58 min
The #1 Reason Side Hustles Fail to Become Businesses BiggerPockets Money Podcast
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- Investing
You’ve heard the old statistic “nine out of ten businesses fail”, but why is that? If there are so many people willing to risk their livelihood to pursue a great idea, why do so many end up broke and back at a job? Gabe Nelson, certified financial planner and business advisor, has an idea.
Gabe advises many business owners and solopreneurs through building their businesses with maximum cash flow and minimum time commitment.
A couple of decades ago, Gabe was in the position many entrepreneurs are in today. He was working seven days a week, almost living at the office, doing anything he could to build his business. Once his daughter was born, he knew he had to take a step back from the seven-day workweek. Then, his second and third daughter were born, forcing him to automate, delegate, and eliminate every unnecessary task on his plate.
Now, with a thriving firm, Gabe knows what does (and doesn’t) work for solopreneurs, and the systems they need to implement now to secure a happy life tomorrow.
In This Episode We Cover
The #1 thing you should do before you start a business or side hustle
Keeping your relationships healthy while working long hours at your business
Outsourcing when you’re ready and growing a self-operating team
Laying the groundwork of communication between you and your partner
Managing cash flow in your business and keeping a healthy safety reserve
Trusting the “whispers” that your gut tells you about your business
And So Much More!
Learn more about your ad choices. Visit megaphone.fm/adchoices
You’ve heard the old statistic “nine out of ten businesses fail”, but why is that? If there are so many people willing to risk their livelihood to pursue a great idea, why do so many end up broke and back at a job? Gabe Nelson, certified financial planner and business advisor, has an idea.
Gabe advises many business owners and solopreneurs through building their businesses with maximum cash flow and minimum time commitment.
A couple of decades ago, Gabe was in the position many entrepreneurs are in today. He was working seven days a week, almost living at the office, doing anything he could to build his business. Once his daughter was born, he knew he had to take a step back from the seven-day workweek. Then, his second and third daughter were born, forcing him to automate, delegate, and eliminate every unnecessary task on his plate.
Now, with a thriving firm, Gabe knows what does (and doesn’t) work for solopreneurs, and the systems they need to implement now to secure a happy life tomorrow.
In This Episode We Cover
The #1 thing you should do before you start a business or side hustle
Keeping your relationships healthy while working long hours at your business
Outsourcing when you’re ready and growing a self-operating team
Laying the groundwork of communication between you and your partner
Managing cash flow in your business and keeping a healthy safety reserve
Trusting the “whispers” that your gut tells you about your business
And So Much More!
Learn more about your ad choices. Visit megaphone.fm/adchoices
58 min