Episode
#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
1:10:25
Published: Fri Jun 25 2021
Description
Justin Mares (@jwmares) joins Sam (@TheSamParr) and Shaan (@ShaanVP) on this episode. Justin breaks down his most popular blog post, the 4 types of side hustles, and brings all kinds of ideas for how you can start your own. They also talk about Justin's DTC businesses - Kettle & Fire, Perfect Keto, and Surely Wines. They end the episode with a few ideas around camping, a new dating app, and how to leverage VAs & no code tools. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * (1:23) How Sam & Justin know each other * (5:17) Justin's DTC bone broth company * (10:00) Frameworks for side hustles * (13:22) Side Hustle 1: Buying an asset * (17:51) Side Hustle 2: Launching on top of a marketplace with demand * (22:08) Side Hustle 3: Unique product that grows through paid acquisition * (25:31) How Justin balances all his projects * (30:38) The $30K/year CGM experiment * (39:09) The skinny on Duck Duck Go * (42:32) Ideas: Airbnb camping * (45:27) Idea: Non alcoholic wine * (51:10) How to naturally boost your T levels * (1:01:04) Idea: Dating app based on your credit card usage * (1:03:49) Idea: The no code automation officer * (1:07:28) How to follow Justin
Chapters
The podcast hosts discuss a subreddit dedicated to slightly off things that are mildly interesting and speculate on the potential profitability of such a platform.
00:00 - 01:51 (01:51)
Summary
The podcast hosts discuss a subreddit dedicated to slightly off things that are mildly interesting and speculate on the potential profitability of such a platform.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
The speaker shares his disbelief on why engineers would want to start hard good businesses, particularly those involving bus tracking software in the internet era, before the rise of direct-to-consumer trends.
01:51 - 07:06 (05:15)
Summary
The speaker shares his disbelief on why engineers would want to start hard good businesses, particularly those involving bus tracking software in the internet era, before the rise of direct-to-consumer trends.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
The speaker talks about their clean label line of foods and supplements for people on a ketogenic diet or wanting to eat fewer carbs and sugars.
07:06 - 09:26 (02:19)
Summary
The speaker talks about their clean label line of foods and supplements for people on a ketogenic diet or wanting to eat fewer carbs and sugars. They also mention a neighbor living 30 feet away who's probably involved in the same kind of business.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
The speaker discusses how he started various side hustles to generate income and achieve financial freedom while pursuing his desire to launch a company that would create significant equity value.
09:26 - 13:28 (04:01)
Summary
The speaker discusses how he started various side hustles to generate income and achieve financial freedom while pursuing his desire to launch a company that would create significant equity value. He breaks down the different types of side hustle businesses that can help achieve this goal.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
Focusing on up-and-coming platforms with less competition can be a perfect place to start a new side hustle.
13:28 - 19:27 (05:59)
Summary
Focusing on up-and-coming platforms with less competition can be a perfect place to start a new side hustle. Existing marketplaces with established demand, like Airbnb, can also be a lucrative area to provide the supply side while understanding how to perform best and gain traction.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
The hosts discuss the surprising trend of bone broth and using Google searches to build a successful business.
19:27 - 25:15 (05:47)
Summary
The hosts discuss the surprising trend of bone broth and using Google searches to build a successful business. They also touch on the lack of resources for technical marketing and data analytics in the Unimi community.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
In this episode, the speaker discusses the challenges of becoming a founder or CEO, and how building a side hustle requires a different set of skills.
25:15 - 30:10 (04:54)
Summary
In this episode, the speaker discusses the challenges of becoming a founder or CEO, and how building a side hustle requires a different set of skills. He shares his experience of co-founding Perfect Keto and stepping away from it to work on things he is interested in.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
The power of incentivizing behavior can lead to significant changes with just small rewards such as brownies, as demonstrated in personal anecdotes and experiments.
