📚 Hustle Glossary

Buying something at a low price in one place and selling it at a higher price elsewhere. E.g. buying cheap goods in Aba and selling in Lagos.

Earning a commission by promoting another person's or company's products. You get a unique link — every sale through your link pays you a percentage.

Selling your product or service to other businesses rather than to individual consumers. B2B deals usually have higher ticket sizes.

Starting and growing a business using your own savings and revenue — without outside investors or loans.

The movement of money in and out of your hustle. Positive cash flow means more money is coming in than going out — the lifeblood of any business.

A percentage of a sale you earn as payment. Common in real estate, insurance, and affiliate marketing.

Something you sell online that has no physical form — e.g. an eBook, template, online course, or software. You create it once and sell it unlimited times.

Selling products without holding stock. You take orders, pass them to a supplier, and the supplier ships directly to your customer. Your profit is the markup.

Ownership stake in a business. If you own 20% equity in a company worth ₦1m, your share is worth ₦200k.

Working independently for multiple clients rather than being employed full-time by one company. You set your own rates and schedule.

Revenue minus the direct cost to produce or deliver what you sold. Does not include overhead expenses like rent or salaries.

A bill you send to a client requesting payment for goods or services delivered. It shows what was provided, how much is owed, and the due date.

A potential customer who has shown interest in your product or service. Turning leads into paying customers is called conversion.

The percentage of revenue you keep as profit after costs. If you charge ₦10,000 and it costs ₦6,000 to deliver, your margin is 40%.

The simplest version of your product or service that lets you test whether people will pay for it — before investing heavily in building it out.

A specific, focused segment of a market. Instead of "selling clothes", a niche would be "plus-size Ankara fashion for Lagos women". Niches convert better.

Fixed running costs of your business that don't change with sales volume — rent, internet, phone bills, subscriptions.

Money earned with minimal ongoing effort after the initial work is done. Examples: rental income, royalties, digital product sales, dividends.

A concise presentation of your business idea or offer — to a potential client, investor, or partner. A good pitch is short, clear, and shows the value immediately.

Income that comes in repeatedly on a regular schedule — subscriptions, retainers, monthly service fees. It makes income predictable.

How much profit you make relative to what you invested. ROI of 100% means you doubled your money. Formula: (Profit ÷ Cost) × 100.

Growing your business in a way that increases revenue faster than costs. A hustle scales when adding one more customer doesn't proportionally add effort.

Income-generating activity done outside of a primary job or source of income. The goal is to create additional revenue streams you control.

The specific group of people most likely to buy what you offer. Defining your target market helps you focus marketing spend where it converts.

Offering a customer a higher-value or more expensive product after they've already decided to buy. E.g. "Would you like the premium version for ₦5,000 more?"

The clear reason why a customer should choose you over a competitor. It answers: "What do I get, why does it matter, and why from you?"

The money available to run day-to-day operations — pay suppliers, cover stock, fund wages. Without it, even profitable businesses can stall.