🧠 Tech Help Service for Elders
Things I’m Reading and Michael Jordan’s Greatest Play
Today’s read time: 3 minutes
What’s up party people! We’re back with another side hustle idea!
Before we dive into today’s idea, let’s connect on Twitter!
1. Business idea of the Week: Tech Help for Local Elders
If you have a grandparent or older person in your life, this side hustle will make a lot of sense.
These days, no matter the age, it seems that almost everyone has a phone in their pocket.
If you were born in the last 30-40 years, you grew up with new technology as a part of your everyday life.
Because of this, learning how to use new technology is second nature.
But for people that didn’t get a cell phone or computer until late into their adulthood, learning new technology can be a daunting task.
And this is an opportunity to both help people and make a profit doing so.
The idea: Create a technology-helping service for elders in your area.
Think of this like a boutique Geek Squad that only helps out older people.
Any questions they have about how to use a phone, computer, TV, or website.
You can help them with things like how to use iPhone apps (iMessage, Facebook, Safari, etc.), setting up their computer, and how to use their TV streaming services.
And I know there’s a need for this… because I’ve done it.
I recently found two older people through Fiverr/Upwork and helped them set up a blog (and got paid well for it).
The features and functions that may seem straightforward to you can be very hard to understand for others.
How to get started:
You can offer this service both remotely online and locally in person.
Post your service on Fiverr and Upwork and charge an hourly rate for online video call consulting.
Use flyers, Craigslist, and Facebook to target all of the local elders in your area.
It’s important to make it crystal clear what services you offer, and how this will help them.
You can think of this as an on-demand service as well. They keep your number on file and give you a call when they’re having trouble with technology.
This is a side hustle that could also turn into a full-time business.
Hire local tech-savvy teenagers, so you don’t have to fulfill the service yourself.
You can also offer additional services like educational classes that teach one technology in a classroom setting.
The opportunities are endless.
And that’s a wrap!
2. Things I’m Reading.
Which CEO’s started their career in Sales - The Follow Up
How 1 Man Made $2B off Vodka - Ben Levy & Shaan Puri
Google Domains shutting down & assets sold to Squarespace - 9 to 5 Google
Michael Jordan’s Greatest Play
Michael Jordan is the goat of basketball.
From the best-selling basketball shoes in the world to the space jam movie, no one will ever do it like Jordan (especially Lebron).
On and off the court, the guy is just a winner.
And his most recent deal is no different.
But there’s an interesting background that no one seems to be talking about.
This week it was announced that Michael Jordan is selling the majority stake he owns in the Charlotte Hornets.
In 2010, Jordan purchased roughly 65% of the Hornets for $180M, which valued the team around $275M.
Jordan has now agreed to sell his stake for $3 billion, just 13 years later.
And you already know Twitter thread boys are going nuts with this one.
*How to turn $180M into $3 Billion 🧵*
But here’s what a lot of people aren’t talking about.
Gabe Plotkin and Rick Schnall are the majority buyers of Jordan’s stake in the Hornets.
Rick Schnall is co-president of private equity firm Clayton, Dubilier & Rice and worth a few 100 million.
But the other buyer, Gabe Plotkin, has an interesting background…
Gabe Plotkin is an investor and the former Chief Investment Officer of Melvin Capital.
Ring a bell?
Melvin Capital was the failed hedge fund at the forefront of the famous GameStop short squeeze. They were the ones shorting the stock, while retail investors squeezed the stock
to the moon to hundreds of dollars.
In other words, the Melvin Capital guys lost billions of dollars and blew up their hedge fund.
So what does this teach us?
You can lose billions of dollars for investors, blow up a fund, and still become a major owner is a professional sports team.
What a world...
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