The Year Ahead

I don’t really like to make the dreaded “New Year’s Resolutions.” Who ever sticks to them? By the middle of the month or even the end of the month if we are lucky, they are abandoned. It is just easier to stick to the same old, same old, isn’t it?

I prefer to think of things I want to accomplish. More of a goal than a resolution.

With that in mind, I have some goals for 2024.

I devoted a lot of energy to getting side businesses off the ground in 2023. The Gift Over Yourself shop on Etsy was a complete disaster. I took it offline on 12/31/23. I am not going to waste any more time or money on that venture.

After my mom passed away, we had a tremendous amount of stuff to sort through. Anyone who has been through the process knows what that’s like. Seeing how she accumulated so much made me think about all the stuff I had. I intend to spend 2024 culling my collectibles and listing them on eBay.

My stuff isn’t worth millions of dollars (unfortunately). For example, I have about a million dalmatian dog figurines - not because I collected them. I had a dalmatian once, and my parents thought I would LOVE dalmatian stuff. Why not make a little money, which I need, and give someone else the opportunity to enjoy something? I bet someone out there does collect dalmatian stuff - you never know!

I started a second blog, 52 Things. This year, I will offer tips and tricks gleaned from my years at a wealth management firm and, well, my life. We old dogs learn a lot. Time to share the knowledge. You can find the blog on this website.

Speaking of knowledge, wow, I have learned SO MUCH. I look forward to learning even more about marketing in the digital age, graphic design, and similar creative topics in the coming year.

It’s also time to look for a job. I work extremely hard now on the website, blogs, eBay, books, et cetera. Unfortunately, these endeavors do not provide the income I need. It is time to see what’s out there. Don’t worry; even if I am lucky enough to find a job, I still intend to pursue all of these projects.

Last but certainly not least – I will return to the world of the Through the Mist series. I have dabbled a bit in recent weeks on a collection of short stories, based upon three characters from that world. The stories might turn into a book for next Christmas. The characters are also whispering to me about the sixth book in the series, so I have some good ideas there. (No, hearing voices in this case is not a sign of mental health issues. It’s part of my process.)

Here's to accomplishing our goals in 2024. Slainté!

I'm a Hustler, Baby

Back in my day….

Not the best way to start a blog post…

Well, it’s true. “Side hustle” is a fancy way of saying what we old-timers used to call “a second job.” I suppose it is a clever way of repackaging the experience, isn’t it?

Endless articles online or adverts on TV or social media make it seem as if side hustles yield boat loads of money for very little work. It is so easy – why isn’t everyone doing it??

Yeah, if you believe that, I have prime real estate in the Florida Everglades that I would love to sell.

It is best to have realistic expectations when approaching side hustles. Otherwise, you may question why you aren’t earning buckets of money as promised, or worse, losing money in the process.

I have tried a few side hustles to bring in cash. Here are three top things to consider.

Don’t quit your day job. Yeah, it is hypocritical for me to say it. For most people, side hustles provide a little bit of extra cash. We’re talking, at best, a few hundred dollars each month, not the THOUSANDS of dollars purveyors of side hustle ventures would have you believe.

Side hustles are a great way to use your existing skills or test ideas for future endeavors. They can provide an outlet for something you love. News flash – most people aren’t working at dream jobs.

Algorithms can be a blessing…and a curse. If you use the services of an online seller, keep in mind that this vendor also wants to make money. They make tweaks to algorithms so that a particular product appears immediately when the customer opens the site or searches for similar items. They are constantly looking for the best way to reach customers, so those customers will always return to that site.

Do they warn you? No. One month, money rains from the sky, and the birds sing. The next month, sales dry up, and your offerings are buried on the last page of the site. What did you do wrong?!

Nothing! You are at the mercy of the vendor. Just keep telling yourself that your product is awesome, because what happened has absolutely nothing to do with quality.

Shipping costs take a deep cut into your profit. If you sell anything that requires shipping, thoughts and prayers. Shipping costs are brutal when you do not have the power to negotiate with the USPS, Federal Express, et cetera, for favorable rates. That power resides with large corporations, not you.

Side hustles are usually one person or small family operations. You won’t have the bargaining power to get an advantageous shipping contract. Some sites like Etsy and eBay offer discounted shipping labels which helps. Still, the costs remain high and will drive up the price of your product. As a result, it is hard to competitively price your product. You cannot compete with someone who can ship for insanely low amounts.

Side hustles are a good way to pick up a few dollars here and there. However, don’t believe the hype, and don’t expect the windfall to continue indefinitely. Odds are high that you will not make enough money to replace income from a traditional job. You also might find that any income you do make is not sustainable without constant care (i.e. new products and services).

It is not a reflection of your work. You are awesome.

Repeat that to yourself when you get discouraged (because you will, frequently). You are awesome.

If you want to take a deep dive into data, two recent articles provided interesting insight about side hustles. Here are the links:

From Bankrate.com:       https://www.bankrate.com/personal-finance/side-hustle-survey/

From NPR:                        https://www.npr.org/2023/10/11/1204264632/amazon-sellers-prices-monopoly-lawsuit