Growing Your Side Hustle with Nick Loper

In the last few years, a lot more people are exploring the idea of a side hustle. It's only going to become more obvious that folks need to supplement their income if corporations are not going to increase wages or reduce hours. I think folks are going to explore more side hustles and that we're going to see a much bigger side hustle economy evolve.

Nick Loper helps people earn money outside of their day job. He's an author, online entrepreneur, and host of the award-winning Side Hustle Show podcast, which features new part-time business ideas each week. As Chief Side Hustler at SideHustleNation.com, he loves deconstructing the tactics and strategies behind building extra income streams.

We're talking all about podcasting, side hustles, and strategies for a successful business. Whether you're just starting your side hustle or you've been building it for a while, this episode is sure to give you insight you can infuse into your business.

The perfect business idea is the one that you're excited about enough to take that first step.

In this episode, you will learn the following:

1. What are the benefits of starting a side business?

What you'll hear in this episode:

• The best time to start a podcast is right when you’re ready.
• Where can you get started with a side hustle?
• What are some of the key success factors that you’ve seen in someone’s ability to go from side hustle to mainstream?
• What other creative side hustles are out there?

Here are some brief snippets from this episode:

[00:01:58]
Nick deconstructs different business ideas and the marketing tactics that make them grow. What inspired you to start the podcast ten years ago? The best time to start is today if it's something that you're considering.

[00:07:40]
We're going to be talking a little bit about side hustling today. I built my business on the side and then quit my full time job just over a year ago. Who are you looking to serve help and empower with your show and how you do it?

[00:11:31]
For those trying to start a side hustle, start with the pains and problems approach. The solution often comes in one of three ways. Service, product and content are all different types of business models.

[00:16:27]
There's still that room to use your side hustle time. Use your extra 8 hours or seven to 10 hours right. To build something that you care about that exercises some creative muscle. Under no circumstance start a business around your passion.

[00:24:28]
What are the biggest mistakes people are making when they're trying to start or build their side hustle? The biggest mistakes for me personally was like the slowness to take action or pay attention. The perfect business idea is the one that you're excited about enough to take that first step.

[00:25:49]
Another mistake I see is investing too much in an unproven idea. People who don't realize that all you need is a way for someone to pay you easily. Start simple, get ninja later. simplicity wins every time.

[00:28:20]
What are some of the key success factors that you've seen in someone's ability to go from side hustle to mainstream? Have a three to five year goal. Starting with something in mind that has some potential to scale.

[00:31:25]
Where are the lessons learned along the way that really impacted your journey as a side hustle grower? I'm struggling a little bit to come up with examples. The podcast definitely was for you, a big one.

[00:34:06]
It's never been easier to start something on the side. Imagine if we didn't have the Internet. The ease of getting something launched so much easier today. There's something for everybody out there.

[00:36:32]
What other creative side hustles. Let's give our listeners some share some examples. Steve Nadramia's Side Hustle was renting portable hot tubs. Tons of crazy examples in the archive.

[00:40:01]
The big thing is to just position it in your mind as an experiment. If things don't work out, it's not an abject failure. It's just a hypothesis disproved and we'll go try something else. 

Related episodes:

222. Why Building a Personal Brand Should be a Priority with AJ Vaden

218. How to Cultivate Confidence 

199. How to Set Effective Goals for the New Year

Resources:

Listen to Nick's podcast, The Side Hustle Show: https://podcasts.apple.com/us/podcast/the-side-hustle-show/id655135292

Visit his website for side hustle ideas and inspiration: https://www.sidehustlenation.com/ideas/

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.