319: Phillip Van Nostrand – How to think like an entrepreneur and build a solid foundation for passive income

Episode #319: Interview with Phillip Van Nostrand (24 minutes)

Discussion Topics

  1. Passive Income
  2. side hustles
  3. streamlining your business
  4. photographer vs. entrepreneur

Phillip Van Nostrand

Wedding Photographer and Entrepreneur

Phillip is a co-owner of a small business online called La Rousse that sells beautiful glass photo boxes. They started their company in 2014 and were the first to market with this item that simply didn’t exist. Their products look like jewelry boxes and they house photo prints in a beautiful way.

La Rousse went from 0 to nearly a quarter million dollars in sales in two years with nearly zero dollars in advertising. They currently pay themselves enough to cover their individual rents and are expanding/refining the business every month. This is 100% a side hustle and they spend just a few hours a week on the business. It’s almost completely automated now!

Summary of Discussion Topics:

  • Photographers often don’t think of themselves as entrepreneurs first and foremost which can sometimes hinder their ability to think more like a business.
  • If you see a need in a particular industry, do your research and see if there is currently a product available that fits that need.
  • If the market is not currently meeting your needs, it could be a great opportunity to fill the need yourself by creating or inventing an entirely new product.
  • AliBaba.com is a great resource for finding vendors around the world who can potentially help you create your ideal product.
  • Understand the audience you are trying to serve so you can gain their attention and fill their needs accordingly.
  • If there is something in your everyday life or business that is annoying or slowing you down, that is where the opportunity is to invent something.
  • The best tools and inventions come from someone trying to scratch their own itch.
  • Build a slow and solid foundation. Determine how much money and time you are willing to invest and start from there.
  • Test your market. Give your product to friends, family and influencers to see how they interact with it.
  • Focus on great customer service and brand loyalty to help curb competitors.

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Links and Resources:

La Rousse Shoppe: Use the code “SPROUT15” for 15 percent off all orders!
La Rousse Instagram

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