Things that are criminally over priced, but shouldn't be. That's what I have been thinking about, essentially from the perspective of arbitrage. When we live in one market and look at other markets that have things that are either not available or available at very high premiums, one wonders why that is?

Typically its regulation, price controls, safety standards, low supply, or some times its just artificial. I have been cruising the isles of reddit, reading up on things that to my mind are very economical in some of the markets I operate in but insanely expensive in others.

Perhaps some of these translate well as export opportunities both physical and digital, likely a host of them don't.

If you were to make a list, what would it have, would you add more physical or digital arbitrage opportunities? Do you have skills that can be leveraged in a more robust economy, remotely/digitally ? Do you have a product that can pass muster in an other country? Do you have a system, a method, a process, a template, that you can use to monetize your time. Why not make a list of what you are good at and what you can learn and then make a list of things that you could potentially be doing to build your own arbitrage based business.

Outcomes

Chung ju-yung is born in a North Korean village in 1915. His parents are poor farmers. While his dad grows rice while his mom runs the household and raises silkworms for extra money. So Chung grows up poor but manages to graduate from 5th grade. You may be thinking... yea that isn't hard. But this was an impressive accomplishment for his town! All Chung wants to be is a teacher. But the problem is his family can't afford to pay for more school. So, he has a choice:

• Be a lifelong farmer

• Run away from home

Imagine if running away was one of 2 choices you had post 5th grade? Aren't we blessed we are reading a newsletter that is allowing us to evaluate the choices we can make in the comfort of our own homes and or the security of our work places?

Getting back to Chung, who is Chung? We will get to that shortly. His story continues... So Chung tries leaving home 4 separate times. At 16, he escapes for 2 months to do construction work... His father drags him back. At 18, he escapes to South Korea (part of the Japanese kingdom back then) but his dad finds him hiding at grandpa's house.The 3rd time he steals and sells the family cow for the equivalent of $50 today. Arguably hes, rich! So he hops on a train, escapes and enrolls in accounting school. Sadly he gets found out by his father and brought back. WTF... Where is this story going?

The 4th time Chung runs away... he's gone for good. In 1934, he escapes to South Korea and works as a bike boy delivering rice. He does so well that his boss gives him the store. This is the big break! Really, you'd think...The rice store prospers until 1939 when Japanese overloads shut down his shop. Angry about the loss of the rice store Chung opens up an auto repair shop. The best part? He know nothing about cars. But in 3 years, Chung grew from 20 to 70 employees.Then in 1943, Chung is shut down again by the government. So he takes his 50k in savings and plots his next move. 4 years later, he finally does it. Hyundai Civil Industries is born. Now you know Chung.

Then in 1943, Chung is shut down again by the government. So he takes his 50k in savings and plots his next move. 4 years later, he finally does it. Hyundai Civil Industries is born.8 years later Hyundai exports its first car to the world: the Hyundai Pony The Hyundai Pony becomes a point of national pride for South Korea. By 1985, Hyundai manufactured their millionth car.

This is not my story, i didn't write it. I read a Fantastic thread(below). Theres a whole lot more do read it.

But I shared most of the details because, your outcomes aren't what you think they are or should be, some times you pivot and when you do, you get to 10x , 100x better outcomes. Have a goal, any goal, but have an open mind. Don't stop too soon. Giving up is as good as not starting, but not letting go, is the same as not accepting failure. Be like Chung. Build your Hyundai.

One New Thing (that I learnt recently)

Nine women, called "The 9 Nanas," kept a decades-long secret that even their husbands knew nothing about. For 30 years, they gathered at 4 a.m. to bake cakes, send care packages to people, anonymously pay bills and buy clothes for those in need. Changing the outcomes of others for 30 years. That is an epic mission and an awe inspiring story.

Boring Stuff that Scales

I looked at past editions, in week 10 I did 18 Ideas that scale well. I moved on to the more pragmatic since then but I guess, we need to keep the ebb and flow going and share some more ideas, that hopefully Ive not spoken about in the past. The core being, that you stop reading(only) and start doing. There is so much to be done, but are you willing do any of it? I will share some New(er) ideas that I think have very good side hustle potential.

