
You talk a lot about the differences between a wealthy versus rich mindset. Can you unpack that ? Yeah. A lot of people have materialistic things as their Goal. They want to be rich. But what I really want people to understand – and what has been critical to my success – is valuing your time over everything. A wealth mindset is, I know that I’m the moneymaker. My brain is the moneymaker. So, I should , protect my time, my peace , and my health as my primary source of wealthy generation.”
That means making decisions like, instead of walking late at night, where you are going to be stressed out, you take the Uber. Maybe you brought a first class on the way to the big meeting because you want to be refreshed, so you can close the deal for your business. It’s a lot of different choices. But the whole point is, you must value yourself as an asset that is a key to unlocking your full potential.
And you can always get more money. You can’t get more time, never ever, ever, ever, ever.
What financial advice do you have for entrepreneurs who want to turn your side hustle into a full-time hustle ? don’t commingle all your funds. Have a separate bank account for your side hustle. It will give you more visibility into how you’re doing. Write out your budget for the next three months 3 to 6 months. Make sure you have enough savings a build an “if this,than that” plan. Like “if I’m not able to replace my salary with my side hustle within the next three months, then what am I going to do Because then once you have the plan, if if it happens, you’re not emotionally paralyzed and you can act.
Let’s run through a few side hustle scenarios. If I sell merch on Etsy, and I’m not sure if I can become something bigger, what do I do? If you also have a day job, then the first question is m is this going to replace your income or just creating supplemental income? If you’re making a profit and if it’s not taking up all your time , and if you’refeel like you can continue to grow it at a slow pace then do that. if it’s not broken, don’t try to fix it. I think a lot of the times people will try to solve a problem then maybe isn’t there
here’s another scenario I have an idea for a side hustle. How do I know if it has legs? Are you making money? If you’re not making money it’s a hobby. The next questions is how much did you spend on the side hustle? If you’re making 10,000 a month but you’re spending 10,000 a month you’re treading water. I need you to be moving forward with your side hustle.
Do you suggest testing your side hustle I do? Testing is smart you can run a Facebook advertising, you can create a landing page before the products ship. Do a waitlist. There are types of ways to test without putting too much of your money on the line.
Do you have a money to that helps with financial anxiety? Is everybody to put it on with someone else? I will not give you. Invest in your skill set? And then your core capabilities, so you can always make sure you have an income
I’d say my writing is a hobby. Or a ministry. Definitely not a job. I give away more books than I sell, but it gives me satisfaction, knowing they’re being used for Bible studies in jails, pastor training in India, and a youth group in Uganda, among other things. I’m blessed not to need the extra income, so the Lord can speak through me to anyone He wants to, even (especially) those who don’t have the money to spend.
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