Transcript for How to make extra cash outside of your day job
I'm Rebecca Jarvis and this is real this happy Friday and the chief business technology and economics correspondent purity ABC news coming to as we always do. From my office here at ABC news and I have an awesome guests with us today Chris Gayle about he is. A best selling author his brand new book about side hustled just came out it's called site hassle for my idea to income. In 27. Days so if you were to start this weekend by November you'd have everything done. Much he's good amber right now in August by November. Right cyclist 47 is always right so if you look at point six Mount Lebanon if people mark nice to give people that extra day to get big. You also have an awesome podcasts that people should definitely check out called side Hassell. And people should check that out. The site has hiked site has a school that's I think it I want to make sure we get that rate. So check it out. Let's talk about outside hassles because that's something I'm sure a lot of people out there are thinking how to make a little extra money it's something that you thought about it your lifetime it's something that you literally are talking to people about how they're doing it every day. And I think for a lot of people it's that initial starting point oh where does one begin. Look at so I think people have one of two problems one I've seen over and over lots of conversations 720 years myself and writing less hustle straight years. First problem people out I don't have an idea. I am not a good idea like I hear all these stories. People who've done this that make lots of money I don't know what skills I have bickered you know I got on a world. So trying to help people first of all like learn where ideas come problems develop the power pure curiosity observation. All that second problem as I got ideas ideas are not my problem and got Jimmy ideas and I don't illegally hacked I don't know I don't know how to decide. Whittle it down or then what drug and acts like what is the stuff that's a process so Michael my hope is like in the place and they plan. Is to simplify and district where the complexity and say okay here's what you need to do here's what's essential and I'm making this book for busy people. Who don't have a lot of time and don't necessarily want to be entrepreneurs. Like I would say come on yeah level like I can't work everybody else basically thought it was like me. You've traveled the world perhaps you've seen pretty much every place in the world as well every country but there's an appointment in every country in the world so you got a stamp from every country in the world and your passport and a so what would people out there are at that initial step named they've whittled it down okay they've got their idea place then what. OK so then the next part is develop your idea so what do you need to have a what are the deliverables wanted to outcomes like you website okay. There's lot of simple ways direct web site doesn't have to be super complicated. You. Actually that's an interesting point because I think a lot of people. I talked entrepreneurs all the time and and there are a lot of people at ABC news aside hassles that are here and make people and shout out to Olney I'm learning here talking to people at ABC a lot of them are doing site removed. And one other thing that stands in their way from getting started and they'll say well he went up yet you know I don't know what to deal Ernie Ernie question how much money they should even he spent rat rat rat putting into Webb's rent. What do you think Byron book years ago called a hundred dollar start up I basically thought not spending money at all I'm actually encouraging people don't take a lot of risk don't quit your job don't spend a lot of money. And also the Lehman go out and try to get a bunch of new skills like this doesn't you have are actually very valuable. So it's just about using their skills and different west about its accidents and awesome entrepreneurial parent make up people and you think that it's important to have the website is it 5% on the business of outside hustle I think I think it's. You don't probably important for most people in but it doesn't need to recent Republican business I think the other thing people struggle with is they have ideas like you said but they don't go from. Idea to offer like days ago that this general idea I can only do this one thing. Let people like us as consumers we don't my ideas with our products or services. On trying to help people like really quickly like right when you start to think about it might be this kind of thing. Well you know what is that exactly where people paying for how much is a costs how to they give you money. And how do you come up with B how much does that cost aspect because for example right. If it's a side hustle and it's a service who you could go out and call any other company that's offering the same service and figure out how much they're offering it more and then decide. Is my time more or less valuable is my service more or less valuable than there is how do you think of that when it's been outside hustle and it writer mean game. Right right I'm valuing the distinction. I think you're on the right track when you're like how much is my time worth is lying hurt people or do when they're doing this for the first time. Is you kind of gonna set a floor. Four you're gonna have a service based business you're charging by the hour but what's the minimum that you would accept if not sure that should be think about what you making your day job. Documentary on an hourly employee like kind of break it down what is that. Should meaning less than and hopefully to be more or less a senator base points if you get to that point that's great and we think Islamic more. More money charter when when do you start raising prices when people are buying it. When supply it. Win yeah we're direct demand outweighs supply side Yasser it's adjusting of the lots of experiments and most people can change the price of something it doesn't actually a commercial at all yeah so that's where interest Aaron. You have some really interesting examples of successful outside hustlers in the book. The Pennsylvania toiling gas representative who brings an extra 1000 dollars a month posting images on. In triples move the single mom who designed her own astrology calendar and immediately made 5000 dollars on Etsy. The software developer who raked in 7500 dollars a month after creating a real time Bay Area traffic. Of those examples are all in this direction go into detail on how each of these people did. Absolutely. How much my they made as you said oh yeah where they struggle how they overcome those struggles. So all as examples none of those are part time jobs so this is a big distinction not telling people regarding get a part time job which is what allow the government think aside hustle. But like I've got a forty hour week job but then I go to works 120 archer somebody else. That's audited on talking about creating an asset partners often trying to popular Chris and then they can point here is I have ownership cover that. And go to bed tonight at wake up in the morning and there's a PayPal notification of his give me a 150 dollars yet feels really great yeah she never had to before it is it's like so empower. 