613: 14 Income Producing Assets

0:00:00 14 income producing assets to help you build
0:00:03 an outside hustle cash flow.
0:00:05 What’s up, what’s up?
0:00:06 Nick Lover here, welcome to A Side Hustle Show,
0:00:09 part of the entrepreneur podcast network
0:00:11 because you’re the CEO of your own life.
0:00:13 Nobody else is gonna do it for you.
0:00:15 Really important topic for you today
0:00:17 because you know you can make money with your time.
0:00:19 Yes, but there’s a powerful unlock
0:00:21 that comes from making money
0:00:23 that’s not directly tied to your time.
0:00:25 Once income from assets with control
0:00:27 exceeds your monthly expenses,
0:00:28 you’re financially free.
0:00:30 And one way to start to build up that
0:00:32 is with income generating assets.
0:00:34 Income producing assets,
0:00:35 these are things that you own or control
0:00:37 that pay you every month, every quarter, every year.
0:00:40 These are stackable, scalable, honestly pretty addicting
0:00:43 and can help you improve that ratio
0:00:46 of active to quote unquote passive income
0:00:49 in your personal income pie chart.
0:00:51 Now you’ve probably heard the saying
0:00:51 that it takes money to make money.
0:00:53 And to be sure, starting with money,
0:00:55 it’s not gonna hurt you,
0:00:56 but you can also create income producing assets
0:00:59 with a little sweat equity.
0:01:00 Now, when I think of income generating assets,
0:01:03 real estate is one of the first things
0:01:05 that comes to mind and that’s number one on this list.
0:01:07 Real estate can come in all shapes and sizes.
0:01:09 We’ve covered on the show rental property investing,
0:01:12 mobile homes, rental arbitrage, house hacking,
0:01:15 real estate wholesaling, land investing, Airbnb co-hosting,
0:01:19 a ton of different strategies, right?
0:01:20 But a basic example would be buying
0:01:22 an investment property and running it out.
0:01:24 You profit on the spread between
0:01:26 your monthly rent and your expenses,
0:01:27 those being your mortgage, your insurance,
0:01:29 your maintenance costs.
0:01:31 Now this is a realistic way to build
0:01:33 both cash flow and long-term wealth.
0:01:35 In fact, not surprising, rental income
0:01:37 is one of the most common income streams of millionaires.
0:01:41 Here’s how Dustin Heiner explained
0:01:42 his out-of-state rental portfolio in episode 387.
0:01:47 – The way to start is to number one,
0:01:49 find which state you’re gonna invest in
0:01:51 and then zoom into which city you’re gonna invest in.
0:01:54 And the way you do that is I usually use Zillow.
0:01:56 Zillow’s a great site to get big, broad picture.
0:02:00 Actually, it’s a start as we look through that.
0:02:03 It’s a tool for us to do more due diligence
0:02:05 and that’s basically just making sure
0:02:07 we’re making a right investment.
0:02:08 But you’re looking at the entire state,
0:02:09 look for population areas that have
0:02:11 a lot more properties than not
0:02:13 and you zoom into that city and you get even closer and closer
0:02:17 and you’re gonna look at all the different properties
0:02:19 in that specific city to see if they meet your criteria,
0:02:23 how much money you have to invest,
0:02:25 the type of properties that you want
0:02:26 and how much rent it’s gonna make.
0:02:27 So you’re making, here’s a principle for everybody listening.
0:02:30 You wanna buy for $250 or more in passive income
0:02:34 after every single expense that goes into your pocket
0:02:38 ’cause that’s how I provide for my family.
0:02:40 I have 30 plus properties now
0:02:41 and so we literally live off of a real estate.
0:02:43 The next thing we do is build the business,
0:02:46 finding the right people to actually run the business for us
0:02:49 without us doing any work.
0:02:51 ‘Cause with all my properties,
0:02:52 I literally only work 30 minutes a month,
0:02:56 30 minutes a month for every single one of my properties
0:02:58 and other people do the work because I built the business.
0:03:01 Now, let me give you an example
0:03:02 of what building the business looks like.
0:03:03 If you’re gonna start a convenience store,
0:03:05 you’re not gonna just get a location,
0:03:07 open door, put a box of chocolate candy bars
0:03:09 in the center and hope to run a business.
0:03:12 That’s essentially what you’re doing
0:03:13 if you just buy a property anywhere
0:03:14 without building the business.
0:03:15 No, you’re not gonna do that.
0:03:17 You’re gonna get the gondolas,
0:03:18 which are the shelving units.
0:03:19 You’re gonna get the countertops.
0:03:21 You’re gonna get the fountain machines,
0:03:22 the cold storage, the cash registers, bank accounts.
0:03:25 Employees, you’re gonna build the entire infrastructure
0:03:29 before you put one piece of inventory into that business.
0:03:33 And when you’re doing that, you now have a solid business.
0:03:36 Every piece of property with my 30 plus properties now,
0:03:40 I literally view them as inventory.
0:03:43 It’s not a home for me to live in.
0:03:45 It’s a piece of inventory, just like a candy bar.
0:03:47 So once I have the business built,
0:03:49 every new property is like another box of candy bars
0:03:52 inside my business.
0:03:53 And I could just keep adding and adding
0:03:56 and adding into that business.
0:03:57 Does that make sense?
0:03:58 – Dustin went on to explain that your property manager
0:04:01 is the most important member of that team to have in place.
0:04:04 He called them your quarterback.
0:04:05 And other players on your team might include realtors,
0:04:08 contractors, wholesalers, bookkeepers, stuff like that.
0:04:11 But having those team members in place
0:04:13 to make a rental business more hands-off.
0:04:15 Now, the most important thing or the most powerful thing
0:04:18 that Dustin said in that interview
0:04:19 actually came at the very end of the call
0:04:21 and it was him describing getting laid off
0:04:23 from his government job.
0:04:25 The job he thought was super secure.
0:04:27 And in that moment, the identity shift
0:04:29 of becoming an investor first and an employee second.
0:04:33 Because he did have to go find another job.
0:04:35 He might’ve only had one or two properties at that point,
0:04:37 not enough to live on.
0:04:38 But he saw the path forward.
0:04:40 He saw the way out and it took another 10 years
0:04:42 to build that portfolio, to build up that cash flow.
0:04:45 But it started with that really low point
0:04:47 of getting laid off and shifting
0:04:49 that mindset to be I am an investor and my day job,
0:04:53 even though it’s bringing in the lion’s share
0:04:55 of my revenue right now, my day job is now my side hustle.
