3 traits that turn a side hustle into wealth

3 traits that turn a side hustle into wealth

Opinions expressed by Entrepreneur taxpayers own.

Everywhere we look today, people are talking about side hustle. Everybody wants one. Money is tight, so most people welcome the opportunity to open up a new source of income. Thanks to the power of the internet and the lessons we learned from the pandemic (namely, that business can be done from anywhere), the opportunities for side hustle are greater than ever, and things are only going to get better.

“Side hustle” is just the new popular slang for what most of us have been doing for a long time: making ends meet! It is anything we do that generates extra income or saves us money. A side hustle can be active (crafting, teaching, delivering) or passive (renting property, investing in stocks or businesses).

There is nothing wrong with a side hustle being a way to make ends meet. A side hustle is often something you do because you love doing it anyway! You can start as a hobby (or, like me, because you suddenly have the opportunity) and continue because you’re having fun. It might not even occur to you at first that you could make money doing something you’re happy to do for free.

Over ten years ago, I started a side job that eventually grew into a multi-million dollar corporation. I can’t promise that every side hustle has the potential to become a nationally recognized brand. Still, with a balance of passion, persistence, and discipline, a side hustle can become your ticket to greater financial security and even wealth.

Let’s talk about the three traits I relied on to get there and how you can go deeper into yourself and find the same power.

Related: 5 Keys to Turning Your Side Hustle Into a Successful Business

Passion

When I started my business from my kitchen table, I had an eager passion to find a way out. I had loved and studied glamor confidence since my childhood. I wanted to sell affordable, high-quality jewelry to women like me who didn’t have “diamond-level” money but still wanted to look like a million bucks. Women’s confidence has always been and continues to be the “why” of my brand. Excited about this idea, he just needed to find a way to make it a reality.

There came a time when I started making a profit from my sideline. I could have stopped moving forward at that point, and no one would have thought less of me. I had at least four significant obstacles, each physically real and each capable of stopping me in my tracks: I was a recent immigrant who was not yet fluent in English, had a shoestring budget, had no experience or connections in the field of fashion jewelry, and I was pregnant and experiencing complications that kept me on bed rest.

Looking back on those setbacks, I am amazed that I kept my focus. But I had a secret weapon. It might even have been a secret from me. I did not consider quitting as an option. He intended to go through with this plan, no matter what. I never allowed myself to become complacent. At my kitchen table, procrastination and defeatism were not allowed.

True passion is what keeps us going when we have excellent reasons to quit. Passion is where hustle and true money-making potential meet. My passion said, “No, there’s more to this than just an income stream. This can be bigger. I can bring it.” I kept learning, reaching out, asking for more opportunities and looking for more opportunities to build.

Related: Keep Your Entrepreneurial Passion Alive With This Simple Trick

Persistence

When you’re ready to take your side hustle to the next level (or levels!), passion leads the way, but persistence keeps passion from getting discouraged. Persistence is necessary because of how often you will hear the word “No.” No, you often can’t be funded, trusted, supported, encouraged, or set-free.

Persistence steps in and says, “Get down to business. We’re going to knock on one more door.” Because if you don’t keep calling, how will you know when someone is ready to say “Yes!” and let you in?

Bring persistence to your kitchen table. Remember that for every wonderful “yes” you may have to hear “no” 99 times, but that’s how you find the right door.

Discipline

Relentless persistence requires the occasional slip: are we being dedicated, or are we making the same mistake over and over again? This is where discipline plays its part. Sometimes you need to look at your methodology critically and see if a change is needed. Discipline says, “Let’s learn from our mistakes and ignore distractions, eat right, and get enough sleep. We’ll finish today’s work so we can start fresh tomorrow.” Discipline helps you avoid distractions and ensures your foundation is solid.

Passion, persistence, and discipline are essential components in moving from the territory of a side hustle to a thriving business. Nor are they mutually exclusive traits. Each trait cooperates with the other two, in a balancing act that can take some trial and error, but produces amazing results when you get it right.

The trick is to make sure the mix is ​​such that each trait gets a chance to work its magic. Passion fuels your fire, persistence keeps it alive, and discipline ensures you don’t burn out!

Related: 10 Powerful Ways To Master Self-Discipline And Lead A Happier Life

Leave a Comment

Your email address will not be published.