101 | Finding your Side Hustle Idea | Nick Loper

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
101. Nick Loper. Side Hustle Show
ChooseFI has partnered with CardRatings for our coverage of credit card products. ChooseFI and CardRatings may receive a commission from card issuers.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.  See our disclosures for more info.

ChooseFI Favorite: top rewards card for beginners

Chase Sapphire Preferred Card​

ChooseFI’s top pick for travel rewards! The Chase Sapphire Preferred Card has a 60,000 point sign-up bonus (after spending $4,000 in the first 3 months). The points are ultra-flexible and transfer to 13 airlines and hotels. $95 annual fee.

ChooseFI Favorite: top rewards card for beginners

Chase Sapphire Preferred Card​

ChooseFI’s top pick for travel rewards! The Chase Sapphire Preferred Card has a 60,000 point sign-up bonus (after spending $4,000 in the first 3 months). The points are ultra-flexible and transfer to 13 airlines and hotels. $95 annual fee.

Nick Loper, founder of Side Hustle Nation, talks about the benefits of developing a side hustle, and methods to actually develop a good side hustle idea.

  • You can only cut so much from your expenses; a side hustle helps you expand your earning potential.
  • Nick thinks working just a 9-5 job is risky – what happens if you get fired?
  • Nick advocates several methods for developing side hustle ideas.
  • Method 1: Intersection Method
    • Write out three columns with lists that include what you can do, what you like to do, and the people in your network.
  • Nick used the Fiverr Full Disclosure: We earn a commission if you click this link and make a purchase, at no additional cost to you. website to test out his first side hustle idea.
  • How important is it to pivot, instead of being discouraged by failure?
  • Some of the best ideas are developed once a business is already in motion.
  • Method 2: What sucks?
    • Find simple sticking points in life and solve the problems.
  • Some people find things on Amazon that suck, and find a way to make them better.
  • There are manufacturing companies in China and the U.S. that work with small orders and require minimal up-front investment.
  • You don’t need a brand-new idea, you just need a different market.
  • Recommended episodes from Side Hustle Nation:
  • Method 3: Rip, Pivot and Jam
    • Find a business model that’s working, pivot it to a new market, product, etc., and then do the work.
  • Are there side hustles that Nick no longer recommends?
  • Sometimes the opportunity cost for a side hustle may not be worth the cash.
  • One of the best side hustle ideas Nick has heard: Flea Market Flipper.
  • How difficult is it to develop a passive-income side-hustle?
  • Think Maids: found a category of businesses on Yelp Full Disclosure: We earn a commission if you click this link and make a purchase, at no additional cost to you. that had really poor reviews, and found a way to provide better customer service.

 

Nick’s favorite purchase over the last 12 months Genze e-bike 

Links mentioned in today’s show:

Alibaba.com

Smart Passive Income

GoCurryCracker

https://www.choosefi.com/101-finding-your-side-hustle-idea-nick-loper/

ChooseFI has partnered with CardRatings for our coverage of credit card products. ChooseFI and CardRatings may receive a commission from card issuers.
Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest

Comment Disclaimer: Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

6 thoughts on “101 | Finding your Side Hustle Idea | Nick Loper”

  1. Whenever Nick was telling his “biggest financial mistake story”, I just knew where it was going to end up (with him selling as well as buying at the wrong time) LOL!

  2. I also would like to know what kind of e- bike Nick bought!
    I even rewound the episode to see whether I had missed the name of it. I don’t think he said though.

Leave a Comment