Speaker 1: Episode one, how to make more money with a side business.
Speaker 1: Welcome to the Frugal Friends podcast, where you'll learn to
Speaker 1: save money, embrace simplicity rights, and live with your life.
Speaker 1: Here your host Jen and Jill O. Welcome to the
Speaker 1: Frugal Friends podcast. My name is Jen, my name is Jill,
Speaker 1: and today we are talking about making more money. If
Speaker 1: you have ever done a Google search or anywhere really
Speaker 1: on how to make more money, you have surely seen
Speaker 1: the same ten twenty things on every single list because
Speaker 1: they're really they're sexy, they have affiliate programs, so they
Speaker 1: make the website money. They're easy to do, but they're
Speaker 1: not super lucrative. And so today we're talking about other
Speaker 1: options to make more money, and that is with a
Speaker 1: side business, so not you know, entrepreneur, quit your job
Speaker 1: sort of side business, but um, we'll kind of get
Speaker 1: into how you can make more money with with other options,
Speaker 1: that another approach that you're driving or getting groceries for
Speaker 1: someone exactly. Yeah, more alternatives and hopefully in this episode
Speaker 1: helped to build your confidence in your own ability to
Speaker 1: be able to do this. It is a bigger undertaking,
Speaker 1: certainly than just picking up a side job, but it
Speaker 1: certainly can be more lucrative for that reason too, and
Speaker 1: doesn't necessarily need to require us to quit our full
Speaker 1: time jobs, but to add that little bit of extra income.
Speaker 1: So I'm excited about this alternative look at side hustles
Speaker 1: and more of a how to start a side business
Speaker 1: for sure. Yeah. I was on Instagram this week and
Speaker 1: I asked everyone like, what is the thing you feel
Speaker 1: like you need to pay off your debt? And instantly
Speaker 1: I had like an influx of responses that are like money, money, money, money,
Speaker 1: and I was like, I get it, I get it.
Speaker 1: So here we are doing this episode. Before we get
Speaker 1: into the content, though, let's give a shout out to
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Speaker 1: use the code taco bell all one word taco bell
Speaker 1: to get ten dollars off the regular price. I'm waiting
Speaker 1: for somebody to come at us and be like, you
Speaker 1: can't actually use that as your promo code. Why wouldn't wait?
Speaker 1: I know, I just always I always think I'll get
Speaker 1: in trouble for doing sport bed Big and Today's episodes
Speaker 1: also brought to you by the Society against People Taking
Speaker 1: Online Service or saptas for short, kind of like sabotage
Speaker 1: searching for a way to make money on the internet.
Speaker 1: Every article you read will, without a doubt recommend online surveys.
Speaker 1: You'll spend hours trying to take surveys you won't qualify for,
Speaker 1: and more hours taking surveys you'll get paid pennies for,
Speaker 1: and you'll learn nothing about yourself. At SAPTA, we urge
Speaker 1: you if you see online surveys as a suggestion for
Speaker 1: how to make more money. Close the tab immediately you've
Speaker 1: started a coalition or this coalition coalition right, and it's sponsoring. Yes,
Speaker 1: and for sure, thank you for your support. Society against
Speaker 1: the people taking online good cause. Yeah, it was between
Speaker 1: that and actual online surveys sponsoring. But the ad got
Speaker 1: so negative that I was like, online surveys probably wouldn't
Speaker 1: sponsor this. We are against this obviously, so here we are.
Speaker 1: Episode um Episode four is a frugal side hustles episode.
Speaker 1: You can pay back in the archived Yes, I also
Speaker 1: check out episode eighty five. That one's about side hustles
Speaker 1: for people short on time. And so side hustles and
Speaker 1: side gigs the gig economy, they do play an important
Speaker 1: part in the make extra money ecosystem. So there's definitely
Speaker 1: they have their own place. But there comes a time
Speaker 1: where you might be ready to graduate from side gigs
Speaker 1: and go onto making more money with a side business.
Speaker 1: And so we do want to devote a future episode
Speaker 1: to making more money, like job wise, so like negotiating
Speaker 1: for raises, job hopping, promotion, stuff like that. But today
Speaker 1: is about what mindset shifts do we need to make
Speaker 1: and what strategies can we use UM to make more
Speaker 1: money outside the workplace UM, but not selling your soul
Speaker 1: to an app. So that's where that's the headspace I
Speaker 1: want you to be in UM. And speaking of headspace,
Speaker 1: our first article UM is from hack the entrepreneur dot
Speaker 1: com and it's called Entrepreneurial Mindset how to Think like
Speaker 1: an Entrepreneur and it's really foundational. I have found in
Speaker 1: my entrepreneurial journey actually having the accurate mindset. What do
Speaker 1: you think, Joe, Yeah, I think that this article lay
Speaker 1: is a really good foundation for what we need to
Speaker 1: be aimed at if we want to take the next
Speaker 1: step in our side hustle side business journey. And of
Speaker 1: course mindset is where it begins thoughts of whether or
Speaker 1: not I can do this absolutely sets the trajectory for
Speaker 1: whether or not we are going to take the next
Speaker 1: step in that direction. So mindset is a big part
Speaker 1: of this and we hope to encourage you in this
Speaker 1: process and also give you a couple of tools from
Speaker 1: this article on what you can do even related to
Speaker 1: your thought processes to help you feel confident too and
Speaker 1: prepared to do this. Yeah, and I want to reiterate
Speaker 1: like over and over throughout this episode that you do
Speaker 1: not have to be like a living in your mom's
Speaker 1: basement or in Silicon Valley or something. You don't have
Speaker 1: to be the next startup CEO. You don't have to
Speaker 1: be great at selling or be the stereotypical entrepreneur that
Speaker 1: you think of. You can have like a low impact
Speaker 1: side business that you do on the weekends or you
Speaker 1: do some in the mornings, and you can commit to
Speaker 1: it as much or as little time as your life
Speaker 1: requires um and still have a side business. So that
Speaker 1: is kind of something we want to reiterate throughout the episode.
