{"id":19362,"date":"2025-01-09T15:36:20","date_gmt":"2025-01-09T15:36:20","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/finance\/side-hustle-stacking-how-one-extra-income-stream-can-lead-to-more\/"},"modified":"2025-01-09T15:36:20","modified_gmt":"2025-01-09T15:36:20","slug":"side-hustle-stacking-how-one-extra-income-stream-can-lead-to-more","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=19362","title":{"rendered":"Side Hustle Stacking: How One Extra Income Stream Can Lead to More"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-538997 size-medium alignright perfmatters-lazy\" alt=\"Bjork Ostrom Image\" width=\"300\" height=\"300\" src=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Bjork-Ostrom-300x300.jpeg\" srcset=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Bjork-Ostrom-300x300.jpeg 300w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Bjork-Ostrom-150x150.jpeg 150w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Bjork-Ostrom-65x65.jpeg 65w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Bjork-Ostrom.jpeg 400w\" data-sizes=\"(max-width: 300px) 100vw, 300px\"\/><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-538997 size-medium alignright\" src=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Bjork-Ostrom-300x300.jpeg\" alt=\"Bjork Ostrom Image\" width=\"300\" height=\"300\" srcset=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Bjork-Ostrom-300x300.jpeg 300w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Bjork-Ostrom-150x150.jpeg 150w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Bjork-Ostrom-65x65.jpeg 65w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Bjork-Ostrom.jpeg 400w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/><\/p>\n<p>How can one income stream turn into a whole lot more?<\/p>\n<p>Simplify first, diversify second\u2014that\u2019s an idea I have always advocated on the show.<\/p>\n<p>The first step towards diversifying is to have something working. But how do you know it\u2019s time to diversify?<\/p>\n<p>That is exactly what <a href=\"https:\/\/www.sidehustlenation.com\/blogging-in-your-spare-time\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"66133\">Bjork Ostrom (our previous guest from Ep 46)<\/a> has done as he (and his wife Lindsay) masterfully <strong>\u201cstacked\u201d multiple online businesses<\/strong> that have developed out of their original food blog, <a href=\"https:\/\/pinchofyum.com\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"66134\">Pinch of Yum<\/a>.<\/p>\n<p>This 10-year-old blog has been a launchpad for <a href=\"https:\/\/www.foodbloggerpro.com\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"66135\">Food Blogger Pro<\/a> (a guide for aspiring food bloggers), <a href=\"https:\/\/clariti.com\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"66136\">Clariti<\/a> (for optimizing your site\u2019s content), and the holding company, <a href=\"https:\/\/tinybit.com\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"66137\">TinyBit<\/a>.<\/p>\n<p>And this is the framework he uses to decide if an idea is worth pursuing.<\/p>\n<h2\/>\n<ul>\n<li><strong><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/the-next-wave-your-chief-a-i-officer\/id1738550343\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"66138\">The Next Wave<\/a> \u2013<\/strong>\u00a0Your personal Chief AI Officer for implementing AI to drive business growth.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-538996 size-medium perfmatters-lazy\" alt=\"Next Wave Podcast Image\" width=\"300\" height=\"300\" src=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Next-Wave-Podcast-300x300.jpg\" srcset=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Next-Wave-Podcast-300x300.jpg 300w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Next-Wave-Podcast-150x150.jpg 150w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Next-Wave-Podcast-65x65.jpg 65w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Next-Wave-Podcast.jpg 626w\" data-sizes=\"(max-width: 300px) 100vw, 300px\"\/><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-538996 size-medium\" src=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Next-Wave-Podcast-300x300.jpg\" alt=\"Next Wave Podcast Image\" width=\"300\" height=\"300\" srcset=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Next-Wave-Podcast-300x300.jpg 300w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Next-Wave-Podcast-150x150.jpg 150w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Next-Wave-Podcast-65x65.jpg 65w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2024\/05\/Next-Wave-Podcast.jpg 626w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/><\/p>\n<ul>\n<li><a href=\"https:\/\/indeed.com\/sidehustleshow\" target=\"_blank\" rel=\"nofollow noopener\" data-lasso-id=\"66139\"><strong>Indeed<\/strong><\/a> \u2013 Start hiring NOW with a $75 sponsored job credit to upgrade your job post!