💡Choosing the right side hustle is crucial for success.
📝Writing a one-page business plan is essential to determine your goals and strategies.
💰Decide if you need external funding or can start with your own savings.
📣Invest in marketing to promote your side hustle and attract customers.
📈Plan for growth and scaling your business as it becomes more successful.
What are some level one side hustle ideas?
—Examples include driving for Uber, working as a freelancer on platforms like Upwork, or doing gig work such as DoorDash.
How important is it to have a business plan?
—A business plan helps you outline your goals, understand your competition, and determine your financial needs and marketing strategies.
Do I need investors for my side hustle?
—It depends on the type of hustle and your financial situation. Many side hustles can be started with your own savings or by bootstrapping.
How can I promote my side hustle?
—Investing in marketing, including social media, online advertising, and word-of-mouth, can help attract customers and grow your business.
How do I scale my side hustle?
—As your side hustle becomes more successful, plan for growth by hiring employees, outsourcing tasks, or expanding your product/service offerings.
00:00Introduction to the importance of side hustles and their role in building wealth and financial freedom.
05:10Explaining the two levels of side hustles - level one where you earn extra income and level two where you build a scalable business.
10:25Step one: choosing the right side hustle based on your skills, interests, and market demand.
15:40Step two: creating a one-page business plan to outline your goals, strategies, and competition.
21:55Step three: determining your capital needs and exploring options for funding or self-funding.
26:10Step four: investing in marketing to promote your side hustle and attract customers.
31:20Step five: planning for growth and scaling your side hustle as it becomes more successful.
36:45Conclusion and encouragement to start your side hustle and embrace the opportunities it brings.
