Is it doable? Evidently, it is!
American entrepreneur and founder of AppSumo, Noah Kagan accomplished setting up a business, finding the right customers and made in excess of $1000 in just 24 hours. Taken on as a challenge, Kagan set out to set up and organise a business from nothing but his laptop and the resources he had readily available to him, and make a small amount of money with it in what might be considered as ‘no time at all’.
Many of us know that starting a business does require a lot of thought, validation and funds in order to get it off the ground. Kagan abolished the traditional steps and instead worked in a very succinct method for identifying his product, finding the solution and implementing the process to gain customers and accomplish the final goal, $1000.
Listen up because this can all be transferred into any start-up of any kind. The challenge made Kagan think about a problem he regularly faces himself. A regular eater of Beef Jerky who doesn’t have enough time to go out every day to buy it decided this would be his service. He provided the people with a Beef Jerky delivery service that could be opted in to for either 3 or 6 months at the low price of $20 per month. That equated to $0.67 worth of Jerky per day. After doing the math, Kagan quickly realised this amount of money was both cheaper and more viable than going out every day and buying singular bags at the local kwik-e-mart. Bargain!
With this in mind, the proposition started to take shape. The idea was forming in his head, he had the fundamentals now all he needed was the execution. He went through the various inception stages any business goes through: choosing a name and getting a website. For a low, low cost he acquired the site and after various name suggestions (noahisajerk.com) he settled with SumoJerky after his company, SumoApp but that’s neither here nor there in terms of relevancy, it’s only a small business, what can you expect with the span of a 24hr business?
Moving on…Kagan was essentially successful with his idea. He went through the necessary validation stages, asking people what they want as opposed to guessing what they need. Working backwards he saw a clear path to what he needed to do and how he needed to do it to succeed. A keen Kagan found that tools available to him such as Facebook, Twitter and LinkedIn proved to be valuable resources for him when sourcing out potentially customers and businesses. He placed a referral scheme with his campaign, asking his friends to share his pre-made post so to reach out to more people. He would ask if the person he addressed was interested, if they weren’t he asked if they knew someone who would be. Never did he ask for that person to spam his or her friends with the business, nor did Kagan expect that to happen. He strategically placed the content in from of them, gave a smile and a cheeky wink and left them to decide whether or not to pass the message on. Simple as.
The end result saw Kagan walking away with over $3000 in revenue that equated to just over $1000 in profit neatly folded and placed in his back pocket. Under 24 hours, nothing but what was a personal problem (a first world problem) and the platforms on his laptop, and the occasional disruptive co-worker or mate, Noah Kagan successfully started and operated a fully functional business. In the end he turned a 24 hour business in to a minimum of 6 months with the packages he was offering. Think about the profit he would have made carrying on that model in a month…by the logic of what he made in a day, somewhere around the $20,000 a month, $240,000 a year, $720,000 after the first three years. PROFIT! That might be pushing it a little but you catch my drift.
To round up. Why can’t you do this? I’m not saying solve my personal issue because I’m too lazy to do that myself but, why can’t you make your own success story like Noah Kagan’s? Nothing is stopping you. Create that Side Hustle and hustle yourself some extra wonga on the side. Who knows, you might be the next Zuckerburg, Jobs AND Bezos all rolled into one.