Dropshipping is dead.
Affiliate marketing is too hard,
and you need money to start a side hustle.
These are all things I've heard in the last week,
and here's why they're all completely wrong.
What these people actually mean
is that side hustles are too competitive,
and require a ton of money to get started.
That's a valid concern.
Making money requires a lot of hard work.
I don't think I really mentioned this enough in my videos.
It took me years of building different side hustles
to become a millionaire.
So if you want a quick and easy formula to success,
then you won't find it here or anywhere else for that matter
because it doesn't exist.
However, I can give you a simple five-step plan
that you can apply to any side hustle you choose.
Step one, get good enough at something.
Starting a side hustle is like playing a video game.
You first need to increase your character's power
by assimilating knowledge and developing valuable skills.
Unlike Sims, your real life avatar doesn't come
with a ready-made six pack.
This is gonna require some dedication.
A valuable skill is anything you can learn
that a large market is willing to pay you for in the future.
Notice I said you just have to become good enough.
That's because I don't think you should be wasting years
of your life trying to become an expert
before making any money.
Look, I'm gonna get straight to the point.
Too many people go to university.
Yes, knowledge is power,
but unless you want a job in a traditional institution
like becoming a lawyer or a doctor,
there's little need to pay for traditional education.
I'm a big believer in learning a skill whilst making money.
I don't know why more people don't do this.
My friend was the same, when she became a counselor,
she felt like she had to become more and more qualified
before she could charge for her services,
even though she was already amazing at what she did.
Now, she's actively getting paid.
However, just think how many people she could have helped
and the money she would've earned
if she'd have got over her mental block sooner.
The same goes for you.
There are people out there that need you now,
not in three years time, so it's time for you to decide
what skill you want to learn.
Remember, you need to make sure your skill
has a wide enough appeal.
I mean, if I decided to develop the skill of reciting
the seven "Harry Potter" books off by heart,
that skill would be pretty useless
when it comes to making money.
Most people don't like to omit it,
but they're extremely time rich and they could spend it
learning in a new skill, but instead they decide to chill.
Now, that's okay if you don't want anything more from life,
but the one thing I can't stand is people
that complain about their situation
and they don't do anything to change it.
The truth is society wants a docile population
that goes to work, follows orders,
and collects their paycheck.
That's why they continually pump out TV shows and films
with blatant political messages
all designed to brainwash you.
I mean, it's called programming for a reason,
so a handful of examples of useful skills
you can spend your free time learning of video creation,
coding, negotiation, graphic design, writing,
or even practical trades,
like carpentry, electrics, and plumbing.
The list goes on and on.
There are so many side hustle ideas out there
that allow you to be paid handsomely
for leveling up your avatar.
I mean, if you wanna learn coding,
then stop building websites for friends.
How about physical trades?
Just help out a handyman on the weekend
and for video editing, reach out to work for an influencer.
Step two, offer a stand-out service.
A few years ago, my son had become good enough
at filming videos and editing them.
He'd managed to teach himself these skills
while posting to his YouTube channel,
but he wasn't making much money.
That's when he did something pretty clever.
He decided to offer a standout service for clients.
If you offer a normal service, for example,
our film and edit your videos for $100 each,
then you'll be lost in the crowd of competition.
You'll be one of the many options for your customers.
It doesn't matter if they're looking for a video editor,
a web coder, graphic designer, or a salesman.
They'll be comparing all of their options
based on one thing, the price.
This means that you'll always have to worry
about competition.
And ultimately, it's a race to the bottom.
There's always someone willing to work for less than you.
That young lad who still lives at home editing videos
is always gonna be able to undercut you as $10 to him
is worth so much more than it is to you.
I mean, he'd properly be one of the richest kids
in the playground.
The issue is being seen as a commodity.
In other words, there are lots of different options
and you are comparable to all of them.
The solution to this is offering a standout service,
so that your customers don't see you
as one of the many options, but instead the only option.
This gives you the ability to charge far higher prices,
and build a much more lucrative side hustle.
A standout service should look something like this.
I'll create an action plan for your social media strategy,
direct a bespoke promotional video,
help you with your on-camera delivery,
and use my experience in your sector to gain new customers
and fans that will rave about your services.
Let's break this down into three parts
that you can replicate to make your own standout offer.
The first one is niche.
Although your skills only have to be good enough,
your clients should still look to you
as an expert in their particular sector.
This applies if you are looking
to become a social media manager, Facebook ads expert,
dropshipper, consultant, and so many more.
People are much more likely to pay for someone
that's positioned themself as a specialist within a niche
rather than a jack of all trades.
Now, the person that does everything
might actually be better than you.
However, they're not perceived in that way
and the way people see you is what matters.
Before jumping into one of these,
it's very important to evaluate what niche
has the highest earning potential,
and secondly, what you enjoy the most.
In an ideal world, it'll be the same answer.
However, it doesn't always work that way.
