Do you ever think ‘When do I make the transition from my full-time job to my side hustle?’ ‘How do I choose a side hustle?’ or ‘How do I spend my time and money in a new business?’ and ‘How do I even make money in a new business?’ You are not alone. This week Stacy Tuschl, an expert in growing small businesses, is here to answer your questions! Y’all, she started her own company in her parents’ backyard when she was 18 and now it is a multi-million-dollar business. I always look to her for business advice and I can’t wait for you to hear her wisdom.
How She Got Her Start: SUCCESS IS NEVER OVERNIGHT.
· Stacy grew up in an entrepreneurial family.
· “I feel like everybody else could probably see it, but I didn’t.”
· She went to school fully planning on working for someone else after college, but she wound up teaching dancing and it grew from 17 students to 100 in a year.
· Now she has two performing arts academies that gross over $1 million.
· “It’s been 17 years of building that business, so please know that I did not start there.”
· It took Stacy 5 years to bring in a single paycheck. There is NO such thing as overnight success.
Making Money With Your Side Hustle
· If you love what you’re doing in your business, the business will last.
· “What would I do even if I never got paid for it?”
· You can either spend time or spend money to make your business grow. Ex: spending time: doing the work yourself vs. spending money: outsourcing the work.
When to Take The Leap
· Get Practical: It’s just like quitting any job—are you ready for it financially?
· Take some time to ask yourself: how much time you have to give, how much money you have to invest, who do you have depending on you?
· Stacy’s advice is to just take action, because then you can start getting feedback which will help you mold the perfect business.
Listening To Your Audience
· You need to constantly be getting feedback from your audience because people are constantly changing and that means their needs are changing too.
· At the end of every lesson, Stacy has a google form asking questions like ‘What did you get out of this?’ ‘Where did you struggle?’ and ‘What do you wish I would have taught?’
· Don’t just ask the questions, LEARN from them! Give your clients what they are asking for.
· You have to be your own individual in your business. Be who others aren’t so you can serve who others aren’t.
· We all have blind spots in our businesses, and it takes courage to stop and reflect.
· “Just because you don’t know what your next thing is doesn’t mean you’re not meant for it.”
· Give yourself space to think and have an open mind for whatever is coming next for you.
Keep up with Stacy on Instagram at @stacytuscl or visit her website at StacyTuschl.com. She now has a podcast called Foot Traffic Podcast and a signature program called Foot Traffic Formula, which you can access through her website.
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