3 Blue Collar Side Hustle Ideas From A $40M Founder | My First Million

Intro

In this episode of the “My First Million” podcast, the guest is a successful entrepreneur who sold a sports betting site for $40 million. He shares his unique entrepreneurial journey, highlighting the importance of identifying emerging trends and taking calculated risks in entrepreneurship.

Main Takeaways

Identifying Emerging Trends and Taking Calculated Risks

• The guest dropped out of college and sold his company at the age of 23, showcasing the importance of taking bold actions in entrepreneurship.
• He recognized the potential of online gaming in the United States and capitalized on it by creating a mobile-first betting platform.
• The guest’s success in the sports betting industry emphasizes the importance of identifying emerging trends and being ahead of the curve.

Blue Collar Side Hustle Ideas

• The guest’s early business experience running a snow removal business in high school equipped him with valuable skills and a business sense.
• He shares three blue-collar side hustle ideas: the potential of a riverboat casino, the vending machine business, and the water taxi business.
• The guest explores the challenges and opportunities of each side hustle idea, highlighting the need for thorough research and analysis.

Opportunities in Niche Markets

• The guest emphasizes the value of niche markets, such as the duck call business, which can have dedicated communities and significant financial potential.
• He shares anecdotes about unique and unconventional business ventures, such as a riverboat casino and a water taxi business.
• The guest encourages entrepreneurs to explore opportunities that others overlook and operate in a field of their own.

Summary

Identifying Emerging Trends and Taking Calculated Risks

The guest’s entrepreneurial journey started with dropping out of college and recognizing the potential of online gaming in the United States. He saw an opportunity to create a mobile-first betting platform and took calculated risks to capitalize on the emerging trend. His success highlights the importance of being ahead of the curve and taking bold actions in entrepreneurship.

Blue Collar Side Hustle Ideas

The guest shares three blue-collar side hustle ideas. Firstly, he explores the potential of a riverboat casino, highlighting its historical significance and the complexity of obtaining licenses. He then discusses the vending machine business, initially dismissing it but later discovering its larger potential in rural areas. Lastly, he delves into the water taxi business, emphasizing the need for thorough research and analysis to overcome logistical challenges.

Opportunities in Niche Markets

The guest emphasizes the value of niche markets and shares anecdotes about unique business ventures. He highlights the potential of the duck call business, which has a dedicated community willing to pay top dollar. Additionally, he explores the possibilities of a riverboat casino and a water taxi business, showcasing his entrepreneurial mindset and interest in unconventional opportunities.

Conclusion

This episode of the “My First Million” podcast provides valuable insights into identifying emerging trends, taking calculated risks, and exploring blue-collar side hustle ideas. The guest’s entrepreneurial journey serves as inspiration for aspiring entrepreneurs to think outside the box and seize opportunities in niche markets. By embracing innovation and staying ahead of the curve, entrepreneurs can create successful and lucrative ventures.