How To Start A SIDE HUSTLE & Make Money From It TODAY! | Rory Vaden & Lewis Howes

Monetizing Influence

Rory Vaden introduces the concept of the "paids," five ways to monetize a social media following. These include selling physical products, leveraging ads and affiliates, and more. He emphasizes that each method has its own advantages and disadvantages 1. Lewis Howes adds that even those with small followings can turn their side hustles into significant income streams by focusing on their unique skills and audience needs 2.

You want to really impact lives. Impact lives. There's no barrier. It's easier than it has ever been in history to impact lives. And you can do it with text, you can record and make it a podcast. You can do video. You're one button away. Get busy.

--- Rory Vaden

   

Revenue Generation

Rory explains various revenue streams, including book deals, brand deals, and licensing, which offer both upfront payments and long-term royalties. He highlights the importance of leveraging one's strengths to choose the right revenue model 3. For example, those good at community building might excel with ads and affiliates, while others might focus on product creation or information marketing 4.

One of the things we look at is, what are my strengths, right? So it's like, okay, if I'm good at logistics and I'm good at building a brand, and I'm good at coming up with product ideas, and I'm good at sourcing inventors and manufacturers, maybe products is good.

--- Rory Vaden

   

Affiliate Marketing

Affiliate marketing is another powerful revenue stream discussed by Rory. He describes it as part of creating a "revenue engine" that can sustain long-term income. However, he also stresses the importance of character development alongside influence to avoid potential pitfalls 5 6. Lewis Howes underscores the value of continuous personal growth and character building as essential components of lasting success.

The human brain is not designed for success. The human brain is designed for survival. Survival is about conserving energy. Success is the opposite. Success is about expending energy, doing things that are uncomfortable.

--- Rory Vaden