<\/li>\n<\/ul>\n<p><a href=\"https:\/\/indeed.com\/sidehustleshow\" target=\"_blank\" rel=\"nofollow noopener\" data-lasso-id=\"66140\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-536322 perfmatters-lazy\" alt=\"indeed\" width=\"470\" height=\"246\" src=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2023\/10\/indeed.jpg\" srcset=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2023\/10\/indeed.jpg 470w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2023\/10\/indeed-300x157.jpg 300w\" data-sizes=\"(max-width: 470px) 100vw, 470px\"\/><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-536322\" src=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2023\/10\/indeed.jpg\" alt=\"indeed\" width=\"470\" height=\"246\" srcset=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2023\/10\/indeed.jpg 470w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2023\/10\/indeed-300x157.jpg 300w\" sizes=\"auto, (max-width: 470px) 100vw, 470px\"\/><\/a><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.airbnb.com\/\" target=\"_blank\" rel=\"nofollow noopener\" data-lasso-id=\"66141\">Airbnb<\/a>\u00a0<\/strong>\u2013 Start an Airbnb business and earn money as an Airbnb Host!<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-534990 perfmatters-lazy\" alt=\"\" width=\"500\" height=\"186\" src=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2023\/07\/airbnb_logo_detail.jpg\"\/><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-534990\" src=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2023\/07\/airbnb_logo_detail.jpg\" alt=\"\" width=\"500\" height=\"186\"\/><\/p>\n<h2><span id=\"The_Shiny_Object_Test_3_Questions_to_Evaluate_Your_Next_Project\">The Shiny Object Test: 3 Questions to Evaluate Your Next Project<\/span><\/h2>\n<h3><span id=\"1_Is_the_adjacent_thing_making_you_better_at_the_main_thing\">1. \u201cIs the adjacent thing making you better at the main thing?\u201d<\/span><\/h3>\n<p>If you can create another task that complements your initial one, it reduces the chances of losing out on ROI since it\u2019s likely that your current task is <strong>making progress<\/strong>.<\/p>\n<p>But don\u2019t simply spread your wings. Focus and go deep on what works rather than constantly seeking new opportunities\/diversifying too quickly.<\/p>\n<p>If you find something successful and engaging, continue to pursue it and extract as much value from it as possible before exploring other opportunities.<\/p>\n<h3><span id=\"2_Consider_Who_You_Are_as_an_Individual\">2. Consider Who You Are as an Individual<\/span><\/h3>\n<p>Follow your excitement.<\/p>\n<p>What excites you? What are you curious about?<\/p>\n<p>If you don\u2019t have a good understanding of yourself, it\u2019s easy to lose interest and give up on something in the long run.<\/p>\n<h3><span id=\"3_Is_It_Time_to_Diversify\">3. Is It Time to Diversify?<\/span><\/h3>\n<p>Diversifying income streams is especially important for online businesses that are subject to algorithm updates and policy changes.<\/p>\n<p>You\u2019re basically creating a financial safety net.<\/p>\n<p>Ideally, these new streams should be unrelated to your core business, like Bjork venturing into SEO tech tools like Clariti, as opposed to his food blogging business.<\/p>\n<p>Or like investing in real estate while you\u2019re doing an online business.<\/p>\n<h2><span id=\"Round_2_Donate_a_Business_Idea\">Round 2: Donate a Business Idea<\/span><\/h2>\n<p><em>\u201cWhat are the support mechanisms you can build adjacent expertise within that realm that can fast-track you to revenue by having it be service-based or productized service?\u201d<\/em><\/p>\n<p>Provide a specialized service\/product that can support the needs of the \u201cparticipants\u201d in an industry.<\/p>\n<p>For example, with more and more people becoming content creators, there\u2019s a need for things like organizing files, understanding analytics, editing videos, and backing up data.<\/p>\n<p>Optimizing things like Google Analytics and data pipelines could make for an interesting agency or SaaS offering to creators who have very specialized needs.