0:04:57 So that’s episode 387 in your archives to go check it out.
0:05:02 Now, the biggest drawback to real estate
0:05:03 is that obviously houses are expensive.
0:05:06 That’s why it might be worthwhile to take a look
0:05:07 at platforms like Arrived,
0:05:09 which make it easy to invest in income-generating properties
0:05:12 with as little as $100.
0:05:14 I’ve got a direct referral link for you
0:05:16 that I’ll add to the show notes if you wanna check it out.
0:05:18 The company pools money to go buy these properties.
0:05:22 It manages them and then distributes
0:05:24 the cash flow every month.
0:05:25 Income-generating asset number two is dividend stocks.
0:05:29 So dividends are a portion of the company’s profits
0:05:32 that they pay out to shareholders.
0:05:33 But not every company pays a dividend
0:05:35 and some pay more than others.
0:05:37 So one strategy is to buy shares in companies
0:05:39 with long histories of paying and increasing their dividends.
0:05:43 These include name brand businesses
0:05:46 like Target, Chevron, Coca-Cola, AT&T, Procter & Gamble.
0:05:49 These boring old companies aren’t likely
0:05:51 to have explosive share price growth,
0:05:53 but they do spin off consistent passive cash flow.
0:05:56 You can think of it this way,
0:05:57 like every time Coca-Cola sells a soda,
0:06:00 the shareholders are getting a portion of the profits
0:06:02 and they didn’t have to do any work for it.
0:06:04 Dividend investing was one thing that helped me get off
0:06:07 the sidelines as an investor
0:06:09 and really start to build my brokerage account.
0:06:11 And over the course of almost 10 years now,
0:06:13 it’s grown to over $2,000 a month in income.
0:06:16 And like a lot of things, it starts out slow,
0:06:18 but as you feed it and give it more time,
0:06:20 it starts to add up.
0:06:22 Income producing asset number three is bonds.
0:06:24 So where dividend stocks give you an ownership stake
0:06:27 in a company, bonds are like loans
0:06:29 that you give to a company or to the government.
0:06:31 And in return, they promise to pay back with interest.
0:06:34 Bonds are theoretically less volatile,
0:06:36 but they’re not particularly novel or exciting.
0:06:39 So we’re gonna keep moving on.
0:06:40 More income producing assets, including the one
0:06:42 that let me quit my job and the other one
0:06:44 that’s earned me over $80,000 right after this.
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0:07:53 This edition of The Side Hustle Show
0:07:55 is sponsored by Squarespace.
0:07:58 One of the biggest obstacles I hear
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0:09:04 All right, income producing asset number four is websites.
0:09:07 Now there is a lot to learn to turn a website
0:09:10 into an income generating asset,
0:09:12 but when it works, it can be extremely lucrative
0:09:14 and extremely time leverage.
0:09:16 For example, we’ve heard from Scott in episode 510
0:09:19 about his bird watching blog,
0:09:21 six figure business on a bird watching blog.
0:09:23 We’ve heard from Shelley Marmer earning 50 grand a month
0:09:25 from her travel blogs in episode 573
0:09:28 and we heard from Andrew Fiebert
0:09:30 with his $1.2 million gift ideas site in episode 537.
0:09:34 That was giftlab.co.
0:09:36 So these sites are monetized
0:09:37 with advertising affiliate partnerships and product sales.
0:09:41 And the cool part about that is all of those easily scale
0:09:45 as your traffic grows.
0:09:46 For example, here’s Shelley Marmer
0:09:48 from travelmexicosolo.com in episode 573.
0:09:52 – I do a lot of affiliate marketing
0:09:54 and I don’t care if it’s a 10 monthly search volume.
0:09:58 If I can rank number one in two days
0:10:00 and these are really high price tours
0:10:04 and I’m gonna make $500 commission
0:10:07 off of some of these tours.
0:10:08 I don’t care if it’s only 10 people searching.
0:10:10 So it’s kind of like I tell people
0:10:12 you have to kind of know what’s your goal?
0:10:14 Is your goal traffic or is your goal making money today?
0:10:18 So usually people say, yeah, usually it’s
0:10:21 I wanna make money today kind of thing.
0:10:23 So you run your numbers and I do have some tours
0:10:26 that are high ticket tours
0:10:29 and they will bring in a couple of hundred dollars
0:10:31 in commission for each one.
0:10:33 So that’s okay if there’s 10 people searching every month
0:10:35 and one of them buys that’s $500 off one article
0:10:39 for that month and it’s evergreen content like you mentioned.
0:10:43 So that’s month after month while I sleep.
0:10:44 So that’s totally fine with me.
0:10:46 – Andrew Fiebert from giftlab had a similar strategy.
0:10:49 He shared in episode 537
0:10:51 going after relatively low volume keywords
0:10:54 but with high buyer intent in almost no competition.
0:10:57 – Our thesis is to avoid competition at all costs.
0:11:02 Which is why we have a possum gifts
0:11:03 and dolphin lover gifts and stuff like that.
0:11:05 – We’re gonna take the time to write this article
0:11:07 that nobody else has and hopefully no one will.
0:11:11 – And nobody ever will because it’s so random.
0:11:13 – Okay, so the key word difficulty is the primary metric.
0:11:16 Was there a minimum search?
0:11:17 Like how many people are looking for gifts
0:11:19 for dolphin lovers?
0:11:20 – So in the beginning we would not do anything
0:11:22 that was less than a thousand volume
0:11:24 or anything higher than 10 keyword difficulty.
0:11:27 And then as we built, we realized that we’d be ranking safe.
0:11:31 And I don’t know the number specifically for dolphin lovers
0:11:33 but maybe it gets like 5, 6,000 visits a month
0:11:37 on a 1,000 a month term.
0:11:39 And we realized like the long tail
0:11:42 is actually so much bigger than the head term.
0:11:44 There was so many more keywords in search console
0:11:47 than even appeared in A.R.F.’s.
0:11:50 And so we kind of looked downward
0:11:52 because it’s like say 300 volume.
0:11:55 As we built the site, we learned that if it was very specific
0:11:58 like dolphin lovers or if it had number in it
0:12:01 with for an age like 13 year old boys, 6 year old girls,
0:12:05 the conversion rates were just insane.
0:12:08 And so we would eat almost any volume in those realms
0:12:12 given low difficulty.
