Side Hustle King: The Most Profitable Business You’ve NEVER Heard Of! | Chris Koerner

**Graham Stephan** (0:00)
How did you become known as the side hustle king?

**Chris Koerner** (0:02)
Probably by starting 80 side hustles. I've always said that the overlooked businesses are the ones that are the most profitable. Any side hustle can become a full-time business, anything. There is a million ways to make a million bucks. This is a business that nobody talks about.

**Graham Stephan** (0:17)
So how much are you making in total from all of these businesses?

**Chris Koerner** (0:19)
Millions of dollars a year net, to me, personal income.

**Graham Stephan** (0:22)
Why do you think most people never even start?

**Chris Koerner** (0:25)
What do people think about me? That's the number one thing. They need to care less about that than they care about being broke. There has to be a great enough need. I like to say that everyone needs to hit their own personal rock bottom.

**Jack Selby** (0:36)
What do you think could be a death sentence for an entrepreneur?

**Chris Koerner** (0:40)
The worst situation we can be in is when our job is just good enough. But sometimes when the boats are burned for us, it can be the best thing that ever happens to us.

**Graham Stephan** (0:49)
What qualities make the best business?

**Chris Koerner** (0:52)
It comes down to-

**Jack Selby** (1:00)
Koerner, thank you so much for coming on The Iced Coffee Hour.

**Chris Koerner** (1:02)
Thanks for having me.

**Jack Selby** (1:03)
So you have some pretty crazy statistics with all of the different businesses that you run, but first we have to ask you, is passive income a scam?

**Chris Koerner** (1:12)
No.
There's just a big asterisk by it. You have to work your way up to passive income, which takes a lot longer than most people think.

**Jack Selby** (1:20)
So it takes active work to then create passive income at some point in the future.

**Chris Koerner** (1:24)
Yes, or money, or a lot of money.

**Jack Selby** (1:26)
Why do people think it is a scam?

**Chris Koerner** (1:28)
Because there's a lot of course creators that make a lot of money by putting those two words in the name of their course.

**Jack Selby** (1:33)
So there's a lot of passive income stuff that isn't actually passive income.

**Chris Koerner** (1:38)
Yeah, because the click-through rates and all the metrics show that it converts better if you call it that, but it's not actually that.

**Graham Stephan** (1:43)
So how many businesses have you built?

**Chris Koerner** (1:45)
Over 80

**Jack Selby** (1:46)
How many have failed?

**Chris Koerner** (1:47)
Well, do you define me pivoting away from it as a failure, or like probably less than five? Well, I've like properly failed.

**Graham Stephan** (1:57)
So why spend your time building all of these businesses when you could spend that time building one massive one?

**Chris Koerner** (2:02)
Yeah, because it's really fun.
And no one will be able to prove that I made the wrong choice. I can't A-B test my life and say, Chris, if you just want to focus on that one, who knows? There's too many variables. What I do know is that I don't want to report to a board.
I don't want a bunch of shareholders. I don't want to take a company public. I don't want to be in meetings all day or Zooms all day. I don't want to be away from my family. And to build a billion-dollar business, I feel like I would need to do those things.

**Graham Stephan** (2:29)
And what's the biggest business you currently run? And how much does that make?

**Chris Koerner** (2:33)
Let's see, I have a portfolio of RV parks that I'm a partner in that is worth, in about a month or two, it'll be worth $250 million. I'm one of many partners in that, but that's the biggest asset I have.

**Graham Stephan** (2:47)
So how much are you making in total all of these businesses?

**Chris Koerner** (2:50)
Millions of dollars a year net to me personal income. Between two and six depends on the year.

**Jack Selby** (2:55)
How is there so much variance in your income? That's crazy. I feel like very few people we talk to have a 3X variance.

**Chris Koerner** (3:02)
It just depends on the year. It depends on, do I exit something? Is there a big distribution one year? Did something fail the year before?
Did I have a good year in some, a bad year in others? It's just all across the board. I've had multiple years in a row with $0 of income. So if you would have asked me a few years ago, it would have been a much, much lower number.