Starting any business, you need to test the viability of the business idea, and keeping expenses and risk as low as possible lets you test your idea without risking bankruptcy.

I truly think that freelancing/consulting is a great business model–either as a side business or with the intent of building it into your full-time endeavor–because a freelance/consulting business has:

–>very low start-up costs,

–>flexible hours,

–>a high hourly pay rate, and

–>you likely already have the expertise to get started.

In addition, consulting is a simple business model that let’s you learn the ropes of running and growing a successful business.

Every business is different, but what I’ve found from running my own consulting business for nearly 5 years is:

–>I make MUCH more than I ever did at a day job. I’ve actually been able to QUADRUPLE my former salary.

–>I work less.

–>I have more flexibility.

–>I have less stress.

–>I have equivalent benefits (e.g., health insurance, retirement).

That’s not to say it’s easy or is never stressful. Start a business as a side-hustle while keeping your day job. That way, you learn how to properly run a business, and can grow it to a point where you can ditch your day job. That’s essentially what I ended up doing.

Greg Miliates

http://www.StartMyConsultingBusiness.com

Also, will be highlighting one of your posts in tomorrow’s Katana wrap.

Thnx!

Sam

Hehe, however, sometimes I do start, but never get around to the pefection part ; ).

Longterm side money is definately about doing your passion. It helps with the late nights and backing up working after you have done a full day at your normal job.

- That’s the deal breaker for most. Extra money is extra work. Unless you invest your money into rental properties or shares with high dividend payouts, an extra income will consume lots of your time.