![]() For a business, let’s consider a small restaurant, having 30+ footfalls in first month and growing to 100+ footfalls in first 6 months should be considered as goal. For tutor, reaching to 100+ audience with over 100 hours of lecture in first 6 months should be considered as goal, unlike thinking I should make 500 Dollars in first 6 months. Goals should not be inclined to how much you are making passive income to start off, these should be intangible. Goal & Approach – Having regular checkpoints and setting practical goals would be more meaningful while getting into such stints. For instance, same example as above if you are tutor then your time is based on you and your audience availability, if in business then you should be able to monitor the activities throughout the day, so catering the required time and when it is required is most important as your availability while key making Key decisions is critical. Secondly, based on nature of stint you will have to evaluate this aspect. How consistent can you be? Will you be able to dedicate same amount of time even if there is no progress after few weeks? Many great ideas do not execute as managing time is challenge and priority is always your family and then main stream job. ![]() It’s worth to note that you are doing it not on regular time but mostly on spare time. Clearly evaluate how much time you can spend on such stints. Time to Cater – This is not a value add, this is more of a fundamental requirement or a prerequisite. You need to clearly plan out after how many months you will hit the Break-even (No loss No Gain), how to handle when there are consecutive months in losses, how are you managing resources etc. So contextual knowledge makes a significant difference in the process. In first example, investment was more to do with your own time and effort, second one does needs some financial backing along with other two. Same set of questions will have to be thought through with some additional plan of Cash out flow. Another example is you want to setup a small business. Just by having a great deal of technical knowledge does not only suffice. For instance, if you want to be a part time tutor then you should not only restrain yourself with technical knowledge, you should also plan about target audience, how do you reach them, how are the market trends and what is competition doing in this field. Important parameters that one needs to evaluate before starting such projectsĬontextual knowledge – This is very relevant on how knowledgeable you are in that specific area of interest. ![]() Once you are in the GAMEĮvaluating certain parameters during the start of such stint and also during the process would prove to be more beneficial for continuity and the right direction. It is "OK" to fail than to "Not Try", Doers will never quit, will learn from failures and move on in their next stint and eventually become " Achievers". Also it is not mandatory to be successful first attempt, all it matters is are you a Chatter or a Doer. But the fact that they did take the additional step differentiates them significantly from Chatters. Now, a lot depends on how Doers go about it, based on their outcome they will be rewarded or criticized. ![]() Second category is about “DOERS”, they take that extra step to actually get their hands dirty. No matter if it is success or failure, no matter if their vision or approach is still not clear, they go ahead and take that first step. and in some rare occasions their point of views is very genuine. Thinking to start the GAMEįirst being a category of people "CHATTERS" having opinion on absolutely everything, what to do, what not to do, how to do etc. Are there any measures, checkpoints to evaluate such stints on regular intervals. This is a note, more from experiences on how people deal with the “Process of generating secondary income” and its outcomes. Are such stints successful? How were they successful. If not, what led them to failure. Well, this article is not here to offer ways to make secondary income, you have “Google” for that. Whatever the reason may be, these generally act as motivators. There are good reasons for this, either you want to retire early from corporate world (Or) Want to fulfill your dreams which may not be possible from primary income (Or) You are doing just out of passion without much expecting financial benefits for now (Or) You want to convert secondary income as primary over the period of time and get away from what you are doing it currently. Now, trend to have a passive or secondary income is definitely growing as one settles down in main stream decently paid jobs. Quest for money is never ending, after all most of us are in RAT RACE for “Money”
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