🚀 How to Start and Grow Any Side Hustle or Online Business in 2024
Are you looking for a quick and easy formula to get rich in 2024? If so, this article isn't for you. Dropshipping is dead, affiliate marketing doesn't work, and YouTube is a scam. Most people who say this don't understand the underlying reasons why they don't succeed with these side hustles. What they don't know is that it's not the business model that is failing, it's them. The reality is, if you don't know what you're doing, every single thing that you do, you will always fail.
The reason why I can start basically any side hustle, the reason why I have an online university and teach several business models, is because I've studied so much that every single business that I start just works. Every single thing that I touch turns into gold. If you and I started the same side hustle at the same time with the same resources, the chances are very high that I would succeed and you won't because you're a complete beginner. That's because you don't have the necessary skills that you need to be able to make this side hustle work.
In this article, I'm going to be showing you the five simple steps that you can apply to any side hustle and instantly make it work. One of the easiest side hustles that you can start in 2024 is podcasting, and that brings us to the sponsor of today's video, Riverside.
🎙️ Step 1: Get Good at Something
The first thing that you need to do is get good at something. Entrepreneurship is just like leveling up in a game. Most people spend years leveling up that character inside that RPG game instead of leveling up in real life. They go to college, they go to school, they get into debt, hundreds of thousands of dollars in debt. They pay teachers that don't have a business to teach them how to create a business.
If you don't know what to start, here are some high-level skills that you can start learning right now to build a side hustle or even a long-term business that is going to pay you handsomely in the future:
- High ticket sales
- Coding
- Copyrighting
- Content creation
- Video editing
- Acquiring leads
- Using organic traffic
Any of these skills that you learn are going to pay you a very high salary, even if you're working for somebody else. Forget online games, start leveling up your real character. Start playing GTA in real life.
💡 Step 2: Become the Only Option
Most people, when they try to start a business, try to offer a service that multiple people are offering. When this happens, you're competing for price. People are always emailing me with the exact same BS offers. Whenever I find someone that has a really good offer, it's because they're offering me something that I can't find anywhere else.
An example of this is thumbnail design service. Some people offer the actual design, but some people actually have a unique offer. They come to me being the only option. When a guy offers me thumbnail design, I never even respond to the emails honestly. But when someone comes to me and they say, "I can get you 20% more views on your videos. I can get you 20% more revenue per month. I can get you 20% more subscribers every single month," that's an email that catches my attention.
To offer an only option type of service, you need three things:
1. You need to be in a specific niche.
2. You need to tie your service directly to an amount of money that the customer can make extra per month.
3. You need to skill stack.
📦 Step 3: Productize Your Service
Once you productize your service, you're going to be able to sell that same service to a million people without having any more expenses. The reason for this is because when you productize your service, you turn your service into the same thing for every single person that buys it.
If you have to do a different service every single time someone buys something from you, that is not scalable. What you need to do is build a system for your service and productize it. Sell the exact same thing for every single customer that comes along. By doing this, it will allow you to create things like SOPs, which you can easily use to train other people to do that service for you, turning this into a real business that you can scale and outsource to other people.
💰 Step 4: Reinvest Your Money
There's something that most people call the middle of the road trap. Once you start your business and you start making some money, the biggest mistake that people make is to spend every single dime of it. What you need to be doing is investing all of your money and barely be able to survive, at least for the first years.
This is what's going to allow you to expand your business, hire a lot more people, and expand exponentially. Most people take their money and spend it on things that they don't need to impress people they don't like. This is why it's called the middle of the road trap because when you spend your money, you're not able to scale. Therefore, it's not permanent.
🤖 Step 5: Automate Everything
When you automate your business, it allows you to focus on what is important, what the owner of the business should be doing, which is growing the business and not working on it. Most entrepreneurs start a business and they don't automate their business. Therefore, they live to work. They don't have a business; they have a job.
If your business can't function without you, it's worthless. When you automate your business, it allows you to focus on what is important, what the owner of the business should be doing, which is growing the business and not working on it.
🎉 Conclusion
Now that you know exactly how to start and grow any side hustle or online business, it's time to take action. Remember, entrepreneurship is just like leveling up in a game. You need to get good at something, become the only option, productize your service, reinvest your money, and automate everything.
If you're interested in starting a podcast, be sure to check out Riverside. It's an excellent tool that makes recording and editing podcasts a breeze.
🌟 Highlights
- Get good at something
- Become the only option
- Productize your service
- Reinvest your money
- Automate everything
❓ FAQ
Q: What is the middle of the road trap?
A: The middle of the road trap is when you start making money and spend every single dime of it, instead of investing it back into your business.
Q: What are some high-level skills that I can learn to build a side hustle or long-term business?
A: High ticket sales, coding, copyrighting, content creation, video editing, acquiring leads, and using organic traffic.
Q: What is Riverside?
A: Riverside is an excellent tool for recording and editing podcasts.
Resources:
- Riverside: https://riverside.fm/
- AI Chatbot: https://www.voc.ai/product/ai-chatbot
