By Tkay Nthebe
“The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant” – Robert Kiyosaki
Growing up it was often said “what the mind can conceive, it can achieve”. In the era where the COVID-19 pandemic exposed how financially unprepared most of us are, the need to tap into our creative minds and create new sources of income has become very important. Some of our loved ones took salary cuts or were retrenched, leaving them in financial distress. The truth is, relying on only one income stream is a cause for concern and dare I say – extremely RISKY! I am optimistic that Basotho have the ability to come up with creative ideas to unlock additional sources of income; what is key however is to start!
Creating additional income streams requires creativity, determination, self-discipline and hard work. It starts with identifying the opportunity (market), taking action and providing a solution to address the need. In this article, I will focus on three pillars to spark the creativity and inspire you to start that side hustle.
How can you monetize your hobbies and talents?
Lesotho is blessed with a lot of talented people who excel at what to do and/or have hobbies that can be monetized. After a stressful day at work for example, Mpoi often spends time baking muffins to manage her stress. Instead of just baking for herself, Mpoi can consider selling her muffins to other people and increase her sources of income. Thapelo is also a talented speaker, with a voice suitable for voice over campaigns. Thapelo can approach businesses and use his talent to unlock a new income stream. The question I often ask is “can you monetize your hobbies or talent?”
How can you monetize your skills, experience and knowledge?
A significant number of working Basotho have a lot of experience and are highly skilled. The question is “how can we monetize our skills, experience and knowledge?” Take ‘Mathabang for example, who enjoys reading and is highly skilled in copywriting. In a market where bloggers, journalists and columnists need their work edited, ‘Mathabang can consider using her copywriting skills to make additional income.
Creating passive income
If working on a side hustle is not your cup of tea, another creative way is to build passive income. Take Mopeli for example, who does not like the stress of building a side hustle. He opts to invest in shares and property to unlock additional income from the rental property and dividends from the share portfolio. Let’s be honest, there are so many ways to unlock additional sources of income. The question is how are we using our most powerful asset (our mind) to build leruo? In the next article, I will discuss what to consider when starting a side hustle. Till then, let’s do the “Nca” thing and wear our masks when in public.
