No I am not selling anything, I do not have a program or “course” for 49.99, lol. I do though have decades of business experience and before I reveal the #1 rule let me give you the standard disclaimer. You should gather as much advice as possible before making any financial decisions. The views I express on this blog are my opinion based on my experience. They may or may not work for you, this advice is not a guarantee of success.
That out of the way what is the #1 rule? It’s actually more of a question but if you can answer it you essentially have the launch point for a business.
What problem are you solving?
Yes, it’s that easy. Now “problem” has to be taken in context here, it doesn’t necessarily equate to a negative outcome it’s just someone has something they can’t do or obtain on their own that they want (the problem) you provide the means by which they can obtain it (the solution).
So when thinking of a business or a side hustle you have to first think of what problem am I solving here? What am I providing that someone else needs? The core of any successful business is providing that solution for your customer. A lot of these “problems” revolve around time and that’s important here. You might be providing a service, like lawn care, that the homeowner could do but they want to spend their time doing something else.
The problem there is, the buyer wants to spend their time doing something other than mowing their lawn. Remember that important caveat in the rule, many of the problems you would be solving involve saving someone else time. If you can figure out how to use your skills (or time) to solve someone else’s problem (or need) you can charge for that and people will pay.
Think about your life for a moment and all the people you know, what are some of the issues that come up over and over? I know 3 people in my life who don’t drive but need things you obtain at stores. Now Amazon has made this easier for them, still these people want things locally. This is a problem to be solved. One of them pays someone $25 bucks an hour to transport them. This person drives them around 1-3 hours a week, my friends pays them in cash by the trip. I know you’re thinking “can’t they uber, or take a taxi?” yes but this “assistant” (for lack of a better term) knows the client exclusively.
Simply put they know her needs, they have a routine, it works.
That’s one example of many. If you are thinking about starting your own business or side hustle just remember that one important question to ask yourself “What problem am I solving?” If you have a good answer, you have a business.
Thank you for coming by and supporting my blog! Please remember to like, share and subscribe! Want to see another post like this one? Click here.