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How making money works (investigation into side hustles). - Coggle Diagram
How making money works (investigation into side hustles).
You make money when you provide value to people who are DELIGHTED to pay for that value.
Products
Services
Pro: Faster Monetization, Non-J-Curve Business
Con: higher friction sales process, must convince someone to part with their money
Designer: (ex: Thumbnail Designer, Icon, Logo, Graphics, Templates, Web Designer)
Research Assistant (mostly from high product people, look for jobs or cold-email your favorite content makers).
Remote Sales Rep
Content
Creator / Writer
Newsletter/Blogger
Start writing about your interests regularly
Build an audience interested in your work
Start monetizing through sponsorships or ads
Ads
Sponsorships
Consulting
Curator
Start curating content
Build an audience/niche
Sell other people's products/services/content
Con: J-Curve business models, a lot of up front effort before making money. Low friction business.
Pro: Easier bar of entry
Principles for a successful business or side hustle
Flixibility
Fun
Finance
Enabled by the Internet
Channels
Social Media
Instagram
TikTok
Work For Hire Services
Fiverr
UpWork