Start Now, Quit Later: Charles Alexander's Unique Approach to Scaling Up Your Side Hustle

On this episode of Nemo Radio, we're taking a thrilling ride into the heart of entrepreneurship with Charles Alexander.

Charles isn't just any Business Coach - he's someone who's walked the walk, having mentored over 2,000(!) entrepreneurs and built a successful business from the ground up.

Now, he's sharing his hard-earned wisdom via his new book, "Start Now, Quit Later".

If you've ever dreamed of starting (and scaling) a side hustle, or if you're in the throes of building your business, this episode is a goldmine of insights you won't want to miss!

WHAT YOU'LL DISCOVER:

🚀 6:23: Charles unveils his unique mission to help entrepreneurs focus and overcome the daunting odds of business. What's his secret sauce? Tune in to find out.

📘 7:41: We delve into the heart of Charles' new book "Start Now, Quit Later". What makes this guide different from all the other business books out there?

💼 8:17: Charles shares his personal journey from a small town in Tennessee to becoming a successful business coach and author. What were the pivotal moments that shaped his path?

🎯 10:33: Charles reveals the secret he's discovered after mentoring 3,000+ entrepreneurs. This could be the game-changer you've been waiting for.

🔑 11:25: We explore the top reasons why startups fail and how to avoid these common pitfalls. Charles' insights could be the difference between success and failure for your venture.

📈 12:00: Charles discusses his own journey of starting and scaling a successful side hustle. How did he manage to do this without quitting his day job?

🎬 20:45: We dive into Charles' unique business of creating explainer videos for professionals. How did this idea come about and how has it grown?

🧭 30:15: Charles shares his strategies for automating and delegating tasks in his business. How has this helped him maintain a balance between his day job and his side hustle?

🎩 35:00: Charles discusses the importance of humor, personality, and storytelling in business. How can these elements make your business stand out?

🔮 40:00: Charles shares his predictions for the future of entrepreneurship. What trends does he see emerging and how can entrepreneurs prepare for them?

As we wrap up this episode, remember that the journey of entrepreneurship is a marathon, not a sprint. Charles' insights and experiences are a testament to the power of persistence, focus, and smart strategy.

So, are you ready to start now and quit later?

The journey to your dream business starts here!

EPISODE LINKS
Get Charles' new book "Start Now, Quit Later"
Connect with Charles online

The Secrets of Going From Side Hustle to Full Time with Charles Alexander | Evolution of Brand EP040

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The Goods From Charles Alexander

Top 3 Takeaways From This Value-Packed Conversation

  • In today’s fast-paced world, attention spans are smaller and capturing someone’s attention has to be done in 2-3 seconds

  • In order to transition from side hustle to full-time, you have to get started. Often times, we let “paralysis by analysis” stop us from taking action. The only way to discover if your side hustle can support you on a full-time scale is to dedicate time and effort to bringing your ideas to the masses, vetting them for proof of concept, and cultivating them so you can grow and scale

  • If you want to stand out, develop a niche. You can achieve far greater results being an expert and authority in one space versus trying to spread yourself too thin by serving multiple masters. “Have a niche. Stick with it. Dominate that niche.”

Show Notes

2:04 – A moment in Charles’ life when he listened to himself instead of what others told him was right and it led to a major accomplishment

3:00 – An inside look at the Evolution of Charles Alexander and some of the lessons he’s learned along the way
     – Reach out to a local college to discover if they have any local small business development centers you can learn from!
     – Get away from hourly pricing and build a 3-tier package structure for your offerings. Tier 1 is a stripped-down version, Tier 2 is the one you truly want to sell, and Tier 3 is a higher-priced program that’s not your main focus to sell…but if you do, AWESOME
     – Charles creates 90-second animated explainer videos. Check it out!

