This means you can now earn additional money
Conventional wisdom says that a regular paycheck is the safest way to ensure financial security. But what if you have a low-paying W2 or lose your W2? How can you earn extra money?
Why LGBTQ people need to make extra money
It is especially important for LGBTQ people to have a side job, a way to earn extra money, as a safety net in case something happens to your regular job or you are denied housing or services because you are LGBTQ. Or, better yet, for the financial freedom to quit your regular job if you wish.
Nick Loper is the Chief Side Hustler at Side Hustle Nation, a growing community of entrepreneurs united by the common goal of financial freedom. Nick started his first part-time job in 2004 to make extra money by running an affiliate website that offered price comparisons for shoes. In 2008, he quit his corporate job at Ford Motor Company and has since been exploring part-time income opportunities as a serial entrepreneur, working eight to ten part-time jobs at a time! Nick is also the host of The Side Hustle Show, a top-rated podcast all about starting and growing your own successful business.
Hear Nick talk about how you can make extra money with a side hustle:
Chief Side Hustler explains how to make extra money
Today, Nick shares his definition of a side hustle and explains the many benefits of finding additional sources of income, as well as his top strategies for developing ideas for your own side hustle. He explains how to gain confidence as a freelancer, which side hustles are the most lucrative, and the best tools and resources available to get started.
Topics covered to help you make extra money
Nick’s first part-time job
- Affiliate website for comparing shoes
- Google closed the site for three months due to sales tax issues
- Establishing multiple revenue streams as a safety net
The advantages of a part-time job
- Additional source of income
- Feeling of security, self-esteem
- Build additional skills
Nick’s definition of a side hustle
- Anything outside of the day job to make extra money
- Opportunity to take control of your own financial destiny
Nick’s insight into finding inspiration for a side hustle
- Doesn’t have to be new (it’s riskier to do something new)
- Overlapping skills/experience, interests and network
- Sniper model (stealing a business from the established)
How to gain self-confidence as a freelancer
- Work below market rate/free to start
- Create a portfolio and recommendations
Nick’s take on the most lucrative side hustles
- Freelance, consulting
- Create assets (course, e-book)
- E-commerce
Nick’s predictions for tomorrow’s side hustle
- Stay on top of trends and sell shovels into the gold rush.
The best side hustles to make money quickly
- Freelance work (e.g. graphic design, painting companies)
- Thrifting (e.g. reselling on Craigslist, eBay)
The best tools and resources for starting a side hustle
- Apps/sites like TaskRabbit and Takl
- Collection of resources on Nick’s blog
The value of having your own blog
- Creative outlet
- Build authority
- Learn additional skills (e.g. WordPress)
How you can use your specialist knowledge on a part-time basis
- Do AND teach
- Become the point of contact for the community