We often sit down and wonder what kind of hustle to undertake due to the many opportunities all around us. Our greatest motivation being, well… MONEY. We don’t care what we do so long as it’s legit and has returns. In the pursuit of money from different types of hustles, is there a fear of losing focus? Becoming a jack of all trades but a master of none? I believe so. Especially in the early stages of becoming a hustler. I believe once you have had a bit of experience in business, then you can diversify in your hustle, and become an entrepreneur, diving into businesses that you may not be so passionate about but yield profits!
How do we decide on what to do though?
1. Well? What do you like? Write down any options you can think of that are even slightly interesting to you. Picking a hustle that plays to your natural skillsets, potential for success, and personality. Start with what you know! That will help you gain confidence as a hustler and wet your feet and risk appetite.
2. What problem or pain are you solving? Find the problem, and you will know what hustle to be in. If what you are doing is not solving a problem, meaning no one really is buying into it, then it isn’t a business but a hobby. Look around you. A good hustler always looks out for problems and offers solutions for them… For a fee of course!
3. How many other people are doing the same thing? Is it over saturated? That is your competition!
I once met a group of young guys who were making and selling beaded bracelets at an event. That week alone, I had seen so many other young guys do the exact same thing, with the exact same beads, exact same thread, exact same design. I already had many similar bracelets as home. I told them about it and advised them to either do something different or make the bracelets DIFFERENTLY so that theirs stood out.
4. Is it profitable? How many people are being affected by the problem? Goes without saying that the greater the populous that is affected by the problem, the greater the profits because they shall buy into your solution. Basically, look into solving a BIG PROBLEM.
5. Do you want to get involved in a hustle where MANY people pay an average for the good/service or FEWER people that pay a lot of money for the good/service? Yaani a niche? The choice is yours! Just understand what that choice would mean for your hustle.
Overall, take the time to research and learn about your customer, product and market. From there, say a prayer and take the leap!
I wish you ALL the best.
Those are just my thoughts… what do you think? Comment below!
Love. Live. Learn.