How I Launched A Side Hustle Accelerator As A 20-Something Year Old
Hello everyone, my name is Sarvesh and I am the founder of Launchpilot. Launchpilot is an accelerator to build sustainable side hustles where we curate unique expert-led programs, with a core focus on implementing these ventures.
Think of us as an e-learning platform, but instead of teaching you boring web development and marketing courses that you use in your mundane 9-5 job, we teach you different ways to leverage your passion and existing skill sets to implement side hustles and make money by being your boss.
Also, we just don’t bombard you with information that is available elsewhere, rather we help you learn and implement stuff through our live & 1:1 mentoring sessions, having partnered with global side hustle experts.
Our mission is simple - build more self-sustaining entrepreneurs, but we understand that not everyone has the luxury of leaving their jobs to flirt with the risk of starting up. A lot of people need a stable source of income, and hence our programs allow them to fulfill their entrepreneurial ventures by implementing these side hustles through end-to-end expert guidance, and then taking a call.
We have just started, but we have helped over 500+ side hustlers launch their ventures, hitting projected monthly revenues of $10k/month. The remaining 3 months of 2023, look exciting as we start to partner with global universities to make our programs part of their entrepreneurial curriculum, and are looking at a 25-30% monthly increase in our user base.
What's your backstory and how did you come up with the idea?
I started this company while I was working at a full-time job in Consulting, based out of Singapore. I have been based in Singapore for the past 6 years now, having completed my undergrad studies in engineering at the prestigious Nanyang Technological University, which is consistently rated as the top 10 universities across the globe.
NTU was a dream ride, where interacting with people from different perspectives shaped my overall vision. More than studies, I loved working - be it part-time work or full-time internships over the holidays and Singapore had tons of opportunities to work across startups and the corporate world to get a good taste of both sides of the coin. More than the classroom, I was keen to explore the work world outside of it.
Through my various stints, I realized that wanted to build something of my own, and while I loved my job - I knew my calling was to create something that I could truly call my own. I did not know what, but I knew I wanted to build something of my own. I thought about web3, AI, and a host of other ideas - the world seemed like an island of opportunities.
However, like any 20-year-old something, I realized I thought so much more than actually implementing these ideas. This realization became more evident as I started speaking more and more to people around me and realized it was just not me.
One thing was clear - so many people wanted to do stuff of their own apart from their jobs, but not everyone built something that would give them the freedom they desired.
And I could see 3 possible reasons for that problem statement:
- Lack of time and resources to fully dive into a side hustle, a startup idea, or a passion project. Everyone around me had so many ideas and skill sets that they could truly build something of their own, but they just did not have the time and energy after their daily jobs to take this up head-on on their own.
- Not everyone had the luxury and privilege of leaving their jobs, a stable income source, and experimenting with their dreams of building their ventures.
- Our education system around the world does not give us a taste of what it is to be responsible for building a business from the ground up. Naturally, most people are clueless and daunted by the task of starting up.
I soon realized the opportunity at this stage. Ed-tech platforms focused on up-skilling and taking you higher and higher in the corporate world. But what about someone, who wants to build something of their own that gives them a secondary income source, work remotely from a beach, or own his/her time and freedom without having to risk it all?
We initially started with a custom SaaS tool to help people build MVPs (Minimum Viable Products) to launch their business. The idea was simple - remove the technical barrier that hinders people from launching their ventures. Our clients loved the concept, because it allowed them to focus on what their primary sellable skill was, while we took care of the behind-the-scenes technical development.
On seeing the overwhelming response to this, we decided to expand and venture into the world of side hustles and passion projects and build an eco-system around it by partnering with global experts, and curating programs where people get the resources they need to implement these dreams without having to quit their stable income sources. People needed a cushion to follow their hearts practically, and we provided them with just that.
We have just started, but today we have helped 500+ side hustlers build something of their own - be it a side hustle that they can monetize or a business in a domain they were passionate about. But most importantly, it is something that gives them freedom and a sense of identity that truly belongs to them. And we are just getting started!
The funny part is that Launchpilot for me was also a side hustle initially. After long hours in my consulting job, I would dive deep into feedback calls & strategy sessions to build on my dream sacrificing on so many weekend plans!
But I loved that madness - I was ideally the first customer of my vision and building a product from the ground up has been a priceless journey. What I loved the most was heading into the unknown, with no clue on what lies on the other side, and slowly and gradually figuring things out!
Take us through the process of building the first version of your product.
The most common mistake that a lot of young passionate entrepreneurs make is to start building a product without validating their idea and get feedback on the solution they have in mind. Before crafting our vision, my co-founder and I used to hop on calls with relevant stakeholders in our eco-system to understand every aspect of the business. And this exercise gave us so much clarity and new perspectives.
Rather than investing resources in development, we used a lot of no-code tools to build our first version of the product. The most used tools we used were Wordpress and Bubble for development. Wordpress in particular is very useful and easy to learn, with a lot of adaptable plugins that can add a host of features to a simple website.
