I'm trying to gain financial independence by creating side projects that make me passive income. I'd like to learn from those of you who have had success doing so and how you got into it. My biggest questions are: 1. How do I find opportunity to make something that people want/need? 2. How did you leverage your network to create and make money off of your side project? 3. Any other advice? Tips? My ideal situation is not being contracted a fixed amount to develop a project, but rather own the project I make and sell a subscription to people. #sidejob #sidehustle #freelance #startup
Just do it. That’s how you do it. Also let me remind you that 95% of blind only knows how to get a job with high TC and never tried to start a business
Most people can't do two jobs seriously in parallel (even when they're young and single).
do something of value for people?
Buy crypto
Look at microacquire, buy something you can improve. Product market fit is not easy
Never heard of it before. I'll give it a look!
What are your skills? I have a few leads
Full stack web developer -- Vue JS, AWS services, kubernetes, SQL
That the best skill set. Look at indiehackers and product hunt. Tonnes of ideas and people
Angel investing is fun too
How to get started with it tho
Super easy, signup angellist, show you are accredited and get into syndicates. Yes not the best deals come there. You have to apply explore-exploit rules. There is yc funds you can invest. Also there are other syndicates you can john. You need to be accredited inv though
Real estate. I started off buying and selling my own flips, then I got licensed to save money, started helping friends/family, and before I knew if, had a full-cycle real estate business. I did it full time for many years before entering tech. Now I just own rentals and do a few dead for fun with people I like. I don’r recommend getting licensed and working with the public unless you are serious about learning actual skills in negotiation, the contracts, construction, etc.
Doing the same here. It’s a slow process and finally paying off nicely. Basically FIRE now but still enjoy working.
Me too! I generally love to work and have a great gig but I’m working on a transition to my ‘retirement career’. Crazy idea to try doing something for work just because I’m interested in it.
You can be a hot male stripper or play at the magic mike if you are a hot guy 😁
If your goal is financial independence, then why are you saying side gig? Kind of an indirect route. Start by working at saving 50 percent. Then systematically invest. The create a few systems to control your money decisions. Then learn some investments and business by tnkering. Then invest woth lower risl and more reward using some cash you saved, xover risk with the systematic investments and leverage your skills. Just layin it all out for you
Do you mean to say we don’t need to have a side gig for financial independence? Most of the online finance gurus swear by it going to reduce the time to reach FI. But through investments and savings is it possible?
Yes. But a 15 percent savings rate taked 40 or 50 years so work to control 50 percent of income for this goal. That will get it started and a 20 year time frame. Then use systematic investing to pulll it in to 14 years. Then learn some and pull it in to 7 to 10. But in this area you have to act wisely and not make decisions the eay you do j. The checking account. So create some systems to control yourself and observe your own behavior to avoid sabatoshing yourself.
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Thanks, new to Blind. Appreciate the tip! :)