249: The #1 Reason Side Hustles Fail to Become Businesses
You’ve heard the old statistic “nine out of ten businesses fail”, but why is that? If there are so many people willing to risk their livelihood to pursue a great idea, why do so many end up broke and back at a job? Gabe Nelson, certified financial planner and business advisor, has an idea. Gabe advises many business owners and solopreneurs through building their businesses with maximum cash flow and minimum time commitment. A couple of decades ago, Gabe was in the position many entrepreneurs are in today. He was working seven days a week, almost living at the office, doing anything he could to build his business. Once his daughter was born, he knew he had to take a step back from the seven-day workweek. Then, his second and third daughter were born, forcing him to automate, delegate, and eliminate every unnecessary task on his plate. Now, with a thriving firm, Gabe knows what does (and doesn’t) work for solopreneurs, and the systems they need to implement now to secure a happy life tomorrow. In This Episode We Cover The #1 thing you should do before you start a business or side hustle Keeping your relationships healthy while working long hours at your business Outsourcing when you’re ready and growing a self-operating team Laying the groundwork of communication between you and your partner Managing cash flow in your business and keeping a healthy safety reserve Trusting the “whispers” that your gut tells you about your business And So Much More!
Audio is streamed directly from the publisher (podtrac.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
You’ve heard the old statistic “nine out of ten businesses fail”, but why is that? If there are so many people willing to risk their livelihood to pursue a great idea, why do so many end up broke and back at a job? Gabe Nelson, certified financial planner and business advisor, has an idea.
Gabe advises many business owners and solopreneurs through building their businesses with maximum cash flow and minimum time commitment.
A couple of decades ago, Gabe was in the position many entrepreneurs are in today. He was working seven days a week, almost living at the office, doing anything he could to build his business. Once his daughter was born, he knew he had to take a step back from the seven-day workweek. Then, his second and third daughter were born, forcing him to automate, delegate, and eliminate every unnecessary task on his plate.
Now, with a thriving firm, Gabe knows what does (and doesn’t) work for solopreneurs, and the systems they need to implement now to secure a happy life tomorrow.
In This Episode We Cover
The #1 thing you should do before you start a business or side hustle
Keeping your relationships healthy while working long hours at your business
Outsourcing when you’re ready and growing a self-operating team
Laying the groundwork of communication between you and your partner
Managing cash flow in your business and keeping a healthy safety reserve
Trusting the “whispers” that your gut tells you about your business
And So Much More!
Learn more about your ad choices. Visit megaphone.fm/adchoices