Audio

525: The Dreaded March Google Core Update And It’s Implications On Content Creation

The Dreaded March Google Core Update And It's Implications On Content Creation

Welcome to a brand new segment of the show called Profitable Audience where my business partner Toni and I discuss all things related to content creation and building an audience.

In today’s episode, Toni and I discuss the March Google Core update which has huge implications on the future of content creation.

What You’ll Learn

  • All about the March Google Core Update
  • Which sites were hit
  • How Google wants you to write content today

Sponsors

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Transcript

00:00
You’re listening to My Wife Could Her Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Welcome to a new segment to the show called Profitable Audience, where my business partner, Tony and I discuss all things related to content creation and building an audience. In this episode, Tony and I discuss the SEO apocalypse and what’s been going on since the March Google core update, which has huge implications on all content creators.

00:26
But before we begin, want to you know that tickets for the 2024 Seller Summit are now on sale over at Sellersummit.com and they’re almost sold out. In fact, there only 10 tickets left. The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online. And unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based event where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business.

00:56
entrepreneurs who are importing large quantities of physical goods, and not some high-level guys who are overseeing their companies at 50,000 feet. Now, I personally hate large events, so the Seller Summit is always small and intimate. Every year, we cut off ticket sales at around 200 people, so tickets always sell out fast, and we’ve sold out every single year for the past eight years. Now, if you’re an e-commerce entrepreneur making over 250k or $1 million per year, we also offer an exclusive mastermind experience with other top sellers.

01:22
The sell-as-time is going to be held in Fort Lauderdale, Florida from May 14th to May 16th. And as I mentioned before, there are only 10 tickets left. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 50 % off right now. My book will teach you how to achieve financial freedom by starting a business that doesn’t require you to work yourself to death. Plus, you can still grab my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube and podcasting.

01:50
when you grab the book over at mywifecoderjob.com slash book. So go over to mywifecoderjob.com slash book, fill out the form and I’ll send you the bonuses right away. Now onto the show.

02:07
Welcome to the My Wife, Quitter, Job podcast in a brand new section of the show called Profit of Audience, where we break down all things content creation. And the topic of today is gonna be this gigantic Google update that just hit last week on March 5th, I think. And it’s been really bad. For almost everyone in my mastermind group, I got hit as well. And we’re gonna talk about this update and how I’m a little…

02:35
I’m kind of happy about the update, even though that it actually hit me. So we had this conversation last week and you said, oh, I think this next Google update is going to be really bad. And then you whip out your phone and you check out. would assume you were checking your analytics because I wasn’t I couldn’t see what you were doing. And you’re like, I’m fine. I’m fine. I’m fine. And then we immediately change the subject and we’re talking to something else. But you weren’t fine. I was fine.

03:02
for that first day. 12 hours. Or while we were at ECF, I was actually fine. Okay. So I am ill-prepared for this because I don’t even look at Google Analytics because I can’t read GA4. So tell me more. Tell me more about this. All right. So

03:22
Let me just go through the Google official press release and then I’ll talk about like the real stuff that I’ve been chatting with all my colleagues about. Dumb it down for the rest of us, please. No, no, no, no, it’s not. It’s not complicated. mean, basically they fought AI spam. So anyone with an AI generated content website pretty much got deindexed out of the Google search entirely. So that’s a positive. It’s a positive. That’s what I’m saying. That’s not the reason why I got hit. Why I got hit, I’ll talk about in just a little bit. But yes, I thought you were a robot.

03:51
What we’ve all suspected for many years is now we know to be true. No, I think that’s a great thing because you and I have talked about this for what? The past year and how these sites and you were I remember we talked about this one site probably over a year ago that was was it talking about board games or something games and they had like thousands of of posts and they were ranking and it was completely an AI generated site. So to me, that’s a good point. Number one seems good.

04:21
It’s a fantastic, they didn’t actually outline that, but it’s funny, they kept fluctuating over this policy. They were like, oh, AI is expressly prohibited, no AI is allowed as long as you edit it and whatnot. But it seems pretty clear that if your content is AI and of no value except regurgitating stuff, you’re pretty much gonna be penalized with a manual penalty. What’s funny is I didn’t get ahold of Spencer, because remember we talked about last time how he held this AI competition?

04:50
I’m very curious how those sites fared and I suspect that they did not fare very well. Yeah, I’m actually that was the first thought that I had because we had just talked about his challenge a couple weeks ago. Yeah. So I view this first one as a good thing. Right. And you know what’s funny is I just discovered that Amazon has been asking the question, did you use AI to create this listing? Oh, interesting. I don’t have I don’t see that in my interface, so they must just

05:19
be kind of rolling this out to a few people. So if you check yes, I don’t know what that means. But if you check no, but you did in fact use AI, I don’t know what that means either. But both can’t be good. I was gonna say, I feel like either one is probably bad. Yes. Okay, okay. So this is, I’m fascinated, keep going. And then I think YouTube, I read this somewhere, I don’t see it my account yet either, but YouTube’s gonna have a checkbox similar to that as well.

05:47
Okay, so let’s veer off really quick because this is a question. You and I both do something similar. So I’ve been creating YouTube scripts from my own blog posts, but putting them into AI to turn them into script form. I’m assuming that is not what they’re talking about. I don’t think that they’re going to penalize you for that. But if you’re using AI generated content with like an AI voice or I don’t know. I don’t know what it means, to be honest with you. Yeah, it’s not even out of my account yet. So right. I mean, that would be my question because it is my content that I wrote.

06:16
I’m just having AI generate it into a script version as opposed to a read version, which they’re fairly similar. It’s just changing some of the beginning of sentences and stuff like that. Anyway, that would be my. I have no idea, but I think they want you to self incriminate yourself. Yes. Like if you say no and then they use their tools or whatever they do and find that it was in some way or someone complains, then who knows? Maybe that would be a strike against your channel. OK, OK. So what’s what’s number two? What did they do?

06:46
So number two, this is all great stuff by the way. The second thing that they cracked down on is expired domain abuse. And for all of you listening who don’t know what this is, people would buy these expired domains that had pretty good domain authority and backlinks to it. They would buy that domain and then they would build a new blog based on that domain about something completely different and essentially get a head start on their website. Oh, I remember this. This seems like an old school trick. It’s been going on for

07:16
as long as I can remember actually. feel like Jim Wang invented this trick. This seems like a Jim Wang think Jim Wang did this. No, but I feel like in our our FinCon group there were people that did use this tactic. Not our particular group of people, but overall I think that I learned about this at FinCon. By the way, if you want to learn about all the black hat tactics, Black Hat World is like the

07:37
I like to go on there to see what cutting edge people are doing that are gray hat or black hat. I hope you’re on a VPN at a Starbucks in another city. I just logged in as you. You probably are you big jerk. Okay. What’s up next? So that one was good that they cracked down on that. The next thing that they cracked down on was what is called a site reputation abuse. This is where you buy links on like Forbes.

08:08
and you’re just artificially leveraging someone’s larger site to boost your own. And you know all these publications like Forbes, Business Insider, they’re all hurting for cash, right? It’s hard to make money with a pure content site, especially at scale like that. So what they’ve been doing, and I don’t know if you’ve gotten these emails before, but hey, get featured in Forbes. We can guarantee you a Forbes placement. And then you read the fine print and it’s like, may include some sort of fee.

08:38
Okay, I did not know about this. I thought you had to earn those links. I get those every day. Like, hey, we want to feature you on Forbes. You’re like, oh, great. Yeah. And then you read the fine print may have fees associated with it. So you pay like five grand or something and you get on there. So people have been doing this, obviously. I can see people jumping at this. People have been doing this for a very long time. The other thing I want to say is, I don’t know if you remember, I think we recorded this episode with Profitable Audience where I had a buddy of mine.

09:08
And what he did, he would guest post on large publications. And then he would go around and tell people, hey, I will include your link in my guest post if you let me guest post for your site. And if you recall, I was doing this. I was gonna say, wasn’t that person you? Well, no, no, no, that wasn’t my idea. And I did it on a very small scale. But my buddy did this on a huge scale. You we’re talking like a post a day. Yeah.

09:37
like in this, had this whole network and he grew his site to like 1 million visits per month off of this. And I used it too, if you recall, this is all in preparation for my book. So this had to have occurred maybe in 2021 or something like that. And it worked. I actually grew my site tremendously during that period. It was just too much maintenance. I didn’t have like a really good system for doing this.

10:01
But you you add great results, but it wasn’t something that you could maintain. It wasn’t sustainable for me unless I hired a bunch of people and train them up for this. Anyway, long story short, Google started cracking down on this as part of this update. And I actually just went and checked my friend’s site. He went from one million visits per month all the way. Now, I think he’s down to like eleven thousand now. What? Yes. Holy cow.

10:31
So he got hit because all of his backlinks were built this way.

10:36
Okay, this one seems a little, I don’t know. I don’t know necessarily if it’s a bad thing if you’re actually creating educational and good content for people. I mean, I get it’s gaming the system, but to me it’s like if you’re writing legitimate guest posts and they’re quality posts, who cares if you’re kind of weaving the tapestry? I don’t know, you know what I mean? I guess, but it is gaming the system, right? Like it’s, if you look at these articles, it’s pretty clear.

11:04
Like you just take one word and you’re linking to another related post. Oh, I see. I haven’t read a lot of those posts. So I the posts are good. They’re well written. It’s just they’re linking to, you know, random sites to spend a lot of time on this. I did. Yeah, because, yeah, everything I did, I did for this book, actually, like in preparation, like I literally started preparing to launch the book probably two years before the book got released. Yeah. OK, that’s an interesting one.

11:34
Yeah. then so back on the AI one also, it’s unclear how they’re detecting this, but I think they’re mainly cracking down on blog post velocity. Like if all of sudden you have like a thousand posts, it up. But I’m sure they have ways to detect whether it’s AI generated. Okay, but if you’re using a Google AI tool to create AI, don’t they know that your email address is locked?

12:04
Those people aren’t using the Google AI tool though. Well, correct. But I feel like Google could probably fairly easily tell who’s doing that. I don’t know. You would think if you’re just straight copying what the gray area is, if you take something AI generated and you modify it, whether they can tell or whether that’s even OK. Anyway, this brings up to the final one. This is the reason why I got hit. Oh, yes. We haven’t even gotten to that We haven’t gotten that.

12:34
basically going down the Google official press release, which actually means nothing in most cases because what they release and what actually happens isn’t really. Right. Okay. So number one, why me and all my buddies got hit is because now just, just do a search on Google right now. The top spot for one of my main queries that I used to rank for is now a LinkedIn post.

13:00
followed by Quora, followed by Reddit. And Google has greatly promoted all of these sites and just knocked everyone else down in general. Now here’s what’s fascinating about this. We have a mutual friend who’s not in my mastermind group, but what he started doing was copying his blog posts directly into LinkedIn. And he has the top spot for a keyword. And then the blog post that he has on his blog,

13:29
He’s redirecting that to LinkedIn now. And his LinkedIn post has all the same affiliate links and that sort of thing. And that’s how he’s managed to rank a bunch of his pages. Well, that works if your content works for LinkedIn, but if you have a chicken leg recipe, that’s not, I I’m not posting that on LinkedIn. Well, this is just an example of what people are doing, right? And it was like a financial services review that he had dropped in the rankings.

13:59
And so he just copied it to LinkedIn and all of a sudden he got the number one spot again. Identical content, right? Pretty dumb. But he’s redirecting, so this guy didn’t get hit, he’s now ranking, right? Well no, he copied his stuff to LinkedIn. His blog lost ranking. Yes. So he decided to do an experiment and just copy that blog post over to LinkedIn and then that LinkedIn post that he posted got the number one spot.

14:25
So when people type in his blog post URL, they are redirected to LinkedIn. They are now, which is, I don’t recommend this because you’re essentially telling Google that LinkedIn is the authoritative post now. However, he doesn’t care because that LinkedIn post generates a lot of money because it has his affiliate links in it. And you’re allowed to do that on LinkedIn. I did not know that. I’m not really a LinkedIn expert, but I went to check it out and it’s got his links in there. He doesn’t care about it. Okay, just.

14:55
Keep in mind also that these people that we’re talking about make all their money through affiliate marketing. They don’t necessarily care about email subs. Although you could have a link in there that takes you to a landing page where you have an email signup form as well. I found that fascinating. And if you look at some of my queries, I think the Google search results are worse now because they now link to this Reddit thread that is just garbage. Sometimes it’s linked to… So there’s one of my posts.

15:25
where I’m doing a review of like a drop shipping site. And the number one spot links to a Reddit thread dated 2021, which is completely not accurate. I have noticed that. In fact, this just happened to me the other day. What was I looking for? think it was, yeah, it was something about a credit card. I needed to know how to do something with a certain credit card. And I Googled, I couldn’t find it on the credit card website.

15:52
So was like, rather than call and sit on hold, let me just do a quick Google search. I’m sure that I’m just not searching the right thing on the credit card site or probably nerd wallet has the answer, right? that’s, nerd wallet always has the answer. And when I Googled it, the first thing that came up, you’re right, was a Reddit post, which I clicked on, was not even close to what I was, I mean, it had the words in there, but it wasn’t what I needed to know. And then once again, like a bunch of Reddit people don’t know how to solve my problem when it came to this.

16:21
So yeah, think that was actually yesterday that that happened. And I was like, wow, this really stinks. Because normally, it was about an American Express card. Normally, the first response would have been an American Express help page, right? That would have usually shown up number one in Google, and it did not. It was a bunch of Reddit threads. And then, I don’t remember if it was Quora or something else, but then, yeah, it took me, I ended up going back to the American Express site and just digging deeper to try to find the answer.

16:49
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17:16
and you can sign up over at profitableaudience.com slash free. Once again, that’s profitableaudience.com slash free. Now back to the show.

17:27
Yeah, my buddy Glenn Alsop, who runs detail.com, actually did a case study where it was something crazy. Let me see if I can find the post. But it was some really large percentage of Reddit posts gaining in the search results and pushing everyone else down. So I’m actually looking at, I just typed in, which is better Shopify or BigCommerce? So the number one response here is Forbes.

17:57
Shopify versus BigCommerce 2024 comparison. The next response is Shopify. Well, I wonder what they’re gonna say. The third one was Reddit. And it’s not even, it’s like any advices for a Shopify, BigCommerce new seller. yeah. sorry, Quora, Reddit, LinkedIn, basically any of the established social media sites.

18:27
And people are gaming these big time now. Oh, 100%. It’s a little harder to game Reddit because if you post a link, like sometimes you get flamed, but people are doing it, especially if they own their own subreddits. Yeah. And that’s how they’re ranking. Interesting. Yeah. I think this has got to change because it’s garbage. It’s worse now, in my opinion.

18:49
Well, it’s like, do you remember when forums were really big, like back in the like 2006, seven, eight, it was before the internet was, I felt like as big as it was, so a lot of the information being shared was on like specific forums. And if you ever searched for anything, you would get the forum response, but the forums are so biased against, like you could be on a forum that was completely anti-homeschool.

19:16
Right, so every single post in there was about homeschooling, but it was about why you shouldn’t homeschool, right? But then there was an entire forum dedicated to like pro homeschooling. So you never got any agnostic advice about anything because if you landed on a forum, it was clearly biased in one direction or another. And I feel like that’s what’s gonna happen again, right? Is that, you know, the people, the threads on Reddit, I mean, there’s sometimes there’s good stuff on Reddit. don’t think it’s, but to me, Reddit’s more of like entertainment.

19:44
like reading through and just surveying the people. It’s not an information, to me it’s not like an informational site. Maybe other people are using it that way, but I’ve never thought of it that way. And certainly not concise. By the way, I found my friend’s blog post. So what he did is he reviewed 10,000 product review terms, just kind of random. This is what he does for a living. He of does these cool case studies. And this is what he found.

20:10
The reddit.com domain was present in 7,500 search results and featured 14,000 times. This means that if the SERP feature was present, Reddit not only had a 97.5 % chance of showing up, but on average had 1.9 of the three possible listings at the top. And then he goes on to talk, maybe I’ll link this article because it’s fascinating. But people are gaming it by voting up

20:39
like their earbuds or their review in the results. And so it’s an artificial, the conclusion of this article was the Google product review search results are now the worst that he’s ever seen. Which I feel like we said this several months ago where it was gonna get worse before it gets better because of, you know, everything, how everything’s changing. So, I mean, I hope eventually it will get back to giving you useful information, but

21:09
You know, all the statistics and articles I’ve read, you know, people are searching on Pinterest for information. The younger generation is searching on TikTok. They’re not Googling anything. They’re TikToking it, like to find the information. Which is more real because you see a video, right? Right. And then last week at ECF, in one of the groups, a lot of people were saying they just ask AI, right? They just go into chat GPT and ask the question.

21:39
they don’t even Google it anymore. Yeah, I started using Proplexity a little more. Are you using this? Have you tried it? No, but that’s what they were talking about in my little group in ECF. Yeah. All right, here’s some more stats. This one’s interesting. So Glenn manually went through the top Reddit threads that appeared in 1,005 individual search results. And of the resulting 122 URLs, 63 have a top comment with a self-promotional affiliate link.

22:09
often written months after the original thread was created. And that’s how people are gaming it. right, so should we switch gears and talk about the reasons why I like this update, even though it hit me? Yes, let’s talk about how bad you got hit first. Give us I got hit about 25%. Okay, and what about your other affiliate marketer friends? Some of them got hit worse than that. I was just gonna say.

22:37
It’s interesting because I know the group of people you’re talking about and it feels like they’re just getting, like every couple years they just get decimated and then they work their way back up and then they get decimated. It just feels, it’s almost like social media now, right? Like I don’t wanna be on the hamster wheel. I don’t wanna be on the hamster wheel of Google updates, right? It’s feeling very similar of like, well now I’m gonna follow all the new rules and then only to get decimated two and a half years later for whatever reason.

23:06
I think the difference is that this time I think search, the search days are numbered. Okay. Interesting. Yeah. That’s my general opinion. Cause AI is going to replace search eventually. Right? Why type in a query and get a bunch of junk or links? We can just get the answer. But anyways, okay, let’s switch gears. Cause, okay. So remember a long time ago, we did an episode where I told you that I hate writing now because Google has forced you to write in a certain way.

23:36
that answers the questions and nothing else. Well, they just did a 180 on that. Right. So as part of this last update, they don’t want content that is the same as everyone else’s. Right. Because because you’ve noticed, right, when you search for something, you’ll see two pages with the results that essentially regurgitate the exact same stuff. it’s just like one upping the next person. Right. Yeah. Who has more content? Well, that’s different now, because Google actually wants real

24:06
content that’s original, which ironically is the way that I used to write. Before I discovered that writing original content reflecting my experiences was actually hurting me in the search results, right? Because it’s getting interpreted as extra stuff and it was hard to categorize when Google just wants the answer. So if you look at the people who benefited from this March update, and it’s still really early by the way.

24:35
No one really has any definitive conclusions, but there are a couple of outlier sites that were literally just photos and People just talking about hey, I bought it is almost like the old days of blogging We just kind of talked about your day Yeah, you talked about your day and you mentioned this thing and how you loved it and whatnot a Couple of those type of sites got promoted in the search results

25:00
And again, it’s still early and there’s not that much data, but the old days are back. I’m happy. When I used to, because I hated my blog. Yeah. And I remember when I launched my book, I was not proud of it at all. And I knew people were going to come to my site and I was thinking to myself, what if they go to my blog and they see this kind of robotic, you know, encyclopedia of stuff where they just answer the question and nothing else.

25:27
They’ll be like, that’s the Steve Choo we’ve always known. What’s ironic about all of this is I spent probably a year and a half optimizing my money posts by removing all of my own opinions, by removing all of the stories I had involved with the tools that I use to keep it short and succinct. Thank goodness WordPress has a revision button.

25:56
It’s so, it’s so different now. So I can’t even, you know, but basically Google’s looking for original content. The good old days of, uh, Brian Dean skyscraper technique, where you just taking what someone else has written, kind of rewriting it and, trust trying to outdo the next result. As of now, I think those days are over until Google decides to change your mind. Yeah, but it makes sense. Right.

26:23
I mean, you don’t want to read the same regurgitated stuff in the search results. I hated myself. This started in 2016. I want to say this whole regurgitated stuff because that’s what Google was. They wanted that. They just want the answer and nothing else.

26:39
Well, I’m glad I’m working on YouTube now. Actually, that was my next point. So even though my wife quick got hit, I actually looked at my analytics results and my YouTube channel actually dwarfs the blog now. Yeah. In terms of email subs. You hit 300,000 subs. I did. Yeah. Yay. And I actually figured out a system that I’ve used on my last two videos that I’m pretty confident will

27:08
I’m going to actually present this to our class today in fact. Okay. Awesome. that I just kind of discovered recently where I was screwing up on some of my other videos and I’m going all in. I was already all on YouTube, but even more so now I’m actually going to go back to my blog and add in like my own personal experiences again. And it’ll be fun for me this time because that’s how I used to write. Yeah. And so even though I personally got hit, I’m actually

27:37
kind of glad that it’s going this way in a way. I mean, I’d be more glad if my traffic was still here just to be clear, but it will make writing a little bit more fun again. Yeah. Unlike before. Yeah. I never went over to that side. I was like, I’m not doing it. It’s not my content doesn’t lend itself to that anyway. but it can write like if you’re if you have a recipe, you’re just not going to give out the recipe, right? You’re going to talk about.

28:06
Oh yeah, but I never went to the whole just give them just the facts, ma’am. I was like, this is not what I do. So yeah, was I just never got on that train, which I’m glad that I didn’t. Well, I mean, there’s a lot of money made during that time. You’re right. We’re talking almost eight years of gravy. Yeah. But I’m also not an affiliate heavy site.

28:32
Yeah. So and people buy like I was actually looking at this the other day. The the affiliates that people are like my heavy moneymakers are all because I’m like I joined this program, this and that. Like it’s all because I’m sharing my experience of why people should, you know, like one of my top affiliates for a long time was Adore Your Wardrobe from Kelly Snyder. Right. And the reason why that did so well is I’m literally making videos in my closet.

29:00
right, and telling people why they need to dress for their body type and clean out their closet. I mean, that’s why that converted. wasn’t because I was just giving the fact, I don’t even know the facts of the program anymore. I couldn’t tell you how long of a program it is or anything. What I could tell you was it worked and my own experience. Which I do think is pretty compelling for people.

29:25
in my niche, you know, I think it’s definitely different in your niche. So, I mean, we’re just coming from two totally different places. That’s correct. Yeah. I am curious, though. So what happened? You said used to be. you? I just haven’t promoted it in a long time. Like, because she only does like twice a year launches and things like that. So it’s like if I if she launches in a period of time where it’s like, I’m just not something I have time to promote, then.

29:52
I don’t promote it, but yeah, when I do promote it, it always does well. Same thing with the passionate penny pincher menu planning boxes. Those always do really well, but I talk about my whole sites about menu planning and how it’s, I have personal stories and I have actually shared reader stories of how it saved people thousands and thousands of dollars in their grocery bills. So because I have all those stories on there, I think that’s why that stuff converts so much better than.

30:20
me just talking about a product on Amazon or But I noticed you used the word video also. Yes. And not text, right? Yeah, but I’ve always done both for those things. Obviously now working more on the video. It was interesting. I was looking at my YouTube channel, because I’ve had one for 12 years, a long time. And some of my older videos that have thousands and thousands of views are so awful.

30:50
And it just makes me, like if you wanna think about how far the iPhone has come, I filmed these videos with like an iPhone 5, I think was the phone of the day back then. you know, even if you are just filming with an iPhone 12, the picture quality is absolutely phenomenal.

31:11
Anyway, was just kind of, was kind of laughing at it I was like, maybe I’ll like add a thumbnail and like, you know, kind of like re up some of these old videos. And then I watched him and I was like, no, it looks like a grainy. It looks like I’m filming through a dirty window. I was like, I will not be, I’ll not be re upping these videos for sure. So let’s talk about Bumblebee next. So the Bumblebee blog got hit. Really? Yeah. Which I care a little bit less, but my core product results.

31:42
were okay, but what I noticed, because I immediately just looked at all my rankings for my money pages, right? And I noticed a bunch of sites got promoted that are the crappiest linen sites that I’ve ever seen. Really? Yeah, to the front page. And in fact, there’s this one URL from Big Cartel where they didn’t even have their own domain. It was literally store.bigcartel.com, which means it didn’t even pay for.

32:09
like a real membership, they’re just using the free tier. And the site was like the ugliest thing that I’ve ever seen. It looked like just a standard template, just threw up some products on there and they started ranking. And there’s no way that that site should rank. Why? What’s the logic behind that? I have no idea. I have absolutely no idea why that site was ranking. So Google, and again, this rollout is supposed to take a month, so it’s not done yet.

32:39
But so far it’s been terrible from a usability standpoint in my eyes. Yeah. I feel like that’s been the case for a while now. But it’s worse. I don’t think it could get worse. yeah. Well, I think we’ve actually we actually said that several months ago. Like, well, this is this is pretty crappy. And then all of a sudden it’s now even worse than it was before. So I talked to Jeff Oxford and he primarily does e-commerce SEO.

33:06
and he basically said that most of his sites did not get hit in his portfolio. Maybe 10 to 15 % of the sites did. It seems like at least e-commerce is fairly stable. It’s just in the content side where the biggest changes are happening. He said that, but yet Bumblebee got The blog got hit. Yes. That’s the content side of Bumblebee, Oh, I what you’re saying. The listings, the category pages, things like that. Correct.

33:35
not the products in the categories. They’ve shifted though, but yeah, pretty flat on the product side, the blog. I think everyone, be honest, I have not talked to a single person personally that I know who’s benefited from this. And I think it’s because Reddit, Quora, LinkedIn, and all those sites have gotten promoted, which has pushed everyone else down. Right, just in general, if those are going up, everyone else by nature has to get pushed down.

34:03
Why even have a blog anymore? Like why not just post all of your blog posts on LinkedIn was the question that we were just kind of bouncing around. And the reason is you don’t wanna put your stuff on a property that you don’t own, right, in case anything changes. But that’s essentially what Google’s telling us right now. Meh, I don’t like it. Yeah, no, mean, you have to have a blog, you have to have a landing page, you have to have a place for people to opt in for your email. Yeah.

34:33
And I’m sure this is gonna get reversed at some point, because this is not, yeah. Sorry, go on, I interrupted you. No, just, first of all, the fact that Reddit shows up at the top is laughable to me. just, I just don’t, I know there’s people that, like my brother loves Reddit, and I know people love commenting, reading, I mean, it’s very, it’s very, very popular. But to me, Reddit would never be a place I would go for information.

35:03
It’s entertainment to me or just mindless, I don’t know. Because it’s like, here’s the thing, right? What did Google tell us for so long? Like you need to show that you’re an authority in the space, right? If you’ve been featured on magazines or TV shows or publications, you need to put that in there so we know you’re an authority. Any idiot can go on Reddit and post something. You have no idea what their background is. You have no idea what their knowledge base is.

35:33
And then now they’re going to rank. Now they’re going to rank, right, because they’re in a thread. And so Billy Bob is out there, you know, given medical advice on Reddit. And I don’t know, I just think it’s absurd to me. Like I. Yeah, it’s absurd. I’m going to go on strike. I’m going to go on strike from Google. So Google actually tweeted about this. And the head of Google, like the front facing guy. Yeah, he was quoted as saying Reddit has a lot of practice dealing with spam.

36:02
and experienced users there are not shy. And so their logic is that these communities have been around for a very long time and they must have pretty good spam policies. Therefore, Reddit has higher searches. They were basically defending what they’d done. So, yes, they probably have a great spam filter. mean, because I know I’ve heard people saying that they got their stuff removed from Reddit and things like that. But it doesn’t mean that the people talking on there know anything.

36:31
Those are two completely different buckets. 100 % agree with you. Yeah.

36:38
I don’t know. My prediction is that Google’s search is, it’s, it’s definitely going down. Yeah. And it’s the days are numbered. I’d say I give it like two years tops. Interesting. And the reason why I say that was, you’re, you’re about my age, right? Yeah. A little, little, little, little older. Back in the day when I was in college, Yahoo was the main search engine in town. Yep. But then within one year it was gone. Google had destroyed it in one year. Yeah.

37:08
All it takes is something that’s superior to quickly, like once word of mouth spreads. example, if perplexity takes off, for everyone listening to this, perplexity is basically a site that gives you an AI answer, but it also does searches and then it gives you, it sites all the, it basically has backup and links for where it got the data from. So you can feel fairly confident about the result. So it’s essentially like a combination of AI and Google search.

37:38
is what it is. And it works pretty well. I’ve used it on occasion. Most of the time now I use ChatGPT actually to ask a question and then I just double check and Google if I think it’s sketchy. Can we veer off for two minutes and talk about ChatGPT? Sure. So I think on it, I don’t know when these will publish, but we talked about the AI talk at ECF Live and how I thought it was a great talk and I’ve never done the paid ChatGPT.

38:07
I’ve always just used the free version. And because of that talk, I was like, okay, it’s 20 bucks a month. gonna splurge and get the paid version. So I was looking for some email content and I had ChatGPT 3.5, which is the free version, I believe, versus the paid version, which I think is for something, maybe just for worlds apart. And on stuff that’s not factual, right? It was like ideas for birthday party or something like that.

38:37
It wasn’t something where it’s like the information needed to be cross checked. It was more like creative ideas for things and it was nuts how much better it is. So if you if you’re cheap, I believe you’re so I know if you’re like me, I know, I know. Stop, stop. But there’s probably a lot of people like me that are like, oh, I don’t know, because I don’t use it as much as a lot of other people do. And so I wasn’t I know, I know there are so many things I need to present to my class.

39:06
Yeah, for online store that I’m doing right now with AI and just advertising and everything that I’m thinking about like postponing all the zoom calls for a while while I all this content out and then likewise and profitable audience as well. There’s a lot a lot of stuff going on. Yeah, that I that I’m just itching to present. Anyways, yeah, if you’re not using AI, you’re going to fall behind. Yeah, Google’s search. I can’t imagine.

39:37
At some point they’re have to make decision whether they want to decimate their revenue or not because what they’re doing right now and the results Is just not working. and it’s actually turning off a lot of people. You know, what’s so funny is I belong to this one Facebook group that just kind of covers SEO Everyone’s moving to Pinterest Okay, so yes, I didn’t want to bring this up on this episode because it’s so far different I’m completely re-upping my Pinterest strategy

40:04
So I’ve just been like maintaining because it’s still a decent source of traffic for me. Google’s always, not Google’s always my number one, but Google and Pinterest usually sit like one and two depending on the month. But I start with all the Google stuff and with everything else that’s going on, I was like, you know what, I need to just, it doesn’t take a lot of time to do it. I think we have a lesson in the course like 45 minutes a week or something like that. It’s pretty short.

40:30
amount of time to work on, but yeah, I’m completely re-upping my strategy with Pinterest. For that reason. has the same problems though, right? I don’t know, they’re not showing Reddit threads as in the search results. I mean with spam, I mean with spam. Yes, I feel like they’ve gotten a little better. And I also feel like the younger generation, because now I’m old and I can say that, is actually using Pinterest. So like my kids are all, I was actually talking to your sister-in-law about this a while back.

