« Side Hustle School

#967 - WEEKLY RECAP: Why Do a Product Launch Only Twice a Year?

2019-08-25

In our thirty-fourth recap of Season III, we'll highlight the lessons learned in this week. Also: an audio update from a previous case study! 

Side Hustle School features a new story EVERY DAY of someone who started a hustle without quitting their job. You’ll learn how they got the idea, how they overcame challenges along the way, and what the results are.  

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Show notes: SideHustleSchool.com

Twitter: @chrisguillebeau

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
What's up my friend said hello and welcome to the weekly recap of side school monuments. EL about and we have just finish weak number. Thirty, four of our third season episode monitoring sixty seven today this week featured a college student who pays for school by making cheese, cakes, spanish teacher who hustles on the side. And a blogger who earns a hundred and forty thousand dollars from her real estate course before it even launches we're talking about a bit more today, very popular story, a tremendous success, of course not. I ve also got an audio update for you from a good friend of Mine angel runnion, and I want to do
deeper into that big online course. Success story specifically to answer the question: if it's so successful like if it's done so well, everybody loves it and making lots of money. Why not keep it open all the time, because when she did her product launch, she only kept open for a week and then close it down she's getting ready to do it again, but I think this time will also be up. You know pretty short five day window and it's not closed down once more for six more months. So why do it that way? But also I got one more thing for you. I found an interesting article this week all about the world of a phone farming. I just found fascinating.
As they often there's just so many crazy things happening in this new economy. People making money so phone farming is a vice article and that we will end up in a show notes. Basically, the way this works in truth is stranger than fiction on your phone. If you visit websites or use certain acts or play games, you're probably used to seeing a lot of acts and typically you as a consumer, I don't get paid for watching those adds, but an ecosystem of websites and apps kind of books that idea on its head. This is from that article says: without marketing strategy called incentivize traffic, app developers take advertisements or other content that companies want to get in front of an attentive audience and then pay that audience to watch or interact with them. So you think, ok so far, so good, that's
so unusual, you know if you watch a bunch of ads, get paid a fraction of a penny for each one till they get paid a very, very tiny amount for watching those at. So it's not really a lucrative thing to jump into, but the question becomes like, if you just think about this. Logically, what if you could create an automated process where your phone is set up to play adds all day and then the next question is: why limit it to only one phone? Ok, so this is the world of, as I said, phone farming, thus the phone farm, where people by dozens or sometimes hundreds of cheap Android phones, I wish- can cost as little as ten to fifteen dollars, then set them up this elaborate system in all these different networks to play adds all day and if it works well, the phone farmers get paid every month, sometimes a few hundred dollars in the case of one guy mentioned in the article around two thousand dollars a month. I am not necessarily endorsing this- just to be clear or not suggest
You go out and do this. I just found it to be a fascinating look again at the bizarre economy and strange incentives that come about because of technology- and advertising. I also found, in addition to the article detailed Youtube Video, where you can learn the basics of how to set up your first bone farm in like twenty minutes or something, May I once not half of it before my eighty deeper and kicked in, and I can ever actually seen a whole TED talk. I've seen like the first seven minutes of a lot of TED talks, but I think that I'm just in case anybody wants it. It is well so my main comment on all this is this is a lot of work like if you have the ability to oversee a phone farm uh. You know eighty phones set up on this rack. That's an incredible pictures of people doing this in your house and, like you, figured out how to have the phones playing adds all day. How else could you harness your creativity in a more effective way
The kind of reminds me of network marketing and a lot of ways where you ninety eight percent of people fail in that business. So it's not a good thing and I often say that my waist complaints from the one person in a hundred who is it school, and I always say to that person well good for you, but your case. Your experiences at all representative. What most people experience in that field and so You have found a way to be the one or two percent that successful good for you, but how much more successful? Could you be in doing something different like this whole game is right again? use if you found a way to overcome what else could you do? That would probably, You a lot more success in you. I didn't mean to get sidetracked there, but the world of phone farming that was interesting will link it up. That satisfies schooled outcome, slash nine six, seven! Let's talk more about Paula pant from episode. Nine six one this week, big success, story, really big story of of Paula who again made something like one hundred forty thousand dollars before the core.
Is actually open. Through this paid Meda programme she did and then once she opened for her first official launch. More than two hundred thousand dollars came as a thousand dollar course and in more than twenty people signed up for it. At that point, all the development costs had already been paid for. Essentially, so you have to hire people sign up, she's, basically making two thousand box which is critical right and it kind of begs the question you know if you been able to. Eight, this incredible product that has so much demand you're an authority in a space like call, has done everything rights. Essentially, why just have an open for a few days and what's the whole point of like closing down for six months and doing it again, why not have an open every single day because chances are you not even if you like this If a ton of people every day, if you could get it to where one person a day is buying your thousand dollar course, you know. That's that's pretty good
