Career choices and six-figure side hustles.

So, you love what you do, you love who you do it with, but the biggest issue in your life right now is that you are swapping your time for your freedom to achieve the income to live the lifestyle that you want?

You are not alone here this is such a common theme with the hundreds of people I speak to each month.

I was working with an extremely talented engineer (let’s call them Sarah) last year who was in this exact situation. Sarah loved what she did, she loved the team around her and the clients she served. The biggest issue was that she was not able to have the creative freedom to do there work she loved on her terms. Sarah knew she wanted more out of life and did the research, she interviewed with competitors and spoke to her current employer about her desires. Sarah had some great options on the table, including a promotion and a new job with long term equity options the whole lot. But what Sarah did not have was the freedom that Sarah so desired to design a carer around her purpose, family and values.

Out of the hundreds of people I speak to each month many say they would love to do something similar to Sarah, but they are afraid typical for a several common reasons.

Don’t know where to start.

Not sure how they can achieve the desired outcome.

Don’t know anyone who has done it to be a role model.

They don’t see the skill set in themselves outside of their day job so they ask, how can they do it so it does not conflict with their day job while they ramp up.

If any of these above questions resonate with you, I have put together a two lists below with a few examples of side hustles that people have started and turned them into 6 figure business in their first 12 months. There first are in the utility fields while the second list is completely different utilising skills that anyone can learn and master.

Five Utility sector focused side hustles that have the potential to generate six figures in 2024:

1. Consulting engineering: Utilising your qualifications and acquired knowledge you can increase your income by 2 x 3 times simply by becoming an independent contractor.
2. Solar Panel Installation and Maintenance Business: Starting a side hustle focused on installing and maintaining solar panels for residential or commercial properties.
3. Energy Efficiency Consulting: Providing consulting services to businesses or homeowners on improving energy efficiency, reducing utility costs, and implementing renewable energy solutions.
4. Smart Home Technology Installation: Offering services to install smart home devices and systems that optimize energy usage, such as smart thermostats, LED lighting, and energy monitoring systems.
5. Home Water Filtration, Distribution and Installations: From bench top water filters to fully integrated under sink systems or even portable desalination systems you can utilise your skill set in this lucrative side hustle.

A great example of an individual who has started and achieved six-figure incomes within a year is John Horan, a former electrician, he started his business out of his garage and within the space of eight years he, his wife and his team built a $35 million, multi-award-winning enterprise. (Reference: https://masterelectricians.com.au/blog/build-multi-million-dollar-contracting-business)

Seven side hustles that anyone can do ?to generate six figures in 2024:

1. Freelancing in High-Demand Fields: Offering services such as copywriting, graphic design, web development, or digital marketing to clients worldwide through platforms like Upwork or Fiverr.
2. E-commerce Entrepreneurship: Starting an online store selling niche products through platforms like Shopify or Amazon FBA, leveraging dropshipping or private labeling models.
3. Digital Course Creation: Developing and selling online courses or educational materials on platforms like Udemy, Teachable, or Kajabi, focusing on areas of expertise or specialized skills.
4. Affiliate Marketing: Building a blog, YouTube channel, or social media presence to promote products or services and earn commissions through affiliate partnerships with companies like Amazon Associates or ClickBank.
5. Social Media Management: Offering social media management services to businesses, including content creation, scheduling, and engagement, leveraging platforms like Facebook, Instagram, and LinkedIn.
6. Investing in Real Estate: Starting with rental properties, house flipping, or investing in real estate crowdfunding platforms like Fundrise or RealtyMogul to generate passive income.
7. Consulting or Coaching: Providing consulting or coaching services in areas of expertise, such as business strategy, career development, personal finance, or fitness, either independently or through platforms like Clarity or Coachme.

Another great examples of and individual who have started from nothing and achieved six-figure incomes within a year is Pat Flynn, he started as a blogger and eventually created digital products and courses in the field of online business, generating over $100,000 in his first year. (reference: https://www.forbes.com/sites/laurashin/2014/09/12/how-pat-flynn-made-his-first-3-million-in-passive-income/?sh=e91bef443d33

Remember, success in any side hustle or new business requires dedication, consistency, and continuous learning. It's essential to choose a path that aligns with your skills, interests, and market demand. If you're considering starting a side hustle, evaluate your strengths and interests, research potential opportunities, and develop a solid plan for execution. Taking note there are risks in any business venture that you must thoroughly evaluate and be prepared for before taking a bold leap of blind faith.

So, if you are in a similar situation where you are torn between following the corporate ladder or paving you own path reach out for a confidential conversation.

If you think this article was useful, please, give it a thumbs up and share it with someone you think needs to read this.