WEBVTT - Take the $1000 challenge

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<v Speaker 1>Welcome to Before Breakfast, a production of I Heart Radio.

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<v Speaker 1>Good Morning. This is Laura. Welcome to the Before Breakfast podcast.

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<v Speaker 1>Today's tip is to think through the one dollar challenge.

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<v Speaker 1>What could you do to earn an extra one thousand

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<v Speaker 1>dollars over the course of the next few days. I'm

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<v Speaker 1>not saying you actually have to come up with the cash,

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<v Speaker 1>but knowing how you would can put you in a

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<v Speaker 1>different mindset about your finances. I'm taking this challenge from

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<v Speaker 1>my friend Chris Gilboe's brand new book, The Money Tree.

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<v Speaker 1>Chris runs the daily podcast side Hustle School and has

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<v Speaker 1>helped countless people figure out how to make some extra

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<v Speaker 1>money on the side doing things that are a little

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<v Speaker 1>different from their main job. The Money Tree is a

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<v Speaker 1>fable about a young man named Jake who's feeling broke

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<v Speaker 1>and unhappy until he learns to take charge of his

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<v Speaker 1>own financial future. I enjoyed reading The Money Tree for

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<v Speaker 1>the story, but one of my favorite parts was the

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<v Speaker 1>challenges that a mysterious guru helps Jake set for himself.

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<v Speaker 1>One of those challenges is to come up with a

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<v Speaker 1>thousand dollars before the next time they meet. Now, if

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<v Speaker 1>you're accustomed to earning a set salary, as Jake in

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<v Speaker 1>this case is magically coming up with an extra one

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<v Speaker 1>thousand dollars might seem a little crazy, but, as the

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<v Speaker 1>guru tells Jake, if you can figure out how to

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<v Speaker 1>make a thousand dollars, you can probably figure out how

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<v Speaker 1>to make more. And figuring out that first one thousand

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<v Speaker 1>dollars can teach you different ways of thinking. So Jake

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<v Speaker 1>stumbles through a few ideas and figures out that he

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<v Speaker 1>might resell textbooks as one way to generate a little

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<v Speaker 1>bit of extra cash. But regardless of Jake's tentative approaches

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<v Speaker 1>and their role in this plot, I think this is

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<v Speaker 1>a good exercise for anyone trying to feel more in

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<v Speaker 1>control of their lives. I'm not sure it's wise to

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<v Speaker 1>ever be completely dependent on one employer for a paycheck,

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<v Speaker 1>though I know I may be in the minority feeling

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<v Speaker 1>that way. When you know you can make more money

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<v Speaker 1>when you need to, you can be more relaxed in

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<v Speaker 1>general and operate from a place of abundance. So how

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<v Speaker 1>could you make an extra one dollars in this era

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<v Speaker 1>of the gig economy? Driving delivery runs for Uber Eats

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<v Speaker 1>or door Dash or such places as one approach, and

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<v Speaker 1>certainly a more accessible way to turn time into cash

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<v Speaker 1>than people had in the past. But that's far from

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<v Speaker 1>the only option. As Chris puts it in his book,

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<v Speaker 1>everyone's an expert at something one way or another. You

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<v Speaker 1>have acquired a lot of valuable knowledge throughout your life.

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<v Speaker 1>Something you already know about can be turned into cash.

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<v Speaker 1>You just need to figure out how to do it

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<v Speaker 1>for you. Maybe it's writing or editing. Maybe it's design.

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<v Speaker 1>Maybe it's helping to curate people's closets or giving feedback

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<v Speaker 1>on presentations. Maybe it's helping people run online sales or

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<v Speaker 1>designing webinars. Maybe it's working with real estate agents to

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<v Speaker 1>stage yards for open houses. Maybe it's time management coaching,

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<v Speaker 1>or helping high school students with physics, or helping newbie

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<v Speaker 1>landlords create apartment listings. I have no idea what your

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<v Speaker 1>skills might be, but think about how you can turn

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<v Speaker 1>an idea into a service that people would pay for.

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<v Speaker 1>How would you find these people, how could you convince

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<v Speaker 1>them to give it a whirl. Now I'm not saying

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<v Speaker 1>that you're going to make a thousand dollars this weekend. Indeed,

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<v Speaker 1>right now, with much of the world on lockdown. It's

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<v Speaker 1>going to be a lot harder to do this than

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<v Speaker 1>at other points, but at least think this question through.

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<v Speaker 1>Think how you might try to plan it out, talk

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<v Speaker 1>about it with friends, and get feedback. When you have

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<v Speaker 1>a reasonable answer, you'll feel differently about life in general, because, again,

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<v Speaker 1>as Chris points out, if you can figure out how

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<v Speaker 1>to make a thousand dollars, you can figure out how

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<v Speaker 1>to make more, and then you'll know that whatever happens

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<v Speaker 1>at work, whatever happens in this uncertain economy, you'll probably

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<v Speaker 1>be okay. That's a liberating way to approach time in life.

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<v Speaker 1>So today, think about this one tho dollar challenge from

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<v Speaker 1>the book The Money Tree. How could you make one

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<v Speaker 1>thousand dollars on the side or if you have made

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<v Speaker 1>a thousand dollars from a side hustle, I'd love to

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<v Speaker 1>hear about it. You can share your ideas at Before

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<v Speaker 1>Breakfast podcast at iHeart media dot com. In the meantime,

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<v Speaker 1>this is Laura. Thanks for listening, and here's to making

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<v Speaker 1>the most of our time. Hey everybody, I'd love to

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<v Speaker 1>hear from you. You can send me your tips, your questions,

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<v Speaker 1>or anything else. Just connect with me on Twitter, Facebook,

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<v Speaker 1>and Instagram. At Before Breakfast pod that's b E the

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<v Speaker 1>number four, then Breakfast p O D. You can also

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<v Speaker 1>shoot me an email at for Breakfast podcast at iHeartMedia

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<v Speaker 1>dot com that before Breakfast is spelled out with all

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<v Speaker 1>the letters. Thanks so much, I look forward to staying

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<v Speaker 1>in touch. Before Breakfast is a production of I heart Radio.

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