Nikonomics - The Economics of Small Business

73 - Why I Still Keep My Job While Making $300k/Yr from My Side Hustle with Alex Lathery

Oct 21, 2024

Alex Lathery, founder of a thriving digital agency generating $300,000 annually, shares his remarkable journey of balancing a full-time job at Procter & Gamble with entrepreneurship. He discusses why he hasn't quit his stable job, highlighting the importance of financial stability. The conversation reveals insights on acquiring clients through Twitter, the challenges of working with family, and the intricacies of rank and rent SEO. Lathery's tips on juggling work, family, and a growing business provide a fresh perspective for aspiring entrepreneurs.

35:24

Episode guests

Alex Lathery

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Episode notes

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Quick takeaways

Alex Lathery's journey demonstrates that maintaining a corporate job while running a successful side hustle allows for financial security and strategic risk-taking.

Utilizing social media platforms like Twitter for client acquisition has proven essential for Alex's agency, highlighting the effectiveness of networking over traditional marketing methods.

Deep dives

Building a Successful Side Hustle

A digital agency can be established as a lucrative side hustle, with Alex Lathery exemplifying this by creating a $300,000 annual income alongside a traditional job. Over four years, he successfully launched his agency, graduating from college and completing internships while mastering web development. Initially lacking sales skills and the confidence to set prices, Lathery learned to adapt by engaging a business coach who guided him through the complexities of running an agency. This shift in approach enabled him to grow rapidly, transforming from initial modest sales to reaching impressive monthly revenues.

Intro

3min

Navigating the Web Development Journey

5min

Embracing Change: The Journey from Engineering to Entrepreneurship

2min

Balancing Act: The Entrepreneurial Journey

17min

Navigating the Rank and Rent Landscape

6min

The Journey of Lead Generation and SEO Exploration

2min

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Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Alex Lathery (https://x.com/AlexLathery), who’s built a $300,000/year digital agency, while still holding down his full-time job at Procter & Gamble! In this episode, we explore Alex's journey from a side hustle to a thriving business, why he decided to keep his 9-5 job, and how he manages to scale his agency while balancing work and family life.

We also discuss the challenges of working with family, the power of Twitter for client acquisition, and Alex’s experiments with rank and rent SEO. If you've ever wondered whether you should quit your job for your side hustle, this episode is a must-listen.

Questions this Episode Answers:

How did Alex build a $300k/year agency while still employed full-time?
Why hasn’t Alex quit his job at Procter & Gamble?
How does rank and rent SEO work, and is it worth it?
What’s it like working with family in a business?
How can Twitter and referrals be powerful tools for growing a digital agency?

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This week we covered:

00:00 Building a Side Hustle: Alex's Journey
10:09 From Engineering to Entrepreneurship: The Transition
19:46 Navigating Challenges: Sales Skills and Client Acquisition
29:50 Scaling the Business: Strategies and Growth
35:37 Balancing Act: Job Security vs. Entrepreneurial Freedom

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