Issue #7: RIP My New Meta

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THE DEEP DIVE

Storytime: Is Franchising the Entrepreneurial Cheat Code or Just Cheating?

🌅 Picture this: You're playing the game of entrepreneurship. You've got your character all set up - a plucky ex-corporate warrior with a dream and a caffeine addiction. But as you're about to hit "Start Game," you notice a tantalizing option in the corner: "Franchise Mode."

Do you take it? Or is that like using cheat codes to skip the hard levels?

Now, before you start thinking I'm abandoning ship on our current ventures, let me assure you: we're still full steam ahead on building our media empire, developing our tech play, and growing our real estate development advisory business. This franchise exploration? It's like adding a new character to our entrepreneurial party. Because why settle for one adventure when you can juggle multiple quests, right?

❎ The Franchise Files: When Your Wife is the Real Entrepreneur

SCENE: A cozy home office. GREG is hunched over his laptop, furiously typing his newsletter. His wife, KIRSTEN, enters with an excited gleam in her eyes.

KIRSTEN: Greg, honey, I think I've found something amazing!

GREG: (not looking up) Mmhmm, that's great, dear. Did you find my lost motivation to do burpees?

KIRSTEN: No, silly. I've found a franchise opportunity that's perfect for us!

GREG: (finally looking up, eyebrow raised) A franchise? Like, flipping burgers and wearing a funny hat? I don't think that's quite on-brand for the #1 'Entrepreneur in Training.'

KIRSTEN: (rolling her eyes) No, it's tech and real estate “adjacent” and requires zero employees. It's right up our alley!

GREG: (skeptical) I don't know... Franchising seems a bit... pedestrian. What will my newsletter readers think? What about those hardcore tech bros on Reddit?

KIRSTEN: (sighs) Greg, sometimes I think you care more about your image than actual opportunities. I've run the numbers, and they look good. It's 80% passive income!

GREG: (muttering) Passive income does sound nice...

KIRSTEN: Plus, it's a great way to diversify our portfolio. We can't put all our eggs in the 'Greg's going to write a viral newsletter' basket.

GREG: (mock offended) Hey! My newsletter is very important. I'm changing lives here!

KIRSTEN: (softening) I know, honey. But while you're changing lives, we need to think about our future, too. This franchise could be a game-changer for us.

GREG: (thoughtful) I guess you have a point. But franchising just seems so... un-entrepreneur-like. It's like using cheat codes in a video game.

KIRSTEN: (exasperated) Or it's like smart business strategy. Not everything has to be built from scratch to be valuable, Greg.

GREG: (sighing) I suppose you're right. You usually are. Tell me more about this opportunity.

KIRSTEN: (excited) Well, it's a….REDACTED DUE TO NDA

(Conversation fades as KIRSTEN launches into details)

FADE IN: Several hours later. GREG looks impressed, if slightly overwhelmed.

GREG: Wow, you've really done your homework on this.

KIRSTEN: (smiling) Of course I have. I'm an engineer, remember? We don't just jump into things without thorough analysis.

GREG: (sheepish) Unlike certain newsletter writers who shall remain nameless?

KIRSTEN: (laughing) Exactly. So, what do you think? Should we pursue this?

GREG: (nodding slowly) You know what? Let's do it. You've convinced me. It's a smart move, and if it works out, it'll make a great story for the newsletter.

KIRSTEN: (rolling her eyes affectionately) Always thinking about content, aren't you?

GREG: (grinning) Hey, gotta give the people what they want! So, what's our next step?

KIRSTEN: We're meeting the franchisors in person next week. I've already booked our flights.

GREG: (impressed) Wow, you really are the real entrepreneur in this family, aren't you?

KIRSTEN: (winking) Took you long enough to notice. Now, back to your very important newsletter, Mr. Entrepreneur in Training. I'll handle the details.

GREG: (saluting playfully) Yes, ma'am! And Kirsten? Thanks for always keeping us moving forward.

KIRSTEN: (smiling) That's what partners are for. Now, get back to work!

(GREG turns back to his laptop, a new spark of excitement in his eyes. KIRSTEN exits, already planning their next big move.)