Bubble had a better interface, but the learning curve in Bubble was a lot more steeper. For us, our requirements were basic - we ideally needed an LMS that could host courses, live sessions, and one-on-one mentoring sessions and these tools were more than enough for us to scale and grow.
This idea of using no-code tools to build our platform allowed us to iterate quickly and grow sharper, compared to traditional tech development. We could act on feedback quickly and improve the product overnight so it could align more with our customer's needs.
Here, it was a tricky decision to make, because my friends and I had some coding experience but the key was to exploit the benefit of these no-code tools and like I said above, to validate what we had built first. Technical development naturally takes time, because you need to learn on the go. For no-code tools, the process is made 10x faster.
By this time we had started receiving interest from angel investors/family offices and VC firms for an initial pre-seed investment that could aid in our launch. What worked for us here was my networks. Right from university, I was active in the startup scene in Singapore and this allowed me to use my network. An advice of gold that I got was that a founder needs to nurture relationships with investors.
The key is to reach out to people who have something to offer to them. True networking isn’t through cold emailing or cold messaging but actually building something and then talking about it with people. VC and investing work well when you can build that network and relationship with investors. VC events help but relationship building is a long-term game where overnight miracles are quite rare
We were more than happy to have some stalwarts onboarded who were so enthusiastic about our mission and vision. This gave us a runway to build our product and direct our efforts in marketing and sales to get relevant customers.
Our initial strategy was to get working professionals stuck in their corporate jobs and itching to do something of their own. These folks had the desire to build something of their own. We also saw a great opportunity in partnering and selling our programs to universities.
Our educational system around the world hardly prepares students for building businesses or taking that responsibility from the ground up for scaling and monetizing a value-adding skill that they have. Our programs suddenly opened up gateways for anyone and everyone to build their ventures with expert guidance!
Today, our target market extends from university students to working professionals to stay-at-home moms to digital nomads and to anybody who wants a secondary income source with a burning passion for building their own identity through their work.
Describe the process of launching the business.
Embarking on the journey of launching my business demanded a systematic approach, comparable to constructing a complex structure. The inception involved extensive planning, wherein I meticulously identified a specific niche for side hustle programs and gained a deep understanding of the target audience through thorough market research. This insightful research was instrumental in tailoring programs to meet the distinct needs within the identified niche.
The first step involved building a strong online presence. Social media played a pivotal role; initially, we leveraged platforms like Instagram, LinkedIn, and Facebook to create buzz. For us, LinkedIn worked like magic. Reaching out to people and tapping into existing networks helped us a lot. I also realized that there are so many people out there who are willing to help and create an impact - the key is to reach out to them and nurture relationships.
One leads to another which in turn leads to another is a concept I love believing in. Because of this network that we built, we could start selling our programs to a lot of B2B communities as well who shared a similar mission and could see the impact and hands-on implementation we were offering.
Instagram and Facebook are platforms that can amplify reach but takes time to grow a community and following. It is something that we are still working on honestly! We did run a few paid advertising campaigns on these platforms and they worked like magic for us. We had a specific weekly budget for these ads to make sure we don’t overspend especially when targeting geographies such as the USA. Another learning was to make sure that the ads are tailored to the market you are running the ads in - an ad creative for the US market will be much different from the ad creative in the SE Asian market.
Collaborations with influencers in the entrepreneurship sphere amplified our reach. This was again through personal networks. The strategy was to tap into influencers who align with our vision and whose content is more relevant to what we are building.
Instead of running them as campaigns, we proposed more of an affiliate model and a revenue-sharing model with these creators because our platform was about to be implemented. Most creators/influencers speak - we were value-adding to their customer base by actual hands-on implementation and that is where we were standing out from any other brand.
Parallelly, we employed email marketing, targeting our subscriber base with informative newsletters and special launch offers. Networking events and webinars proved effective, allowing us to showcase our expertise and connect with potential clients. The strategy to grow our email list was through a slightly different move - paid ads only. We did not run newsletters/blogs or other traditional ways of nurturing email lists.
The idea was to invest in a community and paid ads were attacking emotions that people could relate to. Before an email list, we had a WhatsApp group (the easiest form of connecting people) and then leveraged that to build an email list once we hit a certain number of members.
The crucial factor in our successful launch was staying adaptable. Monitoring analytics, listening to feedback, and swiftly tweaking our strategies ensured a resonant chord with our audience. Understanding what works for you will only come from experimenting with the possible options at hand. The key is to remain frugal while experimenting and knowing when to double down on a strategy that you think will work in your use case.
The key is to understand what works for your customer base and then stick and go deep into that strategy in the initial stages.
Since launch, what has worked to attract and retain customers?
There is so much information about this topic on the internet that I can write 10 paragraphs. But I will keep it short and focus on the most important point that founders miss out on.
