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What It's About
A boxer steps out of the ring and KOs a CBD oil side hustle.
Business Model
Product
Skills Required
Product Development & Marketing
Complexity
Medium
Profit Potential
High
Words of Wisdom
Mike warns about doing too much research. It is easy to tell yourself that learning more is helpful, but he says that’s only true to a certain extent. If you’re focusing too much on research, it can delay your product launch. And then, you’re not actually running a business. As he said, at some point, it comes time to step into the ring.
Fun Fact
Before Mike filled his extra time with Soul CBD, he acted! He got to be in a Subway commercial and act alongside Mark Wahlberg.
Notes from Chris
Episode 780
Mike Lee is no stranger to pain. Ranked #3 in the world in his weight class, this professional boxer with a 21-0 record literally gets “punched in the face” for a living. He has to deal with pain all of the time—from broken bones to a chronic soreness he’s developed throughout his years of training. A few years ago, Mike’s relationship with pain deepened even further. He was diagnosed with an autoimmune disease that causes inflammation in his spine and other joints. He was soon prescribed painkillers. These made him feel terrible, and he hated the thought of putting something so artificial and potentially harmful into his body. He searched for a natural solution, but couldn’t find any that packed enough of a punch to combat his symptoms. Then, when CBD oil was taken off the U.S Anti-Doping Agency banned substances list in 2018, he rejoiced! He had heard all kinds of people talking about how CBD oil was like a miracle. Mike was even more excited that it was derived from a plant. He tried it and began seeing results right away. Where had this been all his life?! Mike was interested in finding the highest quality CBD oil possible, so he began researching. Through his research, he spent hundreds of hours learning about this product. That got him thinking. All of a sudden, he knew what to do! It was time to get back in the ring—the business ring, that is. He would create a side hustle for selling CBD oil. With it just being taken off the banned substances list, he knew this was the prime time to sell this product. He brought in his sister, Angie, as a partner, and they called it Soul CBD. The attention that the siblings gave to the customers and the market paid off. By their third month, Soul CBD had already hit over six figures in revenue—matching their initial investment. In the future, Mike hopes to use his boxing platform to spark an even larger audience for Soul CBD. This year, he’s training for a World Title fight. Whatever happens, we have confidence that he’ll continue to roll with the punches.MENTIONED IN THIS EPISODE:
- Soul CBD: If your soul could use a little love, head on over to Mike and Angie's website to check out their line of CBD products!
- Fulbright Scholar Earns $2k/Month Selling CBD Oil: A lifelong interest in hemp leads a Kentucky woman to start an online marketplace for CBD oil
- California Moms Get High and Get Well: Two enterprising parents see the legalization of marijuana as an opportunity to help people while also helping themselves
- Insomniac Dreams Up Herbal Hustle: After struggling with sleeplessness for years, an account executive learns to make herbal remedies—then sells them to other tired people, earning up to $3,000/month on the side
Quote of the Day
"Starting your own business or side hustle is a constant roller coaster. Remember to enjoy the highs and learn how to manage the lows."
—Mike Lee #SideHustleSchool
