Why Everyone Needs a Side Hustle and 4 Ways To Create It
Many people are dissatisfied with what they earn, but find the prospect of leaving their job to find a better paying one exhausting. Margie Hulse, a Wealth Creators Anonymous facilitator for Access Consciousness, has always found the idea of just having one 9-5 salaried job unusual, and thinks that everyone should have a side-hustle, or three.
Margie first developed an interest in money at the tender age of 21, when she started working for an accounting practice, and this only grew in her next role in the department of Superannuation at Australian National University.
“I was in a secretarial role, but sat in on hundreds of meetings about investing people’s money and making it grow for them. It was fascinating, and sparked a lifelong interest in how people become wealthy.” Margie has gone on to invest in property, run classes, and own several successful businesses (all at the same time). She is passionate about educating others to generate income in ways that work for them.
Side Hustle – Perfect For Multiple Income Streams
“I’ve always believed in multiple-income streams” says Margie. “It seems really restrictive to go to a job, and have your pay determined by a company’s view on what you’re worth. There are always extra ways to make money, and often one of those takes off, and you don’t even have to continue with a regular job any more. When I was very young I was always taught to save a bit, and then invest in something. That side hustle of making pickles, jam or restoring antiques might make you a bit of extra cash, which when invested, could make you even more. It gives you a feeling of possibility, and how there doesn’t need to be a ceiling on what you earn every year.”
So what do you do if you have no idea of what you can do as a second income stream?
Margie has some tips:
Think about what you like to do
Is fashion your thing? Maybe you can buy great pieces from op shops and sell them online. Or maybe you’ve got an eye for furniture, and can restore and sell online? Are you a baker? People will always pay for home baking, or outsource baking their children’s birthday cakes. Are you good with cars? Maybe you could buy an old one, fix it up and sell. Have fun with your skills, and see how you can use them to generate wealth.
Don’t get caught up in overanalysis
Start something small, and test the waters. Maybe just talk to a few friends, and ask them if they would buy your soaps, hot sauce or whatever it is you’re thinking of selling. Ask yourself “what’s one small step I could take towards having multiple income streams today?
If you’re nervous, look for an existing structure
Many people give network marketing a hard time, but it’s a great option if you don’t want to go through the hassle of working out your own business structure. It works well if you go into something you already love and use, (skin care, health products, whatever works for you), that will just sell itself through your enthusiasm.
Start with whatever you can, but always aim for a more passive income
The first thing to do is get something up and running. Once you’re earning good revenue, you need to look at how you can make that money grow, by investing or other passive setups where you can stop exchanging hours for dollars, and start making money in your sleep. You ultimately want to be freeing up time by doing less work so you can enjoy life.
So, take that step today. Do some research, start a facebook page, talk to a friend. Get that side hustle moving, as multiple income streams have the potential to create far more money than your job as an employee ever will.