After being laid off during the Great Recession in 2009, the author decided to focus on growing his side hustle as a music producer for indie bands. Despite having no knowledge of being an entrepreneur, he was able to build two successful online businesses – a music education company and a business coaching brand. Today, he earns around $160,000 a month in passive income and works less than five hours a week. Through his experience, he has learned a lot about what it takes to create a highly profitable business and has shared his knowledge with over 3,000 clients.
The author’s No. 1 piece of advice for those looking to start a side hustle is to build a business that can scale automatically. Initially, he relied on what he calls “the hustle method,” where he put all his effort into getting clients and selling his services. However, he soon realized that by focusing on automation, rather than hustling, he could make more money and have more time. By creating discoverable content, offering free gifts to move people onto an email list, setting up email autoresponders, and developing digital products, he was able to create a sustainable and scalable business model.
The automation method that the author has developed consists of four components – discoverable content, free gifts, email autoresponders, and digital products. Discoverable content includes YouTube videos, blog posts/articles, and podcasts that answer the target customer’s biggest questions. Free gifts are given to move people onto an email list, where email autoresponders provide additional value. Finally, digital products such as online courses or paid community memberships are sold to generate income. By setting up this automated system, the author has been able to free up his time and grow his income.
Digital products such as online courses are the author’s preferred method of generating income. Filming courses doesn’t have to be time-consuming or expensive, as they can be filmed on a smartphone over a weekend. Price points for courses can vary depending on the subject matter, with hobby and niche courses ranging from $50 to $300, and business and money-related courses selling for $500 to $3,000. By creating a scalable and sustainable business model, individuals can set themselves up for success with their side hustle.
In conclusion, the key to a successful side hustle is to build a business that can scale automatically and be sustainable in the long run. By creating discoverable content, offering free gifts, setting up email autoresponders, and developing digital products, individuals can generate passive income and free up their time. Whether it’s selling online courses, e-books, or coaching services, having an automated system in place can help individuals grow their income and achieve financial success through their side hustle.
