Motivation Monday: Your entrepreneurship questions MATTER!

Summary

In this video, the host addresses questions from Gregory about starting a side hustle while maintaining a full-time job. Key points include finding the right time to start based on personal readiness, ensuring the side hustle is profitable and aligns with one's skills to solve real-world problems, and managing stress by controlling one's time and priorities. The host also emphasizes the importance of mindset and the pursuit of entrepreneurship, suggesting that passion often arises from making a meaningful impact rather than leading the way.

Takeaways

• 🔔 Gregory's questions from LinkedIn sparked a video response addressing common side hustle concerns.
• 🚀 It's normal for side gigs to not work out initially; it's part of the entrepreneurial journey.
• 🌟 There's no 'perfect' time to start a side hustle; readiness comes from within and involves a mindset of perseverance.
• 💡 A side hustle should ideally be something that makes money, reflecting the value it provides and the problems it solves.
• 📚 The book 'The Go-Giver' is recommended for understanding the concept that money is an echo of value.
• 🔄 Passion often arises from aligning one's skills with the world's needs, rather than being the starting point.
• 💼 If a side hustle becomes overwhelming, it's a signal to reassess priorities and time management, not a sign to quit.
• 🔋 Control over one's life comes from managing one's time and energy effectively.
• 💰 A side hustle should aim to be profitable from the outset, as money reflects the value and impact of one's work.
• 🤝 For support with side hustles, reaching out to entrepreneurship centers or experienced individuals can be beneficial.
• 🧠 Entrepreneurship is as much about mindset as it is about action; the right mindset can make the journey smoother.

Q & A

What was the main topic of the video?

The main topic of the video was answering questions about entrepreneurship and side hustles, particularly those posed by Gregory in the LinkedIn comment section.

Why did the speaker choose to create this video?

The speaker chose to create this video to follow up on Gregory's insightful questions and to help others who might have similar queries about starting a side hustle.

What was Gregory's first question about side hustles?

Gregory's first question was about the right time to try out a side hustle or turn a passion into a business.

According to the speaker, when should one start a side hustle?

The speaker suggests starting a side hustle when one is ready, having a vision for serving others, and being committed to delivering on that vision.

Does the side hustle have to be something that works financially, or can it just be a passion project?

The speaker believes that a side hustle should be something that works financially because money reflects the value and contributions one makes in the world.

How does the speaker define 'passion' in the context of entrepreneurship?

The speaker defines 'passion' as a byproduct of connecting one's unique talents and skills with the needs of the world, rather than a starting point.

What if the side hustle becomes too much to handle or causes stress?

The speaker advises that stress and overwhelm are ways of being and are controlled by how one orders their life and time. It's about making decisions and structuring one's day effectively.

Should one prioritize passion or making money when starting a side hustle?

The speaker suggests that one should aim to do both, as the side hustle should solve a problem and make money, reflecting the value provided.

Who are the right people to talk to for help with side hustles according to the video?

The speaker recommends reaching out to the Walsh College Center for Innovation and Entrepreneurship or connecting with the speaker on LinkedIn for help with side hustles.

What resources does the speaker's organization offer for entrepreneurs?

The speaker's organization offers resources and has received a grant from the Small Business Association of Michigan to serve small businesses impacted by the COVID-19 pandemic.

What is the speaker's perspective on the mindset required for entrepreneurship?

The speaker emphasizes that entrepreneurship is both a pursuit and a mindset, with the mindset work being the most challenging but also crucial for the success of the entrepreneurial journey.