How to actually start your side hustle TODAY
I’m going to share 3 steps to reduce your fears and help you start your side hustle today. These have absolutely held me back in the past, and following these tips has dramatically helped me move forward each and every day.
Every week the Bigger Pockets podcast (one of my faves and a must-sub) asks their guests What do you think sets apart successful investors from those who give up, fail, or never even get started? It's true, MOST people that want to start off on their own business, investment, or side hustle journey never do. It can be uncertainty of the process, not feeling like they can do it, fearing failure, not having the skillset to be successful, there is always something in the way from just STARTING.
Here are 3 tips to help you overcome whatever is holding you back and start your side hustle TODAY.
1. Relax. You don’t have to know it all before you start!
It's so easy to get overwhelmed in trying to figure it all out in any new venture. For me, my love is with real estate investing. And the truth is, it's impossible to understand it all. I started my own side hustle journey with my own home, knowing that I wanted to convert my basement into a legal apartment and rent it out. BUT - THERE WERE SO MANY THINGS TO FIGURE OUT! From learning local code requirements, to understanding how to deal with water flooding issues 1 week into the project (really, more on that another time!), to selecting contractors, to design and finishing and so much more. It was a LOT. And that is just one property. How was I going to do this at scale?
The answer - now was not the time to figure out every single step - that is completely impossible! You won't actually know all of what you need to learn until you start. So don't get hung up in analysis paralysis (I'm excellent at that, by the way). Trust that you will learn what you need to learn, when you need to learn it.
2. You just have to know what to do next.
https://www.instagram.com/p/CbGvHiYtkzg
I love @beardybrandon's "MINS” acronym. He asks what is the Minimum Important Next Step to achieving your goal. If you can break pieces down into smaller and smaller chunks, they eventually become bite sized enough that they are actionable. And usually, you can do that next important next step almost immediately.
In my case to create that basement apartment, I did get stuck. I felt like I had to figure EVERYTHING out - from financing, to building codes, to design elements, to picking contractors, to worrying about what my neighbours would think. I would ruminate and overthink to a point that I did not know where to start. The answer - just pick one thing, that seems to be the first thing on the list and do it! A quick brainstorm was all that I needed to pick a starting point. I could research the city website to learn the requirements and application process. From there, I could find out how to apply. And once that was done, fill out the first form in the application.
So choose whatever is the most important next step on your list - make it small and start there, and don’t fret about the rest!
3. Share your plans with people that you care about.
It is SO easy to defer taking action if you keep your goals and dreams in your head all to yourself. You can even write down the most detailed and intricate plan (which is still good, and you should do it). But, I've found that writing it down and coming up with the brilliant plan alone is simply not enough. You MUST find a way to have accountability. Whether it is an honest discussion with your spouse, your friends and family, or a personal coach, having someone around that you have stated your goals to immediately increases your chances of following through many times over.
Don't say I want to - say I am going to. Of course, if it is your spouse or partner you are going to want to be sure your life plans are on the same page before stating that you are going to out and out change up your career plan. But that's a topic for another day…
Next, say I am going to start by… - Then say the next MINS and be specific!
The next time you see them step up and tell them how it went with that MINS. That's it! That is enough to start building momentum. You will undoubtedly find that you will not only tackle that next step, but also several more. And you'll learn about 3 other things you didn't know previously.
That's what I did. I told my family. My friends. And my partner, Heather. And it scared me, in the best of ways. I felt like now, I've raised the stakes. I had better make it happen!
The key with these 3 tips is to get you from fear to action. We can all use help sometimes in getting over the hump to just get started and moving on working towards our dreams. So what is stopping you or what has stopped you in the past? How have you handled it? Let me know in the comments!