Speaker 1: And I do want to say at the start of
Speaker 1: this episode, we're not going to be giving all a
Speaker 1: whole list of ideas of what you can do for
Speaker 1: a business. We are hoping to water and give a
Speaker 1: little bit of sunlight to possibly ideas that are already
Speaker 1: stirring inside of you wherever your skill set already is,
Speaker 1: if you've had that and I like what this article describes,
Speaker 1: so I will absolutely direct people to this article because
Speaker 1: we're not going to go through it in its entirety.
Speaker 1: Talks about that I that feeling in the pit of
Speaker 1: your stomach that a lot of us have sometimes of
Speaker 1: there's more I could be doing, or I'm not utilizing
Speaker 1: this aspect of my skill set, or I really have
Speaker 1: a desire to teach people how to such and such
Speaker 1: or solve this problem for so and so, And that's
Speaker 1: what we're talking about. So when you've got the rumblings
Speaker 1: of that idea, this is the episode to help you
Speaker 1: water that idea. A couple of examples and as I
Speaker 1: mentioned this of maybe some things that that we've done.
Speaker 1: First of all, this podcast is one of those. This
Speaker 1: is this is a side business for us, right. Uh,
Speaker 1: so you know you can try to start a podcast.
Speaker 1: As we've talked about in previous episodes, it is not
Speaker 1: the most lucrative for at least the first two years,
Speaker 1: low impact, that's for sure. My husband and I have
Speaker 1: also DJ that's a weekend thing, so it didn't pull
Speaker 1: us from our regular daytime jobs. H And that was
Speaker 1: our own business that that we had. We also did
Speaker 1: some bartending on the side. That was our own business
Speaker 1: that we would show up to weddings and bartend b
Speaker 1: y oh events. Uh what about for you, Jen, any
Speaker 1: examples of side businesses. Yeah, we rented out our guest
Speaker 1: room on Airbnb. Uh, so we were able to control
Speaker 1: the pricing and who was there. Um. I My very
Speaker 1: first one was a T shirt company. I designed t
Speaker 1: shirts um, and then publishing on Amazon. And really my
Speaker 1: entire business is just a collection of smaller businesses. So
Speaker 1: it's and they make up one full time income. So
Speaker 1: I feel like this is all I'm doing. It's just
Speaker 1: all under your name and your social starting number. It's great. Yeah,
Speaker 1: well now my employee I D number. Yeah, and we'll
Speaker 1: talk about more of this in our lightning ground. But
Speaker 1: I wanted to say that from the start that we're
Speaker 1: gonna we are watering and providing sunlight to you. Yes, okay,
Speaker 1: let's go. Let's go to the first one. There's a
Speaker 1: five on here. Yeah, so five five mindset things that
Speaker 1: are going to be able to help us prepare to
Speaker 1: do this whole startup business thing. And the first one
Speaker 1: is decisiveness. Holy smokes, couldn't agree more. I but I
Speaker 1: don't know that I would have fully put this towards
Speaker 1: but I'm discovering more and more how important it is
Speaker 1: to be decisive. I think even just financially and as
Speaker 1: we are on this frugal journey. It is a really
Speaker 1: important skill and muscle to develop in ourselves, the ability
Speaker 1: to say yes or no to something, to know what
Speaker 1: we want in the future, a decisive offness. And so
Speaker 1: they say that your ability to make a decision could
Speaker 1: make or break your future successes, even in a small business,
Speaker 1: because you will be making decisions constantly. So this is
Speaker 1: even if you are good at making decisions, it's still
Speaker 1: something that we can regularly be intentional about improving our
Speaker 1: decisiveness and quick decision making skills. They give an example
Speaker 1: here of practicing this in daily life, even just when
Speaker 1: ordering lunch, like do you want a sandwich or a salad?
Speaker 1: Just decide, just pick something, look over the menu wants
Speaker 1: and order that thing and confidently. And as you continue
Speaker 1: to do that and practice that, you will become better
Speaker 1: and better at making decisions on things that might be
Speaker 1: a little bit more important than whether or not you
Speaker 1: eat a sandwich or a salad. And that leads into
Speaker 1: the second one, which is confident. So I feel like
Speaker 1: I have been um practicing at this since day one.
Speaker 1: Um so, And the first question that is on here
Speaker 1: is like, how do you act company when confidently when
Speaker 1: you don't know what you're doing. That's like the entrepreneur
Speaker 1: like imposter syndrome. Um, just everybody goes through that. I
Speaker 1: don't know one entrepreneur that hasn't felt like they don't
Speaker 1: know what they're doing. And if you do know what
Speaker 1: you're doing, you just don't know enough to know that
Speaker 1: you don't know what you're doing. Yes, um and there,
Speaker 1: and their solution is pretend you know what you're doing.
Speaker 1: You literally have to fake it till you make it. Like,
Speaker 1: obviously you shouldn't be in a field you know nothing about.
Speaker 1: But if you are in a field that you are
Speaker 1: fairly knowledgeable about, you kind of you kind of know
Speaker 1: what you're doing. In essence, then even when you feel
Speaker 1: like you don't know what you're doing, you just have
Speaker 1: to force it. You have to pretend because the truth
Speaker 1: is is you probably know a little bit more than
Speaker 1: what you're giving yourself credit for. Imposter syndrome is so real.
