10 Key Takeaways for Building a Successful Side Hustle

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1. ** Define a side hustle**: A side hustle is a business that has not gained enough size to support you financially. It's a diversion from your main hustle, which is likely your career or job.
2. Secure your family financially: Live below your means with your main income and save at least 6 months' worth of living expenses before starting a side hustle.
3. Make your side hustle match your income: Once you have a safety net, aim to make your side hustle match your income from your main hustle. If not, you may need to adjust your expectations.
4. Test reliability: Show that your side hustle can sustain a certain level of income for an extended period (at least 6 months) before making the jump to full-time entrepreneurship.
5. Choose a side hustle with high likelihood of success: Pick an idea that aligns with your skills and experience, and has a high likelihood of success.
6. Learn from your main hustle: Take skills and knowledge from your main job and apply them to your side hustle. This will help you learn essential business skills.
7. Be willing to start small: Don't try to go big too quickly. Start small, test, and iterate to minimize risk.
8. Cut overhead: Reduce your living expenses to free up more time to focus on your side hustle.
9. Don't try to be someone else: Model your path, but don't try to replicate someone else's exact journey. Be respectful of the risk you're taking and take calculated steps.
10. Prioritize learning: Focus on learning and experimenting with your side hustle, rather than just trying to make money.

Source: How To Go All In On Your Side Hustle..., Alex Hormozi