- Folu Writes
- Posts
- Zero to Hero
The fintech company I used recently scared the heck out of me, but it was a good thing because I decided to look for other ways to make money.
With so many options, choosing one required deep introspection.
In this newsletter, I will reveal the things I considered before choosing a business I believed was the perfect fit for me.
First, consider these questions.
Ever been confused about choosing between your passion or a profession that's profitable?
Are you hesitant about starting a new business because you don't know if your motivation to do it will stand the test of time?
Ever started a business and later realized it wasn't for you?
Do you wonder if your career or one you're hoping to start will survive in the next few years?
Do you have a job or business, but you're looking to add another source of income or find one that's more satisfying, less time-consuming, and less annoying?
If you've asked these questions or similar ones, you will benefit from this.
Even if you have something going on, you can still learn from this.
The Factors that Influenced my Career Choice:
Passion
Profitability
Longevity
Low-cost entry
Alignment with core values
Time commitment
Preference for working alone
Contributing to a better world
So back to my dilemma regarding my career choices.
After some research, I chose a newsletter business like Morning Brew and Dan Koe's.
I will use my experience and the 8 questions I asked myself before choosing this business.
First, I want to give you a brief introduction to the newsletter business.
Making Money With A Newsletter Business
There are different ways to make money when you have a large number of people subscribed to your newsletter:
Brands could sponsor your newsletter and pay for advertisement slots.
You could specifically create content for paid monthly customers.
You could sell a course
Hell, you could start an Only Fans and sell videos of your gorgeous feet if that's what rocks your boat.
For me, I don't like sounding desperate, so the first two look attractive to me.
However, my audience is still quite small.
Two months in, and we're now at 30 subscribers, and it's absolutely amazing.
I appreciate everyone who clicked that subscribe button and gave me a chance even though newsletters can be annoying and overwhelming.
Also, I have about 600 followers on X from zero in the same period.
I see my X followers increasing and more subscribers joining the team in the future.
This might be a journey of a lifetime, so I'm not so much in a hurry.
Now let's get into why I chose to start a newsletter business.
Note: Make sure to write down your answers to the questions from each topic.
Apart from the major questions, there are other questions at the end of each point that will guide you to finding your own answers.
Before starting a newsletter business, I asked myself these questions:
1. What is my passion?
To find out what my passion was, I looked at my most consistent activities in the past. In the past five years, I have been sharing my thoughts on my WhatsApp status without getting paid for it. I was very passionate about criticizing society and sharing my knowledge to challenge people mentally. I was also using it as a form of therapy, which is much cheaper than going to the therapist if you ask me.
Key questions:
What are the three things I have been consistent with in the past five years?
Which one of these involved or can involve people (because you're selling to people)?
2. What is profitable now?
To find out what is profitable now, I watched YouTube videos and found out that people are actually making money with newsletters. I was surprised because I thought most people in the newsletter business were just desperate sellers. When I watched a video about a man who writes daily newsletters about farming and is a millionaire, I was blown away. The fact that it's a solo business even made it more amazing.
I also learned from Lenny of Lenny's Newsletter and Dan Koe and was completely sold. They both claim to be millionaires and are completely focused on newsletters. Last time I checked, Lenny is one of the top three creators on Substack. Another thing I considered was the fact that 85% of billionaires are experts in sales. I realized that building an audience and mastering what sells has always been a sure bet.
So if you wish to discover what is selling, you can do a Google search about the most profitable products or skills. You could watch content from people who share vast career options. I suggest you check out My First Million Clips and Alex Hormozi on YouTube. I believe they're legit and actually care about sharing quality information on making money.
Most other content creators who focus on making money online post fake stuff or sugarcoat their messages to gain streams and followers. So if you see a content creator saying you can make millions of dollars monthly by just smiling and winking at your phone, he's most likely lying.
Key questions:
What is selling now?
How can I discover what is selling now?
3. What will stand the test of time?
I have a newsletter that talks about diversity as a solution to the ever-changing job market. But another way to future-proof your income flow is to market yourself. You are a unique brand, and no one can replace your originality. No AI can experience what you did from birth. Your unique, human experiences are things other humans can relate to.
