Greetings everyone!
In response to this prompt:
What side hustle have you tried before and failed in it? Which did you try out and it worked for you? Explain how each of them made you feel.
As for the side hustle I tried that didn't work, the first scenario that came to mind was when I tried joining Amazonkdp. Yes, I call it a side hustle even though it's a blogging thing, like this blockchain, but this one has more intricacies and challenges.
This was about two years ago when a friend in this blockchain, @dianelson messaged me and said she had found a side hustle because she wanted to diversify her income and not put all her eggs in one basket. Before then, we had discussed ways to diversify and make money, so when she said she found someone who would tutor her on Amazonkdp, I was intrigued.
Her eagerness motivated me, and we struck a deal to do it together: pay the fees together and learn the processes together, after all, two heads are better than one.
Her coach charged her a hefty sum, which made me skeptical because if it's just tutoring and not subscribing to any plan, why pay such a large fee? Isn't it the same thing we tutor people for free on HIVE? She convinced me that Amazonkdp is complicated and challenging.
She managed to negotiate the price down, and she paid 80% of it while I paid 20% because I didn't have much money in my account at the time. I promised to refund her the 20%, but she insisted I shouldn't bother because I had already done a lot for her, and it was her way of paying back a little.
In order not to pay or be charged extra, we made it look like it's only her that's being coached, so she would receive the materials/information and forward to me.
We began, and she shared the video tutorial with me on account creation and how to create a Grey account and make it verified for Naira conversion. This first stage didn't take much time, and we followed the processes in the video diligently, even though it was complicated at some points.
The next stage was what spoiled the fun. We were given a passcode containing a series of videos for us to watch. The videos were almost as long as the Game of Thrones series. Lol 😅 For me, anything like that weakens my bones more than taking a weakening medicine.
Out of laziness and tiredness in my eyes from the voluminous content, I decided to let her help us read and summarize, but she was just as lazy as me, and we ended up procrastinating, which eventually led to abandonment.
The money we paid was gone and to be Sincere, we didn't feel bad about it because there was no way we were going to watch all those movie-like videos. Each time we talk about it, laughter takes the order.
Ponzi as a side hustle:
Although I'm no longer involved in this practice, when I gave it a try, it worked out well for me.
Way back 7 to 8 years ago, I was really into phones and online stuff, which opened my eyes and connected me with people who made smart investments in Ponzi schemes. Smart investment here means we calculated and forecasted very well before investing, and hey, I made a lot of money from that. I did lose money too, but it doesn't compare to my gains. The phone I used before this one was bought with Ponzi money, and after a week of buying it, I made the money back.
Investing in Ponzi schemes, if you know how it really works, can be very lucrative. This is not financial advice, please. 🫣
A very odd occurrence made me to opt out of this, it's not even about loosing money.
Thanks for reading.
This is my entry to the Hivenaija prompt of the week