Speaker 1: But I love what Amy Porterfield from online Marketing made easy.
Speaker 1: She says, you just have to have a ten percent edge,
Speaker 1: So you just have to have ten percent more knowledge
Speaker 1: than your client or ten percent more um like opportunities
Speaker 1: or assets or whatever than your customer. Ten percent ahead
Speaker 1: of whoever you're serving um. And sometimes I found that
Speaker 1: to be even better than somebody who's leaps and bounds
Speaker 1: like expertise. Because the richer you are, the bigger you are,
Speaker 1: the more successful you are, the more out of touch
Speaker 1: you are with the table that are far yeah, that
Speaker 1: are far behind you. And so I think it's better,
Speaker 1: and I think more people should be starting businesses with
Speaker 1: products or services that are closer to and more in
Speaker 1: touch with their ideal customer. We were not podcasters are
Speaker 1: but we started a podcast. I had no I'm a writer,
Speaker 1: I no desire to talk, and you all listened, and
Speaker 1: so we kept going and here we are, thank you.
Speaker 1: And and when when you need more confidence, just put
Speaker 1: on some lipstick. That's when I did to comb your hair.
Speaker 1: It's true, you can. If your hair is not curly,
Speaker 1: can you comb your hair? That's a side tangent. Third
Speaker 1: on this list is accountability, and what this is referring
Speaker 1: to is holding yourself accountable and taking on responsibility, which
Speaker 1: really we all should be doing just as adults. Welcome
Speaker 1: to adulthood, but recognizing that everything that we do or
Speaker 1: that happens at work when we are starting our own business,
Speaker 1: whether small or large, you are responsible for everything that
Speaker 1: happens in your business. You are responsible whether it moves
Speaker 1: forward or falls flat. You are responsible. And that's not
Speaker 1: to to be a fear, that's not to induce fear
Speaker 1: in this process, but to help us to be to
Speaker 1: recognize where the onus is to be able to pick
Speaker 1: up that responsibility, because it's going to be helpful as
Speaker 1: far as mindset goes in being able to move forward
Speaker 1: with the business that you're starting. Yeah, I get a
Speaker 1: lot of emails, um and direct messages from people who
Speaker 1: really have a lot of things that are in circumstances
Speaker 1: that are legitimately unfortunate. Um. But I've also seen a
Speaker 1: lot of stories, and I'm sure we all have, because
Speaker 1: it's the stories of people who are in very unfortunate
Speaker 1: circumstance is and come out of them and are successful.
Speaker 1: Those are the ones you hear all about and so
Speaker 1: and I know those people personally, and so I can't
Speaker 1: believe that people can't come out of their unfortunate circumstances. Um.
Speaker 1: I've seen too many people, and sometimes I like belittle
Speaker 1: my own circumstances. But I'm learning more and more that
Speaker 1: like the circumstances I came out of them are also legitimate.
Speaker 1: So to to be somebody who has overcome things and
Speaker 1: then to also see people that have come overcome even
Speaker 1: bigger things, like you have to believe that, like your
Speaker 1: I love this quote, your circumstances may not be your fault,
Speaker 1: but they are your responsibility, and so to overcome them.
Speaker 1: I think it's also empowering too. While it's scary in
Speaker 1: some ways, it's also empowering to know you do have control.
Speaker 1: And so where we feel like like the locus of
Speaker 1: control is inside of us. You've talked about that a
Speaker 1: favorite is my favorite concept. Yeah, then we are able
Speaker 1: to move forward in in health towards greater opportunities, and
Speaker 1: we have an ability to when we feel as though
Speaker 1: we actually are able to influence our surroundings and make
Speaker 1: changes within our immediate circumstances, we fare better and your
Speaker 1: business is likely to fare better. Yeah, for sure. Um.
Speaker 1: The fourth one I think is the most important one
Speaker 1: on the list, um, and it's resilience because as an entrepreneur,
Speaker 1: as a human being, you'll make mistakes and you'll fail,
Speaker 1: and you'll have things, Um, you'll have products or whatever
Speaker 1: that you think are going to go great that you've
Speaker 1: market research that you're just really confident in, and then
Speaker 1: they just fall at and you don't know why. Like
Speaker 1: you will do everything right and everything will go wrong. Uh,
Speaker 1: and but you'll have as many times where you do
Speaker 1: nothing right and every and everything goes right. So in
Speaker 1: the time, but we always remember the times that go
Speaker 1: wrong right. We never remember the times we get lucky
Speaker 1: or the times we really succeed. We always remember the
Speaker 1: times where everything went wrong. And so you have to
Speaker 1: develop resilience to move past those things and uh, devalue
Speaker 1: them to the level they actually exist at. And resilience
Speaker 1: is something that we can build. I know sometimes we
Speaker 1: talk about resilience as something people are just born with.
Speaker 1: Of some people thrive and other people don't yet given
Speaker 1: the same circumstances, and we think it might just be
Speaker 1: innate or you're born with it. But the reality is
Speaker 1: is that resilience can be built upon. We can grow
Speaker 1: our resilience factors inside of ourselves, and some of that
Speaker 1: has to do with picking ourselves back up after a
Speaker 1: failure and continuing to move forward to allow ourselves room
Speaker 1: for failure and not allow it to completely derail us.
