How to earn the "first pot of gold" and expand more sources of sideline income?

2024-05-21

A friend inquired, wondering how everyone managed to earn their first pot of gold in life, and if there are any experiences or lessons to share?

Similar questions include, with the household expenses being relatively high each month and income being quite limited, there isn't much money left at the end of each month. They would like to know if there are any legitimate channels to explore side business opportunities, hoping to broaden the sources of family income.

1. For most people, finding a job is the beginning of earning their first pot of gold.

Most friends follow a step-by-step process: going to school, taking the college entrance examination, and after graduating from university, finding a job.

There is a process of accumulating experience from university to society.If one starts a business right after graduation, the likelihood of failure may be quite high.

In fact, the lifespan of most companies is not very long.

Even companies that reach the level of the S&P 500, which are already world-renowned large corporations, have an average lifespan of only about 18 years.

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Not to mention a startup.

A college student, just entering society, has no experience or qualifications; on what basis can they succeed?

Therefore, in the end, only a very small number of people can succeed in entrepreneurship.Xiaomi's founder, Lei Jun, and others have also advised college students not to start their own businesses right away. Instead, they suggest working for a few years to accumulate experience first.

With work experience, one can identify unmet needs in certain industries and then attempt to address them, which is likely to increase the chances of success.

Finding a job is a great starting point. It allows for the accumulation of experience and ultimately helps in discovering one's lifelong career goal.

2. Exploring side hustles: 5 types of slash careers to amplify your value.

However, it is quite rare in our daily lives to see individuals who have become wealthy solely through their salary income.Because when many organizations distribute salaries, they must consider the issue of fairness. Salaries will increase over the long term, but the rate of increase is limited, and it is difficult to see an order-of-magnitude leap.

If you want to increase your income, taking on a side job is also a way.

As previously mentioned, if you want to explore a side job in addition to your main career, there are five common "slash combinations."

(1) The combination of a stable job and interests

Having a stable job that provides a source of income, while persistently pursuing the things you are interested in.For example, many friends have a stable income from their jobs and take fund investment as a hobby.

 

Screw is a great example.

After graduation, he started working in a bank, and because he was interested in investment, now investment has become his main business.

 

(2) Combination of left brain and right brain

 

• The left brain is inclined towards analytical, reasoning, and other logical tasks, such as engineers.

• The right brain is inclined towards intuitive, imaginative, and other creative tasks, such as artists.This kind of combination is also very common.

For example, Einstein himself was a scientist and also a violin enthusiast.

 

(3) The combination of mind and body

 

For example, having a stable and relaxed main job, and taking on some side work in leisure time.

Like working during the day and driving for DiDi after work, it is a similar pattern.

 

(4) The jack-of-all-trades combination

 There are certain skills that are applicable to any industry, such as the ability to write and speak effectively.

Once these skills are mastered, they can be very helpful no matter what one does.

 

One can also share the process and experiences of enhancing their abilities on social platforms through articles or videos and other forms.

 

By consistently providing value over time, there is the potential to receive rewards in the future.

 

(5) Change perspective and extend one's main business

 

Many professional jobs, such as lawyers, doctors, retired teachers, etc., can extend their main business in this way.For example, if you have a lawyer friend, sometimes you might need a contract and would ask your lawyer friend for help. For the lawyer, they have their main job, but drafting a contract is a way to leverage their expertise and also earn additional income.

So, among these slash combinations, which one is relatively easier?

A stable main job plus a hobby is the easiest for most people to achieve, especially when the hobby is fund investing.

By doing a good job in their main occupation and investing well, one can effectively accelerate the accumulation of family wealth.

In this way, even with only one main job, by working diligently and investing the saved income wisely, the family assets will appreciate over the long term.

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