A side hustle is a terrific way to become Successfully Unemployed. By creating a Facebook Ads company like Laptop Empires shows how is one of the best.
As social media and the internet continues to grow, and it most likely will not stop for a long time, taking advantage of all the money in advertising is HUGE!
This is your way to be Successfully Unemployed.
How Mike Yanda Makes Money with His Side Hustles and Laptop Empires
Part of Mike’s income is with Laptop Empires that he started with his business partner Bobby Hoyt of Millennial Money Man. They teach people how to build their own digital empire to make money and be able to leave their job.
Mike also has coaching that he does helping agency owners build their teams, implement systems, and scale.
How Mike Yanda Went from a Lawyer to Side Hustles
Mike went to law school, but he didn’t 100% know what he wanted to do yet. He enjoyed studying and learning and research, but he didn’t enjoy practicing law as much.
He started his first online fitness business while he was in law school to help with his student loans though.
When his oldest son got sick as a newborn, he couldn’t put his son in daycare. So, Mike and his wife decided that Mike was going to stay home.
He focused on his agency and built it into a big business and built a team, and that’s the path he has been on since.
There was not a moment that he said, “This is not the thing for me.” He was led into it by circumstances and doing what he needed to do for his family.
But he discovered that he has a greater passion for business. Mike has a knack for it. He built three businesses into six-figure businesses with one in the seven figures.
How to Start a Side Hustle
The first thing to keep in mind is the name “side hustle” is what it needs to be. It is work. You need to hustle. You need to put some effort in.
The other thing is that it’s all on the side. It can turn into more like it did for Mike, but it doesn’t have to become a full-time thing.
The beauty of owning a business is that it can fit into your life. A lot of people let it consume their life, but it doesn’t have to be that way. You can mold it to fit your life and the days and hours that you can work.
You have options.
Watch the Laptop Empires Successfully Unemployed Episode:
How to Know What Type of Side Hustle to Start
When you’re trying to figure out what to do, you have so many options with the internet, but Mike gives us some criteria to run your options through.
1. How much does it pay?
You want something that pays well.
2. What is the time investment?
Since it’s on the side, it needs to be a low time investment.
A lot of people get this part wrong. Even if you do something like Uber and work as many hours as you want to work, you don’t necessarily have the freedom of when you can work. You can make good money, but you may have to work certain hours.
Are you working the time of day you want to work? And are you working the number of hours you want to work?
3. Can you earn money from it quickly?
This is another thing people can get wrong.
For example, content creators such as bloggers and course creators are a long-term play. If you want to do something like this, keep in mind that it could be two or three years before you start to see some income.
A side hustle is something that you can make money with now. Even if you don’t want to leave your job, it’s something that can alleviate financial stress.
4. Is it scalable?
This is the cherry on top in case it is something that you would like to grow later on down the road.
Why Running Facebooks Ads Makes a Great Side Hustle
Facebook Ads checks all of the four things to look for in a side hustle. It is the main form of advertising for most brick-and-mortar businesses.
It is high paying. The industry standard for managing Facebook Ads for a company is $1,500 a month. The lowest is $1,000 a month, and it goes up from there, especially if a company has multiple locations.
It has a low time investment. It takes some time to set up, but then it has very low maintenance for monitoring and tweaking the ads.
Facebook Ads are also easy to learn. You don’t have to take a course, though a course helps you learn it quicker.