Now today, we're saying the side hustle.
Marisa, that's a little.
Harsh, you know what, my bad, I got a little too excited,
but really in today's video,
we are going to go over the top mistakes of what people do when they're trying
to do or get started with the side hustle to generate more income and how it can
really be a fatal mistake to their long term financial goals and revenue goals.
And I'll give you some practical hints and steps of what to do instead so that
you can start a side hustle the right way and reset $10,000 per month,
mark in revenue. If that's something that you're interested in.
So if that sounds good to you give this video of big thumbs up,
it really helps support the channel and comment,
get paid down below and let's get going. Okay.
So one of the main things I see going wrong when people are wanting to start a
side hustle is you gotta distinguish what your goal is.
Is your goal eventually more time, freedom, freedom, I guess in general,
or is your goal just kind of to dip your toe in the water and experiment in the
market and see if your side hustle will actually work.
See if it's something that'll produce more than just a side income or see if
it's something that you could eventually stop trading your time for money,
or maybe you didn't even think about whether or not you could eventually stop
trading your time for money,
because essentially the word hustle and side hustle you're gonna be
working. This isn't a something you're striving for to make passive income.
This isn't an investment like into the stock market,
into crypto and watching it grow, no, this is an actual hustle.
It's a daily grind.
So I guess in the beginning where people go wrong is they don't really
understand the long term play.
They just want to make money now make money fast. And that's understandable.
That is a great way to get a good cash injection into your income,
or in addition to your full-time job that you have, whatever you wanna call it.
But let's talk about some of the things that won't put you on a good path to
time, freedom,
to eventually creating passive income and to eventually creating a business
outta this side household and some of the biggest mistakes I see all the time.
Okay.
So one of the first mistakes I see when people are starting a side households is
it's not really an all in type of mentality.
And let me explain what I mean by this. So,
so when somebody starts a side hustle,
they're starting it when they're in a position that they hardly have anytime.
And it's just kind of they're starting this thing on the side where it's just
kind of there. It's kind of like, I'll get to it when I can.
And the thing with that is it doesn't allow you, or, you know,
whoever is starting the side household to not have that all in mentality where
when you start a business and when you eventually want to turn your side hustle
into the business, you need to take it seriously and you have to be all in.
Okay. And this is one of the reasons why I back in the day quit my job,
which honestly I say today that I quit my job probably a little bit too early.
And I was a little bit too aggressive with that.
But my mentality was all in nonetheless.
And so the problem with not having an all in mentality is the,
is the next mistake essentially.
And that is not taking your side hustle seriously because when you kind of
dabble in it and D and you're dipping your toe in the water, it's like, okay,
those are the exact kind of results.
You'll get hardly any results or just like really scattered results.
And so the effort you put into something is going to affect the direct output of
what you're getting out of that thing. And in this case, the side hustle.
And so, because somebody isn't taking this side hustle seriously,
it most likely will end up just being a temporary thing.
And this experiment will kind of just dwindle out and just kind of go down the
drain because with halfway efforts equals halfway or no results,
essentially.
And so another mistake that I see people make when starting a side hustle that
they actually want to eventually turn into something really profitable and make
a business, is that they don't start the business foundations off correctly.
So what does this mean I'm specifically referring to in this case creating a
business entities.
And so if you're really interested in taking this side hustle to the next level
and making a lot of money with it, I mean, your intent is to make money.
So I believe you should be starting a business entity.
So that means registering your name officially and creating either a sole
proprietorship or a single member, LLC, and a business entity.
So you can legally do business. And when you start to make more and more income,
you can take the expenses that you have that you're using towards this business
and write them off. And so I see this a lot of times,
especially with people in the United States.
I'm not sure how it works in the other countries,
but a lot of people are just using their social security number for all of their
business inside hustle things. And that's not good because you,
as an individual are not protected, right?
You as the individual are not your business, you guys are two separate things.
So when you start a, an LLC, for example, or a sole proprietorship,
what you do is you get an EIN number,
which is a number that is taxed instead of your social security number.
So you use that E number at the end of the year when you're doing your taxes so
that you keep any personal income or conventional job income,
separate from your business expenses and profit. And so, no,
I am not a CPA or a financial advisor or none of these certified type of
people. However, I will say, people ask me all the time. Do I need a LLC?
Do I need to officially start a business entity?
And my answer is probably if you intend to make money now and in the
long term from now, and to take it seriously and to treated as a business,
I would say that you do need to probably look into starting an official business
entity for what you're doing. Now.
The next mistake I see people doing is trying to scale a job, right?
Trying to scale something where they are directly trading their time for money.
And they continue to work, work,
and work and work so much and hustle so hard that time freedom
gets further and further away from achieving.
And it just kind of becomes this big mess. And this was me in the beginning,
I was an entrepreneur who, or a entrepreneur,
I would say because I wasn't really making profits.
That was actually in the negative so much in the beginning of my entrepreneurial
journey. Okay. But what I did do was I hustled so hard. I mean,
I used to think that Gary V was just this God. Right.
And he was always making me like the hustle hard hustle.
