TLDR;
This video argues against common side hustles like dropshipping and surveys, which often yield low hourly wages. Instead, it advocates for leveraging existing skills to offer high-ticket services (e.g., consulting, coaching) online. Building a personal brand through content creation is key to attracting clients and scaling income. The video introduces the "Money Triangle" framework, emphasizing skill identification, content creation, and monetization through direct client engagement.
- Focus on high-ticket services over low-paying side hustles.
- Build a personal brand through content creation to establish authority.
- Utilize the "Money Triangle": Skill → Content → Monetization.
Intro: Stop Doing Side Hustles [0:00]
The video starts by criticizing the common approach to side hustles, such as dropshipping or surveys, which often yield minimal profit for the time invested. The author argues that many individuals possess valuable skills that could be monetized more effectively through high-ticket services. He shares his personal experience of transitioning from a 9-to-5 tech sales job to a multiple six-figure income by leveraging his existing skills and building an online presence. The core message is that investing time in building a sustainable business based on one's expertise is more rewarding than chasing low-paying side hustles.
The Problem With Side Hustles [1:51]
The author explains why common side hustles are often a waste of time. Dropshipping is highly competitive, requiring significant ad spending and expertise, leading to low profit margins for most newcomers. Flipping products demands unique knowledge and time investment with uncertain returns. Survey sites offer extremely low pay for the time spent, making them hardly worthwhile. All these opportunities involve selling time for money at a very low rate, often less than minimum wage. The author suggests shifting the mindset from building a side hustle to building a sustainable business that can be leveraged long-term, such as building a personal brand.
High Ticket Services [4:57]
The video introduces the concept of selling high-ticket services (ranging from $2,000 to $5,000 or more) online as a superior alternative to traditional side hustles. The author promotes a free workbook and mini-course that guides viewers on how to transform their skills into high-ticket offers. He shares his personal journey of transitioning from a failed matcha ice cream pop-up store to selling his knowledge online. After facing financial struggles, he realized the value of his tech sales skills and created courses on lead generation and sales skills, which generated income and allowed him to move to Vietnam and grow his business.
Selling Information Online [7:40]
The author emphasizes that the skills people use in their daily lives or are frequently asked for help with can be turned into a career by packaging them into courses, coaching, consulting, or services. He highlights the low expenses associated with selling information online, as the primary costs involve initial investments in equipment like a camera and lights. He shares the example of a client who, after receiving his guidance, started charging thousands of dollars per client for tech sales coaching, eventually quitting her full-time job and earning a substantial income while traveling the world. The author points out the scalability of such businesses, where tasks can be delegated to others, allowing for increased income and reduced workload.
Side Hustle Math vs High Ticket Math [12:08]
The video compares the economics of side hustles versus high-ticket services. A side hustle might involve 20 hours a week, resulting in $500-$1,000 monthly income, equating to $6-$12 per hour. In contrast, high-ticket services, with the same time investment, could yield $6,000 a month from just two clients at $3,000 each, translating to $75 per hour. Moreover, building a personal brand through content creation leads to compounding growth, increasing the value per hour over time. The author uses his own YouTube channel as an example, showing how early videos with low views eventually gained traction, generating substantial income and subscribers over the years.
The Money Triangle [17:29]
The author introduces the "Money Triangle," a framework for making money online with a personal brand:
- Skill: Identify a unique skill to sell online by considering what you've been paid for, what people ask for help with, and where you have proven results. Even if you lack valuable skills now, focus on learning skills you're passionate about.
- Content: Build credibility and authority by sharing what you know, insights from your daily work, and thoughts on industry news. Case studies are a great way to break into a new industry.
- Monetization: Get people on calls or in DMs. Create a YouTube channel with a calendar link in the description for booking calls, and sell your services on those calls.
Implementation and Mindset [25:33]
The author advises starting a YouTube channel, making one or two videos a week, and including a calendar link for potential clients to book calls. He addresses common fears and misconceptions that prevent people from pursuing this path, such as the fear of showing their face or the desire for instant gratification. He emphasizes the importance of putting oneself out there, embracing imperfections, and focusing on long-term growth rather than short-term gains. The key is to bet on oneself, go all-in on one's dreams, and consistently create content to build expertise and attract clients.
Conclusion [29:59]
The video concludes by reiterating that while side hustles can provide extra income, building a real business based on a high-value skill is essential for escaping the 9-to-5 grind and achieving financial freedom. The author promotes his Founder X business program, which helps individuals identify valuable skills and turn them into high-ticket offers. He shares success stories of clients who have achieved significant income growth and career transitions through his program. The core message is to stop thinking small, bet on oneself, and build a sustainable business that leverages one's unique skills and expertise.