Speaker 1: To remind ourselves of our strengths, to engage in self
Speaker 1: care practices, and also all of the other three things
Speaker 1: that we've just mentioned before this resilience piece. So there
Speaker 1: are ways to engage in this and and build upon
Speaker 1: it inside of ourselves. It's not as if you're just
Speaker 1: born with it. If I don't have it, well, oh
Speaker 1: well absolutely. And number five, the last on this list
Speaker 1: is humility. I like how they describe it. Humility is
Speaker 1: freedom from pride or arrogance, and it is a necessary
Speaker 1: characteristic of entrepreneurship or starting our own businesses again, even
Speaker 1: if very small. It's the ability to be able to
Speaker 1: be coachable and to learn, and to be able to
Speaker 1: fail and learn from those mistakes and do something different
Speaker 1: next time. UM engaging others in the process and asking
Speaker 1: them to speak into the situation and not imagining that
Speaker 1: we know everything or exactly how something should be done.
Speaker 1: And this humility is going to be a major component
Speaker 1: in seeing success in your business. Yeah. So those are
Speaker 1: the mindset shifts to go through, and in general, I
Speaker 1: think even if you don't want to start a side business,
Speaker 1: they are for the characteristics to have, but especially UM,
Speaker 1: if you want to do something entrepreneurial all, even if
Speaker 1: it's small, because I can name all of these every
Speaker 1: times I've needed all of these things in mine, um,
Speaker 1: and sometimes the humility has been forced, but um yeah,
Speaker 1: it's they're definitely all necessary. Uh So, where where do
Speaker 1: we even go from here? I'll tell you where we go.
Speaker 1: Uh So we're going to entrepreneur dot com. Perfect, yes, so.
Speaker 1: Uh funny thing is that entrepreneur dot com actually has
Speaker 1: the number one result for make more money. Um, since
Speaker 1: that's what I googled because it's the title of the show.
Speaker 1: But I didn't go with that article because that one
Speaker 1: was exactly like what I described at the beginning of
Speaker 1: the show. But in the article, they had a link
Speaker 1: to this one UM called how to make a fortune
Speaker 1: with a hundred dollars And I thought it was just
Speaker 1: a really interesting piece and it like gave some interesting concepts.
Speaker 1: But I think if you're not in like engulfed in
Speaker 1: entrepreneurship or not, haven't started a business, like you wouldn't
Speaker 1: even think I didn't think in this way. But um,
Speaker 1: just like tips from six different really super wealthy entrepreneurs
Speaker 1: on how they would make a fortune with a hundred
Speaker 1: dollars yeah, and so they don't necessarily build upon each other.
Speaker 1: They're all from various individuals providing their insight on what
Speaker 1: they would do. And so the first one, uh comes
Speaker 1: from a gentleman named Gary. I'm not even gonna try
Speaker 1: to pronounce m thank you uh. And he he says
Speaker 1: to buy and flip. So and this is so true.
Speaker 1: They mentioned even the poorest of us most likely has
Speaker 1: anywhere between five hundred to maybe five grand worth of
Speaker 1: stuff sitting around in our closets, in our garages, unwanted toys, jackets, shoes, tools,
Speaker 1: you name it, and being able to uh sell them
Speaker 1: but also buy online and then flip those things. So
Speaker 1: he's saying that we can, I mean, for yeah, figure
Speaker 1: out what these items are worth, purchase them at a
Speaker 1: lower amount at your yard sales or Craigslist or eBay,
Speaker 1: and then flip it uh at the same places eBay, Craigslist,
Speaker 1: Facebook marketplace. And Travis does this, Yes, Travis does flipping.
Speaker 1: He finds a lot of things for free and like
Speaker 1: on Facebook marketplace around the side of the road and
Speaker 1: then he'll clean it up and he'll sell it on
Speaker 1: Facebook marketplace. UM. And we try to make it our
Speaker 1: goal to pay for daycare with the money he makes
Speaker 1: from flipping UH. And we don't make it all the time,
Speaker 1: but a lot of the time we do make it.
Speaker 1: So that's really fun. But I know that people can
Speaker 1: make a lot of money flipping UH, like clothing, especially
Speaker 1: shoes and outerwear. If you follow teach to Thrift on Instagram,
Speaker 1: she does that and she's super successful. But start with
Speaker 1: the stuff in your house. You can start with the
Speaker 1: stuff in your house and UH and just use it
Speaker 1: as a launch pad. So the second one is from
Speaker 1: ty Lopez UM and he says sell or service. So
Speaker 1: the best business is to start when you have a
Speaker 1: hundred dollars or less. Are either sales or service businesses
Speaker 1: because all you need is your phone and the Internet,
Speaker 1: so it can be consulting or selling cars, or life insurance,
Speaker 1: he says, even vacuum cleaners door to door. I don't
Speaker 1: know if I would do that one, he says, because
Speaker 1: these fields hone the skills that will be valuable to
Speaker 1: you when you have more capital, So you learn how
Speaker 1: to persuade, negotiate, overcome fear, and handle rejection. So a
Speaker 1: lot of these starter businesses are really learning opportunities to UM.