41:00
It’s their fastest growing demographic that 16 to 24 age bracket. My kids use it all the time. They all have the app on their phone. mean, when Pinterest came out, I would have never thought it would be an app for teens. I 100 % agree. This is so random how that happened. Anyway, so I’m recommitting my efforts to Pinterest 100 % because I feel like, yeah, that’s…

41:27
I’m not playing the Google game Pinterest for all of its changes and stuff that’s gone on. Like the core of Pinterest has stayed the same. It’s all about the images. It’s a visual search engine. And I even bought a course this week just to like see if there’s anything that I’m not doing that, you know, is out there. So yeah, I’m re-upping it totally. Yeah. Meanwhile, I’m still going to, I don’t want to say play the Google game, but I’m going to go in and add my own opinions on, my post again.

41:56
That’s actually easy writing for me. I’m gonna take what I have and then have a section of like, hey, this is my personal opinion on this. If you want all the facts, continue reading below. I’ll say something like that and just give my straight up opinion on all these tools that I’ve been using for so many years and see what happens. It might make blogging fun again. Right, I should get a hat.

42:26
Hope you enjoyed this episode. Now these changes to Google are just the tip of the iceberg and there’s going to be many more changes in just the next three weeks, so stay tuned. More information about this episode, go to mywifequitterjob.com slash episode 525. And once again, tickets to Seller Summit 2024 are now on sale over at sellersummit.com. And if you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go over to sellersummit.com.

42:54
And if you are interested in starting your own eCommerce store, head on over to mywipequitterjob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

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524: Insider Tips On How To Sell Profitably On Etsy With Scott Voelker

524: Insider Tips On How To Sell Profitably On Etsy With Scott Voelker

Today, I’m thrilled to have my long time friend Scottie V back on the show.  Scott Voelker is known in many circles as the grandfather of Amazon as he was one of the first and most popular podcasts in the space.

But in this episode, we’re going to talk about Etsy and how he and his wife have grown a thriving Etsy business selling print on demand products.  Enjoy!

What You’ll Learn

  • Tips on how to sell on Etsy
  • How Scott in his wife started their business on Etsy
  • How to grow your sales and how to advertise on the platform

Sponsors

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Transcript

00:00
You’re listening to the My Wife Quitter Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. And today I have my good friend Scott Volcker back on the show. And if you don’t remember Scott, he was one of the OG podcasters covering Amazon over at The Amazing Seller. But since then, he’s pivoted and now he’s kicking butt on Etsy and teaching others how to do so over at Brand Creators. Now in this episode, Scott is gonna teach us how to sell on Etsy.

00:28
But before we begin, want to let you know that tickets for the 2024 Seller Summit are now on sale over at Sellersummit.com. And right now, actually, they’re almost sold out. We only have seven mastermind passes left. The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online. And unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based event where you will leave with practical and actionable strategies specifically for an e-commerce business.

00:56
Every speaker I invite is deep in the trenches of their business, entrepreneurs who are importing large quantities of physical goods, and not some high-level guys who are overseeing their companies at 50,000 feet. Now, I personally hate large events, so the Seller Summit is always small and intimate. Every year, we cut off ticket sales at around 200 people, so tickets sell out fast, and we’ve sold out every single year for the past eight years. Now, if you’re an e-commerce entrepreneur making over $250k or $1 million per year,

01:23
We also offer an exclusive mastermind experience with other top sellers. The Seller Summit is going to be held in Fort Lauderdale, Florida from May 14th to May 16th, and right now this is the cheapest the tickets will ever be. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 50 % off. My book will teach you how to achieve financial freedom by starting a business that does not require you to work yourself to death. Plus, you can still grab my free bonus workshop on how to sell print-on-demand

01:52
and how to make passive income with blogging, YouTube, and podcasting when you grab the book over at mywifequitterjob.com slash book. So go over to mywifequitterjob.com slash book, fill out the form, and I’ll send you the bonuses right away. Now onto the show.

02:12
Welcome to the My Wife Could Her Job podcast. Today I’m thrilled to have my long friend and colleague Scotty V back on the show. And personally, I like to call Scott the grandfather of selling on Amazon, as he was one of the first and most popular podcasts in the space. And today he runs Brand Creators, where he teaches others how to start their own brand and future proof their business. But the reason why I decided to have him on the show today,

02:40
is because he’s been doing a lot of work and a lot of content on YouTube about Etsy as he and his wife run a thriving Etsy business as well. And my daughter has been dabbling with Etsy and I’m pretty sure she’s going to be thrilled and she’s going to actually listen to this episode. And with that, welcome to show, Scott, how are doing? I am doing fantastic. And I just, I think it’s great that you do that intro right on the fly like that. That’s pretty impressive there.

03:08
So good job for that. wouldn’t expect anything less, but that was pretty good. Good little intro. So my daughter’s selling an Etsy and she’s actually watched a couple of your videos. Okay. And I think she’s a fan. think she’s a really, yeah. Okay. Yeah. Okay. Yeah. I think if, if she takes with what you have taught with e-commerce and what I’m sharing with the Etsy side, she could probably do pretty good. Cause the crazy thing is though, with this whole Etsy thing is it’s

03:36
To me, it is untapped as far as like with what we bring to the game. It’s like a lot of Etsy sellers right now are not using the marketing stuff that you and I have been using for years. Whether it’s even the Amazon space, there was a lot of people when I was in that space teaching it, they weren’t doing the marketing stuff, right? They’re just doing whatever.

04:03
whatever the platform would allow them to do a lot of the things. And there’s a lot of good things that that does, but they never really did anything externally. And that’s really what I’ve been trying to teach and preach. And it’s what we’ve been doing with my wife’s little Etsy shop. it’s been really, really working. And I’m excited because I get to teach with what we’re doing and it feels good because it’s what we’re doing, but it’s also, I think, an underserved market.

04:30
And I just, I like being in the forefront of that right now because a lot of people are benefiting from it, from what I can tell. I’m just curious, why did your wife decide to sell an Etsy? Cause you know a lot about Amazon and some of the other marketplaces. Why did she choose Etsy? Okay. This is a great question, Steven. I don’t think you and I’ve ever had this conversation, but okay. So back in the day when I was selling on Amazon, you know, a neighbor of mine, we had a brand that we started together, right? And

04:58
Uh, you know, we started, it was in the cooking niche. Okay. And so we were selling accessories for some of the top brands and just things like that. Right. So, and we built a blog on the backend of that, that was getting a significant amount of traffic. Um, and we just launched products, built an email list, like did all that stuff. And to be honest with you, I got tired. Uh, and so did she, and that’s when she messaged me she’s like, I think I want to sell. And I’m like, okay, let’s do it. Like I’m, I’m fine with it. Right.

05:28
And again, that was a way for me, like it was a way to make money. We made good money. We sold the business. We made a good chunk of change, but, uh, it also allowed me to teach the thing that I really love doing. Like I love talking about marketing. I love talking about email. I love talking about all that stuff. It’s like, how can I be in the trenches and do it, but really also be able to teach it. And so when we got all done, I was like, all right.

05:54
kind of I’m done with Amazon for right now. I’m not saying I’m retiring from it, but I’m kind of done and her and my wife are friends and she’s now Debbie. That’s her name. She, she basically said, I’m going to just go and start playing on Etsy. And so she started doing Etsy and then she starts sending me screenshots. Look at, made 20,000. Oh, look at this. I’m going to do a hundred thousand this year. Oh my gosh. I’m going to do 250,000 this year. Debbie, what are you doing?

06:17
Right? Like what’s going on? She’s like, I’m doing print on demand, Scott. It’s beautiful. We don’t have no inventory. We got nothing. I’m like, Whoa, whoa, whoa, slow down. No inventory. Like the things that we were struggling with, like warehousing, like all that stuff. And she’s like, yeah. And I said, all right, you got to tell me more. And so then her and her husband, we went out to dinner and then she kind of explained it. And then my wife was interested. So she actually came over to our house and helped my wife set her little shop up and, and got started. And,

06:44
And then from there, it’s kind of been just like a little bit of a side hustle. And, and then from, you know, I say probably about eight months in after my wife had her first fourth quarter, which wasn’t, it wasn’t huge. was like 20, 30,000. That’s a lot, man. That’s a lot. It was, it was, and it got my attention and I was like, well, wait a minute here. Maybe I should kind of come in here and try to work in the business a little bit, like everything that we’ve done before.

07:09
We start a blog, we do an email list, we do all the things that we did before and maybe I can do that and I can also teach and share. And so that’s what happened. But I didn’t really get into it too much until actually Cody from Everbee, who’s a good friend of mine now and it reminds me a lot of Greg Mercer. It’s almost the same pattern of how it happened because Greg came to me.

07:32
years ago, like he did you and said, Hey, I got this little Chrome extension. It helps you find products on Amazon, whatever. And, uh, and then we became friends and then his thing blew up. mean, the thing is, um, you know, I don’t even know how much it’s valued at now millions. Um, but it’s a great company, big company, hundreds of employees. Um, and now Cody reminds me of this same guy. And so of, of Greg, and he just said to me, you go Scott.

07:58
we need someone like you in this space. There’s no one in there doing this right now. And he was a fan of the podcast before and he sold on Amazon and all that stuff. And he’s like, we need someone like you. I’m like, I don’t know. And I kicked it around for probably six months. And then I said, all right, I’m going to do it. And then talking with you about YouTube, said, let’s just, let’s just start helping people and see where this leads. And that’s kind of what I’ve been doing. So yeah, I mean, to answer your question, she got referred to by my ex business partner.

08:26
No, we didn’t leave on bad terms. We just sold the business. Is she, is your wife doing print on demand then? Yeah. All print on, you know, what’s ironic about this is that we just bought a printer. we’re, doing the printing on demand now in our shop. Yeah. So it’s actually there’s a, there’s a guy I know, uh, Steven Chin who actually, um, they built their business through COVID doing masks, right. And customizing masks. then he did over a million dollars in masks on Etsy.

08:56
And then they obviously went out of business. You know, it didn’t go out of business, but the business stopped. So he’s like, what do we do? And he bought all this equipment to print them in-house. So then they ended up doing their own print on demand and they, do it all in-house though. But he had hundreds of employees and then he went out and built a tool that basically now will automate that through the backend and the API and stuff. But, he still does in-house. Awesome. I just don’t want anything to do with employees. yeah. Yeah. Yeah. I mean, we have the employees are ready for Bumblebee doing the embroidery.

09:26
Printing is actually easier. Yeah. So Etsy in terms of like the numbers in the marketplace, it’s probably like a thousand times smaller than Amazon literally. So I actually looked at that before I jumped on her because I knew you’d want some numbers. Um, I think right now, I think right now the last that I checked it was 7.5 million sellers. Okay. Etsy sellers and they’re like 95 to a hundred million buyers. Right. And I think Amazon right now,

09:55
is around million shoppers, buyers. So that’s the number that I came up with. Could I be off? Could be, but yeah, Amazon is a lot bigger and I think e-commerce in general is pretty large. But the numbers that you were just quoting, those are really high numbers. There’s this common misconception that you can’t make that much money on Etsy. For the people that you’ve interacted with, what would you say like the revenue potential is for a business like your wife’s?

10:22
Gosh. Well, we just had this conversation the other day, Steve, because we also built out a Shopify store. We got that going. Um, we actually just did that recently. I’ve had a blog that’s been attached to this, a content site that gets about 30,000 views a month. So that’s a blog. is. Yeah. And I’ve got it. I’ve got Mediavine on it. So we’ve got Mediavine that’s making maybe 1500 bucks a month and just passive, you know, kind of media money when

10:46
You know, when, when I was looking at like the whole thing, I’m like, we could build this into a sizable business, like seven figure plus easy, right? But I’m like, you know, I don’t know if I want to, I literally said that to my wife. I’m like, I don’t know if I want to, let’s just keep doing what we’re doing. I keep teaching. Yeah. You know, we’ll make enough money. Like, like we’ll do what we love to do, but you have to also look at like when you’re doing print on demand, even if you’re using another third party company to do it, like printify.

11:14
You still have customer support. You got people saying like, Oh, I didn’t want it to say that. I wanted it to say this. Right. Cause my wife’s doing personalization. She is doing that. So she is personalizing things and she just had it happen the other day where, someone’s like, no, I wanted it to be this year. I put in the wrong year. Right. So now you got to go back in and hopefully you can catch it and printify and, and all of that stuff. So yeah, it’s still, um, there’s a ton of potential. So to answer your question, I, uh, I, uh, did an interview.

11:44
with one of the, actually not one of the number one seller in Etsy. And they have been for like the past five years and they sell jewelry and they have over 2 million sales. Like, yeah, crazy. And up till recently, they were just doing Etsy. And I say recently, probably in 2021, I think is what he said.

12:10
Um, that they, uh, they, decided to do a Shopify store and I think they have about 30 employees now. Right. But yeah, that’s a multimillion dollar business. So is the numbers there, depending on the products, depending on all that stuff comes into it. I think that it doesn’t matter what platform you’re selling on it still, but I think handmade is always going to be bigger on Etsy, right? But it’s not only handmade anymore. Everybody thinks it’s only got to be handmade. Um, now there are people coming in trying to do drop shipping. That’s going to get kicked off pretty soon. Like.

12:39
It is gonna happen. But print on demand is pretty big as long as you’re designing the design, know, and you’re making the design and stuff, it’s handmade in their eyes. So walk me through the process of getting visibility on Etsy. And let’s say you’re launching a new design or your wife’s launching a new design. Walk me through the steps. Is it like Amazon, keyword dominated, that sort of thing? Yeah, so keyword, yes, keyword. I would say keywords is definitely a big deal.

13:08
But again, it’s exactly, this is what I love about this because everything I was teaching on Amazon, it’s pretty much the same over on Etsy as far as like the algorithm goes. You know, like we all know that if you wanted to rank a product, but again, you got to know that what you’re targeting, right? Like I just had a conversation with one of my students the other day and she has a great product. It’s doing great on Tik Tok. It’s getting like, she made like $4,000 on this product, which is like a $30 product on Tik Tok, but she’s not really selling anything on Etsy with that one product.

13:38
And I’m like, well, what’s the difference here? And I looked at the titling and I’m like, it’s, just doesn’t, it doesn’t make sense. We have, we have to fix the title. Um, and then you’ll start getting traffic. But to your point, as long as you’re, you look at the numbers and that this is where a tool comes in to show you like, what’s the potential for a product. Right? So in her case, she sells like reclaimed wood, right? And she created this reclaimed wood personalized. Uh, it’s a little sign for Christmas that has, uh,

14:08
that has all of the different days of the Christmas that you put a candy cane through. Right. And so we did great on Tik TOK, but she didn’t have it labeled like farmhouse Christmas decoration. Right. We know farmhouse is a really popular search term. And if people see that, even though they’re not searching for a candy cane, you know, Advent calendar type thing, if they see that they might want to buy it because it’s, it’s rustic wood and it’s farmhouse. So if you took that same idea, right, let’s say that that is being searched for

14:38
And then you get an influx of sales. It’s going to automatically, uh, get the attention of the algorithm because Etsy, like any other platform is going to promote products that are selling. Right. So to me, our launch plan is very, very simple. And it’s very similar to what we used to do on that on Amazon. You launch the product, we discount the product pretty heavily. We run Etsy ads, push it as hard as we can. We have an email list. We tell them that this week only it’s 40 % off because we’re doing a launch special.

15:08
Um, and then basically that’s it, right? We just want to try to get as many sales through that listing as possible. Number one, it’s going to get sales. We’re going to spike the algorithm, but then we’re also going to be able to start getting reviews on that item. What’s what a review is going to do. That’s going to help us convert hire when people land there and all of this stuff that we all know, um, turns people into buyers. So yeah, it’s pretty, that’s pretty much what you’re going to do. The people that are like, I’m just going to launch a product and let organic take over. Good luck. You know I mean? Like it’s just like,

15:38
Everyone else is doing that. What’s going to separate you? You’ve got, I mean, think about it logically, 50 listings of almost the same type of product. What is, what is Etsy going to promote? What are they going to put at the top? Because you’ve got better SEO. Who cares? Right. So with print on demand specifically though, can you just kind of walk me through what your margins look like? What do you sell? First of all, print on demand wise? Yeah, it’s typically going to be a sweatshirts, shirts, obviously, pillows.

16:07
Flags, yard flags are big. Regular flags that you hang up are big. Obviously this time of year, stockings, ornaments, all of those things. And there’s other things, blankets. Blankets are a great one. They’re great margins. We’ve got a couple on our couch. Basically like a fleecy type of blanket that you can use for the couch. You can print the whole one side. They might sell for 79, 89 bucks and the margins on those are about 40%.

16:36
That’s not bad. That’s pretty good. It’s not. It’s not for completely like to me, automated in a sense to like, literally you put up the product, you got no inventory. If it sells great, if it doesn’t, you’re out 20 cents for the listing fee for three months. Right. I just wanted to take a moment to tell you about a free resource that I offer on my website that you may not be aware of. If you are interested in starting your own online store, I put together a comprehensive six day mini course.

17:04
on how to get started in eCommerce that you should all check out. It contains both video and text-based tutorials that go over the entire process of finding products to sell all the way to getting your first sales online. Now this course is free and can be obtained at mywifequitterjob.com slash free. Just sign up right there on the front page via email and I’ll send you the course right away. Once again, that’s mywifequitterjob.com slash free. Now back to the show.

17:33
And in terms of choosing the keywords, I imagine you’re using Everbee to figure out what keywords are special, but a lot of times it comes out of the design though, right? 100%. Yeah. It does come down to keywords. Now the other cool thing is, like what we’ll use Everbee for is like, like Everbee is like any other tool though that has like keyword data. It’s not exact. It’s guesses. Right. And so what I like to look at more than anything is I like to look at the products that are selling that are similar. And then I look at their title. What did they use?

18:03
And then I look at their tags because we can expose their tags using a tool like ever be. Right. And then I can go, Oh, they’re using these. didn’t think about putting in there, uh, you know, uh, you know, sweatshirt for Nick, you nurse, right? Like that’s a tag. Okay. Well, maybe I should use that. Um, so that’s how I think about it, but honestly, your SEO can be 80%. You know, good, but if you’re getting sales, just.

18:29
it takes it up a notch because you’re getting those sales as long as you, and you know it Steve, like there’s going to be probably a handful of keywords that are driving a bulk of the traffic. Right. Walk me through Etsy ads. Is it just like running Google ads or Amazon sponsored it? No, it’s okay. The one thing that’s, that’s good about it is there’s not a lot of knobs to turn. I’m not a lot of buttons to click. Okay. It’s very, very basic. You can’t isolate keywords. You can’t isolate, uh,

18:57
You can’t isolate a certain product. You can’t do any of that. All you do is you basically say, I want to advertise these five listings. I want my budget to be 25 bucks a day. Right. And that’s basically all you can choose. Huh? So you can’t really, there’s no knobs to turn really. There’s really isn’t the only thing you can do.

19:19
is on the backend. Once you start getting traffic through there, you can see the impressions, which is a good thing. So I always tell people like, even if you ran ads just to get the data to say, okay, we’re not relying on a keyword tool so much, but we’re relying on true data. I can see the impressions. I can see my clicks and I can see my sales. The other thing I can see is keywords that drove people to the listing. Okay. That’s important. Right. So now what I can do is I can go, Oh,

19:47
I’m selling a reclaimed rustic wood sign, right? Christmas sign, but I’m showing up for the keyword wood. Nah, I’m to turn that one off. I don’t want to show up for just wood because if someone goes there, they might click on it, but they’re not really targeted for what I’m selling. Okay. So you can do negatives. You just don’t have control over the positive keywords. Exactly right. You just turn them off and then that way they’re, you’re training, you’re training the, uh, you know, the Etsy ads algorithm.

20:16
to not show up for that because it’s not relevant. So in terms of return on ad spend and cost per click, I imagine it’s significantly lower than, I mean, I guess it’s hard to generalize, but compared to Amazon, I mean, are we talking lower CPCs and? Yeah. And that’s the other thing that Etsy really doesn’t have. They don’t have a really good way of tracking. They show you the sales that came from it. They will show you that.

20:45
Um, so we can look at it look at ROAS and all that stuff. But again, when you have your ROAS in there, it’s not taking what you paid for the product. Of course. Yes. Yes, of course. So we still have to figure that stuff out. Well, yeah, but a lot of people don’t realize that they’re like, Oh, look at that. I got a 15 % ROAS. You’re like, did you? You know, like, no, because we need to take out the money. So how much did you really make on that? So, um, and there’s not a lot that you can do from someone clicked on it.

21:12
Uh, they didn’t purchase it right now, but maybe they bought 30 days from now. Right. Right. So we, don’t have a lot of that. So I don’t look at it like that. I look at it like I use the Etsy ads to get those, that sales velocity. I also think that when you’re running Etsy ads, and this is just my hunch that I do believe that Etsy might give you a little nudge in your organic because they’re like, Oh, they’re spending money. They’re a real business. They’re like, they’re trying to push their business. I think it gives you a good check.

21:42
mark against your, your brand. Um, but the other cool thing that it does though, is it will show you, you know, the orders that came from it, but not just the order that they clicked on. It’ll show you everything that that customer purchased from you or anywhere from us. like in, the shop, if, if they clicked on the, the wood reclaimed sign would sign, but then they also bought a sweatshirt and they bought a pillow.

22:11
I can see that underneath there. So that one customer now didn’t just buy the one they actually bought. You see, so we can get to see that. But the other cool thing is too, is, and this is what they have set up inside of the Etsy platform for, for sellers is you have the, call them internal email triggers. So if someone favorites one of your items, you can set up a coupon code to go out to that person. It’s all built into the Etsy backend.

22:38
So let’s say that you drive someone over from a ad on Etsy, but they favorite a bunch of your items. can have one of those favorites become a email that gets sent out to them on the behalf of you from Etsy that’ll say, hey, we noticed that you liked this item. Why don’t you take 10 % off? So it’ll do that. The other one it’ll do is it’ll do add to cart. So if you have someone add to cart,

23:04
You can set up a trigger there that’ll basically say, Hey, we saw that you, uh, that you wanted to buy this thing. You haven’t purchased yet. Why don’t you take 15 % off and buy today? So you can set that up. And then the other one that they have is if someone buys a product, you can send out a thank you. Here’s 20 % offer for buying it from our shop. That’s all internal within, within that. So what’s the timeframe on like the add to cart and not purchase? Like you obviously don’t want the email to go out right away, right? Yeah. I don’t know what the exact is, to be honest with you. They don’t tell you, um,

23:34
but I’m assuming it’s going to be within that same kind of time period that has been kind of proven over time for e-commerce. I would say like it’s going to be soon, but it’s, not going to wait a week. Um, you know what mean? And also you have to keep in mind that Etsy also is only sending this out to people that have, um, basically raised their hand to receive Etsy emails. Sure. Yes. And this doesn’t cost any money. No. Do you need to discount the product?

24:02
You do need to give them some type of coupon, a reason to do it. So, I mean, you can give them a 5%. I was doing 5 % for the favorites for a while, but then I opted for 10%. I’m like, ah, what the hell? Let’s see what happens. And then they’ll show you the numbers. They’ll, they’ll show you like, okay. Um, a hundred emails got sent out and you got three sales from that. So it’ll show you that. Okay. Um, one little trick though, that I figured out and I did it by accident was if you go in there, I’m going to do this after the holidays, because what you can do is if you.

24:31
If you turn one of them off and then turn it back on again, you can, you can choose to send it out to customers 90 days in the past. Ah, okay. So if you, if you kill it, let’s say you kill it you go, Oh, I want to take my 5 % and make it 10%. It’ll say, start, you know, create a new campaign. And then it’ll say, um, would you like this to go out to the customers in the last 90 days or people in the last 90 days that added it to their cart, but didn’t purchase or favorited the item and didn’t purchase.

24:59
So you can actually do that and they don’t really tell you that until you actually do it and then you can check that box, which is pretty cool. So for the people who shop on Etsy, they probably know this, right? So are they just favoriting and adding stuff to cart and I don’t know, Steve, they’re not as slick as you and Well, no, I’m just, I’m just wondering. Yeah. That’s all automated. I know earlier you were saying that you were really excited about email, specifically email that you control, right? In this case, you don’t have their actual email address. It’s all built in internal to Etsy, right? This is

25:27
This is true, but the cool thing that Etsy does that Amazon doesn’t do is they do want us to email market and they actually have an integration right now with a Weber, which by the way, on the record, I don’t like a Weber. Um, I’ve used them for years. Uh, I used to use them for years. I did when I first started, it was my first provider and they somehow got to be promoted by Etsy in the integrations. I used them because it was the only way that I can make it work because that was the only integration.

25:56
But now the guy I was talking about, Cody, they just created Everbee email, which is now part of their suite of tools, which allows us to do that, but way more. Um, but yeah, Etsy says right in their documentation that you can collect an email from your customer. You do have to get their consent. You have to let them know what you’ll be emailing them and you have to get them to double opt in. Basically that’s what you’re doing. Um, and there’s ways that you can, that you can do it just like we used to do it years ago with, you know, tools like feedback genius or.

26:26
sales backer or any of those. but yeah, we get to have their email address now, um, which is really awesome because, you know, let’s say that you have a great Q four, which we’re going to all of those people now can become subscribers, which then I can get repeat customers from. Um, so yeah, and they become part of my email list so I can port them right. I can export them out of my ever be account. And then now all of a sudden I can put them wherever I want, or I can keep them right in there.

26:54
So how can Etsy enforce what you’re emailing if it’s the real email address of the customer? They can’t, right? Oh, I don’t follow you. What do mean? You just said, uh, well, okay. Maybe let’s take a step back. How do you actually get the email of the customer? The real one? Okay. Yeah. Right. Okay. So the email is automatically given to you from Etsy and it’s, it’s automatically exposed. Like I can see it right in.

27:19
the orders, right? I can see that. And there’s tools out there right now that have been scraping them for years. It’s not legal, it’s not terms of service, but people have been doing it. All Etsy is doing right now, and this is one thing I’ve noticed with Etsy, they’re not that sophisticated, right? Like they’re still kind of behind on their UI and just certain things, right? Like it’s just, it kind of reminds me of like 1990s, right? Like with AOL and stuff, that’s kind of what I think of. I really do. I’m like,

27:47
Guys, we can step this up a little bit, but with that being said, you can take that or that email is automatically given to you, but it’s almost like they’re not making it. Like if you don’t get a double opt in, you can’t email them. But what they’re saying is in so many words is if we get complaints that customers are saying, Hey, this, these people are emailing me for my Etsy order, you’re probably going to get flagged. if you get flagged, you’re going to probably get banned, right? That’s, that’s what’s going to happen. So.

28:16
It’s kind of like, don’t want to call it the honor system, but in a sense it kind of is you could just skip the double opt-in and get them on your email list. I wouldn’t, um, just cause I wouldn’t want to take that risk. Uh, but yeah, that’s there’s, there’s nothing holding you back from just getting the email addresses. in terms of the automated integration of taking that email and adding it to an email provider, as far as you know, only a WebRN ever be have this capability right now. Yeah. I think Alora.

28:45
might as well. think that’s how you pronounce them. Yeah, I think they might as well. I don’t know. But the only one that’s publicly in there right now, like if you went into your integration in Etsy, the only one that you can see is a Weber pretty soon. Ever be will be in there, but you can connect with ever be. I mean, they’ve got the integration all in there. It’s like one click. It just connects to your shop. The minute it connects to your shop. The cool thing is, and I don’t want this to be a big promotion for ever be, although I love those guys. But basically now it just, once you, you sync it up and connect it.

29:15
It immediately goes into a sequence where you will, um, you can basically send an email out to, cause Etsy has said you can send emails to your customers about an order. Okay. That’s in their terms of service. So if you, if you’re going to confirm your order, uh, you can basically send an email about that. Hey, just got your order. We’re preparing it. We’re going to ship it, whatever. When items shipped, Hey, just want to let you know your items being shipped. Uh, if you need anything in the meantime, let us know. And then when it’s delivered, Hey, we just.

29:44
Notice that was delivered. Let us know if everything’s cool. You can send those out because it’s pertaining to the order, but where you are able to now get the email to become a subscriber is inside of those emails. You’re going to put a little blurb in there and say, Hey, and by the way, we have a VIP club. If you’d like to be part of it, click here and we will send you, uh, you know, emails about our upcoming specials, something like that. Once they opt in there, it’s fair game, whatever you want to email. It is. is.

30:14
100%. And then once they’re there and they’ve confirmed there, then you could export that list out of that and go to whatever platform you want. If you want to go to convert kit, if you want to go to any of them. Um, I personally wouldn’t because everything’s in house now, right? It’s all under that one, one roof, but you could, right? If Etsy decides to ban you, you can just export your list and take it with you. Do those providers also have knowledge of what the person bought? So you can do cross sells automatically and that sort of thing. Yes.

30:41
Um, yes, they, they absolutely do. And even a Weber does where you could then see a product and then you can create a sequence for that product. Um, now ever be, I believe does they’ll actually, what’s cool with ever be though now too, is it’ll show you like on the order confirmation, it’ll show you your open rate, your click through rate, and it’ll show you if they ordered anything extra from that order confirmation. Nice. Yeah. Cause inside of there too, they’ve got a feature.

31:08
that they built in that’ll pull in your products from your Etsy shop. And you can say, I want it to be my best sellers. And you can put it at the footer there and it’ll show like two of your products or four of your products. So you can actually cross promote right in that one email. What’s funny about this is I feel like Etsy has been around as long as Amazon. Maybe, a lot. But, and this is just starting to happen. That’s, that’s what I’m saying. Yeah. That’s what I’m saying. And you know, you know, uh, Scotty V likes email. Yes.

31:38
Yes. Scotty V all over, all over this Steve. Yeah. This is good stuff. So if you’re brand new and you’re starting print on demand, people are listening to this episode. It seems like ads is par for the course. Yeah. Right. And you might not have an email list in the beginning. So what is it? Just list, do a little bit of keyword research ads, press the winners. Yeah. The only thing I would add to that is, and, uh, this is something I know Jackness has done, um,

32:07
I don’t know if you’ve, you’ve probably done these, but just doing your typical giveaway, right? Like, so that’s a big one for us. Like we launched our Amazon brand by building a list of 5,000 people that were interested in cooking, right? And then we were able to launch our products and get a hundred sales on a brand new product and then climb the ranks. Right. And so, and I know Steve or, um, Jack, this has done that before too, for his brand color it.

32:32
Um, but yeah, I mean, that’s my thing right now. I’m not, I’m even doing it for my, my wife’s brand is like, we’re going to take four or five of her products. We’re going to put them in King Sumo and we’re basically going to run a Facebook ad, you know, over, you know, target the right people that would be interested, run them over to the giveaway, let the get giveaway do its thing. And then we’re collecting those emails and then I’m going to add them to my email list. Now they’re not from Etsy, so I don’t have to worry about that. I’ve already got them to opt in and now I can import them into my ever be account and I can start emailing them.

