Podcast Summary
Transforming Portfolio Management with ShareSite: ShareSite offers comprehensive investment tracking, integrates with multiple platforms, and provides premium features for deeper analysis, tax reporting, and portfolio sharing.
ShareSite, an online investment dashboard, is transforming the way investors manage their portfolios. With support for over 500,000 stocks, ETFs, and funds, and integration with more than 200 platforms, ShareSite provides a comprehensive view of financial performance, including analyzed reports, dividend gains, and currency fluctuations. Additionally, ShareSite offers a special deal for those who want to dive deep into performance metrics, streamline tax reporting, and share their portfolio - a 4-month extension when purchasing an annual premium plan. The discussion also touched on the hosts' personal experiences, from discovering new fall colors to dealing with dietary concerns and the importance of checking vitamin D levels during the changing seasons.
People of color face vitamin D deficiency during winter and potential family trauma from side hustles with low income and high time commitment: Choose wisely when selecting a side hustle to avoid burnout and financial strain, consider print-on-demand for higher income and less time commitment, and utilize resources from financial institutions for informed investment decisions.
During winter months, people of color are often vitamin D deficient due to limited outdoor time. This issue can lead to significant health concerns and even family trauma. Meanwhile, in today's economic climate, many people are seeking side hustles to make extra money. However, with the average side hustle income being only $4.83 per month and requiring 13 hours of weekly commitment, it's crucial to choose wisely. One recommended side hustle is print-on-demand, where you design and sell custom products without holding inventory. This business model can generate higher income and require less time compared to other side hustles. It's essential to make informed decisions about side hustles to avoid burnout and maintain a healthy work-life balance. Additionally, financial institutions like HSBC offer valuable resources and support to help individuals grow their wealth and make informed investment decisions.
Drop shipping and print on demand: Two e-commerce models for selling products online without inventory or logistics: Sell products online using drop shipping or print on demand models, eliminating inventory and logistics. Focus on seasonal trends and creativity using design tools for success.
Drop shipping and print on demand are two e-commerce business models that allow entrepreneurs to sell products online without holding inventory or managing logistics. Drop shipping involves selling a product on your website, then having the manufacturer ship it directly to the customer. This eliminates the need for inventory and shipping logistics, but the downside is that you may not know where the products are being made or under what conditions. Print on demand, on the other hand, is ideal for selling custom merchandise like t-shirts. When someone buys a product, it's printed and shipped directly to them. This eliminates inventory waste and allows for unlimited earning potential. Creativity is not a prerequisite for success in these business models, as design tools like Canva offer templates and fonts for creating designs. Additionally, focusing on seasonal trends can be a profitable strategy, as people often associate certain holidays with specific products. For example, selling Comic Sans font shirts for Halloween or font shirts with Christmas themes for the holiday season. Overall, these business models offer flexibility, scalability, and the opportunity to sell a wide range of products without the need for large upfront investments.
Profitable business model during peak seasons: Print on demand can be lucrative but requires high costs, creativity, and a pre-existing audience.
Print on demand can be a profitable business model, especially during peak seasons like Diwali, Christmas, and Valentine's Day. However, it comes with downsides such as higher costs and the need for a pre-existing audience to sell to. The costs include not only the production and shipping of the merchandise but also the creation and maintenance of a website. Additionally, creativity is a significant factor in this business, and those who lack it might find it mentally draining. It's essential to recognize that everyone has unique strengths and weaknesses, and starting a business based on your talents rather than your weaknesses can lead to greater success and sustainability.
Growing market for digital templates: Selling digital templates on Etsy has fees and payment policies, consider setting up your own website for increased sales and profitability.
The digital art and template market is growing as more people aim to go paperless and organize their lives digitally. Creators can sell their digital templates on platforms like Etsy or their own websites, with options including planners, budgets, recipe templates, social media content planners, and habit trackers. However, selling on Etsy comes with new fees and payment policies, making it essential for creators to consider setting up their own websites. Social media platforms like Instagram and TikTok offer free marketing opportunities for template sellers. Despite the effort required to set up a website, it's an investment that can lead to increased sales and profitability in the long run.
Build your own brand and website for long-term benefits: Invest time and resources to build your own brand and website for unique identity, better customer experience, and increased revenue.
