How To Make Extra Money On The Side

How to make extra money on the side. So let's get started. We're going to talk about it at the end. I'm going to give you a shocking revelation. Shocking and it's the number one mistake most side hustle side folks do and don't even consider. So get a pen and paper. We have a lot to talk about today. So specific elements are about five things like what is the extra money? What's the side hustle, right? That's kind of the term everybody's been using. I also have a term for folks that are under 18, which is never pay your kids an allowance. So I'm going to talk about those. Just how do you make some extra money? I have a whole book called Put More Cash in Your Pocket. How to do $500 to $1,000 extra a month. And I'm going to come back to that, but we're going to talk about when do you start? When do you need a business plan? What are the legalities of it? Number four, we're going to talk about when that side hustle becomes a hustle and then that big number one mistake that everyone makes. So let's begin. So what do you do to make extra money? So first of all, look at your skillset. What do you know how to do? So for those of you that are older, what have you already been paid for? Whether it's a job or it's a contract, what you like to do when you were younger. One of the stories in The Millionaire Maker is about someone who when I met her was an assistant, a personal assistant, became an executive assistant, really just wasn't getting the vibe of it all. And I said, what did you like to do? Like, if you look back at all the things you've done, she said, when I was really younger, like right out of college, I worked at a vet clinic and I love animals. And I said, well, then let's build a company side hustle around that. So she kept her executive assistant job while she started dog walking. Well, dog walking became home services and the rest is history. Go read The Millionaire Maker. I tell you the whole story of how she became a millionaire. So what are your skillsets? What have you been paid for? And then I want you to do a little bit of a revenue model, right? So a revenue model is how much money do you need to make or want to make? In my book, Put More Cash in Your Pocket, it's startling. What caused me to write that book, because it was in 2009, so we were doing the crash of 2008, 9 and 10, is we did a little analysis of the data and shocking, shocking to find out that each family that went into foreclosure during that time period, they only needed to make 742 extra dollars, 742 extra dollars to have kept their house and not gone into foreclosure or bankruptcy. Like, that's it. So you say, well, an extra thousand a month is 250 a week, you divide that by five days, and that's $50 a day. Like any of you, even your children can make $50 a day in any sort of a side hustle. So again, what do you like to do? The places to look are your neighborhood, who needs their lawn done? Who needs extra like handyman things done? My son used to, you know, shovel snow for the neighbors. He loved to do dishes, believe it or not. And up in the mountains, it's hard to take your trash out. So he would use his truck when he was 16, and he would help take trash down to the dumps. But what do you like to do? What can you do? What's something simple? My daughter goes to our neighbors who has chicken and gets eggs on a regular basis. So she gets paid 10 bucks for every trip over to go get eggs. Simple stuff. What else can you do to contribute? I can tell you a big one that is just loud and center right now is tutoring. I had so many people are homeschooled. And I don't know how many parents, especially moms are saying, I don't know how to, I don't know how to teach my kid. So tutoring is huge right now. And if you could focus on what I call the opposite ends of the bell curve, right, the special needs and the special gifted, like those two groups of kids need a lot of help. And the schools don't even like support those. I could go on and on. What do you like to do from dog walking to dog care to we just missed the season, but holiday lights, holiday decorating. My mom started doing a little side hustle decorating wedding cakes. Wedding cakes became a huge catering business that actually did an addition to our house when I was growing up. So side hustle, what to do is not difficult. So whatever is easy and fast, that's what you're doing. When do you start right now? Right now would be the answer. Before I go on to when to start, I want to just reflect back. And in the notes, I'm going to give you a program that my son actually did when he was young called never pay your kids an allowance. So never pay your kids an allowance actually has some structures for what we're talking about. That's why I want to give it to you. And it has tasks lists and negotiating lists and pricing lists. So the reason you never want to pay your kid an allowance is just like designing them to have a paycheck. It's just a fixed amount of money on a regular basis designed for what? What do they have to do for it? So never pay your kids an allowance is a great structure for you to do for your kids. But quite honestly, there's a lot in there that will work for you. When to start right now? Business plans. Do you need them? I'm a huge fan. I wrote a whole process. It's about a four hour process called build, lead and protect your business. So absolutely. I think you need at least a strategy. You need a funnel. You need a way to opt in. You need your pricing. You need some basics so you can get going. And if you're reselling something, you're going to need a resale tax license. So the best and safest thing, walk down to your county clerk in your county where you live and just ask them, I'm going to start a business. What documents do I need? What business license, resale tax license? What do you need to be legal in the county and just get going? So number four, when does the side hustle become a hustle? Well, clearly when you want to quit your job. But I'm also going to say if you're doing this to drive into six figures, you're not doing a side hustle. You're going straight to the hustle, which means you're going to build a marketing plan, a sales plan. You're going to have accounting. You're going to have fulfillment, operations, technology, customer service. You're going to build a team because this is not going to be you doing all the work. So frankly, I have a whole talk that I do about the hustle versus the side hustle. If you're going to get out and go make money, just go hustle. I can just promise you it is an easier journey to get well into six figures. I actually have a challenge. At the end, I'm going to give you an application to apply. Do you qualify to make $100,000? I put a guarantee on it that you'll do it in 365 days. I know exactly how to help you make six figures as an entrepreneur. And why? Because then you have the money to hire the team. The side hustle is just a little bit of money to kind of help out. It's not going to get you anywhere. And it sure better not be used to get you out of debt because as a millionaire, I'm going to get you back into good debt. So we're just going to restructure that. So before I give you the big revolutionary like 911 thing you must do, in my opinion, I want you to subscribe to my channel. So I want you to click on the link, check the notification button. And those of you and your family need to be listening too. So share it, like it, comment. You say, I want to learn more about, go to that comment section and our team checks it every day. And that's what informs the next videos that I'm going to shoot for you. Right? So we're going to be doing this together. It's called financial literacy. You're going to learn a lot this year. So here's the thing I'm going to say about a hustle and a side hustle. Should you be incorporated? Yes. If you're 18 years old, you want to live corporate life and you want your phone to your video, to any light production, to your car, to your children. Do you want things to be written off? You need to be incorporated. You as an individual don't have the right. Yeah. You get a little schedule. See, it's got, you know, a couple of little trinkets you can do, but now I want you incorporated even with a side hustle. I want you straight up side hustle, the hustle and LLC and S corp or C corp. Here's how we're going to help you determine it. You're going to go take my quiz. I have a financial personality quiz. You're going to take the quiz. It takes about 30 seconds. It's going to tell me who you are. You're going to fill out an application with the application. You're going to have a conversation with my team. What kind of company do you need? Right? So I'll send that to our experts. Do you want our a hundred K challenge? Like what do you want today? Because if you just need some extra money, let's get a real plan and go get a lot of money. You might as well, because I'm going to make you a millionaire in a very short period of time. Three to five years is my promise. Click on the quiz, the application, and remember never pay your kids an allowance is in there too. I got a lot of gifts for you today and we'll talk tomorrow.