February 7, 2023

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This week’s customer began his side hustle with the target of having merely 10 shoppers in 90 days. 4 years later, he’s now the proud owner of a 7-figure undertaking!

Justin Tan is a Facet Hustle Provide listener who used to be inspired via Russ Perry’s tale in Episode 248 of the way he began Design Pickle.

In 2014, Russ used to be operating a creative corporate when he started to hate the whole thing about it. No longer desperate to in reality really feel like a prisoner of his private introduction, he sought out a brand spanking new undertaking model, one that provided unswerving, affordable, and scalable creative paintings at a flat rate.

Justin took inspiration from that model and applied it to video enhancing. And so, Video Husky used to be born.

Justin’s tale is one in all many examples of what can happen whilst you combine a demonstrable undertaking model with a unique idea and an untapped marketplace.

Song in to The Facet Hustle Provide interview to hear how:

  • Justin came upon his first shoppers
  • he scaled proper right into a full-time undertaking
  • he made the last word answer to step away

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The Inspiration for Starting Video Husky

4 years previously, Justin used to be merely operating Facebook commercials for a large number of corporations in Hong Kong.

He noticed that he saved encountering the similar problem: Customers couldn’t produce ok motion pictures for him and his staff to put it on the market.

Understanding this, Justin took inspiration from Design Pickle’s undertaking model, which he had heard about from a previous Facet Hustle Provide episode, and applied that to video enhancing.

He presented on a friend who used to be a skilled video editor and set the target of having 10 shoppers in 90 days.

“In my ideas, if we might get there, that can validate it.”

Landing the First 10 Potentialities

Then again landing those 10 shoppers wasn’t easy.

At the 86-day mark, Justin had only 4 shoppers, 3 of which were given right here from his previous Facebook ad undertaking.

Unfortunately, none of them had been fit.

With only 4 days left previous than the closing date, Justin made up our minds to put up a specific provide in a personal discussion board for marketers.

It grew to become out {{that a}} just right number of the crowd’s participants had been YouTubers who’ve been preventing video enhancing.

And those who weren’t YouTubers knew people who had been.

That purchased the ball rolling, so much so that Justin went from 4 to ten shoppers throughout the run-up to the closing date.

If truth be told, the surprising call for used to be so overwhelming that he had to ship on one different video editor to help care for their new shoppers.

Pricing a Video Enhancing Carrier

At the time, Video Husky if truth be told only had one competitor: Vidchops.

Vidchops has an similar undertaking model in that it costs shoppers a flat rate to make upper motion pictures, increase their corporations, and save time.

However, the lack of combatants raised the question of, how so much can we price for this?

All over again, Justin made up our minds to appear to Design Pickle for inspiration.

Design Pickle used to be charging spherical $370 per thirty days for its suppliers at the time. “I figured video enhancing is the following value,” Justin discussed.

And so, he set Video Husky’s starting worth at $495 per thirty days.

Nowadays, Video Husky has two programs: the starter “Pom” plan at $549 per thirty days and the awesome “Eskimo” plan at $749 per thirty days.

Then again those numbers didn’t appear out of thin air.

In keeping with Justin, he had to take numerous problems under consideration when atmosphere prices, very similar to the size of the flicks, the time it takes to edit a video, the editors’ skill level, and additional.

Accounting for those variables used to be moreover crucial in working out whether or not or now not editors might do tasks on a sustainable and repeated basis.

Tools and Tech

Justin makes use of 3 core tools in his undertaking. The tools he makes use of include:

  • Wrike – That’s the problem management platform Justin and his staff of editors, account managers, and purchaser luck agents use.
  • Stripe – That’s the device program that Justin uses to process finances from shoppers.
  • Microsoft Groups – That’s the platform Justin and his staff use for each and every interior and external communique.

Demanding situations of Scaling Proper right into a Complete-Time Undertaking

Turning an aspect hustle proper right into a full-time undertaking isn’t any walk throughout the park.

Then again for Justin, scaling used to be made a lot more tricky via the fact that he himself wasn’t a video editor.

