Passive Income Expert: How To Make 10k Per Month In 90 Days!
Timestamps are as accurate as they can be but may be slightly off. We encourage you to listen to the full context.
Podcast Summary
Serial entrepreneur Chris Koerner, known as the "King of Side Hustles," has launched over 80 businesses and generated hundreds of millions in revenue through his experimental approach to entrepreneurship. In this episode, he reveals how anyone can start profitable businesses with just $500, debunks the myth of passive income, and explains why copying successful business models is smarter than trying to innovate from scratch. (02:26)
• The main theme centers around accessible entrepreneurship - how modern tools and AI make it possible to test and launch profitable ventures with minimal capital while working nights and weekendsSpeakers
Chris Koerner
Chris Koerner is a self-made serial entrepreneur and content creator known as the "King of Side Hustles" with over 1 million followers. He has launched more than 80 businesses over his career, generating hundreds of millions in revenue and tens of millions in profit. He hosts "The Koerner Office Podcast" and teaches people how to build and scale businesses through his content and courses.
Key Takeaways
Start by Copying What Already Works
Rather than trying to innovate from day one, Koerner advocates for copying existing successful business models exactly, then adding your own tweaks over time. (13:36) He learned this lesson when someone called wanting to buy his broken iPhone screens for remanufacturing - instead of just selling them, he copied that entire business model and scaled it to $9 million annually. The key insight is that established competitors have already solved the hard problems through trial and error, so copying their approach saves you years of costly mistakes while still allowing you to build a successful business.
Overcome the Fear of Others' Opinions
The biggest roadblock to entrepreneurial success is caring too much about what people think. (08:20) Koerner emphasizes that "the pain of your problem needs to be greater than how much you care about what people think about you." Most people avoid starting businesses because they're worried about judgment from friends, family, or social media connections. However, successful entrepreneurs learn to turn off this mental switch and focus on solving problems rather than managing perceptions.
Test Everything with Minimal Investment
Modern tools make it possible to validate business ideas with tiny investments and minimal time commitment. (54:03) Koerner's framework involves using Facebook Marketplace, Google Sheets, and basic online tools to test demand before investing heavily. For example, when validating a product idea, post different versions on Facebook Marketplace, track metrics like views and messages, then use that data to inform bigger decisions. This approach allows you to fail fast and cheap rather than investing months or years into unproven concepts.
Follow Profit Until You Can Afford Passion
Instead of trying to monetize your passion from day one, focus on profitable opportunities first, then pursue passion projects once you have financial stability. (42:12) Koerner argues that the statistical likelihood of your passion overlapping with profitable opportunities is nearly zero initially. Build commerce skills and generate income through any profitable venture, then use that freedom and capital to explore passion projects. This approach prevents you from failing at entrepreneurship because you're too attached to unprofitable passion projects.
Embrace AI as Your Business Multiplier
Every business should incorporate AI tools, especially when serving small businesses that need help but lack technical expertise. (81:21) With 400 million small businesses globally and 77% admitting AI would be transformational yet only 5% using it meaningfully, there's a massive opportunity gap. Using no-code tools like Replit or Lovable, you can build AI solutions for local businesses and charge $500-$5,000 for implementation plus ongoing maintenance fees. This represents one of the biggest arbitrage opportunities in the current market.
Statistics & Facts
- Chris Koerner has launched over 80 businesses throughout his career, generating low hundreds of millions in revenue and low tens of millions in profit cumulatively. (07:01)
- There are 400 million small businesses globally, with 77% saying AI would be transformational to their business, yet only 5% are using AI in a meaningful way, creating a massive opportunity gap. (81:21)
- 10,000 baby boomers retire every single day, and this trend will continue for the next 5-10 years, creating opportunities to buy businesses or implement digital solutions. (109:49)
