Netaji Palkar, Mankoji Rao, Trimbakrao are names of the few Senapatis of Shivaji Maharaj.
Did you know or hear about them? The UNSUNG heroes of his Shivaji Maharaj’s Army.
My father was the lone breadwinner of a family of 4 and his parents and other siblings. His family ran on the salary he earned every month. Today, he retired, taking care of his wife and himself. His children are settled.
How is he surviving? Today’s scenario with inflation on a high and he is retired, amazes me.
The answer is – a side hustle that didn’t make any noise but earned him an Income that he is enjoying today. He is living a comfortable retired life.
What was his Side Hustle?
Investments. He invested in various investment options which helped him meet the requirements of building a home, Good Higher Education for his children, investments for his retirement, and many other purposes.
In those days the term Side hustle didn’t exist. But I can say the investment schemes in which he invested are like the UNSUNG HEROES for creating wealth. He has been guiding us to do the same. This side hustle has undoubtedly made a significant impact on his wealth-building journey.
When he needed money in times of emergency, he would call it the “ Sweeping Strategy”. He would look at the resources that could fetch him immediate and good money from his different investments. All this was possible by focussing on cutting expenses, spending less, saving, paying off debts, etc.
Side hustles give you immense Financial Power as it comes with growing one’s income and then distributing it to different income streams. With proper planning, a good side hustle can help you reach your Financial Goals faster.
Most of our parents have created Generational Wealth. The wealth, which can be passed on to the future generation. In the olden days, this kind of wealth was created by investing in Real Estate, Stock Market. However today the same kind of wealth can be created by doing a Side Hustle.
The question that most people have in mind is, “ Can I make my Side Hustle my Primary source of Income?”
The answer is “YES”, you can.
Let’s turn our Side Hustle into a Primary source of Income
Where finances are concerned, we have been programmed to a scarcity or deprivation mindset. We have been taught and have seen that a lot of emphasis is put on clearing debts(Scarcity) and saving money(deprivation) as a way of going ahead with our finances.
Hence the need is to change our mindset toward Money. Instead of looking at money as a source of scarcity and deprivation, let’s look at it with an ABUNDANCE mindset.
We now have to believe that wealth can be created by increasing our income.
The Pandemic came as an opener and now people are looking for ways and methods of starting a side hustle. Side Hustle is now getting the credit for having the power to build wealth. Many people have made their side hustle their Primary Source of income.
Have an Abundance Mindset
It is the first step in building wealth through Side Hustle.Once you have this mindset, then you will see that a Side Hustle will become an integral part of wealth-building as it will get you Debt- Free, help you clear off any loans and most important will help you to have an Emergency Fund.
How much Time Do You Have In Hand
Technology is a big tool to help you begin your side hustle. Side Hustle is like the Green Salad, the Tangy sauce which takes equal time and energy to prepare.
A side hustle is a responsibility that you have to take care of along with your full-time 9-5 job. You may have to spend your weekends working over it, which means giving time to family, and friends.
Prepare your mind to be disciplined for the new schedule and effort you will have to put into the side hustle. There are some side hustles that do not require you to stick to a time routine. Like blogging as a side hustle, you can sit on a weekend and write blogs for the entire week.
However, if you have a side hustle where clients are involved, then you need to set a clear boundary in your mind before starting on a side hustle.
Your Network is a Gold Mine of Clients
Successful side hustlers have asked to first tap your network. And it has been proven that you can get good leads for your business through your network. Begin by promoting your business in your Network because at this stage Finding and Building a clientele is of utmost importance.
Send your introduction, your proposal letter via Email, social media platforms LinkedIn InMail, (do not forget to do it in compliance with your office rules). Send to people you know in the same industry as your side hustle.
Do not forget telling our family and friends about your side Hustle. Most of us avoid telling them thinking they will not hire us, but I recommend informing them because,if they do not hire us, they will definitely promote it within their network. In this way, you enter another set of group only by word of mouth.Power of Network is Immense.Use it.
With Technology around a lot of work is simplified.There are many applications, Softwares in the market that sort out many of your tasks. I have learnt and seen applications that when installed on your e-commerce store,it gets you repeat customers or lost customers by sending them Thank You emails,SMS,Push Messages when your customer visits the store,Offer messages. Softwares you can use to automate your systems which will give you more time to work on expansion.
Go Ahead invest your time and effort using the tools and technology and the resources – your connections.
Have a Mission
You need to have a Strong Reason for doing the Side Hustle. It could be anything, like a monthly home loan payment or savings for Retirement, which will keep you on the Go. It is this purpose that will give you the energy to continue despite all odds.
Many a times a side hustle helps you to explore a new passion and when you start doing good, the side hustle becomes your Main Hustle.I have seen many students who begin with small side hustles along with their education, have made it their main hustle.Engineering students in their quest to learn, explore and invest in side hustles like YouTube, Crypto currency are actually making big Money. Do you think they will want to get into a 9am-5pm job?
So give a mission to the Money you want to earn and believe me your Side Hustle will be a big Hit.
