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Today I have an awesome guest post for you that I am very excited about! Barnabas blogs over at thegivingbudget.com and has a lot of good stuff going on. I have a side hustle myself but nothing compared to what Barnabas has going on. I will let Barnabas introduce himself.
My name is Barnabas. I am an Entrepreneur and budget savvy Father to one adorable son, a three-legged puppy and one truly excellent wife! I have paid off $37k in student loan debt in just over a year and a half, while in college! I love to help others learn how to be financially responsible for themselves! My other passion is to help give to those that need it and train others to better themselves!
Master Your Side Hustle
Whether your hustling in a corporate job, being a full-time student, or creating your next big idea as an entrepreneur you should always have a side hustle, it helps build character and allows you to be creative. This could be blogging, coaching, tutoring, dog walking just to name a few.
The tricky part is mastering the side hustle to be something that’s not just a hobby but can bring in some money to help fund your new dream or pay off your student loans.
What Are The Trade Secrets?
What are the tricks of the trade to master your side hustle? I have started a few side hustles over the years and have learned tons by trial and error. It would be a lie if I said it was even remotely easy, then again if it was easy everyone would be doing it. So I put together my top 3 things you need to know to master the side hustle and hopefully not make all the mistakes I have.
1. You Have To Be Passionate
Having a side hustle that makes money takes lots of work. You need to be prepared to eat, sleep, and breath your side hustle even when no one else is.
This takes dedication, and frankly motivation to come home from your day job and then start working on your side hustle well into the night. Just to get up in the morning but not like everyone else, you need to get those hours in so you are up at 4:00 am each day to get the most out of it and move your side hustle forward.
If you are not passionate about what you’re doing and the side hustle you have started, you will burn out!
Don’t lie to yourself, you can do something for a while even if you’re not passionate about it. But in order to master the side hustle, you have to want it, and want it badly!
Related: Pursue your passion
2. Your Family Has To Be On Board
This doesn’t apply to you as directly if you are currently single but it will if you start a relationship. So for those of you who are married or dating someone, your family has to be willing to get in bed with your side hustle. Nothing affects families more than money. If your spouse, partner, or friend are not on board with this side hustle do not do it!
The havoc that it will cause on your relationship is not worth any amount of money in the world. I am a living example of this, I have been blessed with an awesome wife who has forgiven me for my crazy amount of side hustle ideas and has been willing to go through the fire with me for a few of them.
Story after story I can tell you of young and old entrepreneurs who have a great idea, but their family is not willing to give up that precious time with them for a while. And they themselves are not willing to step back and realize family is worth more than any amount of money.
Related: What Leaving a Legacy Means To Me
3. You Have To Be Ok With Hard Work & Wearing Multiple Hats
As I have said multiple times before, you need to be willing to work the hardest you ever have to make it work. This means hours of extra work in the evening and early mornings. It also might mean you have to ditch some plans with friends on the weekends because that’s the only daylight hours you get to work. Trust me if you can master your side hustle though it will all be worth it!
When you are starting a business or even a few years in you have to be ok with wearing multiple hats in the company. Your job is not going to be like that of a corporate job where you have one task and that’s you. You will have to play customer service like your life depended on it when starting out. Making sure the customer is happy and satisfied will go a long way in repeat service and word of mouth.
Doing the role of the accountant and bookkeeper. This is the one I hate the most. I have no time for finding receipts and making sure I have expensed each item out. But trust me, you want to keep a tight book! Make sure you have some dedicated time each day or week to work on the numbers of the business.
My last word of advice on this is to hire an accountant to do your quarterly things. It will save you headaches and will be money well spent.
Be ok with playing custodian as well.
No one will take care of your business like you will!
Is It All Worth It?
That’s really for you to decide but I think so! I wouldn’t have been able to get ahead if it weren’t for the side hustle. My character and attitude of work wouldn’t be the same either. Who knows it might actually help you become a better person!
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