Class is in session! This new weekly series will have built-in structure to it, beginning with goal-setting and going all the way through the entire process of starting an income-generating project.
Not only that, but I also hope to work with a number of listeners to actually build that side hustle they’ve been thinking about … and we’ll do that in real-time throughout the year.
It’s all free, and there’s nothing for sale. This page will be updated each week as we add new lessons. Bookmark it!
CLASSROOM #4: Deciding on an Idea
Last week we talked about different categories of side hustles, specifically identifying the difference between products and services. Before that we looked at where moneymaking ideas come from.
What if you have a lot of ideas? It might sound like a good problem to have … but of course it’s still a problem, especially if the presence of so many ideas prevents you from making decisions and focusing.
Side Hustle School is designed for busy people who don’t have a lot of time, so if you identify with that description, you know it’s not possible for you to take action on all your ideas.
So … what do you do?
Today I’ll show you a tool I’ve used and recommended for years. I first wrote about it in the book SIDE HUSTLE—so if you’ve read it thereof if you’ve heard me talk about this before, I’ll use all new examples here to keep it fresh.
CLASSROOM #3: Different Categories of Side Hustles
Last week we talked where moneymaking ideas come from. I gave you a number of examples, including some suggested by listeners (my favorite: call your dog on Skype service). We looked at four ways to find high-potential ideas:
- Observation: paying attention to the world around you, perhaps noticing something that could be improved
- Problem solving: making lists of problems and brainstorming solutions in the form of products and services
- Asking questions: looking for the reasons, stated or subtle, for why people spend money (and deciphering what else they might buy)
- Experimentation: just trying out whatever comes to mind
Most business ideas fall into two broad categories: providing a service or selling a product, one way or another. A product is something you sell, a service is something you provide. Products can be digital and services can be virtual, but most of what we’ll look at this year can fit into one of those two big buckets.
CLASSROOM #2: Four Ways to Identify Moneymaking Ideas
Let’s talk about finding ideas. We’re going to go on an idea treasure hunt. Get your idea butterfly net … this is like Pokemon Go but for ideas.
If you’re following in real-time, that’s great because each CLASSROOM episode will have an assignment. I want you to work hard, but I don’t want you to work too quickly. Everything we do will build as we go along. And if you’re listening later, you can just go back-to-back.
Let’s start with this important question: Where do moneymaking ideas come from?
Consider a few of the stories we featured just last month (there are hundreds of other examples; I’m just highlighting a very small selection):
- Ep. 1066: Electrical Engineer Rides Demand to Dog Collar Empire
- Ep. 1070: Friends Turn Gift Boxes into Prosperous Project
- Ep. 1080: Musicians Tune Up Classical Concerts For Families
- Ep. 1087: Software Engineer Scavenges For Profits
More often than not, these projects come about because someone noticed something and then decided to explore it.
CLASSROOM #1: Goals, Agenda, and Your First Assignment
Breaking news: everything is new!
For the first time in three years—and I do mean exactly three years—we are reinventing the format of Side Hustle School. I’ve been working on this for several months and I’m excited to kick things off.
Longtime listeners, here’s what’s not changing —
1. The daily format. It’s still every day (7x/week) and still short, less than 10 minutes per episode on average. I know you’re busy!
2. The message. We’re still all about helping people with jobs embrace the world of moneymaking side projects. Maybe you’ve never identified as an entrepreneur, but you understand the importance of having more than one source of income.
What’s changing is that 2020 is The Year of interaction.
In real-time this year, we’re going to do a year of Questions and Answers and instruction where I guide many of our listeners—perhaps even you—as they go from idea to income. It’s essentially live coaching—for free—and you can listen in and learn as we go.