This transcript was generated from the episode audio and may contain minor errors.
[Music]
What's up my friends, listeners, community. Everyone, welcome to Recital School. My name is Chris Guillebeau, your host. We have just finished week number 18, week number 18 of season three. This week featured the six-figure business inspired by "The Little Mermaid," a Best Buy employee who moonlights as an online advertising consultant, and much more.
Been a pretty crazy week here as the month of May rolls out. It's actually one month away from the launch of "100 Side Hustles," my brand new book, which features a collection of stories from this very podcast. I'm so, so excited to share it with you very soon. I'll also be visiting 14 cities in June, and hopefully perhaps we can get a chance to hang out. Now, in this action-packed recap, today I'm going to talk about why it's better to almost win than it is to barely succeed.
This is a pretty cool lesson. I've been thinking about this all week, ever since I read this article. I'll also bring you an audio update from a previously featured "Side Hustler." First though, a couple of quick shout outs. The other day I mentioned a new show on the "Onward Project," "Do the Thing" with Whole 30's Melissa Urban. That show has been in the works for months, like many, many months, and I'm so glad that it's finally launched and out to the world.
It really is a wonderful program, and I'll probably tell you more about it in upcoming episodes. Perhaps we'll even have Melissa on the program at some point. Now, I also wanted to give a shout out to another new program hosted by Deepak Chopra. You might know Deepak Chopra, or at least you might know the name. I got a chance to meet him a few years ago when he was doing an event in Portland, Oregon.
So he's got a new podcast out called "Daily Breath." This is all about helping you build a more connected and productive life. So every Monday through Thursday, he leads a five-minute exploration that creates a space to add mindfulness into your daily routine. I don't know about you, but I need me some mindfulness. Then on Fridays, you can tune in to a 10-minute guided meditation to cap off the week. These meditations are restorative, reflective, motivational, and uplifting.
So two new programs this week, doing some great stuff in the podcast space, "Do the Thing" with Whole30's Melissa Urban, and "Daily Breath" with Deepak Chopra. You can find those programs wherever you listen to podcasts. [Music]
All right, let's talk about something really cool. Like I said, I've been thinking about this all week. Wanted to share it with you.
The principle here is it's better to almost win than to barely succeed. So what do I mean by that? Well, what I mean is a study came out this week, in addition to new podcasts coming out this week. Also a study came out. Sure some other stuff did too.
But this study was interesting. It's called "Early Career Setback and Future Career Impact." Okay, so a study came out. I'm gonna link up the extended abstract in the show notes page for anybody who wants to go and read more and understand the methodology and all that. But as best as I can manage, here is a short summary. So the study is all about setbacks in a scientific career.
And what they did was they studied junior scientists applying for national institutes of health grants. So if you're in the science world, you know exactly what that means for everybody else. Basically, as people kind of go through the system, they're applying for funding for these major grants. And a lot of your success in an academic career in the science world that really depends on getting this funding. Now the whole process of applications for these grants is very transparent.
So there's a lot of data available. And this study focused on grant proposals that fell just above and just below the funding threshold. So basically, they're gonna compare near miss with near-win individuals to examine longer-term career outcomes. So in other words, they look at people that almost won, like they were just right there at the finish line, but then failed, and then looked at people that were just beyond the finish line, like they just won, but barely. So what they found was, this is so interesting, two powerful opposing effects.
Effect number one, if you have a near miss, if you're one of those people that almost gets your funding grant, but then you don't in the end, you actually have more than a 10% chance of disappearing completely from the NIH system. So in other words, there is a statistically significant correlation between failing to get that grant money and essentially changing careers and dropping out of the career that you were excited about, prepared for, et cetera. So not totally surprising, right? But here is the second effect, okay? Despite an early setback, individuals with near misses systematically outperformed those with near-wins in the longer run.
So the abstract goes on and on. Like I said, I'll link it up for those who are interested. But the key point here is, at least in this population, or at least with this model, people who have a setback, but yet don't let that setback define them, actually go on to do better and be more successful than those who were successful right from the outset. So there's just so much you can take away with that. I don't even need to give you some lessons or analysis.
You just think about that. If you have a setback, if you have a failure, if you have a misstep, encounter an obstacle, a challenge, whatever you want to call it, even if it's your own mistake, then yes, that mistake or that setback, whatever it is, does have some potential to cause harm to you in the sense that some people get knocked out by mistakes. Some people might try to start a business and then their first attempt doesn't work and then they just never try again. However, those who keep going, those who do not let that first setback or challenge or mistake, whatever it is, define them, are actually more successful than those who win right off the bat, okay? So again, there's so much we could take away from it, but just let it sit with you.
If you have a setback, don't let that setback define you. If you have an early career setback or let's say your side hustle career, whatever that is, you could be 20 years old, you could be 50 years old, some other age, some other point in your other career, whatever situation you're in, you're trying to build this security, this new future for yourself. Well, if you have a setback, don't let it define you because actually it's gonna make you stronger. In fact, the abstract from the study even mentions this concept of what doesn't kill me makes me stronger, okay? So your early setbacks can lead to future success.
Take that with you today wherever you go. All right, so speaking of setbacks and success, in today's audio update, you're actually gonna hear all about a success, which is great. A previously featured story, episode 293. In fact, I will just let her tell you about it and then I'll have some comments at the end. So I believe this is Claire.
