The Easy Way to Start Earning Money with a Side Hustle
Side hustles, multiple or passive income streams… if I wouldn’t know any better, I’d think that every entrepreneur is doing this. I read about them all the time.
Of course the reality is that most of us are already happy that we have even one thing going for us – giving us enough financial security to live a nice life.
Sure, we may invest a bit of money here and there, but I don’t know many entrepreneurs that actually say: “of course I have 9 different income streams”.
Personally, I’ve always been interested in building multiple streams of income. Passive streams of income. And I mean “passive” in the sense that a product or service keeps generating a certain amount of money every month, without me having to put in much additional effort.
Generating additional income streams interests me, because:
💰 I don’t want to be dependent on one income stream in case something happens to it.
💰 I want to earn enough passive income, so that I no longer have to exchange my hours for money. It would give me full freedom of how I choose to spend my work time.
The thing is… I never got started!
Building passive income was something that was always sort of in the back of my mind. As if I was sure that I’d start it soon. But I never did. Then one day you look back and you realise that 5 years have gone by. That’s when you know something has got to change.
Today, I made a conscious effort to start building an additional (passive) income stream and I want to take you through my thought process on how I started.
So that you’ll maybe get inspired to (finally) start your own.
What comes naturally to you? 🦸
In the video above, at about 3,5 minutes in, Noah Kagan asks: “what do you have an advantage in?”.
It’s such a simple question, but one that can be absolutely crucial if you want to start something on the side.
The fact that it’s a side hustle means that you’ll have less time available to work on it. So if you want to start earning money from your side hustle anytime soon, it might be best to build on a foundation of skills or experiences that you already have.
I read this article the other day about a 35-year-old pastor who made over 1.5 million dollars from selling voice-overs on Fiverr. As a side hustle.
“I was offering something that I thought was easy. I’m talking into a microphone – that’s stupid, who would pay for that?” Thousands of people, as it turns out. “Because no one wants to do it, no one’s good at it, no one can do it,” he says. “But because I’ve always been able to talk and I’ve always been good at it, I thought, ‘Well this is easy, I’m just talking.’ It’s that curse of ability.” – Joel Young on CNBC
In the pastor’s case, public speaking and talking was something he liked doing. He liked it as a kid and he was used to it from being a pastor. He didn’t have experience doing voice-over work, but this was still the type of work that came naturally to him.
What comes naturally to me by now is creating online courses 💻🎓
Heck, I even made a couple of online courses just for fun. For our community of entrepreneurs at KREW. How many people can say that?
I simply love creating unique and engaging learning experiences. So for me it’s not a big step to turn this unique advantage into a side hustle.
Taking the next step… fast! 👟
When you identified your unique advantage – or natural ability – how do you then actually get started and turn it into a side hustle?
Here I have one major piece of advice: keep it small 👌
To explain, I have a couple of online courses just sitting on one of my hard drives. Waiting for something to happen. I once created these as side projects for KREW and for Ninjafy. But due to changing directions in those companies, the courses ended up in a place where no one could get value from them.
They have been on there for over 1 year already. Some even for nearly 3 years.
Of course I knew didn’t want that. I wanted them to add value to people’s lives. That’s why I built them. But I wanted to relaunch them in the right way. With a great sales page, a proper sales funnel – a whole system around the online courses.
It was too much work to set up. So I didn’t get started.
In 1 day, I repurposed one of the online courses on my hard drive and put it on Skillshare. No sales pages needed. Actually, no sales activity needed at all. All I had to do was upload the course and that’s it. The rest is done for me.
Of course I have no idea whether it’s actually going to make me any money. But I’m pretty sure that it will be of more value to people than it was on my hard drive.
And it only took me 1 day to set up 👇
Now I have something to test, to learn from, to try out with and potentially grow into a real side gig. With just a tiny bit work.
So: if you want to start a side hustle, I highly recommend that you start small. Keep your fees low. Keep your offer simple. Minimise the amount of setup work you have to do to a weekend at most. Think about what you already have in terms of skills or material that you could sell. But most of all…
Get started now! ⚡⚡
From there on out, you can build your side hustle into something greater. Maybe it can even become your main hustle.
The pastor is a good example of this. He started taking on low-fee jobs on Fiverr (you can create a Fiverr account in minutes). Ge gradually took on more direct client work through his website. He gradually increased his fees, because his skills got better. He also started offering additional services at some point. And so on.
You can build your side hustle over time, but if you don’t start it you risk looking back at some point and regretting that you never started it. So don’t overthink this. If you want it, go do it.
The easy way.