Essentially, Timisthesoleinvestorinhisowncompany, andnosmartinvestorwouldput a singledollarinto a newventurewithoutseeing a honestlistofexpectedcostsandrevenues.
IfKendrahadstarted a separatebankaccountforherrideshareincome, andpaidforexpenseslikegas, maintenanceandcarinsurancestrictlyfromthataccount, she'd have a muchclearerideaofhowprofitableherside-hustlereallyis.
IfJennymakes 3,300 USD a monthatWidgets, Inc. andherside-hustleismaking a profitof 2,000 USD a month, she's probablyin a safepositiontogivehertwoweeksnotice.
Thismightseemlike a lotofworkandplanningforsomethingthatwassupposedtobe "ontheside," butit's essentialthatbeforeyouinvestyourtimeandmoneyinto a newventure, youunderstandwhatyou'regettinginto.