The Key To Side Hustle Success: Focus On What You Know

passion online businessI had two interesting exchanges with readers over the last several weeks, and I wanted to share a key takeaway from them.

First, I had a reader ask:

Why don’t you tell us how you went about choosing the web sites you bought last year, why they were doing so poorly at that time, and how they are doing now. It might be good to explain how you went about monetizing them, and why you  chose certain ads for that purpose.

The second reader asked the following:

How do I get started with an online business and how do I figure out which one is best?

And what do you think my answer was to both of them?  Focus on what you know!

 

The Key To Success

The absolute key to success in everything I do is focusing on what I know.  Every website I own is based around some experience I’ve had or passion I want to share.  I’m not the only one who thinks this.  Warren Buffett is famous for investing in what he knows – he usually avoids hot tech stocks because he doesn’t understand them.  Instead, he focuses on consumer goods and railroads – things he knows a lot about.

 

Where To Start

When starting something, there is always an unknown.  You can’t know everything.  But you can do some simple things:

  • Let your passion shine through (this can especially help online as you work through the technical stuff)
  • Ask others
  • Read a lot
  • Find a mentor
  • Pay for advice or help by hiring a coach or taking a course

Last year, I bought several eBooks and took an online course.  I’m all about continuing my education online.  There’s always stuff to learn, and sometimes it’s worth paying.

 

Final Thought

Finally, if you still just know know, you could also focus on what you don’t know.  Some of the most successful bloggers started by using their blogs to chronicle their learning – because they didn’t know.  It’s why JD Roth started Get Rich Slowly, and it’s why Pat Flynn originally started his Green Exam Academy site.  These guys didn’t know, but used their blogs to chronicle their learning.

There is so much potential and opportunity, don’t let fear of the unknown hold you back.

What are you passionate about?

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Comments

  1. I could not have agreed to this post more. There is no doubt that focusing on what we know would bring a log of progress faster. Focusing on a particular strong point of blogging is helpful! I believe that every blogger that wants to succeed should abide by this principle!

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  2. There is a lot of power in doing what you know. If you want to know more so you can potentially be successful elsewhere, learn!

  3. I think people underestimate the value of their accumulated knowledge on a specialized subject. People really are interested in the right content or services… just gotta get it out there! Nice post : )

  4. That’s exactly how I built Phroogal was to focus on what I know personal finance and credit unions.

  5. This is great advice. In my law practice, I only do what I know well; I do not dabble in areas other than tax, estate and corporate law. Just looking for trouble if I do. But we still need to keep learning and growing every day. Very well done post.

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