“I don’t know what’s hard and I don’t know what’s easy.”

No longer all motion pictures require the similar amount of skill level to edit. Some editors are moreover upper suited for paintings on some motion pictures than others.

Due to his lack of information in video enhancing, Justin struggled to check the most productive video to the most productive editor.

“I merely saved on throwing motion pictures and shoppers to our editors and hoping it would all figure out,” he outlined.

Then again he would later come to hunt out that it’s upper to have editors assemble relationships with their shoppers via having them paintings with the similar shoppers.

That means, they get acquainted with the shoppers’ wishes and the best way they’ll greatest send that.

How COVID-19 Affected Video Husky

As used to be the case with many corporations international, the COVID-19 pandemic hit Video Husky hard.

The company out of place numerous shoppers at a time when it had 40 to 50 editors, effectively putting them throughout the purple.

“There were a couple of months where it used to be now not rather,” Justin discussed.

Then again he came upon a silver lining in that the pandemic confused him to think again how he ran his undertaking. In the long run, he discovered he sought after to supply it a better development.

To do that, Justin worked with a company known as CleverProfits, which helped him go through his undertaking’s expenses.

To him, that experience used to be eye-opening. He discovered he used to be operating Video Husky with a marketer’s mindset, now not an owner’s.

To be a fully-fledged undertaking owner, he had to understand the numbers, figure out the unit economics of his undertaking, what gross margin appeared like for a productized provider, and far more.

Deciding to Step Away

Irrespective of the growth and luck that Video Husky incessantly beloved over time, Justin came upon himself feeling burnt out.

By the time 2021 were given right here spherical, he felt frustrated and disgruntled. “I wasn’t paying attention. My eye used to be off the ball.”

Understanding his shortcomings — something that’s unusual for founders — Justin sought the advice of his entrepreneurial trainer, Taylor Pearson.

Related: Taylor Pearson on The Facet Hustle

Operating with Taylor made Justin understand that his place as CEO of Video Husky wasn’t right kind for him anymore.

He used to be left with 3 alternatives:

  • Advertise the undertaking
  • Paintings throughout the undertaking and get paid a lot of money
  • Hire a typical manager and get an affordable amount of dividends

He decided on the 3rd selection, having said that:

  • he now not related to their shoppers
  • he didn’t get pleasure from the each day paintings of being a CEO
  • someone else may be a better fit for the placement than he’s

Surprises Along the Way

Making an attempt once more at his four-year stint as founder, manager, and CEO of Video Husky, Justin recalled two stunning categories along the best way during which.

One happened from stumbling on a YouTuber who taught people simple how you can be a mermaid and monetized that via selling mermaid tail costumes.

“If she is going to be capable of do this, you most likely can assemble a undertaking off of one thing,” Justin discussed.

Justin moreover were given right here to hunt out that their greatest client used to be worth a lot more than their worst client.

The if truth be told just right shoppers accounted for 70% of Video Husky’s source of revenue, which represents spherical 80% of the company’s income.

In difference, the if truth be told unhealthy shoppers weren’t only unprofitable, then again moreover they actively out of place the company money.

“There’s something to be discussed about doubling down on your greatest shoppers.”

What’s Next?

Since stepping clear of Video Husky, Justin has taken on a specialist function for various productized provider corporations.

As a part-time consultant, he is helping corporations scale up in relation to each and every source of revenue and the size in their staff.

Justin has moreover been having amusing with dwelling a nomadic lifestyles together with his female friend, Alyssa Medway.

Alyssa provides her grant writing experience to not-for-profit organizations and community-minded corporations which may also be searching for investment to send impactful tasks.

Justin’s #1 Tip for Facet Hustle Country

For those who occur to can have enough money to, hire a virtual assistant.

Download Your Loose Bonus: 101 Carrier Undertaking Ideas

101 Carrier Undertaking Ideas

Confident inspiration for your next income circulate!

Input your email to procure all the list now:

You’re going to moreover download my greatest side hustle ideas and weekly-ish publication. Select-out anytime.

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