There are massive opportunities in the real world for entrepreneurs who bring technology to traditional industries and address the pain points of workers and businesses.
Upshift is disrupting the labor market by providing transparency and control to workers, empowering them to choose shifts, control schedules, and earn more based on performance.
Deep dives
The Power of Equity Sharing and Autonomy in Upshift
Upshift is a company that connects on-the-ground staff to hospitality venues on a W-2 basis. With around 70,000 upshifters and a growing internal team, Upshift provides a platform for workers to have more control over their schedules and earn better pay. The company focuses on giving equity options to its employees, creating a sense of ownership and motivation. Upshift's model challenges traditional temp agencies by offering higher fill rates and truly valuing the workers. By providing transparency in the labor market, Upshift aims to revolutionize the gig economy and improve conditions for hourly workers.
Building with a Long-Term Vision and Focusing on the Real World
The co-founder of Upshift emphasizes the importance of delayed gratification and enduring the challenges that come with building a business. He believes that often people focus too much on the 'internet lifestyle' and forget that there are massive opportunities in the real world. By bringing technology to traditional industries and addressing the pain points of workers and businesses, innovative solutions can be created. The co-founder highlights the value of experiencing the real world firsthand, understanding the needs of clients and workers, and using that knowledge to develop effective products and services.
Driving Change in the Labor Market and Empowering Workers
Upshift is disrupting the labor market by providing transparency and control to workers. By offering the ability to choose shifts, control schedules, and earn more based on performance, Upshift empowers workers and improves their experience. The company's focus on a local network effect, where the growth of workers and businesses reinforce each other, has led to rapid expansion. Upshift is not only making hourly work more dignified and lucrative for workers but also enabling businesses to access a reliable and motivated workforce.
Challenges and Future Plans for Upshift
The main challenge for Upshift currently lies in strengthening its product development. The company is working on building a product team and establishing frameworks for efficient and autonomous decision-making. Additionally, Upshift aims to scale its business further and continue revolutionizing the labor market. The co-founder emphasizes the importance of focusing on quality over quantity, committing to a specific idea or opportunity, and having a long-term vision for growth.
Lots of entrepreneurs and listeners to this show are inspired to create ‘The 4-Hour Workweek’ type businesses by founding e-commerce stores and agencies, creating money and value entirely online. Today’s guest, Alex Pantich, has chosen a different path with the business he co-founded. Upshift provides hospitality venues with vetted temporary W-2 hourly workers who are able post online the days and hours they are available for work.
Alex talks to Dan about how this double-sided marketplace works, the equity share scheme Upshift deploys, and why he thinks so many entrepreneurs are missing out by not considering blue-collar, location dependent opportunities:
“When you're getting online and into E-commerce, you're competing with your peers. If you go into the real world, you're competing with baby boomers. Are you telling me the baby boomer who doesn't know email is going to beat you at any sort of innovative business game? They're not. I prefer going into areas where I see tonnes of opportunity and not as much competition”.
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