Lesson Three
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Lesson Three
First off you need to convince yourself that this is your best fit idea! Only once you have serious confidence in your Side Hustle and yourself then can you start selling the idea to others. But once you are happy, the best place to test your idea is with family and friends. Ask people for there time to pitch them your idea, not to buy into it straight away, but just to ask you questions and give their feedback.
It’s ok if you don’t have all of the answers to their questions, and even if there is some criticism, take it as a learning curve. This is your opportunity to fix any obvious issued that you may not have seen or something that may work better.
This is the biggest and scariest question of all! The problem is you can’t guarantee that your idea will be a success. But the more work and research you put in, the better your chances.
Most of the time the issue is not around if people will buy it, but how much can you charge for it. Pricing is everything and you can lose a lot of business just by charging too much for your product or service. The most effective way to start off with a good pricing point is to beat the market value, this means Google!
Go onto Facebook, Takealot, Gumtree, LinkedIn, Google, and any other online marketplace to find your competitors. Search for the exact same product or service you are wanting to create and see what the current price is going for. As you are starting out, this market value should be your ceiling, rather start off a bit lower to gain some new customers and you can then start to charge more as you become more popular and in demand.
One thing is for sure – It is going to be HARD!
There is no escaping the many, many hours you are going to need to put into setting yourself up for success. But no one is going to pay you extra money just for sitting around watching YouTube so you may as well try something that has a big potential to change your life forever!
The KEY to a successful Side Hustle is to keep your actual monetary costs as low as possible when starting out. This means if it doesn’t work out then you have only lost your time, with some valuable lessons received. Use what you have at home, get creative with what is free out there on the internet (We will show you soon!), and pull in favours from friends and family where you can.
Either way, we are here to hold your hand through the process! Good job for starting your journey – It is going to be fun….
Where is the best place to find out your market price value?