33:02
through that account. But are you driving those people to Etsy? Yes, I will be. Yeah, like right now, like in that, I think that’s a debate too. Like people are like, well, what if I have a Shopify store? Shouldn’t I send them there? I’ll spend in less, less fees. And the answer is yes, but you also won’t be getting the benefits of driving the rank up by getting sales. So you almost have to like in the short term, maybe sacrifice your Shopify and just push to Etsy. So that way there you can spike the algorithm. Cause I know that some people just

33:30
Don’t shop on Etsy. So I guess maybe in your targeting, you target people who are Etsy shoppers. that you could sure. Yeah. Yeah. For you, a hundred percent could do that. Um, but yeah, I mean, think regardless, if people like the product, they’re going to buy it on whatever platform it is, whether it’s your, your site, Amazon. I think the thing with an Etsy or an Amazon is it’s a trusted platform. It’s been around for years, right? So your conversions were going to be higher versus going to, you know, your Shopify store. You gotta have a lot of.

33:58
you and you do on yours, you have a lot of like accolades and things that you guys have accomplished and you’ve been around for this many years. You got a phone number, like all those important things, but you go to Etsy, you’re like, I got a problem. I’m just going to tell Etsy. don’t like it. They’re going to give me a refund. So, but one other thing though, too, Steve, that I don’t know if whoever’s listening, if they do sell on Etsy, if you, if you haven’t heard of this yet, they rolled it out about, actually I know the exact date was September 6th. It’s called their share and save program. Okay. Did you hear about this? No, no, no.

34:29
Okay, good. Let’s come into here live with, with me from me to use them. September 6th. mean, that’s just a couple of months ago. Yeah. Yeah. So share and save what Etsy decided to do is they are giving us Etsy sellers a 4 % refund on our Etsy fees when we drive our own traffic. So if you, um, if you had a hundred dollar order, they’re going to give you four bucks.

34:57
that you would have paid in fees. Okay. Um, so I just did a little case study, uh, a month ago. Uh, it was, well, it was in October and just from email, think we, I think we generated like maybe 3,100 bucks. Just from email got about $140, $150 in fee money that I would have paid. That’s now in my pocket. That’s profit. So clearly Etsy wants us to drive our own traffic.

35:25
Right? So if they want us to drive our own traffic, they recommend starting a newsletter, right? Using social media, like all of these things. So that’s another reason why I love email so much because I can control that. I can also see it. So now before, when you couldn’t track sales from email that much, cause Etsy didn’t give you the, you couldn’t put a pixel or anything. Now I can see my link. I can see how many times it was clicked. I can see how many times that people bought and I can see how much money I made extra outside of the fees.

35:55
It seems like they’re following an Amazon’s footsteps because Amazon does that stuff too. I’m sure. Yeah. Let’s switch gears a little bit. Let’s talk about the creative side of creating the products. Uh, is the wife, the brains of that operation? Okay. Yeah. Does she have any methods? Like, uh, do you have goals on how many products you release or is it just whenever she feels like creating a product line, she does it. Yeah. Well, okay. So anybody that knows my story, like her and I back in the day, uh,

36:22
We had a photography studio and she was a creative on that, right? That’s her, that’s her almost like a creative outlet and almost Etsy for her as a creative outlet. Like she just loves designing. She loves creating and she loves making people happy and putting a smile on people’s faces. So that’s her thing. The marketing side, not so much. She doesn’t really care to now if I wasn’t around, she would probably figure it out and do it on her own, but that’s kind of my wheelhouse. But for her right now, she’s

36:49
We know that like when you’re leading into the holidays, you that you got to basically take advantage of it. And there’s been so many people that I’ve interviewed and talked to about Etsy that are selling on Etsy, even the million dollar sellers, 80 % of their sales are typically coming from Q4. 80%. Yeah. But you’re talking like I was talking to that Steven and he’s like, yeah, I mean, we’ll do, we’ll do like four or $500,000 in November. And I’m like,

37:17
Okay. I mean, that’s, great. He’s like, you know, and then in December we’ll do a good portion too, but then it kind of, tails down. It’s steady, but it tails down. Um, and so knowing that going into the season, you’re always gonna, even though you might say, well, I don’t want to, I don’t want to, uh, uh, know, create 30 products a month. might say, but I probably should, because I want to take advantage of this traffic that’s going to be coming through the door. Um, so for my wife, I would say she’s in.

37:46
creation mode, I would say leading up to the holidays, she’ll probably stop like right now she’s still creating, but she’s going to slow up and then it’s going to turn into now more or less like support and getting the stuff done. Right. I would say she was probably at the pace where she was doing, I don’t know, a new design a day, you know, like it was a new design, but then sometimes that new design might go on five different products. That’s the beautiful thing is too. You take one design and now it gets put on a pillow, a flag, a blanket.

38:15
Sure. Uh, you know, so now you’re be able to create five products out of one design. Does she pick a certain theme each time? Like I guess, cause I’ve never seen her Etsy store before. Does she say, okay, this is my Christmas line of products. And then she just pumps out a bunch of designs related to that. Yeah, it’ll definitely be theme related for sure. So if it’s like, if it’s like Christmas, you’re going to go down that, that line. Um, and also trying to bring, bring something like new and clever. Um, and, and again, like,

38:44
you’re pulling inspiration off of other products that might’ve did well, but they aren’t even close as far as like what the design is because my wife will come up and she’ll either make it a lot better or she’ll just take the idea and come up with her own. but yeah, it’s definitely theme based. So if you’re heading into Easter, she’s going to be going Easter heavy, right? If she’s, if she’s leading into, um, even fall, right? It might be like fall decor, home decor, right? It might be in that, but

39:12
The cool thing is, is when you’re adding it to your catalog, the stuff is still going to reside there. And we’ve had people buy Christmas stuff in July, right? Because it’s still in the shop. Right. Um, but yeah, I would say typically it’s going to be, um, it’s going to be going down that, that road. mean, and you using, you know, one of my students there who does the reclaim wood, like she’ll do like, she does like reclaim wood where you can buy the wood to put on your wall, but she also sells those big, tall Christmas signs that you lean up near your door that says something cute.

39:41
about Christmas, right? So she’s gonna do a bunch of those leading into the season versus she’s not gonna do those in July. July is gonna be more spring summer, right? What tools does your wife use to create the designs? Can she get away with the Canva or does she use Illustrator? 100%. Like I’m a Photoshop guy, you’re a Photoshop guy. Yeah, Canva 100 % and Canva is crazy because that’s all I pretty much use now for my stuff. Like I don’t even get into Photoshop anymore. Interesting, I didn’t know that.

40:09
Okay. I don’t, I kind of retired it, man. I don’t have it on my new laptop and I don’t have it on my other computer. I only have it on my older computer. So if I want it, I’ve got it. But yeah, I mean, I’ve been able to manage myself with Canva as well, Canva pro and, that’s it. And then she’ll use creative fabrica at times to get some fonts or get design elements or something like that. And then she’s also hired a fiber gigs. She’s had people go out there and draw certain

40:36
components that she would want and then she’ll add them to her thing. Um, and that’s pretty much it. So tool wise, I mean for design is like Canva, creative fabrica, you know, maybe fiber. I was going to ask about AI actually that that’s where I was leading. We, we experimented with it. Um, and, we, created a few elements here and there, but, uh, but honestly, uh, she hasn’t really felt the need for it. Okay. You know? Yeah. But

41:03
There’s definitely been times we’ve, we’ve experimented with it. I mean, when it first come out, obviously I was whipping things up and saying, what do think of this? And she’s like, Oh, that’s cool. You know, but at the end of the day, uh, she’s been getting by with what she’s been doing and she kind of has her own system and rhythm. I’m not gonna, I’m not gonna mess with you. What’s funny is that we’ve been buying some designs on Etsy for our stuff. Okay. So people buy designs on Etsy too, right? For commercial use. There’s a lot of people that’ll do the SVG files. That’s all that they create.

41:30
It’s a great little business. I don’t love it because it’s so easy to copy and replicate. And also the margins are so they’re good, but the price tag is so small. It’s like what? Three bucks for a graphic. Correct. It is small, but it is a digital thing because it is, it is because we’ve been doing personalization for 15 years. Like people come back. It’s a physical product. They don’t like this or they made a mistake. You kind of have to cater to them. Yeah. So it’s, nice. Yeah. Yeah. Yeah. For sure.

41:59
That’s cool, Scott. I am curious about like the whole creative process, but it sounds like you guys have been doing a great job with it. I am shocked that 80%, like I’ve heard 50 % for e-commerce, but 80, I guess it makes sense because most people will look on Etsy for gifts, I feel, right? Gifts. It’s a big gift-giving site for a hundred percent sure. Yes. Gifts. It’s big gift-giving. So again, Mother’s Day will do great. Father’s Day will do great. Like all of those major gift-giving holidays and events.

42:28
You know, weddings is big, like weddings is big on Etsy. If you’re like, if you’re in the wedding industry, like, and, so like your audience, like we had talked, right. And you’re like, yeah, my, don’t know if my audience really would care that much about Etsy. And I’m like, I think that they should, because it’s a platform that all they got to do is put their stuff there and pick up another hundred or $200,000. Like who wouldn’t want to do that? Um, like the girl I talk about with the reclaim would, I mean, she does, she does seven figures a year.

42:56
Right. And she does a lot of it on her own website, but she does about, I don’t know, 150 to $200,000 on Etsy. Hmm. And it’s pretty much, she hasn’t put any other, she put like 60 products up, right? And she might sell 20 % of those, but that’s money she wouldn’t have had. And it’s new customers that she wouldn’t have had that are now going to buy on her own, her own Shopify, um, you know, shop. So I think for anyone out there that’s in e-commerce, I don’t care what it is. Um, obviously if you’re selling like, you know, a cell phone.

43:26
You know what mean? Like you’re not going to be doing that, but like cell phone cases. Yeah. Like if you had something unique and original, why not? Why not put it up there? Right. Um, you know, certain things like that. I saw someone that was crushing it and he made like, he made like these X-Box like holder, like cases and stuff. And he was doing like 30 K a month in just those. Um, so I just really feel like it is an opportunity that a lot of people are just like, ah, it’s Etsy. It’s only handmade, right? It’s, only stuff like that. Right.

43:55
It’s really just to me, it’s untapped and it’s a super easy platform to navigate, to manage. I mean, there’s a lot of people on there not selling handmade goods, but if you sell stuff that goes into handmade goods, that counts too, right? Yeah. Yeah. Yeah, for sure. You know? So yeah, I think it’s a great opportunity. I mean, we’re having, the big thing is Steve, you know me, like, I just want to have a good time doing what I’m doing and the content that I’m creating or

44:22
Um, the things that my wife, like my wife and I, it’s either we’re talking about her Etsy shop and what’s happening and this, that, and the other on that. And then we’re talking about the stuff that I’m doing with the podcast and with the YouTube, but it all kind of comes together. So her and I are still, and I’ve, we’ve been like this for years, like a team, like I’m going to be married for 30 years coming up here, Steve. 30 years, man. just celebrated our 20. thought that was a long time, but I get the great grandfather of, selling online.

44:50
Yeah, right. Yeah. Hey, Scott, where can people find your channel, your podcast, all the cool content that you create? Yeah. Brand creators.com is home base for me. YouTube brand creators just go there. Um, and basically like you, Steve, mean, everything that I do, I give a lot away for free. I do have some paid things, but for the most part, just go to the YouTube channel, check that out and, you’ll probably get the information that you’re looking for. And if you have anything that you need help with, just reach out to me and I might make a video on it.

45:20
Sounds good. Hey Scott, great to have you back on the show, man. It’s been a while. Yeah, it’s been a while Steve. Appreciate it. Keep working on that backswing.

45:33
Hope you enjoyed that episode. Scott’s got the Midas touch. And if you were interested in selling on Etsy, go check out his YouTube channel. For more information about this episode, go to mywifecoder.com slash episode 524. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go over to sellersummit.com. And if you were interested in starting your own e-commerce store,

46:02
Head on over to mywifequitterjob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

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523: Productivity Tips: How To Get S*** Done When You Have 7 Kids With Toni Herrbach

523: Productivity Tips: How To Get S*** Done When You Have 7 Kids With Toni Herrbach

Welcome to a brand new segment of the show called Profitable Audience where my business partner Toni and I discuss all things related to content creation and building an audience.

In today’s episode, Toni and I discuss various ways to improve your productivity when it comes to content creation.

BTW, Toni has 7 kids, a bunch of businesses and a puppy. I don’t know how she does it all.

What You’ll Learn

  • Productivity Tips for content creation
  • How to run successful business when you have kids

Sponsors

SellersSummit.com – The Sellers Summit is the ecommerce conference that I’ve run for the past 8 years. It’s small and intimate and you’ll learn a ton! Click Here To Grab Your Ticket.

The Family First Entrepreneur – Purchase my Wall Street Journal Bestselling book and receive $690 in free bonuses! Click here to redeem the bonuses

Transcript

00:00
You’re listening to the MyWifeCooderJob podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Welcome to a new segment of the show called Profitable Audience, where my business partner, Tony and I discuss all things related to content creation and building an audience. Now, in this episode, Tony and I discuss various ways to improve your productivity, especially when it comes to content creation. But before we begin,

00:25
I want to let you know that tickets for the 2024 Seller Summit are now on sale over at Sellersummit.com. The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online and unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based event where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business. Entrepreneurs who are importing large quantities of physical goods

00:54
and not some high level guys who are overseeing their companies at 50,000 feet. Now I personally hate large events, so the Seller Summit is always small and intimate. Every year we cut off ticket sales at around 200 people, so tickets sell out fast, and we’ve sold out every single year for the past eight years. Now if you’re an e-commerce entrepreneur making over 250k or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The Seller Summit is going to be held in Fort Lauderdale, Florida from May 14th May 16th.

01:22
and the ticket prices are going up every two weeks leading up to the event. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 50 % off. My book will teach you how to achieve financial freedom by starting a business that does not require you to work yourself to death. Plus, you can still grab my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube, and podcasting when you grab the book over at mywifeclutterjob.com slash book.

01:50
So go over to mywifequitterjob.com slash book, fill out the form and I’ll send you the bonuses right away. Now onto the show.

02:03
Welcome to the My Web Quotar Job podcast. This is a new segment of the show called Profitable Audience where my business partner, Tony and I just discuss things, all things related to content creation, productivity and various other topics. And today we’re actually going to cover productivity because we have the queen of productivity herself on the show. Tony has seven kids, a bunch of businesses. I don’t know how she does it all. And a puppy. Can we talk about the puppy?

02:33
That’s a productivity killer. That’s my tip. Tip number one, do not get a puppy. I would never get a puppy. It’s like having another child, right? That eats everything off your countertops. So, yes, that’s but anyway. Yeah, I was actually thinking we should read just can we rename this like tidbits with Tony? know, this is the second. Well, I got some stuff to share, too. No, no, no. I’m just saying like this, you know, this new like part of my wife quit her job, like because I’m on it, not because you don’t have anything to share.

03:04
You are welcome to do a solo episode, Tids and Su Tony. I have no problems with that whatsoever. When, when all of your rankings tank, the advertisers go running away screaming. Uh, probably not. You know, it’s funny. We always have these talks where I go up to you and I say, I don’t know how you do it because like right now I’m actually at a point right now. And I was just telling you this before we started to hit record. Like my level of work is getting to a certain point where I need to start dropping stuff.

03:34
Because I always like, and you always make fun of me for this, but I always like to have a day free. Yes. Every week. Sometimes two. I prefer two actually. I was just going to steal your punch line. Or sometimes two days free. Well, you know why? It’s because I feel like you actually need to have at least one day free because emergencies always arise. Yes. Right. So you need some headroom in order to make forward progress with your business. And two is ideal because then you can actually relax one day.

04:02
Plus the weekend. really you only want to work three days a week. But you, I always feel like you have your schedule filled to the rim. I do. Right? To the brim. And I can’t live like that. So what happens if something out of the ordinary happens? Do you end up just scrambling and having to drop something or? You know me, of course I end up scrambling. Yeah, you’re always doing so. Okay. So let’s start with, why don’t you give an intro like what you have on your plate.

04:31
and that sort of thing. I want to talk about several things today because I think this is really important because we do operate very differently. You like a lot of extra space. I actually don’t love a lot of extra space, but I see the benefits of having that margin. There’s actually a book called Margin that’s really good. It’s an older book, but it’s still really applicable.

04:57
inevitably, everyone has emergencies, whether your dog eats a sock or your kid has to stay after school or you have a volleyball tournament, right? We’re all dealing with these things or you have a personal crisis, right? You need that extra margin built in. So if you have a day like mine, that’s usually just packed from the minute you get up to the minute you go to bed, that gives you no opportunity to have any, you know, glitch in the matrix, basically. Yeah. Like, for example, my fridge broke.

05:25
My car, my car needed repairs. mean, stuff like that can take, waste like half a day. Yeah. And that’s, that’s the hard part too, because what I think we, people don’t talk about with those things is that it’s not just that it’s an inconvenience. Like I got a screw in my tire a couple of weeks ago. And so that’s obviously something that you can’t just keep driving on. And it’s not just that you had to take that two or three hours to go to the tire shop. It’s then your mindset like completely shifts, right? Because you’re irritated.

05:53
You’re like, I’m wasting my morning, you know? then, so not only are you losing those hours of productivity, you’re actually losing so much more because your mindset almost always shifts into this. Even if it’s a slight level of irritation, it’s something that’s now basically keeping you from being as productive as you could be in the time that you have. Oh, 100%. So we were actually at my daughter’s volleyball tournament this past weekend, and I really needed to get something done because I was not able to get it done during the week.

06:22
And there’s a lot of downtime at these volleyball tournaments. So my wife was like, Hey, why don’t you just hop over to the car and just do 30 minutes of work of creative work where you have to write a script or blog post. And that just, I just can’t flip that switch on for 30 minutes. And that’s the one thing that I’ve actually, it’s, I feel like it’s one of those things that I’ve probably even said and given it to other people, but I haven’t taken the advice myself is that it’s very hard to flip the switch between the menial tasks that we all have to do on a regular basis. Right.

06:52
filling out, stuff in our QuickBooks or responding to an email versus writing a YouTube script or filming or doing things that involve a lot of brain power. And I’ve always said, take those little moments to do the quick things when you have them. But then I find myself being irritated and then not doing it. Like I’m just like kind of in a fluster of not being able to get anything done. So for you,

07:22
when Jen says, just go to the car and pop out a 3000 word blog post in 30 minutes. Or just whatever you can get done. Yeah, whatever you can get done. I have had a mindset shift in the past several months that I have a mental list of whatever you can get done things that are truly whatever you can get done. And actually yesterday was a perfect example. I had a packed day yesterday of non-work related things. had multiple appointments. We had a webinar at 5 p.m. my time.

07:51
So my whole day was basically, I didn’t even think I was gonna be home until about 4.30. So I took my computer with me because I had appointment, but then there was like, okay, well, how long is the appointment gonna go? And then I don’t wanna come home and then have to go back. So I was like, I’m just gonna be out. And if I have to sit in my car and work or go to a Starbucks or Panera, whatever. But then I was like, so my first stop, right? Where I was now had my computer out and I had like 35 minutes.

08:19
At first I was like, oh, I should write some emails. And I’m like, this is dumb. I’m not gonna write good emails in my car, balancing my laptop on my iSpy children’s book that I keep in my car to put my laptop on. And I thought, you know what I do need to do is I need to update some seller’s summit stuff. Mark off who we’ve gotten contracts back from, update speaker information, these little things, right? Create some email templates to send to our speakers and sponsors.

08:48
all these things. And I was like, well, that’s, that’s no brainer work. Cause we’ve done the same conference for a really long time now, eight years, all the information is basically they’re in my head or in a template somewhere. I just need to move it around. So I spent that first 35 minutes basically only working on those little projects. And what was crazy was I finished all of them and still had 10 minutes left because I was like, I was just laser focused on like, okay, get the contracts back, do this.

09:16
write this and it was I looked at the clock and I was like, oh, I probably have to go in to the next appointment and I still had time because I just wasn’t I just forced myself to just think about these tidbit, you know, little jobs that could be done. So you have a list of just menial tasks. Yeah. Yeah. Okay. I have a to do list also. It’s I use a Google draft. People always make fun of me for this, but I feel like Google or Gmail, a Gmail draft.

09:43
Yeah. Is the only thing that’s available on every device by default. Yes. Like you don’t have to install any app or anything like that. Yeah. So I have a, a huge to-do list actually, which every morning I just rearrange the lines in order of priority. And I just try to get through that. But the problem is, is I don’t, there is a mixture of, of brain power work versus stuff that needs to get done. So maybe I should separate that out into menial tasks as well. Well, because I, mean, we work.

10:13
sort of the same. I I basically work out of my email as my to-do list. So if there’s an email that requires action that stays in the inbox until the action has been taken. And then there’s other things obviously that I need to get done. I use ClickUp, which is a project management software for one of my clients. So I have different, like my to-do stuff is in a couple different places just because of the nature of what I do. However, I know that there are things that don’t require a whole lot of creative thinking.

10:43
And so when I know that, so for example, like after we record this, I of course have another appointment. So I’ll have like 35 minutes before I have to leave my house. So instead of being frustrated that I can’t work on a bigger project or I can’t film a video or I don’t even try, that’s the thing I used to try. Like I was like, oh, I’m just gonna have my camera set up like this. And you know this about me, like we would be doing this right now. And as soon as we would turn off, I would go try to film two videos.

11:11
and then I would try to leave for the appointment. But then what happens is you’re rushed, you get frustrated, you make one mistake and that one mistake becomes the deal killer, right? Because it’s not like I made a mistake filming a video and no big deal. Everyone makes mistakes. Let me re-film. I don’t have time to re-film. I have 15 minutes left. Like I’ve got to do this, right? So your whole mindset shifts when you just allow yourself that, listen, 35 minutes is not enough time to film a video. don’t care how, you know, unless you’re making a short.

11:41
you need to allow yourself an hour or whatever it is for you personally. And so now that I’ve sort of reshifted my thinking of like 35 minutes is time for me to, let me get back to a couple of those emails that I’ve just been kind of dreading or let me go book something for my kids that’s on my list, right? Like it could be a personal thing that I need to handle, but I know what fits into that time and I just put the things that fit as opposed to thinking that I can get something done that I can’t.

12:08
I mean, you have seven kids and I only have two. So you have three X the emergencies. Let’s just say. Yes. Yes. So when do you have the time to do the deep work? Cause I feel like there’s always something come up with one of the seven kids or, or something, your health or what? don’t know, whatever. Yes. Never. No. Um, so I, I think it was Erin Chase that gave me this idea from $5 dinners is that she basically set aside certain days for certain, uh,

12:37
parts of her business because like me and Erin, we have a bunch of different components. So I have my own website, we have the course, I have another Amazon course, I do email marketing for e-commerce sellers. So I have different buckets that don’t, even though it’s all in the same online marketing space, it’s very different, right? Working on a presentation for our course is not the same as writing emails or doing email strategy for an e-commerce client. So.

13:07
And I think we’ve talked about this on another podcast, but you know, Wednesday, since we record the podcast and have office hours, that’s sort of my course day. So that’s my priority on Wednesdays is obviously the podcast is always a priority. The office hours is a priority, but I’ll schedule emails for the course. I’ll reply to course members if they have questions. I’ll work on a presentation if we need to do that.

13:32
It’s also my Seller Summit day. It’s like my Steve day. Wednesdays is on my Steve day. I know you do your hair on Wednesdays too. I also have to wash my hair. So we will definitely schedule that time out. But that’s just sort of what Wednesdays have become. if it’s, you know, just whatever it has to do with the course creation or updates that need to happen or things like that.

13:55
Monday I have a team meeting with one of my clients. So Monday is pretty much all that client. I the full day I focus on that client because I’m already in that one meeting. So it just sort of makes sense. Tuesday is my day where I don’t have anything minus, whatever happens. So you do have a free day. I don’t have anything like meetings scheduled, things like that. So that’s the day that I will do.

14:22
what you talked about, like that deep work of, you know, that’s when I’m writing content, working on YouTube stuff. If I want to watch a webinar or like replay things like that. Like Tuesday is the day where I usually don’t respond to you. If you notice, like Tuesdays, I basically shut everything off. I’ve never I don’t think maybe I haven’t messaged you on a Tuesday in a long time. I don’t think because Monday and Tuesday are your busy days, too. Correct. Yeah. And so Tuesday is my day where I try not to schedule anything.

14:52
at all because I want to work uninterrupted. And usually on a two, like if I just put my head down, I can write 15 emails at least, like client emails. I can write YouTube scripts. Like I can get a lot done. I do work quickly. And if I don’t have the interruptions of, you know, kids, dogs, meetings, because for me, I know that like once I’m in a meeting,

15:20
Like I just can’t end the meeting and go right back to work. I have to have some time to just un-meeting. I don’t know what the right word is, but. I do have to compliment you on your emails because if you guys aren’t on our email list, profitableaudience.com slash free, you spend a lot of time writing like a nice story. Yeah. And it’s kind of unlike my emails, which the purpose is to point people to other pieces of content that I created that week. But yeah.

15:49
It’s very creative and these are all written by you, right? Yes. You’re not using any augmentation? AI. Nope. All right. Nice. So yeah, so Tuesday is sort of my day of, you know, just absolute focus. Don’t knock on my door. Don’t ask me questions. I hate to say it. My kids don’t listen to this, so it’s fine. But like that is the day if they text me or call me, get I have like inner irritation.

16:17
Wow. And they don’t know that it’s my it’s that day for me, but I just am so focused on Tuesdays that. Like, I don’t want to have to stop for anything. I don’t take any phone calls. I don’t try to make phone calls. Like, it’s just absolute focus the whole day. So note to self, do not text you on a Tuesday. I do respond to you sometimes, but like it’ll be a while before I get back to you I try to shut everything down. OK. And then are you do you work Wednesday, Thursday and Friday to?

16:46
I love to not work Friday afternoons. Right. Yes. Yes. I don’t. I don’t. So I have found for myself, like, I don’t want to work past three p.m. on a Friday. That’s just my personal like I just want to be done. I put in long weeks. So sometimes like you, I have a child in activities. So if I’m taking her to practice, I’m also working for two to three hours at night while she’s at practice because I don’t want to go.

17:16
get into the cheer mom drama. I will sit in my car or go to Chipotle or go wherever and just work for that time too. So there’s times where some weeks where I’ve already worked like 50 hours before Friday at three o’clock. So you work past three p.m. on a regular day? I’m not productive actually. work till five. Five thirty six. Just depends. Depends on what’s happening.

17:44
I just wanted to take a moment to tell you about a free resource that Tony and I offer over at Profitable Audience that you may not be aware of. If you are interested in learning how to make money with content, whether it be through blogging, podcasting, or YouTube, we put together a comprehensive six-day mini course on how to get started blogging that you should all check out. It contains both video and text-based tutorials that go over the entire process, including a full tutorial on how to set up your first content website. This course is 100 % free.

18:12
and you can sign up over at profitableaudience.com slash free. Once again, that’s profitableaudience.com slash free. Now back to the show.

18:22
Okay. Yeah. Yeah. For me, Monday is my busiest day. Sometimes film two YouTube videos on that day. Now I have two podcasts to just kind of put together and prep for editing for my editor. And then I have blog posts. Actually, I just revived the Bumble Bee Linens blog. Like literally, I just published five or six posts yesterday, actually. Because they were all kind of queued up.

18:51
And I was trying to train someone to read it and edit it. And I was like, forget this. I’m just going to do that. So you also had to make the crafts then. No, no, no, we’re not doing crafts anymore. OK, no crafts. This is a pure SEO play now. And it has been like that for like the past couple of years where we’ve had really good results, just mainly gift guides where magically our products are at the top. Magically, all the gifts involved embroidered.

19:21
So yeah, I usually work a full day, but a full day for me is usually till like one or two. But it’s you’re laughing, I know. But I don’t talk to anyone. I don’t do anything. It’s just me in a semi dark room and I just crank. I have Pandora on just putting my favorite 80s music on. Yeah. And I just little little new order. And for the videos, I usually already have the scripts written. Yeah. So

19:50
I use a teleprompter and so I just go through, I can actually film something in about 20 minutes. So if I do have a spare 20, 30 minutes, I know how long it’s gonna take to go through that script. All my videos are around 10 to 11 minutes long. And then Tuesday is when I’ll usually prep for office hours. So are you prepping office hours lectures now the day of? No, like two weeks in advance. Oh, two weeks in advance.

20:19
You’re so silly. You’re so silly. Because once upon a time, you did a couple of the day of and I was like, wow, I was really surprised because I can’t. That’s too much anxiety for me. Yeah. For me, sometimes I do it the morning of actually. I know you do. But usually I do it the day before. And since I have you as a partner and profitable audience, I pretty much only have to do something every other day or every other week. Sorry.

20:46
or every third week since we’re Zoom calls now. And Profile Online Store, I actually have a bunch of lectures kind of already stored up for a rainy day. And then Wednesdays, what do I do on Wednesdays? Usually I’ll have some sort of interview or something in the morning. We record this podcast on Wednesdays usually. And then office hours from 11 to one. And then my kids come home early that…

21:15
They’re home for lunch. So usually I just hang out with them for the rest of the day. And then Thursday and Friday are designed to be my free days. But Thursday is usually for Bumblebee. So for this particular week, we have that printer, as you know. So we got a bunch of St. Patrick’s Day designs since St. Patty Day’s is coming up. And I have to go through and create products for that and put them on the site. And I’ve actually been working on a whole new social media strategy for Bumblebee.

21:45
which I’m hoping I don’t have to be the one to run it, but I’m going to start it off and then hopefully hand it off because I hate social media, as you know. And then Fridays is usually completely free. I’ll usually just spend it with Jen, actually. And that’s the ideal week for me. But it’s not always like that because there’s emergencies that come up. And I would say most of your listeners cannot manage your schedule.

22:16
Most of the people listening to this podcast are not in a position to not work, only work three and a half days a week. See, here’s the thing. There’s physical work and there’s mental work. The mental stuff I’m thinking about all the time. Yeah, I’m not calling you a slacker. No, I’m just saying, I think the other problem is taking too much stuff on. I feel like you’re a yes woman. Would you agree with that? What I like to say. What?

22:45
Here’s what I like to say. Monday me is a yes person. Thursday me is a why am I friends with Monday me person. Ah, okay. Yeah. So yes, I am a yes person. But I’ve gotten a lot better. I feel like you like to be busy all the time. Is that accurate? So apparently, I just learned this. Apparently, liking to be busy is actually a trauma response.

23:15
from your childhood. Wait, what? Okay. Yes. Explain. So being busy is a… And I’m not… I had a great childhood. So this isn’t like I didn’t have any trauma. know, everyone has some trauma in their childhood inadvertently. But I’ve read this a couple of times now and I heard it again yesterday and I was like, is this just like someone knocking me in the head like, hey, trying to get you… Get the message to you. You’re not paying attention. Basically, when you are busy all the time,

23:44
It doesn’t give you time to process anything like emotionally, right? Because you just always have things going on. So it doesn’t ever allow you to like sit in your feelings, which I know very woo woo for you. But… It’s not woo woo for me. I’ve always wondered if you’ve had feelings. So, yeah. So being busy is… here’s the thing. People do this in a bunch of different ways.

