Logan's Journey to CashFlow FI - Nov Update
I'm Logan, the co-founder of Topia and a passionate advocate for FIpreneurship. Alongside my pursuit of building the ultimate FI app, I embarked on a parallel journey, driven by an insatiable desire to create diverse income streams. From bagpiping to e-commerce, each side hustle I have crafted represents not just a step towards my Cashflow FI goal but a message to others that financial liberation is within their grasp.
My goal isn't merely to reach Cashflow FI myself; it's to ignite the spark of entrepreneurship in others, demonstrating through real-life examples that it's more than possible to build successful side businesses and unlock financial freedom. Join me as I pull back the curtain on this journey, revealing the strategy, sweat, and satisfaction that come with crafting a life on your terms. Together, we'll explore the multifaceted path to Cashflow FI, one side hustle at a time.
An Invitation to the Backstage
As we stride forward, I'm committed to taking you with me on this exhilarating adventure. Through weekly updates, I'll provide a transparent look into all these hustles. Income numbers, successes, failures, strategies – everything will be laid bare, offering you a real-time insight into what it takes to unlock Cashflow FI.
Here's an overview of my active side businesses in November
The Bagpiping Empire
Net Income: $300 ~ 2 hours spent working on this side biz in Nov
Hourly wage: $150/hour
This November, the melody of progress played beautifully for our Bagpiping Empire. I secured six lucrative bookings, which I then successfully passed on to fellow talented pipers. For each of these bookings, I earned a commission of around $50. The best part? It only took about 20 minutes to arrange each offload. Efficient and profitable – that's how we tune our business in the world of bagpipes.
Product 1: Secret Flasks
Net Income: $3,500 ~ 16 hours spent working on this side biz in Nov
Hourly wage: $218/hour
Viral Success and Strategic Independence
In our efforts to reduce reliance on Amazon and improve profit margins, we've focused on driving more sales directly through our Secret Flask website. This shift aims to increase our margins by 20%, bypassing Amazon fees. Excitingly, our TikTok marketing efforts are paying off. A recent video promoting Secret Flask went viral, amassing an incredible 2.4 million views! This exposure is a game-changer for our brand visibility and sales.
Product 2: Scottish Gifts
Net Income: $120 ~ 15 minutes spent working on this side biz in Nov
Hourly wage: $120
I've shifted gears to focus more on my other Amazon products, but the Scottish Gifts aren't lost in the Highlands. They're just brewing for a stronger comeback
Product 3: Prismic Knives
Net Income: $625 ~ 10 hours spent working on this side biz in Nov
Hourly wage: $62.5
The Influencer Outreach Challenge:
Progress with Prismic Knives has been steady, but finding the right influencers for promotion has been more challenging than anticipated. We're exploring various influencer platforms to streamline this process. Our goal is to partner with influencers who resonate with our brand ethos and can authentically showcase our products. I'll keep you updated on the outcomes of these efforts in our next monthly round-up.
TikTok Travel Account
Net Income: $0 ~ 8 hours spent working on this side biz in Nov
Hourly wage: $0
Building Brand Partnerships
While our TikTok travel account continues to grow, our focus has shifted towards securing brand partnerships for the 2024 season. Despite reaching out to numerous hotels, responses have been slower than expected. This challenge is a reminder of the persistence needed in the digital influencer space. We're committed to following up and refining our approach to establish meaningful collaborations.
Net Income: $0 in ~ 7 hours spent working on this side biz in Nov
Hourly wage: $0
This month, we've completely revamped our boat rental website. The new design and offerings are tailored to attract a more high-end, luxurious clientele. This strategic shift is not just about aesthetics; it's about aligning our services with the expectations of a discerning market. We're excited to set sail in this new direction and anticipate significant growth in the coming year.