couple of hours a day. Just give up your nightly episode of Narcos and work on a writing or FBA business.
You will be amazed where it will take you in only a few months.
2. Developing a Side Hustle will Improve Every Area of Your Life
Something that many people do not realize is just how significantly a side hustle can change your life.
Whenever you learn to generate income on your own terms, you will have less financial stress, you will have more confidence in yourself, and more time to devote to the things you love.
You don’t have to worry about quitting your 9-5 either. Your side hustle is just the beginning and is meant as a way to supplement your income, get you out of debt, and generate extra cash to put aside in savings.
3. Figure Out What Skills You Already Have that You Can Charge For
The first step to succeeding at your side hustle is to figure out what skills you have that you can charge for.
And before you say that you don’t have any, let me cut that belief down right now.
If you can write, take pictures, manage spreadsheets, teach an instrument, are good with girls, or know how to plan a trip abroad, then you have the skills necessary to start a side hustle.
But it’s up to you to determine what skills you have, develop the skills that you want to have, and then seek out clients who will pay you for them.
4. If You Want it You Will Get It
Everyone says that they want financial freedom, but few people are actually willing to take the steps necessary to get it.
They would rather go out with friends, play video games, watch TV, or sit in front of their computer watching porn.
If you want financial freedom, if you want to quit your 9-5, if you want to develop a side hustle that gives you the ability to pursue a life on your terms, then you will go out and get it.
End of story.
5. Don’t be Afraid to Fail
If you execute your side hustle properly, there is no need to be afraid of failure.
Keep your 9-5, don’t take huge risks, and devote only a few hours to your side hustle a week.
If you fail, there will be no real damage except for a few lost hours.
You will still have your job, still have your family, and you will have learned some valuable lessons.
There is nothing to be afraid of, so go out there and get after it.