whether you have a desire to or need to generate additional revenue, eventual and new entrepreneurs have to be creative in financing their own lives by leveraging their resources to avoid going back to a dead end job. there are many options to leverage your resources on your terms and still remain in control of how you spend your time each day. opportunities from freelance work to delivering packages but the one I choose to dissect for this entrepreneur community is the rideshare (gig) economy, specifically Lyft. my hypothesis is that Lyft is a good ‘right now’ hustle. You must be strategic, however, as there are pitfalls to avoid if you decide to partner with Lyft as a driver.
you’re all in...
so you’ve committed to the assertion that you are irrevocably unemployable and you want to stay that way. You’ve decided your last dead end job was truly your last dead end job. in all of your courageous tenacious glory you are actively creating your fulfilled life as a thriving entrepreneur. you worked your exit strategy, put your plan in motion and have successfully transitioned to a full-time entrepreneur awaiting your big launch day for the product or service you’ve created. maybe you’ve already launched and are now on the daily grind to grow your business.
there’s a but…
things may be going well enough in the process however you are thinking about how best to use your resources while being resourceful. the resources I speak of are your knowledge, skills, abilities and your time. as a novice entrepreneur you may want to earn and save additional cash for a rainy day in the event life happens and an unforeseen event occurs that impacts your financial stability. i shared how that scenario was my trigger to begin a driving partner relationship with Lyft in this post. another consideration is to create a right now hustle that pays your most basic bills while aiming to create a business that will ultimately allow for and support your coveted lifestyle. then there is the need to generate cash to bootstrap immediate investments necessary for your business while keeping your actions and intentionality focused on the business. so the question becomes is Lyft worth your time?
i’ll let you be the judge…
immediately into my decision to begin driving for Lyft, I knew I would chronicle my experience and share it with you. if I was considering taking on the Lyft gig as a newly established entrepreneur, I’m sure I’m not the only one. my intention isn’t to sway you one way or the other but to give you enough information to make an informed decision for yourself on the implied value of being a Lyft driving partner. in life there are pros cons and everything in between. driving for Lyft to supplement your income as you pursue your dreams is no different. there is good and bad, ups and downs and a lot of gray area when it comes to gigs such as Lyft.
in future blog posts I’ll share everything I learn or experience as a Lyft driver from the ease of getting signed up, getting comfortable driving people you don’t know around and the best and worst passenger types. i'll also tell you how to use Lyft as a brilliant marketing and networking tool, how to really make mo’ money, how to drive smarter not longer and avoid wasting your time, the best times to drive, controlling your cash flow, getting help when you need it (support and the Hub), Uncle Sam’s share of your earnings and keeping the main thing (your business) the main thing.
be sure to sign up so you don’t miss a post in the Gig blog series. if you’ve already decided you want to start driving for Lyft, don't leave any money on the table. use this referral link before you sign up. if you want to stick to being a passenger and save some money, use the same link.