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Mentioned in today’s newsletter: Adobe, Meta, Microsoft, Apple, Netflix, Google, Roku, Comcast, Twitter, and Shopify. Plus what to do with leads you can’t help, 24 side hustle ideas that can make you an extra 1k/m, and scaling 101 for paid ads.
Estimated reading time: 3 minutes and 42 seconds
Making the Rounds
- Adobe, Meta, and Microsoft join Metaverse Standards Forum. One conspicuous absence from the group is Apple, who’s rumored to be working on an AR/VR headset that could make them a major player in the metaverse.
- Netflix looking at Google, Roku, and Comcast for their first advertising partnership. With the streamer aiming to launch their ad-supported tier by the end of 2022, multiple companies are vying to win the business.
- Shopify users can now sell straight from their Twitter profiles. The new integration gives merchants two options: display up to 5 products in a carousel, or link to a Twitter Shop where they can display up to 50 products.
Working With Clients
When in Doubt, Refer Out
Got a lead you can’t help?
Don’t just send them away…
Refer them to someone else in your network.
Becoming a “connector” helps you build goodwill and social capital with both parties — the lead and the person you refer them to.
Something that often comes back around to you…
Whether it’s a referral fee, a client being referred to you, or something else altogether.
And if you don’t have a network of other service providers you can refer to, it’s time to start building one.
Aim to have at least one person you can refer to for all the services adjacent to yours.
– If you’re a copywriter, get to know someone who runs paid ads
– If you run paid ads, get to know someone who does graphic design or video editing
– If you’re a graphic designer, get to know someone who builds funnels
A bigger network always means more opportunities.
Working For Yourself
What to Do if You Picked the Wrong Side Hustle
Freelancing is one of the easiest side hustles to get started with.
There’s no overhead and you can spend as little or as much time on it as you want.
But once your freelance biz becomes your main hustle…
You may want to find a new side hustle to work on in your spare time.
We like to think of it this way:
Side hustles are stomping grounds for accelerating your skills.
Having skin in the game totally transforms the way you approach a project.
And if your end goal is to build something of your own…
It’s never too early to get started.
But there are a dizzying number of options when it comes to picking a side hustle.
If you’re on the hunt for one that meets your criteria for both lifestyle and income goals…
Check out this article from Shopify:
From The Paid Ads Gig
If you’re running a paid ads campaign that’s converting…
There are two main ways to scale it:
1 – Vertical scaling
Where you increase the budget on winning ad sets and/or campaigns.
2 – Horizontal scaling
Where you take winning ads and roll them out to new audiences.
Once you’ve hit on something that works, vertical scaling is the easiest to start with.
But depending on your audience, offer, and platform, you’ll eventually bump into a budget ceiling.
That’s when horizontal scaling comes into play.
Pro tip: the best way to achieve horizontal scale is to reposition your offer.
For example: a biz opp/make money online offer might start out being positioned towards young professionals as a way to escape the 9 to 5…
But it could also be positioned towards stay-at-home parents as a way to provide for their family without having to leave the house or hire a babysitter.
If you want to scale an ad account to the moon, you’ll need to scale both vertically and horizontally.
Quote of the Day
“When we are no longer able to change a situation, we are challenged to change ourselves.”
— Victor Frankl