1

Computer & Mobile Phone classes for adults. Very simple, people in their 50-70s, are entering the tech space faster than some younger folks. Why? Because they are more financially stable and have the ability to get these products. They also have available disposable income/savings to hire 1 time consultants. Build an in-person course, 5-10 people, teach the basics of setting up a new mobile phone, setting up apps, removing apps, connecting to wifi, the difference between data and audio calls, whatsapp messaging, video calls, phone clean up and device settings. Similar for tablets and laptops. Things we take for granted as digital natives, that generation is getting to now. This is an easy one to start, find 5-10 people within your family, get them to gather some where, take a fully formatted phone and demonstrate. An other place to market his high volume sales phone stores, partner with them to send you referrals, split rev share with them. There is a very large market given the millions of older people using cell phones in this country. Build a decent enough course and reputation you can franchise your process and course material.

2

A brand like ELFY, tell me you've never used it. You cant. Think of utility products, that you can make, re-make, brand, re-brand, enhance, re-package, re-distribute. Glues are boring, business as mops, wipers, window cleaners, cleaning supplies. Yet not a single brand exists in our parts for quality house hold or industrial suppliers like Elfy in the glue space. Take the example of Vileda . Not one brand here that cant stand tall domestically. So why not find, identify, pre existing product, re-brand it (initially) as yours, OEM sourcing at its best and build a brand around it. Grow it scale it without investing in inventory or product. Just branding.

3

Co-creating apps with domain experts using no code. A lot of people have really good niche ideas because of their passion for that niche and they have no idea how to turn it into a marketable product. Be their enabler. Finding them is no easy task but instead of people getting caught up with software companies and others, this is a faster path to GTM(go to market).A relatively small demographic are action takers enough to learn a no-code platform and build out their app idea. Fewer still will do the marketing, launch, community and maintenance. It either costs too much time or too much money. You can solve for this.

What you should be Reading & Watching

The Divide: Growing Economy, Miserable Citizens | Why Are Rich Countries So Unhappy? | ENDEVR Documentary 1H15M

The Divide tells the story of 7 individuals striving for a better life in the modern day US and UK - where the top 0.1% owns as much wealth as the bottom 90%. By plotting these tales together, we uncover how virtually every aspect of our lives is controlled by one factor: the size of the gap between rich and poor.

Monetizing "super sadness" for happier outcomes is some thing you should think about. What is the one business/idea/service, that you can offer remotely that helps people deal with sadness. Think about it, its profound, it may not be as sexy as building a startup that you raise a 100m$ for but, it is a growth sector overlooked.

Monetize your time

The Bad news is time flies. The good news is you’re the pilot, and now you can monetize time. How you ask. By investing in some thing grows, vs using it for acts of instant gratification for self. If you're busy from morning until night, you may believe that this list of ways to make extra money in your spare time won't work for you. But, there are countless ways even the busiest person on Earth can make quick money in their limited spare time. Whether you're a busy college student or someone who already has a second job, I have good news for you: there is always a way to make extra money that fits your lifestyle.

Think about what you're good at and what you can teach others. Make a video or audio course that lays out your topic step-by-step.

Once the work is done, you can upload it on a site like Udemy. People will go to the site looking for courses to take and some might sign up for yours. While you sleep, play with your children, walk your dog, wash your dishes, or work at your day job, you could be raking in extra money as users take your class. How much can you make? Rob Cubbon says that he makes $5,000 in passive income per month with his online courses. Watch his slideshow about how he creates, markets, and makes money from his courses. You'll even see tips on how creating free courses can end up helping you make extra money.

Made in Pakistan

A recipe licensing and distribution business. What do I mean. I think I have now belabored the point that we make some epic food/food related products. Yet most die an uneventful death when the original founders die or the generational distribution dims their progress due to lack of interest, skill or expertise. Yet there are childhood favorites and nationally acclaimed products we all love, that we can't find over seas, but they likely have a further larger potential if they get distribution. Yet not every one can build distribution but many who have already built distribution can likely co-pack, license, and resell in new markets sharing royalties back with the original brand or recipe owners. So business centered around legally binding food/product/recipe licensing for use in other markets. There is always a first, you can be that person.

One Last Thing

If it feels boring, but has stood the test of time, it likely does good business. In you quest to identify boring ideas, this is a great starting position. Look for the fax machine in any business, it likely has a loyal audience and either no alternatives, great service or reliability or all. That is the business to be in, do not go after the new and shiny when trying to build a passive income. Things that have stood the test of time are your best step forward.