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Afford Anything

Start a Micro-Business & Build Multiple Income Streams, with Nick Loper

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.63.4K Ratings

🗓️ 10 February 2023

⏱️ 63 minutes

🧾️ Download transcript

Summary

#427: Okay, maybe the phrase “side hustle” is overused. But it’s also misunderstood. “Side hustle” is a catch-all term that people use to describe everything from low-paid gig economy labor – Doordash, Uber Eats, Rover – to six-figure consulting for Fortune 500 companies. On the remote-work side, it includes everything from freelance graphic design (services) to selling bundles of presentation deck templates (digital products). On the physical goods side, it includes everything from wholesaling (real estate) to flipping antique grandfather clocks (personal goods). On the e-commerce side, your side hustle might mean starting your own manufacturing, white-labeling and shipping services, in which you distribute toothpaste or trash can lids or desiccant packs. How do we make sense of such an umbrella concept? In this interview with Nick Loper, we learn how to wrap our minds around the huge world of hustles. We talk about how to understand the options available, choose a path, and start with minimal capital. This interview originally aired as Episode 85. Enjoy! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

You can afford anything but not everything.

0:12.1

Every choice that you make is a trade-off against something else and that doesn't just

0:15.4

reply to your money.

0:16.5

That applies to your time, your focus, your energy, your attention, any limited resource

0:21.0

that you need to manage.

0:22.4

And that opens up two questions.

0:24.6

First, what matters most?

0:26.6

And second, how do you make decisions that reflect your priorities?

0:31.7

Answering these two questions is a lifetime practice and that's what this podcast is here

0:36.3

to explore.

0:37.8

I'm Paula Pant, the host of the Affordable Care Podcast.

0:41.4

Many of you have been writing to ask about side hustles.

0:46.4

We've had a big influx of questions related to side hustles making more money.

0:52.6

We're seeing more interest in that than ever before.

0:55.0

And I think that's for a couple of reasons.

0:56.4

Number one, there's a lot of transition right now.

0:59.2

There was the great resignation that started during the pandemic.

1:02.5

There's the overall labor shortage, which gives people a lot of flexibility in the type

1:07.4

of work that they do.

1:08.6

And often that leads to the idea that, hey, if I've got flexibility in the jobs that I get,

1:15.0

what kind of flexibility do I have in the projects that I start myself, the things that interest

1:21.0

to me that I want to monetize?

...

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