You have to put in the work, you get feelings, create content. And I was like,
yeah.
Yeah, Gary you're so right. You're so right. We should never miss a moment.
We should always be working. Go.
Go, go. When I would literally work between 12 to 15 hours a day,
I was like, I can't leave my computer or else I'm going to, I don't know.
I don't know what I was thinking, but it's just this hustle.
So hard mentality that we're fed, especially here in the us.
It's kind of ridiculous. It's like,
we're always thinking if we're not super productive,
if we're not working like our sasses off,
then we're not doing a good job period. Right. And so I was just always go, go,
go. And so if this is you,
or if you have a side hustle that you're thinking of starting where you're like,
wait a minute, that could potentially be me.
So maybe it's like you have a lot of one-on-one clients or maybe it's something
where it demands a lot of your attention. Like in person,
maybe it's an e-commerce store.
And you're having to manufacture or work with a manufacturing company in person
or something. That's just demanding a lot of your time.
Maybe it's a lot of networking. Maybe it's a lot of calls on the phone,
whatever it is. Think about it and think, wait a minute.
I'm not exactly sure if the answer to making more money is working more
because it's not, that's not the answer.
And so I guess my point to this is make sure that you have a strategy that when
you want to be able to work less,
when you want to be able to one week take the whole week off or whatever it is
that you have a plan that will allow you to do that and that your side hustle or
your income generator you know, your eventual business or whatever it is,
can support you during that time off.
And so the next mistake I see with people getting into side hustles and hustling
is not having clarity.
And so what I mean by this is some people just start a side hustle and they
start hustling just to go through the motions it's just to claim and that
they're hustling and that they've started this thing. And that, yeah, it okay.
Maybe it is generating the money, but they're just going, going, going.
And there's not really a direct path. And they don't see where the,
they don't see the end goal. Right? What is the end goal? What is your why?
And so hustle is actually, okay. I'm like going back on my own words,
but hustle is a great thing when it's mixed with passion,
because if you're in a position where you do want to get out of it,
maybe it is you're wanting to leave your nine to five,
or you're wanting to increase revenue,
or you're trying to raise money for the certain thing, whatever your goal is,
make sure you're passionate about it because this hustle and this grind will run
out the energy to do it will run out because the Upwork hours in
the beginning, the inexcusable hard work up front is you can't get it.
There's no way around it. You have to work hard up in the beginning, right?
There's no four hour work week in the beginning. That's just not possible. Okay.
So make sure that you have clarity on your why and the real purpose behind what
it is you're doing.
If you're wanting to have a meaningful hustle and you're wanting to make an
impact, and you see the vision for the short term and also the long term,
because that is the happy medium.
So that when you're putting in these hustle hours, you're avoiding the burnout,
you're avoiding these things that really mess with your mental health.
And it's not something where you're waking up every morning and you're having to
do a whole bunch of prayers and affirmations like, oh, you could do it. Oh,
you can do it because you're so exhausted. And your heart's not really in it.
Okay.
So really find that clarity and your purpose on why you're doing this thing
and why you're starting this side hustle. And so why am I making this video?
I know this is a weird thing to say right in the middle of the video.
And by the way,
if you guys are interested in joining my email list and getting updates from
me and getting some free resources in the next couple of days,
go ahead and download my Subscribers to Sales Blueprint right up here,
or the first link in the description, which is the six step blueprint,
which will help you monetize a YouTube channel and build a real side hustle and
a real business out of it, the correct way. And so yeah,
check that out if you're interested. And I guess,
let me just back up a minute and explain why I'm talking about this today,
because I was thinking to myself that in the beginning of my career
or not my career,
but once I started to get the hang of things and started to produce a stable
income as an entrepreneur and with my new online business I was
so attached to my business and I was so deep in the business working all the
time. I would work seven days a week.
I would feel extremely bad to about myself if I wasn't always being
super productive.
If I wasn't always squeezing out the most productivity in a day,
if I wasn't always checking all the 7, 8,
10 to-do list off the task, on my to-do list off the list.
And it was crazy, I was such a workaholic.
And I was claiming that, you know,
I had built this business to have a laptop lifestyle,
to be able to travel the world, be a digital, no matter which I did.
Which is amazing,
which was only possible because of my remote work as an entrepreneur and my,
you know, having the YouTube channel. However,
I was exhausted from work at some point,
because I was,
it was all revolved around me and my input and my
output and my revenue depended so much on my input and I'm,
and I just kept working.
And I just thought I had to be in such control of every aspect of
my business. Even when I started to hire out different things in my business,
it was always like, I was so paranoid about things not getting done,
and I would have to work even more to manage other people on my team.
And it was just getting kind of crazy.
And so there came a point when last year,
my husband and I found out that we were pregnant and I was like, oh, mg.
And I was like, what does that mean?
That means a baby is gonna be here in the next eight to nine months
which is gonna require some of my time. Okay. So the baby's here,
my beautiful baby boy was born eight weeks ago at the making of this video.
And it's been such a blessing.
