Why you should Start a Side Hustle Business


Hey friends

I started my first side hustle business in 2008 during the Credit Crunch and Great Recession. It was an eBay store flipping handbags and shoes that I bought in charity shops.

Three months earlier I qualified as a property lawyer. Shortly after qualifying I got made redundant.

The eBay business became my main source of income for 10 months until I found a new job.

While working full time as a property lawyer in 2012, I started a commercial cleaning company. I decided the law wasn’t for me and wanted to run my own business.

A year later I quit my legal career. The cleaning company had grown to a size where I needed to focus on it full time.

While running the cleaning company, I started two property businesses. A buy to let and a rental arbitrage/rent to rent business. This led me to selling my cleaning business in March 2020.

The eBay and buy to let businesses are still going strong. The rental arbitrage/rent to rent business didn’t make it through COVID.

As I write, I’m launching a business coaching + consultancy business (more on that soon).

I’m also working on two exciting ideas with my business partner (shout out to Leandro!) - one in the property space and the other in children’s animation.

Why am I sharing all this with you?

My journey as an entrepreneur started with a side hustle during a recession.

At first it was to make some extra cash. But then it evolved into an opportunity to quit my 9 to 5 and live life on my terms.

Depending on where you are in the world, your country is already in or will be in recession by the end of the year. Energy prices are up and inflation rates are at their highest for decades.

Starting a side hustle is the perfect opportunity for some extra financial stability. You can test your chops as an entrepreneur while having the security of a full time income.

It might be the buffer that helps get you through the recession, as mine did in 2008.

It might provide you with an extra source of income that helps you pay down debt, save money or invest.

Or you could end up doing what I did and leave your 9 to altogether to grow your side hustle business.

Understanding the motivation behind wanting to start a side hustle is important. As is understanding what skills you have to start one.

Has this got you thinking?

I’d love for you to reply to this email and tell me what side hustle you're thinking about starting.

Enjoy your weekly dose of marginal gains!

🚀 Performance Hacks

How to start a Side Hustle Business (1min)

If you're looking to start your own side hustle business this year this video will give you a three-step process to help you make the right decision.

7 Lessons I Learned from Steven Bartlett about believing that you can achieve your goals (2min)

All of your goals, ambitions & everything you might want to achieve live in believing you can and making one tiny step in that direction.

🧠 Brain Food

📚 Book: Profit First by Mike Michalowicz. The system in this book helped me clear my personal debt and pay down my business debt in less than 24 months. It’s the cash management system that I continue to use to this day. Even though the book is aimed at small business finance, the system is easily transferrable to personal finance as well. I honestly can’t recommend this book enough.

📖 Blinkist: The Miracle Morning by Hal Elrod. After listening to this Blink I ended up buying the book, it was that influential. It sets out the six crucial steps that Elrod took every morning which helped him recover from a near fatal car crash. These six steps will help you jump start your day with a platform for living a fulfilled life.

📝 Blog Post: This column will change your life: Helsinki Bus Station Theory by Oliver Burkeman. This short article is about two things - persistence and originality - in the context of the work that you are doing. "Stay on the fucking bus”. Side note, Burekman’s book Four Thousand Weeks has been recommended to me a few times and is on my reading list.

🎙️ Podcast: Morgan Housel on Building Wealth and Happiness. Housel’s book The Psychology of Money is also on my reading list. This is the third episode I’ve listened with him as a guest and he’s a fascinating financial commentator. In this episode he talks about the real definition of wealth, the sacrifices to gain success and building an audience.

❓❓Two Questions

Question for you: If you had to stop doing 10% of what you’re doing, what would you abandon?

Question for me? Send me an email and I’ll be happy to help. If you want to have a chat to go deeper, schedule a Discovery Call.

✍🏾 Quote of the Week

“The small stuff rarely matters. Focusing on the big stuff, the 20%, saves valuable time, ramps up productivity, and moves the needle further when it comes to goal achievement.”

From 80/20 Your Life! How to Get More Done With Less Effort and Change Your Life in the Process! by Damon Zahariades. Resurfaced using Readwise.

📱 Tools + Tech

💻 App: one sec. On average, an online user spends 16 hours per week on social media. Gain back control of your time with this app which focuses on more than short term productivity. It takes a science based approach to breaking habits. The app was recommended to me by a neuroscientist so if you need to break your social addiction, try it.

🐦 Tweet Thread: A “razor” is a rule of thumb that simplifies decision making. Here are the most powerful razors I’ve found.

😳 Whoa: This optical illusion is super trippy. Just stare at the center of this page for 30 seconds and then…

💡 Recommendations

✏️ I use Canva to design everything from social media posts to free downloads.

📲 I use Hypefury to effortlessly ****create content on Twitter, Instagram, Facebook and LinkedIn.

📥 I use Shift to manage my emails, apps and extensions on my laptop.