24:14
People will also numb themselves through, know, they just watch TV all night, right? Or they use recreational drugs or they drink, right? There’s all these ways that you can numb yourself. And the busy one, I think, has gotten a free pass, right? Because what’s wrong with being productive? What’s wrong with having a great business or, you know, in…

24:40
It’s just it’s when you think about it, though, you’re like, OK, but why are you so busy? Like, why do you have so much to do? Because you’re just filling your time because most people don’t like to sit and just not have anything to think about. Right. Unless and then you think about all the things that are painful or unhappy feelings sort of thing. So busy being busy, like on purpose where you just continually fill your schedule is not always a good thing. No, I agree, because I can’t live like that.

25:08
Yeah, like if I go through two consecutive weeks when I’m working Monday through Friday, I know then I know I need to drop something. Also, I just heard this on a podcast this morning and I I avoided sending it to you. OK, but it was basically talking about people who publish a book and publish a book with the intent of making the bestseller list. It’s actually a very traumatic experience because of the amount of work and the amount of things that you have to do to put yourself out there.

25:36
is actually, don’t want to say damaging is probably going too far, but it’s I think that you this is now I’m now I’m your therapist, Steve. All right. I won’t even charge you for this. I think that you because you launched your book. had great success. It’s probably the hardest I’ve ever seen you work. And all the time that I did, worked like literally seven days a week. You did. Three months. You worked harder than when I met you and you had a full time job and your business.

26:06
I was listening to this person and she was saying everyone that she knew that had written a book with the intent of making the bestseller list was basically after the book launches and you either reach that success or you don’t, you obviously did. There’s a lot of like emotional trauma from all of that and issues. And I saw that with you. Like it was kind of like almost like a letdown, right? You like get this great achievement and then.

26:34
It’s a letdown and then it’s burnout and there’s all these things that come along with it and people I’m sure experience it in different ways. But I think you experienced it as well. didn’t want to do anything for the rest of the year. And in fact, I didn’t do anything for the rest of year. And maybe I’m paying for it this year. but not everybody can just not do anything like that’s not a normal. OK, by nothing, I mean just maintenance. Yes. Just keeping keeping the lights on. Absolutely. Keeping the status quo, which is essentially what I did for.

27:02
from May on actually after Seller Summit. I didn’t say yes to anything. I didn’t travel either. didn’t go to any events. don’t think except for… went to FinCon. FinCon, yes. But that one’s more like You went with Jen too. Correct. Yeah. And you’re right. This year I started out going, okay, I think I’m over it. I’m prepared to work and I’m back to my normal production. But you’re right.

27:32
Maybe it was like a trauma, but it shouldn’t be a trauma because I mean, feel like the way I worked those first three months is like your everyday life for you. So, yes, part of it is that it was a big shift for your schedule. But the other part of it was and I think this is what people when you are trying to reach that bestseller list, right? You basically feel like you’re selling your soul to get to that point, right? You’re making deals. dollars. Yes. No money.

28:01
It’s all about the bragging rights. But you know what I mean? You were making deals left and right. You kept feeling like you were indebted to all these people. And that’s what everybody who does it, but everyone feels this way. The things you were feeling were very normal because of the things that you have to do to make the list. Let me just tell you this. So prior to the book, I had podcast sponsors always sponsoring my podcast. And oftentimes to get sponsors for the podcast, it’s a lot of talking.

28:28
You have to do outreach, you have to negotiate and that sort of thing. And to promote my book, you I had companies do bulk buys and I promised them slots. And as soon as I got through all the slots in May, I actually stopped even soliciting sponsors. I know. Like I do not want to talk about, I don’t want to negotiate any sort of sponsorship ever again. I mean, I do it for Seller Summit, but a lot of those clients are ones who sponsored the event before. Like we have a…

28:58
I mean, almost all of them are repeat sponsors. Yeah. Yeah. But for podcasts, for some reason, it’s it involves more talking. So that’s why I have not had a sponsor for the past seven months, just because I don’t even want to deal with it. If there was like a push button that said, sponsor, hit this button, include your read. And that was it. Maybe I would consider doing it again. Yeah, we’ll get back into it, especially now that like I have you on as a segment to. Yeah.

29:26
Maybe later this year I’ll try to get more sponsors. But yeah, so anyway, all this leading back to the whole being busy thing, it’s the okay coping mechanism, right? Because you’re, oh, you’re so productive. Oh, look at all the things that you’ve accomplished. You get stuff done. And really it’s just another way to keep yourself from having to deal with other things. caveat, caveat. If you are a person who has young children,

29:56
It is not a coping mechanism. That is your life right now. If you have little kids, your life is crazy. I don’t care what people say. Little children are hard. They take up all of your time. You’re tired all the time. There are points in your life where you are going to be more busy than others, right? I think about people that are just getting out of college and have their first job and they’re really trying to push that first job of like, is my entry into society and I wanna…

30:24
play the game, right? I want to level up and get promotions and jump from companies, whatever it is. You know, there’s definitely seasons of your life where things are busy and it’s legitimate, but you shouldn’t be this busy all the time for 35 years. You know what’s funny about that period when I was launching my book? I actually shocked myself how productive I could be because it’s all a mindset thing, right? Yes. Yes, is. if you know that you’re going to have to work really hard, it’s actually not a big deal. Yeah.

30:53
It’s only when you’re like, oh, I need two days out of the week free. That’s when like every little thing becomes a big deal. So I actually enjoyed that period in a weird, messed up way, because I was, wow, I can accomplish so much stuff if I if I were really apply myself. But I think it was a little too much, too much to maintain for for a longer period of time. Well, it was a lot in that you were constantly having to have those conversations.

31:19
If it was just the amount of hours put in and you were doing it coding or creating a social media strategy, whatever, that would be it. That’s a different type of work than you were literally on the phone with people 24 seven. I was I was constantly on the phone doing podcast interviews. Yeah. Just just everything. And, know, I had to write the book. Had to edit the book. I read that thing like 25 times. I I remember once you’re like, this is the 24th. I was like, it’s not that good.

31:47
I can’t read it 24 times. It’s a two, it’s a two time read it most. No, it takes a while to read it, especially if you’re reading it for like content, you know, and flow. Yeah. Yeah. That’s funny. There’s a student in our class, Charles, I’ll give you a shout out. He was, he’s been trying to get me to write another book. Oh, that’s right. And he keeps sending me stuff like, Hey, this author writes a book every year. You don’t have to do every year, just every other year, you know,

32:16
And this book can really launch your business. I will say this, I think the book has helped because it’s like the gateway drug. Like people just start with the book because like the Kindle version I think is like eight bucks now. Yeah, something like that. A low cost entry point for people to just kind of get to know who I am. And then that leads them into other stuff. Yeah, so it’s been good. I didn’t know I didn’t know I hear him.

32:41
Talk to you about it on office hours, but I didn’t know this was a continual Did you see the email? So Tony is a part of my, she has a log in to my email, like for everything that comes into one place. I try to avoid it at all costs. Okay, so back to, in terms of your time and your week, how much time would you say is spent, know, dealing with your kids’ issues and whatnot versus the actual work itself? Is it about 50-50 or?

33:10
No, you think I spend 50 % of my work week dealing with my I don’t know. It seems like that sometimes. It’s just because there’s so many of them. I can just keep throwing names around. No, but this is the thing. And this is I love spending time with my kids. Period. Full stop. Like my kids are almost all of my kids, but one are adults now. And they are very fun to hang out with. Like I enjoy like if I had to choose people to hang out with, I would choose my kids.

33:36
But the difference is, is that I don’t have a lot of downtime because I have so many to choose from to hang out with. So just think about it. Like if you think about a weekend, right? Where it’s like, oh, I have nothing planned this weekend. I do things with two of my kids. Now I have plans for like both weekend days. You know what I mean? Cause my kids also, because they’re all adults, none of them have the same schedule. They all work different hours. So it’s not like, oh, let’s have a family dinner and everyone can show up because half the people are working. My kids, a lot of my kids are, you know, like…

34:05
restaurant workers and things like that. So they don’t have like a Monday through Friday. Actually none of my children have a Monday through Friday schedule. Okay, so it’s all odd hours. Yeah, they all work odd. I mean, my son-in-law is a pastor, right? So his day off is Monday because, know, pastors don’t get Sunday off. Right. You know, my daughter is a freelancer. So she works whenever, you know, her kids are in school or things like that. My other son’s a restaurant manager. You know, he works.

34:32
Like last week he had like Monday, Tuesday, Wednesday off and then he worked 15 hour shifts Thursday, Friday, Saturday, you know, so it’s just it’s crazy what they what they work and I’ve got two still in school one in college, you know, just a lot of stuff going on. So that what I realized is that I don’t have a lot of time where it’s just me because I want to spend time with them. And but because there’s a lot of them that does take up a lot of like the what you call me time. Yeah.

35:01
And there’s always I feel like emergencies in your day where you have to take one of your kids to like, I don’t know, the doctors or something. Yes, that’s obviously lessened now that they can all now that I can only take one doctor. All but one can drive. But yeah, but all to say like, but I still enjoy the time that I get with them, because now that they’re all older, I realize that that time is very limited. Right. Like then they move out and they have their own families and, you know.

35:30
So to make this episode a little bit more constructive, let’s just kind of list off some of the things that we talked about. So you have a menial task list, and you also have a deep work list. you ever find that it’s only the menial task stuff that’s getting checked off? No, because I wasn’t good with them. would, no, I will drop the menial task stuff before I drop the deep work. OK. OK. I guess that maybe that’s something I should do to have the menial, like it’s all mixed in.

35:59
With me right now one thing that I was expecting you to talk about that you didn’t was you started using the pomodoro? Yes, yes, actually I want it. Can I just talk about my mornings? Sure, because I shifted my mornings. I Don’t want to say at the beginning of the year because that sounds like a New Year’s resolution. It really wasn’t It’s okay to have a new year’s resolution. Well, I was it I was out of the country on New Year’s so okay I didn’t have any time for resolutions and I don’t

36:27
I don’t know if this is going to apply to everybody, but if you are a female and you are 45 and up, I will tell you that at some point everything in your brain is going to turn into mashed potatoes and it’s going to be foggy. You’re going to feel like garbage. Everyone I know that’s in that age bracket is experiencing some sort of feeling like this. And that’s not the type of podcast that you run. So I don’t want to go into detail. A large amount of people are women over age of 35, not 40.

36:52
And as someone like me who as Steve says is always like go go go go go always has a million projects going on the brain fog and the feeling like not my normal self and not having energy was like devastating to me like I would say I was even in some level of depression of just feeling like I can’t remember stuff I can’t get stuff done I would stare at my computer it was the weirdest thing because I’ve never experienced anything like this before and you know I’ve been like

37:20
trying to figure out how to fix it, right? Because we’re fixers. And I stumbled, you I’ve been reading and all the stuff. And so I stumbled across this thing and I was like, OK, I need to change my morning routine because I have I had a decent morning routine before, but I was also I feel like I’m productive. So it’s like, well, you know, if I don’t want to get out of bed at this exact time, like what does it matter for 30 minutes or, you know, and I just kind of like let things slide.

37:45
And I know not everybody’s a morning person, but I will tell you this morning routine has literally changed my life. And I hate when people say that. So I’m always like, eh, but here’s what I do. I have no phone, no computer, no tablet. When I wake up, nothing. I used to wake up, turn off my alarm, grab my phone, check, whatever it was, right? Text, email, do not touch my phone. That has been a game changer. I think people like, oh, I don’t really get on my phone. Yes, you do. Everybody does.

38:15
I’ve never, I’ve shared hotel rooms with a lot of people. I’ve never seen anyone not do it. I turn off my alarm. have, I think I talked to this before. I have my workout clothes and my shoes hanging on my treadmill. I literally put the clothes on and get on the treadmill and my treadmill overlooks the window. So I open up the curtains and like let it’s kind of the sun’s like rising at the time. So I have sunlight coming in, get on the treadmill, whatever time you can do. I started out at like 25 minutes.

38:43
I tried to increase it like every couple days. Most days I get- this your desk treadmill or a regular No, this is like a full on regular treadmill. Okay, got it. I would do this outside if I could, but I have bears in my neighborhood. I get on the treadmill for 30 to 45 minutes. I do like a very fast walk. So like a four mile an hour walk. And I get my phone and I listen to a podcast. I don’t listen to music. I don’t watch a show.

39:09
And I think that’s the other game changer. And I listen to podcasts that are very intentional. my, what I would wanna listen to is like true crime. But I try to like cue up podcasts that I know are going to help motivate me throughout the day. Whether it’s something that I can learn like marketing wise, something health wise that I can listen to. So I try to, and I also have some walking.

39:32
Basically walking podcast, so basically they walk to a beat, they talk to a beat that keeps you on cadence so you can keep up your speed. That would be great if you were outside, right, and you can’t track it on the treadmill. As soon as I do that, I get off the treadmill and I go sit outside for five minutes. Just sit in the sun. And I know not everybody lives in Florida where it’s sunny a lot in the morning, but even if you live in a place where it’s cloudy, this actually works. It helps your circadian rhythm. And so,

40:00
I thought that someone, my doctor told me this like six months ago and I was like, that’s the dumbest thing I’ve ever heard. You think me sitting outside for five minutes is gonna revolutionize how I feel? I was an idiot. Been a game changer. So if it rains, do you still sit out in the I’ll just sit right by the window. Okay. Once again, no phone. Do not look at my phone. I sit there in complete silence.

40:25
sit there for a couple of minutes, and then I put on, once again, something that I would have never done six months ago, a five minute morning meditation. If you Google five minute morning meditation on YouTube or you search on YouTube, it’s the top one that comes up. And it’s literally five minutes of, I don’t even know what they say on it, honestly, but it basically just like relaxes you and gets you, like it takes all the noise out of your head.

40:50
And I would have told you six months ago, I can’t meditate, I’m always thinking about things, my mind never shuts off, you can do it, I promise you. I sit there for five minutes, listen to the morning meditation, and then my day starts. So usually I’m all sweaty from the treadmill, so that’s way too much information, but then I go like pick up my bedroom, whatever, a couple little things, jump in the shower, go downstairs, start my day. The other thing I stop doing is eating breakfast.

41:16
Once again, you know I’m a breakfast person. Like if I don’t have breakfast, I’m an evil witch. And I started reading that like if you can extend the hours between when you eat at night and when you eat in the morning, it is going to give you a better day. Baloney is what I thought because I’m like, I need to eat at eight o’clock in the morning. If I don’t eat my eggs and spinach at eight o’clock in the morning, I am a terrible person. Now I eat at like 10, 30, 11, which also becomes my first break in my day.

41:43
Right? Because I’ve gotten up, I’ve gotten ready. I go to my computer. I’m highly productive in the mornings. So I have this like two, two and a half hours stretch of just massive productivity. And then I’m like, OK, time to go eat. And I don’t I don’t push it. I eat when I feel hungry. So if some days it’s 945, some days it’s 11. Right. I’m not, you know, strict about it. And I’ve been doing this religiously for the past 45 days. Actually, 46. That’s like my 46 day. And the effects?

42:12
I feel like a different person, 100 % different. Like my to-do list is getting done every day, my big projects are getting knocked off, I have so much energy, I have so much clarity, and I think because I’m working faster, because I don’t feel that fogginess anymore, I’m lessened my caffeine intake, so all these changes. And then, I mean, I’m able to sometimes in my day at like four.

42:40
Right, because I don’t really have anything else to do that I want to start that day. Right, there’s obviously stuff that always needs to be done, but it’s like, okay, this is a good stopping point for my day. The other thing that I started doing was no phone before I go to bed, which everyone tells you to do. No one does it. I can never do that, yeah. I don’t do it. And if I have a day, like I had a day yesterday where I just had like thousand things that I had to do. You know, I was like, I got to get off this webinar because I got to paint my laundry room. Yeah. So I’m like painting my laundry room.

43:09
And when I got in bed, it was like 930 and I was like, I could just feel the day, right? Like you could just, and I was like, I got a ton done, right? I was like, I had all these appointments. I still worked. I painted my laundry room. I cleaned stuff up, but it just felt like I could feel it in my shoulders almost. And so I put on like a five minute, like evening meditation. Didn’t pick up my phone the rest of the night. Like just call me down and like, it’s crazy. Cause I would have told you like meditation is kind of a joke.

43:38
But I really don’t think it is and the reason why I think it works is it forces you to just

43:45
clear all the garbage out of your mind and stop, because usually I’m thinking about everything that needs to happen for the next three days, right? And all the things that need to go. And at the end of it, I haven’t thought about all of that for five minutes. And even five minutes of not having your mind race is very effective. So I’m not saying you have to have my exact schedule, but I will say it has been an absolute game changer. I even had labs done, like blood work done, and my labs have improved.

44:14
in the past 60 days. And I haven’t changed my diet. I didn’t give up alcohol. Like I didn’t make any other changes other than my morning routine.

44:26
Now I was listening to your morning routine. I have a very tight window of productivity, which is from when I wake up till about noon. If I were to do that exercise, which I think is valuable in the time out in the sun, that would probably eliminate maybe an hour out of my productivity time. Which is why I stopped doing it like a year and a half ago. I was like, I need, I’m a morning person. I need to get up and get on my computer. Right. So this has actually increased your productivity for while sacrificing maybe like an hour.

44:56
But I’m not because I’m far more productive. Because before I started doing this at two o’clock, I felt like I could have gone to sleep for the day. I was absolutely exhausted at 2 p.m. Now, like everybody gets a lull in the afternoon, I think, unless you’re a night person. Like I have the little lull, but within I usually get up, walk around my house, just do a couple of things. I go stand outside, whatever it takes. Within 10 minutes, I’ve like reset back. You know, like a year ago on office hours, I was like yawning.

45:25
Yeah, I could not even stay awake on like, and it wasn’t because I wasn’t getting sleep or anything like that. It was just like my body was like, yeah, no, we’re done. And I don’t have that anymore. OK, maybe I will suggest this for Jen, because she’s always very low energy. You guys are about the same age. Don’t say that to her. She’s she’s much younger than me. Yeah, I would never say that. Maybe it’s just different for men and women, too. I have not really experienced any energy changes. Yes, because your hormones are not.

45:55
at the circus right now. I’m losing my hair. That’s a different story. yeah. I will say, though, you know, you have to do what works for you. But if I would say if you’re in a productivity rut or you feel like things aren’t how they used to be for you, like do something radical that you wouldn’t have done before. Like, you know me, I would have never done meditation. Yes, absolutely not. And now I.

46:22
And even like this is how much I like it. If I’m like super stressed out in the middle of the day, like if just stuff is hitting the fan, I’m like, excuse me, five minutes, headphones on. I take five minutes and just completely reset and then get back into it. And my, it just, my mindset is different.

46:45
Hope you enjoy that episode. Now, Toni’s time and workload is like way more than the average person and hopefully her tips helped. For more information about this episode, go to mywebquitterjob.com slash episode 523. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go over to sellersummit.com. And if you are interested in starting your own e-commerce store,

47:15
Head on over to mywifecluderjob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

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522: Is Selling On Amazon FBA Worth It In 2024? Here’s The UGLY Truth

Is Selling On Amazon FBA Worth It In 2024? Here's The UGLY Truth

In this episode, I outline all of the major changes that Amazon has made recently and provide you with my assessment on whether selling on Amazon FBA is worth your time.

Tools Mentioned
Sellerboard (Get 2 months free)
Getida (Get $400 in free reimbursements)

What You’ll Learn

  • The new Amazon fees
  • The ugly truth about Amazon FBA
  • How to succeed with Amazon

Sponsors

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Transcript

00:00
You’re listening to the My Wife Quarter Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Today, I’m going to do a solo episode to give you my take on whether selling on Amazon is worth it in 2024. But before we begin, I want to let you know that tickets for the 2024 Seller Summit are now on sale over at sellersummit.com. The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online.

00:28
And unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based event where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business, entrepreneurs who are importing large quantities of physical goods, and not some high-level guys who are overseeing their companies at 50,000 feet. Now, I personally hate large events, so the Seller Summit is always small and intimate. Every year, we cut off ticket sales at around 200 people,

00:56
So tickets sell out fast and we’ve sold out every single year for the past eight years. Now, if you’re an e-commerce entrepreneur making over 250K or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The Seller Summit is going to be held in Fort Lauderdale, Florida from May 14th to May 16th and ticket prices are going up every two weeks from here on out. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s available on Amazon at 50 % off right now.

01:25
My book will teach you how to achieve financial freedom by starting a business that does not require you to work yourself to death. Plus, you can still grab my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube and podcasting when you grab the book over at mywifequitterjob.com slash book. So go over to mywifequitterjob.com slash book, fill out the form and I’ll send you the bonuses right away. Now onto the show.

01:55
Welcome to the MyWebCoderJob podcast. And the question I’m going to answer today is, is selling on Amazon worth it this year? I’ll outline all the major changes that Amazon has made recently and provide you with my assessment on whether selling on Amazon FBA is worth your time. Now, if I were recurring this episode just a couple of years ago, you’d probably get a completely different answer from me. And the truth is that Amazon has changed pretty dramatically in just the past year. First off, Amazon just rolled out their biggest and most complex fee increase ever.

02:25
and I’ll just spend a couple of minutes summarizing it for you. Now the biggest change is that Amazon is now gonna charge you a placement or a receiving fee on a per item basis. This is a completely brand new fee that has been added in addition to the fees that you’ve paid in the past. Now for standard size items, this fee is gonna range from 21 cents to 68 cents per item, and for oversized goods, it will range from $2.16 to six bucks. And again,

02:50
This fee is charged on a per item basis in addition to your standard Amazon FBA fees and Amazon’s referral fee of 15%. Now to compensate for this new fee increase, Amazon is lowering the FBA fee on most items, but not by much. On average, they’ve reduced fees by about 19 cents for standard size items and all told, you’re going to be paying more money in fees. But perhaps the most egregious new fee that Amazon just introduced is a low inventory surcharge.

03:20
Now this fee applies if you consistently carry low inventory levels of your products relative to your unit sales. Now it’s one thing to get charged if you have too much inventory in Amazon’s warehouse, but now you’re going to get jacked if you have too little inventory at Amazon as well. And here’s how the fee works. Let’s say you typically sell 1,000 units per month and you let your inventory levels slip to just 500 units in stock. Well, this means that you’re going to get charged a fee for those 500 units

03:48
because Amazon wants you to have at least a thousand units in stock. Now their explanation for the fee is that it allows Amazon to place your inventory closer to customers across their network, but I think it’s a BS fee. I don’t know a better way to say this, but this new fee is ridiculous. Not only do you have to worry about sending too much inventory in, but now you have to worry about sending in too little as well. And I’ve been running my own warehouse for over 16 years and maintaining accurate inventory levels across all products

04:17
is extremely challenging and now you’re going to be penalized for it. Now, normally Amazon’s fee increases are pretty standard across the board, but for Amazon, these new fees are especially egregious because they are impossible to calculate. Amazon can literally charge you anything, anytime it wants, because calculating your historical demand is pretty difficult or next to impossible. Now, Amazon has already been known in the past to make mistakes with excess fees, but this new low inventory fee will be difficult to dispute

04:47
because the data is not readily available on how it’s calculated. In addition to these new fees, Amazon advertising costs have continued to increase. Now, technically, Amazon advertising is run by an auction and is driven by supply and demand, but if you’ve ever run a sponsored product ad before, you know that it’s essentially a black box, and Amazon has been accused in the past of doing things to artificially inflate the cost per click. For example, every time I add a new keyword to bid on my ads, I find that Amazon suggested bid

05:17
is really high or inflated. And according to AdBadger, there have been consistent PPC fee increases since 2021. Back in 2020, the average cost per click was just 71 cents, but today it’s as high as 97 cents. And this year, it’s predicted to increase even more. So in terms of the cost to sell on Amazon, advertising fees are going up and Amazon FBA fees are going up dramatically as well. In order to sell profitably on Amazon this year, you really have to know what you’re doing.

05:45
and all these fees will weed out the casual Amazon seller. Now that’s not to say that you can’t make money on Amazon, but you really have to keep track of your profit and loss. Now if you’re currently selling on Amazon and you’re listening to this, you must use Amazon accounting software like Sellerboard. Amazon’s great at hiding and disguising your fees, and you can really only understand your true profit with paid software, which incidentally is another thing I find ridiculous about Amazon. Amazon should provide you with the tools to do the proper accounting

06:14
and make it easier for you without having to pay for a third party tool. Now the other reason it’s getting harder to sell on Amazon this year is because sites like Tmoo and Shien are hurting Amazon sales. Now for those of you who are unfamiliar with Tmoo, you can watch a video on my YouTube channel. But basically, Tmoo is a marketplace that sells products online that are shipped direct from Chinese factories. Now even though the customer service is poor and the products aren’t the best quality, they can be 10x cheaper than the prices on Amazon.

06:44
Plus you get free shipping from China and the product will arrive at your doorstep within seven to 15 business days. Now I actually took the time to look on Amazon and I found a number of products sold on Amazon that had the exact same offering on Tmoo. And just to give you an idea of what the prices are like, there’s this bath floor mat that I saw for $46 on Amazon and the exact same mat was on Tmoo for just a buck seven. It’s the exact same product being sold for 40X cheaper and sure,

07:13
You can get two day prime shipping from Amazon, but I would probably wait two weeks to save 40 bucks. Stuff like this is happening all over Amazon right now. The same exact unbranded products are being sold on Amazon and Tmoo and people are catching on. My colleagues and I attend many e-commerce conferences every year and I’ve been told that Amazon sales, especially in the apparel market, are down 30 % year over year on Amazon. Now my key takeaway here is that you can’t really just source something from China.

07:41
and throw it up on Amazon anymore to make money. You have to create a brand around your product and have a unique value proposition in order to succeed. You also need to have your own branded website and collect your customers’ information so that you can sell more to your existing customers. And this is something I’ve been preaching for the past five years. Now here are some other things that you have to consider before you start selling on Amazon as well. And perhaps the biggest hidden cost on Amazon is refunds. Amazon makes it ridiculously easy for someone to make a return

08:11
So the average return rate is 12%. For electronics, it’s 15 to 20%. And for high fashion apparel, it’s as high as 35%. Now, if you’ve ever seen a guru on YouTube or Instagram post their revenue numbers online, well, the truth is, is that those numbers are always inflated big time. And here’s why. Whenever you make a sale on Amazon, your revenue number goes up in Seller Central. But when you get a refund or a return, Seller Central does not decrease your revenue.

08:40
Amazon does this on purpose to make you think you’re making all this money when in fact up to 35 % can be refunded. And return costs are dangerous for most sellers as well because it’s not always clear how to account for returns accurately in your spreadsheets. And here’s the ugly truth about refunds and how they work. When a customer places an order, these are your costs. You pay a referral fee, which is Amazon’s commission for the sale, an FBA fee, which is a flat shipping fee per unit based on the size and the weight of the product,

09:09
and the cost of goods, is the amount you pay for a product. But here’s what happens when a customer applies for a refund. First off, Amazon immediately reimburses the total price of the product to the customer before they even return it. But not only that, they also charge you a fee for return costs. To make matters worse, you do not get your FBA fulfillment fee back. That’s gone forever. Now, once again, the actual cost of a refund to your bottom line is nearly impossible to calculate correctly unless you’re using third-party software to track it.

09:39
So those gurus with their seven figure Amazon income reports just slash it by 20 and 30 % right off the bat. Because Amazon makes it so easy for a customer to make a return, you will experience a much higher return rate selling on Amazon as opposed to your own online store. Also, you have to keep in mind that more often than not, your product will come back as unsellable. One year, an Amazon customer purchased many dozen napkins from us, used them for a party, it was obvious, and then returned the soiled napkins for a full refund.

10:09
Well, guess what? We had to eat the Amazon closing fee, the Amazon FBA fee, and the cost of goods since they could not be resold. As a result, if you sell a highly returned product like clothing on Amazon, you must take into account the return rate into your calculations. As your products are returned, you must track each SKU’s return rate and also the write-offs related to inventory and closing fees. So, so far, we’ve established that Amazon’s fees have gone up and they are facing lots of competition with China. But just because they’re charging you more,

10:38
doesn’t mean that they’re doing a better job handling your inventory. And the biggest downside to selling on Amazon is that they screw up very often, and unless you are paying attention, you will lose money. And what sucks about selling on Amazon FBA is that every now and then, Amazon mysteriously loses your shipment. Sometimes parts of your shipment gets damaged on the way to the fulfillment center. Sometimes Amazon just loses your products. And even though Amazon will reimburse you for lost product, you have to be the one to point out a lost shipment because Amazon won’t tell you by default.

11:08
One time, Amazon lost several boxes of our goods and we were reimbursed for the inventory. However, three months later, they miraculously found our goods and then promptly deducted the reimbursement from our account. Meanwhile, we lost three months worth of sales and had nothing to show for it. So overall, you have to watch Amazon like a hawk and you always have to check and double check that the quantity received at Amazon matches the quantity that was sent. Now, fortunately, there’s software to help you with this called Getida.

11:35
Getita tracks your inventory for you and automatically files claims. And you can use a link in the show notes to get $400 in free reimbursements. But the fact that you need to use a service like this, in my eyes, is ridiculous. And then finally, the level of malicious activity hasn’t gone down much either. Despite Amazon’s best efforts, people are still getting hijacked and knocked off on Amazon. And I don’t really see that going down that much more this year. So given all these developments, is selling on Amazon FBA worth it? Well, if you asked me that last year,

12:05
or the year before, I would have said 100%, but today, I’m still gonna say 100%, but with some important caveats. With these new fees and competition from China, you can’t really just dip your toes into Amazon’s waters anymore. You pretty much have to go all in and learn the ropes in order to be profitable. You have to maintain your inventory at precise levels to not get penalized by Amazon. You have to be on the lookout for mistakes that Amazon makes with your inventory. And you have to be on the lookout for malicious sellers attacking your listings

12:34
and you have to account for refunds in your profit calculations. Now this sounds like a lot, but Amazon FBA is still 100 % worth it because of the Prime badge. You can’t beat free two-day shipping, and it’s a huge value add for customers. Plus, Amazon still owns over 50 % of e-commerce, so it’s a necessary evil. But please, work on your own website, and stop selling me-too products. As the e-commerce landscape shifts even further, it will become even more important to build a brand

13:03
and own your own customer contact list. Hope you enjoyed that episode. Now, if you’re thinking about selling on Amazon this year, make sure you familiarize yourself with all the new fees and go all in. More information about this episode, go to mywebcoderjob.com slash episode 522. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event.

13:32
go over to sellersummit.com. And if you are interested in starting your own eCommerce store, head on over to mywifecoderjob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

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Ready To Get Serious About Starting An Online Business?


If you are really considering starting your own online business, then you have to check out my free mini course on How To Create A Niche Online Store In 5 Easy Steps.

In this 6 day mini course, I reveal the steps that my wife and I took to earn 100 thousand dollars in the span of just a year. Best of all, it's absolutely free!

