Step# 2 in my "Roadmap to Escape the 9-5" is to start a side hustle or business that can eventually replace the income from your day job.

However, most people struggle to come up with a side hustle idea. There are likely a few reasons for this:

• They're focused on the wrong thing (money) - never chase the money
• They lack confidence in their abilities
• They're afraid to start
• Indecisive/ can't think of a 'good' business idea

Regardless of the reason, if you're struggling to find the right side hustle, here's what to do:

1. Take a look at your current job. What are you getting paid to do right now?
2. Make a list of the skills that you use in your current role. How can you use your skills to help others outside of your job?
3. Create a service-based business (can be freelancing) similar to the job you're already doing. However, instead of providing the service to your employer's customers, find your own customers.

Remember, it doesn't have to be the same product or service but something closely related to what you already know and are getting paid to do.

I'll use a personal example to illustrate what it can look like:

Before 2018, I had started several different side hustles, but nothing worked until I figured out how to leverage my knowledge from over 20 years in the banking industry and start a service-based business.

Here are the critical skills I developed and used every day as a bank manager:

• Communication
• Customer Service / Relationship management
• Product knowledge (Banking, loans, mortgages, investments, wealth management, estate planning, etc.)
• Leadership (20 years as a people manager)
• Problem-solving
• Time management

And more.

Here's what I knew about my business idea. I wanted to do more creative work and have control over my time. I also wanted my business to be 100% remote (work from anywhere).

That's when it dawned on me.

Instead of getting paid to run a bank and advise clients on their finances, I could run my own freelance business and WRITE about personal finance.

As most of you know, I landed my first freelance client in June 2018. Four years later, the income from my side hustle had surpassed my 9-5, and at age 46, I quit my job.

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Now, as you reflect on your own situation, I can't stress enough the importance of leveraging your existing skillset when considering your side hustle or business idea.

If you look at the skills I listed above (from my job as a bank manager). Every single one of them has been critical to the success of my business.

I constantly use my customer service and relationship management skills to exceed client expectations. My problem-solving ability enables me to adapt and manage my business finances, taxes, etc. Of course, my knowledge of mortgages, investments, etc., helps me be an authority on various subjects as a writer and editor.

You get the idea.

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So, back to my original point. If you're struggling with a side hustle idea, start with what you're already getting paid to do.

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Have a great week!

- Colin

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