Building your own brand and website, although requiring an initial investment of time and resources, can be more beneficial in the long run compared to using platforms like Etsy. While it may take some time to gain momentum, having your own website allows you to stand out from the competition and provide a better customer experience. Furthermore, the introduction of tap to pay on iPhone powered by Stripe simplifies the process of accepting payments for businesses, enabling them to increase revenue, expand reach, and enhance customer experience. It's a game changer for businesses looking to scale quickly and stay flexible. So, if you have the talent and resources to share, and there is a need for it, consider putting in the time and effort to build your own brand and website. For more information on how tap to pay on iPhone and Stripe can transform your business, visit stripe.com/tapiphonetoday.
Leverage social media for a low-cost side hustle: Find your expertise, build a following, and monetize through digital products, merchandise, or coaching services on social media. Explore complementary digital avenues for additional growth.
Social media can be an effective and low-cost way to start a side hustle. By finding your area of expertise and creating content around it, you can build a following and establish trust with your audience. This can lead to opportunities to monetize through digital products, merchandise, or coaching services. While it may take time and effort to build a social media presence, the potential for long-term growth and passive income is significant. Additionally, exploring other digital avenues such as print on demand and influencer marketing can complement your social media efforts and contribute to overall business growth.
Building a social media presence takes patience, experimentation, and consistency: Patience, experimentation, and consistency are key to building a successful social media presence. Focus on creating content that resonates with your audience, establish a personal brand, and be prepared for criticism. Surprisingly, individuals from various professions have found success in sharing their daily experiences online.
Starting a successful side hustle on social media requires patience, experimentation, and consistency. Begin by building a small following on social media and observing what content resonates with your audience. Over time, focus on creating content that caters to their interests and preferences. Even if you have a full-time job, you can still establish a personal brand on social media. However, be prepared for criticism and the need to develop a thick skin. Surprisingly, many individuals in various professions, from nursing to law, have found significant success in sharing their daily experiences online. By providing a unique perspective into their work, they attract a large following and offer valuable insights into their industries. Ultimately, the long-term benefits of building a social media presence can lead to financial rewards and increased exposure.
Building a personal brand and generating income with social media and freelance work: Social media and freelance work are effective side hustles for building a personal brand and generating income. They require dedication and marketing efforts, but offer potential for financial and personal growth.
Social media and freelance work are effective side hustles for building a personal brand and generating income outside of a traditional 9 to 5 job. Social media can be used to market oneself as a brand and build a following before launching a product, while freelance work allows individuals to leverage their skills and market them to clients on platforms like Fiverr, Upwork, and LinkedIn. However, both options require time and effort, making them active income sources rather than passive. Social media can be particularly time-consuming, but it offers the potential for building a large clientele and eventually going full-time. Freelance work also provides an opportunity to dip one's toes into various industries and hone skills that may be in high demand. Ultimately, both side hustles require dedication and marketing efforts, but they offer the potential for financial and personal growth.
Leveraging Unique Skills for Profitable Side Hustles: Reflect on skills in demand, showcase abilities on social media, and consider side hustles for income growth and skill development, while being mindful of mental energy and privilege.
Identifying and leveraging your unique skills can lead to profitable side hustles. Reflect on what people frequently ask for your help with and consider offering those services to others. Social media can be a powerful tool to showcase your abilities and gain testimonials. However, it's essential to be aware of the potential for burnout and assess your mental energy and capacity before committing to a side hustle. Remember, not everyone has the luxury of choosing a side hustle based on personal interest alone, and it's crucial to recognize the privilege in making that decision. Ultimately, side hustles can provide an opportunity to learn new skills, boost your income, and potentially create passive income, making them a valuable addition to your professional growth.
Exploring Side Hustles During Economic Uncertainty: Explore side hustles like print on demand, digital artworks, social media education, and freelancing to bring in extra income during economic uncertainty. Use resources like Girls That Invest to learn and expand your knowledge.
During uncertain economic times, there are various side hustles that can help individuals bring in extra income. These include print on demand, digital artworks and templates, social media education, and freelancing your skill set. Each option caters to different interests and abilities. For instance, print on demand is ideal for those who enjoy art and design, while freelancing is perfect for those who want to master a skill and charge a premium for it. With various resources available, such as Girls That Invest's newsletter, Facebook group, and book, individuals can continue learning and expanding their knowledge to succeed in their chosen side hustle. Remember, every extra dollar counts, especially during economic downturns. However, it's important to note that Girls That Invest does not provide personalized investing or financial advice. Always do your research and use due diligence before making any investment decisions.