If you build your brand around yourself and your voice, you are more likely to stick around than people who build their brand on a solution that serves present technological needs. Technology always changes, and humans love trends, which are usually unstable. This is why I have faith in sharing my experiences in a way that helps people solve their problems. However, there's always a chance that once you say something controversial, you could be canceled. Da Baby, Ye, and Kyrie Irving all have something in common. They all got canceled at one point because they said something the crowd did not like.
Your fans can be your enemy. However, I believe you will still have loyal fans no matter what, and if you choose to focus on your loyal fans, it's possible to still have a good income stream regardless of cancellation. Also, you can try to build your brand on non-controversial topics. I plan to steer clear of controversial topics, but I also want to tell the truth and influence people positively. I guess I just have to find a balance.
Key questions:
What is likely to be around for a long time?
Can I build a brand around myself and the things that make me unique?
Am I ready to face the crowd?
Do I prefer controversial topics or not?
How can I make sure I stick to topics that are not too controversial?
4. What can I do at a low cost?
Now this question might be more unique to my experience or needs than the others. I am someone who believes in being frugal, even in business. That's my business strategy. Start with as little as possible. This is why when I first started searching for how to make money online some years ago, I focused on writing. Many other online professions require the use of expensive materials.
For video editing a graphic design, you need a fast, expensive laptop. For vlogging, you need expensive recording instruments. For programming, you also need a fast laptop. I'm aware that you can start from little in these professions. You could start with an old phone for vlogging, and invest in a more expensive gear as you grow. However, I was coming from zero, or very close to it.
As a university dropout, I had a lot to prove, and since my parents weren't in support of my decision, I couldn't count on them. I had only a phone with a bad camera. So I decided I was going to write. Writing is something you can do with simple, inexpensive technology. This part will resonate with readers who don't have much to invest at the beginning. You can either start with what you have in your desired career or choose a career that doesn't require much financial investment to get into. However, the harder it is to get in, the more serious the competition.
So, this point might not be for everyone since you might be more willing to take risks than someone who needs a guaranteed way to find the next meal. However, it's always advisable to start small. Some make the mistake of believing it's money they need to start a business. But if you don't know much about the business and you just go all in financially, you are playing a dangerous game.
To be safer, it's better to start with little and then scale once you've gotten the hang of it. That's why banks usually give out loans to customers who have a proven record of success instead of someone with a so-called great idea. Since I've been able to find a sort of stable income with book reviews, I can take more risks. So you can start in a career with low capital when you don't have much or start with little then choose a more expensive option or scale up when you have access to more funds.
Now, with writing, you can go as expensive as you want. You can buy courses and subscribe to Grammarly Premium and other premium services. But if you decide to spend every penny wisely, you can still make money.
There's free information on every major social media platform. You just need to learn how to find them. Search and be intentional about what you're looking for. Also, there's a free version of Grammarly. In whatever career you choose, you can find a way to start with little. However, there are levels to how little you can go in each career. So do your research. Let me know what you find by sending me an email: [email protected]. I need help too.
Key questions:
Can I afford the least amount required to start?
Which one of my career options is affordable to start?
How little can I go when it comes to my initial investment?
Am I physically ready and mentally capable of carrying out the needed activities?
5. What aligns with my core life values?
Now what in the world do core life values have to do with making money? I know you might be wondering if I'm currently high on Snoop's brownies while listening to Andre 3000's new album, but bear with me.
I think it's important to ask this question to guarantee longevity. I have tried several businesses and stopped because they did not align with my core values. I tried selling shoes, print-on-demand clothing business for French bulldog lovers, online export business training, advertising cars online, real estate, etc. I tried all these but failed to continue after some challenges—low sales especially.
However, I haven't stopped making music and writing about the things I'm passionate about since I started consistently sharing them with my audience 6 years ago. The main reason is they align with my core life values. I believe in enjoying the moment and making art. I also believe in sharing my art with people. Both making music and writing are art forms that can be shared with others.
Another one of my values is giving back. I was able to produce my songs by myself and write great book reviews, speak to girls, and do much more because someone out there wrote a blog or made a YouTube tutorial video. I am where I am today because someone poured into me. I wish to do the same for others. I wish to impact people positively because I believe a life shared is a life multiplied.
It is important to connect your career to your core values because you are likely to continue in such a career even if you're not getting paid. This is how you play the long game and stick around longer than people who just do it for the money. And if you've read Think and Grow Rich by Napoleon Hill, you know the ideology of the man who stopped just before he found gold.