Obviously there is a reason- and I'm sure some of our listeners figured it out, but basically it's that by doing this product launch once a year. In her case, you think she's gonna do it twice a year, so bi annual I just creates so much more momentum. It creates a sense of scarcity. It creates a sense of like oh reading pause work for a long time, but this is my only chance to buy this course and also she really wants to focus on the students who sign up so by introducing them in cohorts. Essentially that's per able to having them come in every single day, because if a cohort like let's say her next launch, also brings into other people will then she can focus on that group of two hundred before she prepares for the next group that is to follow and a lot of people followed this model Murray, Folio, a friend of mine, has a product or a course, I should say, be school and if you have been on the
in the past ten years, especially in certain circles, you're probably heard a bee school, while these goals open for registration one time a year, pretty much in the spring. For a few weeks, there's a whole. You no detailed, incredibly elaborate relaunch process, and that goes into it. And be skulker, probably cell every day if it was open or available every day, but it's far more effective by becoming an event by becoming something that people look forward to and just so much more momentum and anticipation, Around it and be scores, not multi million dollar business, mostly because Marie has done a great job and investing in our students and creating a quality product, but also because of this marketing approach of scarcity, of creating an event, anticipation, momentum, etc. What's a secular from that, let us just now in here from jaw, actually I'm on it. I do a shot to sponsor sponsor, shot out and then an audio update from Joel who does the impossible come back and have some commentary about him as well.
High toll from Austin Texas, my sight hustlers mobile and I was featured on a sudden but three. Eighty one move well is a movement and mobility. Coaching out some show you how to stretch and foam role for your specific goals, whether you're an apple. Or you just sitting down and back pain. All day when I was first on site houses, I had a partner in the other. We had only shot a few different routines for a few different goals. Sense then, I bought out my partner we're different stages of life. I'm differences just watch ownership, and I bought him out in order to be able to focus more on the up and continue to scale up and since then and we ve been able to do another video shoot and basically double the number of moving
any change in the YAP. I've also build out a feature were able to schedule I'll retains for release in the future, so we can continue to be consistent and create new routine as for people's balls, the matter what they are. Importance, have paid kids Travis and are always looking for new content what I'm working on next is just continuing to create more retains more movements and more content was nice about the abbot. This point is that, from a feature said, is we ve got most the features in the app that we want to add from here on out there just adding more content, adding more routines, adding more tutorials more value to our customers, and so that's it really focused on him, were pretty good at that at this point, so it's great that's my update. You wanna check out mobile up its at move. Well up, dotcom thanks
awesome. Thank you. So much all appreciate that update and by the way that the japanese talking about moving up. This is just one of these projects. Joe, is kind of like me. He's a serial side hustler the episode that we feature to mine number thirty one was entitled: cider sort gets paid to run, seven ultra marathons on seven continents. So that's one of the things he has known for former rolling is so important. I used my former or every day, or at least I intend to do those things got the formal or you know right here in my office and most days, It and I always feel better when I do so get upon ruler and jockey, creating content. Everyone, in addition to remove well up, you, can follow along with him at impossible, H, Q, dot com or Joel run yet TAT Cup, all of which we will link up on the notes page
more updates to come more stories to come more fun surprises to come, actually we're gonna buy just after the fall that I am looking forward to sharing with you. I am most good, or for everyone listening to this programme every day from all over the world, tens of thousands people turning in everyday to hear stories, perhaps to get some inspiration, perhaps to get some practical guidance and also to under and at TAT, if you're out there- and you can I d of doing something- it's different or doing something that maybe other people understand. But you wanna do it because you want to invest in yourself and you wanted to create some kind of project that earn money. Apart from your data, I will not, good thing. It is a wonderful thing that is worth your effort. I am honoured to be able to produce this programme for every day. I also say big thanks to some other folks in our team, including preacher, Chuck Reed content, Minister Whitney Critic community liaison, judging, I think, he's in Hawaii this week hollow shed for all your hard work, tat, hurt or Tina heart.
The official show CAT Liddy Gill about all of us together are part of the armor project. Curated, my best selling author Gretchen ribbon ensure check out her show happier if Gretchen Ribbon well as happier in Hollywood and do the thing from Melissa Urban you're enjoying a program and be grateful for a quick rating and review and apple podcast just takes a second and it helps other people discover the shop it most. Besides, I mentioned an inspiration escape, but action is better because I hope you'll take action. I hope that this will be helpful to you in a practical, specific way. I look party hearing about what Europe I hope, you'll join me tomorrow and everyday next week. Consider this, as I said, a short daily investment in yourself So it's go online at six hour when I M eastern time. My name is critical about, and this is side of some sort
from the onward projects.
Transcript generated on 2020-04-26.