Part four of a series on the “Side Hustle Bible” by James Altucher.
music selection: “Tornado Of Souls” — Megadeth
There are several things almost anyone who is feeling creative can do to build a side hustle. Even one that turns into a full time business. Covered herein is: Content Writing, Copywriting, Coaching, Consulting, Videography, and Buy a Business.
There are lots of online businesses that produce an enormous amount of content with the intent of eventually converting paying customers. They frequently pay for this content! Sean Ogle was a disillusioned Financial Analyst. He discovered freelance writing and it changed his life. His formula is simple. Find the blogs and businesses in the industries he likes to write about. Send an email and see if they are looking for content. Sometimes he needs to do some free work to get a foot in the door but this turns into paying gigs over and over. Use sites like ProBlogger.com or UpWork.com. Sean has sen multiple people build up to 2-3k per month in less than six months this way.
From there, use your cash flow to either bankroll your own business like creating a digital product or membership site. Alternatively, double down on your writing and create a content agency. One student grew his business so big he was able to hire several employees including his mother!
This is similar to content writing but it is a specific form of writing with a very specific goal: to create sales. There is a book called “The Accelerated Program for Six-Figure Copywriting” by American Writers and Artists, Inc. Heather Robson bought this and studied it. She and her husband ultimately moved to Montana to start a freelancing business. At first it was a sideline but in 2003 she threw herself into it with gusto. She now stays home to homeschool her daughter with a six figure income.
I’ll share the story of Nathan Teegarden. Nathan spent 16 years as a manager, consultant, and executive for several Fortune 500 firms. He was successful but unfulfilled. He was working jobs but wanted a calling. He decided to apply his expertise to helping individuals grow their careers. Eighteen years later, he has YourTrueCalling.com and has worked with over 750 entrepreneurs, executives, students, athletes, and even royalty to discover their true calling. Nathan recommends the World Business and Executive Coaching Summit to learn more.
Consulting is a lot like Coaching except the client is a business or organization instead of individuals. If you have at least some career behind you, there have almost certainly been things you were good at and trained others on. That is enough for you to become a consultant! Take Cinde Dolphin. At 55 she took a buyout from her marketing manager career with Coors Brewing Company. She wasn’t ready to retire but found sending out resumes was getting no traction. She started a social marketing consultancy that helps California wineries market their products. She could have assumed social marketing was a young person’s game but decided “marketing is marketing.”
Mike Richeson loved photography. He was curious if he could make a living at it but shooting wedding photographs was a fiercely competitive business. He realized his high end camera could also take video. There were lots of photographers to compete with but hardly any videographers. Her started approaching local businesses and soon was shooting video for dentists, wineries, clothing companies, doctor’s offices, and more to use on their websites and other online marketing. He could have been content with that but he also loves Brazilian Jiu Jitsu. He realized there weren’t any quality video reviews of Gis (the martial arts uniform). He created TheGiInsider.com and starting filming reviews. He was quickly hired by the biggest Gi manufacturers and made 20,000 in three months. He has gone further and branched out into making film for University promotion.
Buy a Business
It isn’t necessary to build a business from the ground up. You can buy an existing one, improve it, and grow it. Casey Gheen worked in investment banking and for several startups. But after giving birth she wanted to find a way to work from home. She visited a popular online storefront that is basically the Amazon of selling and buying businesses Flippa.com. She bought EcocentricMom.com and got to work streamlining the business. Ecocentric Mom was a subscription service that sent monthly boxes of Environmentally friendly products to expectant mothers. Casey was able to soon double the number of subscribers and now living the life she loves. Casey recommends the Editor’s Choice feature at Flippa.com to help filter through the many ideas. Another good resource is TrustedSiteSeller.com.
Devour your prey raptors!
In this series: