Which side hustle should I (24F) decide to focus on? Right now I'm spread too thin...

by billyg0at420. Posted on Sep 12, 2020    0    15


Hi there, I am a 24F. I am in software engineering and want to put all my excess income to SFH rental properties. I always have had a 'side hustle' since high school, but now I have so many average side hustles, and I feel that I would be better off just focusing and sticking with one. These are my current options. Does anyone know how I should decide which one to stick with and see through?

  1. I ran a small e-commerce business (experience with amazon, etsy, ebay). I was thinking of getting back into this, but it can be pretty risky (esp w trade laws), competitive, saturated.

  2. I have my real estate license so could focus on getting more clients (would also help w learning more about investing and make connections). It is just very time intensive and I find talking to people pretty exhausting, but could be good for me.

  3. I have a website/application that I want to make and try to get users. This would help with my technical webdev skills & has to do with real estate. I guess the risk is low cause no initial investment, but would be a lot of upfront work and could potentially make no money.

  4. I have a product idea that I actually think would be pretty amazing based on my past e-comm experience. However the upfront cost and time investment would be pretty big because I would need to do prototyping, find a manufacturer, market, etc. I would probably get it started as a kickstarter. I'm thinking this could be something I do a little further down the line?


Comments

ltsPricedIn

Well since you felt that us knowing your age and gender were the most important things and listed them first and in your title, might I suggest an onlyfans account

  billyg0at420

Muscle memory, I post on dating subreddits in which case age and gender do matter. Sorry if I have offended you.

ltsPricedIn 1

sorry I only give the good advice to 32 year old men, thanks for letting us know though

and apology accepted :)

  billyg0at420 1

I was planning on having a sex change soon. I will ping you in 8 years.

Putrid-Excitement 1

number 3. The product ideas you have to hire freelancers, firms, specialists and manage it all.

  billyg0at420

freelancers to make the web app? or to run it?

Putrid-Excitement 1

I meant to say option 1 and 4 requires freelancers, firms, and specialists. The other two options are things you already are good at. I'd do things you understand, and possibly have knowledge and expertise in. I'd possibly try to make an web app or software for real estate agents. It's a very niche thing where you have cross-functional skill (for lack of a better term) in both of them. Try to be the best equipped to execute and strategize for your type of product.

For example some people know how to understand crowds, and can make an lifestyle brand that is the authority for their customers. Others know how to make good customer service. And others know how to execute a specialist high level (manufacturing specialized product). Whatever you get into, look at the competitors, and see if your understanding is superior in getting a better result.

_kennylofton 1

Perhaps list down the value you think each can bring in the next 5-10 years in terms of health, wealth, connections, things that are important to you etc....

That should be enough to make headway on what to prioritize imo and you can then do away with the rest, pick one and when that becomes successful you can revisit the other in due time with more experience, knowledge, connections and general know how ✌🏿

  billyg0at420 1

That's true. I'm trying to weigh what will pay of in other aspects besides just the money. I feel that the real estate website could be a winner just because it's a combo of both things I want to do in my life. However being a straight up agent for some deals is not that risky... like if I put in the work, I will close deals. Creating a web app is a little more tricky cause I'd be betting on the fact that users will want it. I do want to do surveys and market research first though hm...

_kennylofton 1

If you've got a good feeling for the website and you've already got the tech exp either make a mock prototype or outsource a prototype while you manage the project using user stories etc... speak to a couple of your clients that you already do real estate with and "hypothetically speaking" bring up the website idea and see if it peaks up their interest as something they'd use and from their pick their brains out and get some functions down for prototype v.2

You don't want to bank on just assumptions, but sometimes if your gut instinct says that's the way, then that's the way really.

I think Henry ford said something like, if he's had asked users what they want, they'd just ask for a faster horse, and steve jobs said not all users know what they want/need til lyou give it to them (obvs paraphrasing on both ends) - And if the webapp is low risk in terms of investment... then why not

bpt3 1

I do all of these (minus the real estate license), and I personally don't see a need to focus on any one of them, because I enjoy aspects of each.

I don't actively develop much during my day job any longer, so I do website/product development for my own needs as a real estate investor to keep my skills relatively sharp and because I enjoy it.

I do agree that e-commerce is getting pretty saturated if you're talking about dropshipping, but less so if you have your own product. Flipping dropshipping stores still seems like a good option though.

  billyg0at420 1

I have experience doing amazon fba so that's what I'm referring to... pretty saturated as well but I am definitely not a beginner so hopefully would have a leg up.

bpt3 1

I haven't tried FBA but it seems similar to dropshipping, in that you're just reselling someone else's product that pretty much anyone else can resell. It's not very appealing to me long term.

I'm working on a real estate platform now that can provide leads for properties I'd like to purchase, as well as managing that process, so it covers most of my interests pretty well. If you can find something like that which covers all your interests, maybe that would be something to focus on.

King0573654 4

What does your gender and age have to do with it?

  billyg0at420

valid point, guess I've been posting on too many dating subreddits oops