I made $275,000 from my side hustle without quitting my full time job... - The Sun

Quick Read

Unlike those who spend their evenings with a glass of wine or running on the treadmill, Lyonel Dougé comes back home to then run a growing social media company.
Called TipSnaps, Lyonel's side hustle is a subscription platform where users can view exclusive content from their favourite social media creators.
” After having an epiphany whilst scrolling on Instagram in 2016, Lyonel realised there was a gap in the market - social media influencers could profit more effectively if their fans paid them directly, particularly in the case of exclusive content.
AFTER an exhausting day full of work and adult responsibilities, most of us tend to wind down and relax - but not Lyonel Dougé.
Within a week, TipSnaps registered its first transaction and six months later the site had 50,000 registered users.

I made $275,000 from my side hustle without quitting my full time job... - The Sun

AFTER an exhausting day full of work and adult responsibilities, most of us tend to wind down and relax - but not Lyonel Dougé. Unlike those who spend their evenings with a glass of wine or running on the treadmill, Lyonel Dougé comes back home to then run a growing social media company. 2 He said he's ''been lucky” to have the support of his employers Credit: TipSnaps Throughout the day, the 37-year-old works as a digital product manager at pharmaceuticals giant Johnson & Johnson, reports CNBC. But once the regular job is over, Lyonel heads back home to work on his own company, which he launched from his West Orange, New Jersey, home in 2017. Called TipSnaps, Lyonel's side hustle is a subscription platform where users can view exclusive content from their favourite social media creators. FABULOUS BINGO: GET A £5 FREE BONUS WITH NO DEPOSIT REQUIRED In less than five years after launching, TipSnaps has registered more than 450,000 users and paid out more than $2.5 million (£1.9 million) in subscription fees to over 60,000 online creators and influencers alike. By keeping 10% of each transaction, TipSnaps has brought in roughly $275,000 (£208,000) in lifetime revenue. While the 37-year-old declined to confirm any specific revenue figures, he said he wanted to grow TipSnaps to millions of users and billions of dollars in annual transactions. One of his main aims was also to champion influencers and creators of colour, many of whom have been overlooked by the competitive industry. Similarly to them, Lyonel, who is black, revealed he also felt like he's being overlooked. “We persevere,” he said. “We’ve gotten to this point.” After having an epiphany whilst scrolling on Instagram in 2016, Lyonel realised there was a gap in the market - social media influencers could profit more effectively if their fans paid them directly, particularly in the case of exclusive content. Lyonel claimed he spent six months coding three hours every night – and more on weekends – before launching the TipSnaps website in March 2017. He would then direct-message influencers with more than 100,000 followers on Instagram, explaining how they could earn more money off their popular content using his services. Within a week, TipSnaps registered its first transaction and six months later the site had 50,000 registered users. Later that year, Lyonel brought on a co-founder — Vic Boddie, a biologist and compliance officer at the U.S. Food and Drug Administration by day — so he wouldn’t have to manage TipSnaps as a one-man operation. Today, Lyonel still operates the company mostly from his home office, or a WeWork space he visits once a week. As of now, the company has four part-time staff: Lyonel, Boddie and two support workers in the Philippines. Asked why he doesn't make TipSnaps his full-time venture, Lyonel said: ''I’d love to quit my job and just focus on this full time. ''But I’ve got a [family] and I’ve got a mortgage and I’ve got to pay bills. ''So I’ve got to go the hard route for now.'' Finding funding also hasn't been an easy task, as he cited the fact that Black founders get a tiny fraction of the billions handed out in the start-up industry. “I guess if you’re a Black founder, and you don’t seem like the typical founder, you [hear]: ‘We want to keep in touch, let us know,’” he said. Despite this, his ultimate goal is to surpass 20 million registered users within the next three years, with more than $1 billion in annual payouts to creators. For similar stories, a teenager has revealed how she started a business with £25 in lockdown - and now it’s worth six figures. Plus, one woman has taken to TikTok to share her story of how she has £12 million in assets. Meanwhile, this woman started a jewellery business at 18 with £400 in lockdown – now she's raking in six figures.
The Original Article can be found on The Sun

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