6:57 – We live in a world where most people’s attention spans are incredibly short. You only have a matter of seconds (2-3, to be exact) to grab someone’s attention in the scrolling world of today!
     – Charles discovered that 90 seconds is the sweet spot for making an impact with video and there is research to back this up
     – Anything below a minute makes it difficult to get your message across and anything above 2-2.5 minutes, it’s hard to hold someone’s attention unless they are fully entrenched in you and your brand
     – EXAMPLE: Let’s say you need to fix a toilet in your home and you can consult YouTube for the steps to do so. When you search, YouTube returns a 3-minute, a 6-minute, or a 9-minute video to watch. Which one will most people choose? The 3-minute video hands down because it’s delivering the solution much faster!

9:54 – The hardest obstacle that Charles had to overcome as an entrepreneur and how overcoming it changed his mindset

11:55 – The importance of having someone in your corner (a coach, for example) that can give you guidance in your efforts
     – The best athletes in the world all have coaches. Tom Brady has a coach for EVERYTHING

13:29 – Some of the big hangups that prevent entrepreneurs from growing
     – Lack of know-how or confidence
     – Lack of planning
     – Lack of marketing
     – Lack of delegation
     – Planning to the point that it prevents execution (“paralysis by analysis”)

19:20 – An instance where Charles helped an entrepreneur find a major breakthrough in their brand building initiatives

20:51 – How has Charles adapted to new technologies and platforms that have become so prevalent in the digital space
     – Devote time to learning how new platforms work. “Playing” and “tinkering” can help you understand how to best use these platforms

26:08 – A major problem Charles has solved in the evolution of his brand that brought value to his community

27:55 – What are some key fundamentals you need to keep front of mind when transitioning from side hustle to full time
     – To even be in this position, you need to get started with your side hustle. Don’t put it off because you have a fear it may not work. You’ll never know until you try!
     – Then, spend REAL time focusing and working on it. Use time blocks where you can focus on the most important work within your side hustle without interruption
     – Before you leave your full-time job, make sure you have a solid understanding of how much money you need to successfully make the transition. Jumping the gun and putting yourself in a tough spot will lead to a return to full-time work
     – A lot of messaging will encourage you to go all-in and go full speed and I know I’ve projected this message to others. BUT…do so strategically. Don’t make a major move without a plan of action in place and proceed in a way that will set you up for success versus setting you further back
     – Obtain a true proof of concept on your product or service to ensure there’s a market for it and people will support it
     – Truly vetting your product or service means going beyond your inner circle for feedback. Those closest to you can be the initial spark that inspires the idea, but you have to reach out beyond them for true feedback that will let you know if you have something to run with
     – You don’t have to roll out a 100% perfect product or service from the start. Get the initial framework in front of people so you can provide value and generate revenue while you gather feedback that will allow you to make appropriate tweaks and changes
     – Your product or service can grow into many additional items you can utilize to generate revenue in the future (a book, a course, a podcast, etc.), but you’ll never know until you bring your original idea to market and cultivate it 
     – Save yourself time and energy by vetting your ideas before investing hours upon hours of time developing something that may not be something people want!

37:40 – One entrepreneurial philosophy that we all need to adhere to in order to succeed in our ventures…

Follow up on Latest Episode from The Accidental Entrepreneur! - Charles Alexander, Entrepreneurship

Charles Alexander’s mission in life is to help entrepreneurs get focused and beat the odds of business failure.

Charles is the Director of the Small Business Development Center at Volunteer State College, where he provides one-on-one business coaching and teaches seminars to help entrepreneurs grow their businesses.

Turn Your Side Hustle to Full-Time Business Checklist

Working with over 1,000 entrepreneurs has helped him become a polished storyteller that uses humor and real-world experiences to educate others.

In addition to coaching entrepreneurs, Charles also owns his own business, creating Explainer Videos for busy professionals.

In addition to listening to the episode, you can watch a video of their discussion on our YouTube Channel.  And be sure to subscribe to support the podcast!

Taking Your Side Hustle to a Full-Time Business With Charles Alexander

Like many aspiring entrepreneurs, you probably have at least one side hustle that you’re trying to grow.

Taking a business from side hustle to full-time is a BIG leap. But it’s not an impossible one.

