According to the Urban Dictionary, “hustling” is making money out of anything. Anything seems to be what the world economy needs to reduce the fluctuations in the market. The world banks have gone into crisis with rumors and facts of mismanagement at top level management and to avoid a blunder, hustling the LEGAL way will help small businesses build economies from the ground up.
Everywhere we look we hear stories of how the global economy has stabilized, is still in a recession or will never recover to its glory days. Regardless of the opinions of financial experts, the truth is that different sectors of the economies around the world are blooming in different environments. Some businesses are still thriving, others are becoming successful whilst some suffer in the current state of affairs. Small businesses are becoming the backbone of nearly every economy acting as a buffer to larger businesses that are becoming more sensitive to market fluctuations and media stories.
I thought of this idea by reading “Selling to the Bottom of the Pyramid” but instead of focusing on poorer economies I thought that rebuilding economies from the bottom up, by building them on stone and not sand would be ideal. The massive bailouts that are being dished out to large companies can only be used in moderation or else the pyramid will collapse from the bottom up. Focusing on smaller businesses would relieve economies of taxes as communities would be allowed to breathe by earning an income through innovation. One area that seems to be milking money includes the social media business.
The Twitter world is bombarded daily, with tweets on how anyone can start their own business from home using social media sites to rake in their income. Whilst I was perusing News24 on D.S.T.V., the equivalent of the USA’s “cable TV” in Africa, I noticed a trend in the headlines on how the South African consumer was leaning more to using their mobile phone to communicate, rather than use their cellphone carrier to text or call. Facebook, Skype and the new rookie on the market that is speedily gaining respect, Whatsapp, are thriving. I skimmed through an article in one of the newspapers in Zimbabwe and noticed a similar trend.
Cost effective business ventures are the current competitors in the long distance race to succeed. Nothing in life is free but if you can provide a service that is nearly free you have hit the target. How many times do you check your Facebook page on your phone a day? If you could come up with a plan to capture a new market that checked your social site or social media site every day with constant “hits” translating into “income” you would add to the small businesses that are thriving in the current market both in developing and developed markets. However, offering a service that customers want and are willing and able to pay must be part of the key objective to being sustainable.