Side Hustles: Balancing Passion and Profit

On this episode of CFO at Home, the discussion is Side Hustles with Joan Posivy, host of the Side Hustle Hero podcast. Joan and Vince talk about the evolving landscape of side hustles, and she shares her insights on choosing the right side hustle, the importance of matching your side hustle to your personal preferences, the balance between a full-time job and a side hustle, and more. You can learn more about Joan and her work by visiting SideHustleHero.com

Key Takeaways:

• Choosing a Side Hustle: Select a side hustle that matches your personal preferences and work style, whether you prefer working with people or behind a desk.

• Goal Setting: Set clear, realistic goals and give yourself a specific timeframe to evaluate the success of your side hustle.

• Persistence: Many side hustles fail because people give up too soon. Commit to your side hustle for a set period before reevaluating its viability.

• Time Management: Efficiently manage your time by scheduling dedicated hours for your side hustle and minimizing distractions during those periods.

• Financial Planning: Before transitioning your side hustle to a full-time job, ensure you have sufficient savings to support yourself during the initial growth phase.

• Testing and Feedback: Use low-cost methods like farmers markets to test your product and gather feedback before making significant investments.

Key Links:

• Side Hustle Hero

• Side Hustle Hero | Instagram

• Joan Posivy | Facebook