Understanding HustleScore: Your Guide to Evaluating Side Hustles

Hey Dads,

We all know the world of side hustles is a bit like a wild west - full of promise, but also brimming with snake oil and fool's gold. How do you separate the wheat from the chaff? Enter HustleScore, your trusty sidekick in this wild west of side hustles!

So, what's this HustleScore all about?

Think of it as your trusty guide, meticulously calculating the potential viability and profitability of a side hustle. It's a composite score from 0 (maybe give it a pass) to 100 (jackpot) that scrutinizes various pivotal factors.

Let's unpack the components:

Learning Curve (LC): How steep is the learning path? Lower scores imply a harder climb.

Skill Match (SM): How well does this hustle match your current skill set? Higher scores show a stronger match with your existing skills, which can dramatically reduce the impact of a steep Learning Curve.

Saturation (S): How packed is the marketplace? Lower scores indicate a more crowded field.

Initial Investment (II): What's the upfront cost? Lower scores mean a heavier initial financial load.

Potential Opportunity (PO): What's the potential income? Higher scores denote a more lucrative opportunity.

Income Stability (IS): How consistent is the income? Higher scores suggest more reliable earnings.

Flexibility (F): Can you fit this around your schedule? Higher scores equal more flexibility.

Risk of AI Replacement (RAIR): Could a robot snag this gig in the next three years? Higher scores imply lower risk.

Volatility (V): Is this hustle a flash in the pan or a long-term opportunity? Higher scores mean less volatility.

We calculate the HustleScore as follows:

HustleScore = (LC*SM) + S + II + PO + IS + F + RAIR + V

This formula accounts for the Skill Match multiplier effect on the Learning Curve. Essentially, the better your skills match the requirements of the side hustle, the less daunting the Learning Curve becomes.

We then standardize this score to our 0-100 scale using this formula (HustleScore / 2). This lets you compare the attractiveness of different side hustles directly.

Example Side Hustle: Notary

Consider the side hustle of becoming a Notary Public. Let's assume your Skill Match is high due to some background in legal matters:

Learning Curve (LC): 15 - Since you've got some background in legal matters, becoming a Notary Public would have a moderate learning curve. It won't be a walk in the park, but your existing skills will help you climb that hill faster.

Skill Match (SM): 18 - Your knowledge of legal processes and documentation gives you a strong foundation for this hustle. Therefore, the Skill Match score is quite high.

Saturation (S): 12 - Notary services are always in demand, but there's also a decent number of providers. It's not an overly crowded market, but neither is it a blue ocean.

Initial Investment (II): 18 - The startup costs for a Notary Public are quite low, mainly covering training, examination fees, and the notary seal.

Potential Opportunity (PO): 14 - Earning potential can be moderate to good, depending on how effectively you market your services. You could provide mobile notary services or offer after-hours appointments for a premium.

Income Stability (IS): 15 - There's a consistent need for notary services, but demand can fluctuate based on local market conditions. However, it's generally a stable stream of income.

Flexibility (F): 18 - As a Notary Public, you can usually set your own hours and, if you offer mobile services, work from various locations. This high score reflects the high level of flexibility.

Risk of AI Replacement (RAIR): 18 - It's unlikely that AI will replace Notary Publics in the near future. The need for a human element in witnessing signatures and authenticating documents is still vital.

Volatility (V): 20 - Notary services have been needed for centuries and will likely continue to be necessary. This hustle is as solid as they come.

After applying the Skill Match multiplier effect to the Learning Curve and adding up the rest of the scores, we have a raw HustleScore of 171. Using our standardization formula, the final HustleScore for becoming a Notary Public is 85.5 out of 100 - a very promising hustle indeed.

So, there you have it! HustleScore is your dependable compass in the vast world of side hustles. Use it to find the path that suits you best. Happy trails and happy hustling!

Will We See You in THE DEN?

Before you rush off to kickstart a side hustle, how about some backup?

Meet us in THE DEN - it's our friendly little corner of Discord where dads who hustle hang out. It's all about sharing our wins, losses, tips, tricks, and dad jokes (yeah, we got those too).

And here's the kicker - you get first dibs on our resources, mentorship, and fresh ideas. We're all about growing together, learning from each other, and turning those side hustle dreams into real-deal realities.

So, are you in or what? Pop into THE DEN - let's make this side hustle thing a whole lot easier (and enjoyable) together!