Comments on: What If You Take A Leap Of Faith And Your Dreams Don’t Come True

By: Mr. Optimistic

Mr. Optimistic — Sat, 14 Jan 2023 18:58:20 +0000

I work for a company that probably frowns on side hustles. I obviously need to get the word out about any product I create and sell on the side. However, I worry if I do that my company will find out when I start creating content to market it. Do you have any advice on how to side hustle discreetly for someone in my situation?

By: Financial Samurai

Financial Samurai — Fri, 13 Jan 2023 18:43:11 +0000

In reply to Ms. Conviviality. Sounds like a plan!

By: Ms. Conviviality

Ms. Conviviality — Fri, 13 Jan 2023 17:46:14 +0000

In reply to Financial Samurai. Thanks, Sam. I’m going to take your comment as permission to quit my six-figure job. J/K! I’m too risk averse to do that. I think that’s why so much of my life has been to save and buy properties that would generate some income. Once we have two years of expenses saved up or non-W2 income is enough to cover expenses then that’s when I can devote as much time as I want into my business.

By: Financial Samurai

Financial Samurai — Fri, 13 Jan 2023 16:47:35 +0000

In reply to Ms. Conviviality.

And indomitable believe that you will succeed definitely helps. Perhaps what helps the most is having no other option but to succeed.

If I didn’t have any passive investment income or severance, I would have tried extremely hard to make Financial Samurai a success. But given I had these economic buffers, I took my time to do things my way without the need for monetization. I’m still like that today, as friends say, I should start a YouTube channel, hire, freelance writers, be more aggressive in marketing, and so forth. But what’s the point if I have mostly everything I want?

You really need to have the need and the hunger to want to make it as an entrepreneur. It’s worth trying once I say!

By: Ms. Conviviality

Ms. Conviviality — Fri, 13 Jan 2023 12:37:07 +0000

I’ve heard so many times the advice to not quit your job until the side hustle brings in enough income to cover expenses but it’s so difficult to move with the momentum of starting a business while having a full time job. The message that I got out of this article is that the FS blog would have been successful no matter what. I believe that will be the case for my own business. It’s clear to me that Sam has a gift for writing and research. I’ve been told enough times that I’m good at making beautiful things, which in the past I shrugged off as “no big deal, it was easy to do.” The more that I got those compliments, the more I began to see that maybe this was my gift.

It’s not a matter of knowing with certainty that my business plan will be successful but rather the certainty that I can pivot and tweak until I am successful. I know this because there are so many examples of successful people doing similar things to what I want to do. If there’s one thing I know about myself, it’s that I’ll put in the hard work and I’m not a quitter. If there are others who are successful, why not me?

It has been over 15 years of learning and planning and obtaining the right tools/skills to be successful in what I want to do but I don’t have enough time to execute as quickly as I want.

Why has it taken me so long? I’ve been busy doing other side hustles like renovations for Airbnbs, driving for Uber, creating products for an Etsy shop, doing wedding flowers and cakes, and helping my husband with his business. Not to mention the 40+ hours I put into my job as an audit manager.

By: Brett

Brett — Thu, 12 Jan 2023 23:15:50 +0000

My advice would be to find a business that generates residual income. My personal expertise is in the traditional energy space ( oil and gas). Put in the upfront work then enjoy long term cash flows. I also run an investment company which I self fund with rental properties, biotech holdings, breweries, restaurants and even a yoga studio which I finance 100% from my residual income. Also it’s gotta be ROI driven and it todays market hard assets that generate tax preferred income in at least the mid teens even low 20% would ne needed as the risk free rate is going up and will continue to rise at least until 2024. So what you love and love what you do.

By: Financial Samurai

Financial Samurai — Thu, 12 Jan 2023 20:22:48 +0000

In reply to Susan from LA. Thanks for sharing your story and great points about the pain of managing people. I don’t like managing people, which is one of the reasons why I left the finance industry, and why I haven’t hired freelance writers and more to help grow the site. I just want to keep things easy and simple you know? the last thing I wanna do is create a work environment that I had left. You make a great point on appreciating work more after becoming your own boss. Entrepreneurship is harder than having a day job.