Especially with Charles Alexander by your side. As the director of the Small Business Development Center at Volunteer State College, Charles helps entrepreneurs grow their businesses.

He’s joining Adam to share his coaching advice with you.

Discover:

  • The top 7 reasons startups fail;

  • What you should never do when testing your business idea;

  • One simple thing 90% of business owners miss;

  • How to build your business to scale the right way;

  • Hidden Dos and Don’ts for taking your business full-time;

  • And so much more!

If you’re ready to turn that side hustle into a full-time gig, tune in! And make sure to grab your free checklist – How to Turn Your Side Hustle into a Small Business.

How to Start and Grow a Side Hustle into a Successful Small Business – Charles Alexander

Today's Guest

Charles Alexander is the Director of the Tennessee Small Business Development Center (TSBDC) at Volunteer State Community College. He provides one-on-one consulting sessions and teaches seminars to help entrepreneurs grow their businesses. Charles is also the creator of Explainer Video for financial advisors, insurance agents, and busy professionals. Charles shared with us the advice he gives entrepreneurs on how to start and successfully grow their businesses. 

Episode Summary

When you dig into the numbers about two out of three small businesses fail. Considering I have three kids at home that have an entrepreneurial spirit that means two of them might not ever move out of the house. There are a few common areas I coach people around that come into the TSBDC. Most entrepreneurs have some level of fear of failure they have to overcome. The next is how to translate their skills into entrepreneurship. Then the most common area is finances, most businesses I see are undercapitalized. The last area is planning, while they may have an idea they are excited about they fail to create a plan that outlines how the business will run and make money.

 

The reason I like coaching people that already have a side hustle going is they have a proof of concept. Regardless of the size of the business, they turned an idea into a product or service that people are paying money for. Also, growing your business on the side while you continue to work your day job is a great way to ensure when you do make the transition that you will still be able to pay your bills. Because your time is more limited with a side hustle you also have to learn more quickly how to automate manual redundant tasks. Which unlocks scalability that is essential to making it when you pivot to full-time entrepreneurship.

 

When it comes to creating a financial plan for your business I tell people to focus on replacing a percentage of their income in year one, in year two double it, and so on until they reach the point they can make the career switch and still live life. Funding a start-up isn’t easy because banks know there is a lot more risk with a new business. The most important number any business needs to be successful though is not funding but cash flow. Most banks won’t even consider lending to a business that’s less than 2-years old because they want to see a history of cash flow.



Resources Shared

From Side Hustle To Small Business with Charles Alexander

Join your host Giuseppe Grammatico and his guest Charles Alexander, the Director of the Small Business Development Center at Volunteer State College. 

In this episode, Charles and Giuseppe talk about the ways that transform side hustles into small businesses. From one-on-one coaching and working with 1,000 entrepreneurs, today, Charles shares his thoughts on mindset building, startups, franchises, prioritization, what it takes to launch a business, and more.

In this episode, you will learn:

  • Charles Alexander – on business coaching and entrepreneurship

  • Mindset setting expectations

  • The ratio of startups vs. franchisees

  • Putting time, effort, and energy in planning the launching of a small business

  • Making a checklist of things needed to be prioritized and accomplished

  • And so much more!

About Charles Alexander:

Charles is the Director of the Small Business Development Center at Volunteer State College, where he provides one-on-one business coaching and teaches seminars to help entrepreneurs grow their businesses. Working with over 1,000 entrepreneurs has helped him become a polished storyteller that uses humor and real-world experiences to educate others.

Charles Alexander’s Contacts and Resources:

Website: https://www.yourcharlesalexander.com/

LinkedIn: https://www.linkedin.com/in/yourcharlesalexander/

YouTube: https://www.youtube.com/channel/UCbWY63hHWwG8i4uJZa5x8-Q

Turn Your Side Hustle Into A Full-Time Business:
https://www.yourcharlesalexander.com/smallbusiness

Explainer Videos for Busy Professionals:
https://www.yourcharlesalexander.com/explainervideo


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