521: How Running A Simple Challenge Can Explode Your Brand’s Popularity With Toni Herrbach

How Running A Simple Challenge Can Explode Your Brand’s Popularity

Welcome to a brand new segment of the show called Profitable Audience where my business partner Toni and I discuss all things related to content creation and building an audience.

In today’s episode, we are going to cover challenges, and specifically, how to run a challenge that eventually leads to selling a paid product.

What You’ll Learn

  • Why challenges are so powerful
  • How to run a challenge for your product
  • How to increase your brand’s popularity

Sponsors

SellersSummit.com – The Sellers Summit is the ecommerce conference that I’ve run for the past 8 years. It’s small and intimate and you’ll learn a ton! Click Here To Grab Your Ticket.

The Family First Entrepreneur – Purchase my Wall Street Journal Bestselling book and receive $690 in free bonuses! Click here to redeem the bonuses

Transcript

00:00
You’re listening to the My Wife Quarter Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Welcome to a new segment of the show called Profitable Audience, where my business partner, Tony and I discuss all things related to content creation and building an audience. And in this episode, Tony and I are going to discuss how to run a challenge to grow your brand and sell your products.

00:23
Before we begin, want to you know that tickets for the 2024 Seller Summit are now on sale over at Sellersummit.com and tickets go up in price this Friday. The Seller Summit is an e-conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online. And unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based conference where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business.

00:53
entrepreneurs who are importing large quantities of physical goods, and not some high-level guys who are overseeing their companies at 50,000 feet. Now, I personally hate large events, so the seller summit is always small and intimate. Every year, we cut off ticket sales at around 200 people, so tickets sell out fast, and we’ve sold out every single year for the past eight years. Now, if you’re an e-commerce entrepreneur making over 250k or $1 million per year, we also offer an exclusive mastermind experience with other top sellers.

01:21
The Seller Summit is going to be held in Fort Lauderdale, from May 14th to May 16th. And right now, the tickets are going to go up in price this Friday. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 50 % off right now. My book will teach you how to achieve financial freedom by starting a business that does not require you to work yourself to death. Plus, you can still grab my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube and podcasting.

01:51
when you grab the book over at mywifequitterjob.com slash book. So go over to mywifequitterjob.com slash book, fill out the form and I’ll send you the bonuses right away. Now onto the show.

02:07
Welcome to the My Wife Quitter Job podcast. This is a new segment called Profitable Audience, where I have my business partner, Tony, chat about content related topics. And what we are going to cover today are challenges and specifically how to run a challenge that eventually leads to some sort of paid product. Yeah. Or a sale of a physical product too, right? It could be anything. In fact, I think one of our Seller Summit speakers didn’t, Alicia.

02:38
run challenges to her water, sell her water bottles. Is that my remembering that correctly? That’s correct. She sold water bottles that were just about the hardest things that you can sell. Yeah. Really. And she turned that into an eight figure business before she sold it based on the back of these challenges. Yeah. So I wanted to talk about this today because I just went through, it’s interesting as people who work in content and commerce,

03:05
I tend to take other people’s courses or sign up for their lead magnets or participate in challenges, partially for myself, but then partially just to see the logistics of how they run a challenge because I think there’s just so many new and innovative things that you can do. And so just within the past three days, I finished Amy Porterfield’s list building challenge and Shalene Johnson’s…

03:31
I don’t even know what her challenge was called. It was like a walking challenge. So the goal was to get more steps each day than you did the next day. OK. That’s pretty easy because I’ve been getting none. Yeah. I go from 0 to 15. So as you, we’ve talked about this offline, Shaleen has sort of rebranded herself as like a middle-aged aging expert.

03:55
talking about diet, exercise, hormones, things like that, all targeted to women ages like 40 to probably 60 years old. And that’s her core. And so this, think, was a big part of her rebranding is holding this walking challenge and then moving people into her paid, I don’t know if it’s a course or a product or I’m not really quite sure what Is a paid walking? Yes, yes. You pay Shalene and you have to walk.

04:22
Let’s start with the list building one with Amy Porterfield. think most people are probably familiar with her. You’ve had her on the podcast. I will say her work is flawless. Everything about her stuff is perfection, correct? The landing pages are beautiful. The slides are beautiful. Very well intentioned. No I undotted, no T uncrossed. Kudos to her for really creating quality

04:51
content that’s free. And so she did a list building challenge, which is very similar to the webinars that we give for profitable audience that you give for profitable online store. Hers was solely focused on email list building. And she basically, you signed up for the challenge, but it wasn’t free. It was actually $37. And I think we talked about this a long time ago, but you she had the $37 webinar.

05:18
And then there was the upsell to the $99 VIP where then after the webinar, she stayed on and answered questions to the people who bought the VIP pass. I have done that before. Yes. We’ve tried it based on her. did gate one of the workshops once if you bought my book. Yes, I remember And I hated every minute of it. I don’t know. just didn’t. So basically it

05:45
I want to say it halved my sign-ups. Maybe even more than that. But you didn’t get paid because it was about the book, so it’s a little bit different. They had to pay to get in, right? The book at the time, I think, had to be the hardback because I was trying to Yes, it was $27 or something like that. Exactly. So, $27.37 is about the same. Either way, a lot of people weren’t even willing to buy the book. I would say just for people listening,

06:12
This is not a great strategy if you don’t have a big list. You’ll have a hard time selling a $37 webinar. If you have a Amy Porterfield sized list or a huge following on social media, YouTube, TikTok, I would say this is something to explore. But if you are just getting started out, I would not start with paid. You know, I was thinking about it though. If you’re not willing to spend 27 bucks to get my book, chances are you’re not going to get the class, right?

06:41
Yes, absolutely. It’s that first barrier, right? You’re weeding out, because we get this sometimes on our webinars where there’s people that like, just go read a couple articles before you watch this, right? Because you have no idea what you’re talking about. Educate yourself a tiny bit. So it does sort of weed out some of the really hard people to deal with on the webinars. However, if you don’t have any social proof of your products or your services, I do think starting out with paid is a tough sell for people.

07:09
Yes, I agree. On the flip side too, I’ve noticed that people sometimes go to eight or 10 of my workshops before they sign on. Yes. There’s a trust factor. Okay, so she always goes paid or? I don’t know if she always goes paid. I was like, you know what? I’m just going to pay the $37 because I really just want to see how she’s running the webinars. I will say she has a completely different style than we do.

07:36
which is fine because I think you need to do the style that works best for you. Her style is clearly far more polished than we are. There’s not a lot of joking. There’s not a lot of interaction with the audience, whereas we are very interactive with the people that come live to our webinars. It’s not that she’s not interactive. It’s just not anywhere like what we do or I’ve seen other people do, but it works for her.

08:01
I’ve attended hers before. I almost feel like the questions, like she’s not answering anyone in the audience. She has these pre-fed questions that she has answers to. She’s like a presidential candidate. Right. Yes. Yes. That’s the best way to describe it. However, she is delivering a lot of value. So I think,

08:21
We always have people say, I don’t know what to do. I don’t know how to run a webinar. I’m not sure how I should, should I stop in the middle and take questions, all these different things. You have to do what works best. And if what works best for you is having a set of pre-written questions that you know people, we know what people ask. People ask the same thing every webinar. If that’s what makes you more comfortable or you think sells your webinar better, then do it that way. I don’t think there’s a right or wrong.

08:45
What I did think was interesting that she did was the webinar was a series of, I think, four days, three or four days of lessons. She ran them at noon every day, noon Eastern. I always find that interesting, the time of day that you’re running webinars. Before the webinar, she did a mindset training each day before the webinar. I see your face. Did you go to these? I did not.

09:14
Oh, you didn’t go to the- I wanted to go to Curious. I know. I could barely attend the webinars because it’s at noon. It’s like a terrible time for me. I watched them after the fact. Oh, you did? Okay. I did. Okay. Okay. You and I both, I don’t know, I’m buying far more into the mindset thing than you are. However- That’s not true, actually. After doing the millionth consult, we hardly ever even talk about the specifics.

09:44
of any business, we’re all just convincing them that they can do it and that they can be successful. Right? Anyway, so I actually thought this was very valuable because most of the time when you are trying to convince people to buy a product at the end, whether it product, service, membership, course, water bottle, whatever it is, there’s a financial hurdle.

10:11
That’s the one, obviously there’s people that either have money or they don’t to buy it. But the other big hurdle is, do they have the mindset where they’re willing to take that money from one thing and put it into your thing? Are they confident enough? Do they believe in themselves enough? Do they think they have the ability, the talent, the technical knowledge, whatever it is that’s holding them back?

10:34
95 % of the time people don’t take action because they don’t have confidence in themselves to do whatever it is you’re asking them to do. That is 100 % correct. Actually, that is the topic of almost every single one-on-one consult that I’ve ever done. Yeah. So I think the mindset training was actually pretty genius because you’re basically handling all the objections.

10:59
by getting people into the right headspace before, and the mindset training was right before the webinar, right? So was mindset training first, 15 minutes, and then the webinar was like 45 minutes after that, or it was like very much in sync. Wait, also on timeout, so if it was at noon, you said, Eastern time, so she just starts to set 11.45? I think the mindset was at 11. So it was kind of back to back, but the mindset was only a 15 minute thing. Interesting, so she went on live.

11:28
and then let people sit for 45 minutes. think so. I have to double check that one because I never made the live mindset. And I’m not sure that she actually ran every mindset. I think she had other people doing it as well. I also don’t think the mindset was necessarily live. I think it could have been something pre-recorded that people just watched. You know, what’s funny is I’ve had this content for a very long time. I know you didn’t attend any of the family first challenge, but

11:57
the very first two days of that challenge was all mindset. And I can’t believe I could talk that long about it, but I actually ended up talking for two hours about the subject and people loved it. Yeah, because that’s people’s almost always their biggest issue is getting over the mental hurdles. But for me, I was thinking to myself the whole time as I was giving it like,

12:24
Oh God, people are not going to like this challenge. There’s no actionable content in here whatsoever. It’s all about getting out of your own head. I guess that could be actionable, but people loved it. And I got so many questions about it and so many fluffy questions about it. You know, like, how did you get over, you know, getting started? How did you get over the fact that you didn’t know what you were doing? I was like, well,

12:51
I had YouTube, I had Google and just figured my way out through it. I actually think that was pretty genius to hold these little mindset seminars before she taught the webinar. She did it every day? Yes. Okay. You’re basically getting people in the right head space for your training. She did the three or four day webinar.

13:18
Actually, today is the last day to watch the replays, which is also very interesting because there’s a lot of people in the Facebook group who are complaining that they paid the $37 and that the webinar training is not available lifetime. Wow. Yes. Which we could do a whole episode on. I actually got in the rabbit hole the other night of reading people’s comments about being really, really upset that the training’s coming down.

13:48
You know, team Porterfield came in and basically said the whole point of this is to work. So then she, you know, she sells this list builder society where, you know, it’s, it’s the course it’s 497. You learn how to build your email list, uh, you know, get a lead magnet, all that stuff. And team Porterfield’s point is, you know, the point of the training was to get you to a certain point and then into the list builder society. So, you know, we have to take it down because this was meant to everyone do together.

14:18
This isn’t a self-paced thing. This is a group activity, basically. You should see how much flack I got when I hated the replays based on not buying the book. There’s like 45 plus comments on each in the thread of a comment. There’s a comment about it and then there’s 45 comments responding, mostly in agreement of upset-edness that these aren’t available.

14:45
I think the problem is, and I bought the $37, I don’t remember seeing anywhere that they would be taken down on February 21st, which is when we’re recording. Now, I’m sure it was on there somewhere, but it was not clear, right? It was not bolded. It was probably buried at the bottom. And so I think that’s where they made the mistake because the general perception in this group of people who are disgruntled, let’s just say, is…

15:14
We had no idea there was a time.

15:17
Interesting. How did they respond? Basically, tough to do. This was a challenge for us to do together. You missed it. You missed it. This is the whole point of it was to do it together, work together, team-build, work as a team kind of thing, which I don’t know. I have mixed feelings about it. I think if you put it up at the top,

15:44
February 21st, you do not get access to these anymore. Obviously, that would dissuade people from signing up. Correct. It also keeps you from having a Facebook group that is now filled with people who are pretty irritated about the recordings coming down.

16:02
Is this how she always does it? I’ve taken one of her prior. I don’t know. And that’s what’s bothering me is I can’t remember it because I did another one of her paid things. Actually, I probably did this one. I probably did. 37 bucks. You don’t keep track. I don’t know. I feel like she’s always taken the recordings down, but I never would go back and look at them anyway because I did not take this because I don’t know how to build a list. I do know how to build a list. I more wanted to see, you know,

16:32
What do her sides look like? What’s she talking about? You know, just in general. So I feel like, so this is my overall synopsis of it. I feel like Amy Porterfield does an amazing job of putting very quality products out there, right? Everything is beautiful. There’s a lot of worksheets, free downloads, bonus things that you can get during the $37 challenge webinar, whatever you wanna call it. What I feel like is lacking,

17:00
is that there is very little technical implementation. I hate to say this, but I don’t think she knows how to, she has an implementer do everything for her. Sure, which is great. Which is great, but most people don’t have that. I don’t even have that. I’m the implementer. I don’t either, I’m the implementer. So I feel like that is her style. That’s always been her style.

17:29
So she was talking about creating a lead magnet. She recommends ConvertKit, which we recommend as well. And this is for content creators, not for e-commerce. And she was talking about creating a lead magnet. And she’s like, you can just create that landing page and your email service provider has landing page templates for you. That’s almost verbatim what she said. And I’m like, to someone who doesn’t know what a lead magnet is, and after they go through the webinar, they do understand that, that’s very overwhelming.

17:59
Like I’m just supposed to set up a page? How? Where do I go and convert kit? To me, there’s a lot of confusion. However, the positive it is, and we actually had a student and profitable audience come up with this, come to us with this the other day, is that we do a lot of technical inflammation. Like this is exactly how you do this. This is exactly how you do that. And then they change the interface. Bluehost changes the interface and they’re like, I can’t find the button. you’re like, cause it’s on the left now, not the right.

18:28
So I mean, that is the negative side of doing a lot of implementation, which we do, is that it becomes outdated. And then you’re in a whole bunch of weeds with people because they’re watching a video that’s not even that old, right? Six months to a year old, but because the service provider changes something, it doesn’t make as much sense to them.

18:49
I just wanted to take a moment to tell you about a free resource that Tony and I offer over at Profitable Audience that you may not be aware of. If you are interested in learning how to make money with content, whether it be through blogging, podcasting, or YouTube, we put together a comprehensive six-day mini course on how to get started blogging that you should all check out. It contains both video and text-based tutorials that go over the entire process, including a full tutorial on how to set up your first content website. This course is 100 % free.

19:16
and you can sign up over at profitableaudience.com slash free. Once again, that’s profitableaudience.com slash free. Now back to the show.

19:27
That’s always been a conflict with my class. What I do now is I actually explain what the button does. I say something like, hey, this button might not be here when you watch this video, but you know what it does and you know what to search for. You’re right. It’s much better to tell people exactly where to click because people are just mindlessly clicking sometimes. They’re just literally following.

19:54
So, but I think that’s a good thing to think about. If you’re thinking about doing any kind of a challenge, you have to decide what your audience level is and what you’re capable of confidently teaching. So I feel like for me, like right now in my life, like I could do a pretty in-depth teaching with Klaviyo with some of the implementations because I’m in it all every day. It feels like, you know, first grade reading to me. However,

20:20
Five years ago, I would not have felt comfortable. I could tell you what you needed to do and I could tell you why you needed to do it, but the actual steps, I’m fumbling around, right? So if you aren’t super confident with some of those implementation things, it’s okay to tell people to do it, why they need to do it and the reasons behind it. And that’s a perfectly fine way to give people information because the people that you’re talking to don’t even understand that part. They don’t even understand that that is…

20:47
something that you can do. In fact, I was talking to someone the other day just about setting up an automated price drop in Klaviyo where it’s basically all automated. But when you change the price of a product because it’s either clearancing or whatever it is, they get a notification automatically if they visited the product page. things like that. People don’t even know you can do that sometimes. So just giving people, educating them on the opportunities that they have.

21:13
is really valuable. if you can’t do the technical implication, it’s clearly not a hurdle. Amy Porterfield’s made a ton of money never telling anybody how to implement anything. Here’s my philosophy on that, too. If you give someone instructions step by step and they mindlessly do them without understanding what’s going on, then they might be able to get it to work in the beginning. But then something will change. And unless they’re struggling a little bit through it and figuring it out as they go along, they’re going to be stuck.

21:42
at every interface change. Yep. So that instantly is kind of how I raise my kids. Yeah, I don’t tell them the answers. I just say, just figure it out. If you know, you should be able to figure this out. It’s not rocket science. I wish you could see my desk right now. It’s literally on my computer. I have our recording page up. Every other page on this computer is mass. I have stacks of graph paper on my like literally.

22:11
What’s that for? My daughter’s math that she’s very much struggling in. She must be desperate. If you are in Orlando and you are a math tutor, hit me up. We can work something out. She asked me yesterday, she’s like, do we have graph paper? I was like, we’re not to choose. We don’t have graph paper laying around the house. What are you, crazy? My response to her was, of course we don’t have graph paper, print some off the internet.

22:38
She looks at me, she goes, print some off the internet. I was like, yes, do a search for graph paper, free printable. Her mind was blown. I’m thinking, I need to add that to my free printable collection. That is hilarious. Anyway, yes, teach them why they need to do something. She did the couple days of training. It was a very basic introduction to email marketing.

23:07
But people were very satisfied. Aside from the whole $37 debacle, people were very satisfied with the training. It looks like she’s converting fairly well on the list builder side. always converts very well. Then she converted people to this $497 course. You are right. If someone’s willing to pay $37 plus another 99, you’re probably going to shell out 500. You’re inching your way up into that price point.

23:36
So you mentioned VIP, right, for the 99 bucks? Yeah. I did the VIP, I would say, for four to six straight months. I can’t remember what it was. Where if you paid $99, you got another mini course and you got a group Zoom call at the end. And I remember going to Amy’s group Zoom call. I don’t think she answered anyone’s question from the audience. It was just another prepared. Interesting. Right? OK. Yeah.

24:07
Whereas the reason why I stopped doing those group Zoom calls was it got out of hand. Imagine like, don’t know, 150 to 200 people on Zoom. It is nuts. Even though I had people raise their hands, it was pretty uncontrollable. So I guess I could do it like Amy, just like another Q &A, but I already do Q &A at the end, but I guess this one would be more private. So I think that’s the other differentiator too, right? When we do our webinars,

24:36
We stay till the very end. We answer every single question as ridiculous as it might seem or as hard as it might seem. We try to give people an answer. Whereas I don’t think Amy does that at all. I don’t think she answers people’s questions or even like has those conversations after the teaching is over. I think the teaching is over, she signs off. And the fact that this is your chance to have access to her is the part that makes people think valuable and gets people to open up their wallet for the $99.

25:07
You know what a mastermind person just once told me, he was in my mastermind group. He was like, you have to be aloof and then you can add the dollar value. And I hated that statement. We’ve talked about this. I hate that statement too. Right? Like you’re personally, you’re purposely trying to like avoid being seen and avoid having people have access to you for the purposes of being able to charge more money. Yeah.

25:36
I don’t know. don’t like, get it. works. It is a hundred percent a tactic that works. It is not something that I feel comfortable doing.

25:48
Yeah. So you’re saying that not answering questions probably adds to the value. Right. someone to sign up for the VIP. Yeah. Because I know she does ask for questions in advance as well, which I also think there’s nothing wrong with that, right? If you are not great off the cuff or if that makes you nervous or that just gives you anxiety, some people do. Some people want that prepared list. Then have a prepared list.

26:13
There’s nothing wrong in doing that. And if it makes you feel more confident, especially on camera, then start with people submitting their questions in advance. I don’t think there’s anything wrong with that. That’s not how you and I operate because one, both of us are okay being wrong. And two, we’re okay saying, hey, we’re not quite sure, but let us figure that out for you. But not everybody is.

26:35
Not everybody feels OK doing that. Some people really feel like I need to know everything and tell people everything if they come on. And you and I are just like, hey, of course we don’t know everything. Nobody does. I always preface everything by saying, hey, take everything with a grain of salt. I have no idea what I’m talking about here. And then I say it. But you do. OK, so let’s contrast that to Shalene’s challenge. I just have this feeling that Shalene’s challenge would be something that I’m more in line

27:05
Of course. I think it just shows you that two completely different styles, both are effective. So, Shaleen’s challenge was all about, so she’s very much into zone two cardio right now. This isn’t a fitness podcast, we’re not going to go into all of those things, but basically brisk walking can get you into zone two cardio, which has been shown for people who especially are in those 40 to 60-year-old bracket for females.

27:32
is the of the cardio that you should be focusing on to maintain weight, health, everything. So you know I love her. I’m a huge fan. No shame in that. But I also feel like she’s a bit scatterbrained, right? She’ll send out links that are broken. She makes mistakes, which is very much part of her charm, right? The fact that you feel like, we would be best friends if we were neighbors, right? Which I feel like if Amy was my neighbor, I would literally never see her. She would park in the garage, you know?

28:02
That’s 100 % correct. She would take her garbage out at 10 PM so no one can talk to her. That’s just my impression. She’s probably a very nice person. I don’t know her personally. But Shaleen just has that like, we would be besties sitting on the back porch drinking our champagne. So her challenge was a two-week challenge, which I also think is another strategy. So you can do these shorter. You can do a one-day webinar. You can do a week-long webinar. We’ve experimented with anything from a day to a week.

28:31
Shalene had a two week challenge to basically increase the steps that you walk every day. And so with her challenge, it was totally free. And I wanna talk, don’t let me forget to talk about her verbiage that she used at the end of the challenge. Cause I think this was so impactful. So it was walk every day and each day you got an email in the morning with, so she had a kickoff call. the challenge started on Monday. She had a Sunday afternoon kickoff call where she talked about.

28:58
kind of the goals and why you should be doing this, but you were already signed up, so you didn’t really need to be sold on it. But it was a live Zoom. So interactive with her, feeling like you were, you know, basically a part of this community, which I think is very effective, right? But then you didn’t see her again for two weeks. You got an email every morning in your inbox with an audio recording. Oh, nice. Which I’m like, genius, you did all of this in December.

29:26
Right? Right. Although Shalene probably didn’t, but some people would do it in December. So every morning you got an auto recording on some topic that would be applicable to wanting to feel better in general. So one day it was about hormones. One day it was about improving your energy. One day it was about zone two cardio. One day it was just like a, let’s check in. Let’s do a mindset check. Here’s the other thing. Not every audio was from her.

29:55
So of the 14 days, the audio from her was probably six days and the other eight days or seven days were other people in the industry. Like there was someone that did a talk on like food, right? And how you eat and the types of food you eat. And that was someone who is a nutritionist. There was someone who talked about energy and she was a personal trainer, like, you know, the qualifications to talk about these things and also had a large social media presence. So all these people that talked,

30:24
and gave the recordings, not only were they certified experts, because we’re talking about health, so that’s important, but they also were, either had written a New York Times bestselling book, something like that. So they were people that if you hadn’t heard of, knew them personally, like if you didn’t know exactly who they were, you had heard of them. So not only that, she didn’t do all the work, right? She had people, you know, so each day you got this training in the morning of like basically a podcast to listen to, but it was about 15 minutes.

30:53
And then she also had things like, if you’re gonna take a 15 minute walk, here’s something that’s 15 minutes long to listen to, then here’s a 30 minute talk to listen to if you’re a 30 minute walk, 45 in an hour. But all of these came via email. So pretty smart because she got everyone’s email address to even get in the challenge, right? Okay, this is ingenious because it’s a walking challenge. So you’re literally supposed to listen to this stuff that she recorded as you’re walking? Yes. That’s smart. Yeah. Super smart, right? Yeah.

31:22
And each email was very personalized, right? It felt, you know, I don’t know if she wrote them or not, but it felt like it came from her. She included some menu plans. So if you wanted to also improve the food that you eat every day, she had two weeks of menu plans. And I think there was an option to pick from like a vegetarian and a non-vegetarian. So two different options for that. And they were decent meals. Like I printed out, I looked at the meal plans. They were good. You know, it wasn’t…

31:51
It wasn’t thrown together, all very well done, graphically, design-wise. Oh, OK. Yeah. So it wasn’t just like a Word document with a bunch of recipes on there, because it was a menu plan, a shopping list, things like that. All things you can create in Canva. So not out of reach of anybody. All right, so I’m curious how you can monetize a walking challenge. Oh, genius. Genius, right?

32:17
And the reality, so I did the challenge. was like, you know what? You know, I’ve been like fighting all these like energy and fatigue and stuff. And I was like, and I am, you know, a runner, but running has been so painful for me for like the last year that I’ve just kind of stopped. And I was like, you know what? I can walk. Like I walk anyway. So I was like, I’m going to do it. I’m just going to do the walking challenge. And so every single morning, I, the first thing I did, I have a TikTok about this actually that I’m going to post in April.

32:46
Yeah, I know you’re saving Cause I’m holding on to it. Every morning I got up and I literally kept my shoes and my workout clothes hanging on my treadmill. And I got up every morning and I got on the treadmill and I did 30 minutes on the treadmill every single morning. And I even did it when I was working. I did it at Kim’s house. Like I was very consistent about it. And so it was funny cause she had her like last, her zoom call last night was like the wrap up of the challenge.

33:15
And she’s like, I know not everybody was perfect. I was like, you know I was. I did, cause you what I I’m like, oh, don’t, don’t dare me. I’ll do it. So, but it’s crazy. Like, and just like, this is total side note, but like do it, getting up and walking at like a brisk pace for 30 minutes. And some mornings I did more, but 30 minutes was like my minimum. I have had more energy the past two weeks than I have had in two years. It’s nuts.

33:42
Like it’s completely shifted my metabolism. I don’t know how or why, but it’s ridiculous. And then I also like do the walking desk too. So then I would get the rest of my steps in front of my computer. But I made sure I started my morning and that they recommended that like they’re like, anytime is better than no time. But like, if you can do it first thing, that’s actually really effective. So she does her final, oh, sorry, go ahead. No, no, no, I was, I was going to say get to the monetization part.

34:09
Yes, anyway, side note, get up and walk for 30 minutes in the morning. So last night she has her Zoom call, the closing call, where basically it’s her telling everybody how proud she is of them. And she has, of course, all this social proof of people who have seen changes, whether it’s energy, weight loss, feeling better. Oh, sorry, is there a private Facebook group associated with this? No, she just tells people to message her on social media. Oh.

34:37
or reply to emails, but she’s got all the text, right? So just think about this. She did the kickoff Zoom call on day zero, and then she did the kickoff or the closing Zoom call on day 15. Everything else was pre-done. So like very little, like as the challenge is going work. And then during the call, she was basically like, if you’ve seen any change, right? If you felt better, if you enjoyed blah, blah, blah, join my Phase It Up community.

35:07
for $14.95 a month, you can get my exact workouts, all of the meal plans, all the mindset, podcast, everything, all done for you, or you can pay $99 for the year.

35:24
Genius, absolute genius, right? Because anybody who felt anything, right? Anybody who had any improvement over those two weeks is signing up. Because you’re like, well, if all I did was walk and I feel even a little bit better, what in the world would I get if I, because she provided so much free value with like the trainings and the certified people coming in and giving those mini podcasts in the morning. It was almost like people were running up to her to buy it.

35:55
So for $100 a year, that implies that she’s constantly adding new stuff or? See, don’t think she’s, I mean, I don’t think she’s really adding a whole lot of new stuff. Cause like once you have your workout set, like you don’t need to re-film that. Like once you create like 30 days of meal plans, you’re not coming up with 365 days of meal plans. Nobody makes that many meals. I guess what I’m asking is it’s recurring. It’s, so yeah, it’s $100 a year or $14.95 a month.

36:23
And so there’s, in that community, there’s new information’s obviously being added, new, it’s mostly audio trainings, right, or video, but there’s not, it’s not anything that, I don’t want, I’m not saying this in a negative way, it’s not anything that’s like, oh, this is gonna take me hours and hours and hours to create. It’s basically just, I think the biggest benefit to joining something like that would be the accountability. The accountability in the community? Yeah.

36:53
Essentially. It’s interesting. Yeah, and actually that’s, it sounds pretty cheap. $100 a year sounds like nothing. Oh, I signed up. I was like, a hundred bucks a year. want in and I want to see what you get for a hundred bucks a year. So I signed up, you get in, you immediately get a personalized, like it asks you like series of 10 questions. So there’s a quiz, right? And then you get personalized stuff based on the answers you gave to the quiz. But the amount of people,

37:21
that you saw on the comments, things like that, in her social media was insane of people who were just all in on this, right? Because it was something easy. so the two things that stood out to me was it’s not hard to walk. Most people can do it. You can walk around your block. if you, mean, like, Leon’s a perfect example. He lives in Iowa. He goes on walks every day. It could be five degrees. He goes on walks, right? You can walk anywhere you live, basically.

37:50
And so the success rate for that challenge was probably really high for people because it’s not that difficult to just get out and walk. If you have people motivating you, cheering you on, you have people to listen to in your headphones, things like that. The other thing that she said, which was I want to talk about from before, was I was thinking about Amy Porterfield and people just being irritated. Yep. So Shalene was like, I am so how did she word it?

38:18
She’s like, am so thankful that you could be our guest in this challenge, but we’d like you to become a member. You’re a guest in the free challenge, but you’re a member if you join the community.

38:33
Like I was like, oh, that was good. Like make a note of that, because I want to use that in something. But when you think about it, you’re like, yeah, I was a guest. Like my friend invited me to the country club. I was a guest. But then you can join the country club or whatever it is. Right. That verbiage just made so much sense. And it was like, I was a guest. I, know, as soon as she said that, I was like, oh, 100 percent. Great job.

38:58
Yeah, I like Shalene’s method so much better. She’s very personal. She’s very personal. And throughout the challenge, like if you followed her on social media, and most people probably found out about it from social media, so they do follow her. You know, she was posting questions every day, polls, quizzes, she was answering questions, you know, all in these like short little stories, right? So if you think about the time spent to do those, 10 minutes.

39:27
Right, 15 minutes of just like, I’m gonna pull up my phone and I’m gonna answer a bunch of questions and post. Not hard at all, right? But kept keeping that engagement going. But I think the thing that I took away from hers so much was that she made it really easy for people to succeed and feel like they won. And so then getting them to convert was so much easier. And so as a content creator or as an e-commerce seller, like how do you create that for your potential customer?

39:55
how do you create something where they can win? Because I think that’s the biggest hurdle, right? It’s the same mindset thing, just presented in a different way. She got people to feel like a winner, and so they were very willing. mean, 15 bucks a month, like that’s coffee for people. And so how do you do that as a content creator or as an e-commerce seller, where you give people that feeling of winning to take them from a subscriber to a customer? Yeah, if you watch…

40:22
or listen to Alicia’s episode on this podcast, Alicia Rinozo is her name. She did the exact same thing. She did a fitness challenge and people just wanted to buy her water bottle because that’s what she was using the entire time. Then I think she probably made some affiliate revenue too off of certain things that she used for fitness. Oh, yeah. I’m sure she’ll lean. Well, Amy does write with ConvertKit. Yeah.

