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What It's About
A finance employee starts a side hustle that is directly related to the work he does for his day job.
Business Model
Skills Required
Complexity
Profit Potential
Words of Wisdom
These kinds of hustles tend to grow mostly by referral, but Mike also has a practice he calls “the 3 contact pitch process.”
Every week, he reaches out to three contacts: clients, prospects, or just friends that might lead to referrals. Many of us are naturally resistant to pitching our services, so having this simple goal keeps him focused.
Fun Fact
People have a hard time sharing information to others about their finances, which can lead to a lot of denial about where they stand financially. When he’s able to help someone plan the next 6 months to 20 years of their life, the relief and excitement they feel when they're back on track is incredibly fulfilling to Mike.
It doesn't hurt that he was able to bring in around $15,000 his first year, and he's hoping to keep growing it until it replaces his full-time income as an employee.
Notes from Chris
Episode 66
We often look at hustles that have very little to do with someone’s day job, but here we can see how a finance professional used the same skills he acquired for his career to grow an additional source of income during off-hours. In his case, the skill he had learned in getting a graduate degree was directly related to both employment and freelance work. Most people tend to choose one or the other, but he made the interesting choice to pursue both at the same time. He also identified a gap between accounting and finance professionals, then invested time in learning both sets of skills. This helps to set him apart from other advisers. MENTIONED IN THIS EPISODE:- Mike Zeiter, CPA/PFS: Learn more about Mike and the services he offers
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