🤑 The Event of Money

Yes, this is City Chad, your legionary commander of life's battles, ready to lead you into the conquest of success. Let's start marching towards victory!

In this week’s edition:

• Markets: ⛷️Down We Go Again

• Article: 🤑 The Event of Money

• News: ⚔️ Men And Empire

• Power Move: 💊 Ozempic

• Chad Of The Week: 🏰 Dominik Tarczyński

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MARKETS: ⛷️DOWN WE GO AGAIN

It was not a pretty week to say the least.

Stocks continued their downward trend — now down more than 3.5% in the last 30 days. Ouchie.

What’s going on? The same narrative as before. The FED warning that rates will stay higher for longer.

This has affected many of the stock darlings of the summer, particularly in the tech sector. It is down 10% from it’s recent peak.

To make things matter worse Nvidia had their offices raided in Europe due to an investigation into uncompetitive practices.

Don’t press the sell button yet, though. 

Market noise and falls are normal. Chasing the market (i.e. investing only when things have already gone up) and selling during volatile times is just a recipe for underperforming in the long term.

Keep strong, Chads and Chadettes. It’s not been a bad year overall.

ARTICLE: 🤑 THE EVENT OF MONEY

TLDR: A side hustle could be the smartest starting point in your journey to financial freedom. But you have no ideas and no cash? Not to worry. Here we go deep into the Event Planning side hustle, which could be an interesting low-risk gig to try. Keep reading to find out more!

• Introduction

• Organizing events

• Getting started

• Why do it?

• What are the challenges?

• Final thoughts

INTRODUCTION

Hello hustlers!

Here at City Chad we like to dish out a lot of (hopefully) inspirational advice on financial freedom.

And we already discussed the benefits of starting a side hustle rather than going all in.

But what is advice worth if it cannot be put into practical use?

Nothing, that’s how much.

So we decided to deep dive into a side hustle that is pretty flexible and could be quite profitable if you get it right: event planning.

The good news is that you don’t have to spend an absurd amount of time or money on it.

Let’s take a look, shall we?

ORGANIZING EVENTS

Looking for a business with almost 0 setup costs?

Then event planning could be for you.

The fun part of an event is the event itself. Duh.

But many people much rather ask someone else to take care of the actual planning.

That’s where you come in.

There is something happening all the time. A birthday party, a wedding, charity fundraising, a business masterclass.

And people are always looking for professionals who can turn their ideas into unforgettable moments.

If you have great organizational skills, a knack for creativity and an eye for detail, then event planning can be your ideal side hustle.

Once you’ve gained some traction, this biz is possible to scale. 

How? You can delegate most of the tasks to other people. At some point, you will end up working on the biz, not in the biz.

But wait, it’s not only other people’s events you can organize.

You can actually take the lead and find a profitable niche to organize events in.

Think of particular industries in your town or online where people would be willing to pay good money to attend. 

You can eventually get sponsors to also dish out some dough your way too.

The best part of it? It’s already been tested.

None other than Sam Parr, former Chad of the Week, did it and eventually became a millionaire. Organizing those business events was arguably what catalyzed the success of his newsletter business (The Hustle).

In the video below you can listen to him go into detail about it in his podcast “My First Million”

GETTING STARTED

How do you get started?

I would take a 2 pronged approach to this one.

You can actually do both at the same time.

First, you could go to your close friends or businesses that have an important date coming up. Could be their birthday, their parents 50th anniversary, the arrival of a new baby.

You simply ask, “hey do you need help organizing this?” I have some great ideas!

I know, it’s a bit cringe. But hey, you gotta start the hustle somehow, right?

No website, no business cards, no Instagram page. Just slide into their DMs. You are here to prove if there is demand, without investing much time or money. Think lean.

You slowly build your portfolio of clients that way. You could even start doing it for free, and slowly build your reputation.

How much do you charge long term? Do your research. It will depend on the event type.

Make sure you know the client’s budget in advance and build enough in there for yourself.

Aim to charge at least a reasonable amount per hour for the time invested.

Pro Tip #1: You can form partnerships with local businesses who want people to use their venues, and also monetize that way.

Make sure you make that clear to your clients, though.

Pro Tip #2: Make sure you take good photos in each event so you can showcase your work.

Pro Tip #3: Every event is an opportunity to get referrals. Don’t be shy to put some of your branding in visible places at the event.

The other approach would be to organize events on Facebook and MeetUp.com for particular niches.

Pick industries that have the potential to be profitable.

Some examples are Tech, Finance and Entrepreneurship niches. Or you could split it by another affinity group. For example, “Women in Business”, or “Young Entrepreneurs”, etc.

Pro Tip #4: Start building a community around something you are passionate about, it will make it a lot easier.

Pro Tip #5: Don’t limit yourself to the people you know or your local area. You can organize online events and reach a much wider audience.

WHY DO IT?

Flexibility: Event planning allows you to work on your own terms. Taking up the work you can confidently handle for your clients or your own events.

Outside working hours: Events are usually held outside the standard 9-5 working hours. This means you can work on your side hustle while still working a regular job.

Low Startup Costs: Unlike many businesses, event planning doesn't require a lot when it comes to upfront investment. You can start small and scale as you gain experience and clients.

Great Networking Opportunity: It’s not only about organizing the event. It’s about who you could meet in them too. Putting yourself out there as a leader in a particular niche can open many unexpected doors. Not only financially but personally.