40:48
Then Shaleen does because she recommends supplements and other sorts of things that all have an affiliate relationship. I think the difference between Amy and Shaleen in this case is I think Amy’s teaching something much more difficult to get a quick win on. Yes. Right? Yes. The quick win is to get your first subscriber, let’s say. Yes. There’s work involved in the setup, whereas with Shaleen, you just go outside. Yes.

41:16
I mean, it’s true. Actually, I Amy’s quick one was to set up your lead magnet. That was the impression I got that she felt like the quick one was, which I also think can be problematic if you set up your lead magnet and then you don’t have a subscriber. Because I did see some people asking that question in the Facebook group of, okay, I did this, but how do I get people to come to my website? That was a common question that was asked in that group. It makes me think about, we’re going to do this challenge with our course in April.

41:46
30 videos in 30 days. That’s a tough challenge, but it’s only for members, right? It’s only for people in the group. But how do we do a challenge for people to get them in the group that is something where they can have a win? Because I think when you get the win, the sale becomes so much easier. It’s why the car salesman wants you get you in the car to drive it.

42:09
As soon as you get in and you smell that new car leather and you push the gas pedal in the car, it accelerates like crazy. Meanwhile, your clunkers over there are barely getting anything. It’s just more effective for people. I think this short form video challenge is pretty easy to do for the masses too. I think it’s tough. Because you just pick up your phone and you just say something that’s on your mind. Yes. It’s tough because it’s video. If it was audio.

42:37
Or if it was Twitter, for example, where 30 days you put out one tweet, that’d be the easiest, I guess. But I don’t think you’d get the same level of results. No, I don’t think you would.

42:48
Yeah, you know, the lead magnet, like my lead magnet, for example, probably took me like a month or more to put together. So I guess it just depends on, you know, because I had all those videos. have a six part video series, right? Yeah. As part of my lead magnet. So I guess it depends. Even if you’re just giving out a PDF or something like that, it’s still like probably a week’s worth of work. Yeah. weekends. I don’t know, depending on the level.

43:15
I like both of these challenges. I’m not a huge fan of the gating part of Amy. But on the flip side, it works and she’s much more successful. I mean, yes, she had at least 2,000 people in the $37. Yes, so I don’t know what the math is on that, but it’s not bad for your free webinar. I know that is crazy how she’s able to do that.

43:42
I mean, she has a huge list. She mentioned what it was before. Was it like 300,000? I don’t know if she mentioned it, not on what I’ve watched. And of course, replays go down today, so I won’t be able to tell you. I do know that when I did this with her before and I paid for the VIP because I was so intrigued by this concept that on the VIP chat, there were 1,800 people.

44:11
Wow. That’s nuts. Wow. Yeah. All right, guys. No more live chat. No more questions getting answered. Only the VIP. We’re going to be aloof and non-personal for $99. You can sit with us at lunch. But I think the one thing that I really took from both of these because I don’t…

44:37
What I, well, actually I took a couple things. One is I don’t think there’s a right or wrong way to do something. I think both of these challenges were completely different, right? mean, Shalene literally sent an email with the audio recording, which is genius for what she was giving for walking, right? Because that’s easiest thing to do. But Amy was live every day, right? So two totally different things. Shalene’s was two weeks, Amy’s was a week. Very different. The mindset factor. So important.

45:06
Because I do think that’s why people don’t buy. It has nothing to do with the fact that the product isn’t good quality. It’s that people aren’t ready to make that buying decision because of whatever presupposed ideas they have in their head about themselves. 100 % agree. You have to believe that you can do this. Yeah. I’m just, maybe I should watch these videos. Because why not just do the mindset right before you go into the presentation?

45:35
for the first 15 minutes. She purposely did the mindset part first, made people wait 45 minutes or however long it was for the real presentation. And people, thank you for reminding me of this, because I’ve got a lot of mindset stuff, material, actually. I just never really thought it was… Because it’s stuff that I don’t need maybe, you know what I mean? As much. Well, well.

46:04
I mean, maybe I do, but I, you know, like if I want something, I just go do it. Right. And sometimes I, okay, here, here’s the example. Like I just discovered in these past two or three weeks that I don’t like doing any, I’m much less productive when it’s raining outside. Interesting. You live in the wrong place. Well, no, I live in the right place. You should live in Hawaii. Oh, well, Hawaii, rains every day actually. Yeah. But in the afternoon doesn’t count. So I’m sitting here like these past couple of weeks.

46:33
I’ve literally had to force my, well, plus I’ve been sick too. But during that period, I actually got some stuff done because I had to force myself to do it. And I can do that probably for maybe six months or so. So as long as it’s not raining for six months. So, you know, my point is, I think I’ve just was brought up to always like, I don’t want to the word suffer. It’s suffer. I don’t want to use the word suffer, but

47:02
I’ve gotten used to the grind and just sludging through everything. Maybe that’s why. I talk about that in the mindset stuff, but people aren’t interested in Asian parenting. They don’t want to take it on themselves. Here’s where I think the difference is though, because yes, you are used to the grind. I think most people are actually used to the grind. I think that the benefit that you had, especially when you got started, is you actually had a job you really liked.

47:32
So you weren’t, think about most people that we interact with. They grind for eight hours a day and then they’re gonna come home and grind for three hours or two hours, where it’s just like, I’m losing at work. I feel like people don’t appreciate me, don’t value me. I’m underpaid. I have no vacation, whatever it is, right? I hate my boss. And then they come home and they’re trying to figure out something that is completely foreign to them.

48:00
Most of the people that we encounter have zero experience in e-commerce or creating content. They’ve never been on a WordPress site. Like when we meet someone’s like, I’ve had a WordPress site for seven years, we’re like, yes, you know, but most people don’t. They don’t know that you can get products from Asia. They don’t have any idea that what display advertising is. It’s like absolutely like learning a new language. And so there’s a grind all day and then there’s a grind all night. And I think

48:28
humans can only take so much grind, right? Which is where the mindset comes in and those quick wins. And like, I think we as like course providers probably need to do a better job of the quick wins for people because you and I are both grinders, right? We can do this all day long, all the time. But most people don’t have our personality types. And then when we don’t wanna do that, you and I both are the same. We’re like, I don’t wanna do anything.

48:57
We’re completely extreme. We either are like, will grind it out as hard as long as we have to. Then it’s like, I’m not doing anything today. There’s no middle. I think for most people, they don’t want to grind all day at work and then come home and grind on these things that they don’t have any knowledge of. All right. I’m reviving the family first challenge. That’s right. Mindset training is coming back. I got to remember what I said in those because I did those all off the cuff. Oh, did you?

49:26
I did. Okay. People are going to be excited. It was live and interactive. I think they’re on StreamYard still. I got to find them.

49:37
Hope you enjoyed that episode. Now, if you want to know more about challenges, make sure you watch Alicia Rinozo’s presentation at Seller Summit 2023. More information about this episode, go to mywifequitterjob.com slash episode 521. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go over to sellersummit.com.

50:06
If you are interested in starting your own eCommerce store, head on over to MyWifeQuarterJob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

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520: Blog Apocalypse? Can A Pure Blog Still Make Money With Jim Wang

520: Blog Apocalypse? Can A Pure Blog Still Make Money With Jim Wang

Today, I’m thrilled to have one of my good friends back on the show, Jim Wang.

Last time Jim was on, we discussed how his first blog, Bargaineering, sold for a seven-figure sum.  And since then, he’s created Wallet Hacks, where he teaches others how to make and save more money.

In this episode, we’re going to discuss the state of blogging and his predictions for blogging going forward.

What You’ll Learn

  • How to make money blogging today
  • Is blogging dead?
  • Would Jim start a brand new blog today?
  • Check out Jim’s site Wallet Hacks

Sponsors

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Transcript

00:00
You’re listening to the My Wife Quarter Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Today, I my good friend Jim Wang back on the show, and Jim has created and owned several seven-figure blogs over the years, so I invited him to come back to give his take on the state of blogging as a business in this day and age. But before we begin, I want to let you know that tickets for the 2024 Seller Summit are now on sale over at sellersummit.com.

00:27
and ticket prices are going up on Friday. The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online and unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based conference where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business. Entrepreneurs who are importing large quantities of physical goods

00:54
and not some high level guys who are overseeing their companies at 50,000 feet. Now I personally hate large events, so the Seller Summit is always small and intimate. Every year, we cut off ticket sales at around 200 people, so tickets sell out fast, and we’ve sold out every single year for the past eight years. Now if you’re an e-commerce entrepreneur making over 250k or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The Seller Summit’s gonna be held in Fort Lauderdale, Florida from May 14th to May 16th.

01:23
And right now, the tickets are gonna go up in price this Friday. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 50 % off right now. My book will teach you how to achieve financial freedom by starting a business that does not require you to work yourself to death. Plus, you can still grab my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube, and podcasting when you grab the book over at mywifequitterjob.com slash book.

01:53
So go over to mywifequitterjob.com slash book, fill out the form and I’ll send you the bonuses right away. Now onto the show.

02:06
Welcome to the My Wife Quitter Job podcast. Today I’m thrilled to have one of my very first podcast guests back from 2014 back on the show, Jim Wang. Jim is a long time friend and mastermind buddy who I met at FinCon over a decade ago. He’s the founder of Wild Hacks where he teaches others how to make and save more money. His first blog, which was the subject of the last episode, Bargaineering, was sold for a seven figure sum, I think back in 2016.

02:35
And I thought the guy was retired, but then he decided to start Wallet Hacks, which turned out to be even more successful. So Wallet Hacks has been featured in Forbes, MarketWatch, CNBC, US News, Business Insider, a bunch of publications. And I’m actually doing a little segment on blogging on this podcast for the next month. And Jim is one of the pure bloggers that I know personally who is killing it. So welcome back to the show, Jim, after a long time.

03:05
Thanks, man. It’s a pleasure to be back. I was good seeing you a couple weeks ago, and I know we’ve kept in touch pretty closely over the years, but I never really asked you this question. You and I, we have similar personalities and that we’re family men, and we use our businesses to free up more time. We’re not trying to start the next hundred million dollar company. So back when you sold bargaining long time ago, you made a lot of money and you had this really cushy life. I remember we were chatting.

03:33
you messaging and you were doing nothing. And I know you have a pretty cushy life now too, but why start another personal finance blog? why did you create wallet hacks? So it’s funny. It turns out I sold bargaining in 2010. Oh, 2010. Okay. 13 years ago. And so what happened was, is I, you know, I worked for the company that bought it and then

03:58
started like just dabbling and doing other internet type of things. And it’s actually wallet hacks that got started in sort of like that 2015, 2016 timeframes. So it’s probably why you have the dates in your head. And yeah, it’s a cushy, like, you know, one of the things that people often don’t talk about is that when you quote unquote retire, like you have to find, you still have to find something to do. Like I now experienced this myself when I sold the site and I thought, oh, wow, I’m all set. don’t have to do anything.

04:28
I saw this with my dad when he retired, you know, he’s like, ah, I still have to fill my time. And my dad loves the golf. I need to golf all the time. But after a while you’re like, okay, I did that. Now I need something that, you know, you’re, trying to grow and build and get better at. after a few years of sort of dabbling on the internet, I thought, you know what I was good at and what I really enjoyed was writing and writing about personal finance and also like a bit of like an ego.

04:58
stroking, boosting thing, like getting emails from people saying, hey, this was really helpful. And it’s kind of nice to get that. And if you retire and just play golf and just play like some games and whatever, like you don’t get that type of feedback. And it’s, I don’t know, like I kind of liked it. So I thought I’d go back and do the same thing. And the beauty of it is that the first time around, when I started bargaining, I never thought I have to make money with this because I had a great full-time job.

05:25
working in the defense industry with security clearance, like I could do that for decades. And then now with the new site, I thought I don’t need to have it make money, right? So there’s none of the pressure. so it was probably those, lack of acute pressure, which may go against everything that business books say about like burning your shifts and like bridges and whatever, to like give you that pressure. I feel like that let me build it the way that I wanted to without.

05:54
the constant like 80 hour weeks and stress and that type of stuff. So what does it mean to build it the way you want it to build? Like how is this site different than bargaining ever was? So it was, it’s similar in that I approached it from the mindset of I want to write about various topics to help people to sort of scratch my own itch. I was interested in a subject, didn’t know much about it. As I dig in, I’m able to write about it. If I’m able to, you know,

06:24
the old adage, if you could teach it, then you fully understand it. And so I tried to approach content in the beginning from that perspective. And by doing so, you don’t fall into a lot of the traps that, one of the things you see now for those that follow sort of like niche sites and things like that, a lot of them were built to be side hustles to earn money. And so they’re very much SEO optimized. And you saw a lot of them get

06:51
in some ways punished by recent updates because they were a little too laser focused in how they were executed. And, you know, that’s not to say that we don’t pay attention to SEO and that we don’t aren’t laser focused ourselves. It’s that those aren’t the only things that we focus on. And I think it’s that breadth that makes it one fun to do and then to maybe a little more protected from sort of the whims of the Internet.

07:19
So basically the topics that you write about are not all keyword focused now. Is that what you’re saying? In not so many words? Correct. Yeah. Yeah. The way I approach content is I sort of fill it into three buckets and you have the bucket where I want it to make money as in I write it. It may be keyword focused in the sense that, this will drive affiliate revenue so I’m gonna sign up for a bank or a credit card or something because they read a review.

07:47
Another one is if I think it’ll gain a lot of traffic. So it may not itself be a valuable, financially valuable keyword, but it’ll draw a lot of people to the site. Maybe they’ll sign up for the newsletter and I can build a relationship. And that’s actually the third category, which is I sort of write things that I find interesting that they’re not going to get any search traffic. The only way they’re going to get read is probably because I shared it either through email or on social media. And I just want to write about things that are interesting.

08:16
and build that relationship with the reader. You know, it’s interesting. I used to do a lot of those types of posts, but just Google and the way it’s evolved over the years has forced me to stop doing that because I don’t like writing something without anyone reading it, right? So give me an example of one of these posts that you’ve written recently.

08:39
Uh, let me think. So a prime example, this isn’t recent, but so everybody in personal finance talks about, you know, net worth and tracking it and all that. So one of the things that did well when I sent it to the email list was a article just talking about, uh, the things that I learned tracking my net worth over 15 years, I guess now this is an old post, I suppose, over 20 years. And that doesn’t get any search traffic. Yeah. It doesn’t get.

09:07
It just, whenever I email it out to revisit it, that’s when it gets traffic. The other benefit is that other bloggers will read it. And this is like interesting. No one’s ever going to link to your bank review. Yeah. Right. Realistically. And so, but they will link to an article about things that you learned. Uh, another one, actually, this is the most recent one that I wrote. There’s, there’s a concept in sort of like the early retirement crowd where you set up.

09:36
your personal finances and then there’s a thing called the boring middle as you wait to accumulate enough wealth to retire early or whatever. And so that boring middle is something that people just have to endure where there’s nothing you could do to advance it. You just now wait for your income and your investments to grow enough. And so the article was just, said, the boring middle is bullshit. It’s only boring if that’s the only thing in your life that you’re focused on.

10:00
Right. So once something’s on autopilot, yeah, if you sat there and stared at the autopilot, like it’s really boring because there’s nothing one, there’s nothing you can do. And two, there’s nothing you should do. You just leave it there. So I suppose it’s just saying, oh, now go do something else. Do something fun. Entertain yourself. You’ve now we’re laser focused on setting up the system. Now let it run and then go do something else that it’s not going to get. No, no one’s searching for boring middle. Yeah. No, like, but people have emailed me.

10:29
and sent me the apps on Twitter that said, oh, that was a great article. They’ve linked to it. And that those have business benefits. But I wrote it because I thought it would be something interesting to share. You and what’s important for me is that writing those like product reviews, like things that make quote unquote, make money are not as interesting and not as fulfilling as writing these other types of articles and

10:56
So in order for me to keep doing this for a long period of time, I have to sort of scratch my own itch and do that instead. makes sense. So are you doing a lot of their own writing on wallhacks? I do. We have freelance writers. We have a few freelance writers and an editor. They tend to write the stuff that I’m less interested in. So like the reviews and especially with how Google appreciates reviews. do you want like screenshot, like hands on showing that you use the product.

11:26
And I really don’t want to open up a bank account to get like screenshots and walkthroughs and get like that, the more authentic review content. But so that’s, that’s what we have writers to sort of focus on. Okay. So I like your balance. you have the writers write the articles that you don’t want to be writing that probably make money. And then you focus on building the relationship side with, with the more personal articles. Yeah. All right. What is your writing frequency? Just curious of yourself.

11:56
It’s kind of when I feel like it. Nice. And so it tends to be a little more than every other week. Oh, okay. I want to have one arc. So I sent an email out every Wednesday and I want to have something interesting in that article. Sometimes it’s, it’ll be a topic that was assigned to a freelance writer, to one of our writers to write. And, you know, so for example, like a timely article say it’s close to Thanksgiving. Maybe I’ll send out how to have Thanksgiving on a budget.

12:26
or something like that. And then other times when it’s like, all right, so we only publish at most three articles a week. Right. So if a couple of them are, we try to do Monday, Wednesday, and then sometimes Friday. I don’t like pumping out a ton of content. Though from what I read about folks that are doing programmatic SEO and like AI driven content, apparently pushing out tens of thousands of articles doesn’t necessarily hurt you.

12:54
Yeah, depending on who you are and the space that you’re in. But so we do two to three. And so of that, you have to pick one that I think has a broad ish appeal to the to everyone. And then other ones that maybe are more niche. Yeah. Let’s back up a little bit. So how does the site make money? It is primarily affiliate revenue, with different merchants, and then a little bit of display ads.

13:23
Like a very small percentage. then is it just affiliates with financial institutions like banks? It’s a mix. They’re all financial in nature, I guess. So you’ll have like side hustle things like a little bit of tax, mostly banks, a little credit card, some investing, sort of like the crowdfunded investment stuff, like your fund rises and things. Yeah. But it’s primarily that.

13:52
And then you get a cut of the sale whenever someone signs up or are some of those traffic related where you just drive clicks or leads. So it’ll be a mix. Most of the affiliate ones are. It’s a payout based on whether or not they apply for or are approved for. You know, the programs are all different for an account. And then some are based on a cost per click. Here’s a funny story. I don’t know if you remember this, but you’re like, Hey, Steve, give me your ing affiliate link.

14:21
or something like that. And then you put it up and then all of a sudden I made like 300 bucks and you’re like, okay, well that one expired. Or there was a Southwest offer too, I think, was that through you? Probably. Where you’re like, Hey, let me just put your link up here. Cause there’s, there’s a limited amount and you gave me all these like free miles or something like that. Yeah. Yeah. No, that’s a great way to build friends. You Bob is like, yeah. Do you feel like cause 300 bucks.

14:51
cheaper than average. No, I’m just kidding. Yeah, so actually, one of the things we did with bargaining that we don’t do with wallahacks is I used to give we used to have this loyalty point system. And you would get points for commenting, it’ll sort of like generate more activity on the site. And as one of the things that people get as a reward is I would use their IMG direct referral, because back then,

15:17
not a lot of banks had referral programs, but I was writing about the things like I still have an ING direct, now it’s Capital One, 360. But I would just write about it then it got traffic. And I was like, well, I’ve used up my referrals, I used up my wife’s, I started just asking around all my friends. And a lot of them were like, like friends locally, they’re like, I don’t know about that. I’m like, all right, don’t worry, I’m not here to convince you. I’m here to give you money. If you don’t want the money, that’s fine. I got plenty of internet friends.

15:47
And actually, there are people from the bargaining days that I remember doing the same thing with you, regular folks that would email me that are subscribers on Wallet Hacks now that like followed along. And I was like, all right, that was a worthy $250. All joking aside, like I’d rather someone get the money. Otherwise that link someone signs up, no one gets the money. And then, you know, this way everybody’s happy.

16:13
Yeah, but the referral thing anytime you can obviously anytime you give some money, they’re going to be very thankful. And that’s one of the sort of personal finance and sometimes other niches. One of the nice things is that when people sign up for various products, they actually get something. Whereas if you in and don’t know in electronics, if you have electronics blog of some kind in order for you to make money, someone has to buy so they have to pay for you to get paid and finance.

16:42
We all get paid and everybody’s happy, which makes it such an easier sell. The only hard part is electronics, if you have a credit card, you can buy it. In finance, if you don’t have a good credit score, you can’t. But then on the flip side, you can direct them towards credit building programs or just articles on how to get better credit. And so you can still nurture that relationship a little bit. You know what’s funny about our mastermind group that we belong to? I’m like the oddball out because I don’t really write about personal finance.

17:10
It seems like all of you guys are competing for the same rankings for a lot of the same keywords, right? And it’s a super competitive area. If you were to start all over, like if someone’s listening to this, and they’re like, Hey, I want to start a personal finance blog. Would you do that today? Do you think it’s too competitive? Or what are your thoughts today? And just blogging in general? So I think that you have to have a long time horizon at no pressure.

17:41
because it takes a long time. The reason is because if you think about personal finance and the obvious ways to make money, they’re all very big in the sense that like, they’re all very big and competitive, like credit cards, banks, insurance, mortgages. Like wallet hacks is what now, eight years old, I don’t do any loans, I don’t do any mortgages, I don’t do any insurance, I do very little credit cards.

18:09
The only credit cards I the sense that I don’t compete in search and I don’t I don’t do any paid rate paid advertising right now. But I can’t possibly convert compete with, you know, the nerd wallets of the world. Yeah, the you know, all the like the times and then, you know, all their their commerce platforms. So that’s where the big money is, but you can’t play there. So where do you play? You play in say you start a blog.

18:37
and you share about, you know, the smaller fintech apps that are out there. Maybe you try one, you write about it, you do a review. And those there’s those CPAs are like $10, $20 versus a credit card is 150 to 200. Right. So you just have to be very patient. Is it possible? I think it’d be difficult to do strictly a blog. I think what you’ve seen the last these last four years, five years, a lot of people building up massive businesses.

19:06
using social media and being lucky in that they chose TikTok and not Lime or whatever. The right platforms that grew.

19:19
So it’s not the content, it’s the platform and then being nimble enough to figure it out and just have enough experimentation.

19:30
I just wanted to take a moment to tell you about a free resource that I offer on my website that you may not be aware of. If you are interested in starting your own online store, I put together a comprehensive six day mini course on how to get started in ecommerce that you should all check out. It contains both video and text based tutorials that go over the entire process of finding products to sell all the way to getting your first sales online. Now this course is free and can be obtained at mywifequitterjob.com slash free.

20:00
just sign up right there on the front page via email and I’ll send you the course right away. Once again, that’s mywifequitterjob.com slash free. Now back to the show.

20:11
I mean, before we got on, I asked you, hey, are you doing anything outside of blogging, whether it be YouTube? You used to have a podcast, which I enjoyed very much, but you’re doing a pure blog. And you know, with AI, were just, we were just talking about how some of these sites are pumping out like 10,000 articles a month or something crazy like that. And it’s just turning the whole space into just one big garbage heap of AI generated content, right?

20:38
so I guess what I’m asking is, do you feel like you’re gonna have to, you know, maybe make like a YouTube channel or be on social media? Like what are your thoughts on looking forward maybe three to five years? That’s a good question. I don’t know. It’s a short answer. The long answer is I…

21:00
I feel like I’m late to like the, to TikTok, to the TikTok, to TikTok and like some of the other platforms. Uh, there’s like a saturation point there that maybe I don’t have enough time to figure out AI. It worries me less AI directly than it does what it’ll make the platforms, various platforms like Google do in reaction to it. Right? So Google is.

21:30
constantly changing their algorithms with core updates now, know, two months in every month, Yeah. It’s in part in response to AI, but also like a lot of the various black hat things, like people doing Parasite SEO where they buy sponsored posts on high ranking sites to sort of get their content up in the results pages. I think it will make the sort of run of the mill

21:59
reviews and listicles and everything like that that doesn’t have like a personality to it a little less valuable, but one of the One of the features of AI is that you know, it’s a large language model it it can take all of content and like Reassess it whatever not really think about it, but like reconstitute it, but it doesn’t create anything new yet I suppose and so maybe those like thought pieces

22:29
Which on the whole, maybe I don’t think that I am such an original thinker that anything that my brain comes up hasn’t come up before. And so in that regard, it’s probably no different than AI. But I think articles like that, where you’re able to build a connection and build a following is going to be more valuable. Now, does that mean I need to try to push the B in different mediums like audio and video? It probably does on some level. I’m just not sure what it looks like at the moment.

22:59
And one of the things that I’m thinking about is hiring more people to handle more of the day to day and thinking about sort of the near term future only in that that gives me more white space to think about these problems more. Right? Like when you’re, when you’re in the hustle bustle, like doing compliance updates and, all the other things that co go with running a site, you don’t have the like space to think.

23:26
five years into the future. could think one year in the future, but maybe not five. And that’s, that’s sort of the timeline you have to have with technology like this. So given all the AI stuff that’s going on, and I’m sure you’ve been following a bunch of these other content sites that are pumping out all this content, what do you see? Well, let me ask you this. How do you rank your posts? We write them and then we link them internally. Okay, that’s

23:56
pretty much all the like hands-on SEO. We do keyword research and so we will focus on subjects that are relevant and that fit into our to like content map so that when we do publish it it has a natural fit. Right and it goes in the right bucket. You mentioned an email list. Does that become more of your strategy? Because it’s funny among our mastermind group it feels like a lot of the guys still aren’t paying attention to email that much.

24:26
Yeah, last year, we started adding in some technology that will give that gave us the ability to sort of have more insight into what people are doing. Because one of the things that we use currently we use active campaign, but this is the same for any email provider. But you just send out the emails and then you get maybe sort of in that bucket, or in that email world, like, oh, you know what they click on? Almost you know what they open. And that was it.

24:54
And so we added some tracking on the site where now we will know what they’re doing. We’ll know what they’re doing. Even if they didn’t necessarily come from email, like they, signed up and it’s giving us a lot of insight into behavior that I didn’t have before. And it’s showing me you’ll everyone knows how valuable email is, but until you assign a number to it, it’s like knowing the number somehow gives it more.

25:24
Gravitas, I don’t know gives it more importance. It’s like specific numbers people trust specific numbers more but if I’m like, oh well now if you track and you know a subscriber from here is now valued that whatever because your body of a thousand visitors says that it’s worth that much now you can actually take action on it and now getting someone on your email list has value and not just like in general Oh every email on the list of your 20,000 email list is worth two dollars

25:53
No, no, it’s not like that because it’s just like in the population. Some people are worth 200. Some people, people are not worth dollar amounts. But the lifetime value of an emo subscriber from this channel is worth $200 because they signed up on this page, but they’re only worth about $5 because they signed up on another page about like side hustles or something like that. So that level of granularity was kind of a pain to set up. We’re using whoopra. you using link clicky also? I am.

26:22
Oh, yes. Yes. I don’t know if you’re if you’re listeners are familiar with like, they’re not. It’s our mutual friend, Larry’s tool. We always make fun of him for the name of the tool. But it’s a funny name, but it’s like a more powerful, pretty links. And so yeah, yeah. Do you recommend a tool like that? If you’re not doing a lot of affiliate stuff for because it’s it’s expensive. Wooper is like 1000 a month or something. Yeah, yeah.

26:52
I would not. would. the wooper is nice because it gives you user behavior, but only a very small subset of those people are going to be on your email list. So what you’re able to do with it in terms of like, for example, one thing that we do is if someone clicks on an affiliate, like we put them in like sort of this flow where we wait a couple days, actually, I don’t think we wait at all. I think we wait like hours. And if they don’t become a lead, like the affiliate

27:21
company doesn’t or the merchant doesn’t tell us that they became a lead or a commission within like six hours, we actually email them and say, Hey, I saw you took a look at whatever. What did you think about it? Now, of the hundred people that are going click on it, maybe one or two are going to be on your email list. It’s like, it’s actually probably going to be like half a person. It’s like very small, but that gives you a little more insight into sort of what they’re thinking, what things they ran into.

27:52
It becomes even more valuable when you put an affiliate link inside of an email that you sent. Cause now everybody that clicks on that one is gonna, is gonna have this flow. It’s taught me a lot. It’s funny. Most people just like click on stuff and they look at it. They weren’t even really interested in it. They were just kind of looking around. That’s the most of it. And then the next subset is like, we will also send an email on some, some merchants will, if you, they’ll do, they’ll have multiple actions, right? You have the click, which I know.

28:20
And then they sometimes send the lead, which is like they put in their email address to get more information. And then the separate one, whenever they do the commissionable action, like they pay for the service or they whatever, we’ll send emails between the lead and the commissionable. It’s essentially we’re doing to find the e-commerce. The first step of click and doesn’t become a leader of sale is abandoned cart. Yeah, essentially. And then the lead to the sale is just sort of like that.

28:49
we’re kind of doing like their onboarding for them. exactly. You’re right. Because they should be sending out that. Yeah. So that’s essentially the analogy of what we’re doing. And this is what we brought and emails enables. Ah, that’s, I didn’t know that you guys were doing that stuff. Because I know in e commerce, that I do it all the time. Like I have, you know, repeat, so do you have it set up? Like if someone signed up for this one service, you refer them to other services that they might be interested in kind of automatically?

29:19
We do not yet because I see what you did. Cause I remember signing up for your emails and reading. Cause obviously whatever you’re doing in the e-commerce scene, they’re like multiple products. Like you’ll have a card and you’ll have like the merchant services or whatever. And that all makes sense. In personal funds, there’s less of a clear flow. So someone signs up for like a bank account. There’s no obvious like next thing. But I do, I do have to think about that some more.

29:45
The challenge is always that the numbers just get smaller and smaller. So like if hundred people click on it, I can only email one or two. So then out of the one or two, so after every hundred days, maybe I’ll get someone that means like the next thing. So it becomes a little too small. Uh, but it’s something to think about cause there’s definitely categories of products where people will sign up for multiple and we do take advantage of that a little bit by having them sign up for a sub email. Yeah.

30:14
You know, you could use one of those services where it’ll grab the email from someone just visiting your site and that way you can send them. I think you told me about that. Yeah, like three years ago, I was like, I think Bobby’s using it now. I think he’s having good results with it. But yeah, no, I see what you’re saying. That’s that’s really interesting though. And so both Wooper and Linklicky allow you to do these this tracking to such a fine granularity.

30:44
It’s actually Woopra that allows Woopra that does it. Link Clicky will do the redirects. It does a lot more than that, but the primary function for me is that it does the redirects and then it will go to the, and this is very important part of the process, is it uses the various APIs of the affiliate companies. So like your commission junctions or publicists and like Rakuten and Impact.

31:13
And we’ll use the API and grab the commission events. And then it’ll take those commission events and fill it into Woopra. That way I know in Woopra to tag this email and put them into a flow. And then the email will handle that. Interesting. So it’s like the Klaviyo of e-commerce. Woopra plus link clicky seems like, because Klaviyo handles all that stuff. It knows what people are putting in their code. It knows what people are clicking. And then you can guide them.

