If you are starting a business, blog or just building your own personal brand additional streams of income can help you to FUND your “dream job” and create your “perfect lifestyle”. A profitable side hustle will allow you the ability to invest in yourself with coaching, conference costs, marketing and business expenses that will assist you in growing your business.
It’s often said to make sure you have a “Plan B”. Well I also believe it’s important to have a Plan C and D!
On any given month I get paid from three to five different revenue streams. They all fall under the umbrella of some form of marketing/sales and align with my personal passions and skills but don’t take up a lot of my time.
1. Have a Strategy - Make sure the additional streams of income MAKE SENSE! They should connect and intersect in some manner. For example, bloggers who want to go full time can start NOW to pursue sponsored posts, develop their own eBook, brand t-shirts with their logo or start offering social media consultation. It’s all under the same umbrella!
2. Work What You Got - Tap into your talent! Is there something you already do well that you could start charging for? Baking cookies? Helping friends pick out clothes? Stop doing everything for FREE! You can build a side business naturally. It doesn’t feel like “work” when you are enjoying what you do and the additional income will be a bonus!
3. Benefit From Other Perks - Find an opportunity with additional “perks” besides the money. Think about what other short or long term benefits can be gained. Will it look good on your resume? Can you network and build relationships that will benefit your brand? Sometimes experience gained from a side hustle is better than the money. I am a freelance event promoter for a popular wine brand. When I work an event it’s always on my own schedule, I get to meet people, gain free access into industry events and of course all the free booze!
Creating multiple streams of revenue only benefit your brand in the long term. You need another source you can go to when Plan A (or B) hits a bump in the road. You want to ensure that you can leave a legacy of wealth and lead a life of financial stability. Use revenue gained from your side hustle(s) to fund your “BIG DREAM” and be strategic. Work Smart, NOT hard.