- Beyond9to5
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- 💰 Quick To Start, Slow To Finish
💰 Quick To Start, Slow To Finish
Good morning, side hustlers! Today’s newsletter is short, sweet and packed with tips & tools to grow your side business.
In today’s edition, we have:
🛠️ 5 tools to get your side hustle off the ground
🗞 3 articles to get you up to speed in entrepreneurship news
🔥 “Hustler of the Week”
🧠 A deep dive into a side-hustle that turned into a multi-billion dollar business
Let’s get to it!
🛠️ Tools for Side Hustlers 🛠️
🔍️ What we found for you this week 🔍️
Hootsuite - Automatically schedule and publish content across all socials and maximize your engagement
Fliki - Transform your ideas into promotional content with AI voices, using this text to video tool
Xero - Spend less time accounting with this software that offers workflow tools for small businesses, accountants, and bookkeepers
AI Scraper - Experience the intelligence and efficiency of cutting-edge AI-powered scraping.
LoopGenius - Grow your personal brand, side hustle or business with AI marketing tactics
🦉 Featured tool: Hootsuite 🦉
Struggling to manage your social media accounts for Facebook, Instagram, Tiktok, Twitter, etc. all at the same time? Struggle no longer with Hootsuite.
Schedule and publish content to all of your social profiles, track effectiveness in real time, and crank the volume on your top-performing content.
🗞 Entrepre-News 🗞
📈 Is it time to take your business to the next level?
Ready to take your business to its next phase of growth? You may be eager to look for VC funding, but depending on your business bootstrapping could be the better option. Read more here.
📱6 ways to utilize social media branding for your business.
If you want your business to take off, you have to know the ins and outs of social media. We found six tips to maximize your social media usage and boost your reach. Read more here.
🧊 Tech markets are thawing.
Chip designer Arm successfully navigated the first IPO in the technology market in nearly two years. Instacart hopes to ride the high as it gears up for a listing of its own. Read more here.
🔥 Hustler of the Week 🔥
🚀 Why We Go Beyond 🚀
In a famous TED Talk given by Adam Grant, the Wharton psychology and management professor presents a case study about the founders of e-commerce giant Warby Parker to show the unique ways in which the most innovative entrepreneurs get their business ideas off the ground.
Grant explains that the founders of Warby Parker were once his students at Wharton and they had asked him to invest in their company. Naturally, Grant asked some probing questions to see how committed these students were to their venture - a characteristic he once understood to be a key indicator of success. When he found out that the students had all taken internships for the previous summer instead of solely working on building the company, and they all had other jobs lined up upon graduation as a safety net, he thought they lacked a certain “buy-in” that is necessary for ambitious entrepreneurs. As we all know, Warby Parker is now an e-commerce giant with a market cap of $1.5B, so it’s clear that Grant was missing something back then.
Through research on the topic, Grant found that the most innovative entrepreneurs are quick to start their projects but they are slow to finish them. Despite the long time it took the Warby Parker founders to execute on their initial idea, this decision to operate slowly and unrushed ended up helping them have the best possible solution to the problem in the market. He learned that so-called “Originals” refine their ideas and really let the product and business model marinate in their minds before implementing them in reality. (Click here to read more about the Warby Parker story).
“What you see with a lot of great Originals is that they are quick to start but they're slow to finish. And this is what I missed with Warby Parker. When they were dragging their heels for six months, I looked at them and said, "You know, a lot of other companies are starting to sell glasses online." They missed the first-mover advantage. But what I didn't realize was they were spending all that time trying to figure out how to get people to be comfortable ordering glasses online. And it turns out the first-mover advantage is mostly a myth” - Adam Grant, TED, “The Surprising Habits of Original Thinkers”
What does this all mean for you? Grant’s case study is the perfect example of why side hustles work. Rather than spending 24 hours a day on one idea - sacrificing your personal life and cutting off your chances at other professional careers - it is not only possible but actually favorable to work on your business passively. By allowing your ideas about product design and GTM execution to go through iterations over long periods of time, you enable yourself to be more creative and free yourself up to take bigger risks.
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Have a side hustle story you’d like to share? Let us know by responding to this email for a chance to get featured next week! 📧
That’s it from us!
Happy hustling,
The LoopGenius Team
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