Speaker 1: If you have aspirations to one day leave your job
Speaker 1: and work for yourself. Yeah, I like this idea of
Speaker 1: not having much overhead, even if you are considering, well,
Speaker 1: what could be a business that I could start? Definitely
Speaker 1: one that doesn't require you to buy a brick and
Speaker 1: mortar building. Absolutely. Next on this list is test before
Speaker 1: you invest. So if you do have this an idea
Speaker 1: for a small business that you can start, this suggestion
Speaker 1: talks about utilizing a hundred dollars that you might have
Speaker 1: to be able to test your idea or try to
Speaker 1: generate leads. So they mentioned buying twenty five dollar Facebook
Speaker 1: ads and seeing what kind of results you get, whether
Speaker 1: you get a positive or negative response, and if the
Speaker 1: idea falls flat, then maybe tweak it, or if the
Speaker 1: momentum is really good, then keep going with it. So
Speaker 1: if you're uncertain if you've got a good idea or not,
Speaker 1: this could be a really good way to test the
Speaker 1: idea and have a low investment point on it before
Speaker 1: you turn it into something larger. Yeah, this is super
Speaker 1: popular in online business is because you can do a
Speaker 1: conversion ad on Facebook for as little as five dollars
Speaker 1: a day, So putting something up um that states your
Speaker 1: idea going to like a web page or landing page
Speaker 1: or something simple, and if people click on it, then
Speaker 1: you know it's popular. And if they don't click on it,
Speaker 1: you know they don't want it or it's not a
Speaker 1: popular idea. So it's very easy. You don't have to
Speaker 1: know a lot about Facebook ads um to really test
Speaker 1: the service or the product that you want to serve um,
Speaker 1: whether it's online or locally. You can really target ads
Speaker 1: um to two very specific people on Facebook, so it's
Speaker 1: good to see if your target market would be interested
Speaker 1: in it. And the next one is from Chris Plow.
Speaker 1: I don't know if that's how you say his name.
Speaker 1: Utilize your expertise and so I love this one. Uh.
Speaker 1: He says the simplest way to bootstrap is to identify, share,
Speaker 1: consult or teach and then scale. So we found when
Speaker 1: we were paying off debt, it was these side hustles
Speaker 1: that utilized the expertise we already had. So for me,
Speaker 1: it was acupuncture and I did acupuncture on the side
Speaker 1: at a rehab center. For Travis it was he's an
Speaker 1: aircraft mechanic. So there are forms that you fill out
Speaker 1: after you fix something that only a mechanic can fill
Speaker 1: out and so he would while other mechanics were you know,
Speaker 1: fixing stuff, he would fill out their forms and sign
Speaker 1: them for them. Um, so he made money doing that.
Speaker 1: So it was the things that used our expertise that
Speaker 1: got us the highest like buck, highest bang for our buck,
Speaker 1: I guess most money per hour. But yeah, so utilize
Speaker 1: take inventory of your skills, um, the unique positions you're in, certifications,
Speaker 1: anything that you know, and see how you can capitalize
Speaker 1: on it. Yeah, even outside of your regular day to
Speaker 1: day job, it could be something that you turn into
Speaker 1: a side business because of your area of expertise. The
Speaker 1: fifth one on this list is from Steve Griggs and
Speaker 1: reminds us to not forget service. They talk about given
Speaker 1: the FedEx speed and the Ritz Carlton service, and how
Speaker 1: even the way that we approach a small business on
Speaker 1: the side and going above and beyond for those that
Speaker 1: you're providing services or um products too, can be really
Speaker 1: helpful in even getting referrals and future jobs. That this
Speaker 1: because of doing a job so well, you might even
Speaker 1: be able to drum up more business with a zero
Speaker 1: marketing budget if you are going above and beyond, going
Speaker 1: the extra mile for the people that you are serving,
Speaker 1: and it doesn't cost you necessarily to be kind, maybe
Speaker 1: emotionally depending on the client, but that even if there's
Speaker 1: a ton of other people out there doing your idea,
Speaker 1: there could still be room for you to do that thing,
Speaker 1: and you still might have an edge on others doing
Speaker 1: it if you are simply kind, you do good service,
Speaker 1: you're efficient, and that gives you that that edge that
Speaker 1: just might be able to make the business work. Yeah.
Speaker 1: Another side to the service coin is that a lot
Speaker 1: of people struggle to raise their prices or to just
Speaker 1: price them at a point that's viable. They don't think
Speaker 1: that their time is worth that or that their service
Speaker 1: is worth that. And so adding more service or more
Speaker 1: features or more bonuses that make your service or product
Speaker 1: more appealing or quote unquote worth more but don't necessarily
Speaker 1: serially take more of your time can help you charge
Speaker 1: more and more for things UM help you validate it internally,
Speaker 1: because most of the time I'm increasing our prices as
Speaker 1: an internal struggle, not external UM. But it can help
Speaker 1: you to add more service UM to justify price increases.
Speaker 1: So like a digital product or even a physical product
Speaker 1: that you can give UM something that you can give
Speaker 1: over and over for free. That isn't giving more and
Speaker 1: more of your time. And last on the list is
Speaker 1: from Roy McDonald. He says it's never about the money.
Speaker 1: You could start over six thousand businesses with a hundred
Speaker 1: dollars um. But he's like, I've I've taken whole blocks
Speaker 1: of apartments with a hundred dollar option and traded them
Speaker 1: and I was like, I don't know what that means.
Speaker 1: But it's never about the money. It's about how good
Speaker 1: the idea is UM. And he says it's also about
Speaker 1: partners if you have those, but it's mainly about your
Speaker 1: deep knowledge and understanding of the marketplace. UH that will
Speaker 1: accelerate your business and your business venture. So it's your
Speaker 1: job to articulate the vision of the business to people
Speaker 1: so they buy it. And so your your money or
Speaker 1: your time is better spent in marketing your product or
Speaker 1: service your business UM than actually in the business. And
Speaker 1: so you need to be able to articulate why it's
Speaker 1: important and UH do your market research and all of that.