Let's hear it from her. - Bonjour, it's Claire Robinson from Normandy, France. My side hustle is Zigzag on Earth, where I sell my own curated travel guides for unforgettable road trips. It was featured on episode 293. While I have great news, my hustle has grown so much financially that it has become my full-time business.
I have quit my corporate job and I now share my time between planning a trip, traveling and writing about it. It has been a lot of work, first by adding new amazing destinations such as Slovenia, Corsica and Crete, and second by creating the French version of my business called Zigzag Voyage. But I don't complain, it has been a blast all the way and I love it when readers tell me they have finally found what they needed. My main advice for you is to find a strategy that fits your strengths, your goal and your audience. There is not one way to do things.
I'm often overlooked because I'm not your typical travel blogger. I'm not a social media maven and I don't get paid by destinations, but I have found a model that suits what I love doing as well as what my customers need. Don't let others tell you how it's supposed to be done. What's next? Well, I've recently started the German version of my website called Zigzag Ryzen and I just came back from New Zealand and I will start writing about it soon and publish the e-book.
So if you're looking for some detailed info or photo inspiration for your next trip, come check out zigzagoners.com and I wish you all the best with your side hustles and favors. - Thank you so much, Claire. Merci beaucoup, you're awesome. And congratulations on that fantastic update going full time in your business as well as that wonderful advice. Listen, you said you were not a typical travel blogger.
Thank God, man. Like there's way too many typical travel bloggers out there. The ones who are successful are the ones who are essentially making their own rules and really paying attention to, as you said, following your strengths and understanding what role do I play in this conversation and how can I truly contribute value to my readers or listeners or viewers, whatever medium you're using. And listeners, let's take this away from her advice. Number one thing, don't let others tell you how it's supposed to be done.
Yeah, such a wonderful advice for life in general that goes far beyond just your side hustle, but in life in general, don't let others tell you how it's supposed to be done. There might be another way. There might be another path. So if you'd like to follow along with Claire, her website once again is zigzagonearth.com. We will link that up as well in the show notes.
Next, I was looking back at some of the episodes this week and I noticed that a lot of them kind of focused on what I call strategic frugality. This is very much a value that I embrace. I define strategic frugality as being willing to invest in what matters and then saving like a miser on everything else. So if you're trying to start on a budget, which you should be, by the way, even if you have access to funds and resources, I think it's always good and always wise to start your first side hustle on a budget and probably not just your first, but definitely your first. So you spend as little money as possible, but then as your business begins to be successful, you choose, you deliberately choose to invest in what matters, okay?
So we had a story of, you know, Savvy Bride turns budget wedding into six-figure success. In fact, actually, now that I think about it, the first three episodes of this week, all of them turned into six-figure successes. Now, not every story on the program does that. Not every side hustle is gonna go on to make $100,000 a year income or more. Let's just be clear about that.
However, what I wanted to point out that they all had in common is they all kind of start on a budget, especially those first two episodes. The Savvy Bride and then the Best Buy employee, who moonlights as a consultant, neither of them spent much money at all. And then yesterday's episode was about a couple, again, on a budget, an artistic couple, juggles, parenthood, and hustling. And they didn't have much money, but they chose to invest in some equipment that actually, you know, made their business easier to run, more profitable, et cetera, in the long term. All right, so strategic frugality, think about that.
Be willing to invest in what matters and save like a miser on everything else. [Music]
I'll continue to mention that as we go along. We've got lots of other stories coming up that illustrate that value, as well as many others, as well as that value of not letting people make decisions for you, you know, charting your own course, making your own rules, et cetera, as well as that whole thing about having a setback, having an early career setback that then leads to a later success. So we are here at the end of the week. I want to respect your time.
I also want to say that I am so excited to make this program for you. Guess what? This is episode 855. And I kid you not, I am just as excited now, if not more excited, as when I started. I feel like we have this wonderful, amazing community of people out there that are doing awesome things.
And I just want to keep leveling up. I want to do a better job in bringing you the stories, bringing you something that's going to help you and just kind of, you know, nudge you along. We can't do it for you, but hopefully we can provide some kind of support that allows you to do what's most important to you. So before I sign off, big thank you to producer Chuck Reed, content manager, Whitney Karinek, community lie ASON, and master of trucker hats, Jed Chang, cat herder Tina Hart, and the official show cat, no relation, Libby Gilavout. My very last thank you is to you, the listener.
Thank you so much for allowing Side Hustle School to continue to grow. Be very grateful for any quick ratings or reviews you can give us in Apple Podcasts. Just takes a second, helps other people discover the show. But you know what? Mostly I want you to do something for yourself.
I want you to say, what's the most important thing I can do to start that project, to grow that project, to overcome the inertia that I have experienced, to get past any setbacks that I have experienced, to get past any mistakes or obstacles, whatever has been in my way, what's the number one thing I can do? And then go and do that. Even if it is a small thing, you know, I'm dealing with stuff all the time too, and I just got to keep trying to move forward. I'm not saying I overcome it all, I'm not saying I get everything right, 'cause I certainly don't, but I do try to keep moving forward. So I hope that you'll share that value and I hope you'll adopt that in some way for yourself.
All right, that's it for now. I hope you'll join me tomorrow and every day next week. Much more is coming up, stories, actionable ideas, fun surprises, who knows? Consider this an investment in yourself, a short, quick, daily, free investment in yourself. Our episodes go online at 601 a.m. Eastern time every day.
My name is Chris Guillebeau and this is Side Hustle School. [Music]
From the Onward Project.