Creative Outlet: If you have a passion for design, aesthetics, and bringing visions to life, event planning allows you to do just that. What begins as a passion project can easily become a goldmine.

Consistent Demand: Not only is event planning high in demand, but it will never leave the market. People will always need events to be planned, as long as there is no major disruption in the World.

Potential for Add-on Revenue: If you control the event, you can control what gets sold to the attendees. You have access to a captive audience that may just be interested in buying other related stuff from you (or someone else who gives you a cut).

WHAT ARE THE CHALLENGES?

Time Management: Be ready to work when others are having fun. And don’t expect it to be easy. Making a sale is hard. But most things in life that are worth pursuing are hard.

Networking and client relationships: Building trust and a good reputation is essential. In the beginning, no one will know your name or how good you are. It’s a must to be a “people’s person” to build effective relationships. If you are too much of an introvert, then maybe this one is not for you.

FINAL THOUGHTS

As you can see, you don’t have to invest a lot in your side hustle.

Here you have one of many options for a low-investment gig that may help you improve your financial situation and have a side benefit of turbo charging your professional or personal life.

Remember that the point is to go beyond the basic service. Scaling the side hustle is essential to improve it as a source of income, gain more freedom, and make it more reliable.

Taking action, no matter how small, is a step in the right direction, as we talked about in the last edition. Whatever you choose to do, it’s better than doing nothing.

Do you like this idea? Let us know by replying to this email.

Cheers!

NEWS: ⚔️ MEN AND EMPIRE

You may have heard the news about the TikTok trend where women ask the men in their lives, “just how often do you think about the Roman Empire?”

There have been several attempts at explaining this. Some with a tinge of anti-male bias.

I don’t know about you guys, but I think about it daily.

As a matter of fact, when a friend of mine asked me about it I was reading Circus Maximus. The story of the Chaddest Emperor ever, Trajan (This isn’t open to discussion).

Rome was, and still is, a big deal.

Western civilization has been trying to replicate the Roman Empire since it’s fall. The words Tsar and Kaiser come from “Caesar”; the word “Emperor” comes from “Imperator”, the Latin word for “commander.”

The impact it has had in this part of the world can still be felt and it’s impossible to escape from its influence.

So, how can you not think about it? Well, apparently it is mostly a man-only thing.

But why is that so? Well, obviously gender preferences.

The Roman Empire, although socially it doesn’t necessarily adjust to our modern conception of masculinity, fulfills that power fantasy.

And it does so in more than one way, its militaristic expansion, its engineering works, its administrative organization, its political methods, among other things, convey that aura of power and grandeur.

So, it’s no surprise that usual daydreaming for men involves the Roman Empire.

POWER MOVE: 💊 OZEMPIC

Recently, the French giant LVMH has been dethroned by the Danish company Novo Nordisk.

At the time, Novo Nordisk has become Europe’s most valuable company, with its stock being valued around $190, giving it a total worth of $428 billion.

That’s actually more value than the GDP of Denmark. Amazing.

But exactly how did they do it?

Rather than being a jack-of-all-trades, they preferred to focus their efforts on a profitable market.

The weight loss market and related issues such as diabetes.

Turns out that doing one thing really good is the winning strategy.

The star drugs that catapulted them were Ozempic and Wegovy. These are products used to treat obesity and prescribed to individuals with metabolic disorders that hinder weight loss.

Another key point to their success was their exploration of the Chinese market, which is projected to become the largest diabetes market by 2030.

Novo Nordisk took advantage of this situation and applied a strategy that consisted not only in providing quality products, but a long-term approach to patient care and people education that focused on prevention.

They call that strategy “Defeat Diabetes”, and one of the main goals is providing affordable medicines to the global market.

The company understands that having a good reputation is key to success, so they also have committed to a green agenda, to try and reduce CO2 emissions.

Those approaches help develop trust in the company, it becomes apparent that the market rewards this type of attitude.

CHAD OF THE WEEK: 🏰 DOMINIK TARCZYŃSKI

There’s a cozy Italian island in the Mediterranean Sea called Lampedusa with about 6000 inhabitants.

Imagine that in less than a week, it triples its population.

That surreal situation is what actually happened recently. Waves of migrants mainly from Sub-Saharan Africa had arrived.

This may be the main political issue for Europe. This kind of thing happened before in 2015 and many places, for example, Sweden, have faced heavy consequences.

There’s a limit on how many migrants the European Union can handle.

Among all this chaos, we have the figure of Dominik Tarczyński.

A Polish politician, a Member of the European Parliament that doesn’t say things by halves when it comes to putting the interest of his people first.

You can see him stating things clearly in this video.

His policies are simple and effective. Zero tolerance.

And surprisingly, it has worked, in 2021 Poland has had the third largest increase in peacefulness, also counting with one of the lowest levels of homicide in the world. Being Europe’s safest country at the time.

Not only is citizen safety where Poland shines, but the country is on the road to becoming Europe’s next superpower, as we reviewed in a previous edition.

The other countries’ leaders could learn a thing or two. Who would have guessed that a clear and strong leadership that puts its citizens first actually benefits the country, right?

For the good of Poland, and the rest of Europe, we wish you the best of luck, Dominik.

Keep up the Chad work.

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