624
15 min 48 sec

Weekly Recap: Crowdfunding Is Not a Business Model

In our thirty-seventh recap of Season II, we'll highlight the lessons learned in this week. Also: listener Q&A!
Crowdfunding Lessons Resources Weekly Recap

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Notes from Chris

Episode 624
THEMES & TAKEAWAYS:

Today's update includes an anonymous comment from someone who had a very successful crowdfunding campaign. The campaign raised more than $100,000... but his business is struggling to maintain momentum just a few months later.

Crowdfunding can be a wonderful tool for launching a product, but it’s not a business model on its own. You need to ask yourself: what will you do after the hype dies down?

To hear more, check out today's Weekly Recap!


WHERE ARE THEY NOW:

This is a new segment we're trying out with the help of side hustlers that we've featured in the past. Today, we have an update from Scott Mackes, who was featured on the show in Ep. 47.

Listen to the Weekly Recap to hear from Scott himself!

You can also check out his website, Strengths Mugs.
EPISODES FROM THIS WEEK:

Here's what we heard this week on Side Hustle School! Listen to this week's recap for a more comprehensive highlight reel.

  • Ep. 618 - Before the boom of online shopping, this bird lover struggled to find quality products for her feathery friends. She decides to take flight herself, earning up to $250,000/year reselling supplies. Squawk!
  • Ep. 619 - A London receptionist rents out his photography equipment on a peer-to-peer sharing site… over and over and over
  • Ep. 620 - Two sisters living in New York City relive their childhood memories and create a personalized board game, earning $16,500 in the first four months
  • Ep. 621 - After using puppets to make sign language videos for her toddlers, an educator stumbles upon an underserved market
  • Ep. 622 - After making a simple change to the color of her custom-image rubber ink stamps, this interior designer and mother-of-three from Texas began earning $5,000 a month
  • Ep. 623 - Love the idea of a romantic evening, but don’t have the time to plan it? These best friends from Florida will take care of everything for you
Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,

cg-sig-newsletter

We want to hear from you!

The best part of Side Hustle School is our community, and around 20% of our episodes come from listeners. Are you working on something and want to share it with us and our audience? If so, we want to hear from you!

Head on over to our online submission page, and we'll be in touch if your story is chosen.

And if you're still working on something but have some questions, we want to hear from you too! Most Weekly Recap episodes include Listener Q&A.

Call the Side Hustle Hotline at 844-9-HUSTLE (844-948-7853), record your question and send it to podcast@sidehustleschool.com, or just send us an email!

Here's what's coming up next...

Each week I'll feature more stories from people who are starting side hustles without quitting their job. Here's a sneak peek of what's coming next week:

  • A decade-long “marathon distance” project earns six-figures in affiliate commissions for this patient runner
  • After hosting a popular Super Bowl party, a St. Louis salesman brings his fiery-hot, yet extra-flavorful hot sauce to the market
  • And much more!

Do you have a side hustle story you'd like to share? Fill out the Side Hustle School submission form and your story may be featured on the show!

Also, if you're interested in joining the Side Hustle Society, visit our Society page to get notified when it goes live!

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Quote of the Day
"Crowdfunding can be a wonderful tool for launching a product, but it’s not a business model on its own. What will you do after the hype dies down?"
—#SideHustleSchool

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To infinity and beyond,

Chris Guillebeau