In this week’s newsletter, the closure of Dylan Lemay's Catch'n Ice Cream serves as a cautionary tale for creators and investors looking to diversify income streams, emphasizing the importance of careful planning and strategic execution. The discussion extends to TikTok's upcoming global music festival on December 10, 2023, with headliners Cardi B, Niall Horan, Charlie Puth, and Anitta, presenting potential opportunities for brand engagement and likening it to a TikTok-integrated Coachella. The newsletter also spotlights Simon Squibb, UK-based CEO of Help Bnk, known for his motivational content and unique approach of purchasing a London staircase for potential entrepreneur use.

Catch'n Ice Cream Melts Away

TikTok sensation Dylan Lemay, who became famous for his POV TikToks of him tossing ice cream while telling work stories during his time working at Cold Stone Creamery, has shut down his NYC ice cream shop, Catch'n Ice Cream, after only a year. 

Catch'n Ice Cream, which raised $1.5 million in venture funding back in 2021 and opened in 2022, is a cautionary tale for both big creators and VC investors. As creators grow, they start to look for ways to further monetize their content and audience. Some will launch merch stores, DTC products, or create brick-and-mortar food locations. 

But creators have to be cautious when making a massive leap like this. Just because someone is willing to support you and tells you they have a grand vision for you doesn't mean it will be successful. There are many factors you, as a creator, have to take into account before launching. Who is the target audience, what's the price point that your audience is willing to pay, and what is that audience member's LTV (LifeTime Value)?

If all of these factors are thought through, you may end up having success like Logan Paul and KSI, Mr.Beast, or the Sidemen have had with their efforts to diversify their income. As a creator, you should always be looking to diversify your income streams. But you have to be methodical with your execution because, without a plan, no amount of money, backing, or fame can prevent any creator business from going under.

So, if I were in the position to build a brand, this is what I would do. Look for someone that you feel has had previous success in the sector you are looking to build in and reach out to them, asking them if they would be interested in becoming an advisor. Use them as a resource to ensure that the business you want to build is successful.

TikTok Drops the Beat: With "In The Mix"

On December 10th, 2023, TikTok, the home music discovery where collaboration and creativity thrive, will host and stream a "first-of-its-kind" global music festival with headliners: Cardi B, Niall Horan, Charlie Puth, and Anitta. The festival, which is taking place at Sloan Park in Mesa, Arizona, will bring TikTok's famous "For You Feed", to life with a range of in-person activations inspired by trends found on TikTok.

Paul Hourican, TikTok's Global Head of Music Partnerships and Programming, had this to say about the event: "Our vision is to create a show that is reimagined for the TikTok era and our music-loving global community." The event production will be handled by famed production company Done+Dusted, whose works include The BRIT Awards, The Grammy Awards, and The Super Bowl Halftime Show, while award-winning director Hamish Hamilton will direct the LIVE video for TikTok's unique vertical format.

What TikTok could do with this music festival in the future could be massive and very interesting for brands. If the festival is a success, I see it having the potential to become similar to Coachella, where brands can host in-person activations and invite-only parties near the festival. But what makes this better than Coachella is that everything could be vertically integrated with TikTok. You could have creators go LIVE at your booth promoting your product, then have them capture content, and the creme de la cream is that you could offer your products to everyone through TikTok Shop and build your presence there. So if I were the Head of Branding and Partnerships or a CMO for a brand, I would make sure to see how things play out on December 10th, how the overall community reacts, and start planning if it makes sense to jump on board the "In the Mix" train, as I see this as a better option than hosting an activation alongside Coachella.

📸 Creator of the Week 📸

Meet Simon Squibb!

Simon Squibb is a UK-based co-founder and CEO of Help Bnk, a platform that provides business help for free while rewarding those who help, and a content creator who now spends his time asking people, "What's your dream?" and helping people make that dream happen!

Simon took this mission a step further in August 2023 when he purchased a staircase in London for £25,000 ($31,547.50 USD), with the hopes of getting permission from the local council to turn it into a pop-up shop, office, or “live-work space” that entrepreneurs can use—potentially for up to a month at a time—free of charge. He also installed a Ring doorbell where aspiring entrepreneurs have 60 seconds to pitch their ideas to him, and he posts those videos to all of his social media platforms.

As someone who is starting their entrepreneurial journey, I use Simon's channel and platforms as a source for motivation and a place to find guidance when I am struggling to find the answers.

Simon, you are a mensch! Keep helping support people to follow their dreams, and I hope one day to visit you at your staircase to pitch any future business idea I may have.

Check out Simon's channel!