Today we’re looking at the side hustle and becoming your own boss. In this episode of Sweat Grit & Hustle, Tracy discusses freedom of choice, basically what to do, where to do it, when to do it, and who to do it with. Find out about all the different ways you can become your own boss from property, multi-level marketing, or starting your own business.

 

KEY TAKEAWAYS

• Don’t sack your boss until you have a plan and are starting to build income.
• If you’re looking to go into your own property business there are a lot of costs associated with it. It’s a lot of hard work and deals can fall through at a moment's notice. You will need to have a considerable amount of cash going into the venture.
• When getting into property it can be advantageous to have a partner who has cash to invest into the property while you’re the one who does the work in renovating and marketing it.
• If you’re new to stocks then you should look into unit trading. Essentially someone else does the investing and you get a share of the profits or losses.
• When you’re looking into crypto currency you have to do your research as there are a lot of people using idea to scam people. Even when investing in a legitimate scheme, make sure you do your research as some companies take large costs and fees from you.
• Beware if any scheme you’re investing in is asking for money in Bitcoin as you won’t know if they’re investing in territories you have the right to trade in. Also beware because it’s much easier for people to just shut down and take your investment.
• Multi-level marketing, or network marketing is selling someone else's products to your network. You don’t own the company and you’re only a distributor. Some use hard sales tactics and have strict rules about how you’re able to sell that. If you go into this then consumable products are better to get involved in, for example skin care or nutrition.
• When looking at franchising it can take up to six figures to get involved. The benefits of a franchise are that all your products and fittings are standardised and the parent company has a consumer base already with a marketing network.

BEST MOMENTS

‘There’s no such thing as no money down anymore’

‘Stock scalping is not for the faint hearted’

‘The most important thing is to do your research’

ABOUT THE HOST

With over 25 years of experience in IT Management and Business Consulting and 10 years plus helping hundreds of property investors through training, mentoring and speaking; Tracy founded Witch Property. Tracy is renowned for her knowledge on property & business and her ability to sell, market and grow the property individuals and companies she works with.

With a wealth of experience in business and property, Tracy has a rare capability of mixing her skills in this space with her knowledge on the mind, to ensure a truly rounded experience for growth and development.

 

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PODCAST DESCRIPTION

This is a podcast for anyone starting out in business with a willingness to learn from others. Hear stories from guests that have gone from zero to hero in their business and find out what advice they have to share. Tracy will also be bringing you stories from everyday people who are just starting, or are only part way through their own story to success.