5 Crucial Steps to Building a Successful Side Hustle | The Lifestyle Fix

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Hi i’m tasha from one big happy life on behalf of the financial diet and this is the lifestyle fix brought to you by skill share in today’s video i’m gonna be sharing a behind-the-scenes look at how i took one big happy life from a side hustle to a six-figure business in just over two years while working a full time job as a lawyer and raising two kids so here’s

How one big happy life started in 2016 after three years of infertility i gave birth to my son reeves at the time i was working at a law firm with reasonable hours but with a crazy commute and no real option to work from home regularly it was hard for me to go back to work and leave reeves at home and after a few weeks the three-hour commute really started to get

To me i got home just in time to nurse him and go to bed with him so i decided to switch jobs to one that was closer to home i found a job in the same field with a short 15-minute commute and everything was awesome until the other shoe drop it turned out that the job had crazy travel requirements where i’d be gone four consecutive weeks at a time and only home on

Weekends on top of that my boss was the worst for the first time in my life i actually would cry on sundays because i dreaded going to work that much of course i immediately started looking for a new job but that would take time meanwhile i was miserable so joseph suggested that i find a passion project to take my mind off of just how much i hated my job so this

Was november 2016 that same month i got a hundred dollar check in the mail from youtube it turned out that a video i made where i cut off my relaxed hair so that i could go natural had been amassing views and dollars over the previous three years and had finally made enough money to reach the hundred dollar payout threshold i took that as a sign and started making

Youtube videos my first videos were a mix of hair tutorials and vlogs which also happened to document my search for a new job i switched jobs in january 2017 just one month after starting to make videos with my career back on track i didn’t need that fun side project anymore and at that point it was only making $5 a month but it turned out that i really enjoyed

Making videos so i decided to keep going in september 2017 we had our first thousand dollar month in november 2018 we had our first ten thousand dollar month and in january 2019 we had our first twenty thousand dollar month so now let’s talk about some of the things that i did that helped my side hustle turn into a six-figure business in just over two years number

One i was consistent when i first started making youtube videos i made them intermittently i would make to one week and then not post any videos for a few weeks before posting three more videos in the same week i realized that my channel did better when i posted on a more consistent schedule so i committed to posting at least three times a week once i did that my

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Channel really started to grow there were times especially in the beginning when it was really difficult to stick to that schedule i was making something like $5.00 a month and spending 10 to 15 hours a week shooting and editing videos then we’re barely getting any views when it comes to having an upfront return on your time investment youtube is definitely not the

One but it does have the potential to snowball over time if you stick with it that holds true for just about anything if you want to accomplish your big goals you’re gonna have to commit to showing up consistently and doing the work even when it’s hard even when it sucks and even if you have no idea whether it’s actually gonna work out the way that you want it to

Number two i prioritize self-improvement and reinvesting in the business i’m a lawyer in undergrad i studied economics and american studies not photography or graphic design when i started making youtube videos i didn’t know a thing about video production i had an old dslr and a basic idea of how to use it to take pictures but that was really it over the past two

Years i’ve learned how to storyboard shoot and edit videos including basic color grading and sound mastering and beyond just the technical aspects i’ve learned how to build a brand with a defined message that serves a specific community of people how to pitch and work with other companies how to create products and other offerings that my community needs and how

To create and manage a business budget and that’s just the tip of the iceberg and instead of just pulling money out of the business i poured much of it back into the business and into my own education i upgraded my gear which made for better videos i hired an attorney to formalize my business and draft a partnership agreement with joseph we went to conferences

To connect with other creators which by the way is how i met chelsea and lauren number three i recognized that i was building a business and youtube was not my business now it didn’t start out that way for sure when i first started making videos in december of 2016 i had no idea about how online businesses worked how people made money online or really even how

Youtube worked i was just making videos and while yes i expected that those videos would somehow translate into money i just saw it as a fun hobby that also had the potential to make some extra cash here and there but as i started learning more about this world i realized that i didn’t just want to build a youtube channel i wanted to build a business that would