31:42
on different journeys based on what they’ve done. interesting. That’s huge. Because it’s not I mean, I think that level sort of customization has to increase lifetime value. Or even just per per card order, order card, whatever the term is, I don’t do ecommerce. Yeah, yeah. That’s right. So I know you read a lot of reviews and whatnot on your site. Do you ask for an email on every post also? And what is your lead magnet? Like, how do get them on?

32:12
Ha, you will love this. Actually, you will not love this. My email strategy is one, it’s a pop up that says, hey, join my email list. I think I say like you get like a money toolbox of like tools that I use. It’s not really a lead magnet. It’s a pop up. then the there’s a on some posts, there are forms in the middle that will say sign up for the and there’s those are generally like

32:41
more specialized, right? Email lists. So you want to get information about credit cards or banks or something on a post about that, it’ll have a fill fill out of a form. One thing we also do, which I did as sort of like a fun thing to see if it would work. If you don’t sign up, and you show back up within the next week, I will send you a show another pop up. It’ll be different. It’ll be a little creepy and say, Hey, I don’t see like the site.

33:10
Does that work? You should yeah it works. Okay I haven’t tried that one yet. It’s like it gets like a it gets a marginally higher conversion rate than the first pop-up. Grant it’s a smaller population. Right. But it gets a little but it still gets people. I had to like play with it a little to be like not creepy. I was like hey and I tried to make it like all cheery and not like hey I’ve been paying attention. You keep coming back. That’s funny.

33:40
That’s funny. So walk me through like your plans for wall hacks in light of everything that’s going on. And I know for my blog, I’ve chosen to go all in on video. I’m still going to do the blog and it still brings in the majority of my email subs and it’s my home base. But I feel like, you know, with all this AI content being spread and all this noise, it’s even starting to happen in like the audio space in the video space.

34:09
like you see all these faceless videos on YouTube. I feel like the last bastion of content is going to be video. What are your thoughts? The thing that I, I think that’s a good strategy, but I think to myself, okay, like a regular person that doesn’t spend a lot of time on the internet, right? When I watch YouTube, I’m watching entertainment. I’m watching the Mr. Beast videos. Like no, nothing against.

34:37
His videos are just pure entertainment. It’s like people playing hide and go Like people that I suppose the audience likes playing hide and go seek and like doing these fun challenges. I don’t know how many people are sitting there watching videos to learn something in the, you know. I still think that when people have questions, they will go to Google and Google it. Or they go to YouTube if they want to get instructions on how to fix something in their house or on their car. I think video is just too slow.

35:07
for things like investing and where you’re trying to answer a specific question. I think it’s different when you’re just like scrolling on your phone, like you’re lying in bed and you have like, I don’t know, Tik Tok or Instagram, whatever, reels and shorts, and you’re just watching. And maybe every software you discover like something new and you’re like, oh, that’s cool. I’ll try to remember to like Google that tomorrow. So I think video is good from a discovery perspective. I don’t know if it’s as good from an answer question.

35:36
perspective, but then the struggle is as a smaller site, I’m not the one that they get to when they search for like how to do anything with a Roth IRA, like they’re gonna get some other site. So on one hand, think, okay, if Google is where most people still go to, if I’m not there, do I need to do videos? So at least there’s some level of discovery, maybe start with shorts.

36:05
You know what’s funny is, uh, have you watched Rob’s channel Rob burgers? Yeah. Yeah. He’s been killing it and literally just goes on and just talks. I’ve been in, I’ve sat on to Rob burger. Uh, I guess it’s dough roller, roller. Yep. Don’t roller. I’ve, yeah, I’ve said it. It’s good. It’s really good. He’s got a, he has. So that’s what I think of when I think, okay, you have to do things the way you like. When I, when you originally talked about blogging, can people still do it? What has changed? I feel like you have to do things the way you want to do them.

36:35
without sort of focusing on like what makes money or what’s going to be popular. And eventually you’ll attract sort of the crowd that fits with the way you’re doing things. That way you also have the longevity of not having to pretend you’re someone else. You can go to Rob Berger’s channel and you watch his videos and his cadence is like a little slower than what you’re probably used to whenever you’re listening to an internet video. It’s not like a Mr. Beast like cut every two seconds like faces and right. It’s working for him. And now he has an audience.

37:05
that where it also works for that audience. I sit on his live streams every once in a while and I like listen in and just like just to see how things are going. And I think it’s great if you want to learn how to better manage your money, especially if you’re closer to retirement and are trying to like navigate all the complexities. Like you can’t do that fast. You can’t talk about like social security withdrawal strategies and like all that stuff, you know, 1.5 speed and still understand.

37:31
what’s going on. Plus people don’t want to. They’ll spend as much time as it takes to understand it. And so if you go fast and have to rewind it, like, it’s not good for anybody. You know, what’s funny about YouTube for me is I attract a lot of Asians and I attract a lot of women over the age of 35. Just you are very good looking. My video is probably better for you than it is for me. But just by nature of, I guess what I talk about and that sort of thing. So

37:59
And there’s some guys at FinCon that I met that are really good YouTubers. And I feel like you’re as eloquent or even more eloquent than a lot of them. So which is why I was very disappointed when you stopped MicroBlogger, which was your old podcast. yeah. That was fun. Yeah, I don’t know. This is hilarious to say. And I fully understand after I say it, how silly it sounds. So. It’s just.

38:28
Part of it was just the whole like, not anxiety, but just like apprehension about being on video and being on audio. Just even though, you know, I’ve been writing a blog that thousands of people visit a day. And I like, there’s no apprehension about, especially when you’re writing, like people can literally point and say like, yo, that’s wrong. You’re a dummy. Whereas on video, like it can pass so quickly that, you know, and plus the YouTube comments don’t.

38:57
don’t read them. Yeah, I don’t know. just, I think I just need to spend more time, like, with more space and just think about like what that would look like. Because I don’t know what novel things could be done. But then again, I don’t know, things on the blog, very little of it is necessarily novel. It’s just got my spin on it or Yeah, my flavor. Let me ask you this, how much time a week do you spend on your blog?

39:25
I’ve always been curious because like I picture you as you get up, you go running, you chop some wood, write an article and then hang out with the kids the rest of the day. Realistically, probably average, maybe 20 hours a week. 15, 20. It’s mostly in the morning. then yeah, I wake up. Usually wake up. Depending on when I wake up, it’ll be like 45 minutes before the kids do a little bit of work, like answer the emails.

39:55
fix things and then it’s just kids until 9 15 ish and then I’ll do work until lunch and then afternoons it’ll it’ll be some sort of like working out or nap or yeah because then kids are home by the oldest kid will be home by 3 30 ish so that’s the day what do you spend most of your time on your blog it’s a lot of keyword research it’s a lot of sort of dabbling with older content

40:23
either updating it or sort of optimizing it. It’s a little bit of like affiliate management. So there’ll be that compliance aspect and then just like emailing with different companies, whether or not to start a new program to upgrade or, you know, increase commissions or just play around. There’s really not much structure. I’m sort of in that like I fill in all the gaps type of role, is hard to describe.

40:51
So let’s say you sold wallet hacks and then it became like cash Lorette or something like that and you had nothing again. This is just all like secret. I know, know people don’t understand. So you’re going to put like show notes and explain everything. Everyone listening. the company that bought Bargaineering basically took down the blog, turned it into this site called the cash Lorette and then that got taken down. And I don’t think Bargaineering even exists anymore. Right. I mean, it’s Yeah.

41:20
But my original question was, if you were stall over, like let’s say you just sold wallets hacks similar to how you did bargaining, what would you be doing today? Would you start another blog at this point? Would you do? No, I would not. I would not because having done it twice, it’s like a slow slog. It’s like great if things work out. I would probably dabble in video, which is how I, actually what I should do today is just start dabbling in video.

41:50
without any expectation like I would if I’d sold the Yeah. And then have the added benefit of still having the site and just like messing around. We’re a lot alike. I like doing things without any pressure. In fact, I hate when I’m being pressured because I make silly decisions when that happens too. know, yeah, sometimes out of desperation or, out of like just pure monetary

42:16
I can’t tell you how many in the early days how many sponsored things I took on that were a pain in the butt. But I did it because the payout sounded really attractive. But just all the talking and the back and forth ended up not being worth it. I very much dislike like meetings, like phone calls, and stuff like that. you could make it an email, let’s make it an email. Even if it’s like the first time we’re interacting. Like, yeah.

42:45
Yeah, there’s a thing about pressure that pushes me and probably most people to just do something. Even when you shouldn’t necessarily do something, right? Maybe you should wait and like think it through. the fact that you have pressure on yourself and you’re like, and you haven’t done anything yet, like why haven’t you done anything yet? Like, I gotta figure out what I gotta do. Like I can’t just start going, right? If you don’t know where you’re going, if you just start walking, like you could actually be hurting yourself.

43:14
And then you also run into the whole shiny object principle, right? If you’re starting something new and like, Oh, I gotta, I gotta make money. Well, everything sounds good. Everything sounds good. That’s the whole point. They want you to promote them or do whatever them, but maybe you should like hold off and just like pick a handful and like, you know, test them out, test categories out. And if a category picks up like, okay, maybe we push a little bit more there. And yeah, I think pressure is good in some places.

43:44
It’s also good practice to force yourself to slow down. When you feel that pressure, recognizing it and being like, okay, I’m feeling the pressure now. What should I do? A prime example for me was, so for those that haven’t kept up with all the Google updates, there was an October, they called it helpful content update. Did not affect Wallahex. Thankfully we are still helpful content.

44:13
Then the October core happened and then we lost about 20 % of our traffic. And at first I was freaking out, not really freaking out. I didn’t freak out. Freaking out for Jim is like, Oh man, that sucks. So there was this one time with bargaining back in like, I don’t know, 2008. It was a Friday. I remember this distinctly because I was sitting at work 2007 or six and Google.

44:41
had taken what uh, bargaining completely out of search. So my traffic went from, was probably at the time, like four or 5,000 a day to like 200. The back then no one like publicized updates. So Friday I saw like the traffic crater, Saturday crickets, a hundred people, maybe Sunday crickets. And I was like, I’m on Friday. I felt sick. Like when people say like I was

45:10
I felt sick. was like, you’re just like over. No, I was like sick. Sunday, nothing. Monday went back to normal. I was like, what, just happened here? I have no idea what just happened here. So when this past October, when it lost 20%, I was, I didn’t panic because one, you never know if in like a couple of days it’ll come back maybe. Right. Right. I don’t know. And I dug into the, the, went down in

45:39
in terms of the results. And it all made sense. was all stuff that fortunately didn’t generate a lot of affiliate income. And it was just good from a traffic perspective. It was it was all the blood plasma donation articles, instead of ranking for I was, it turns out, and I never dug into it, because it was not like a monetization thing. Turns out the post that I had on wallhacks about donating blood plasma, they were ranking for the names of the companies.

46:09
So they were like five, six position for every single company. And then as it turns out, after the update, after the core update, instead of my site, my site was now down until like 15, 16, it had surfaced all of the like LinkedIn pages, Twitter, bios and all that up into those spots. And I was like, okay, without, if I’d panicked and thought like, oh, I have to do something.

46:35
instead of like research and like calm down and realize, okay, this is actually something that you cannot do anything for. I might’ve gone in and spent like all this time like updating stuff that I didn’t need to update. Maybe I would’ve edited other articles that hadn’t been touched and stuff like that. And it sucks to go through it when you see 20 % drop, you’re like, oh, this is bad. But it’s also good practice to like teach yourself, okay, don’t freak out, everything will be okay.

47:05
like your house isn’t on fire, feels like it’s on fire, but it’s not actually on fire. Let’s take a calm measured approach. And I think that only happens with time. Like you have to go through it enough times to be like, okay, yeah, we’ll get through this. It’s like the stock market also. I’ve lived through three downturns. I don’t don’t panic much anymore. Yeah. One thing I don’t even look. Yeah. I look once a month when I check on that worth and I record it and I’m like, oh, it was down this and then

47:34
As you get older, the dollar amounts get so big where like in a month, in a month you can lose or gain more or I can lose or gain more than I earned in my first year of work. Yeah. And it’s just like, that’s what happens when you’re in your, in your case, in your mid thirties, in my case, a little bit older, right? It’s just part of, if you look, you’ll freak out cause it doesn’t look fun.

48:03
But that’s these are all inside jokes because for some reason I thought Jim was still 30 something when we just hung out like a couple of weeks ago. But I just realized I’ve known you for so long that that’s how old we were when we met. We met each other at our 20th. I think I was. Yeah, I don’t remember. Anyway, you were in your 30s. Yeah, you’re a couple of years older than me. Yeah. So, Jim, where can people go check out your stuff?

48:33
and uh… set up for one of your creepy mellus well so if you go to wallace dot com you’ll get a pop-up about thirty two seconds after you show up on the site and then if you don’t sign up for that email and you come back five days later you will get another pop-up but you’d sign up to be the email sounds good the second pop-up will say hey man you’re back and it’s about time you signed up for this damn email list what’s going on so good it’s free

49:02
Join the 20,000 other geniuses that have signed up. They’re not all geniuses, but they’re all Most of them are bots, but some of them are geniuses. Hey Jim. Thanks lot for coming back on man It’s it’s been a long time and it’s good to know that things are going well with wallet hacks and one of the pure bloggers that I know that still not doing much video Hopefully I’ll see you on YouTube. We need more Asians on YouTube. All right, I’ll I’ll try. I’m a pleasure. Thank you

49:35
Hope you enjoyed that episode. Now Jim is someone who I consider one of the OGs when it comes to blogging. And for more information about this episode, go to mywifequaterjob.com slash episode 520. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go over to sellersummit.com. And if you are interested in starting your own e-commerce store,

50:04
Head on over to mywifequitterjob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

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519: The SEO Apocalypse! How Google’s Latest Changes Are Shaking Up the Internet With Toni Herrbach

519: The SEO Apocalypse! How Google’s Latest Changes Are Shaking Up the Internet With Toni Herrbach

Welcome to a brand new segment of the show called Profitable Audience where my business partner Toni and I discuss all things related to content creation and building an audience.

In this episode, Toni and I discuss what’s going on with SEO and artificial intelligence and what’s in store for ranking in search going forward.

What You’ll Learn

  • Google’s spam problem
  • How to rank in Google search
  • Google’s latest changes

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Transcript

00:00
You’re listening to the My Wife, Quit or Drop podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Welcome to a brand new segment of the show called Profitable Audience, where my business partner, Tony and I discuss all things related to content creation and building an audience. Now in this episode, Tony and I are going to discuss what’s going on with SEO, artificial intelligence, and what’s in store for ranking and search going forward. But before we begin,

00:27
I want to you know that tickets for the 2024 Seller Summit are now on sale over at Sellersummit.com. The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online and unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based conference where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business. Entrepreneurs who are importing large quantities of physical goods

00:57
and not some high level guys who are overseeing their companies at 50,000 feet. Now I personally hate large events, so the Seller Summit is always small and intimate. Every year we cut off ticket sales at around 200 people, so tickets sell out fast, and we’ve sold out every single year for the past eight years. Now if you’re an e-commerce entrepreneur making over 250k or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The Seller Summit’s gonna be held in Fort Lauderdale, Florida from May 14th May 16th.

01:27
And right now, this is the cheapest the tickets will ever be and the prices are going up every two weeks until the event. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 50 % off right now. My book will teach you how to achieve financial freedom by starting a business that doesn’t require you to work yourself to death. Plus, you can still grab my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube and podcasting when you grab the book.

01:56
over at mywifequitterjob.com slash book. So go over to mywifequitterjob.com slash book, fill out the form and I’ll send you the bonuses right away. Now onto the show.

02:11
Welcome to the My My Quitter Job podcast in a brand new segment called Profitable Audience. My partner, Tony Urbach and I, we’ve decided to join forces and combine the podcast because up until this point, we had two sets of editors, two sets of hosting companies, and I guess a fractured audience. It was a little bit, although I have heard from your audience, they do like you better when you’re on with me because you’re more real.

02:39
Well, I can act normal. Normally when I have someone on that I’m interviewing, I kind of have to be on my best behavior, right? Yes. Yes. You put on your, what do you call it? Your good Chinese boy hat. So now you can be your normal self. Although the last couple of guests I’ve had have been from my mastermind group and that’s been completely natural because I can bag on them all I want. But if I have one of my idols on like Robert Cialdini, I have to be extra nice, right? That’s right. I think if I had one of, I don’t know,

03:09
who that would be, but if I had an idol on, would probably be on my best behavior as well. I I wanted to push the boundaries. I remember in that interview, I was like, so do you use these techniques of persuasion on your wife and do they work? That was one of my questions. That was a risky one. But really? Yeah. Okay. Oh, that is risky. She’s fine. She’ll be quiet. Okay. So one thing that I wanted to talk about today,

03:35
Mainly because during the last office hours for both classes, I gave an update on the state of Google. I know you were off gallivanting somewhere. I’m not sure if you got a chance to catch anything. you meant working. I’m not sure if you caught any of that. I heard all about it. In fact, I saw the emails come in after you gave the office hour lessons and I heard a lot of good feedback. So you definitely got people’s attention.

04:03
I’m sure it got good feedback, but it wasn’t like a rah rah episode. Right. You know what I’m I don’t think any time in the last year where you’ve talked about Google, there has been any rahing going on. That’s probably true. You’re more depressed than anybody else, I think. You’ve said many times to me that you feel like it’s taken the fun out of blogging. Oh, I’m not even talking about that. So we’ve been talking about what’s been happening is tons of spam on Google.

04:33
Yes. Because people are using AI. so Google has been frantically trying to adjust and still put out like the best search results based on all the spam that’s being put out there. And so some of the things, just to give you guys a preview, I covered how, you know, a lot of the Reddit, Quora and LinkedIn results are now ranking like way high in the results because, you know, they’re perceived as more accurate information. And one of this, one of these things happened because a lot of people

05:01
are appending Reddit to their searches now, right, to get a real answer. Problem now is like one of my posts, which I had ranked for a long time, all of sudden got outranked by this one LinkedIn post, some random dude just posting something that wasn’t entirely accurate, but because it was a LinkedIn post, Google upgraded it. And so I’m sure there’s gonna be another, there was five updates towards the end of last year, back to back to back. So the search results were like crazy.

05:30
fluctuating. know what? It worries me a little bit. All of this stuff worries me, but the thing that worries me is, do you spend any time on Reddit? I do, just reading. I’m not really a poster though. I feel like the problem with ranking things on Reddit is you have no idea. You know how we talked, Google talked a lot about EAT, the expertise, the authority. You’re reading a blog post and let’s just say the blog post is written by Brene Brown.

05:59
who is a, what is she, a doctorate or at least a master’s degree in psychology and she has all this training and research and she’s written millions of books, all this stuff, right? So when you’re reading something by her about mindset, you feel like, okay, she is an expert. She’s done 30 years of research. She’s written multiple books. She’s interviewed hundreds of people. And then you go on Reddit and it’s like a dude in his basement giving advice. It’s like, you don’t know who that person is on the other side of Reddit.

06:29
And most people don’t use their real names or anything like that. So to me, that’s what makes me nervous is that when I search for things outside of like a recipe or something like that, and I want good information, I don’t trust any information I get anymore because I have no idea what the qualifications are when I see things come up in the search results. I agree. And in fact, people are already gaming this now. So people are posting on Quora because Quora got upgraded as well. And then in Quora, you can actually link out. Yes.

06:58
It’s like another game, people are just going to start gaming those things. I think it stinks for the user. Google’s got to figure this out because I don’t… Then I get worried when people tell me that they are educating themselves from the internet and it’s like, oh, should you be? Are you taking medical advice from the internet? Are you taking marriage advice? I don’t know, it just makes me very, very nervous. You know what makes me really nervous now is…

07:27
You know my feed is a lot of Golden State Warriors. Yes. And what happened recently was there was this on both YouTube and TikTok, it popped up that LeBron James got traded to the Warriors. That’s kind of funny. And I flipped out and it actually looked real the way it was put together. So I was about to text you and then I just Googled it and yeah, it was, was completely false. But there’s a whole bunch of those out there now.

07:52
Well, same thing with the marathon runner who died in the car accident. He did die, the guy who set the world record for under two hours on a marathon. I saw it come across my feed and I was like, oh, that’s fake news. Then I dug deeper and I found that he did indeed die in Kenya in a car accident a couple of days ago. It’s like I can’t believe anything that I see because half of it’s fake. Then I just saw this article, I want to say it was on CNBC about

08:19
how the latest generation is getting most of their tips and searches doing TikTok searches now. Oh, my kids think, like my girls think TikTok is like Encyclopedia Britannica. I mean, isn’t that scary? Oh, yeah, you have, And I will, I’ll tell this story. My daughter does not listen to the podcast, so I am safe, because she got in a lot of trouble for this, but she saw a TikTok hack about cleaning like your drain.

08:47
And so she was doing it with chemicals that could have an explosion in the bathroom. I don’t know what she was mixing, they were too, you know how you can’t mix like bleach and ammonia? I don’t know what it was, but apparently she came out and told Brian, she’s like, hey, I think something’s wrong. And she told him what he did and that she had learned it on TikTok. And he was like, never, ever, ever. If you see something on TikTok, run it by me, right? Run it by your mom or

09:16
whatever before you do it, but he’s like, could have blown up the bathroom with some TikTok hack. Yes. Sorry. It’s presented with such authority. That’s the thing, right? With the editing and the way things are presented, it feels real. When I saw that that runner was killed, I was like, oh, and then I was like, oh, no, it’s not true. This is another one of these so-and-so died, they didn’t really die.

09:45
Yeah, I was just noticing that my YouTube feed is almost a third AI generated content now. Because the sports stuff, think is the easiest thing to do that with. A game just happens. You just have AI do the summary and then you just move pictures around. I think the NBA allows you to make clips, which is why everyone does it. Right. Yeah. And so it looks like a real broadcast. Mm hmm. Yeah. And they even use like the name of the channel is something that sounds real.

10:14
Like highlight deals or something like that. You’ll think this is funny because you’re not in, I mean, I’m not really in this world either, but people are using AI to create their dating profile. Oh, you mean the pictures? Yes. Yes, I’ve that program. I got an ads for it on TikTok. Yes, which, know.

10:35
Anyway, yeah. Okay, so we’re gonna talk about AI, because one of our friends did- We are, but I want to finish. I want to hear this profile thing. what was the- Well, so basically they’re using AI prompts to feed the chat, which is kind of funny because a girl will like- So I’m in a couple of Facebook groups that are like, basically that you’re gonna go on a date and does anybody know if this person, is it gonna be safe? Right? Has anyone ever dated this person before?

11:01
So I joined the groups a long time ago, but now I can’t leave because it’s like soap opera. But what I’ve been seeing lately is people are using AI prompts to respond back and forth via text or in the dating app chats. And what’s funny is, is that people are getting the same prompts, right? So like a girl will screenshot the messages and another girl will be like, I got the exact same message and she’ll put up and it’s the exact same message from a different guy.

11:29
It’s creating very similar prompts when you want to say certain things to people. That’s happening. Then people are either completely generating photos from AI. It’s not even them. It’s not them enhanced with AI. Oh my God. Okay. Which is basically like catfishing on another level. You’re not using someone else’s picture. You’re using someone else’s picture that’s been upgraded by a computer.

11:55
and which is nuts. And then people will post the photo and say like, hey, does anybody have any information on this person? And everyone’s like AI, that’s AI. And you can tell, like the pictures are too perfect. Right. Right. But also on a dating app, if you think about it, you’re on your phone, the picture is small, you’re kind of swiping quickly. Like anyway, it’s effective, right? It’s getting people in the door for who knows what kind of scam or something like that. But oh, it’s infiltrated.

12:24
the dating app scheme. Filters are no more, it’s AI now. So I’ve been out of the dating scene obviously for For a very long time. I would imagine a conversation that’s run by AI would be really easy to spot, wouldn’t it? So here’s what I think. I think females, and I’m going to make a global generalization here. I think they want, because the dating apps are so cruddy, right? You meet so many people that’ll ghost you or stand you up or no show.

12:53
that when you get someone that seems interested and nice, you sort of cling to, you’re like, oh, it’s a good one, right? Like, oh, this is not gonna be a total jerk. But then, so even though the conversation to me, when I look at it, I’m like, oh, 100 % AI. I think there’s that, right, your brain is saying, there’s hope, this person’s nice, they look safe, right? And so the message is even though once you read them as an outsider who has no attachment, you’re like, oh, AI.

13:22
If you’re in it, you’re overlooking things, right? It’s just like you overlook things about people when you are crazy in love with them. You just meet them and you think they’re wonderful and all your friends are like, yeah, but did you notice this? And you’re like, what are you talking about? I think it’s the same thing. They just don’t notice it. I’m so glad that I’ve been married for so long and I’m not in this world that we’re living in right now. Can you imagine just at another level of weeding out computers versus real people? That’s nuts.

13:50
Okay, well, you what’s funny is the original topic that I wanted to talk about on this episode was our mutual friend Spencer Hawes, who’s actually speaking at Seller Summit. He’s an excellent content creator. He’s kind of always on the cutting edge. He runs niche pursuits. You guys should all go check out his podcast. He, in the light of AI, decided to run what he called a Google versus AI content challenge. I love that he does these things. I know, it’s so much work.

14:19
Last year he said I’m going to write a thousand blog posts, not him personally, but his team was going to do a thousand blog posts in a year, see what happened to his traffic, his rankings. I think he ended up with what, 960? Something crazy like that. Yeah. He has a whole YouTube video about it. You can check them out. Yeah, I love that he does these things, but they are so much. I’m glad he does them so we don’t have to. They are so much work and we can just talk about it on the podcast and give him some extra props if you guys want to go check out all the details. What he did is he wanted to see

14:49
whether you could actually rank a pure AI site pretty much in 90 days. Which seems crazy to me. It does. So what he did is he just blasted out to his list and he said, hey, I’m running this contest and at the end of 90 days, whoever gets the most organic traffic from Google from an AI content site receives 2,500 bucks. That’s a lot of money. It’s a decent amount of money for the experiment.

15:16
And not only that, you have to check everyone’s analytics. You got to make sure that no one’s cheating and that sort of thing. It really is a lot of work. So what ended up happening is he got 74 people to join. That’s a lot. Which is actually a lot of people, right? Yeah. And then some of just some of the rules that he specified was only traffic to the new published articles would count towards the competition. So let’s say you had the domain or something for a while and maybe it had a couple of articles.

15:46
It’s only the new stuff. Interesting. You could participate if you already had a content site. I think so. I think so, which seems a little bit like cheating because if your domain was a little stronger. I don’t know those details actually or whether he talks about it. Well, you all have to watch his. For the most part, it was new people creating AI content. I don’t think anyone had an outsized domain rank. I’m pretty sure he would have accounted for that.

16:16
Yeah. So I was actually really skeptical when I, I actually had a call with Spencer not too long ago, cause we were trying to get him to, um, speak at seller summit and I was skeptical that people could achieve any sort of results in, well, so he, he checked like every month, right? But 90 days is pretty aggressive. I think, uh, to, rank stuff in search, but, um, after 30 days,

16:43
The top participant already had 4,800 visitors in a month. Really? They had published 850 articles. What? 850 articles in one month. AI. All AI and it was in the beverage niche. The beverage niche? I don’t know what that means. Maybe it’s coffee or I don’t know. Alcohol maybe? It could be alcohol. Yes.

17:11
But I could not think of 10 articles to write about beverages, let alone 864 or whatever. what you do is you have one, AI produce all the topics. Yeah. I haven’t actually used the, so a while ago I talked about this AI PRM plugin for ChatGBT, which is essentially an SEO plugin for ChatGBT that goes and it can create an entire article map for you. Like you give it a topic. let’s say,

17:40
Let’s say it’s blogging. You tell it, I want to create a blog about blogging and it will output every single article that covers every possible topic. Okay. Right. So it actually does it in like a table form, the name of the article, the keyword, and then a description of what goes inside. Interesting. And then from there, you can take that description and topic and then have AI actually create the article. I’m pretty sure that’s what this person did. Okay.

18:11
But still, 850 articles in 30 days. head is hurting. That’s 30 a day approximately. I can’t imagine even reading that many articles in a day, let alone editing it. Realistically, they probably couldn’t do a whole lot of editing or manipulating what they got from AI. They probably just published it almost as is. I mean, this is what people are doing right now.

18:40
What’s funny is I think Spencer also participated in his own challenge like he always does. Of course he does. He only got 52 clicks in the first month. Interesting. What was his topic? Do you know? That I don’t know actually. Probably running shoes. Wasn’t that one of his first niche sites was long distance running? He used to use it in all of his explanation things back in the day, like a long, long time ago. Yes.

19:08
I just wanted to take a moment to tell you about a free resource that Tony and I offer over at Profitable Audience that you may not be aware of. If you are interested in learning how to make money with content, whether it be through blogging, podcasting, or YouTube, we put together a comprehensive six-day mini course on how to get started blogging that you should all check out. It contains both video and text-based tutorials that go over the entire process, including a full tutorial on how to set up your first content website. This course is 100 % free.

19:35
and you can sign up over at profitableaudience.com slash free. Once again, that’s profitableaudience.com slash free. Now back to the show.

19:46
Yeah, I think like most of the people that were creating articles for this contest were just using listicles. And the people who did really well, it says here there was substantial human editing. Although that person that published that many articles, I can’t imagine human editing that. don’t know. Anyway, what ended up happening is so the results after 90 days, the top five participants achieved over

20:18
15,800 clicks total in three months, which is astounding to me. Yeah, that’s a lot. That means it works. Oh, does it? Right? I don’t know. I mean, the winner ended up with 274 articles. And they just use, the strategy they use is they use AI to generate the outline.

20:45
And then they just ran it over and over and over again for each section of the post, which is actually the way I kind of taught it in profitable audience. Like that AI article that I wrote about Alibaba still ranks on the front page and gets me a ton of traffic. And that’s exactly the way I did it. I ran it to create an outline. I don’t remember what the article was now. Something to do with Alibaba. And then for each section, I So I ended up running ChatGPT probably like 15 times.

21:13
Throughout the course of that article and then I human edited that it actually took quite a bit of time Yeah, but it was I would say it was like 75 % AI Interesting. Yeah So the person who won I think ended up publishing articles based on current events. Oh Okay. Yeah, but not the type of current events that you would think he covered cricket matches

21:42
I don’t even know how to play cricket. I don’t know either. I just remember we met one of your friends at a conference once that was investing in a cricket team. Do remember that guy? Yes, I’m trying to remember who that was actually. Yes, he’s a huge cricket fan. He’s like, is the sport of the future. like, I don’t think it is, but have fun watching it. I feel like cricket’s one of those sports that is way more popular outside of the US.

22:08
being in the US and that being our frame of reference, we don’t think it’s as popular as it actually is. It probably has a lot of big fan base that we’re just not familiar with. I know that every Indian friend I have here watches cricket. Yeah. So I know it’s big among the Indian population, but it’s one of those things that it’s a little bit more obscure, right? Probably less competition. I would imagine. So I think that’s why it worked. So here’s my question.