THE END

The Plot Twist: Maybe It's Not Cheating, It's Smart Playing

Maybe franchising isn't cheating. Maybe it's just smart playing. Think about it:

1. ⛔️ Risk Reduction: It's like having a save point in a video game. You're less likely to lose all your lives (and money) in one go.

2. 📕 Learning Opportunity: It's a crash course in Business Management 101, without the student loans.

3. 🏢 Scalability: Once you master one franchise, you can level up to multiple locations. It's like unlocking new characters in Mortal Kombat!

4. 🧑‍🚒 Support System: You're not alone in the boss fight. You've got a whole franchise network backing you up.

Once the NDA is lifted, we will finish the story!

SMALLER DIVE

🎬 Side Hustles: You don't need 20 hours a week, equity investors and an MBA to start one.

You need an audience, a product/service to launch and basic marketing.

In this new weekly series, we will go from Chucky being a ”side hustle curious” to monetizing his overly specific niche.

Week 1: The Niche

SCENE: It's a crisp autumn evening. Greg is sitting in his home office, surrounded by sticky notes and whiteboards covered in business ideas. He's video chatting with Chucky, a loyal reader of My New Meta. Chucky's video background reveals a meticulously organized collection of various sports memorabilia.

GREG: Hey Chucky! I heard you've been struggling to find your perfect side hustle niche. What's the deal?

CHUCKY: (sighing) Yeah, Greg. I'm bursting with enthusiasm after reading My New Meta every week, but I just can't seem to nail down what I should focus on. There are so many options!

GREG: I feel you, Chuck. It's like being a kid in a candy store, except the candy is a potential business idea, and you're a grown adult with bills to pay. But fear not! I've got a secret weapon that might help.

CHUCKY: (perking up) Really? I'm all ears!

GREG: Ever heard of Andrew Huang's framework for deciding what to work on? It's like a treasure map for your side hustle journey.

CHUCKY: Sounds intriguing. How does it work?

Let's break down this powerful tool for finding your perfect side hustle niche. Huang's framework is a Venn diagram with five intersecting circles:

1. What you want to do

2. What you're good at

3. What makes money

4. What's trending

5. What's worked well before

The sweet spot for your ideal side hustle lies at the intersection of these five elements. Here's how to put this framework into action:

1. 🧠 Brainstorm ideas for each circle. Don't hold back – let your creativity flow!

2. 🔗 Look for overlaps between the circles. The more circles an idea hits, the stronger its potential as a viable niche.

3. ⬆️ Evaluate your top contenders. Consider factors like market demand, competition, and your personal passion for each potential niche.

4. 🧘 Choose your focus. Remember, a narrow niche helps you stand out and become a recognized expert in your field.

By applying this framework, you're not just throwing darts in the dark. You're strategically aligning your interests, skills, and market opportunities to find a side hustle that's both fulfilling and potentially lucrative.

Here's a pro tip: Start by brainstorming what you want to do and what you're good at. Then, leverage your favourite AI assistant to help with the rest of the framework. This can save you time and provide valuable insights.

Here's a prompt to get you started:

This prompt will help you generate ideas and insights tailored to your interests and skills. Remember, while AI can provide valuable suggestions, the final decision should be based on your passion and thorough research.

CHUCKY: (excitedly) Greg, I did it! I used the framework and found my perfect niche – Antique 5 Pin Bowling Ball Collecting!

GREG: (impressed) Wow, Chuck! That's certainly... specific. How did you land on that?

CHUCKY: It ticks all the boxes! I love vintage sports equipment, I'm great at research and restoration, there's a growing market for niche collectibles, and it's a trending hobby in certain circles. Plus, I've had success selling other antique sports items before.

GREG: That's fantastic, Chuck! You've found your niche bullseye. So, what's your next move?

CHUCKY: (hesitating) Well... that's the thing. I've got my niche, but now what? How do I turn this into a real side hustle?

GREG: (chuckling) Ah, the eternal question of every budding entrepreneur. But don't worry, Chuck. That's a whole other adventure – one we'll dive into next week. Get ready to roll with your bowling ball business!

Stay tuned, folks! Next week, we'll explore how to take your newly discovered niche and transform it into a thriving side hustle. Whether you're collecting antique bowling balls or selling artisanal popcorn to squirrels, we've got you covered!