Can You Monetize Your Passion? l Scott Jochim
Digest
This podcast episode explores the world of side hustles and entrepreneurship, featuring Gary Vaynerchuk and guest Scott, a successful entrepreneur who built a thriving business from his passion for toys. The episode begins with Gary emphasizing the importance of side hustles in a changing world, highlighting the potential of dog walking businesses and how passion can lead to lucrative side hustles. Scott shares his entrepreneurial journey, starting with buying and reselling goods at auctions in high school and transitioning to college, where he made early investments in a virtual reality company. He eventually decided to pursue his own ventures, driven by his passion for creating and building. Gary and Scott discuss the importance of passion and maintaining a youthful perspective in life and business, emphasizing the power of pursuing your passions and how it can lead to both happiness and success. Gary argues that people can make money from their passions, using examples like thrifting and Barbie. He encourages listeners to consider turning their hobbies into profitable ventures. Scott explains his transition from building large-scale simulators to creating small toys, discussing his early ventures into digital technology and the challenges he faced in disrupting the print media industry. He shares the story of how he created Squishland, a successful line of squishy toys, highlighting the importance of finding a platform that works and the power of vending machines as a retail channel. Gary and Scott discuss the potential of vending machines as a side hustle, highlighting the opportunity for individuals to purchase vending machines and place them in local businesses, sharing in the revenue. They also discuss the benefits of teaching kids about business through vending machines, sharing their own experiences with their children and how it can empower them to learn about entrepreneurship. The episode concludes with Gary providing Scott's contact information for listeners who are interested in learning more about his business, becoming a vendor, or exploring other opportunities.
Outlines
Side Hustles and Entrepreneurial Journeys
Gary Vaynerchuk introduces the episode and discusses the importance of side hustles and opportunities in a changing world. Scott shares his entrepreneurial journey, starting with buying and reselling goods at auctions in high school and transitioning to college, where he made early investments in a virtual reality company.
Passion, Youthfulness, and Turning Hobbies into Profit
Gary and Scott discuss the importance of passion and maintaining a youthful perspective in life and business. They emphasize the power of pursuing your passions and how it can lead to both happiness and success. Gary argues that people can make money from their passions, using examples like thrifting and Barbie. He encourages listeners to consider turning their hobbies into profitable ventures.
From Big Toys to Small Toys and the Rise of Squishland
Scott explains his transition from building large-scale simulators to creating small toys, discussing his early ventures into digital technology and the challenges he faced in disrupting the print media industry. He shares the story of how he created Squishland, a successful line of squishy toys, highlighting the importance of finding a platform that works and the power of vending machines as a retail channel.
Vending Machines as a Side Hustle and Teaching Kids About Business
Gary and Scott discuss the potential of vending machines as a side hustle, highlighting the opportunity for individuals to purchase vending machines and place them in local businesses, sharing in the revenue. They also discuss the benefits of teaching kids about business through vending machines, sharing their own experiences with their children and how it can empower them to learn about entrepreneurship.
Connecting with Scott and Exploring Opportunities
Gary provides Scott's contact information for listeners who are interested in learning more about his business, becoming a vendor, or exploring other opportunities.
Keywords
Side Hustle
A secondary job or activity undertaken in addition to one's main job, typically for extra income.
Vending Machine
A self-service machine that dispenses goods, typically snacks, drinks, or small toys, in exchange for money.
Passion
A strong and barely controllable emotion or feeling. In business, it refers to a strong enthusiasm for a particular activity or product.
Entrepreneurship
The process of starting and running a business, often involving innovation, risk-taking, and the creation of new products or services.
Youthfulness
The quality of being young or having a youthful attitude, often characterized by energy, enthusiasm, and a willingness to embrace new ideas.
Digital Frontier
The intersection of physical products and digital experiences, creating new opportunities for engagement and interaction.
Retail Experience
The overall impression and feeling a customer has when interacting with a business, including the physical environment, product presentation, and customer service.
Q&A
What are some examples of side hustles that can be profitable and enjoyable?
Dog walking, thrifting, selling collectibles, and creating content related to passions like Barbie or the Muppets are examples of side hustles that can be both lucrative and fulfilling.
How can I maintain a youthful perspective and passion in my life and career?
Focus on your passions, spend your free time doing things you love, and embrace a playful approach to life and work.
How can I turn my passion into a profitable business?
Identify your passion, research the market, develop a unique offering, and leverage digital platforms to reach your target audience.
What are the benefits of using vending machines as a side hustle?
Vending machines offer a low barrier to entry, a high-traffic retail location, and the potential for passive income.
How can I teach my kids about business?
Involve them in your side hustle, give them ownership of a small business, and teach them about managing inventory, finances, and customer service.
Show Notes
In today's episode, I am sharing a throw back episode where I sit down with Scott 'Mr. Sqwishy' Jochim, the CEO of Brand Vending Products, and Sqwishland. We chat about the importance of being passionate about what you do, and how realistic it is to monetize your passion if you're really good at it. We also explore the power and allure of vending machines, discussing not only their ability to attract attention but also the sentimental value they hold for many.
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