Starting what many call a side hustle can be time-consuming and require you to work even more hours than your day job. But setting up a second income stream doesn’t have to be this hard. With the right systems in place, your second income stream does not have to see you working every day non-stop.
In fact, a New Yorker article recently discussed this very issue – that the gig economy (our side hustles) celebrates working yourself to death. It looks at how much work the gig economy, and similarly, our side hustles, need for success.
When you start a second income stream, especially when you already have a full-time job, you are going to need to put in the hours. For some persons, it’s continuous work nonstop. But, for others, they set up their second income streams and set it on autopilot, so they don’t need to be involved 24/7.
I’ve touched on this topic before in previous posts discussing options for passive income as a second income stream. But, what you need isn’t solely side gigs. You need to also set up systems for lucrative income streams, and automate, to prevent overworking yourself. Working 24/7/365 is a sure way to premature death from stress. Yes, stress kills and working long hours every day o your second income stream is putting undue stress on your body.
Creating a second income stream without overworking yourself
You can set up an effective system for generating a second income stream. Let’s take a look at three of those.
Don’t put all your eggs in one basket
Having multiple income streams reduces the need to work every day. Constantly look at other ideas that you could turn into an income stream. They may seem unrealistic now, but a lot of businesses today were just that – dreams that seemed unrealistic until someone worked on them and put them out there.
Love creating artwork as a hobby? Enjoy doodling on every surface you can find? Cultivate a market and set up an e-commerce store to sell your craft. Set it on autopilot so that you don’t have to do everything and be at the beck and call of your clients all hours of the day and night.
Leverage the power of the internet
I have discussed this before, and it’s worth repeating. You need a solid internet presence to help improve your chances of a successful side income that doesn’t require hourly efforts to keep going. Setting up your own business website does not have to be difficult. And doing so could even give your current business a second income stream that you need to tap into.
Put specific systems in place
One of the ways I have managed to turn a ‘side hustle’ into a lucrative business and second income stream is to put specific systems in place beforehand and during operations. This helps to automate certain functions and leaves me time to spend with my family and for relaxation.
I’m not saying that starting a second and third income stream isn’t hard and requires work. In fact, you will have to put in extra effort, especially at the start-up phase. But, eventually, you automate, you embrace systems, and you make that business work for you instead of working 24/7/365 for it.
Want to start a business with the right systems in place to make sure it works for you and not the other way around? Drop me a message and let’s discuss getting you up the right way from the start.