The product might be built by you, but the solution it solves is for your users. To retain and attract users, the only key item is to LISTEN to them without any biases or assumptions. The more you listen to your customers, the more you understand what THEY need and not what YOU want them to need.
Marketing in today’s world is changing rapidly. There are so many methods out there - from influencer marketing to social media content and organic reach, to affiliate commissions - but the key is to understand what works for your customer base and then stick and go deep into that strategy in the initial stages.
Startups during the launch are absolute chaos so summarising 5 most important points we did at Launchpilot:
- Offering specialized and diverse side hustle programs catering to various entrepreneurial interests.
- Leveraging a compelling online presence through an engaging website and active social media engagement.
- Engaging in targeted email marketing campaigns to effectively reach and resonate with potential customers.
- Prioritizing exceptional customer service, promptly addressing inquiries, concerns, and feedback.
- Collaborating with industry influencers to extend our reach and enhance credibility within the entrepreneurial community.
How are you doing today and what does the future look like?
Currently, my business stands on solid ground, showing promising signs of growth and sustainability. More than revenue, I believe in impact and despite just a few months from our launch, we have already helped 500+ side hustlers build their ventures.
We've witnessed a notable increase in the enrollment for our side hustle programs, indicating a growing interest in this niche. The feedback from participants has been overwhelmingly positive, reinforcing our belief in the value we bring to budding entrepreneurs. “Money is the by-product of a job well done” - a quote I strongly believe in!
Most importantly, we have started partnering with global universities such as NUS to make our programs a part of the entrepreneurial programs that these institutions have. This was a huge victory for us because it allowed us to create an impact in the educational sector, by making it more entrepreneurial based. And create a dent in an industry I am extremely passionate about!
However, the biggest victory for us is to reinforce that the concept of side hustles has come to become more than just supplementary income. It symbolizes the freedom to chase one's passion, explore diverse interests, and enjoy ownership of a venture. Participants have shared their stories of newfound autonomy, flexible schedules, and the joy of nurturing something that's uniquely theirs.
This empowerment has a ripple effect—inspired individuals, driven by their side hustles, often become catalysts in their communities, inspiring others to embark on a similar journey toward financial independence and fulfillment. As we continue on this path, we aim to amplify this impact, fostering a world where side hustle ownership is a symbol of personal and financial freedom.
Through starting the business, have you learned anything particularly helpful or advantageous?
Embarking on the entrepreneurial journey presents its unique challenges and rewards. Personally, I desired to blend adventure, travel, and meaningful work, steering away from the confines of a typical office job at the age of 23. It's essential to candidly understand oneself, discern what aligns best, and pursue it with unwavering sincerity.
The transition from the predictability of a full-time job to the uncertainty of a startup is difficult for anyone and when you are young and raw, it becomes all the more challenging. Navigating the intricacies of leading a startup as a young entrepreneur came with its distinct set of trials - building a product, selling it, managing emotions, and keeping finances in check but the journey of figuring things out on the go and your own is another feeling altogether.
Striking a balance between team expectations and business objectives required a delicate equilibrium. Entrepreneurship epitomizes a fusion of ambition, pragmatism, and adaptability, demanding mastery over emotions in both personal and professional realms.
The key is to have an open mind to absorb everything life throws at you and take it all as a seasoned learning experience!
What platform/tools do you use for your business?
- Wordpress
- Bubble
- Canva / Canva Magic Studio
- Figma
- Adobe
- Vimeo
- Google Analytics
- Zapier for email automation
- PixaBay for stock images
- SERanking for SEO
- Internshala for hiring interns
- LinkedIn Ads
What have been the most influential books, podcasts, or other resources?
“How I built this with Guy Raz” has been my go-to podcast. I love Huberman’s Lab for personal development as it touches on key points. Currently, Nikhil Kamath’s latest podcast - “ WTF” has got me hooked because the insights in those on how entrepreneurs think is mind-blowing!
“Shoe Dog” and “Smart Business - revealing Alibaba’s Smart Business” have been my favorite go-to books!
Advice for other entrepreneurs who want to get started or are just starting out?
- Don’t be an entrepreneur because it is cool to be one or to impress the world - be an entrepreneur because you want to solve a problem.
- Have the appetite to take risks because what is the absolute worst that can happen?
- No idea is small or meaningless, so don’t be afraid or shy to ask for help.
- Be honest in your pursuit.
- Keep making incremental, but consistent progress.
- Build a solid team, a good team will exponentially help your progress. Look for leaders and all-rounders initially, people who can hustle and get stuff done.
- Surround yourself with the right set of people who believe in you and support you!
- Lastly, I will quote our motto - “Thinking about stuff is cool, but building it gives you freedom”. So just do the damn thing!
Most importantly, enjoy the journey - it’s a once in a lifetime experience of putting everything at stake and figuring it out!
Where can we go to learn more?
If you have any questions or comments, drop a comment below!
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
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