Side hustles are projects where you aim to sell a product or service to build an extra income stream during your spare time, when you have a regular job. Focus on creating value by solving a problem or filling a need for your customers. This type of project requires effort and sacrifice of time that you would normally spend doing something else, but minimizes risk financially due to monthly paychecks as an employee. The project should eventually turn into a business that can replace your employment income.
Building your side hustle, saving and investing are for many the best ways to increase the chances of being able to quit the rat race. To never be dependent on a paycheck from an employer again.
Your first and second side hustles probably won`t work out as you had expected.
Maybe even your third or more (https://www.youtube.com/watch?v=_7AKKJks6i8).
That`s kind of the rule of side hustles.
You try something, you learn, then apply what you`ve learned to the next one.
A lot of things can go wrong and many of them probably will.
Wrong business partner, market, low demand, strong competition, financing, getting your ads blocked, burnout, supply chain issues and other factors might lead to obstacles that prevent you from succeeding. Be aware of these when starting your side hustle.
You have to throw a lot against the wall to see what eventually sticks.
What are you willing to sacrifice to avoid spending 40 to 50 years in regular jobs?
We often talk about risk when it comes to investment of money, but time investment is even more important during our lifetime. Your time is limited. Spend it wisely.
Few people will probably regret not having worked more hours overtime for someone else`s company, watched enough episodes on Netflix or partied enough during their lives.
The path of a lot of resistance for a few months or years could lead to the path of least resistance for decades ahead.
Do what you can to potentially minimize your regrets in the future.
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