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Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.

Should You Start a Side Business?

Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.

Listen Money Matters

Careers, Business, Investing, Education

4.42.3K Ratings

🗓️ 11 February 2015

⏱️ 45 minutes

🧾️ Download transcript

Summary

We talk a lot about side hustles on the show. Today we’ll discuss if you should start your own side business. A side business can be lucrative and the creative outlet that your 9-5 job isn’t. But it can be a lot of work and time. We’ll break it down so you can decide if it’s the right decision for you. Both Andrew and Thomas have had various side hustles. In fact, Thomas’s site College Info Geek, which is now his full time job, started as a side hustle. That won’t be the case for all of us, but you can still make some extra cash doing your own thing. Client work side hustles can be lucrative but frustrating. You have to create someone else’s vision no matter how crappy or ridiculous you think it might be. Sensitive artist types might want to stay away from client based hustles. A side business shouldn’t be solely about the money. It should enable you to do something you love doing. Making money on that is a bonus. It takes about a year and a half to start making money on a side business. Do you love doing whatever it is enough to do it for free for that long? How much time do you have? If you’re watching TV for a few hours a night, you could use that time to start building something. If you work, are in school, and have a family, your side business may have to wait. We want to know what kind of side business you have in mind and what you want to know about starting one. Leave questions in the comments or send an email to [email protected]. Show Notes Hitachino Nest Beer: A white ale. Backpocket Brewing Penny Whistle: A Bavarian ale. College Info Geek: Thomas’s info on starting a website. Earnest: Refinance your student loans and save some money. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey guys, I wanted to share something new I've been working on.

0:05.7

It's called Seeking Profit and it's a podcast where we talk about the second phase of my

0:10.2

personal finance journey building online businesses.

0:13.9

These businesses earn money while I sleep and have detached my time from my income.

0:19.2

Since 2013, I've generated millions in revenue with these websites.

0:24.2

I felt it was long overdue to create a show in Listen Money Matter Spirit that taught the

0:29.6

ins and outs of online business building.

0:31.6

This is my biggest passion and if you're interested in coming along for the ride, just head

0:36.2

over to SeekingProphetShow.com or search for Seeking Profit on YouTube or your favorite

0:42.3

podcast app.

0:43.3

We're Seeking Profit!

0:44.9

Hey everybody, welcome to Listen Money Matters.

0:52.9

Money doesn't sleep unless you have it in a point to zero one percent savings account.

0:58.1

My name is Thomas and I'm here as always with Andrew.

1:00.7

Andrew, how are you and what do you drink it today?

1:02.7

Great man, it's snow day here in New York so I am home.

1:07.0

I heard about that.

1:08.4

Looking at the feet of snow in my backyard and I am not doing work, which is a great Tuesday.

1:15.9

I am definitely doing work.

1:18.6

Have you gotten the snow yet or not?

1:21.2

I don't pay attention to the news or whether.

1:23.7

There's a little bit happening now worth discussing.

...

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