So to create a consistent income online, first, you need to something to sell, whether it’s your own product or service or someone else’s, and an audience to sell it to.
When it comes right down to it, how long it will take you to start making money and then make enough money to quit your day job depends on a few factors.
How much time do you have to dedicate to your side hustle each week?
From doing your research to building a website, marketing yourself online and creating consistent content – all of that takes time.
But not as much as you might think. I built the website for my Free 5 Day Website Challenge in one weekend. I built the website for Pep Talks for Side Hustlers in one weekend.
But what can be really challenging is making TIME for side hustle when you work full time and have a family. The more consistent time you’re willing to dedicate to it, the faster it will grow.
Click here to get your free strategy guide, 10 Ways to Create More Time for Your Side Hustle
How much money are you willing to invest in growing your side hustle?
From buying the tools and software you need to create an online business to investing in education to help you fill your knowledge gaps or a mentor to help guide you and even paid advertising to help you get the word out, the amount of money you’re willing to invest in your side hustle can determine the rate of growth.
But again, it doesn’t take as much money to run an online business as you might think.
I’ve done it both ways. When I first started my side hustle, I spent the least amount of money I possibly could, buying only web hosting and a couple of other tools to help me grow my email list. I refused to spend any of my own money on my side hustle as a matter of pride – but really, I was masking my own fear of failure.
If I didn’t spend any of my own money, if it didn’t work out then I didn’t really fail, right? No matter that I spent every waking hour outside of work consuming all the free content I could get my hands on to try to reverse-engineer how people like Pat Flynn or Marie Forleo or Chalene Johnson were running their businesses online.
I think back on it now and it’s kindof funny that I totally didn’t bat an eye to spend $50 on dinner with my husband, but it pained me to spend $75 onweb hosting – and I refused to spend $97 on a course that would give me that answers that I spent 10 hours researching on my own!
I definitely put some work into shifting that mindset, and now I make much better decisions on whether to invest my time or my money in an outcome.
If you’re short on funds, you can make up for that by spending more time doing things yourself.
And if you’re short on time but you can invest more money, you can speed up the process.
And if you’re like a unicorn and you have lots of time and money, well, the sky is the limit!
Show Notes:
Get 36 months of web hosting for just $2.95 with Bluehost here.
Learn how to build your website with my Free 5 Day Website Challenge here.