Money is, obviously, very important,
but you aren't gonna get anywhere if you hate what you do,
so it might be worth taking a perceived
cutting income for more enjoyment, because in the long run,
your motivation should make up for that loss of money.
The second part of a standout service
is financial incentive.
In order to charge more for your side hustle,
you need to make more money for your clients.
Think about what skills you have or a planning to learn,
and how you can use them to make other people wealthier.
It's so important to sell this financial incentive
rather than the actual product, such as the video,
website, copywriting, and so on.
No one really cares about that.
They only care about what that product will do for them.
The third part of a standout service is skill stacking.
This is essentially taking all the valuable skills
you've assimilated in level one
and slotting them together like a jigsaw puzzle.
In my example, this is, of course, the social media skills
I'm using to create their action plan,
production skills to create the video itself,
and directing skills to make sure
they're on on-camera delivery hits the mark.
Step three, productize your service.
Once you productize your service,
you can sell it to multiple people.
This will allow you to make a lot more money
without drastically increasing your expenses.
Productize services enable you to expand your side hustle
and serve more customers without dedicating
an excessive amount of hands-on work to each project.
The model is repeatable
and should only require modification.
In other words, you shouldn't have to make
any massive changes when adapting it
to different clients or projects.
To make a productized service,
you'll need to outline precisely
what your customer will get and at what price.
You'll then be able to sell this product many times.
The customer is still receiving a service.
Now, with the appealing predictability
of an off-the-shelf product,
there are endless possibilities
when it comes to productized services
as they're only limited by the creativity
of the service providers.
I know a personal trainer called Tom
who's currently doing this.
He can only work with a limited number of clients
through individual hourly sessions,
so he's increasing the amount of money he can make
by building online courses.
While he's charging less for online access
compared to personalized training,
he can sell these to many more people.
Therefore, making up the difference.
Tom can also choose to have in-person sessions,
while his online courses are still selling
in the background.
You could offer fully done for you web design packages,
content creation bundles, coaching courses,
graphic design packages, and so many more.
The common thread is that you are selling the same service
or work to multiple customers with little customization
or extra work needed for each one.
Step four, recycle your money.
By now, your side hustle should be generating
some healthy profits, but this leaves you
with a very serious decision on your hands.
Do you start spending the profits on expensive clothes,
holidays, cars, and impressing others,
or do you reinvest the profits
and delay gratification to become the person
you've always wanted to be?
To me, the answer's obvious,
but so many people make the mistake
of spending money too early
pretending to be someone they're not.
As you're a viewer of my channel,
I'm gonna assume you're with me on this one,
so make sure you are recycling your money
by investing it in marketing, equipment,
software, and so on.
By doing this, you can expand your reach,
increase profit margins,
and operate like a well-oiled machine.
But with that said, it's very important not to reinvest
all of your money back into the side hustle.
You need to take some of the money
off the table to build your personal wealth.
Here's exactly how you do that.
Throughout my entire adult life,
I've invested money into the stock market
to passively grow my wealth over the long term.
I did this to ensure that I'd retire a millionaire.
As historically, when investing into a diversified portfolio
of index funds and ETFs, you can expect to grow your money
by 8% per year.
Of course, this isn't guaranteed,
but it is the historical average.
This isn't because I wasn't confident in my ability
to scale my businesses to millionaire status,
but I wanted a safety net for me and my family.
If you wanna start investing in the stock market,
I've managed to get a deal for you
that will kickstart your journey with five free stocks
with as little as $100 investment.
I know this might sound too good to be true,
but let me tell you about a supporter
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One of the things I really love
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This allows you to learn all about the stock market
by investing fake money,
so you can get familiar with the market's real data
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I also really like that Moomoo is completely free to use
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Step five, automate everything.
This is the level of the game where you unlock
all the special moves and cheat codes,
and no longer have to play by the same rules
as everybody else.
It's true, the rich and powerful
live a completely different life to the average person,
and that's because they understand this step
in a way that most people don't.
The harsh reality is that you don't have
a sustainable side hustle yet.
It's more like a profitable job.
Even if it feels like a long way away,
you should be thinking about what dream side hustle
you want to start building towards,
something I did very early on.
When I started my own product range of radio control models,
I was outlining exactly what team members were needed.
This means that when I started hiring those people,
I'd given it a great deal of thought.
Of course, at first,
you are probably gonna be very tight on cash,
unless you have a mass amount of funding.
This means you're gonna be doing everything yourself.
This is just not sustainable.
So by slowly handing over responsibilities,
you are able to clean your plate or gain your freedom.
You have to stay really focused as it can be really easy
to give into your selfish tendencies,
and want to hold onto more of the profits for yourself
rather than hiring someone else.
But this just takes away precious time
that could be spent working on your side hustle,
and not in your side hustle.
It's all about looking at the bigger picture,
and building the automated machine that is the side hustle.
If you wanna know nine untapped side hustle ideas,
and I'm gonna leave that video right up there,
but don't click on it just yet,
make sure to subscribe if you wanna grow your wealth, okay?
I'll see you over there.