Hey everyone! 👋
So, I came across this intriguing situation: A 29-year-old with no kids, a stable full-time job in public safety, and about **$50K saved** up! 💰 Sounds like a great position to be in, right? But what to do next? It looks like they’ve been diving into various resources—books, videos, the whole nine yards—yet still feel stuck in the starting blocks of entrepreneurship. 🚦
Here’s the kicker: they’re feeling a bit overwhelmed by the plethora of options and the *guru* vibes that come from many online sources. **Sound familiar?** 🤔 Many of us have been there, unsure which path to take with our hard-earned savings. The fear of making the wrong move can be paralyzing!
**Common Pain Points:**
– **Information Overload:** It’s easy to get lost in the sea of online content (especially when it seems so manufactured).
– **Lack of Experience:** Transitioning from a job in public safety to anything entrepreneurial can feel daunting, especially with no formal business or marketing background.
– **Fear of Failure:** Investing your savings into something new always carries a risk, and that’s intimidating!
**Possible Solutions:**
– **Start Small:** Consider investing in low-cost side hustles to get your feet wet. Think of **print-on-demand** or **affiliate marketing**—these require minimal upfront investment!
– **Educate Yourself:** Platforms like **Skillshare** or **Udemy** have courses on specific areas of interest without the “guru” nonsense. You can learn at your own pace! 📚
– **Connect with Others:** Join forums or communities (like this one! 🙌) to share experiences, tips, and mentorship opportunities. Networking can open doors to insights you might not find in videos.
So, if you were in this position with **$50K saved** and plenty of free time, **what would YOU do?** 🤷♂️ Share your thoughts, experiences, or even any resources you’ve found useful! Let’s spark a conversation that can help us all navigate this journey! 🔍✨
And hey, if you’ve structured a successful side hustle or investment strategy, drop those golden nuggets below! 💬
**#SideHustle #InvestSmart #FinancialFreedom #EntrepreneurJourney #StartUpLife #PersonalFinance**
I think you should be looking at what your skilled at ? Personally or professionally..
I went trough a dropshipping phase, and many others.. until I realized I’ll be unbeaten in what really means something to me.
What would I do knowing what I know now?
Find a business model that closely aligns with what I can do all day and still enjoy, then go all in.
I happen to love business, I’ve grown up around it and find it stimulating. I fell in love with Finance a year ago and because of my passion, I’ve gone all in. I now own a company that owns an equity fund targeted to do $21M in assets by October. The company also has a close relationship with a top university, and has an international presence with a top tier team and noteworthy attention.
Any of the businesses you listed above will work – if you go all in. It’s easier to go all in when you love what you do.
I’m currently reading “the psychology of money” it’s pretty interesting. Maybe it can inspire you to make a choice that fits YOU and YOUR goals 🙂
Do you have real estate already?
Get real estate and a mortgage first
I’m a game developer and I could use an investor. I have a couple of years experience building games.
I have experience researching the game market and I know what sells. I’m willing to split the sales 50/50 or more. Only thing I need is funding for art and marketing to build a business
Honestly $50k gives you a ton of wiggle room. If you want to go with e-commerce, I’d launch 3-5 products in a testing phase with a mix of organic + FB ads. Keep an eye out on upstream metrics -> AOV -> blended CAC. Scale the winners, dump the losers. I did this with $3k and found a winner in two weeks.
Same situation as you. Following
OP: This is outside of entrepreneurial advice/comment… while you figure out what to do with the 50k… put them in short terms government Tbonds…. No state taxes and make the money work for you.
Real estate baby! If making money is the goal of course. If slaving away all day is your goal then you should start one of these businesses everyone else is talking about
Start to improve yourself personally and find a date.
The key here is AMPLE DAYS OFF!! Do not spend your savings. Use your time.
Start an LLC. Talk to local business owners about their needs. Preferably ones who have in-person businesses. You know how to support people irl.
If you’re a police officer, you could create a security business. If you’re a firefighter or EMT, you could start a safety task force for events.
Find a few jobs, don’t worry about rejection. No need to eat into that savings. Do what you’re good at and grow organically until it becomes the real deal.
