Stop Trying to Monetize Your Side Hustle
I was scrolling through Instagram this week whilst relaxing on my couch, when Tom Bilyue suddenly yelled at me, “Stop trying to immediately monetize. Stop trying to make quick money. Because money only monetizes once, but a well developed skill set can monetize for a lifetime.”
There’s the answer to the title question. Chasing money means you make it and then you only get to spend it once. Chasing a skill set means you get paid indefinitely. Catch my drift?
So if you are out here working a 9-5 that you’re completely disgusted with and want to move on to your side hustle like NOW, trust me when I say… slow down. Trust the process. Keep grinding. Keep putting out content or services or goods for free. Because do you want to know what will happen as you do all those things? Over time, you’ll look back and realize that you’ve gained:
1. A highly refined skill set
2. A passion that could only grow because it was never pressured by the need to monetize
3. A loyal and engaged audience
All 3 Keys to a successful business. All that free content you put out, all the products you gave away, the time you spent, were building blocks for the foundation of an extremely valuable set of skills.
So slow down. Make your 9-5 shmoneys, and then come home and bust your ass at your side hustle. Make it your goal to refine your skill set, to become an expert on what you’re doing. Practice small, and slowly work your way up to bigger things. And challenge yourself to let go of the urge to immediately make money. Because if all you’re chasing is money, you’ll lose the passion.
The beautiful thing about passion is that it pays for itself. It just takes time.
Give it time.
Thanks Tom Bilyieu.