Do You Think People Would Buy These Two Services?

[coachfrigo]

Never really had any side hustles, but there are two I'm considering. The first would be credit score consulting. Basically, take a look at peoples' credit history, and help them rebuild their credit. Give good, genuine recommendations to help them get their scores back on track. Most people don't even know the factors that influence credit score, and it's something I'm pretty well-versed in.

The second is social media background check analysis. Basically, poor social media choices can kill your chances at many jobs. I'd use my Catfish-like prowess to stalk peoples' social medias, and help them improve upon their image to look more favorable to employers. Might especially be of interest to people wanting to join public sector jobs.

Low overhead, could do jobs quickly in my spare time, and wouldn't have to charge a ton. I'm just not sure if the market would be there. Would be hard to advertise that stuff without people thinking it's a scam.

Thoughts on how I might go about doing these two, or if they're even solid ideas?

[OkieM]

I think I remember seeing that people pay $20 per click on keywords like “repair your credit”, so yes there is money there.

[coachfrigo]

I'd love to get into these types of things, along with financial coaching, I just feel as if people wouldn't take me seriously. For two reasons, mainly. The first is that I don't have any certifications or formal education in finance. I never majored in finance, I'm not a CFP or anything, I just happened to have done a ton of research online.

The second reason is that I'm young. I'm turning 25 next month, and I feel like people will think that just because I'm younger than them, I'm ignorant about finances.

But, it couldn't hurt to try. At worst, someone doesn't like my service, and asks for a refund. At best, I build a decent client base, can genuinely help people better their financial outlook, and can make money telling people about what I already would tell them for free.

I can pretty easily make good-looking, attractive websites (especially using The X Theme with Wordpress), but I'm not well-versed on advertising. I wouldn't want to waste money on ineffective advertising. I'd love to advertise on both Facebook and Instagram.

[OkieM]

Buy the”4 hour workweek”, it’s an easy read

[Smokystache]

I was thinking that you should look at "The Lean Startup" - create the minimal product/service package that you think someone might be willing to pay for, create it, and see if people will buy.

I hope this doesn't come across as snarky or curt - in fact, I wish I had done this in my own side-hustles. I spent far too much time developing my products and services before getting customer feedback. Amazing how often the customer wants/focuses on a small detail or piece that I almost didn't include and they don't see what I assumed was the main attraction/service.

The other thought is to really emphasize the benefit to customer. E.g., No one really cares about their credit score except in terms of how it helps us with applying for credit. (I know you know this, but it may help with initial marketing). It's the difference between: "Improve your credit by 50-100 points in 3 months" compared to "Get the same house for $15,000 less" The general public is drawn to second one because they may not always be thinking about or fully realize the benefit of a strong credit score.  Good luck!

[coachfrigo]

I'm not sure whether I should specialize in one thing, or maybe have different services on one site. Those two, and also financial coaching.

Either way, not really risking anything. Even if startup if $50 or so (would host Wordpress on Bluehost), I already have many premium plugins, including a great theme (X Theme). At worst, I lose out on a small amount.

At best, I get some clients, and more than make up what I'm paying with literally just 1 or 2 single sessions.

[coachfrigo]

I did it. I made a little bit of a longer commitment than I was thinking, but I thought to myself, "the only way I'll go through with it is if I'm in it for the long-run."

I'll be making blog posts, at the least, twice per week. Nothing too crazy to start out. Going to be offering financial coaching as the main service, with credit consulting and social media background checks ancillary services.

Will do some cheap advertising through Facebook as I learn the ropes with that.

[SeattleCPA]

I was thinking that you should look at "The Lean Startup" - create the minimal product/service package that you think someone might be willing to pay for, create it, and see if people will buy.

I hope this doesn't come across as snarky or curt - in fact, I wish I had done this in my own side-hustles. I spent far too much time developing my products and services before getting customer feedback. Amazing how often the customer wants/focuses on a small detail or piece that I almost didn't include and they don't see what I assumed was the main attraction/service.

The other thought is to really emphasize the benefit to customer. E.g., No one really cares about their credit score except in terms of how it helps us with applying for credit. (I know you know this, but it may help with initial marketing). It's the difference between: "Improve your credit by 50-100 points in 3 months" compared to "Get the same house for $15,000 less" The general public is drawn to second one because they may not always be thinking about or fully realize the benefit of a strong credit score.  Good luck!

I think the above ideas and notions are really good.

And I have this similar or related thought: I would not spend time trying to develop your own service from scratch. I would copy some existing service for which you already know there's good demand. Then, as you gain knowledge of customer or client requirements, you can try to improve.

FWIW, I am all for small business entrepreneurship...