« Side Hustle School

#526 - Weekly Recap: Getting Paid Your First $500

2018-06-10

In our twenty-third recap of Season II, we'll highlight the lessons learned in this week. Also: listener Q&A! 

Side Hustle School features a new story EVERY DAY of someone who started a hustle without quitting their job. You’ll learn how they got the idea, how they overcame challenges along the way, and what the results are. 

Side Hustle School features a new story EVERY DAY of someone who started a hustle without quitting their job. You’ll learn how they got the idea, how they overcame challenges along the way, and what the results are.  Share: #SideHustleSchoolShow notes: SideHustleSchool.comTwitter: @chrisguillebeauInstagram: @193countries 

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Oh hello, there what's up business critical about so glad you made it you listening to sign it, the school- and we are here with the weekly recap- just finished weak number. Twenty three of season to honest talk today about an important subject. The subject is getting paid your first five hundred dollars, in case you didn't know, every single story that we feature on the show makes at least five hundred dollars a month. On their side hustle. Let them go to make up more than five dollars a month, but I want to sit down as a goal like a baseline of saying. Ok, nobody is onsite us with school, it's not doing at least five dollars a month, because my goal is for every listener, or at least for every active Lester. Let's say No one who serious about doing this themselves that they're going to make at least five hundred dollars a month. So Is that so important? What I spent so much time talking about how people make money for the first time? Why do I choose to focus
I found the origin story or the genesis as opposed to what comes later. Well, I'm glad you ask there are three reasons and first before I take the three reasons, I should just note or just remind you who I'm making a show for we have all kinds of people who lesson in that's great, but when I make the show I'm thinking about that person out there who is really busy, does have forty hours a week to spare poppy doesn't have twenty hours a week despair. They got a limited amount of time. They already have a job that other responsibilities. Maybe they have a family. Maybe they have other commitments and so on, but they are attract this idea of investing in themselves and despite the fact that their so busy finding a way to create a new source of income, because they recognise that the waiter gonna saw that short term problem of being busy is by creating a long term solution for themselves. They don't necessarily wanna entrepreneurs, but they understand the world is changing and Asia look out for themselves. So that's what they're doing us sought with that in mind. Why is it so important to get paid your first five hours we'll, never won. It shows you that you can do it. Listen here over and over, it is a very common theme in my inbox on the roof.
I'm doing events or buck readings when people talk about the first and they get paid a partner paycheck, I'm talking about something it's different from your employer. I'm talking about all the projects I talk about in a show. It shows you you can do it right, you're, like ok, I've been on the outside looking around for a long time. I hear some of these stories. Maybe I've read some books about entrepreneurship, afore blacken frustrated, because I just didn't connect to those themes or I didn't really relate to the idea of taking out alone or thinking about angel investors or my first time employees or whatever. I guess not me, but when I set up this really if a website, maybe using one of the platform as we talk about or offering a service for sale in some existing platform per se, and so Take you up on it a stranger out there on the internet sends you money. You really do feel different when that happens, and it's very empowering suffer the stars you have experienced that already. If you think back, you can probably say yeah, like I do remember you know when I first started getting paid this way. It's a great misleads to my second point. The money itself feels different
five heard a a month in our is a substantial amount of money. I can pay some real bills, it's a car payment more than that for a lot of people who can help pay off dad can save, vacation and sign, but you can't live off five hundred dollars a month, at least not for most people still, even if it's not You need to live off of it's not a huge amount of money. It just feels different, like this. Five hundred dollars is worth more than the five hundred dollars you get paid from your job. I totally understand that maybe a perception thing, but perception is reality right like if you feel this way than its true for you. And I would say my experience of doing this for more than twenty years now. I still feel that way. If I start a new project new business, I might open a different bank account for it. And when the money starts, commanded a that bank account, even if it's a relative a small amount of money than but I'm getting from other stuff. For some reason, I just liked You're really happy, I'm like wow look, I made it happen so one? It shows you can do it never to that money itself. It was different and number three once this happens. For the first time, it's really hard to go back
saying you're gonna quit your job and go out. Do this for time. That's not the point for a lot of people, but I will say, is hard to stop. Ok, it's hard to go back like once. You ve got something: that's working, you'd want to give it up or that thing stops working. You gonna find something else. So I really believe if you have an experienced this yet if you're in that group of listeners that says like yeah sounds great minutes, I haven't done it yet. I really encourage you to get to work because, as I said, there are many people who start this into a for a while and are successful at it and then just completely stopped. You might stop that project. You might go through seasons and life. Where are you focus more on one job or one part of your life than others, but I dont think you but really gonna. Let it go because it just contributes that sense of independence, autonomy agency and empowerment. That's. Why believe, regardless of what your other goals are like, whether your goal is to eventually replaced the income, your job or whether you are just trying to pay off dead or, if you just exploring this world whenever it is get to that feeling get to that point of being able to say. Ok, I made my first five hundred dollars and I'm different now than it was before I made this happen.
I, let's go to our listener voicemail. I believe we have a question from Tyler in Hawaii and by the way, if you have a question or a comment about to know so that we can feature on the show. Just in that- and it's really simple- you got a couple options. Actually you can call the hustle hotline eight thousand four hundred and forty nine hustle, eight thousand four hundred and forty nine hustle or eight hundred and forty four nine thousand four hundred and eighty seven. Five three or if you prefer, you can also use your phone to make a voice, Mamma and email that Tippit cast its hideousness quota com or, of course, you can just type in him out to pass it satisfies gotta. Come we really do like to feature other people's places. The weekly recap, TV, Gottesman, you're, wondering about or just something you want to share with us. Don't hesitate to call him. I hear is today's collar Chris, I really let the show is taken over all the other Pakistan I listen to to. I have a few questions are starting at my side, hustle, I just got into veterinary school I'll, be starting in the hall and was wondering
