Wealth WeeklyWhy Most Side Hustles Fail in Month One and How to Avoid It Hey zxcv, it’s Mark. Have you started a side hustle yet? If the answers no, then let's talk about it. Most people are held back by one thing: fear of failure. And look, I get it. You don’t want to put time and effort into something that flops. So how can you minimise that risk? Well, let me walk you through the three mistakes beginners make and how to avoid every single one of them. Mistake 1: RUSHING I know the feeling of wanting to make money as soon as possible. You want that confirmation that your side hustle is working, I get it! However, the pressure to move fast can lead to rushed research and poor decisions. That’s why you need to think of your choices in two different ways… Firstly… reversible decisions. These are things you can easily go back on if the data shows it was the wrong move. Secondly… non-reversible decisions. These are things that are pretty much set in stone when the decision is made. I like to think of them like a jet ski vs a cruise ship. It’s much easier to turn a jet ski around than a cruise ship. That’s why you should make reversible decisions quickly and take your time with non-reversible decisions. It’s about moving FAST & SLOW at the same time. Mistake 2: LACK OF PLANNING This might sound harsh, but in my opinion, people just don’t plan enough. I mean, you’ve probably got a mate that’s pretty ripped and goes to the gym multiple times a week. Do you really think he goes there and just wings it? Of course not. He probably dedicates different days for different parts of the body. You need to do the same with your side hustle. Set aside specific blocks of time each week for different tasks, like Monday for customer outreach, Wednesday for content creation, Friday for reviewing your numbers. When you treat your side hustle like a structured commitment rather than something you’ll “get to eventually,” you’ll start seeing real momentum. Mistake 3: OVER-COMPLICATION All over social media, people say "You need 7 different income streams to become a millionaire before the age of 14." Okay…maybe i’m exaggerating a little bit, but you get the idea. The message preached again and again is that you need your hand in a load of different pots at the same time. And not only that, but you need to be running a complex system for each and every side just you start with multiple different products and social media strategies. Let me be the first to tell you that this isn’t true. All you need to be successful is one great product, one marketing strategy and one focus. After you’ve mastered those things, of course you can expand and go into different markets and try different side hustles. However, at the start doing too much and overcomplicating the process just leads you not making any headway and falling short of your targets, leading to a failed side hustle and an empty bank balance. So remember, move fast and slow, plan out your schedule and keep it simple. Which one of these lessons resonated with you the most? Reply to this email and let me know… I read every response. Speak soon, Mark Tilbury P.S. I've just opened up some free trial spots on my flagship coaching program. If you're interested, check it out here: http://www.thewealthportal.com/join Mark Tilbury @ Tilbury Solutions LTD Amelia House, Crescent Road, Worthing, West Sussex, England, BN11 1RL You've received this email because you've subscribed to my newsletter. |