Hey everyone!
My journey in entrepreneurship is only starting, but I wanted to give my thoughts and opinions instead of just asking questions.
Here is my list of business / side hustles to be avoided in my opinion:
1) Dropshipping - It's too saturated, and even if you are successful most of the time the success doesn't last as everyone moves onto the next big thing.
2) Marketing Agency - This one is very saturated, all the popular influencers have been pushing this for years and years now. Most people get into this industry and have no clue about marketing either.
3) Vending machines - Where I live the market is full. The big corporations already have vending machines in all the best places and your chance of finding a good spot of minimal.
4) Copywriting - Due to AI, people don't really want to pay as much to copywriters. And when they do, they want to pay someone with years of experience. A newbie is not going to have much luck in the industry today.
5) Day trading - Unless you have a good amount of money to begin with and are educated then it's not a great idea. However, even though I don't have the best trading skills or much capital, I still enjoy day trading and improving my skills. I think of it more as a hobby for now.
6) Course creation - Unless you are a true expert in an industry and topic there is really no point in pursuing this as you will find it extremely difficult to gain the trust of your audience.
7) Graphic design - I believe AI has pretty much taken over this, and with the tools available anyone with a spare 15 minutes can make their own graphic designs.
8) Mobile valet / car detailing - Turns out where I live this is not in demand. People would rather have a quick wash at the gas station for €15 than pay €150 to someone for a proper deep clean. This business is quite difficult to scale also, and if you live in the city you will spend more time travelling to your customer rather than working.
9) Print on demand clothing brand - Way too saturated and unless you have amazing marketing skills and designs. The profit margin is almost non existant too.
10) Watch rental business - I feel that there is too much risk that comes with this business. People damaging the watches, taking parts, switching it for replicas, etc. I feel that it would just be a massive headache and most of you time would be spent double checking every watch and worrying about if the customer didn't give you a really good replica. Also there is a point to be made that you need quite a lot of money to start this business.
That's just a few, some I've tried to start myself and some I didn't. I'm open to any discussions and debates anyone wants to have, and I'm also curious to hear what businesses you think should be avoided.
My journey in entrepreneurship is only starting, but I wanted to give my thoughts and opinions instead of just asking questions.
Here is my list of business / side hustles to be avoided in my opinion:
1) Dropshipping - It's too saturated, and even if you are successful most of the time the success doesn't last as everyone moves onto the next big thing.
2) Marketing Agency - This one is very saturated, all the popular influencers have been pushing this for years and years now. Most people get into this industry and have no clue about marketing either.
3) Vending machines - Where I live the market is full. The big corporations already have vending machines in all the best places and your chance of finding a good spot of minimal.
4) Copywriting - Due to AI, people don't really want to pay as much to copywriters. And when they do, they want to pay someone with years of experience. A newbie is not going to have much luck in the industry today.
5) Day trading - Unless you have a good amount of money to begin with and are educated then it's not a great idea. However, even though I don't have the best trading skills or much capital, I still enjoy day trading and improving my skills. I think of it more as a hobby for now.
6) Course creation - Unless you are a true expert in an industry and topic there is really no point in pursuing this as you will find it extremely difficult to gain the trust of your audience.
7) Graphic design - I believe AI has pretty much taken over this, and with the tools available anyone with a spare 15 minutes can make their own graphic designs.
8) Mobile valet / car detailing - Turns out where I live this is not in demand. People would rather have a quick wash at the gas station for €15 than pay €150 to someone for a proper deep clean. This business is quite difficult to scale also, and if you live in the city you will spend more time travelling to your customer rather than working.
9) Print on demand clothing brand - Way too saturated and unless you have amazing marketing skills and designs. The profit margin is almost non existant too.
10) Watch rental business - I feel that there is too much risk that comes with this business. People damaging the watches, taking parts, switching it for replicas, etc. I feel that it would just be a massive headache and most of you time would be spent double checking every watch and worrying about if the customer didn't give you a really good replica. Also there is a point to be made that you need quite a lot of money to start this business.
That's just a few, some I've tried to start myself and some I didn't. I'm open to any discussions and debates anyone wants to have, and I'm also curious to hear what businesses you think should be avoided.
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