And I just wanted to say that I share this because the
whole shift in my,
while I was pregnant and getting ready to take a maternity leave was crazy
because I realized that I didn't have a conventional job. I had my business,
which was not at the time ready to give me a maternity leave.
So if I left, then my revenue would go way down. Right.
And so I'm like, okay, this isn't good.
And something has to change so that I could take a proper maternity leave.
Once the baby gets here. Okay. So I , I was like, oh no,
what am I gonna do? And I really had to create a lifestyle business.
And I really had to put my money where my mouth was and create a true lifestyle
business where the business revolves around my life and not the other way around
cuz that's what it was for the first three years in business was my life
was revolved and I was definitely an employee to my business and I was getting
stretched in so many different directions.
And the demand for my time was so high and I would've just probably kept
working and working and working. And I never,
would've forced myself to discover a way to really truly have an automated
business and lifestyle business that supports me and what I want to do and my
family, and be able to give me the true time, freedom that I want.
And so if you are thinking about creating and starting a side hustle,
I want you to think way down the line.
I want you to think about if in two years from now five years from now,
if you can automate this business,
cuz that's kind of step one to creating different passive income streams within
this side hustle within this business is how are you going to replace
yourself?
Because if you take yourself out of the equation and your revenue goes down
and things just fall apart, then you don't have a business,
you have a side hustle that's wearing you out and you have a job. Okay.
So you have to think about the moving parts within your business and say, okay,
if I were not here or something were to happen to me,
what would happen to this? What would happen to me producing videos?
What would happen to this sales funnel?
What would happen to me having to do coaching and all the clients that I have,
what would happen to maybe you're a freelance writer or a blog writer,
what would happen if I wasn't able to write blogs,
you realize to think about these things and think about the pros and cons of
each.
And I say this because the faster you make moves to get these things automated
or to help and hire a team to help run this part of your business,
the more and the faster or yeah,
the faster you will be in control and own your own lifestyle.
And you'll be able to dictate how much time you can take off.
You'll be able to travel whenever you want.
You'll be able to really have that time, freedom back.
And if you want to raise a family and take maternity leave like I did,
and I wanted to, then you will be able to do that.
And I'll give you a prime example in my business.
One of the things I knew I had to do leading up to during my pregnancy
and leading up to my maternity leave is like I had to hire another one of me.
Right. And what I mean by that is my job.
Before I hired an operations manager, I hired an operations manager.
That's who I'm talking about.
My job was so revolved around assigning tasks and
checking in the progress of pro projects and the progress of team,
the team and making sure that everyone, you know,
crossed their mark their things and tasked as complete. And it was exhausting.
And this took up a huge percentage of my time where I could not
focus on the more important things like scaling business,
making sure the students and the clients that came into the company are well
taken care of.
And so I had to really put my foot down and force myself to hire an
operations manager to take over my whole entire team as
far as operations wise, which has definitely been amazing.
And it's been the reason I've been able to enjoy my time with my son and be
confident that my business,
as I stepped away is running like a well oiled machine and all of the moving
parts and income streams that are generating money are continuing to do this
because they have oversight that does not require my time.
And so I knew I was definitely on the right track to have the business of my
dreams. And I was definitely in position because a lot of my income stream,
almost all of them are,
have potential already are passive or have the potential to be
90 to 95% passive. And I say passive,
I should say more of like recurring and automated revenue.
That's more of an appropriate term in my opinion.
But I really had to put my foot down and hire the support.
I needed to be able to be able to take my foot off of the gas where I
didn't really need to have it.
And so I would say make sure that your business model is something that you can
build up. You can build the brand.
The business model makes sense to the lifestyle that you want to have.
So maybe that's implementing more digital products to sell and to make it more
passive. Maybe that's if you're doing some type of coaching,
maybe that's hiring another coach,
that's an expert at what you do so that they can help you with coaching calls in
a, in a group setting.
Maybe it's going from one on one clients to having a group coaching program.
That's what the, those are the things that you had to think of.
And going back to like the clarity and the point I was making before those,
the way that you're really going to get to those 10 K months fast is picking a
business model and a side hustle in the beginning.
That'll be conducive to the goals that you have, if you want more time, freedom,
because you're not going to choose building an Etsy store that requires a
lot of, you know, handmade products. And a lot of, of your time up front,
you probably won't want to choose that. Okay.
It's a combination of both monetizing your magic or monetizing what you're
really good at and your passion. In addition to a business model,
that's going to allow you to be able to free up a lot of your time in the long
run.
And that's going to make a lot more sense to all those hustle hours that you
have to put up in the beginning. It's gonna make sense, right?
You're gonna be hustling, but you're, it's gonna be a hustle and a fun,
enjoyable journey to the end goal. All right.
Thank you so much for making it to this point in this video.
If you love this video, don't go away.
Cuz this video that's coming up next is going to give you 15 different digital
products where you can realistically make over a thousand dollars or around 1500
bucks per week. And if you're wanting to start at a side hustle,
these are the types of products I would focus on.
I'll see you right here in this video,
just click who doesn't love the lazy way in today's video.
We're gonna go over several different ways where you can start realistically
making around $2,000 a month. Even if you're a brand new beginner.