0:12:15 – Now, if you wanna start a blog of your own
0:12:16 or a website of your own,
0:12:17 check out my free six part video course
0:12:19 on how to do just that quickly and affordably.
0:12:22 You can find that at side hustle website.com.
0:12:25 And I also wanna mention that building a site from scratch
0:12:28 is just one option.
0:12:29 You can go out and buy a site from a marketplace like Flippa.
0:12:33 We’ve heard from guests doing,
0:12:34 this is a leading marketplace to shop for websites
0:12:36 that are already producing income.
0:12:38 Of course, I would only recommend doing that
0:12:40 if you already have some operational know-how
0:12:42 and you can kind of see a path forward
0:12:44 to increasing the revenue there
0:12:46 or improving the traffic there.
0:12:47 But that brings me to the other point
0:12:49 in that websites can actually be sellable assets,
0:12:52 build something up over the course of a few years,
0:12:54 enjoy the cash flow it produces in the meantime,
0:12:57 and then sell it, take some chips off the table,
0:12:59 focus on another project in episode 426.
0:13:02 We covered the story of my virtual assistant website
0:13:05 where I did exactly that over the course of nine years.
0:13:09 In my case, actually slowly built it up.
0:13:11 This was like Yelp for outsourcing companies,
0:13:14 directory plus review platform,
0:13:16 banked a consistent few thousand dollars a month.
0:13:18 And once I kind of figured out what I was doing
0:13:20 and then sold it on to the next owner
0:13:22 where the total income, including the sales price
0:13:25 for this part-time project was over half a million dollars.
0:13:29 So websites has an income producing asset.
0:13:32 And even before that, it was a side hustle website,
0:13:34 a comparison shopping site for shoes in my case
0:13:37 that let me quit my job.
0:13:38 It was three years, nights and weekends,
0:13:40 let me build this up and then call it quits at the day job.
0:13:43 But income producing assets is a powerful stuff.
0:13:45 Remember the formula, when income from assets you own
0:13:48 or control exceeds your monthly expenses, you’re free.
0:13:51 And I feel like getting to that point
0:13:53 should be everybody’s priority.
0:13:54 All right, asset number five is equipment and vehicles.
0:13:58 Now under this category are things that you can buy once
0:14:00 and rent out over and over again.
0:14:03 For example, we’ve done episodes on photo booths,
0:14:05 on portable hot tubs, on mobility scooters,
0:14:08 even people renting out their cars.
0:14:10 One of the fun recent examples was from Lenny Tim in LA
0:14:14 who was earning around $3,000 a month,
0:14:16 renting mobility scooters and wheelchairs.
0:14:19 He had these priced around $75 a day.
0:14:22 So the breakeven window was pretty quick.
0:14:24 A brand new one is about 1,500 bucks right now,
0:14:28 a little less, a little more, but I actually bought mine used.
0:14:32 And I look for about 500 bucks.
0:14:35 I go on Facebook marketplace or any other local marketplace
0:14:38 and I’m looking to get it for about 500 bucks.
0:14:41 So as you can see, I pretty much count my money back
0:14:45 within one, two, three rentals.
0:14:48 – Yeah, I’m thinking you have, if it’s 250 a week
0:14:50 plus 75 delivery, like a couple of weeks later,
0:14:52 I’m in the black on this unit.
0:14:54 How many do you have at this point?
0:14:55 – Right now I only have seven.
0:14:57 – You say only?
0:14:58 I mean, that’s a pretty serious fleet.
0:15:01 – Yeah, it’s not bad.
0:15:02 I have seven right now and I make it work.
0:15:05 I could definitely have a lot more,
0:15:06 but I just keep it completely aside business.
0:15:10 The other thing that Lenny did that I thought was interesting
0:15:12 was to validate demand before ever plunking down
0:15:15 for that first scooter.
0:15:16 He put up the website and waited and waited,
0:15:20 I wanna say years until he was getting a consistent stream
0:15:23 of booking requests.
0:15:25 Now you probably don’t need to wait that long,
0:15:26 but he was minimizing his risk by validating it first.
0:15:30 You know, he’d get enough calls coming in
0:15:32 or enough requests coming in over email to say,
0:15:34 okay, I think there is something here
0:15:36 and I’m ready to go out and give this an actual go
0:15:39 in the real world.
0:15:40 So I would definitely make it a low risk investment.
0:15:42 So that’s episode five, 64 in your archives
0:15:45 to go check it out, renting out mobility scooters
0:15:47 as an equipment rental business.
0:15:49 And there are marketplaces that specialize
0:15:51 in renting out cars, RVs, camera gear, boats, pools,
0:15:55 baby gear, lots more.
0:15:57 Rich Dad, Poor Dad talks about the importance
0:15:59 of spending your money on assets instead of liabilities.
0:16:02 And I don’t know that anyone intentionally seeks out to,
0:16:05 you know, just blow their money on a bunch of liabilities
0:16:07 like lighting it on fire.
0:16:09 We buy stuff that we think makes our lives better
0:16:11 in some meaningful way.
0:16:12 But I think the important reframe here is,
0:16:15 how can you buy stuff that can spin off cash consistently?
0:16:18 Not just banking on some speculative future appreciation
0:16:22 in this type of physical product rental business
0:16:24 is one example of that.
0:16:26 So that’s income producing asset.
0:16:28 Number five, equipment and stuff like that.
0:16:30 Number six on this list is digital products.
0:16:33 It could be a book, it could be an online course.
0:16:35 It could even be something as simple as a printable file,
0:16:38 a spreadsheet or a checklist.
0:16:39 And what I love about these income generating assets
0:16:42 is you can create it once and sell it over and over again.
0:16:45 Here’s how Emily McDermott described
0:16:47 her downloadable spreadsheet business
0:16:50 on Etsy in episode 560.
0:16:52 – I realize, wow, I’m onto something here
0:16:55 in this keyword research thing is really working.
0:16:58 So I continue to use it to identify other spreadsheets
0:17:02 within my niche and that would serve my target audience.
0:17:06 So for example, I made a debt payoff calculator.
0:17:10 I had a monthly budget spreadsheet,
0:17:12 a budget by paycheck spreadsheet.
0:17:14 And all of these terms were long tail keywords
0:17:17 and they were picking up traction really quickly on Etsy,
0:17:20 which was excellent.
0:17:22 But where my business really took off
0:17:24 into six figure territory was when I decided to bundle
0:17:29 a variety of these products into one higher priced product
0:17:34 that gave the customer an overall discount.
