The more side hustles you pursue, the more you spread out your time. While multiple side hustles means multiple income streams, some have more potential than others.
One of the most important skills you can develop as a side hustler is to discover your highest impact activities.
Discovering your highest impact activities lets you know which activities yield the most growth and income. If you focus more of your time on the few activities that yield the most growth and income, you’ll see more growth and income in your life.
Here’s a brief exercise you can use to discover what your highest impact activities are…
Step #1: Write Down All Of Your Key Activities
You can’t figure out your key activities unless you know all of your activities. Writing the complete list allows you to see which activities take away from the ones that provide you with the most growth and income.
And don’t just make it a business list. Include everything personal as well. Some things like family time shouldn’t be trimmed (family time should be considered a key activity), but other things such as surfing the web can get reduced or cut down to make room for key activities.
Step #2: Take Some Guesses Based On The Data
After you’ve listed your activities, look at the results from each activity and assess whether it’s a key activity or not. Create a shortlist of activities and prioritize that shortlist.
Not only do you address the shortlist before anything else, but you also increase the amount of time you spend on each activity on that shortlist.
After 1-2 weeks, take a step back and ask yourself how you’re feeling about the shortlist. Do you feel like you’re doing the right work or can you shorten the shortlist? Does something need to be added to the shortlist?
Depending on the activities on your shortlist, it may take months for the results to materialize, but you have to keep asking yourself if this is the best use of your time given what your goals are.
Step #3: Reduce, Delegate, or Eliminate Everything Else
If you’re not growing, you’re dying. With that in mind, if an activity isn’t helping you, it’s hurting you. Some activities are necessary but don’t help you as much as others.
Daily YouTube videos have been a boon for my YouTube growth. For anyone interested in what that schedule looks like and how you can publish more videos on YouTube, you may want to watch the video below.
Daily YouTube videos takes considerable time. To continue creating daily YouTube content, I had to delegate other helpful activities such as posting on Instagram.
My followers enjoy the Instagram carousels, but I don’t have enough time to create those carousels on my own. That’s why I recently delegated this part of my business.
Now I just write the caption, post the carousel, and use the proper hashtags. The more work you can reduce, delegate, or eliminate, the better.
Eventually I’ll delegate my inbox which is something every business owner should think of doing at some point. I’m not making that jump quite yet.
This post was inspired by Jacob Landis-Eigsti who was one of the Side Hustle Paradise speakers. He and over 30 others shared the top strategies you can use to use side hustles to diversify your income and turn your side hustling efforts into your main hustle.
If you want to learn how to add an extra $1,000 or more to your income, you may want to consider getting a Lifetime Pass to get access to all of the sessions.