To guarantee you don't make the same mistake or feel like a sellout while doing something you don't really feel good about, try to stick to career options that align with your core values. I was once young, desperate, and dumb. I used to teach people how to make money but focused too much on the money. What I'm doing differently now is providing quality information instead of offering sweet deals and low-quality stuff. This is why I'm pouring all my heart into every email.
Key questions:
Would I look myself in the face and be proud that I did this job in 20 years?
What are my core values?
Are my core values likely to change in 10 years?
6. What do I have the time to do?
Some jobs require you to clock in at particular times, like jobs in the medical profession—nurses, doctors, etc. Some businesses require constant attention, especially at the beginning. Elon Musk wasn't getting enough sleep when he was building Tesla because he was trying to meet a target.
I steered clear of tech startups and demanding roles because I did not wish to compromise my sleep and quality time with friends and family. This aligns with my core values, like enjoying the moment and balance. Hard-core entrepreneurs who wish to be consumed by their business might prefer the excruciating work roles. If you're somewhat lazy like me and prefer to have a flexible schedule, you can seek less demanding work.
My newsletter business could be more demanding. It all depends on me. I could write every day but be relatively tied to my business. Or I could write once a week and have more freedom. It doesn't mean because I wrote once a week, I'm going to be making less than someone who writes every day. It all depends on my business strategy. Another great thing about my newsletter business is I can stack up my content, write ahead, and take a break from it whenever I want.
Key questions:
How much time am I willing to commit to my work every day, week, or month?
Do I prefer to work only for a few hours a day?
Do I prefer a seasonal job?
7. Do I want to work alone?
I like to think I'm a loner. What's cooler than being the lone wolf, right? Due to my past experiences of disappointment, I decided to reduce the rate at which I depended on people and chose my career accordingly. I didn't want an office job because I would constantly have to report to someone. I didn't want to have employees because I realized depending on people is highly risky.
If you know me, you know I like to play things safe. Let the world be like Floyd Mayweather Jr. or Elon Musk; I would be the unflashy Warren Buffet haha. So I chose to build my business on who I can count on the most, myself. And since I'm going to be messaging people and make sure I'm surrounded by loved ones, I would avoid the loneliness plague that's spreading like wildfire in today's constantly connected, internet world. A man can dream, right?
Yes, I know people are building their businesses successfully while counting on people. There's nothing wrong with that. In fact, it might be a much more fun journey with other people involved.
So that's something you would want to factor in when you're deciding to choose a career.
Key questions:
Do I want people around me physically?
Do I want to constantly communicate with people online?
Do I prefer to work alone?
8. What work do I wish to do to make the world a better place?
This one would ensure you contribute to making sure the world is still livable in the future. There are many benefits to finding a career that contributes to a better world.
a. You feel more fulfilled.
Your job feels more fulfilling when you think about making the world a better place to live in. I don't know about you, but if I feel the job I'm doing will make the world safer and fairer, I would be more motivated to get up and do what I feel I need to do to advance it.
b. It's a good time to care about the earth.
Several movements are popular today as we become more conscious about the repercussions of our actions and the preservation of our home. From climate change to environmental degradation, the MeToo movement, recycling, and more, there are several concerns that you could tap into to provide your service to humanity. Building your business on making the world a safer place is another way to future-proof your earning capacity.
c. The world becomes a safer place to do business, and you enjoy a balanced life.
Would you rather do business in a war-torn world or a peaceful one? I would like to believe that most people will choose the latter.
I would like to do business in an environment with cleaner air, happier people, and less hostile conditions.
If we continue at our rate of consumption, we are likely to end up destroying the planet. We are already feeling the effects of these things. From pollution causing breathing problems and oil spillage in residential areas to road accidents, there are so many problems that could be solved and used to earn a living.
Key questions:
What can I do to make the world a better place?
Is my industry responsible for some of the major problems in today's world?
The questions:
What is my passion?
What is profitable now?
What will stand the test of time?
What can I do at a low cost?
What aligns with my core life values?
What do I have the time to do?
Do I want to work alone?
What work do I wish to do to make the world a better place?
That's it!
I hope my experience can be used as a guide for building a lasting, fulfilling career.
Feel free to message me about any concerns, requests, or suggestions.