Speaker 1: And I like his focus on getting the right people
Speaker 1: around you in that process that whether or not they
Speaker 1: even turn into a business partner, even getting consulting or
Speaker 1: ideas and opinions from the right people who are able
Speaker 1: to speak into those aspects can be invaluable to the
Speaker 1: beginnings of this thing. Yeah, and you know what their
Speaker 1: beginnings are invaluable. It's the bill of the week, that's right.
Speaker 1: It's time for the best minute of your entire week.
Speaker 1: Maybe a baby was born and his name is William.
Speaker 1: Maybe you paid off your mortgage, maybe your car died,
Speaker 1: and you're happy to not have to pay that bill anymore.
Speaker 1: That bill Buffalo bills, Bill clin, this is the bill
Speaker 1: of the week. Hi guys, this is Emily from Aca,
Speaker 1: New York, and I'm calling with my bill of the week.
Speaker 1: And my bill of the week is light bulbs. So
Speaker 1: we decided that we were going to switch to LED
Speaker 1: light bulbs to help save on our electric bill. Um
Speaker 1: and since we're a no spend challenge, I wasn't going
Speaker 1: to buy them right away, so I was price checking
Speaker 1: and seeing how much they would be at different places
Speaker 1: and found that the cheapest was probably gonna be about
Speaker 1: twenty bucks for a twelve pack. But today we got
Speaker 1: an email from our electric company that they have a
Speaker 1: sale on light bulbs and they were six dollars for
Speaker 1: a twelve pack instead of like twenty bucks. So we
Speaker 1: bought two twelve packs of light bulbs today and I
Speaker 1: was just so excited that I had to call and
Speaker 1: tell you guys that how much we saved on light bulbs.
Speaker 1: And then we're going to be saving so much on
Speaker 1: our electric bill switching all of our light bulbs because
Speaker 1: we have like a million light bulbs to switch over.
Speaker 1: All right, Thanks guys. Love the podcast. That's so fun.
Speaker 1: I love it that people think of us now when
Speaker 1: they do stuff like this. Any little money savings are
Speaker 1: like small bill? Is it just I just gotta call
Speaker 1: you and tell you, and I am equally excited with
Speaker 1: you that you got a deal on something you'd already
Speaker 1: been looking for. I think that's what always stands out
Speaker 1: to me is when you're a shiuan for something and
Speaker 1: it's something that you need, and then and then it
Speaker 1: comes along that there is a deal on that exact
Speaker 1: thing that you need, it just feels like the stars aligned.
Speaker 1: You know. That's the best part. It's like it comes
Speaker 1: before you buy it and not after. Yes, that's a blessing. Yeah.
Speaker 1: And the double whammy that not only did you save
Speaker 1: money on the light bulbs, but now it's going to
Speaker 1: save you money long term on every single electric bill
Speaker 1: that you get from here on out. Well done, Emily,
Speaker 1: and while done on your no spend challenge, we just
Speaker 1: glossed over that one. Yes, she's being patient because she's
Speaker 1: on a no spend chal and there's so many people
Speaker 1: on no spend October right now, it's so good. Well,
Speaker 1: if you want to submit your bill of the week, please,
Speaker 1: if you save money on something you think of us,
Speaker 1: visit Frugal Friends podcast dot com, slash bill and leave
Speaker 1: us a bill and we will listen to it and
Speaker 1: love it. Now it's time for This is the moment
Speaker 1: even waiting for. We don't talk about our side business ventures, yes,
Speaker 1: because this is all we do, and we don't talk
Speaker 1: about it a lot, But even together we don't talk
Speaker 1: about it a lot. But we're always coming up with
Speaker 1: new ways to make money that in itself is our
Speaker 1: our hobbies. Yeah, how we started our side business ventures.
Speaker 1: I don't even remember what my first side business was. Honestly,
Speaker 1: I feel like I've had so many and not all
Speaker 1: of them have have done gone anywhere, right, like obviously,
Speaker 1: because I'm not doing like twenty different things. Most of
Speaker 1: the time, I did have like plants on the side
Speaker 1: of the road at one point, trying to make money
Speaker 1: off of that. Just like any time I see something
Speaker 1: that I'm like, this could make money, like I just
Speaker 1: go for it. And maybe that's part of the decisiveness thing.
Speaker 1: And sometimes it works and sometimes it doesn't. It's always
Speaker 1: fun at least exactly so. But the first one that's
Speaker 1: coming to mind is, as I mentioned earlier, Eric, my husband,
Speaker 1: and I had a DJing business and it was just
Speaker 1: something that we did on the side, and really it
Speaker 1: started because we already had the music equipment. Eric does
Speaker 1: music recording and has toured in the past, and I
Speaker 1: don't know, we just has a collection and we would
Speaker 1: get people asking if they could borrow our speakers at
Speaker 1: different points, or he would utilize that them like his
Speaker 1: equipment at concerts, small concerts in the area, and I
Speaker 1: don't know. We might have been asked by a couple
Speaker 1: at one point if we would DJ their wedding or
Speaker 1: we saw that they're either one. Something happened here, something
Speaker 1: happened where we saw that, oh we got equipment and
Speaker 1: people want this service at an affordable rate. We already
Speaker 1: have other businesses and work that we're doing. So this
Speaker 1: could be something that we do on the side. It
Speaker 1: could be lucrative for us and still affordable for other people.
Speaker 1: And there's really no upfront startup cost because we already
Speaker 1: had the equipment. So that was It's an example of
Speaker 1: something that we had on hand, a skill that we
Speaker 1: had in our back pockets, that we figured out, how
Speaker 1: can we make money off of this? We we don't
Speaker 1: say we don't do it anymore, although literally a week
Speaker 1: and a half ago we did t J a wedding.