<\/p>\n<p>It\u2019s like finding ways to help them do their job better by offering useful services or tools.<\/p>\n<p>What services could you \u201cproductize\u201d to sell to these new infopreneurs?<\/p>\n<h2><span id=\"Round_3_The_Triple_Threat\">Round 3: The Triple Threat<\/span><\/h2>\n<p>Bjork promoted these three things:<\/p>\n<ul>\n<li><strong>Marketing Tactic:<\/strong> manual outreach and actually having real 1-on-1 conversations with potential partners and customers to understand their needs and goals. It\u2019s not scalable but has been effective.<\/li>\n<li><strong>Tool: <a href=\"https:\/\/monarchmoney.com\/hustle\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"66142\">Monarch Money<\/a><\/strong> \u2013 an all-in-one dashboard for tracking finances across your personal and business accounts.<\/li>\n<li><strong>Book: <a href=\"https:\/\/www.buybackyourtime.com\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"66143\">Buy Back Your Time by Dan Martell<\/a><\/strong> \u2013 Resource for those seeking strategies to delegate tasks and free up their time for strategic work.<\/li>\n<\/ul>\n<p>I hope you were able to take away some practical tips and strategies to implement in your own side hustle journey.<\/p>\n<p>Keep chipping away at your goals each day, stack on complementary income streams when it makes sense, and don\u2019t be afraid to experiment with new ideas that excite you. Extraordinary things can happen when you show up with discipline over time.<\/p>\n<h2><span id=\"Bjorks_1_Tip_for_Side_Hustle_Nation\">Bjork\u2019s #1 Tip for Side Hustle Nation<\/span><\/h2>\n<p><em>\u201cGet a tiny bit better every day.\u201d<\/em><\/p>\n<h2><span id=\"Episode_Links\">Episode Links<\/span><\/h2>\n<h2\/>\n<div class=\"fl-builder-content fl-builder-content-25051 fl-builder-template fl-builder-row-template fl-builder-global-templates-locked\" data-post-id=\"25051\">\n<div class=\"fl-row fl-row-full-width fl-row-bg-none fl-node-5ec84dead2de7 fl-row-default-height fl-row-align-center\" data-node=\"5ec84dead2de7\">\n<div data-rocket-location-hash=\"b6d668e2de113fc136b934c6389f61f4\" class=\"fl-row-content-wrap\">\n<div class=\"fl-row-content fl-row-full-width fl-node-content\">\n<div class=\"fl-col-group fl-node-5ec85cf38cf93\" data-node=\"5ec85cf38cf93\">\n<div class=\"fl-col fl-node-5ec85cf38d015 fl-col-bg-color fl-col-small\" data-node=\"5ec85cf38d015\">\n<div class=\"fl-col-content fl-node-content\">\n<div class=\"fl-module fl-module-photo fl-node-5ec855cb685e1\" data-node=\"5ec855cb685e1\">\n<div class=\"fl-module-content fl-node-content\">\n<div class=\"fl-photo fl-photo-align-center\">\n<div class=\"fl-photo-content fl-photo-img-png\">\n\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" class=\"fl-photo-img wp-image-531264 size-full\" src=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2020\/05\/side-hustle-show-cover-art-2022-300-compressed.png\" alt=\"side hustle show cover art\" height=\"300\" width=\"300\" title=\"side hustle show cover art\" srcset=\"https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2020\/05\/side-hustle-show-cover-art-2022-300-compressed.png 300w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2020\/05\/side-hustle-show-cover-art-2022-300-compressed-150x150.png 150w, https:\/\/www.sidehustlenation.com\/wp-content\/uploads\/2020\/05\/side-hustle-show-cover-art-2022-300-compressed-65x65.png 65w\" sizes=\"(max-width: 300px) 100vw, 300px\"\/>\n\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>How can one income stream turn into a whole lot more? Simplify first, diversify second\u2014that\u2019s an idea I have always advocated on the show. The first step towards diversifying is to have something working. But how do you know it\u2019s time to diversify? That is exactly what Bjork Ostrom (our previous guest from Ep 46) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[307,10929,10975,4086,2641,5070,11499],"dealstore":[],"offerexpiration":[],"class_list":["post-19362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-extra","tag-hustle","tag-income","tag-lead","tag-side","tag-stacking","tag-stream"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Side Hustle Stacking: How One Extra Income Stream Can Lead to More - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=19362\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Side Hustle Stacking: How One Extra Income Stream Can Lead to More - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"How can one income stream turn into a whole lot more? 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