“The only person you are destined to become is the person you decide to be.”
– Ralph Waldo Emerson
Almost every year, it seems like I have a goal about creating a side hustle or extra descretionary income. Every year, it gets put on the backburner because something else takes precedence or I act like the new goal is more important. That’s because it was probably easier, not more important. This goal isn’t easy. Sitting her thinking about it seeems like a lot more work than giving a speech every day, sticking to a budget, or writing this blog post because those things can be accomplished, atleast poorly by simple completing certain tasks I’ve done before.
I’ve never started a side hustle which makes it scary. It’s a bridge I’ve been reluctant to cross because of all the hard questions you need to answer.
What should I do?
Who are my customers?
Will they pay me?
What should I charge?
Trying to answer the first question is why this question is difficult for me.
In my career I’ve mostly focused on completing analysis, quantitative and fundamental analysis, for investments, products, or business units. I feel like a freelancer most of the time. I love doing the work like writing this blog, creating an analysis, working with code, and then either writing or talking about what I’ve achieved or trying to achieve.
Then there is also the matter or money. I’m one of those people who wants to do everything on their own.
Whenever I tell people about my goal of publishing a blog post everyday. The first thing most people ask me about is money: adwords, comments, and things like that. This blog isn’t about making me an income. I do it because I felt like I needed to write. Hopefully, someone finds these posts helpful or interesting but it’s also for me. I’ve found that writing this blog is a great way for me to think about what I’m working on. Not all those thoughts get published but a lot of them make it on this blog.
Eventually, though I hope this blog leads to money. Not from sponsorship or adword revenue but from being the place where my trail is located. I hope people come here to see what I’m working on and realize that we should work together.
The questions about money and this blog are similar to this goal. Do I choose a side hustle I could start earning money today or something that may take some time to grow? It’s an important question and it depends on your current goals.
For me, I think I know the answer. The main reason I want to start a side hustle is to earn some extra income and diversify my earnings. For better or for worse, that’s what I want out of this goal and it’s how I’ll focus my efforts this year.
By the end of this year, I want to have a profitable side hustle up and running at least sometime during the year. I’m not saying this is going to be a long term business but I want to finally cross this bridge and achieve this goal. I want to create the habit of starting projects that evenutally make money.
This is the year, I quit worrying about planning and preparing. I’ve done plenty of that. There is always a reason not to do something. This is the year I start what I want to achieve.
Similar to the quote above, this is the year I decide to be the person I want to be.