241: Should You Start A Side Hustle Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner
241: Should You Start A Side Hustle Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or Self-Employed
People start side hustles for many reasons, but one of the top reasons is so they can make additional money. With the cost of living rising, many people are looking for additional ways to make ends meet since the income they are getting from their job isn’t meeting all of their needs. On average, one in three people has a side hustle. In today’s podcast episode, I’ll walk you through what side hustles are all about, why they are growing in popularity, and if a side hustle is right for you. If you’ve been thinking about starting a side hustle or have already dipped your toes in the side hustle world, listen in and make sure you are aware of how you can make money with a side hustle. Whether you are starting a business or side hustle, you’re a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA, many business owners start their businesses out as a side hustler. It’s a secure way for you to test the waters of entrepreneurship as well as your business idea before you go all in and lose the security you have with the income you receive from your current paycheck. These tips are essential whether you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances; or doing your bookkeeping manually with an Excel spreadsheet or even a Google Document…
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Show Notes:
People start side hustles for many reasons, but one of the top reasons is so they can make additional money. With the cost of living rising, many people are looking for additional ways to make ends meet since the income they are getting from their job isn’t meeting all of their needs. On average, one in three people has a side hustle. In today’s podcast episode, I’ll walk you through what side hustles are all about, why they are growing in popularity, and if a side hustle is right for you. If you’ve been thinking about starting a side hustle or have already dipped your toes in the side hustle world, listen in and make sure you are aware of how you can make money with a side hustle. Whether you are starting a business or side hustle, you’re a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA, many business owners start their businesses out as a side hustler. It’s a secure way for you to test the waters of entrepreneurship as well as your business idea before you go all in and lose the security you have with the income you receive from your current paycheck. These tips are essential whether you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances; or doing your bookkeeping manually with an Excel spreadsheet or even a Google Document…
Welcome Back…More than likely, you’ve been hearing more and more people starting a side hustle, and if you’ve been thinking about jumping in as a side hustler as well, I’m here today to help you consider how you can make money with a side hustle yourself.
Let’s start out with what a side hustle actually is. A side hustle is an additional job a person takes on in addition to their primary job in order to supplement their income. You may want to supplement your income as a necessity to pay your bills or make ends meet with the cost of living going up. You might have a large purchase you need to make in the future, a wedding, a vacation you want to take, or you want to pay off a large debt you’ve already incurred, such as your student loans. Maybe you want to explore a new potential career, do something you love, or simply want to create more income for discretionary spending, disposable income, or to start a savings account. You want to make sure your side hustle is something that appeals to you. It should be something you are passionate about since you will be working on your side hustle outside of your regular working hours. This may mean that you need to give up your nights and weekends so that you can put that time and effort towards your side hustle, but you want to make sure you are setting boundaries so that you can still enjoy your life. When you love what you are doing, it makes it much easier to follow through with the work you need to do in your side hustle. Don’t confuse a side hustle with a second job. It isn’t necessarily a second job since you get to call the shots. You decide on how much time you want to spend on your side hustle, how much money you want to make, and what you are going to do in your side hustle. Essentially, you are an entrepreneur or solopreneur when you have a side hustle.
Most side hustles will start small and expand into a bigger business over time if this is the intent, but it’s just fine to keep your side hustle small if that is what you want. Think about what your overall goal is for your side hustle, and if you may want to grow or scale your side hustle into a full-time business in the future. The amount of income you can make will really depend on how much time you devote to your side hustle, if you can work your side hustle year-round, and if you are able to expand your reach from local to nationwide. Your side hustle is a way for you to explore your passions without losing the security you have with your full-time paycheck, but you want to make sure you do your research before starting your side hustle. Most side hustlers will use the skills they already have to get their side hustles off the ground. This allows you to use your side hustle as a way to increase not only your financial independence but to make extra money while being productive with your spare time and having a creative outlet for your skills. Side hustles can also give you personal and professional satisfaction since you are making decisions for yourself which can boost your overall confidence in yourself. Your side hustle can be flexible, you get to set your hours and your rates, and you could even earn more money with your side hustle than with your full-time job. You can also have a sense of security knowing you have your side hustle income coming in, even if you would happen to lose your full-time job for one reason or another. Some of the most popular side hustles we see are freelancers, gig workers or entrepreneurs, and solopreneurs.
