By Melissa Keane
How many of us have been sold the get rich quick dream or if not so overt…how about the earn a healthy passive income dream.
We recently posted an article called ‘new age wealth‘, where we discussed the value of having a lot of wealth which we now equate with a lot of money. Truth be told in the modern age its actually quite possible to have a side hustle and passive income stream for very little capital or investment in order to grow your wealth. This can be through maybe forex trading, freelance writing or social media marketing.
Its much easier in the modern world to grow a business remotely than it ever has. With the advent of social media and follow on remote services such as ecommerce, upwork, fiver etc. Indeed many persons make a successful living with these tools. But can you do it?
Yes and no. When a person hears about a guy who made 10 million dollars off leasing person’s properties on airbnb or a person who made 50k in sales in their first month of ecommerce, we immediately think that this could be us when there are a whole lot of factors that say…no it cant be you.
Some of these factors are 1. paid advertising-they don’t tell you that they spent over 30k in advertising 2. Early niche bubble-many people view online businesses as a stock in trade get in, get paid, get out-they attack a market need capitalise on it and get out. 3. Connected-many of these persons have built up influencer status-its easy for an influencer to establish a business as they already have a following…take for eg. kylie jenner and her make up brand or youtube sensation starting his own video training academy.
Do you now see why you can’t do it too? You would soon realise that many of these businesses soon move to ‘guru’ status. They made their money, have their following now they take money from you to teach you the same. This tells me one valuable lesson that many of these businesses are not sustainable in the long run
If they were they would still be doing it and not selling to us. This means they get a ‘one off’ showing but hardly repeats, it may simply be that the service did not yield for the customer what they expected or maybe its something persons don’t need regularly like a boxing glove brand.
They may be brilliant at what they do and brilliant for capitilising on a trend but remember trends pass…nothing is wrong if we catch one and ride the wave a bit but don’t count on a guru telling you how to…they have already catched theirs.