This transcript was generated from the episode audio and may contain minor errors.
[Music]
Hey, what's up? Let's talk about flip phones. Flip phones, don't you want a flip phone? Don't you use a flip phone every day? Maybe you don't want one, and maybe you don't use one.
Well, that actually could have something to do with the reason why today's story did not turn out so well. Welcome to Side Hustle School. My name's Chris Guillebeau. Today is Failure Friday. Failure Friday, a collection of short stories about mistakes, missteps, disasters, and of course, failure built on the principle that we can learn as much from failure as we can from success.
So just like our Throwback Thursday segment, you get to hear directly from a side hustler who has struggled to get something off the ground. And I already kind of alluded to what today's is about. Yeah, this story features a Rupert from San Diego, California. He is a serial side hustler. He's got a brilliant idea to sell flip phones, right?
I know, you're like, why didn't he go with fax machines? That would be much more in demand, much more relevant. Well, but in his defense, and he'll tell the story here, but I would just say to his credit, right off the bat, I mean, lots of vintage things are popular. And there are people that are using flip phones. It is having a bit of a moment, but you always have to ask yourself, what is the true market? Just because there's a news article
or some TikTok videos about people using these devices. Like, is there really a large group of people that wants to purchase them? I think that's a question that might've been helpful to have asked before proceeding down the path, but let's hear the story from Rupert. I'll have a very quick wrap up at the end. [Music]
So there I was, a serial side hustler with an uncanny knack for spotting trends when I stumbled upon what I thought would be my next big break, the vintage flip phone market.
You know, those delightful little devices with a satisfying snap when you close them? I thought to myself, people will flip over these phones. I began scouring every nook and cranny to find my coveted flip phone supply. I was dialing in on my target market, buying up every phone I could get my hands on. After all, I wanted to ring in the profits with this nostalgic piece of tech.
But soon reality gave me a wake up call. It turned out that not many people were interested in owning a flip phone anymore. Apparently having the entire world at your fingertips through a smartphone was more appealing than the simple pleasure of snapping a phone shut. Who would have thought? Sadly, my dreams of riding the wave of flip phone nostalgia were quickly disconnected.
But instead of wallowing in my failure, I decided to find the silver lining in this entrepreneurial misadventure. In the midst of my fiasco, I learned a valuable lesson. Never underestimate the importance of market research. Just because I had a burning passion for flip phones didn't mean everyone else shared my enthusiasm. I had let my excitement call the shots without properly evaluating the demand for my product.
Looking back, I can't help but chuckle it to flip phone folly. I might've been off the hook with my idea, but it taught me the significance of understanding your target market and staying in touch with consumer needs. So now, as I continue my side hustling journey, I make sure to dial up my market research efforts. While my flip phone venture may have hung up on me, I'm now better prepared for whatever entrepreneurial adventure awaits me next. And who knows, maybe someday those flip phones will make a nostalgic comeback and I'll be ready to answer the call.
[Music]
Never confuse a single defeat with a final defeat. Thanks so much Rupert for sharing the story. Indeed, maybe one day we'll all be ready for that flip phone comeback. So listeners, well, first of all, I hope you appreciated the story. Also, if you need a flip phone, you know where to go, but you don't need a flip phone.
So, hopefully Rupert will have moved on entirely by the time this story comes out. If you have a question or an update for us about your hustle, a story to share, perhaps, sidehustleschool.com/questions. Today's notes, sidehustleschool.com/2295. That's episode 2,295, almost at 2,300. Thanks to you, our community.
We've got a new episode coming out every single day. You can always subscribe, follow, wherever you get your podcasts. My name is Chris Guillebeau. This is "Side Hustle School." [Music]
From the "Onward Project."
