4 things to know before starting a side hustle

Nowadays it seems like more people are trying to build side hustles. According to Investopedia however, nearly half of all small businesses fail within 5 years. When people ask me how I grew The Reach Series over the past 4 years, I tell them it involves these 4 things. With the excitement of 2024, I feel this is an important and timely blog chapter to share - Happy New Year!

Luck and timing play a role.

A lot of people tell you they have a magic formula to success. Every ad you see on social media tells you about the “secret” to financial freedom. Many won’t tell you about the factors that timing, luck, and their network played in their achievements. Give yourself grace if things aren't taking off right away. That’s why longevity is key. The more you stay consistent and apply the other tips mentioned below, the more you will position yourself to experience lucky breaks in this process.

Try not to focus on money right away. 

When I started in 2020, money wasn’t my focus. What motivated me to launch The Reach Series was creating a platform to help people address their mental health struggles in engaging ways. Vince Luciani of Legacy Coaching helped me in this journey. I spent months writing endless pages about what I hoped people could take from my messages, and my business model (that came a year later). Building a platform rooted in genuine interest positioned me to have the longevity to build an audience and make money eventually. Your blueprint may be different, but this is a tip I personally learned from different business owners and leaders across North America. I'll also use a brief example on blogging.

Wix shared a great article on how to make money through blogging. You can access it here. The article mentions that it takes an average of 20 months to see money with blogging. So if you had to wait 20 months to make money doing something consistently, I'd suggest finding a way to tie it to your genuine interests, values and skills.

Be open to change.

I started my business hosting virtual workshops only. Now that I've done 60+ speaking engagements in-person and virtually, I’ve learned what it means to be adaptable. Coordinating events, being a keynote speaker, content creation that involves anime, coordinating wellness programs and even selling customized apparel are some examples of areas I now offer through my platform. That's why I believe the more you incorporate your skillsets and interests in what you do, the more doors you continue to open.

It won’t all be fun. 

The hours of administration, outreach, grant writing, and crisis management are some examples of the hard work that you also have to do (some of it can be fun depending on who you are). The more you can embrace the grind, the more you can keep building a platform doing what you enjoy. At the same time, don’t let the grind consume you. Money is great, but there’s much more to life than money.

If you want to learn more about my business strategy or how you can book me to speak on topics like these, feel free to explore my website and connect with me. Good luck!