How to create successful six-figure side hustles. Lucrative second job income.

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Following the period of the Great Financial Crisis starting between 2007 to 2008, numerous individuals, myself included, engaged in various endeavors to supplement their income. In 2010, I experienced a six-month period of unemployment. During that time, I searched on Google for tips on earning through writing and successfully landed my initial freelance project. Even with a stable job, I continued to do freelance writing as well. It essentially served as my side gig before side hustles became a popular concept.

Unbeknownst to me back then, a single Google search eventually paved the way for me to establish a lucrative business as a writer, consultant, brand ambassador, and influencer, yielding a six-figure income.

I'm not the sole one, either. During the recession, numerous American workers were compelled to explore side hustles to bridge financial gaps, leading some of these ventures to evolve into successful full-time businesses.

Furthermore, numerous individuals have turned to side hustles as an extra source of income amidst the challenges brought by the COVID-19 pandemic. Ensuring a variety of income sources is now more crucial than ever before.

Transitioning from a side hustle to earning six figures isn't as straightforward as one might think. It definitely takes time, it doesn't happen overnight. There are numerous side hustle options available for you to explore, and with determination, you can definitely make them work in your favor. Allow me to demonstrate the process.

Acquire the skills of marketing and sales.
smoother sales transactions.

Hone your negotiation skills or consider enlisting the expertise of someone skilled in this area.
Improving your skills in asking for money is a proven method to increase your income effortlessly. For instance, I recently had an enlightening experience that made me realize the importance of pricing certain types of contracts at five to six times higher than what I had been charging.

I decided to push myself by seeking higher compensation whenever the chance arose. Regarding those particular contracts, I currently have an agent in charge of handling them, ensuring that we receive exactly what we request. Occasionally, the most effective approach to improve negotiating skills is by enlisting the services of a professional negotiator.

Value your time.
Many side hustlers face difficulty in determining the worth of their time. This is particularly noticeable in how much pro bono work they engage in, their tendency to tolerate demanding clients without setting boundaries, and their habit of undervaluing their services during negotiations.

To transition from a side hustle to a six-figure business, it's crucial to consider the value of your time.

Imagine this scenario: You receive an email from a client offering $400 for a project and requesting your prompt attention to a task. Simultaneously, you receive a message from the individual you are in negotiations with for a $10,000 contract.

What is it that you do?

You established a boundary with the client, where they paid you $400. You inform them that you will attend to it as soon as you are free. You should consider closing that $10,000 deal as it will be more valuable for your time. Missing out on the chance to earn $10,000 just because of fear of losing $400 is a disservice to yourself. Many individuals find themselves preoccupied with concerns over the $400, which often leads to difficulties in managing their finances.

An additional illustration is when you are asked to complete work without compensation. Numerous individuals, who are still embracing the side hustle mentality, may choose to undertake unpaid tasks in exchange for increased visibility and opportunities. Individuals who embrace a six-figure mindset are aware of the value of their time and confidently seek compensation for it.

Establish various sources of income.
To transform your side hustle into a six-figure business, the key is to establish various sources of income. As an illustration, I initially began my journey as a freelance writer. However, gradually I developed a six-week group coaching program targeted towards business owners, and currently, I collaborate with brands in the capacity of a spokesperson. I provide consultation services for small businesses seeking to establish and enhance their online presence.