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Inspire people to create the lives that they want and give them the tools to make it happen once i gain that clarity on the purpose of my business my ultimate goals for the business and how youtube fit in with that i was able to be more strategic in how i approached what i was doing which in turn made sure that the business was growing the right way here’s a concrete

Example sharing our day-to-day lives is an important part of one big happy life because we believe that it’s essential to show people how the principles that we espouse look in real life for a real family so having occasional vlogs on the channel makes perfect sense but the challenges like the spicy noodle challenge and the family yoga challenge we did in the

Beginning they didn’t really serve a purpose for the kind of company that we are building now now if we were focused solely on providing entertaining content well then those types of videos would make a lot more sense but keeping the end in mind we’re able to be more strategic and focus our energy on the things that will get us to our ultimate goal faster number

Four i created a profit plan based on multiple revenue streams profit planning is a business and accounting principle where businesses decide how they want to make money and set revenue goals based on their planned revenue streams those targets then allow them to work backwards to set smaller step-by-step goals to help them reach the bigger goals in their profit

Plan there are lots of different ways to make money online but i believe that they all boil down to ten overarching categories i won’t be covering all of them here but you can head over to one big heavy live.com forward slash profit plan for the full list when i first started making youtube videos i relied entirely on ad revenue from the views on the videos that’s

Just one revenue stream and it’s not the most lucrative either especially when you’re just starting out in 2017 after 12 months of building our channel and a hundred and fifty four videos in we made a grand total of five thousand dollars or four hundred and sixteen dollars a month i would have made more in less time in fast food walking dogs or even mowing lawns in

2018 we decided to start diversifying our income streams in january 2018 we made it three figures in revenue by the end of the year we had consecutive five figure months and are on track to double our revenue in 2019 our profit plan has evolved over time and we expect that in another year or two our revenue stream mix will be very different from what it is right now

We likely will always have revenue and some amount of brand work but we expect that our own products will make a bigger share of our revenue going forward number five i let myself have big audacious goals none of this would be possible if i didn’t allow myself to dream big if i hadn’t looked at the other youtubers who had millions of subscribers or even hundreds of

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Thousands of subscribers when i had a few hundred people who were making twenty and thirty thousand dollars a month when i was making five dollars a month if i had let that discourage me i would have failed before i had even gotten started instead it fired me up i figured if they can do it then why not me here’s the thing i had absolutely no reason to believe that

I would be able to build an online business i don’t know what thing about entrepreneurship i didn’t even have an instagram or twitter account and i was deep into building a legal career as a finance attorney with kids in tow i had no way of knowing whether or not this would work all i knew was that i wanted it to work and that i was committed to figuring out a way

To make it happen and so i dreams big and i set big goals and once i did that i found myself showing up differently in the world in ways that brought that goal closer i went to my first conference after less than a year in feeling like a total fraud not to mention that going to new places and trying to fit in with a new group of people that i’ve never met before

Makes me so nervous that i worry that i’m gonna throw up but i fought the nausea the fear the negative self-talk and i kept showing up for my business day after day and two years later here i am so now that we’ve talked about how to build a six-figure business let’s talk about a great place to get the essential tools your inner entrepreneur knew to take your side

Hustle to the next level skillshare skillshare is an online learning community with thousands of classes in design business technology and more premium membership gives you unlimited access to high-quality classes on essential topics so you can improve your skills unlock new opportunities and do the work you love looking to build your own creative product business

Check out jeff staples class the staples of branding from purpose to product where you’ll learn what it takes to build a brand from the ground up click the link in the description box to join the millions of students already learning on skillshare today and take advantage of a special offer just for tft viewers the first 500 visitors will get two months of unlimited

Access to over 25,000 classes for free act now so you don’t miss out and start learning today thank you so much for watching be sure to hit that subscribe button and that notification bell and tune in here every single friday for another new episode of the lifestyle fix see you next week

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5 Crucial Steps to Building a Successful Side Hustle | The Lifestyle Fix By The Financial Diet

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