Comments on: How to Turn Your Side Hustle Into Passive Income

By: Diane taber

Diane taber — Fri, 22 Jan 2021 10:43:39 +0000

Hi we’re both trying to find a second job to do as a side hustle so we can finally get out of debt.and we can’t wait as we are both doing jobs that are both not very well paid jobs. And so it’ll take us longer to get out of debt. If we don’t get/ have a side hustle going as we’ll need this/one.

By: Joel

Joel — Sun, 12 Jul 2020 14:23:28 +0000

In reply to Dollartrak. "SaaS Your Knowledge". That's a cool slogan :)

By: Dollartrak

Dollartrak — Fri, 10 Jul 2020 23:47:00 +0000

This was a really well done article. I have had this same thought about building a SaaS vs consulting. You put into words how I had always felt.

By: Wyatt Warn

Wyatt Warn — Mon, 06 Jul 2020 06:27:33 +0000

Great points about turning your own unique skill set into something which has potential to earn profit. I could’ve definitely used you as a tutor during my first year, stats haunts me til this day. Thanks for the article, will be sharing it with some buddies who’ve been discussing side hustles.

By: Tara/Sparkrental

Tara/Sparkrental — Tue, 30 Jun 2020 17:37:15 +0000

Great info Zach, and congrats for being able to Productize Your Knowledge! I do trade time for money but this time I feel it is on my own terms. I am social media marketing manager for a great company. For so long I have worked jobs with only one thing in mind “MONEY,” and that’s all that mattered, but I was miserable and hated it. I’ve always loved how I could create really amazing relationships with people through social media and even helped others boost their businesses just by creating the right relationships through their networks and promoting. I finally decided to make this a career and no school necessary which was a plus. I’m just good at it and have the tools. I love what I do!! Unfortunately there are way to many people selling courses, books, and lessons about social media marketing so It would be tough product to sell.

By: Zach @ Four Pillar Freedom

Zach @ Four Pillar Freedom — Tue, 30 Jun 2020 17:31:23 +0000

In reply to Caroline at Costa Rica FIRE. Agree that it definitely takes work up front to productize your knowledge. Once the initial hard work is done though, it can turn into a passive income stream that pays you over and over again. It's just a matter of committing the time to make the product at first.

By: Zach @ Four Pillar Freedom

Zach @ Four Pillar Freedom — Tue, 30 Jun 2020 17:30:15 +0000

In reply to Liz. Thanks Liz! I also hear that a lot from people in similar majors who have to take at least one stats class.

By: Zach @ Four Pillar Freedom

Zach @ Four Pillar Freedom — Tue, 30 Jun 2020 17:29:19 +0000

In reply to Backpack Finance.

“Your base is already there in your head” – Exactly! It’s just a matter of turning that base of knowledge into something other people can consume.

By: Caroline at Costa Rica FIRE

Caroline at Costa Rica FIRE — Sun, 28 Jun 2020 21:46:20 +0000

Agree that productizing your knowledge can get you out of the time for money trade. That being said, you still have to sell those products, which entails a lot of different skills such as social media, online advertising, pricing, etc. I have productized some of my consulting services, and it’s great having that stream but it’s still a small fraction of my billable hours, even though I have worked with specialists to grow it. I still agree that it’s worth it to start that business, but it’s not as simple as build it and people will come.

By: Liz

Liz — Sat, 27 Jun 2020 23:31:57 +0000

Great idea! Stats was the hardest class I took while pursuing my B.S. in Accounting.