The Side Hustle King: "Make $20K+/month without money, luck, or experience"
My First Million Podcast Recap
Published:
Duration: 55 min
Guests: Chris Corner, David Stillson, Chris Kerner
Summary
Chris Corner, known as the 'side hustle king', shares business ideas that require minimal upfront investment, such as reselling liquidation items and AI consulting. The episode provides actionable strategies for starting profitable side hustles.
What Happened
Chris Corner, recognized as the 'side hustle king', proposes reselling Costco and government liquidation items as a viable business idea. He explains that securing a resale certificate, which exempts resellers from sales tax, is a necessary step, and recommends platforms like Gov Deals and Bstock for purchasing items. Chris mentions his success with reselling washers and dryers bought for $250 each and sold for $750-$900 on Facebook Marketplace.
The episode discusses the growing opportunity of AI integration into small businesses. Chris notes that many are curious about AI but lack understanding, highlighting AI voice agents and chatbots as valuable tools. He draws a parallel with the vast market of 800,000 management consultants in the US, suggesting AI consulting could experience similar growth.
John Cheney's business model, which involves selling custom Replit apps to medium-sized businesses, is explored. His company charges $15,000 upfront and $1,500 monthly, generating $2.5 million in its first year. Additionally, a barber shop AI voice agent business model is mentioned, charging $2,500 upfront and $250 per month.
The idea of snail mail subscription businesses is discussed, with Hannah's 'The Tiny Post' as a case study. Her business, which includes sending letters with stickers and handmade artwork, grew to $60,000 MRR within seven months through organic TikTok marketing.
Chris Corner suggests providing food services to Amazon warehouse workers due to their limited dining options, noting that there are 32 Amazon warehouses in the Dallas Fort Worth area alone. His experience working in an Amazon warehouse provided insights that helped him understand logistics for his third-party logistics business.
The concept of tote rentals as an eco-friendly business is introduced. David Stillson's 'Totes On Loan' in Fort Wayne, Indiana, serves real estate agents by replacing cardboard boxes, and the business can be started with an initial investment of $1,000.
Chris Corner also discusses wall printing as an emerging business trend. Wall printers, which are essentially 3D printers on rollers, can print images on walls at a high margin, with a 5x8 foot wall costing $8 in ink and selling for $800. This trend is likened to the rise of pressure washing businesses from a decade ago.
The episode concludes with a discussion on binary outcome businesses, which provide straightforward value and customer fulfillment. Tree trimming is given as an example, with a business in Dallas Fort Worth generating mid-six figures in revenue, half of which is net profit.
Key Insights
- Reselling liquidation items from Costco and government auctions can be a profitable business with minimal upfront costs. Chris Corner suggests using platforms like Gov Deals and Bstock, along with a resale certificate, to optimize sales.
- AI integration offers new opportunities for small businesses, with voice agents and chatbots being particularly valuable. Chris Corner emphasizes that many businesses are interested but lack the knowledge to implement AI effectively.
- Snail mail subscription services are gaining traction, similar to the box subscription trend from years ago. Hannah's 'The Tiny Post' demonstrates how organic social media marketing can rapidly grow subscription numbers and revenue.
- Wall printing is emerging as a high-margin business opportunity, with significant parallels to pressure washing trends from the past. Chris Corner highlights its profitability, with low ink costs and high sales prices for printed walls.