This couple's 8 income streams bring in over $3 million per year: 'It all started with side hustles'—here's their best advice. (via CNBCMakeIt)
As a married couple, one of the most rewarding accomplishments of starting ourwas the ability to eventually step away from our 9-to-5 jobs. Now we get to focus on things that are important to us, such as spending time with our kids, traveling and giving back.
A lot of people, especially younger folks, often ask us about what to know before turning their side hustles into a full-time business. Here are five mistakes we learned the hard way:In the early stages, we were woefully unprepared for the craziness that ensued when we really got into the thick of juggling our full-time jobs and fast-growing side gigs.
If not, how and when can you complete this task in the most time-efficient way? When is the deadline?2. Mistaking revenue for profit Let's say you start a side hustle in the landscaping industry. Eventually, you grow it to a full-fledged business that generates $600,000 in annual revenue, with $130,000 in net profit — assuming you don't take a salary.
Once your business is successful, customers will pay for perceived value. And oftentimes, if something has low costs, people may value it less.
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