0:17:36 So they were saving money.
0:17:38 But because I had to find my target audience,
0:17:41 I knew what they wanted.
0:17:42 I had a good idea of what they wanted.
0:17:44 And I knew they’d be a person who was looking
0:17:47 to make a monthly budget.
0:17:48 They were looking to pay off their debt
0:17:50 and they were probably looking to organize their bills.
0:17:53 And if I could just take all of those existing templates,
0:17:57 plop them all together into one Google Sheets file,
0:17:59 sell it for a higher price,
0:18:01 which at the time was around $20 a file.
0:18:04 That is where my business really took off.
0:18:08 – Okay, so people kind of recognize the value
0:18:11 of why probably gonna want all five or six
0:18:13 of these different things individually.
0:18:15 So I’ll just get the higher priced things.
0:18:17 You increase your average customer value in that point.
0:18:21 – Exactly.
0:18:22 And I think a lot of times people get intimidated
0:18:23 and they think, well, I could never sell a spreadsheet.
0:18:27 I’m not good enough at it.
0:18:27 Or I could never sell a 20, 30, $40 spreadsheet
0:18:31 because I just don’t have the advanced skills.
0:18:34 But it’s really not about the advanced level of your skills.
0:18:38 It’s about solving a pain point
0:18:40 that a customer is experiencing.
0:18:42 And it’s also about offering them a complete transformation.
0:18:47 Because at the end of the day,
0:18:48 that’s what people are buying
0:18:50 with any digital product is a transformation.
0:18:52 They wanna go from point A to point B.
0:18:55 And I can also almost guarantee you
0:18:58 that they don’t wanna look at something
0:18:59 all that complicated either.
0:19:01 They wanna see an easy solution
0:19:03 that they can easily use too.
0:19:05 – I love me a digital product side hustle
0:19:07 and love Emily’s call to solve a pain point
0:19:10 and offer a transformation.
0:19:12 Lots of digital product examples in the archives,
0:19:14 including that episode with Emily, which is number 560.
0:19:18 We had Becky Beach on last year talking about
0:19:21 how she would prompt chat GPT for digital product ideas
0:19:24 in her niche and then continue to use the tool
0:19:27 to help build it out, adding in her own input and insight
0:19:30 along the way to accelerate the content creation process.
0:19:33 I built a few online courses over the years
0:19:35 plus some digital workbooks that make
0:19:37 pretty consistent sales.
0:19:38 Actually, one of my first successes
0:19:40 in selling digital products
0:19:42 was putting a couple of eBooks for sale on Fiverr
0:19:45 before the platform made really the full transition
0:19:48 to being a freelance marketplace.
0:19:50 And that was a fun way to get started.
0:19:51 And in the case of spreadsheets or workbooks,
0:19:55 you may already have the foundation
0:19:56 for that product on your hard drive.
0:19:58 Maybe it’s something that you’re using for work.
0:20:00 Maybe it’s something that you’re using in your personal life.
0:20:02 You know, maybe you could polish it up
0:20:04 and put it out there for sale.
0:20:05 So probably not on Fiverr anymore, but definitely Etsy.
0:20:08 Maybe teachers pay teachers.
0:20:09 Maybe it turns into a course for you to me.
0:20:12 Lots of different options.
0:20:13 And one rule to keep in mind
0:20:15 is like Emily said, think of that customer transformation.
0:20:18 How are they gonna be or feel different
0:20:20 after buying your product?
0:20:22 Hey, order my XYZ spreadsheet template
0:20:25 so that fill in the blank.
0:20:27 I know that is something I can probably do a better job
0:20:29 of communicating for my own products,
0:20:31 but it’s something to keep in mind.
0:20:33 So that was number six, digital products.
0:20:35 Number seven is royalties.
0:20:37 Royalties is another common income stream among millionaires.
0:20:40 And look, you don’t have to be Taylor Swift to earn them.
0:20:42 How this income generating asset works
0:20:44 is you earn a small amount
0:20:46 every time your work is used or purchased.
0:20:48 For example, I have self-published several books now
0:20:51 and earn author royalties every month from Amazon.
0:20:54 Over $80,000 in total since 2011.
0:20:57 Definitely adds up, creates something once,
0:20:59 get paid for it over and over again.
0:21:01 I remember still my first royalty direct deposit
0:21:04 for $42.47 or something back in 2011.
0:21:09 And just having this moment of,
0:21:12 this is the coolest thing in the world.
0:21:13 Like I put my thing up for sale on the world’s largest store
0:21:18 and somebody bought it.
0:21:19 Like this moment of being like a professional author.
0:21:21 Obviously not enough to live on,
0:21:23 but it was something and it has continued
0:21:25 to pay royalties or quote unquote dividends ever since.
0:21:28 So I’m really excited about that.
0:21:29 One of my favorite side hustles.
0:21:31 Now another way to earn royalties
0:21:33 is through product licensing.
0:21:35 In this model, you sell your product idea
0:21:38 to a larger company in exchange for a percentage
0:21:41 of future sales.
0:21:42 For example, Nate Dallas and his brother licensed
0:21:45 this card game inspired by Pictionary to Mattel.
0:21:50 And the duo, they didn’t have to design it.
0:21:51 They didn’t have to produce it.
0:21:52 They didn’t have to sell it.
0:21:53 But they found somebody else who could,
0:21:55 Mattel in this case, in the split
0:21:57 and eventual $300,000 in royalties
0:22:00 over the course of 10 years.
0:22:02 And here’s Stephen Key from Invent Right
0:22:04 explaining the basics.
0:22:05 – It doesn’t require any capital.
0:22:07 You don’t have to set up a company.
0:22:09 And there’s so many companies out there
0:22:12 that need us creator people.
0:22:14 So they’re looking for ideas.
0:22:15 And every year, there’s just more and more opportunity
0:22:18 for us to submit ideas to companies
0:22:20 and let them pay us royalties for everyone they sell.
0:22:23 – So that’s the basic business model is saying,
0:22:25 hey, I am the idea guy who we just had on the show.
0:22:29 And I’m going to turn around and essentially sell
0:22:32 that intellectual property to some company
0:22:34 who can turn that into a product to make money off it.
0:22:36 – Absolutely.
0:22:37 You’re basically renting your idea to a company.
0:22:39 – Okay.
0:22:40 – And they’re going to pay you and everyone they sell.
0:22:43 So you don’t have to start a company.
0:22:45 You don’t have to worry about manufacturing
0:22:46 or raising money or do any of those things.
