When a music store employee becomes concerned about a recession, he hits the right note by selling high-end ukuleles.
Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.
Share: #SideHustleSchool
Show notes: SideHustleSchool.com
Twitter: @chrisguillebeau
Learn more about your ad choices. Visit podcastchoices.com/adchoices
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Let's talk today about ukulele.
You can did you know, there's a fun fact like issue this first part, but probably part the second,
ukulele originated in Hawaii and closely translate.
So the hawaiian word for jumping fleet, while the EU
Bailey is experiencing a surge in popularity right now. It's the new thing, all the kids are doing. It isn't the first time this instrument has captured our hearts in nineteen fifteen and one thousand nine hundred and thirty five ukuleles also grew in popularity directly after times of financial hardship. This is true, as I said, a fun fact. It's actually interesting now in today's story. By the way
decided to school. I'm your host critical about in today story when a music store employ becomes concerned about a recession. He hates the right note by selling
and you can at least to make extra money ultimate ukulele, Tuneup, underrated, side income? That story is coming right up today. Every answer matters within ever before, because whether it's about health deliveries of finance, some things just can't wait. That's why I began is helping businesses manage Milly,
of calls texts and chat with Watson assistant its conversational. I designed to help your customers finding answers. They need faster, no matter the industry, let's put smart to work, visit, IBM Dotcom, Slash, Watson, assistant, to learn more support for this. Podcast comes from progressive.
You do with an extra eight hundred dollars. Biplane ticket lay down new student loan, treat yourself to those
whose, U benign with progressive, you could find out drivers who switches
save an average of seven hundred ninety six dollars on car insurance, get your quote online, a progressive dot com and see how much you could be saving national.
In your saving by new customer service who say with progressive and twenty nineteen,
in a fall of twenty fifteen.
Canada was staring down the barrel of a recession and Dave Simpson was concerned, money was tight and jobs are being cut, one of which was his wife's. Luckily, for Dave he kept his job throughout the turmoil. This was partly due to a true recession, never taking place and partly due to the fact that he was an expert in this field
He spent the previous ten years working in the musical instrument industry and he knew about everything from acoustic guitars desire funds that job was safe for now, but he could still hear the beat of the recession. Drum was hopeful of making some extra money, while his wife was out of work with his eyes. Open opportunities presented themselves. One of them came through Dave's employer, a retail chain specializing in high and guitars source from overseas. As part of that job, he had the opportunity to visit China and Japan to source new products. It was there that day began turning up a new idea. He was convinced his side of soul should be related to his area of expertise and the suppliers he was meeting could make any instrument someone my
neat around the same time, he learned fulfilled by Amazon, a platform where sellers offer products directly through Amazon and they ship them out on your behalf day figured if you could find the right instrument in coupled with happier he'd be well on the way to achieving this goal. The only thing left to decide on was which musical instrument to sell
You'll, never guess we chose. Will you probably well if you heard the introduction, or he saw the title
landed on the ukulele. He loved the instrument and new from experience that most ukulele were poorly made and designed to be more of a toy high and instrument. He envision the
Rick Ukulele, something on par with the high and guitars he sought at his age up one
used real would to protect the best sound and quality tuning heads. So players could hold perfect melodies with suppliers at the ready. He invested seven thousand dollars. It was a risk, but when he felt confident taking, he was certain his ukulele withstand
court for a name. He picked Honolulu at you, colleagues
in sounding name in honour of the instruments birthplace soon after he placed his first order for sixty instruments.
By now a year he passed, it was twenty seventeen and Dave started to feel a little guilty since inside us was so closely related to his day job. He decided to tell his employer about it,
he loved that job in was worried. If the information came out later, it might not look good. What happened next took Dave by surprise. He was fired immediately thrown out on the street, and the police were called wait a second, that's that's not.
Right, that's the wrong story. Sorry turned out his employer was completely supportive. He immediate
offered to stock Honolulu ukulele in all four of his retail stores. With that David
Amazon idea was replaced with a wholesale concept. He had plenty of contacts in the industry
He knew he had a good shot at other store restocking UK's soon. His first batch of sixty we're accounted for. It was time to take the profits and keep ripping.
Around this time, he realized the value of working more closely with his suppliers. The second batch of UK's came with a few mistakes: nothing terrible, but also not a high quality. He promised
instead of returning them Dave negotiated a discount which would help is profit margins. When time changes cell and cell, he did
a wholesale remained his best avenue for sales. He also invested in a website and over the next year,
worked on building Honolulu ukulele into its own brand. He tried.
The traditional online marketing channels, from adwords to newsletters, to ESA building up his army presence as a top priority for the coming year in hopes of increasing his already impressive numbers in TWAIN,
seen alone Dave sold over a hundred and twenty thousand dollars worth of ukulele is forty thousand of which is profit for now he still working his day job, although that may change in the near future.
Congratulations day, thank you for allowing us to share your story, big success there. Thank you,
really is an underestimated instrument. I really can do a lot with it working on this one
I did me episode nine thirty, eight per. Why in native teaches virtual ukulele lessons I should go check up on our guy, because I wonder, if he's seen, an increase in business in the past couple of months, virtual ukulele, lessons that was episode. Neither
the eight hour. So don't you love how data is a little bit afraid or feeling guilty about telling his boss somebody's Bosnia that being very supportive hear stories like that, all the time
far more often the night, the employees of being supportive at the hustle to be fair,
Now there are times when you know, that's not the case, so I understand why he had at trepidation com, but I'm glad it all worked out
Alright listeners hope you enjoyed it. Inspiration is good
inspiration with action is better. Today's show notes arthritis, what school of school dot com slash, twelve twenty one, one two to one:
thank you so much worsening I'll be back again tomorrow. This is critical about for side in school.
from the onward projects.
Transcript generated on 2020-08-05.