Don't Start a Side Hustle! by Brian Page

Author:Brian Page
Language: eng
Format: epub
Publisher: Harpercollins Leadership
Published: 2022-08-10T00:00:00+00:00

18

ARE YOU A PRODUCER OR A CONSUMER?

THERE ARE TWO SIDES TO every transaction. When money moves from one hand to another, value is exchanged. The person giving the money exchanges it for something that they believe is of equal or greater value than the cash they are giving up.

Most people only live on one side of this equation, as consumers. They are always giving money to get something, rather than being on the receiving end of money. These individuals aren’t looking for opportunities to give value; they simply are looking to consume.

Here is why I want you to become a producer: producers get paid. When you go see a movie, you hand over $14 and get a couple of hours of entertainment (consumer). But the production company makes millions on the film (producer). When you call an Uber you get from point A to point B (consumer), but the dudes on the other end who created the app end up billionaires (producers).

Uber is number one in ridesharing and Lyft is number two, but who owns the sixth best ride hailing app in the world? Does it matter? That dude, even though he’s a small producer compared to the big boys, likely earns more than 99 percent of the users on his app. See where I’m going here? Being a small-time producer still beats the pants off being a consumer.

Every wealthy person is a producer first and a consumer second. And when they do consume, they aren’t doing it like you and me. They can afford to consume luxury homes, mega yachts, and jets. They get to consume at those levels because they’ve produced at even higher levels. They thrive and become super wealthy because they serve such a vast population of consumers.

So what does that look like in practical terms? How can you become a producer? Stop paying rent; collect it. Don’t buy products, sell them. Read books and then write one. Don’t become a freelancer, own a freelance website (the average freelancer makes $39,000, whereas Upwork is worth $1.5 billion). Don’t become an employee, employ others (the average full-time worker makes $46,000 a year, versus the millions or billions that those who employ others make). Don’t become a house cleaner, own a house cleaning company. By cleaning thirty-one homes a day with a team, you can make millions a year. In the coming chapters I’ll show you multiple paths from which to choose so you can become a producer yourself.

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