How to Start a Business From Your Own Home.

Author

Cashflow Chronicles
September 27, 2024

Week’s Top Picks

Quick Entrepreneurial Tales, Investment Stories, Interesting Stuff & Resources to Spark Your Fire

First up, the most popular news stories and top AI tools to accelerate your entrepreneurial journey:

(1) Meta just announced over 20 new AI-powered features in progress, spanning search, messaging, ads, and more (link)

(3) 31-year-old mom left her job for a side hustle bringing in $101,000 a month working only 30 minutes a day (link)

Top AI Tools This Week 🔥

🤖 Parsio automates data extraction with its AI-powered document parser (link)

🤖 PIXLR is your free online AI image generator and photo Editor (link)

🤖 Circleback AI takes notes about your meetings for you with AI (link)

🤖 Shorts Generator helps you create viral short-form content in minutes with their powerful AI (link)

Hey Cashflowers,

This week we’ll be diving into the way to start a business online in just a weekend. This includes how to learn a skill, build a following, and monetize your skill all on your own with as little as a phone and a Wi-Fi connection.

Let’s get into it!

How it Pick a Skill

What Skills are Monetizable?

Funny you ask, this one isn’t a hard pick.

In reality, everything is monetizable, it just depends on what market you put it in, how long you stick with it, and if you can position it right.

BUT some things are better than others.

For example, copywriting, digital marketing, and short-form content editing are all skills that nearly every online and physical business needs.

Some examples of skills you should stay away from are things like hobbies you have that you excel in, or things people don’t take seriously.

Say you’re really good at pitching in baseball.

That’s a good skill, but to monetize it would be coaching by the hour, or selling a coaching program, or charging per physical appointment, and that’s not what you want.

Another point is that once you reach a certain point, you can’t scale something like that, to an extent.

We aren’t saying you can’t, it’s just not as easy and doable with coaching baseball as it is with other skills.

The best way to find a monetizable skill is to look at three things:

  1. Need: Do people need what you excel in? If your skill is something people need, then there is a market for it. It’s hard to sell something in a store without customers.

  2. Profit: The best way, by far, to make money yourself is to make others more money in the process. Take digital marketing for example. If you can step into a company with digital marketing knowledge and sell more of their products with that skill, you’re making them more money, and yourself money as well

  3. Fit: You’ll never succeed with something you can’t stand. If you’re working for clients or trying to learn a skill you don’t care for and don’t enjoy, you’ll quit. If you don’t remember our last newsletter, quitting is the #1 reason why businesses don’t succeed.

Learn a Skill

How do I Learn That Skill Quickly?

With the amount of information on the internet today learning a skill isn’t the problem, it’s the least of your worries.

Find videos on YouTube and creators on social media who own and run businesses that use the skill you want to learn and learn from them, plain and simple.

An easy example is this YouTube video:

It’s a breakdown of how someone scaled a store on Shopify to do over half a million in sales in 4 months.

In that video, you’ll find different strategies and tactics to use to grow and scale an eCommerce brand, if that’s the route you decide.

Take notes on videos like these and highlight key techniques that’ll help you learn this skill.

With this strategy, you can learn a skill in a weekend easily. We aren’t saying you’ll be a master, but you’ll be proficient enough to offer these services to small brands and creators that might need your service if it fits.

Apply the Skill

How do I Actually Make the Money?

Don’t think about the money.

Plain and simple as that.

If you’ve ever heard the saying: “The person who loves the journey will go farther than the person who only wants the result”

That’s exactly the case here. Make a social media account on one platform, post about your journey learning your skill, reach out to brands and creators who could use your skill, and stick with it.

If you fall in love with progressing and learning your skill and learning to sign clients you’ll have no problem making money and monetizing your skill.

On the flip side, if you worry about the money and a month later haven’t made any, it’s going to be too easy for you to quit and move on back to your previous life or previous route.

Now before we finish off, there’s a reason we don’t give you an exact blueprint for everything.

You have to find what works for you, as everyone is different, and if we give you an exact blueprint for digital marketing, it won’t work for everyone.

There are plenty of great resources out there for you to find. (hint: Tweets of the week)

So with that, until next time Cashflowers

Cheers!

Cashflow Chronicles

Tweets of the Week

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