Speaker 1: I don't know. We just can't get out of it. Um. Yeah,
Speaker 1: it was for good friends and we were so pleased
Speaker 1: to do it. But I would say for a couple
Speaker 1: of years we would do a handful of weddings and
Speaker 1: it brought in some real decent cash for hanging out
Speaker 1: with people on the weekends and playing music with equipment
Speaker 1: we are already had for sure. Hopefully they were open
Speaker 1: bars at these weddings. Um. So my first side business
Speaker 1: was the T shirt business, and that one taught me
Speaker 1: so much about business. Um it went, it went up
Speaker 1: really really fast and crashed even faster. Well done, right,
Speaker 1: So I was designing t shirts. I heard about UM
Speaker 1: merched by Amazon from the Side Hustle show. Great podcast
Speaker 1: if you want side business ideas. So I was listening
Speaker 1: to the podcast and I was like, I could design
Speaker 1: T shirts. UM. I used Canva, which was which is
Speaker 1: free UM, and then just uploaded them to a site
Speaker 1: that would remove the background because I wouldn't even pay
Speaker 1: Canava to get transparent backgrounds. Did it all for free.
Speaker 1: It only took my time and they started to sell. UM.
Speaker 1: But I towed too close to the line of copyright
Speaker 1: infringement where it wasn't copyright infringement but it was intellectual
Speaker 1: property UM. And other people were doing it, and so
Speaker 1: I was like, if they're getting away with it, I
Speaker 1: can UM. But my problem was that my shirt got
Speaker 1: very successful and it got up like sold very well,
Speaker 1: and so UM somebody else reported it and that's what happened.
Speaker 1: That was happens a lot in when people get something
Speaker 1: that's really successful. I've seen I mean, it's happened to
Speaker 1: me with my book too, and that got really successful. UM.
Speaker 1: Somebody flagged some broken links and got my book taken
Speaker 1: down for a few days, and then magically there was
Speaker 1: another No Spend Challenge book up on Amazon. So that's
Speaker 1: that just happens. That's business. People intentionally sabotage you. UM.
Speaker 1: And part of it was my fault for towing the
Speaker 1: line too close. And uh so I was taking off
Speaker 1: of Amazon, UM, and that was I got back onto Amazon,
Speaker 1: but UM without that shirt. And I had some other
Speaker 1: very popular shirts. One was even more popular than that,
Speaker 1: and it was not copyright infringement. And then somebody went
Speaker 1: and trademarked the phrase and then reported my shirt and
Speaker 1: took it down. So yeah, so that was It was
Speaker 1: totally fine when I took put it up and then
Speaker 1: people trademarked it. So I learned so much about business
Speaker 1: from that UM and I'm so thankful it provided some
Speaker 1: money to help us pay off our debt faster. UM.
Speaker 1: But I no longer sell T shirts and I actually
Speaker 1: have one of If you google how to start a
Speaker 1: T shirt business, like, you'll find my article. But I
Speaker 1: no longer do it because I knew when to give up,
Speaker 1: Like I had already been kind of wanting to do
Speaker 1: other things. I tried to outsource the shirt design and
Speaker 1: I just I picked designs that were I picked a
Speaker 1: designer that just did not jive UM and so I
Speaker 1: spent all this money and nobody bought a single one
Speaker 1: of our designs. Um So, I think you're making a
Speaker 1: good point though in this example to dot your eyes
Speaker 1: and cross your tea s that, yes, while we are
Speaker 1: providing water and sunlight to all of your ideas, we
Speaker 1: I also want to highlight here to make sure that
Speaker 1: you know what you're getting yourself into. I've got a
Speaker 1: good amount of friends actually who have some side businesses
Speaker 1: selling baked goods or food pre prepared, which is awesome
Speaker 1: and they're doing very well with it. But if that
Speaker 1: is it's an example of a route that you could take.
Speaker 1: But to make sure that you know what is required
Speaker 1: view regarding the type of kitchen that you're cooking in,
Speaker 1: and you know, providing items that are gluten free or
Speaker 1: what you know, whatever you're getting into, that you're aware
Speaker 1: of the liability, that you have insurance, that you know
Speaker 1: how to handle taxes, and of course there are others
Speaker 1: to help with this. You don't have to be an
Speaker 1: expert on all of these things. That's part of the
Speaker 1: team approach that we talked about in one of our
Speaker 1: articles earlier, and getting the right people around you. Um
Speaker 1: and it doesn't have to be overwhelmingly complicated. I just
Speaker 1: want to mention that caveat that it's worth doing some
Speaker 1: research as far as what will this require of me
Speaker 1: and what are the risks as I enter into this? Right, Yeah,
Speaker 1: you don't have to start with insurance or you know,
Speaker 1: a business account or getting an LLC. Like, you don't
Speaker 1: need any of those things to have a side business
Speaker 1: like those are once you start, you know, making money
Speaker 1: and want to take yourself to the next level. But
Speaker 1: you should always be h you should know, do trademark searches,
Speaker 1: copyright searches when like you're naming things, um, and just
Speaker 1: be aware of like common sense actually yes and ask
Speaker 1: people about that. Yes, if you don't have it, ask uh.
Speaker 1: So most lucrative side businesses and what made it so? Honestly,
Speaker 1: I know that we joke about this podcast and how
Speaker 1: little money it's it has made us, so maybe this
Speaker 1: is indicative of how little my previous side hustles have made.
