Welcome back to the 2040 Vision with Helena and Jason! In this episode, we dive into Side Hustles & Passion Projects: Turning Ideas into Income. We follow up on our previous financial discussion, explaining why we're holding off on debt and investing topics for a future guest to ensure we provide a truly Canadian perspective.
Before we get into it, find out about the funny story behind the recent viral "current partner" TikTok trend that actually started on our podcast!
Then, we explore the world of side hustles, distinguishing between income-generating projects and hobbies or passion projects. We share our experiences and insights on balancing these extra ventures with a full-time job, discuss practical examples like flipping items from yard sales or creating digital products like recipe books and planners, and highlight the importance of starting with low costs.We talk about learning from failures, doing your research, and setting expectations – there's no such thing as a get-rich-quick scheme, and consistency is key.
We also touch on important considerations like tax implications and ask a crucial question: are you running to your dream or from your job?
We recommend checking out the book 'The $100 Startup' by @ChrisGuillebeau. Described as a great read for anyone exploring low-cost startups, it offers insights and guidance on planning your side hustle properly and gaining perspective, rather than providing a rigid business plan.
For your actionable step this week, they issue a challenge: spend 30 minutes brainstorming. Reflect on what truly lights you up – your passions, likes, and even dislikes – and then consider how you can transform that into something that brings value to others. This simple exercise is presented as the essential first step for anyone interested in starting their own side hustle or passion project. Good luck on your adventures!
Join us as we share tips, resources, and a challenge to help you brainstorm and begin your own journey of turning ideas into reality.