You have sacrificed a lot of reckless spending and indulgence, not to mention time to get to this position. Don’t blow it on something that sounds quick or easy. Spend some more time studying business, familiarize yourself with a particular industry. Don’t rush to pick up a business. Don’t invest in crypto or anything where your returns aren’t connected to something you deeply understand and/or can affect/predict the outcome to some degree. Just make a hobby of consuming information, learn the language of money, and see what sticks in your mind after a while.
Hints:
– It’s not gonna be drop-shipping, digital marketing agency, or anything else that is plastered all over your feeds, or in a course people are selling.
– It will probably be boring and repetitive.
– It won’t be some super complex tech-y innovative market disruptor (not disputing these but its not going to make for a successful first attempt).
I don’t know, maybe hire a 1 on 1 entrepreneur coach for maybe 10k, who can show you the ropes of entrepreneur ship, which gives 40k for starting a side business. I would do this if I have 50k lying around.
Pick one. That you’d reasonably succeed in. Do you have experience with real estate or no. Etc. which one would be the easiest to succeed. Pick it in a day.
Then do that, until you succeed. Don’t jump around. Don’t fail, don’t yourself and then try another thing. Pick one, and do it.
I personally would start a spa and scale.. in your position, you should partner with someone skilled, knowledgeable, and business savvy (if it’s not yourself… 😉…) and invest in them, the idea, skill, or lifestyle that you believe in and can align with.. branding is everything
I would invest in startups! They can be hugely profitable long-term and short term! Like shark tank. I have a great one in mind if you’re interested…
Personally I was a smoker so I opened up a smoke shop. Like most comments are saying it’s best to open up a business you have some sort or inclination towards, but you can open a business strictly for making money. Any decent idea paired with timely execution is pretty hard to fail.
I would buy an acre somewhere busy. Pop a tiny home on it, and rent it out on airbnb.
Read millionaire fast lane and then million dollar weekend. First one to prime you, second to start action
It’s completely normal to feel overwhelmed with all the options out there, especially when the information can sometimes feel like it’s coming from a sales pitch rather than genuine guidance.
First, let’s acknowledge your interest in these different avenues. It’s fantastic that you’re exploring possibilities, but it might help to narrow your focus. Ask yourself what truly resonates with you. What excites you about drop shipping, e-commerce, or real estate?
Is it the idea of creating something unique, the potential for passive income, or the opportunity to help others?
Connecting with your motivations can provide the clarity you need to move forward. Since you mentioned a lack of business and marketing experience, consider starting with something that allows you to leverage your current skills. For example, in public safety, you likely have valuable insights into community needs or safety products.
Could you create an e-commerce store that focuses on safety gear or wellness products that cater to your community?
This way, you’re not starting from scratch; you’re building on your existing knowledge.
Another approach could be to start small with a side hustle. Perhaps you could begin by selling a few products online, using platforms like Etsy or eBay, to test the waters without a significant commitment.
This hands-on experience will help you understand the market better and refine your approach.
Additionally, consider seeking out local workshops or networking groups focused on entrepreneurship. Engaging with others who are on a similar journey can provide support, inspiration, and practical insights that online videos just can’t offer.
Lastly, trust your instincts and allow yourself to experiment. It’s okay to make mistakes along the way; they’re often the best teachers. You have the time and resources to explore, so take a step forward with confidence.
The key is to find something that excites you and aligns with your values.
p.s. i would be upfront in the ps lol, this response is from my decision making tool i am building for entrepreneurs, i also have an action plan for you, let me know if you would want me to share it here or in your DM, it’s free.
It’s all guru shit man. That’s what they’re selling, themselves.
The back half of $100m offers and $100m leads is a very step by step guide on marketing yourself and building your brand with his own guru life stories thrown in. The first half of each book is just selling you on the concepts of the book and why. It worked for him.
If I were you I’d put more away into savings.
No business you start will give satisfaction until you can start to get back out of it, so be prepared to give yourself a lot more “work” upfront, which could be years if it doesn’t take off quickly.
Most of them will require some level of marketing effort to get your name out there. I’d look into what you can do to streamline and speed that up when you decide what you want to do and why I included the two books previously.
Real talk, look into a local college or community college. They may have a business center that gives free advice and help with any business idea…. Libraries and colleges man, they give back if you look deep enough. My local community college helped launch like 44 business last year. Working side by side with the owner to launch and giving free biz consultation afterward whenever they need it. Pretty dope