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Welcome to your November 18 newsletter...
Robert Herjavec shares surprising advice on a low-time commitment business you can start - and it's not what you probably expect. Plus, get to know some side hustles expected to be lucrative this coming holiday season in today's Money Making Moves:
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In the Fast Lane of Business...
> Robert Herjavec, a Shark Tank investor, highlights the misconception that successful businesses can be easy and low-maintenance, stating, "Don't get into business" to emphasize the time and effort required. He explains that even seemingly simple ventures demand substantial commitment, financial investment, and hard work in the early stages. In contrast, Mark Cuban offers a different perspective by emphasizing passive income strategies, such as investing in dividends, mutual funds, and fractional real estate, which require less hands-on effort. Together, their insights reveal that financial success stems from persistence, smart investments, and realistic expectations, with no easy shortcuts to wealth. > The Exploration Company (TEC) has raised $160 million to develop Nyx, its reusable space capsule for transporting astronauts and cargo to space stations. The funding round was led by Balderton Capital and Plural, with contributions from French and German government-backed funds. Nyx aims to offer an alternative to SpaceX's Dragon, providing Europe with its own capsule to meet growing global demand for human and cargo space missions. TEC has secured $800 million in contracts, including with Starlab and Axiom Space, and plans to launch an updated Nyx version next year, with a final model set for 2028. > The restaurant industry faced a challenging 2024, with soaring bankruptcy filings and declining traffic to established locations, leading executives to look forward to 2025 with cautious optimism. Improvements include a rise in fast-food traffic in October and falling interest rates, which are expected to boost consumer confidence and reduce financing costs for new locations. Shake Shack has maintained growth despite economic pressures, and improved restaurant valuations signal potential for upcoming IPOs. However, industry challenges remain, with ongoing value wars among major chains and cautious consumer spending continuing to impact profitability.
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Unique Business Idea For You
The growing popularity of video content has increased the demand for transcription services, including casual marketing videos and specialized fields like legal or medical transcription, which require affordable certifications. Transcriptionists can earn an average annual salary of $52,000. The profession offers opportunities for both general and specialized roles. This growing demand reflects the importance of accurate and timely transcription in various industries.
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Side Hustle You’d Be Crazy Not to Try
Setting up and decorating Christmas trees has become a lucrative seasonal side hustle, with some decorators earning up to $150 in just 10 minutes per job. Demand for convenient holiday services, such as professional decorating, pet sitting, and festive baking, continues to grow. This trend highlights a shift towards outsourcing holiday tasks, creating new opportunities for profit. For those seeking extra income, these creative holiday side hustles offer a great way to supplement earnings during the festive season.
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Personal Finance News
> Instagram is a powerful platform for brands to build their social presence, driving traffic, sales, and engagement. However, the competitive landscape and algorithm can be challenging to navigate, making organic growth difficult. By optimizing your profile, developing a content strategy, engaging with followers, and using effective tags and hashtags, you can boost your audience authentically. Authentic growth leads to better brand awareness, increased revenue, and loyal customers. To find other partners to grow your business, click here. > The tragic death of Hayley Dowell at Istanbul's BHT Clinic following cosmetic surgery raises serious concerns about medical tourism safety. Her husband claimed that the operation was suspiciously brief and that she had not consented to all the procedures performed. The incident is part of a broader pattern, with at least 28 British patients dying in Turkish cosmetic surgeries since 2019, often drawn by significantly lower costs compared to UK prices. Experts warn that inadequate safety protocols and aftercare in Turkish clinics can result in complications, leading to costly corrective treatment back in the UK and a heavy burden on the NHS. > Holtermann's Bakery in Staten Island received overwhelming support after Whoopi Goldberg claimed on The View that they refused to make Charlotte Russe desserts for her due to her political views. The bakery denied the allegations, attributing the issue to a broken boiler and clarifying that they ultimately fulfilled Goldberg's order. The controversy sparked local and national attention, with many customers showing solidarity by placing orders and donating baked goods to the community. Staten Island leaders, including Borough President Vito Fossella, called for Goldberg to apologize for allegedly defaming the long-standing family-run business.
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