0:22:49 And what’s really great about it, Nick,
0:22:50 it’s really speed to market today, right?
0:22:53 If you start a company, raise capital,
0:22:55 all those types of things that you need to do
0:22:56 to be successful, it takes a lot of time and effort.
0:22:59 When you license an idea,
0:23:01 you find that perfect partner
0:23:03 that has relationships, distribution, money.
0:23:06 They can put your product on a shelf extremely quick.
0:23:08 – Stephen went on to explain that 5% of gross sales
0:23:11 is a pretty typical product licensing agreement,
0:23:14 which may not seem like a lot,
0:23:16 but if you think about the distribution
0:23:18 and economies of scale that some of these larger brands have,
0:23:21 it can really add up,
0:23:22 especially for something with super low startup costs.
0:23:25 I mean, you’re basically taking something for free
0:23:27 from your brain and getting paid for it.
0:23:30 And Stephen had some great tips
0:23:31 on how to approach companies with your ideas.
0:23:34 But one thing that was surprising to me
0:23:35 is that a lot of companies already have a process for this.
0:23:38 They’re really open to crowdsourcing product ideas
0:23:41 from people like you and me and paying us for them.
0:23:44 I was curious, like,
0:23:45 well, let’s just stop them from just taking your idea
0:23:47 and cutting you out.
0:23:47 It’s like, no, no, no.
0:23:48 This is a well-defined process
0:23:50 that people have been doing for generations.
0:23:52 For example, if you look up Hasbro Submit Ideas,
0:23:54 you’ll find a structured program called Hasbro Spark
0:23:58 that lays out how it all works
0:23:59 and how to submit your proposal to the company.
0:24:01 So be sure to check out that full episode
0:24:03 with Stephen for more on how it all works,
0:24:05 which I’ll link up in the show notes.
0:24:07 And of course, books and product ideas
0:24:09 aren’t the only things you can license,
0:24:11 you can license pictures or photography.
0:24:13 You can license music.
0:24:14 Like we had Kathy Heller on the show years ago.
0:24:16 She’s like, hey, I moved to LA.
0:24:17 I wanted to be a rock star.
0:24:18 I found some commercial success
0:24:20 in almost reverse engineering.
0:24:22 What songs people wanted to hear?
0:24:24 Oh, they want something bouncy and upbeat.
0:24:26 Dude, I can create that kind of jingle
0:24:28 and she did really well with that.
0:24:30 You can get licensed or earn royalties for voiceover work
0:24:33 where not only can you get paid upfront
0:24:35 as like almost a freelance basis,
0:24:36 but you can also earn licensing rights
0:24:38 when your work is used.
0:24:40 And you can even buy future royalty rights
0:24:42 on sites like royalty exchange.
0:24:45 I’ve got more income producing assets,
0:24:47 including some super, super easy ones right after this.
0:24:50 I never thought I’d say this,
0:24:51 but another spreadsheet of mine has bit the dust.
0:24:54 It was my net worth and investment tracking spreadsheet
0:24:57 where I would dutifully log into
0:24:59 a dozen different accounts every month
0:25:00 to update it and see where we were at as a family.
0:25:03 And you know what killed it?
0:25:04 It was our sponsor, Monarch.
0:25:06 Monarch is the top rated all in one personal finance app.
0:25:09 It gives you a comprehensive view of all your accounts,
0:25:11 investments, transactions, and more,
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0:25:19 And now, Side Hustle Show listeners
0:25:20 get an extended 30 day free trial
0:25:22 when you go to monarchmoney.com/hustle.
0:25:25 So on top of saving me a bunch of time every month
0:25:27 from logging into all those different accounts
0:25:29 and copying in the numbers,
0:25:31 the interface is way better and way more intuitive
0:25:34 than my old spreadsheet ever was or ever could be.
0:25:36 I love being able to customize my Monarch dashboard
0:25:39 to highlight the stuff that’s most important to me,
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0:25:46 for transactions and notifications.
0:25:48 And finally, unlike other personal finance apps,
0:25:50 Monarch doesn’t sell your data.
0:25:52 So after trying out Monarch for myself,
0:25:54 I understand why it’s the top rated personal finance app.
0:25:57 And right now, Side Hustle Show listeners
0:25:58 get an extended 30 day free trial
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0:26:04 That’s M-O-N-A-R-C-H-M-O-N-E-Y.com/hustle
0:26:09 for your extended 30 day free trial.
0:26:14 Did you know that roughly half of Side Hustle Nation
0:26:16 hasn’t started their Side Hustle yet?
0:26:18 If that’s you, I get it.
0:26:19 Starting and building a business is tough.
0:26:22 It takes more than just an idea.
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0:27:22 Income producing asset number eight is vending machines.
0:27:25 Definitely a hot Side Hustle topic these days.
0:27:27 Now you’re gonna pay upfront for the machine
0:27:29 and the inventory, but they can make sales 24/7
0:27:33 without you even being around.
0:27:34 If you find a good location,
0:27:36 they can easily generate $500 plus in profit per month.
0:27:40 And the other cool thing about the vending machine business
0:27:42 is a slow risk, right?
0:27:43 If one location isn’t working,
0:27:45 just pick up, you pack up your machine
0:27:46 and try somewhere else.
0:27:48 Something that would be much more expensive
0:27:50 if it were a brick and mortar store.
0:27:52 Now here’s my chat, here’s part of my chat
0:27:54 with Mike Hoffman from episode 599
0:27:57 on how he got started as a vendingpreneur.
0:27:59 So you get your first yes from this apartment building,
0:28:02 this athlete or student apartment building,
0:28:04 and then you start looking around,
0:28:05 “Well, how am I gonna get a machine?”
0:28:06 Walk me through what happens after that.
0:28:08 – I literally Google vending machines.
0:28:10 You kind of got two routes here.
0:28:12 You got the, you go down the used path,
0:28:14 look on places like Marketplace and Craigslist
0:28:16 and even local refurbish type places
0:28:19 like appliance type places.
0:28:21 And then you got these new places.
0:28:22 And the best analogy I would use
0:28:24 is a new vending machine manufacturer
0:28:27 is very similar to a car dealership.
0:28:28 So I called them up, they’re like,
0:28:30 “All right, Mike, the machine you want,
0:28:31 “it’s gonna be about $5,500.
0:28:34 “Do you want to pay for it up front
0:28:36 “or do you wanna finance it with zero money down?”
