#698 - Engineer Earns 7-Figures from “Crowd-Purchasing” Project
Side Hustle School
Chris Guillebeau
4.7 • 3.3K Ratings
🗓️ 29 November 2018
⏱️ 8 minutes
🧾️ Download transcript
Summary
A product development exec recognizes the need for a group buying platform for electronics and other items. After starting with $5,000, it now earns seven figures annually.
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Transcript
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| 0:00.0 | You've heard of crowdfunding. What about crowd purchasing? Or crowd buying? |
| 0:13.2 | It's kind of the opposite, essentially, where buyers rally to purchase something for a book discount, |
| 0:17.9 | even though each individual buyer only wants one or two of the items. You can think of it as the |
| 0:22.5 | Costco of side hustling, how to start your own online Sam's Club, and the engineer you'll hear |
| 0:27.4 | about today creates just such a thing. It turns into a huge success. He begins with $5,000 |
| 0:32.8 | and start up capital, and it goes on to earn seven figures. Apparently, that's not just one time |
| 0:37.8 | seven figures, but seven figures a year. Is this guy a full-time entrepreneur? Does he go all in? |
| 0:42.6 | Does he risk it all to start his business? Well, if you've been listening to the show for a while, |
| 0:46.2 | you can guess he does not. He does all of this while working a busy day job. In fact, he's still |
| 0:51.6 | working that job even as this project has become fabulously profitable. So good for him, |
| 0:56.8 | he really can't do it at all. At least you can do these two things, or at least he can do these |
| 1:00.0 | two things. I'll tell you all about how he got the idea and made it happen in our featured story |
| 1:05.2 | following this message. The search is heating up for the people who make football better. |
| 1:10.6 | People like Sally Butler. It's really us about putting mums on the pitch where they belong. |
| 1:15.6 | Jimmy the Moa. It might only be a council-filled next to the tip for Brown Air, |
| 1:19.6 | but it's Wembley. Rachel O'Sullivan and Sophie Dowling. |
| 1:22.6 | Bringing women's football to a wider audience. |
| 1:25.5 | entries are rolling in. Who's your real football number one? |
| 1:28.8 | nominate them today and they could win a money car buy experience with Skybett prize drop. |
| 1:34.0 | Skybett for UK's number one betting app. |
| 1:37.2 | Back in 2013, Ron Justin was in need of a specialized electronics item that was only sold in |
| 1:53.8 | lots of 1000. Ron didn't need a thousand of them, he only needed one. In search of a crowd |
... |
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