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With Second Shot, we’re all about people taking a second shot at life or their careers. Often times, a big hurdle for many people is having the financial security or even means to take that shot. This is even more true with the economic hardships people are seeing during the coronavirus pandemic.
Chris Guillebeau is a best-selling author who some call ‘the guy’ for helping people start businesses or showing people how to live the life they want, with no money. Two of his best-selling books are The Art of Non-Conformity and The $100 Startup, after all.
Guillebeau doesn’t think he has some unique cache of knowledge, however. He says “I feel like everybody has this knowledge, it’s just a question of how can I unlock this knowledge.”
Everyone has a skill, everybody’s an expert at something. If you’re able to extract and share that knowledge, you can start to find extra income through it, he says.
The pandemic has also created an atmosphere ripe for people to start looking for extra sources of income. “People are looking for security,” he says, “they understand that they can’t entrust their well-being to a corporation.”
While people all over the world are looking for side hustles, Guillebeau says what they want and need is real income, not side gig or supplemental income.
So you have a skill or passion of some sort, then what? How can people turn that into income without investing a lot of their own (or someone else’s) money? In short, how do you start a business if you don’t have Mark Cuban?
In his new book, The Money Tree, Guillebeau writes about a new model called the ‘third way’. The first way being the more traditional route of borrowing money. The second way is what he called ‘The Shark Tank’ way, meaning you look for investors.
The third way, as he describes it, is done with minimal resources. Maybe just a one-page website and Paypal. Through this way, he says, you’ll learn a lot. Mainly, if the idea will work or not. If it doesn’t, you’re not out a lot of resources and can readjust or start again.
To demonstrate, Guillebeau references a woman he knows who started a virtual meditation group where she brings in experts for people to learn from. She charges people a modest monthly fee for access to the group. This part-time venture, he says, is now bringing in $3000 a month.
Another solid example of someone who has done this is Morning After’s very own producer, Melissa Plaskoff. She’s a mother of three who has had careers in several industries and decided to open a podcasting studio. The result? This very show started in Melissa’s studio and a year later, we’re on TV!
If you want to learn more from Chris Guillebeau and how to potentially find money in your own back yard, be sure to checkout the full Second Shot podcast with Jenny and Chris on your favorite podcast platform.