30:10 - 34:03 (03:52)
Summary
The power of incentivizing behavior can lead to significant changes with just small rewards such as brownies, as demonstrated in personal anecdotes and experiments.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
This podcast discusses the possibilities of betting money on different outcomes and mentions Toodle Do, a platform that gained customers through a mere mention in a book.
34:03 - 38:03 (03:59)
Summary
This podcast discusses the possibilities of betting money on different outcomes and mentions Toodle Do, a platform that gained customers through a mere mention in a book.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
DuckDuckGo, a popular search engine, is considering expanding their offerings to include health boot camps and other premium services.
38:03 - 42:52 (04:49)
Summary
DuckDuckGo, a popular search engine, is considering expanding their offerings to include health boot camps and other premium services. With a focus on privacy, they have been receiving positive feedback as Big Tech becomes more invasive.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
Camping, as opposed to staying in hotels, has become increasingly popular due to new platforms like HipCamp.
42:53 - 45:48 (02:55)
Summary
Camping, as opposed to staying in hotels, has become increasingly popular due to new platforms like HipCamp. To capitalize on this trend, one could build a profitable business by providing basic needs for campers in popular locations.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
The speaker discusses the prevalence of non-alcoholic options in the beer and spirits categories but notes a lack of options for non-alcoholic wines.
45:48 - 48:56 (03:08)
Summary
The speaker discusses the prevalence of non-alcoholic options in the beer and spirits categories but notes a lack of options for non-alcoholic wines.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
Millennials and Gen Z are shifting towards "consciousness altering substances" like cannabis, psychedelics, and catamene instead of alcohol for social events as they are perceived to not have a hangover.
48:57 - 51:17 (02:20)
Summary
Millennials and Gen Z are shifting towards "consciousness altering substances" like cannabis, psychedelics, and catamene instead of alcohol for social events as they are perceived to not have a hangover.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
The speaker talks about using alternatives like powder as toothpaste and warns about the negative effects of hormones on health.
51:18 - 54:02 (02:44)
Summary
The speaker talks about using alternatives like powder as toothpaste and warns about the negative effects of hormones on health. He mentions a telemedicine doctor that suggests solutions to improve low hormone levels.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
The harmful effects of vegetable oils and specifically linoleic acid are discussed and compared to the past unpopularity of raw denim.
54:02 - 58:38 (04:35)
Summary
The harmful effects of vegetable oils and specifically linoleic acid are discussed and compared to the past unpopularity of raw denim. The conversation also touches on the tendency for some people to over-optimize healthy habits.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
The difficulty in assessing the effectiveness of health and wellness trends lies in individuals' baseline health and their ability to discern meaningful change versus insignificant change in their well-being.
58:38 - 1:02:25 (03:47)
Summary
The difficulty in assessing the effectiveness of health and wellness trends lies in individuals' baseline health and their ability to discern meaningful change versus insignificant change in their well-being. While some individuals may find value in such trends, others may find them unhelpful or even superstitious.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
The concept of matching people up based on their spending habits is discussed.
1:02:25 - 1:06:47 (04:21)
Summary
The concept of matching people up based on their spending habits is discussed. The idea is that people with similar spending habits may have better compatibility from a lifestyle standpoint.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
This podcast episode discusses the correlation between being a good entrepreneur and being good at creating content, including personal opinions and experiences around the topic.
1:06:47 - 1:10:11 (03:23)
Summary
This podcast episode discusses the correlation between being a good entrepreneur and being good at creating content, including personal opinions and experiences around the topic.
Episode#194 with Justin Mares - The 4 Types of Side Hustles and how to launch a $100M DTC brand
PodcastMy First Million
The podcast hosts thank the guest speaker for joining and sharing their ideas, stating that they are a perfect fit for their audience.
1:10:11 - 1:10:29 (00:17)
Summary
The podcast hosts thank the guest speaker for joining and sharing their ideas, stating that they are a perfect fit for their audience.