Enlightenment Issue MADE Magazine - Page 50

MADEXXXX MADEINC E N T R E P R E N E U R E X C L U S I V E 5 ST EPS TO Turning Your Side Hustle Into Stable Income 01. Although entrepreneurship is not for everyone, those who do want to create a career that leads to legacy may struggle to take a leap of faith in unchartered waters. As creative entrepreneurs, turning your creativity into currency takes some big and small steps. But, those steps will ultimately reveal the best time to take the leap. 02. Make More Time for Your Hustle Oprah wasn’t built in a day. But, who said a day began at 9:00a.m. and ended at 5:00p.m.? Maximizing the hours in your day is key when building an empire. According to a Harvard Business Review study, the early bird does get the worm. Many successful academics, politicians, and celebrities have shared that they begin their day between 4:00a.m. and 6:00a.m. Although we are not on #TeamNoSleep, it is important to train yourself to take advantage of the time before and after work. Get in the habit of waking up earlier and continuing after you leave the office. And, utilize the weekend. The extra hours add up to a substantive amount of work. Build A Business Model That Enables Consistent Cash Flow Certain business models yield consistent cash flow. Considering which model is best for you can be the difference between taking the leap of faith sooner rather than later. You may have noticed that models based on recurring cash flow, such as subscriptions and retainers, lock- in customers to a weekly, monthly and yearly purchase. These models also cut out the time it would take for recurring sales and marketing to them. Figure out how you can strategically offer a product or service that requires ongoing management and yields consistent revenue. made-magazine.com | 50