606: Side Hustle Stacking: How One Extra Income Stream Can Lead to More
May 6, 2024
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Entrepreneur Bjork Ostrom discusses 'side hustle stacking' to diversify income streams. He shares how his food blog led to multiple successful online businesses. Topics include maximizing ROI, focusing on existing ventures, financial tracking tools, and the power of incremental growth.
Diversifying income streams by creating complementary businesses rooted in expertise leads to sustained growth.
Strategic alignment of personal interests with business ventures and continuous improvement are vital for long-term success.
Deep dives
Diversifying Side Hustles through Business Expansion
Starting with a singular successful blog, the podcast guest diversified by creating Food Blogger Pro, aiding others in the food blogging space. By expanding services with software like NutriFox and WPTasty, the guest exemplified how to stack side hustles to leverage expertise and client needs.
Strategic Entrepreneurial Insights on Success
Discussing the importance of adjacent and complementary business ventures, the podcast highlights the significance of strategic alignment with personal interests in entrepreneurship. The concept of relentless improvement is emphasized through daily efforts to enhance skills and services, showcasing long-term commitment and growth.
Innovative Marketing and Tools for Business Growth
Delving into effective marketing tactics, the podcast endorses personal outreach and effective communication as powerful tools to develop partnerships and further business goals. Embracing resources like Ahrefs for search optimization and Monarch Money for financial management are recommended to streamline operations and enhance productivity.
Continuous Improvement and Long-Term Scaling
Encouraging the audience to focus on gradual progress and consistent growth, the podcast underscores the power of incremental improvement over time. Embracing the philosophy of getting a tiny bit better every day, the guest advocates for sustained efforts and compound effects to achieve long-term success in entrepreneurship.
This 10-year-old blog has been a launchpad for Food Blogger Pro (a guide for aspiring food bloggers), Clariti (for optimizing your site's content), and the holding company, TinyBit.
And this is the framework he uses to decide if an idea is worth pursuing.