It's not a school tat come, or course you can just type in emu to pass. It satisfies good outcome. We really do you like to feature other people's voices, especially in the weekly Rick credible if I'm not a veterinarian, just in veterinary student or ass, they could making it work and a chemistry animation service to help students with chemistry is really good, that I don't know much more animation. Any tips would be great thanks so much by ok, Tyler. First of all congratulate getting into that school. That's awesome and I want to focus on the first thing you mention your proposed mentorship resource for other students who want to get into that school. So right there there's your key point. You got into that school. The market for this potential product is students who want to get into that school. So there is your credibility right there, at least as long as the product for the resources position towards those students who want to get into bed school. If your idea was to provide resource
For other bets, I would say you're less credible, like you have a claim to credibility, because this is the field you're entering it be very different than if I was to create something like that. But it is of course a little different because you're just beginning this career, whereas for other students who want to get into that school, your credibility is timely because in some ways, you're actually Morven Authority on the subject. Into the right programme, then of that he's been practicing for a long time. They might be better practicing veterinary medicine because they had all that experience, but you have just gone through the process of preparation, application everything that you have to.
To get in south. Yes, your credible you're also relate, above all, in a market of specific, so people who are hoping to get an advance degree, especially in the field of medicine, broadly speaking, includes a lot of people who are willing to pay for help. They pay for tutoring standardize, TEST Pratt, Tommy some other stuff. So if you can first of all reach them and second of all make them a compelling offer, they should respond well, so I think it a good idea. Good luck! Let us know how cos Just a couple of comments on a couple of episodes from this week this week, stories featured a range of different kinds of cider souls like we usually do and also a range of different entities. What do I mean by that I mean that a lot of them were saw proprietorships. A couple them were partnerships, I believe at least an LLC or limited liability company, and I get a lot of requests to talk about the best legal structure for your business.
And I don't wanna talk about it. A lie at least not in detail, because I not a lawyer and be your situation- may be different from mine, which may be different from the story. Yesterday the one you're here tomorrow and so on. However, I would just say, generally speaking the simpler you can make it the better so people? That's just your idea going to do this on your own in a lot of cases, at least again. I can't advise you specifically, but in a lot of cases, just starting that up as a sole proprietor is totally fine. It is a okay, that's probably the best situation of the best choice for a lot of people. It's a business takes off. You can definitely get more advice, get more pacific sound, so you can change her structure later again. If it's just you and you won. It changes something later. That's not too difficult. If it is a partnership than you might wanna get more specific advice earlier on, because that can create some complexity and there are a few different ways that a partnership can be structured. Three important it when you beginning a partnership to make sure you have a common goal and again speaking of general advice. Okay, so not true for everybody, but.
Speaking if you dont have a compelling reason to have a partnership, then dont manufacture, one just because you like doing stuff with somebody is not a good reason to start a business with them most of the time overtime, one There's gotta be more interested in motivated about the business and the other. One is even though you can, I'm fine. Now you may not always get along. So if it is your shared vision come common and gone, and you can clearly decide who is doing. Why are that kind of stuff? Then that's great? Otherwise just do it yourself. Oh and by the way your two favorite episodes this week, at least as best as I can tell we're episode, five hundred and twenty one and five hundred and twenty three. The first about the guy, you weren't a hundred thousand dollars serving clients on fibre, basically selling services, five hours at a time They are a hundred thousand dollars and the danish pastry partnership, which makes up a series of events so right there. You have a contrast, a cell proprietor and a partnership. Coming up next week we got another set of strong stories. I'm really excited to tell you
A garage made vodka site hustle. This back has actually good by the way, which is a story of its own of active, it's worth drinking and my favorite. I think I'm I'm looking for a tear recording this one for you caught emotive designs, led to ten thousand our mind passive income, Erika somebody's making ten thousand dollars a month from emotion, designs. Emotions are the new pay pal. Apparently, before I sign up for the week, I just like to say thank you to everybody who makes this possible. Our production team features senior producer Ac Valdez, as well as Sarah Merit, and sometimes some other folks who fill in on the other side of things, show notes, content management and host wrangling. That's by Whitney career community management and sometimes cookie, is managed by judging in my cat Liberia go about on the team but doesn't manage anything, she doesn't even manage or software well, sometimes only I want to thank you the listener for joy
made, and a community of amazing people all over the world, foresight resourceful and what this very diverse, very disparate community has in common, is the desire to create more freedom for our lives. Our desire to do something meaningful our desire to create independence, to create an additional source of income which involves making money like. Of course, I want every person to be able to make more money. That's what I like with the top of this show talk about it every day, but I also believe it connected to a deeper sense of purpose. A greater sense of meaning. How would you like to think about it really? Do you believe this is important and good to do for yourself? That's why every episode, I always say, inspiration is good, but action is better and I hope you'll join me too. Everyday next week with more stories and actionable ideas, are episodes go on. Six. I want, I am eastern time every day by day Miss Priscilla, and this is side US law, school.
Transcript generated on 2020-04-28.