0:28:38 And I was like, “Okay, tell me about your financing options.”
0:28:40 Like, “Oh, we can do it over 60 months.
0:28:42 “You can use profits to pay them off early.”
0:28:45 And every single one now I’ve financed with zero money down
0:28:49 and I typically have them paid off in the first year,
0:28:52 just with profits.
0:28:54 – Okay, and that’s like the real estate mindset
0:28:56 of leveraging other people’s capital
0:28:59 versus coming up with 100% down payment.
0:29:01 – Yeah, and this is back to the like,
0:29:03 when I bought that 100 grand house,
0:29:05 I had to put 20% down and that just wasn’t sustainable
0:29:08 every single rental.
0:29:10 So this is where with vending,
0:29:11 I just bought 18 grand worth of vending machines
0:29:13 I think in October and I didn’t put a dollar down.
0:29:16 – And the benefit there is that you got something brand new
0:29:18 ’cause I’m on Facebook Marketplace,
0:29:20 of course like, “Well, shoot, what’s available at the rate?”
0:29:22 From the $500 to $1,000 range,
0:29:25 it looks like for some drink machines.
0:29:28 Okay, a little bit more than that
0:29:29 for like the combo machines or the snack machines.
0:29:31 I don’t know how old they are.
0:29:32 I don’t know if they have card readers,
0:29:34 but there’s options if you want to minimize
0:29:36 the upfront sticker price of these things too.
0:29:39 – There’s definitely options.
0:29:40 I got my first machine used
0:29:42 and then it broke after six months.
0:29:43 And I was like, “I never want to do that again.
0:29:46 I don’t want to be a machine mechanic, none of that stuff.
0:29:49 I just want the singer on it.”
0:29:50 I never have an issue because mine are under warranty.
0:29:53 I just FaceTime them when I’m at the machine.
0:29:55 They do their little troubleshooting thing.
0:29:57 If there’s any issues, they just overnight me apart.
0:29:59 And like I said, I don’t want to be the mechanic.
0:30:02 – Yeah, that becomes a little bit less passive
0:30:04 at that point. – Yeah, exactly.
0:30:05 – So walk me through the math here.
0:30:07 So new machine, $5,500.
0:30:09 You’re financing that over a period of several years.
0:30:12 What’s the typical payment?
0:30:14 – Typical payment is right now with interest rates
0:30:16 are around 170 bucks a month.
0:30:19 Your first payment isn’t due until 90 days
0:30:21 after it’s installed on site.
0:30:23 So you’re going to do 90 days of revenue
0:30:25 before your first $170 payments due.
0:30:29 And then it’s $170 a month, typically,
0:30:31 and that’s just based on today’s rates of,
0:30:33 let’s just say, eight to nine percent.
0:30:35 I don’t know. – Sure, sure.
0:30:37 – Yeah, four years ago that my payments are $112.
0:30:40 So they’re definitely a little variable there.
0:30:42 And then, yeah, you can just use profits to pay those off.
0:30:46 Of those machines I just used as an example
0:30:48 that are 170 bucks a month.
0:30:50 I mean, we had one in January that just did over $1,500.
0:30:55 – Okay, $15 of revenue minus your cost of product.
0:30:58 You aim for a, what, like a 3X markup?
0:31:00 Like stuff and vending machines, not cheap.
0:31:02 – Exactly. – If you pay for the convenience.
0:31:03 – Yep, yep.
0:31:04 So typically we’ll be around 35, 40%.
0:31:08 So let’s just shoot high on expenses.
0:31:10 Let’s say 40% of 1,500 bucks.
0:31:12 So what’s that, $650, $700 in cost of goods?
0:31:16 – Okay, so we’ll call it 800 in profit
0:31:19 on that $1,500 a month.
0:31:21 – Yep. – Okay.
0:31:22 – Yeah, minus your $170 in payment
0:31:24 and you’re still in the black pretty healthily
0:31:26 and you pay it off faster if you don’t like an interest
0:31:28 and you can parlay that into the next machine,
0:31:31 next location.
0:31:32 Okay, so you start to see how this can work out
0:31:35 and you have so far minimized your overhead.
0:31:38 Definitely recommend checking out that full episode
0:31:40 if you missed it, episode 599.
0:31:43 That is income producing asset number eight.
0:31:46 Vending machines, yeah, you gotta restock the machines,
0:31:48 but if you do, that just means you’re making sales.
0:31:51 Income producing asset number nine is small businesses.
0:31:54 So we’ve already covered how you can buy a share
0:31:57 of a profitable business through dividend investing,
0:32:00 but that only works for big public companies.
0:32:03 Another way to generate income
0:32:04 is to buy smaller businesses near you.
0:32:07 For example, Hannah Ingram bought the self-service
0:32:10 car wash in Tennessee, episode 571, super inspiring story.
0:32:14 And even better than that,
0:32:15 she negotiated a seller financing deal
0:32:17 so she was able to close with no money down
0:32:20 and she paid it off with the cash flow from the business.
0:32:23 Now, after taking ownership,
0:32:24 she set out to improve the operation.
0:32:26 And when we recorded, it was earning around $5,000 a month
0:32:30 in exchange for about 30 minutes of work a day.
0:32:33 Now, she mentioned BizbuyCell, Loopnet and Crexy, C-R-E-X-I
0:32:38 as a potential places to go shopping for businesses
0:32:41 or you just drive around your town
0:32:43 and see what you might be able to find.
0:32:45 And with SBA financing,
0:32:46 if you don’t do the seller financing route,
0:32:48 you might be able to acquire the business
0:32:50 with as little as 10% down.
0:32:52 Another example was Johnno Santa Maria
0:32:55 buying his Laundromat in Melbourne, Australia.
0:32:58 In his case, the business was virtually invisible online.
0:33:03 So he applied a little bit of digital marketing savvy
0:33:06 to get it listed in Google, drive more customers.
0:33:08 He added credit card machines
0:33:10 and made some other improvements
0:33:11 and ended up tripling the revenue
0:33:13 in the first year of ownership.
0:33:15 But the cool thing about the business asset class
0:33:17 is not only did you triple the revenue
0:33:19 but you also tripled what the business is worth
0:33:21 if you were to turn around and sell it.
