What’s up side hustlers, Jamasen here, CEO of LoopGenius and author of Beyond9to5. Every week we’ll cover one major tactic to grow your business, the latest news in AI, and awesome tools and resources.

In today’s edition

• ☝️ One Tactic - The Waitlist: Discover the secret of transforming your side gig into a full-fledged business with the power of a waitlist! Learn from the experts who did it - Robinhood!

• 💼 Avoid Costly Mistakes in Your Side Hustle: Learn from the common mistakes new entrepreneurs make and tips on how to avoid them.

• 🤖 OpenAI's Take on Superintelligent AI Risks: Understand the need for regulation and coordination in managing advanced AI technologies, as suggested by OpenAI leaders.

• 🏢 S Corps vs LLCs: Discover the key differences between S Corps and LLCs for your freelance business.

The Robinhood Phenomenon: Unveiling the Secrets of their 1 Million-Person Waitlist

Are you thinking of taking the leap we all dream of– turning that side gig into a successful business? You’re right at the brink of breaking out from the 9-to-5 grind, imagining the life of a founder pursuing their passion full-time. But before you cartwheel off that cliff, let’s set your business up for success with a secret marketing tactic: the waitlist.

And who better to learn from than the experts who built a 1 million-person waitlist ahead of launch? Once upon a time, in the bustling realm of financial technology, a brave startup named Robinhood embarked on a mission to democratize investing. They believed that everyone, regardless of their background or wealth, should have access to the thrilling world of stocks and investments. But how did they manage to generate such incredible buzz and build an enormous waitlist? Let's find out!

Think of it as if The Weeknd is dropping a new album, and if you join the waitlist, you get to be one of the first listeners. Imagine the glory of being one of the first people to hear “Blinding Lights”!

As the news of this exclusive access spread, Robinhood's waitlist grew rapidly. Existing users became active promoters through a referral program, inviting friends and family to join the waitlist. The more people you referred, the higher you moved up in the queue to get off the waitlist. You know those Instagram giveaways where the more people you tag, the more entries you get to win the prize? Same idea.

But it wasn't just exclusivity and referral programs that propelled Robinhood's waitlist to extraordinary heights. They crafted an irresistible hook that spoke directly to their target audience.

Their waitlist wrapped people in by playing to the desire for a seamless investing experience. Think headlines like “$0 commission stock trading” and “Stop paying up to $10 for every trade”. Robinhood pointed out the problem and offered the solution: all you had to do was enter your email!

Lesson learned? Keep your waitlist page simple and identify the problem you’re solving. If you need some inspo to get those creative juices flowing, check out Copywriting Examples for some of the best marketing headers out there.

So, what are you waiting for? Set up a waitlist on LoopGenius today and watch it grow as you captivate your audience, ignite excitement, and prepare for a remarkable launch.

 ✨ Side Hustles We Love ✨

Every once in a while we’ll find some side hustlers in our community that are just killing it and want to share them with you all. Check them out and spread good karma 💰 🚀

What’s News

🗞️ Avoid Costly Mistakes in Your Side Hustle: Tips for New Entrepreneurs: Learn from the costly mistakes made by new side hustlers and discover how to avoid them. Prioritizing a fancy website may not be necessary at the beginning, as direct engagement with real customers can be more effective. Additionally, focus on selling to actual customers before investing in lead lists or sales services, and prioritize execution over constant inspiration. By following these tips and committing to completing business education, you can set your side hustle on the path to profitability.

🤷‍♀️ Why you should care: Starting a side hustle can be challenging, especially if you make common mistakes that drain your resources. This article shares three key errors to steer clear of when starting your side hustle. Read More

🗞️ OpenAI Urges Regulation and Coordination to Address Superintelligent AI Risks: OpenAI leaders are advocating for the regulation of "superintelligent" AIs to safeguard humanity from potential harm. Their proposal includes establishing an international regulatory body to enforce safety standards and promote proactive risk management in the development of advanced AI technologies.

🤷‍♀️ Why you should care: Understanding the measures being taken by innovators to prioritize safety and responsible integration with society is crucial to ensuring that AI advancements do not pose a threat to humanity. Read more

🗞️ Discover the key differences between S Corps and LLCs for your side hustle: This article highlights that while both structures offer liability protection, they have variations in taxes, flexibility, cost, and eligibility. LLCs provide more flexibility in terms of the number of members and a less formal management structure. S Corps are usually more expensive to set up and maintain due to additional administrative requirements.

🤷‍♀️ Why you should care: Knowing and understanding these differences allows you to make informed decisions and choose the most suitable legal structure for your specific needs and goals. Read more

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That's it for this week's edition of Beyond9to5. Stay tuned for more tips, news, and spotlights in our next issue. Until then, keep hustling!