Before you start your side hustle, you might want to consider some of the traits you will need to make your side hustle a success. Do you have the motivation you need to keep going? Are you willing to learn additional skills? Are you okay with making mistakes and taking the time to learn from them so that you don’t make the same mistakes in the future? Think about the cost of getting your side hustle started. Most side hustles have a low entry cost or investment, but overall, you want to make sure you are selecting a side hustle that is in high demand and something that people need, want, and are willing to pay for. Consider your ongoing expenses as well so that you know how profitable your side hustle will be since you will be sacrificing or giving up your valuable free time. Make sure you check with your employer to make sure there are no issues or concerns they have with your idea of starting your side hustle and remember that you will need to report your income from your side hustle on your tax return in addition to your wages from your employer.
Most side hustles allow you to work from home, and many are done online or remotely, which saves you time and helps you to be more efficient. The advancements in technology and internet access simplify your ability to have a business and market using social media to expand your reach and find new connections.
Imagine having a system in place where you spend less time buried in paperwork and more time doing what you love. That’s where I help my clients. They are able to have proper processes in place, understand why they are following through with these processes, and they have more peace of mind when it comes to their business. Striking a balance between the demands of running a business and maintaining a fulfilling personal life is an art; it’s about creating an environment where you can thrive and support your lifestyle. By being proactive and setting up efficient processes, you can ensure a smoother, more enjoyable year-end, and you’ll be prepared to file any necessary filings with the IRS. By working with me, you’ll change more than just your bookkeeping processes. Like many of the clients I’ve worked with, you’ll go from not knowing how to get through all the stressful situations or being unprepared to being totally in control of exactly what you are choosing to get done at the time you want to have it accomplished by, all while knowing you are doing enough and you’re able to enjoy your business and your personal life. I help clients just like you with strategy, mentorship, and coaching. When you work with me, you’ll show up much more differently than you do today, and, after all, this is what you ultimately want in your life, right? Come join me. When I work with clients throughout the year, they are able to reduce their stress and overwhelm, understand how to master their small business finances, develop solutions to grow their bottom line, and create a work-life balance they truly enjoy. I encourage you to take the next step by signing up for a free consultation where I’m going to teach you the first step in my process so that you can eliminate stress, overwhelm, or overworking in your professional or personal life while you continue to get done what matters so that you can live your life with joy, purpose and a more fulfilled life. Feel free to reach out to me with any questions you have; I’d love to help you on this journey. You can schedule your free consultation or sign up for a coaching session today at www.FinancialAdventure.com. As a Certified Public Accountant and Certified Life Coach, I can help you set goals and develop a plan that will allow you to lead a happier and more sustainable life in your business, career, or your personal life. I’m here to guide you through the financial aspects of your business as well as help you focus on the strategies you need to follow to reach the success you want to achieve in your professional or personal life and stay committed so that you can continue to keep pushing forward and relieve the stress, anxiety, or overwhelm you are currently feeling. Having an accountant and certified life coach like me can provide you with valuable insights and ideas to help you simplify your life, which enables you to go back to enjoying your professional and personal life. I work with business owners, accountants, and other financial professionals to create the actionable steps they need to take to ultimately achieve their goals while getting relief from the stress and overwhelm they feel from the pressure of owning a business, deadlines, and the workload they face every day. If you are struggling with this as well and would like some help developing a solution, help strengthen and maintain your emotional health, increase your well-being, create a more positive, happy, and joyful life, set and achieve your goals, and manage your relationships, You can go to www.FinancialAdventure.com and click on the work with me button. Sign up now. I help people get results and live a more joyful life. I know there is something you want in your life, and I can help you get it. Are you ready to enjoy your life now? Why would you want to wait? Are you ready to make bigger, bolder, stronger life goals? I’m looking forward to meeting with you soon and digging deeper to see where you currently are in your business or career and start creating actionable steps so that you can reach your vision and goals for the future, not only in your business or career but also in your personal life. I’m ready to work with you, see all of your successes, and watch you thrive in your business or career while creating your best work-life balance. I’ll post links to this and other valuable resources for business owners and accountants where you are listening to this podcast.
And, you know I’m going to ask…what’s at least one thing you will take away from this episode that will help your business succeed and grow your bottom line? If you need some accountability, join our PRIVATE Facebook community and post your action item, we’d love to support you.
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