If Your Side Hustle Pays Half Your Salary, Quit — Transcript

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1. 0:00Rat King
2. 0:02Y'all have some of the most wild names.
3. 0:04Uh
4. 0:06Actually, before I answer Rat King's
5. 0:08question, um let me do a quick poll cuz
6. 0:10I'm actually curious.
7. 0:12Uh can you put your
8. 0:14uh
9. 0:15revenue level uh or if you have a
10. 0:17business so you don't have a business or
11. 0:19revenue level in the poll, my team's
12. 0:21going to put it up there. I'm actually
13. 0:22curious
14. 0:23um who's with us. Oidea, Jasmine, that's
15. 0:26uh today for uh for the Spanish-speaking
16. 0:29in the room. Just want to make sure that
17. 0:30I'm translating live. Um all right.
18. 0:33While the uh while the the uh the China
19. 0:35survey comes up, Rat King, the floor is
20. 0:38yours. Uh I have a great job where I'm
21. 0:40earning good money and learning a lot,
22. 0:42but I have a small side hustle that's
23. 0:43been successful growing and starting to
24. 0:44take up more and more of my time. I
25. 0:46don't know if it's worth going full
26. 0:47time. The hardest part is that the day
27. 0:48job is upskilling me for the side
28. 0:49hustle. Boss is a great lady,
29. 0:50supportive, uh so it's not a tension
30. 0:52there. How do you navigate this?
31. 0:56Um
32. 0:57we're looking at which thing will create
33. 1:00the most
34. 1:01total earning power over a longer time
35. 1:05horizon. And so, if you are still
36. 1:08learning really quickly in the main
37. 1:10thing, then everything you learn is
38. 1:12going to lift the potential of the side
39. 1:15hustle. And so, as long as the rate of
40. 1:17learning is high, then I would continue
41. 1:19to do both. But at some point, you will
42. 1:20have to make the call where you're like,
43. 1:22I can't do both anymore, and then you'll
44. 1:24probably have to go all in on the side
45. 1:26hustle. Um it depends obviously on the
46. 1:28goals that you have, but let's say the
47. 1:30side hustle is taking 10 hours a week
48. 1:32and makes half of your current income.
49. 1:34Well, it means if it took all of your
50. 1:35time, then you might make twice your
51. 1:37current income. If that trade is worth
52. 1:38it for you, then go for it. But my
53. 1:40position is I want to I want to get I
54. 1:41want to exhaust as many learnings as I
55. 1:42possibly can, and I can do that on
56. 1:44someone else's dollar and de-risk as
57. 1:47many of my own risks uh as possible.
58. 1:50I'll give you one more frame on this,
59. 1:51which is that
60. 1:53does staying longer in the job
61. 1:56increase your opportunity size or
62. 1:58decrease your opportunity size.
63. 2:00And so, that means if you learn more and
64. 2:02then the opportunity grows as a result,
65. 2:04then you delaying 3 months or 6 months
66. 2:05is not really going to negatively impact
67. 2:08you. On the other hand, if you're like,
68. 2:10I have it I can't really learn that much
69. 2:11more. My rate of learning has dropped
70. 2:12precipitously. Um then at that point, I
71. 2:14think it makes sense to take the side
72. 2:16hustle and make it your main hustle. If
73. 2:17you like this video and you're a
74. 2:18business owner who wants to break
75. 2:19through your current revenue ceiling, I
76. 2:20distilled every lesson from scaling 10
77. 2:22businesses past 10 million and three
78. 2:24businesses past 100 million into a
79. 2:26completely free scaling roadmap that
80. 2:27I've used to go from zero to one, zero
81. 2:29to 10, and zero to 100 plus. And so, you
82. 2:31can click here and you can check it out.
83. 2:33Again, absolutely free. And since your
84. 2:34business owner appreciates you and
85. 2:36enjoy.