There are so many money-making projects, how to choose?

For those who want to start a side business, or those who are thinking of quitting their jobs to start an Internet project, choosing a project is very confusing and tangled. The author of this article provides some references from the perspective of project selection, let's take a look!

Hello, fellow villagers. I am the village chief.

Today this blogger shares a project that can earn millions of dollars a month, and tomorrow a friend in the circle of friends will post a screenshot of himself making thousands of dollars a day, and there are also endless money-making projects in various communities.

With so many projects, how should I choose?

For most newbies who want to do a side job, or those who are thinking of quitting their jobs to start a business and looking for an Internet project, choosing a project is very confusing and difficult.

Today the village chief will talk to you about this topic and hope to give you some reference.

1. There are always money-making projects

First of all, we must affirm that there have always been projects that make money.

For example, selling goods on Xianyu, promoting products on Douyin, promoting products on video accounts, Toutiao’s rural self-media, IP creation, Taoke, and even writing for public accounts now all have the opportunity to make money.

It is precisely because there are people making money in every industry and everyone is sharing it that you feel dazzled.

2. Only a few people really make money

Although there are people making money in every industry, including some traditional industries that everyone thinks of, such as offline supermarkets, selling barbecue, online Taobao stores, etc.

But almost all industries comply with the 80/20 principle, or even the 199 principle now.

One person makes money, while the other 99 do not make much money, or even lose money.

When many people mention a certain project, they rarely pay attention to how others lose money, but only see how the top investors make money.

3. Others making money doesn’t mean you can do the same

When I hear that a certain project can make money, I want to do it immediately.

This desire and execution to make money is fine, but it lacks careful thinking.

Just because others can make money from a project doesn’t mean you can also make money from it.

For the same project, everyone has different connections, funding, knowledge, experience, team, time spent, and trial and error costs.

So everyone should have a clear understanding of themselves.

4. Is it true sharing or just cutting leeks?

Most of the projects we know about come from some sharing we see on the Internet, and occasionally some introductions from friends.

When looking at a project, on the one hand, it is a source of information, and on the other hand, you have to think about whether the author is really sharing or just trying to make money by advertising and attracting investment.

One thing to note is that the more they boast about the project, such as how you can earn over ten thousand yuan a day, have zero risk, and you can learn it in one lesson, etc., you should be careful.

5. The more crowded the project, the harder it is to make money

If you are an ordinary person, you should be more cautious when facing projects that are more popular.

For example, live streaming sales on Douyin has been very popular in the past two years, and everyone wants to know how to make money.

Those who do training are particularly easy to exploit. The training materials bought for 9.9 in the left hand can be sold for 299 or 399 in the right hand. Offline training is even more expensive.

In fact, it is difficult to make money in this track without resources and trial and error costs.

Especially in a certain field that everyone is working on, such as agriculture, rural areas and farmers, food teaching, funny anchors, etc.

6. The newer the project, the more patience you need

Many people say that they should seize the dividends of projects. Indeed, many people have reaped the dividends of reform and opening up, PC Internet, Taobao e-commerce, mobile Internet, public accounts and self-media, and Douyin live streaming by relying on their keen sense of smell and daring spirit.

We are still tinkering with ChatGPT, Metaverse, NFT, etc., but the newer the project, the more patient you will be.

Generally, if you enter a new project one or two years later, you will still have the opportunity to make money.

If a project is just a flash in the pan, there is no point in getting in early.

Look at Taobao, official accounts, Douyin, Xiaohongshu, etc. The dividends from these platforms can last for four to five years or even ten years.

7. What resources do you have?

In fact, when choosing a project, you should first ask yourself, what do you have?

Sufficient funds, rich connections, profound industry experience, reliable technology, continuous traffic, exclusive products, etc.

Whether you open an offline store selling tea, barbecue, breakfast, or a clothing store, or do online business such as agriculture, rural areas and farmers, funny videos, etc.

If you don't have all of the above, then ask yourself whether you have enough time and the courage to not be afraid of losing.

The village chief once said that you are either very rich or you have nothing.

The poorer a person is, the more courage he or she has to try a project, because he or she has nothing to lose.

8. Minimum trial and error cost

If you are interested in a project, especially for those who want to do a side job, it is recommended that you ask yourself a few questions first.

1. How much time can you devote every day, 3 hours, 5 hours?

2. How much money you are willing to invest, such as money to enroll in courses, go out for field trips, buy equipment, or even samples and payments for goods.

3. How much loss can you bear, 5,000 or 10,000?

4. How long can you last without making money? 3 months or 6 months, for example, shooting 100 or 500 short videos on Douyin

5. How do you think your execution ability is?

No matter you are doing Taobao, shooting Douyin, creating secondary videos, promoting good products, writing public accounts, etc., the above five aspects are scored on a scale of 1-10. If the score is less than 70, don’t do it.

Find a good job, finish the current task first, save up 200,000 or 300,000 yuan in cash, and then consider it.

Otherwise, you won’t be able to do any project well.

Finally , I still want to tell you that any money-making project starts with a master leading you to the door, and whether you can make money depends on yourself.

Either I am not brave enough to commit, or I am unable to persist, or my learning ability is low, and so on.

Author: Shili Village, WeChat public account: Shili Village (shilipxl)