0:33:23 So those are the kind of assets
0:33:25 I think you wanna be on the lookout for,
0:33:27 ones where there may be some quick wins
0:33:30 to accelerate that payback period,
0:33:32 where the business, you know,
0:33:34 it’s fairly valued based on its past performance,
0:33:36 but you’re reasonably confident
0:33:38 that you can make a few tweaks
0:33:39 to make it much more valuable
0:33:41 and potentially lower risk here
0:33:43 because somebody else has already gone through
0:33:45 the startup phase, the risky part, the zero to one.
0:33:48 The business has already been validated.
0:33:49 So you’re essentially buying an income stream
0:33:52 that already exists or in Hannah’s case,
0:33:55 inserting herself into a cash flow
0:33:58 that was already flowing
0:33:59 and doing it in a creative, low risk way.
0:34:01 Income producing asset number 10 is video content.
0:34:04 I think this is one of the most accessible ones on this list
0:34:07 because anybody with a smartphone
0:34:09 can begin creating videos that ultimately make money.
0:34:12 If you’ve got over a thousand subscribers
0:34:14 and meet a couple other watch time requirements
0:34:16 on your YouTube channel, you can enable ads
0:34:18 and you can start to get paid.
0:34:20 Lately for me, this passive income stream
0:34:22 has been around $400 a month and I say passive
0:34:25 because yes, it takes time to create the videos,
0:34:28 but once they’re uploaded,
0:34:29 they can earn that passive income for years
0:34:31 like some of mine have.
0:34:32 And I was just looking at this
0:34:33 as my top 10 YouTube earning videos for the last month.
0:34:38 Only three of those were even uploaded
0:34:40 in the last 12 months.
0:34:41 So they have a long shelf life
0:34:43 and overall a lot of these videos
0:34:45 have earned hundreds of dollars individually,
0:34:47 not life changing, but it adds up, right?
0:34:50 You’re putting in the reps.
0:34:51 We’ve talked about YouTube videos
0:34:52 as examples of planting these money seeds
0:34:55 where you create it once, you put it out into the world
0:34:58 and it becomes this mini digital asset
0:35:00 with potentially a long lifespan
0:35:02 depending on what topic it’s on.
0:35:04 Another unique video-based side hustle
0:35:06 is reviewing products
0:35:07 as part of the Amazon influencer program.
0:35:10 In this program, you create short video product reviews
0:35:13 of items that are sold on Amazon.
0:35:15 Amazon puts your videos on the relevant product pages
0:35:19 and when somebody watches your video
0:35:21 and goes on to buy the product,
0:35:23 Amazon says, “Thank you.
0:35:24 “Hey, thanks for helping us close that sale.
0:35:25 “We’ll give you a small commission for that.”
0:35:27 After you upload,
0:35:29 these videos become income producing assets for you.
0:35:31 It’s totally hands off.
0:35:32 You don’t have to drive any outside traffic.
0:35:34 For example, John Chorus and Tyler Christensen
0:35:37 reported earning up to $2,000 a month
0:35:39 doing this part-time
0:35:40 after just a few months of uploading videos
0:35:42 and you can start with what you already have in your home.
0:35:45 – The first thing I did was, of course,
0:35:47 starting with all the products in your home.
0:35:49 So I actually went through my entire buying history on Amazon
0:35:53 and exported everything I bought as an Excel sheet
0:35:55 and just cranked them out.
0:35:57 That was about maybe 200 products or so.
0:35:59 I thought it’d be more, but I mean,
0:36:01 200 products at least get started with.
0:36:03 – Yeah, I mean, this still has a ton, yeah.
0:36:05 – I then went to close family friends
0:36:07 and actually asked him,
0:36:08 “Okay, I’m starting this news business.
0:36:10 Would you mind supporting me?
0:36:11 I’ll take you out for dinner.
0:36:12 If I can just review some products
0:36:14 which are in your household.”
0:36:15 But that’s not me scuffling through their home,
0:36:17 trying to look for everything on Amazon.
0:36:18 They would actually be out in display.
0:36:21 Yeah, let me make a review on it
0:36:22 and I would just treat them out for helping me out.
0:36:25 And that was a good 100 products or so I was able to do.
0:36:28 – Okay, for me, so I started similar to John.
0:36:31 I exported my shopping history
0:36:33 and I’m a little older than you guys
0:36:35 and have four children.
0:36:36 So my history was like 800 products
0:36:38 and most of them aren’t currently up on Amazon.
0:36:42 And so I found that I was really spinning my wheels
0:36:44 trying to find those products
0:36:46 or find that they were still being sold on Amazon.
0:36:49 So it was easier for me to just go around the house
0:36:52 and just pick a room at a time, do everything in the room.
0:36:54 And even if you don’t buy it on Amazon,
0:36:56 if it has an Amazon listing, you can post a video for it.
0:36:59 So if I bought it at Walmart or somewhere else,
0:37:02 but it’s listed, I would make those videos.
0:37:04 So we just made the rounds
0:37:05 and I don’t think I’m gonna run out of stuff anytime soon.
0:37:08 I have a little over 300 videos.
0:37:10 I think I could do another 300 without breaking a sweat.
0:37:13 – For the Amazon influencer program,
0:37:15 it is something you have to apply for.
0:37:17 You do need to have some level of social media following
0:37:19 to qualify.
0:37:21 They don’t tell you exactly how many followers that is,
0:37:23 but you don’t need millions.
0:37:25 You don’t have to be this huge influencer to get accepted,
0:37:27 but this is exactly how I started,
0:37:29 what Tyler’s describing.
0:37:30 Look around the office.
0:37:31 Hey, I’ve got this microphone arm, this standing desk,
0:37:34 the standing desk mat, the ring light
0:37:37 and the teleprompter and the podcasting headphones,
0:37:40 all sorts of stuff.
0:37:41 And it’s like, shoot, I’m gonna go through,
0:37:42 create these little videos one to two minutes each
0:37:44 and start to earn some commissions.
0:37:46 I was surprised.
0:37:47 Like my first $9 came almost immediately
0:37:50 within a few days of uploading these videos.
0:37:51 And this is like mind blown.
0:37:53 This is the easiest money that I’ve ever made online.
0:37:56 And I wanna give some additional context here
0:37:58 on the videos as income generating assets argument
0:38:01 because I have uploaded zero videos
0:38:03 to the Amazon Influencer Program so far this year
0:38:06 and have still earned over $400 in commission so far.
0:38:09 So imagine what might happen if you actually took it
0:38:12 seriously and were consistent with creating content
0:38:14 and being dedicated and diligent about creating more videos,
0:38:17 something that I should probably go and do.