88 well and I love that and I love that in each of these examples in all the cases they're people who just like they enjoyed doing something and then they figured out a way to make money off of that thing that they were enjoying so wasn't. This GE where all the ways I could possibly make money in addition to my job and a lot of them are probably quite painful and I Trent Lott urged jurors scared I got it not be enjoy it. Assuming you're good at this process now I mean yes in part I think your motivations matter a lot I think you know you can't just follow any passion and make money from it but. You my eyes will be passion about what you're doing. There's lots of things that you like to do there's lots of things other people value what is the intersection what's the convergence between those two that's what I think is interesting find you don't have dread your site hustling and look forward to right. Well I mean why even duet I obviously that you want to make extra money but are frankly like. This is also about elevating life and having of the relevant and Alexander really big part of your whole story in everything that you pointed to over the years. What do you think is the biggest mistake people. I think the biggest mistake you poet is waiting too long. I would also put like spending too much money or trying to trying to do something that isn't really their scale out here from all but given out. I do personally that no I don't and our guess what I don't either because of not a web developer side Hayley people all the time on the road oh like. My ideas to make an app and I'm like do you know how to coach Mike know. You know. I think is much better to use the skills that you how. So don't so what what are your health care right here terror America you're good at organization and yeah. Yeah like if you're gonna communication you meet deadlines here in professional almost things we have mothers in a different way. So but I honestly think the biggest mistake is just kind of waiting too long to get started I hear from people who like but the guy the guy who actually did make an app who wasn't web developer's plan. He he put that out. Like yeah this deadline without store launching. And by his own admission is that we're really not ready like he had some missing features there are some bogs it wasn't that pretty beaten but he was like if I don't do this now I'm never gonna do yeah and he put it out there and when the first month that made like 2400 dollars news like. Okay I like to go back and others feature now it's been the signs it's and this is like a few years ago and now it's not his fault I'm income. So I think the big ticket waiting too long which is why did this 27 step plan. I really appreciate it's interesting that you say get started and don't wait too long because Alexis oh Henne and the creator read it right. He's been on real biz before and we talked to him about. One of the things that one of the early think pieces of wisdom he took. And Paul Graham the legendary in a pastor basically said. You got it like push plate today. Use the does that mapping out real time because it's never going to be perfect rack so I think that for a lot of people there's the sense whether it's a site has a Lorenz an actual company. There's this feeling of everything has to be absolutely perfect right and frankly once you get it out there you can actually determine what the market is not only right. Exactly exactly I think that's another key point because. In a lot of launch guerrilla education it's very much focus on this validating an idea I think like how do you know they tried give a pretrial. Some solace owes you won't know NT for the validation comes through doing it. Write it down it will likely got treats due to all right doctor so right now make a doctor's office and not Osce would happens and I think people are afraid of failure though it's I'm like yeah right in the fail some Monica. I always encourage them like what if what if you succeed like you thought about that might not actually might happen and also if the costs are low if you're not spending a ton of money. And if it doesn't work out then you try something else maybe. GAAP great advice wit we're taking questions from our viewers out there too so. If you have a question for Chris be sure to write it in the comments and he'll answer it here about how to make money. On your side hustle and that's another thing another point that you made that I really appreciate you basically said it. You're making money it's a hobby it's not exactly exactly and nothing wrong with have an obvious do something for -- do something for art I'm talking about making money. Interest and you decide Hassell the first necessity. Yeah I think apple was your first that's my first time Oslo was non selling things on you today is what you vapors came out along time ago yet might start selling random things were around my apartment and I made like fifteen to ten dollars an hour I'm like oh my god you know my job was paying eight dollars an hour in college I don't you haven't nothing's director of -- have -- I ran out of things and I would have you know that was opportunity your problem is god your. Honor. Price of dead it was like OK that was like the first deductibles. And fifty cents listen in the early days of think three dollars in the early days on eBay you can go to the store and buy something at him listed in people pay more for it you know I was I was one though unfortunate so. After that after a got. Notes are paying attention and look at the auctions it has completed yeah and I would try to find transit like what is selling and like how can I find out where that person purchased item and so did not for long time like I'm not building a huge business side. I was able to sort myself. Italy things I believe to I was able to travel. I spent four years in West Africa as an aid worker. Mike largely supported by that process and I came back and had this question visit every country in the world but all this has come through the role of tight muscles so. To me it's been just like one thing after another like him but journey and you know we'll see what's next. It's really cool what you got and by the way I want you we hear Chris is going next but when he leaves here he's