#2757 - Failure Friday: Lost Contract Leads to 50% Revenue Drop

Side Hustle School

Chris Guillebeau / Onward Project

Business, Entrepreneurship, Careers

4.8 • 3.3K Ratings

🗓️ 19 July 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week’s Failure Friday segment, we hear from an employee training consultant who lands a big contract—only to become too dependent on it. 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. Show notes: SideHustleSchool.com Email: [email protected] Be on the show: SideHustleSchool.com/questions Connect on Instagram: @193countries Visit Chris's main site: ChrisGuillebeau.com Read A Year of Mental Health: yearofmentalhealth.substack.com If you're enjoying the show, please pass it along! It's free and has been published every single day since January 1, 2017. We're also very grateful for your five-star ratings—it shows that people are listening and looking forward to new episodes. 😎 🙏🏼 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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0:00.0	A lost contract leads to 50% revenue drop. That doesn't sound good at all. Well it must be our
0:16.2	weekly segment known as Failure Friday. Not about a case study of somebody who
0:20.3	makes a million dollars or even a hundred thousand dollars it's more like a
0:24.4	case study of something that goes wrong and how does a side hustler small business
0:28.3	owner entrepreneur adjust in this situation what do you do when you have an outcome
0:33.8	that is less than desired?
0:35.2	Welcome to Side Hustle School.
0:36.2	My name is Chris Gallipo, your host.
0:38.2	Just like our throwback Thursday segment,
0:39.8	you get to hear directly from a side hustler
0:42.0	or small business owner who has struggled to get something off the ground or otherwise encountered a difficulty, often a serious difficulty.
0:49.3	In this case we've actually got someone, Peter. He is a consultant.
0:54.2	He had a, what he calls a dream contract,
0:57.5	a great contract that lasted for a long time.
1:00.4	And it was so great that he kind of became dependent on it and it turned into half of his revenue.
1:05.8	Now as you might guess already, something goes wrong along the way and he loses that contract.
1:10.7	So how does he adjust in the context of this difficult situation and what
1:16.4	might we all learn from the story? What did Peter learn from it? What might we take away
1:20.6	as we are building our side hustle or whatever it is that you're working on over there.
1:25.2	Let's hear the story from Peter.
1:26.2	I'll have a few things to say at the end, but we like to keep the focus on our storytellers.
1:30.4	So over to Peter. In the world of consulting there's an old adage that says never put all your eggs in one basket.
	...

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