0:38:19 But make sure to check out our full episode
0:38:20 on the Amazon Influencer Program,
0:38:22 episode 562 in your podcast feed to learn more about that one.
0:38:27 That’s income generating asset number 10,
0:38:29 the Amazon Influencer Program.
0:38:31 Number 11 is billboards.
0:38:33 So we just heard from Chris Brown in episode 608
0:38:37 earlier this month on how he was able to retire early
0:38:40 from the cash flow from his portfolio
0:38:43 of Bentonville, Arkansas billboards.
0:38:46 Each one can earn up to thousands of dollars a month
0:38:49 depending on the location.
0:38:50 Really interesting episode that 100% made me wanna go out
0:38:55 and find a billboard.
0:38:56 So that’s number 11.
0:38:57 Number 12 is cash.
0:38:59 And it might sound a little weird,
0:39:01 but the cash in your wallet, in your bank account
0:39:03 can actually be an income producing asset on its own.
0:39:07 This works by putting it into a high yield savings account
0:39:09 or certificate of deposit and earning interest on your money.
0:39:12 Of course, interest rates fluctuate all the time,
0:39:15 but a low risk way to generate some extra income.
0:39:18 Number 13 on this list is your smartphone.
0:39:21 And I think this one is overlooked,
0:39:23 but there are dozens of apps that pay you real money
0:39:26 for sharing your data usage, your location,
0:39:29 and other habits.
0:39:31 One of my newest finds is called Kaden,
0:39:33 which I think is iOS only at the time of this recording,
0:39:36 but it earns over $10 a month on autopilot
0:39:40 just by sharing some data, connecting a few accounts.
0:39:43 Mobile expression is one that’s been around forever.
0:39:46 It’s like a market research panel
0:39:47 that kind of runs in the background,
0:39:49 pays you for data from your mobile phone,
0:39:51 probably worth 20 bucks a year.
0:39:53 They give you a free $5 gift card after your first week.
0:39:56 Another one is Pogo.
0:39:57 I’ll link up all of these,
0:39:59 but you share your location,
0:40:00 you can share your credit card transaction data
0:40:02 with Pogo, you earn points that you cash out
0:40:04 to PayPal, Venmo, give cards,
0:40:07 maybe 10, 20 bucks a year worth of income from Pogo,
0:40:10 but you’re thinking of your phone as not just an expense,
0:40:13 but an income generating asset.
0:40:14 I’ll link up a few of those apps in the show notes.
0:40:17 And finally, number 14 on this list is your credit card.
0:40:20 And the reason this makes the list
0:40:22 is you pay the same price at most places,
0:40:24 whether you pay with cash or a credit card.
0:40:26 So you might as well get one to 5% cash back
0:40:29 in the form of credit card rewards.
0:40:31 According to Yahoo Finance,
0:40:32 the average American spends over $1,500 a month
0:40:35 on their credit card.
0:40:37 So even if you’re just getting 1% cash back,
0:40:39 that’s worth an extra $180 a year,
0:40:41 just for spending like you normally would.
0:40:43 And that doesn’t even take into consideration
0:40:45 your opportunity to open one to two new accounts a year
0:40:48 and claim $150 to $1,000 plus in credit card signup bonuses.
0:40:54 So I will link up the best cash back cards available today
0:40:57 in the show notes for this episode.
0:40:59 Hopefully this list got your gears turning
0:41:01 on different income producing assets that you could build
0:41:04 or buy to start a new revenue stream,
0:41:06 to start to erase some of your expenses
0:41:09 with time leveraged income.
0:41:11 To recap, we talked about real estate, dividend stocks,
0:41:14 bonds, websites monetized with advertising,
0:41:17 affiliate relationships, your own products and services.
0:41:20 We talked about equipment and vehicles
0:41:21 with the example of Lenny Tim
0:41:23 and his mobility scooter rental.
0:41:25 We talked about digital products,
0:41:26 whether that was online courses,
0:41:28 whether that was spreadsheet templates,
0:41:30 whether that was printable products.
0:41:32 We talked about earning royalties,
0:41:33 in my case, over $80,000 from self-published book royalties
0:41:37 over the course of more than a decade at this point.
0:41:40 We talked about vending machines with Mike Hoffman,
0:41:42 really interesting side hustle right now.
0:41:44 We talked about buying small businesses,
0:41:46 inserting yourself into a cash flow that’s already flowing,
0:41:49 just stepping in front of something,
0:41:50 having let somebody else do the risky part,
0:41:53 the zero to one startup phase.
0:41:54 And I’m gonna come in and hopefully operate this
0:41:57 a little bit better, smarter, faster, cheaper,
0:42:00 applying whatever expertise that you have
0:42:02 on there to improve the payback period on that.
0:42:04 We talked about video content,
0:42:05 both in the form of YouTube
0:42:07 and the Amazon influencer program,
0:42:09 a couple passive income streams for me on the video side.
0:42:12 We talked about billboards,
0:42:13 really interesting recent episode, which we’ll link up.
0:42:16 And then finally, we talked about cash, your smartphone,
0:42:18 and then your credit card in your wallet
0:42:20 to earn some cash back and cash back bonuses
0:42:23 in the form of new card openings
0:42:25 or new card sign up bonuses.
0:42:27 And you gotta think, why is this stuff important?
0:42:28 Well, it’s important because once income
0:42:31 from assets you control exceeds your monthly expenses,
0:42:34 you’re financially free.
0:42:35 If you ever played the cash flow board game,
0:42:37 like this is where you have escaped the rat race.
0:42:39 It’s a really, really powerful moment,
0:42:41 really, really important stuff.
0:42:42 So hopefully you can use one or more
0:42:44 of these income producing assets to help get you there.
0:42:47 Now, lots of archive episodes mentioned in this one.
0:42:51 Make sure to check those out if you missed them.
0:42:53 As always, I’ll have all the resources mentioned,
0:42:56 linked up in the show notes for you.
0:42:57 All you gotta do is follow the link
0:42:58 in the episode description
0:43:00 and you’ll get right over there.
0:43:02 That’s it for me.
0:43:02 Thank you so much for tuning in.
0:43:04 If you’re finding value in the show,
0:43:06 the greatest compliment is to share it with a friend.
0:43:08 So fire off that text message.
0:43:10 Let them know they should check out this episode.
0:43:11 Until next time, let’s go out there
0:43:13 and make something happen
0:43:14 and I’ll catch you in the next edition
0:43:16 of The Side Hustle Show, hustle on.