Speaker 1: Welcome to Before Breakfast, a production of I Heart Radio.
Speaker 1: Good Morning. This is Laura. Welcome to the Before Breakfast podcast.
Speaker 1: Today's tip is to think through the one dollar challenge.
Speaker 1: What could you do to earn an extra one thousand
Speaker 1: dollars over the course of the next few days. I'm
Speaker 1: not saying you actually have to come up with the cash,
Speaker 1: but knowing how you would can put you in a
Speaker 1: different mindset about your finances. I'm taking this challenge from
Speaker 1: my friend Chris Gilboe's brand new book, The Money Tree.
Speaker 1: Chris runs the daily podcast side Hustle School and has
Speaker 1: helped countless people figure out how to make some extra
Speaker 1: money on the side doing things that are a little
Speaker 1: different from their main job. The Money Tree is a
Speaker 1: fable about a young man named Jake who's feeling broke
Speaker 1: and unhappy until he learns to take charge of his
Speaker 1: own financial future. I enjoyed reading The Money Tree for
Speaker 1: the story, but one of my favorite parts was the
Speaker 1: challenges that a mysterious guru helps Jake set for himself.
Speaker 1: One of those challenges is to come up with a
Speaker 1: thousand dollars before the next time they meet. Now, if
Speaker 1: you're accustomed to earning a set salary, as Jake in
Speaker 1: this case is magically coming up with an extra one
Speaker 1: thousand dollars might seem a little crazy, but, as the
Speaker 1: guru tells Jake, if you can figure out how to
Speaker 1: make a thousand dollars, you can probably figure out how
Speaker 1: to make more. And figuring out that first one thousand
Speaker 1: dollars can teach you different ways of thinking. So Jake
Speaker 1: stumbles through a few ideas and figures out that he
Speaker 1: might resell textbooks as one way to generate a little
Speaker 1: bit of extra cash. But regardless of Jake's tentative approaches
Speaker 1: and their role in this plot, I think this is
Speaker 1: a good exercise for anyone trying to feel more in
Speaker 1: control of their lives. I'm not sure it's wise to
Speaker 1: ever be completely dependent on one employer for a paycheck,
Speaker 1: though I know I may be in the minority feeling
Speaker 1: that way. When you know you can make more money
Speaker 1: when you need to, you can be more relaxed in
Speaker 1: general and operate from a place of abundance. So how
Speaker 1: could you make an extra one dollars in this era
Speaker 1: of the gig economy? Driving delivery runs for Uber Eats
Speaker 1: or door Dash or such places as one approach, and
Speaker 1: certainly a more accessible way to turn time into cash
Speaker 1: than people had in the past. But that's far from
Speaker 1: the only option. As Chris puts it in his book,
Speaker 1: everyone's an expert at something one way or another. You
Speaker 1: have acquired a lot of valuable knowledge throughout your life.
Speaker 1: Something you already know about can be turned into cash.
Speaker 1: You just need to figure out how to do it
Speaker 1: for you. Maybe it's writing or editing. Maybe it's design.
Speaker 1: Maybe it's helping to curate people's closets or giving feedback
Speaker 1: on presentations. Maybe it's helping people run online sales or
Speaker 1: designing webinars. Maybe it's working with real estate agents to
Speaker 1: stage yards for open houses. Maybe it's time management coaching,
Speaker 1: or helping high school students with physics, or helping newbie
Speaker 1: landlords create apartment listings. I have no idea what your
Speaker 1: skills might be, but think about how you can turn
Speaker 1: an idea into a service that people would pay for.
Speaker 1: How would you find these people, how could you convince
Speaker 1: them to give it a whirl. Now I'm not saying
Speaker 1: that you're going to make a thousand dollars this weekend. Indeed,
Speaker 1: right now, with much of the world on lockdown. It's
Speaker 1: going to be a lot harder to do this than
Speaker 1: at other points, but at least think this question through.
Speaker 1: Think how you might try to plan it out, talk
Speaker 1: about it with friends, and get feedback. When you have
Speaker 1: a reasonable answer, you'll feel differently about life in general, because, again,
Speaker 1: as Chris points out, if you can figure out how
Speaker 1: to make a thousand dollars, you can figure out how
Speaker 1: to make more, and then you'll know that whatever happens
Speaker 1: at work, whatever happens in this uncertain economy, you'll probably
Speaker 1: be okay. That's a liberating way to approach time in life.
Speaker 1: So today, think about this one tho dollar challenge from
Speaker 1: the book The Money Tree. How could you make one
Speaker 1: thousand dollars on the side or if you have made
Speaker 1: a thousand dollars from a side hustle, I'd love to
Speaker 1: hear about it. You can share your ideas at Before
Speaker 1: Breakfast podcast at iHeart media dot com. In the meantime,
Speaker 1: this is Laura. Thanks for listening, and here's to making
Speaker 1: the most of our time. Hey everybody, I'd love to
Speaker 1: hear from you. You can send me your tips, your questions,
Speaker 1: or anything else. Just connect with me on Twitter, Facebook,
Speaker 1: and Instagram. At Before Breakfast pod that's b E the
Speaker 1: number four, then Breakfast p O D. You can also
Speaker 1: shoot me an email at for Breakfast podcast at iHeartMedia
Speaker 1: dot com that before Breakfast is spelled out with all
Speaker 1: the letters. Thanks so much, I look forward to staying
Speaker 1: in touch. Before Breakfast is a production of I heart Radio.
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