I was having a conversation with a person today in regards to them trying to find another part time business that they could potentially get into as he felt that what he was doing didn’t off enough time leveraging. Therefore, he was essentially look for those things that you could do once and afterwards it could potentially continue to generate an income even if you weren’t here. Essentially he was looking for a residual income stream.
When it came to opportunities and ideas though I was surprised at how fast he was labeling certain things as a dud even though I knew that a lot of people were successful with them. For example, he tried doing things like stock photography as he often took a lot of photos for fun. But because various sites require you to be approved based on a certain styles/quality which he didn’t initially pass he immediately said it’s not for him.
That made me think at how many potentially good things he could have tried except he didn’t really try too hard before making a judgement. I usually try to give each idea a fair amount of time before making a judgement based on what I think I can accomplish and what I have seen or potentially heard what others did. If the opportunity required you to constantly invest a ton of money then that is a different story.
I know some people have said for free opportunities they usually try it until they make their first cheque. From there they assess how long it took them to get paid and seeing if it is worth the time. Either way, you have to give it a little time to gain some kind of traction I think. No one said being in business for yourself is easy.