“I want to be an entrepreneur. What type of blog should I start?”
– Common email question
Easiest businesses for young entrepreneurs
Two to three times a week I get emails from young guys who want to start a business. All of them inevitably ask about blogging or writing eBooks.
While these are perfectly fine ventures, they aren’t the best choice for most people. As I explain in the video below, blogging never guarantees that you’ll make a single cent. Putting 100 hours into something that doesn’t payout can leave a bad taste in your mouth keep you from trying again.
Due to the constant hype surrounding guys like Tim Ferriss and Pat Flynn, many people forget that there are other ways for them to turn a profit. Not every business has to involve blogging or creating a product. In fact, you could do something with zero input costs and proably make more money than most aspiring marketers.
When blogging is a good choice
Before I get into some of the other ventures that you could be doing, I want to point out that there is money in blogging. It just takes a while before you see it.
If you’re wiling to put in the effort, blogging can become a lucrative little side business. A couple hundred bucks a month adds up quickly.
People with the time and the patience to build up a brand can eventually monetize their work. However, anyone looking for quick cash need not apply.
Internet business is a tough racket and one of the hardest markets to break into. You need some laser like discipline in order to survive.
The case for a part-time job
When I go back to Iowa I’m going to work at the same Christmas tree farm that I’ve helped at since I was 16.
The job takes about 10 hours of my week and I enjoy every minute of it. Carrying trees and being outside is fun stuff. There’s really nothing else to do at 2 pm on a Saturday and I can use the extra money for holiday expenses.
If there’s a job you like to do that isn’t too stressful, or time-consuming, go for it. I know a guy who does article writing but also works at the mall part-time. This way he can socialize and meet girls while still getting paid.
If you’re doing some side work for someone else try to find a venture that isn’t very stressful or exerting.
Roofing houses is a tense activity that will wear you down. For a side income it isn’t a very good choice. A part-time job should be easy. Choose something where you have a lot of downtime and can goof-off a little.
Making an infallible business
While blogging is good for long-term profits and a part-time job is great for easy money, there’s a venture that gives you the best of both worlds.
You can start a service based business that pays immediately. And it doesn’t even have to be anything complex. Walking dogs, teaching language lessons, the opportunities are endless.
These little ventures are great because they don’t require any real investment. If you play guitar giving lessons shouldn’t be terribly difficult. You don’t have to spend five years perfecting your craft before monetizing it. Just take a hobby and build a business around it.
These gigs allow you to experiment with business while still guaranteeing that you make money. There aren’t a whole lot of variables to keep you from succeeding.
I’ve said it before and I’ll say it again, there are a million ways to make money.
You can do something trendy, like blog about your vegan bicycling adventures, or you can opt for a more traditional route, like getting a part-time job.
And while all of these ventures are great, there are certain businesses that are better for newer entrepreneurs. The easiest businesses for young people are the ones with the least amount of moving parts.
Teaching yoga or writing articles might not sound as glamorous as making 9 million dollars a day off cheesy eBooks, but it is way easier.
The biggest mistake I ever made was overlooking simple projects. I had grandiose schemes that were too complex to pull off. The only thing they left me with was a sense of despair.
Before you try to take on the world, choose one skill and master it. You can monetize this and live off it while working on your magnum opus.