already told he's getting on another airplanes right we don't like give up a parent your location entirely he's not ruling on May Brooklyn. Islanders on you don't need to maintain a little bit of seeing. I immigrants have kind of a public life you know platitudes. Among a hundred city tour right now I'm not some traveling to other cities. To be great to see some of the viewers to look up kicking. People find you what are some of the places people can find ya store well in the first place if you're gonna sign Russell school dot com slash tour yet to see the whole itinerary. So here we are since this is New York City stop number nine I think out of hundreds of these some almost on. It's like the final stretch he didn't get through this is it our expires and copy your it's one step at a time when city time it's actually act I feel really fortunate you have to travel diet. Mean not related usefully. Move a bed airplanes or in bets but sometimes well. This and I feel really fortunate I I feel great I have the best life you know. I have people they care about what I do you like it to write books just like you know you speak to people apparently say isn't it wonderful like I spoke grateful. That's out here authors once a lot of come not decide back but I got is that complain about the toward him like you have a great life Kenya I talked to remember. That would not not I'm not saying that's you know I think I think that there aren't your ops and our question are. Pattern here. Oh that's great question ping us if better much bigger than passion good. I'm I think they're not for economic thinker I don't know if it's what you think but I think they're both good my directions. I think. You know there there's too like. Really good reasons for why you decide hustle won is because of necessity this role that we live and age you know and and anxiety and insecurity people understand it can't trust there. They're you know well being to corporate structure Irving knows that. But I also think it's really exciting night if you can do something that you that you love thank you pay for it that's that can be very motivating as well so I think it's thought. Yeah and soldering and really. Well right I think that it it also can depend on who you are and I mean if if if it is total necessity. Try to figure out how to fill that need Ryan they clearly there are a lot of people who are dealing with that necessity in the world right now. But it is obviously in the very best his case scenario threat you're pursuing them in your passion about your finding ways earning money on. Fair share. I think the most people make make bad decisions when they decide out of desperation. You know and so I grinder encourage people to. Don't just like leap and an outlook here let's build a net write building safety and that's the you have options. So you're not in that situation at the efficiency you're actually a situation where you have choice and you have options if you love your job then great you save your job. If something ever changes then you have another opportunity. Yeah absolutely. Questions. The best. And I don't actually I'm not even expert anymore it's been a long time now get to that point no I look at it here the question imagery in I have ever but it was about but the best thing to sell on eBay as. I think Chris basically sent out more yeah at that point it. There's so much now they're all these platforms put truck hit tryst or instant Graham or FaceBook. We're Twitter where now people can use them as a motive promotion they got even use them as a way to make money searcher and early when you started that it really they didn't exist in the way that. Sailors airing new reality there was. It was definitely not common in like nobody really understood what I did do like my guests didn't quite get it my parents certainly didn't get a whereas and I thought that's very different you know now on the coffee shop like there's like five people that are going to and a little tight muscle and all that so. Lots of starter pot farms I call them starter pot farms. Like up work dot com you can go on and do stuff like five or dot com you can do services. I think it's good to experiment with those but I think the challenge there is you're not really building something for yourself yes you're completely dependent on their pot. Hurtling out of survey are yours there are some things so what menial task close gladly. That your gonna do you're gonna make some money what does not about it is there's a great start if you've never done a report Mexico guide but then. In the long term again I want to help people like how Morris has the lives and create an asset yeah. But I also think one of the points that you make that I think is really important and you were touching on it earlier. Is. The amount of investment that can put in ahead of it. This is remember this is yours white house press ranking you wrote the book about a hundred dollars a thousand dollar I don't need a title on scene to get start anything. And if you think that you do you could be making a big mistake. Economy I feel like many people ask you some times people elect I've got X amount of dollars to spend on starting a business. What united I don't know what I and I got 5000 dollars but this was the wrong question yet you know people there on that yeah. I tried not to spend any yes good. If or. Any lesions and I don't and it relationships that Margaret. Personal relationship or corporate relationships. I mean let's let's let's focus on this this notion you know employer relationships and what to identity Muster people who are like. You know I'm writing from my cubicle and not supposed to be like reading your blog or listening to your podcasts. And so they're they're there is that situation out there for some people I also. And spouse or hear from lots of CEOs and executives here really supportive of their employees inside us listening recognized that. Having people who are excited to come to work because there productive and and well rounded that's good to. And in terms of other relationships while you prioritize what's important here you do what's important view you can invest in yourself you can crate this. You know projects of the you have more choice and more options and and you contend investor your relationships as well what. Awesome Chris feel about things is my second coming out real as the book is called site well he is a best selling author he's also written the hundred dollar start up the happiness of pursuit. The art of non conformity. And he has an incredible podcast called site has the school he got a kick out wherever you listen to your podcasts. So thank you so much and I thank you. Based brother Rick questions and I have a great weekend happy Friday.
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