669: 669: The Piggyback Principle: The “Lazy” Way to Build a Successful Side Hustle

The Piggyback Principle is a business idea framework that looks at popular market trends or “ecosystems” and seeks ways to support or supplement those trends. It’s a faster way to start a business because you can capitalize on what’s already hot with an additional or complementary product or service. Basically, your side hustle can ride piggyback on a larger business or trend. You could even say that my now-retired shoe-business was a piggyback business on the e-commerce trend and the comparison shopping trend. It’s a concept I first wrote about 10 years ago, but at that time, I took a pretty narrow view by just talking about marketplace trends. At that time, it was things like the rise of WordPress, or the popularity of the Paleo diet. Now, I’ve broken this principle into three stages: Idea generation Startup creation Marketing/growth And to make this practical, I’m bringing in real-world examples from fellow entrepreneurs who’ve used this approach to build real businesse...