Side Income

Sources:

Here are some insights and advice on generating side income through side hustles:

  1. Finding Your Niche:

    • was inspired by Tim Ferriss' "The Four Hour Work Week" to pursue side hustles for passive income. Initially facing failures, he ultimately leveraged his skills in finance and passion for disc golf to start a successful disc manufacturing company, Arsenal Discs. He emphasizes the joy of earning from something you love. 1
  2. Financial Criteria:

    • advises ensuring that a side hustle can replace your job's income before transitioning from employment to self-run business. He stresses focusing on core tasks that create value and employing time block planning to separate your job and side hustle. 2
  3. Innovative Marketing:

    • highlights the importance of distinctiveness in marketing to stand out in a saturated market. She suggests leveraging new platforms like TikTok and securing free media exposure through resources like HelpaReporterOut.com. 3

      Pursuing a Side Hustle

      Cody shares how reading The Four Hour Work Week inspired him to pursue a side hustle and passive income. He talks about his failed attempts and how he eventually started a successful company called Arsenal Discs, which manufactures premium golf discs.

      ChooseFI

      083 | A Second Generation FI Case Study | Cody Berman
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  4. Using Your Skills:

    • discusses the concept of time-leveraged income, where you benefit more from passive or scalable activities than direct time-for-money trades. An example includes creating content like videos or blogs that continue to earn over time. 4
  5. Starting Small:

    • suggests starting with existing skills and minimal initial investment, such as selling Excel templates or offering services in an area you're already proficient in, and then scaling as you gain traction. 5
  6. Discovering Opportunities:

    • recommends looking for side hustles that match your skills and interests. He notes that the best side hustles allow for time leverage, such as offering specialized services or creating online educational content. 6

Each expert provides unique perspectives and techniques for building a successful side hustle based on personal passions, skills, and innovative approaches to marketing and income generation.

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