1. Saving 101
3. Hustle 101
10. Managing Risk
In the context of accelerating your savings one of the suggestions is to increase your income by starting a side hustle/business.
Accelerate your Savings – Start a Side Hustle
- Piggyback on Trends
- Solve Problems – Customers don’t particularly care about your passions and motivations, as long as you can make their pain/frustration go away.
- Just Start – Some of the best opportunities that you’re going to find in business are going to be found once you’ve already started
- Go Where the Cash is Already Flowing
- Fast Track with Partnerships – Who is already doing business with your target customers?
- Do What Matters, Consistently – Eliminate doing the things that make you less money, focus on the ones that generate income
Popular Side-Hustles in SA
- Network Marketing
- Hiring services for events
- Cookies and sandwiches on street corners and offices
- Importing goods and sell locally
- Selling goods and services online
- Selling on Week-end Flea Market
- Food Deliveries
- E-hailing Services
6 Practical Tips for Hustlers
- Work your way up – many of the top brands didn’t start with big funding. They started with a big idea, that was executed as it evolved over time. It’s easy to look at the big guys and think you need everything they have to be successful, but they didn’t fall at the top of the mountain, they climbed there… and you can too.
- Think big, act small – Many people are obsessed with big ideas and don’t understand the value in doing the small things well. Fall in love with small opportunities and treat them as though they were big opportunities. Your customers will love you for it.
- Build an inner circle of wisdom – It’s important to actively seek out trusted mentors. There are going to be many times where you need wisdom on speed dial. You need people in your corner who know what it takes to build a successful company. Also, YouTube has interviews with tons of successful entrepreneurs you can learn from.
- Read a lot more – You can learn so much and avoid the mistakes of those who have come before you, if you make a commitment to reading. You are never wasting time sharpening your mind. Also listen to business podcast, e.g., Ted Talks.
- Have a growth mindset – Forget about proving yourself or your idea. Focus on learning and growing everyday. Believe that everything that happens to you is in your best interest. Rather than asking “Why is this happening to me?”, ask “How can I learn from this experience, and how can I grow?”
- Learn to master free tools – Its time to hustle hard. Utilise social networks like Twitter, Facebook, LinkedIn and Instagram to build buzz around your hustle.