Speaker 1: But honestly, we are getting to the point where, thank
Speaker 1: you so much to our listeners and the support that
Speaker 1: that we received through that and through sponsorships, we are
Speaker 1: beginning to make money off of this podcast and I
Speaker 1: think partly because of the longevity that we've had with
Speaker 1: it um it, it is becoming lucrative. And I think
Speaker 1: because of the income to time ratio that's happening. We
Speaker 1: don't put a ton of time into the podcast and
Speaker 1: yet make some money off of it. So I think
Speaker 1: in that way that's what's making it the most lucrative.
Speaker 1: I'm not spending an entire saturday doing this like I
Speaker 1: did when I d J. It's we've made a decent
Speaker 1: amount of money, but I think percentage wise, this is
Speaker 1: probably more lucrative. For sure. Yeah, it is certainly. We
Speaker 1: thank you for supporting our sponsors and buying the workbook.
Speaker 1: All this stuff helps us be able to do the
Speaker 1: podcast longer. Now for me, my most lucrative one is
Speaker 1: self publishing. So my book The No Spend Challenge Guide
Speaker 1: UM brings in around a thousand dollars a month, and
Speaker 1: then I have to other books that UM bringing much
Speaker 1: less but still UM some money. So that's I mean great.
Speaker 1: And the only thing I can attribute it to it
Speaker 1: was it was a little bit of doing everything right UM.
Speaker 1: So I really used self publishing school their their content
Speaker 1: and Chandler Bolt's book UM and just did everything that
Speaker 1: they said and then a little bit of luck to
Speaker 1: um getting picked up by the algorithm in the right
Speaker 1: place at the right time. Because I did the same
Speaker 1: exact things for my other books and they're not nearly
Speaker 1: as successful. Um, but just getting it, you know, making
Speaker 1: your own luck, almost being in the place to being
Speaker 1: in the right place to get lucky. Um. Because that's
Speaker 1: kind of how business works, right. Um. It's a it's
Speaker 1: a lot of work and a little luck um. But
Speaker 1: without the work, you don't get the luck. So well
Speaker 1: said I we hope that this is going to be
Speaker 1: helpful to you, or even if you've got that little
Speaker 1: seedling in your belly wondering is there something more that
Speaker 1: I can do besides Rover or uber eats, then yeah,
Speaker 1: maybe keep considering that and certainly join us in the
Speaker 1: Frugal Friends community Facebook group and tell us what is
Speaker 1: on your mind to start or a side business that
Speaker 1: you have started, and how it's going. I think that
Speaker 1: we've got a lot of people who are creative and
Speaker 1: entrepreneurial minded and really just tenacious to save money and
Speaker 1: become debt free. So yeah, I think that this is
Speaker 1: within the vein of our community because it takes this
Speaker 1: type of person to be able to even start a
Speaker 1: side business too, for sure. And if you're interested in
Speaker 1: learning more about starting side business, I have a eye
Speaker 1: Business Starter Kit, which is um just a workbook that
Speaker 1: you can use to get a side business off the
Speaker 1: ground to learn more about what you're perfect side businesses
Speaker 1: and um kind of some places to look to get
Speaker 1: more education about different side businesses. So Frugal Friends podcast
Speaker 1: dot com slash side business to get that one noise,
Speaker 1: And we want to thank you all so much for
Speaker 1: listening and for your kind reviews on iTunes and Stitcher
Speaker 1: like this one. It comes from whoa gosh, I don't know,
Speaker 1: rat Ratski. It's called binge Worthy and it is funch
Speaker 1: of letters. I've been binge listening. Is that a thing?
Speaker 1: Of course? It's a thing to this podcast for the
Speaker 1: past few weeks, and I look forward to new episodes
Speaker 1: so much. Such a fun take on a traditionally boring
Speaker 1: top biic star eyed emoji. Yes, we love him. When
Speaker 1: you add emojis to your reviews and then we can
Speaker 1: act them out to each other because we are live
Speaker 1: in Florida, no I know. So we also want to
Speaker 1: thank our friends who share these episodes on social media.
Speaker 1: So when you share the latest episode and tag us
Speaker 1: on either Facebook or Instagram, We're going to add you
Speaker 1: to our monthly drawing. For every five tags and reviews
Speaker 1: we get, we're giving a way a copy of the
Speaker 1: Frugal Friends workbook. So keep leaving us reviews on iTunes
Speaker 1: or Stitcher, send us the screenshot of that review to
Speaker 1: few Frugal Friends podcasts at gmail dot com, and don't
Speaker 1: forget to tag us on social and we will see
Speaker 1: you next week. By Frugal Friends is produced, edited and
Speaker 1: mixed by Eric Sirian. This makes me want to start
Speaker 1: another side business, don't It doesn't make me want to
Speaker 1: start aside miss. I have so many things all the time,
Speaker 1: something new all the time. I keep describing to people that, like,
Speaker 1: the last couple of weeks have felt like whack the Male,
Speaker 1: only like not the good version of whack them all,
Speaker 1: where like you get tickets and prizes at the end,
Speaker 1: just like the worst kind of whack a mole. But
Speaker 1: even still, I don't know. I talk about this topic
Speaker 1: and I'm just like, you get money at the end,
Speaker 1: you get if you're not getting money at the end.
Speaker 1: Gill it's not a business. Well, I just mean life
Speaker 1: has felt like whack the ball. So yeah, some of
Speaker 1: the things that I'm whacking are giving me money, and
Speaker 1: some of them are just life things. And things i'm
Speaker 1: whacking are also giving me money in my business. Talking
Speaker 1: about business, Jill, I don't know how we got here. Well,
Speaker 1: I want to go to a carnival now, all right,
Speaker 1: let's go. Okay, bye,