22:37
Obviously, we haven’t read all these articles, but just like we were talking about how you’re getting fake warrior stuff in your feed, to me, that information can’t all be correct.

22:51
I don’t know. You know what I’m saying? Because we’ve already seen AI manipulate news and current events. I wonder how much of the cricket info is correct. I have no idea. The contest wasn’t an accuracy contest. was just how much traffic you can get. A straight-up traffic play. A lot of those Warriors videos that I watch, they have 10,000 views by the time I get to them. I wouldn’t watch them if it only had 100 views.

23:21
Yeah. And that LeBron one had a ton of views. Well, yeah, because every Warriors fan was like, please, please, please give us LeBron. I actually had a dream that LeBron and Steph were on the same team like two nights ago. So I probably saw it in your feed. you did. Yeah, because I wouldn’t normally dream that. I think the problem with creating, I mean, this is a contest for that was limited to three months. But I think if you’re doing current events, AI articles, they have like no value in the search results.

23:51
pretty much right away, right? It’s almost like a social media post.

23:57
I don’t know, I remember when I started blogging, I started blogging in 2008, 2009 was the big recession, people were feeling the economic squeeze. I would write articles based on, remember when the government was going to shut down and when the government shuts down, the military doesn’t get their paycheck? Yes.

24:22
So I wrote a couple articles about, you know, the military not getting their paychecks in the angle of like, hey, here’s what to do. Here’s how you can stretch what you already have. Here’s some chat, you know, was, but it was all based on that. When the extreme couponing phase and all that show came out, I wrote a couple articles and I always ranked, like I ranked number two or three for extreme couponing for a couple of years, even though I was never on the show. I didn’t do anything with the show, but I did piggyback on

24:51
I mean, current events is weird because extreme couponing isn’t a current event, but it’s like a current news cycle topic, right? Same thing with stuff with the military. I would try to capitalize on those sorts of things as they were happening because I think people, when there is stuff going on in the world, they get paranoid or upset or interested and they start searching for more information. I agree. Yeah. And then I guess there’s just a lot of attention right now. Yeah.

25:21
I mean, it’s a volume game. Like just think about how many articles that these people published in such a short period of time. Yeah, because the winner did 264. 274 articles. that’s they’re basically doing almost 90 basically 90 articles a month. Yeah, yeah, yeah, pretty much. Yeah, yeah. had to just verify your math. Look at that quick math that I have this week. I’m definitely I’m on top of my game right now. The winner did do human edits, though.

25:51
I guess to be fair. And I think Spencer, when he published those 900 articles, he had a lot of writers, but I think his policy with those writers were it was okay to use AI-generated content as long as you fact-checked all the numbers and everything related to the article. Which I think is something, because we get this question, I think we get this every webinar, right? Can I use AI to write my articles? I mean, think that’s probably one of our top questions in the past year, which is a question we never received.

26:22
before 2023. And I think you have to, if you want to create a lasting product with content, you have to fact check the stuff that you’re putting out there. I think you have to fact check no matter what, right? But if definitely you’re using AI, that needs to be a priority. Whether you’re having one of your VAs do it or you’re doing it personally, I don’t think you can just, I would never recommend someone just publish AI content straight from ChatGBT ever.

26:51
Apparently it works though, that’s thing. I would love to see where are these people in three years? If they just leave the site. Now current events would be tough, right? Because cricket games, probably people aren’t looking up three years ago from a cricket game. The person who’s writing about beverages, that stuff doesn’t change. A drink is a drink. I wonder in three years, are they getting any traffic at all to that? I’d be curious.

27:19
I’d be curious too, and maybe I’ll go and ask Spencer to see some of the URLs for these sites. I wonder if these are just walls of text or whether they’ve actually used images to break up the content and that sort of thing. Whether they had an author bio and everything that just makes a content site more trustworthy these days. I’d be very curious. Well, because for me, some of my older posts are still my strongest posts and they were written 10 years ago.

27:47
So I’m just about the longevity of that sort of a thing because it’s like, okay, you’re going to write three posts a day. You can’t keep that up unless you’re making a full-time income, like three posts a day. Even if you’re doing any editing at all, I guess you’re spending every single night making edits. You know what I’m saying? That’s a big time commitment even if AI is doing 90 % of it. Yeah. I do know that a couple of students in the class got hit by the series of five updates.

28:17
that happened toward the end of the year. And one student in particular was like, hey, should I switch up my content strategy? Because Reddit and Quora and LinkedIn are getting a lot of the clicks now because they’ve been raised. Actually, if you look in the search results now, there’s like a special section for those sites that is a wonderful. It’s called, I think, forum and discussions. But sometimes the Reddit actually gets the top spot with a quote from some random schmo, from some upvoted article.

28:47
Yeah, that’s the thing. It’s like crowdsourcing. I don’t know. The whole thing’s crazy. It was pretty easy to game Reddit back in the day. When I first started, I was friends with all these Redditors who had really high ranks. Occasionally I’d just say, can you promote this article for me? What ended up happening is that article would get 2,000 visits in the next hour. Then I had this voting group that just upvoted everything.

29:16
That reminds me of stumble upon, which was a similar tactic, right? Is you would put something on stumble upon. I don’t even know if that exists anymore actually now that I’m saying it. I’m to Google it right now as you’re talking. It’s the same theory, right? Is that you would have your little stumble group stumble your content and then for the next 24 to 48 hours, you would get some ridiculous amount of traffic and then it just disappeared immediately. It wasn’t a-

29:44
a longevity play for sure. The fact that you can upload things on Reddit, I think is great, but I don’t want that in my search result. I just don’t. I don’t know. I’m dating myself so much right now, but- That’s the trend because people actually say what they mean. If you do a search, what was I doing a search for the other day? It was best router because I need to update my router. All the search results with the exception of maybe Wirecutter who was clout was all bogus.

30:13
I think it was just whoever, like if you do best web host. You come up. It’s Pat Flynn’s post that’s made him millions of dollars. Or best mattress. So you know what’s funny is that if I’m searching for anything finance related when it comes to like credit cards or you know, best like business bank account, stuff like that, not like stock stuff, but just banking in general, I just go to nerd wallet.

30:42
I don’t even look anywhere else. It’s just like, feel like, listen, we don’t know those guys, but they’ve been around forever. They actually are a trusted resource. I know they’re making commission off of everything, but I’m not going to go to any other site unless it’s someone that we know that comes up. It’s it’s nerd wallet or someone we know or nobody, but I’m definitely not going to a random site when it comes to.

31:08
like finding a credit card. When I did all the research about the travel card, I wanted to find the best card for traveling. I read Greg and Holly’s stuff because they obviously play the points game. Then eventually I ended up on NerdWallet because of course they have a great comparison chart and all that stuff. I was like, can you imagine going on Reddit and picking a credit card? No way. I don’t know. You know, the one thing I will hand it to those guys is they have a really good experience. Even on your phone,

31:38
you know, the images change like the aspect ratio. So it’s actually nice and easy to scroll. I actually did this experiment with my wife, quit her job. And there’s a bunch of articles actually that I’ve written where it looks good on desktop, but on a phone, it’s literally like this wall of text. Oh yeah. So maybe like I have to actually go back and maybe even break up those walls of text with even more images to make it easier to read on mobile. Because I think

32:08
Google the way they have to proceed going forward is it has to be, you know, how much time does someone spend on your site or what is their behavior like? Right. Right. Because what they’re doing right now, I don’t think it’s sustainable. Like someone will just game core Reddit and LinkedIn or whatnot. And so they’re going to have to I’m pretty sure there’s another update that’s going to happen. Yeah. Like pretty soon if it hasn’t happened already. And so I told that student to just kind of stand Pat, like things are just

32:37
You don’t want to like chase like the next strategy. So, um, my strategy personally has, has been to just kind of proceed the way I’ve been doing it, but just paying particular attention to my mobile experience and making sure that it answers the question thoroughly. There’s really no fluff. And if there’s some amount of personal experience where I have like a real experience using a tool, if I’m doing a review or whatnot, include, you know, a little bit of it that after the question is answered. Right.

33:07
And we’ll just see what happens. It’s so interesting because I was trying to think about my own search behavior. How do I search? Because obviously I’m a Gen Xer, so my search behavior… I just read this article this morning that Gen Z-er are getting all their information from Pinterest right now. I thought it was TikTok. Wait, Gen Z? No, they use TikTok, but Pinterest has kind of become…

33:31
Like they feel like they’re taking over Pinterest. And it’s funny because my kids who are my girls, which are all Gen Z-ers are active, active Pinterest users. And when I was talking to your sister-in-law, we were talking about how Pinterest is very interested in Gen Z and getting, because I think that’s their fastest growing demographic on, you know, for searching and creating boards and all that.

33:57
content stuff. And my kids are like, that’s their search engine, right? It’s TikTok and Pinterest. They would never go to Google to search for anything. And so I was thinking about my own search behavior. And what’s crazy is that, so you know how when you get labs done, you don’t get like, you get the results, but you don’t know what any of them mean until you go to the doctor and they’re like, oh, everything looks normal. So like sometimes if you, and they always tell you like, they have like a little sliding scale usually, like if you go to lab core.

34:23
and it’s like the dot is somewhere usually in between like the high and low, right? As long as you’re in between the high and low, you’re apparently fine. So I got lab results a couple of weeks ago and I had a couple of dots that were like close to the edge of like high and low, but I have no idea what that means, right? So I’m Googling like, you know, what is this? What is that? And of course it’s like half of the sites, actually probably 75 % of the sites that came up were all sites selling a drug.

34:51
for whatever that was versus a Mayo Clinic or a WebMD or something like that, which is more of an agnostic type of site, just providing that data. Obviously, Mayo Clinic wants you to go to Mayo Clinic, but they’re not trying to sell you a prescription. It’s interesting to me how many of those drug makers ranked for content when I feel like Mayo and WebMD are the stalwarts. They’ve been around forever.

35:17
They put out tons and tons of content on everything medical related. So it’s just, to me, it’s like really tricky to figure out who’s telling you the right information these days. Can you describe to me how a Gen Z user uses Pinterest? Why is Pinterest results more reliable than Google?

35:34
I don’t think they’re more reliable at all, right? Yeah, I mean, it’s just people pinning stuff, right, that they’re seeing. I think so. think people… So how I think Gen Z is using Pinterest versus TikTok, I think they’re using TikTok to search a recipe, right? Like how to make a 15-minute pasta dish or something like that. Whereas Pinterest is, what do I wear to Coachella? Right? What do I do? So see the difference of like…

36:03
the types of information because, I want to decorate, I want peach and teal in my room, right? That’s on Pinterest versus I want to unclog my bathroom drain. What can I do? What can I find on TikTok? Right? I don’t think the results on either one are accurate or necessarily truthful. However, I think how they’re searching on Pinterest is more of like preferences, right? Like what styles and it doesn’t, you you’re not going to get hurt from a style. You’re not going to get hurt from decorating your room a certain way.

36:32
Whereas you could get hurt from a recipe or something like that. You know, I started using TikTok as a search engine relatively recently too, because it’s actually a great place to find new restaurants in your area. My brother has been using TikTok for like news. I mean, he follows very specific people, but I, it’s so funny. So recently I was in the true crime TikTok for like six months. I was loving it. Okay.

36:58
Brian was like, what are you listening to? And I was like, leave me alone. I need to find out what happens. But somehow I got into the auto repair TikTok. And so now I follow like five repair shops and they basically, it’s like the head guy, he’s clearly been a mechanic for like 40 years. And like this one that’s my favorite, it’s this kid, not a kid, he’s probably like 40. And he’s like, dad, top five SUVs you wouldn’t ever buy. And he’s like,

37:25
only stay the car, don’t sell why. And the dad’s like, I can’t do it, I have to tell you why. And he’s like, we’ll talk about it in the comments. And he’s like, and he basically lists off like five SUV, three row SUVs that he thinks are terrible as far as reliability. They’re always pulling numbers from their computer, like cars with the most expensive repairs, top five, you know. And then in the comments, they actually go through and answer. So one of the cars that he said he wouldn’t recommend is a suburban, which is what I drive. So you better believe I in those, I was in those comments, like.

37:53
What’s wrong with a suburban? And so then in the comments, someone’s like, I drive a suburban, what’s wrong with that? And he’s like, well, if it’s this year to this year, it’s fine. But if you have this year to this year, look out for these four things or whatever. So they’re like giving you all this great information. But I’m in like, I’m in that TikTok car thing now permanently. I’m like, this is amazing. If I ever buy a car, like I’m totally going to these people to get information because to me, like that is reliable. He is, it’s like talking to your local mechanic, except for you don’t have to go down to the garage to do it.

38:23
Yeah, I think that’s where TikTok has the advantage, right? Once you follow some for a while and you trust them, then it’s all good. It’s just like the random TikToks that I see my kids watch or whatever that worries me. Yes, that worries me a ton because I feel like it’s such garbage. Yeah, I I think the other thing that Google has to do is they’ll rank based on your reputation, are people Googling you? I actually just did this exercise with me. People actually, I get

38:53
Like I think almost a thousand searches for just my wife quit her job. And then I get an equal number for just Steve Chu. I think if Google sees that, then they’ll give your site a little bit more weight as well, which is why I think social media actually plays a part. YouTube, TikTok, you know, if people are searching for you after the fact, after watching one of your short form pieces of content, that is one way I think Google will determine whether you’re trustworthy or not also.

39:21
When my last name was Anderson, I could not rank for my name because there was an author named Tony Anderson who’s actually a pretty, it’s not like a Grisham level, but I think it’s a she, is a pretty pluralistic writer. I could never get, because everything would come up as her stuff, her books, her things like that. I was like, it’s probably a good thing that I’m a little anonymous. Now I’m not at all. No, I mean.

39:49
When you switch last names from a very common one to one that only people you are related to have, it’s good and bad, right though? I mean, I don’t mind it. Do you rank number? I’m just gonna do a search for you right now. I don’t know if I rank for my, I haven’t even checked it. You do? Yep. Well, there’s probably only one of me, unless I go back to Germany. That’s true. Actually, I show up too.

40:14
You are trying to encroach on a Herbhawk? You’re not allowed to do that. because our podcast comes up and that sort of thing. That’s funny. What’s funny too is- I don’t know. weird. You’re under speakers for amzsummit.com also. Was that a virtual one? Maybe. It was probably virtual. That’s probably what it was. I was like, yes, I think I did.

40:39
It’s funny because I think when you live your life online, you toe the line between wanting some anonymity, but also wanting everybody to know everything about you so that you can get more traction. It’s like, where do you balance that? Do you rank number one for Steve Chiu? I used to. Let’s see if I do.

41:01
I haven’t Googled myself in a while. Yep, I do. I got the top five spots. Oh yeah. Oh, Twitter is number one. That’s what’s coming up for me. Yep. Twitter is number one followed by the blog. sorry. X, number one. Wow. So this is actually really interesting. Oh, you actually have an author on my side, on the side search results. Did you know that? Oh no. Chu is a highly recognized influencer and speaker in the world of e-commerce. It’s your author bio.

41:31
Oh, interesting. Yes. What’s interesting about this is in my… I’m an incognito right now, but I have X is number one for you, then my wife quit her job, then Instagram, and then it’s your YouTube videos. For me, it’s followed by LinkedIn, and then my about page, and then a bunch of podcast interviews that I’ve done. Interesting. All because of the book, actually. What’s also funny is Steve 251 went on America’s Got Talent.

42:00
It’s a picture of some random dude with a microphone. Stephen Chu used to be the secretary of energy and he used to outrank me for a while. Thank goodness they got rid of him. I know. Actually, he’s down the second page now, Stephen Y. Chu. That’s pretty funny. Anyway. think that does totally going off the AI stuff. I do think that shows that-

42:25
if you’re trying to get your name as the brand out there, having that social presence is effective in search. Google’s clearly ranking that stuff as important, right? The fact that your Instagram is coming up for me third, your Twitter’s number one. That stuff is weird because I put no effort in Instagram whatsoever. I know. Yeah. I’m just going to bite the bullet and start. You know what I’m

42:49
I want a dollar every time you tell me that. I know. I’m posting consistently on shorts and TikToks now. Yeah. I don’t know if you’ve noticed, but I have. like them all. Whenever I post one of my business things on Instagram, I always get a lot of flack from my friends who private message me. Your friends aren’t paying the bills. I they aren’t paying the bills. I mean, neither is Instagram to be straight out.

43:13
That’s the rub. We should do this as the next podcast. What is a realistic Instagram strategy for you? I know what I have to do. It’s just posting. What should you post about though? I don’t want to make additional content just for Instagram. It would be my TikTok stuff. It would be my YouTube short stuff. Can you just AI yourself? Stevebot. What’s funny is I am going to do that. This is another topic for a different episode.

43:42
But I record intros and outros for this particular podcast. And then now, you know, with profitable audience on this, I might have to do this potentially three times a week. Right. And usually I record it from scratch just so it flows better. Cause you know, the, levels might change, but 11 labs, which is the leader in, in this space for AI voices. If you train it well enough, then it actually sounds pretty close.

44:10
And fact, there’s a guy who does like a fake Joe Rogan podcast where he like conducts interviews just randomly generated by AI. And it sounds just like Joe Rogan and whoever he gets as the guest. And it works pretty well. So I might start just generating the intros or even just putting my YouTube, you know, transcripts on the podcast also, because I just need to make subtle changes. Like instead of video, it’ll be episode, you know, just subtle changes to the script.

44:39
to make it work and that in theory should save a lot of time. You know to put together one of these podcasts, like the one that we just published for profitable audience on My Wife Could Her Job, it took me like a good 40 minutes for some reason. Really? To record the intro. Maybe it’s because I was coughing so much, I was still sick. Yeah, I was gonna say, I think 40 minutes seems extreme. But I had to line it up also and then I recorded an outro. Oh, I know why, I also had to…

45:08
create a a mid-roll ad for our mini course also. Maybe that’s what it But anyway, it took 40 minutes, but I would say it still takes 20 minutes, even if I didn’t have to do that stuff. So you know what’s interesting is you remember last year at ECF where Andrew Udarian said you’re fed your podcast into AI and created this fake apology from you to him, which was hilarious, but it sounded, I mean, as someone who talks to you,

45:35
on a very regular basis and is very familiar with your voice, I would say I would have given that a score of probably like a 90 to 92 % of like being able to fool me. Like if I would have heard that, I would have been fooled that it was you. Whereas literally two months earlier, Mike Jackness, I was in the car with Mike and he was playing his own AI, his voice on AI and I would have said it was like 50%, right? So just even in like a couple months, like the changes in

46:05
the quality are pretty crazy. Well, Living Labs allows you to upload all of your content. And the more you have, the better it sounds, which means that you, Darien, probably spent a good amount of time on that. He did. I think he took the entire month of January.

46:22
Alright, well, if you guys, since we were talking about Spencer, if you want to see the guy speak, he is going to be a speaker at Seller Summit. I’m not sure when this episode is going to come out, but we’re running low on mastermind tickets right now. Spencer, I’m not sure what he’s going to talk about. Probably his content strategy and blogging. He’s always on the cutting edge. So I know we talked a lot about Spencer today. If you want to see him and meet him in person, he’s an amazing guy.

46:51
Hope you enjoyed this episode. Google is in a state of flux and we will report back as soon as we have more information. Now for more information about this episode, go to mywifecoupterjob.com slash episode 519. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go to sellersummit.com. And if you were interested in starting your own e-commerce store,

47:21
head on over to mywifequitterjob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

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518: How AI Is Transforming Ecommerce With John Lawson

518: How Ai Is Transforming Ecommerce With John Lawson

In this episode, I’m thrilled to have John Lawson on the show. John is the CEO of 3rd Power Outlet, an online retail clothing and accessories company. He is a platinum eBay power seller, a top-rated Amazon merchant, and a small business influencer of the year. He’s also written many best-selling books and speaks all over the world.

For the past several years, John has been really deep into AI, so in this episode, we are going to talk about how AI is transforming ecommerce.

What You’ll Learn

  • Artificial intelligence and its effect on e-commerce
  • How to apply AI to your e-commerce business
  • How to train your own GPT
  • Checkout John’s website – John Lawson’s Website

Sponsors

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Transcript

00:00
You’re listening to the My Web Quarter job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Today I have my friend John Lawson on the show to talk about artificial intelligence and its effect on e-commerce. AI is just moving at a ridiculous pace and John is just one of those guys who is following this industry closely as it relates to selling online. But before we begin, I wanted to let you know that tickets for the 2024 Seller Summit are now on sale over at sellersummit.com.

00:29
The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online. And unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based conference where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business. Entrepreneurs who are importing large quantities of physical goods and not just some high-level guys who are overseeing their companies at 50,000 feet. Now I personally hate large events

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so the Seller Summit is always small and intimate. Every year, we cut off ticket sales at around 200 people, so tickets sell out fast, and we’ve sold out every single year for the past eight years. Now, if you’re an e-commerce entrepreneur making over $250k or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The Seller Summit’s gonna be held in Fort Lauderdale, Florida from May 14th to May 16th, and right now, we’re pretty close to sold out on the mastermind passes. Also,

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If you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 50 % off right now. My book will teach you how to achieve financial freedom by starting a business that doesn’t require you to work yourself to death. Plus, you can still grab my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube, and podcasting when you grab the book over at mywifequitterjob.com slash book. So go over to mywifequitterjob.com slash book.

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Fill out the form and I’ll send you the bonuses right away. Now onto the show.

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Welcome to the My Wife, Quit or Drop podcast. Today I’m thrilled to have John Lawson on the show. Now John is actually someone who I met 10 years ago at perhaps one of my favorite e-commerce conferences of all time, the Startup Bros Conference. Too bad they didn’t do it again. But he is the CEO of Third Power Outlet, online retail clothing and accessories company. He is a platinum eBay power seller, a top rated Amazon merchant and small business influencer of the year. He’s also written

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many bestselling books and speaks all over the world. Now, John has been really deep into AI. So in this episode, we are going to talk about how to apply AI to your eCommerce business. And with that, welcome to show John, how you doing? What’s up? That’s so funny. That is the best eCommerce conference I’ve ever been to. And everybody I’ve met from there always says that and means it. It’s so weird.

03:03
from that event. They spent gobs of money, lost tons of money, but it was a blast. Yep, yep. That’s why it was a blast. So it was good seeing you a couple months ago at the Alibaba Co-Create Conference. Now, for the audience who might not be familiar with you, how did you actually get into the apparel business, selling on eBay, and all the different things that you do? Oh, man. I’ll give you the abbreviated story of my nightmare.

03:33
So I was a consultant. I worked with like a Accenture and you know, I was making a pretty decent wage and I had a friend he was, you know, always hustling up something. This is early 2000s and he came to me and was like, hey, we should flip a house. And I was like, okay, what is that? You know, he’s like, oh, like you see on TV and all you got to do, you, you be the, you know, financer, time to pay for it. We’ll get the house flipped.

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And we’ll split that like, you know, 50-50, probably 10 for you, 10 for me. Like, oh, okay, sounds great. I’ve signed the paperwork at the closing. We have a hard money loan, which means that it had a balloon payment in three months. So we had three months to change the house over or, you know, refurbish it. And when we got the house, it was a three-bedroom, one-bath, you know, so it’d be good for section eight. I do the walkthrough.

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and it’s a two bedroom, two bath. What the heck happened to the other bedroom? Long story short, Section A ain’t gonna give you the same amount that they give you for a three bedroom, for a two bedroom. I don’t care how much nicer it is. So I ended up upside down and I was not going to get out from the hard money loan. Time moves forward and I’m really in a struggle. I’m making two mortgage payments.

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on my one salary, which I wasn’t, you know, I had my own home, wasn’t ready for a second one. And I was about to go broke and bankrupt. And somebody mentioned, well, you should sell stuff on eBay. And that’s how I got started selling stuff on eBay. Right. And so we started selling my used books, you know, which I had around the house. And that was like the first thing I started. Ran out of books, start looking for other things to sell.

05:28
Ultimately, I landed in doing like accessories. So I didn’t actually do the clothing. I started with clothing, hated it because, you know, they sell clothing in weird packages and bundles. Yeah. Right. So it’s like you always get left with the smalls and the mediums and all the extra large and the two X’s go. So anyway, so I landed in the hip hop accessories category.

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So we would sell bananas, sweat bands, jewelry, all the things that a hip hop kid would want back when I was a kid. You know what I’m saying? So that’s how I got started. Yeah, I know what you mean about apparel. I think selling apparel is one of the most difficult things to sell. Probably also because the return policy is like 40%, like the return rate. Right, right. Is it like that in accessories also? No, no, way lower.

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Okay, way lower. Not only that, our cost of goods was lower, right? And I mean, we ended up niching out in shoelaces. So interesting. Yeah, yeah. I mean, that’s a whole nother story, right? Because we’ve been around so long. But if you think about it, you know, in the first or the other recession, right in the 2008 frame, with you know, people stopped wanting to

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wear fake jewelry even, right? And so we had to shift. I did that 80-20 rule, right? And I started looking, I’m like, wow, shoelaces, we sell a lot of shoelaces. And then I went to the categories and there was like, if you go to Amazon right now, there’s hundreds of shoelace sellers. When I did it before, nobody, literally, I believe we built the category, you know? So,

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But when I looked and I said, hey, this is something we could go deep in. This is something we could brand out. And that’s how I ended up with shoelaces. before we get into AI, I know you said that you’re not really selling on eBay anymore. What is your view of the marketplaces right now? Amazon and eBay, the competitiveness, just the overall landscape? mean, you know what? I think they keep taking market share, which is kind of interesting. It’s amazing to me that eBay

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It’s still doing what it does so much in fact that I’m like, well, maybe I’ll go back and revisit eBay a little bit and see if we can actually move new merchandise on eBay as well. Because I’ve noticed there are people that drop ship our product from Amazon to eBay buyers, you know, which I don’t care. I get paid the same amount whether you do it or me. But I’m like, there’s some things that I would like to just offload.

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on eBay, so I’m looking at it. But I’m thinking that especially when you look at what these TikTok shops are starting to do, that the marketplace competitiveness is about to heat up. Oh, yeah, for sure. Everyone’s getting in the game. It is. Yeah, they have to. They have to because they recognize that, especially with this AI thing, which we’re going to talk about.

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I just think that, you know, it’s going to even the playing field for marketplaces. Like you’re going to be able to build your own marketplace for real now, where, you know, people have tried in the past. But did you leave eBay a long time ago because it just got too saturated because you used to be a platinum seller, right? Yeah, I was a platinum seller. It wasn’t that it got too saturated. They were making too many changes. the changes at the time.

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this look at the timeframe, you know, when they were getting rid of the old CEO, new CEO coming in, trying to compete as if they were Amazon, they weren’t, they didn’t have the same, you know, systems in place. And it just got to be such a pain that I was like, okay, and the sales started slowing. So that’s when I took Amazon seriously. And then suddenly over maybe a two year period, it went from our sales on eBay were here, Amazon here to this.

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And then I was like, you know what? I’m cutting you guys out and just focusing on the Amazon platform. So it was more of a focus play while eBay got themselves together. That makes sense. Yeah. And I know you’ve been kind of on the forefront of AI. You said you’ve been into AI for, I don’t know, it seems like eight years, I think is what you mentioned before it even became mainstream and popular. I’m just very curious, what are some use cases that you’re using it specifically in the context of e-commerce?

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I mean, for e-commerce, mean, more than anything, it’s content creation. OK. Right. So I mean, that, course, is I think that’s the initial phase. Yeah. You know, so people don’t understand. when you think about it, just a week ago, it came out a year ago. It’s only one years old. Right. And now, you know, actually, it’s exactly exactly a year old. Right. So now we can see it can hear it can talk.

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I mean, it’s absolutely amazing how far it’s come in just one year. So what’s going to happen in 2024? Oh my God, right? However, yeah, I’ve been back in the day. I don’t even remember the day I got a question. I’ll tell you my story. What was the initial question? Because I want to answer that. Applications of AI. Applications, right. So like I said, yes, that’s what it was. So it was.

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great for content creation, right? Written word content creation. So writing product titles, descriptions, getting SEO rich descriptions, creating audience segments, creating a very detailed avatar and long tail keyword reports, right? So these are things you used to have to spend a lot of money on or get experts to do, right? And now I’m able to get that done

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with a short command inside of ChatGPT. And we really have seen an increase in effectiveness of a lot of the content we put out. And that’s just on the salesy side. That’s not talking about market leadership kind of and thought leadership type of product or content that you create as well. So it’s…

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When you’re talking about effective, are you talking about effective in ranking and search or you just talk about effectiveness in conversion rate? You know, here’s the deal. I don’t, it’s effective in ranking and search, but search ranking is only in my opinion, based on how much it resonates with our audience. Right? So it’s more effective for me in sales. It’s answering the questions that people are having and the conversations that they’re having in their head.

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when they’re trying to determine who to buy from and when they’re going to purchase. So top Give me an example of how you’ve used it for maybe one of your shoelace products or something like that. Yeah. So like tying shoelaces. Okay. It’s a very, shoelaces are a weird kind of category because shoe people are weird people, right? They’re absolute

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fans of the entire thing. And so having to, it was hard for me to communicate without somebody actually touching my shoelace versus another shoelace, because you think all shoelaces are made the same, right? And once I started putting in, here’s the materials we use, here’s the weaves that we have, and if you have a problem with it, we will refund you or replace.

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Getting that to look, I can’t even talk about it myself, but having chat GPT talk about it has made it very, very real for our laces. So it’ll have that conversation. Hey, do you know how it feels when your shoes start looking dirty? What’s the best way to clean them up? Buy a new pair of laces, right? That kind of thing. So we have, there’s just so many different kind of people. got the skaters, we got the collectors.

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We’ve got the everyday fitness person. You’ve got the runners. They all use shoelaces, but the conversation with each of those are different. How do we make content for those different audience segments for this exact same product? So in terms of chat, you BT that you mentioned several times. Are you using the paid version and do you in your opinion, is it worth it to to get the paid version? So up until so up until now, I would say you can use any version.

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Right. And most of the content that I wrote, I wrote in 3.5. Okay. 3.5. Right. Right. And I’ve really been good at isolating content in 3.5. So most of the stuff I teach for e commerce folks, you can get out of the 3.5 with recent advancements in the last couple of weeks. Yeah, two weeks. Literally weeks like literally last week. Yeah. Yeah. So

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Its ability to do imagery inside of there is you’re only able to do that with plus and the GPTs that are coming out, which are like these little modules that are being made to do one specific task over and over again. You can only get that with four. So I think those are reasons to upgrade to four. But if you’re just creating everyday content, I’ve never found like, oh my gosh, you know.

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This is so much better with four. If you know how to prompt it right, you can get away with 3.5. And I think, you know, in the next six months, four is probably going to be, you know, I’ll say six months to eight months. Four is going to probably be the lowest level as five gets ramped up and put out here. We got 4.5 for now. I upgraded to four right away, like as soon as it came out because of the plugins.

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And the fact that it was only up to 2021, the four lets you browse the web and it just made a lot of things faster. personally I recommend. Yeah. Three. Yeah. What’s that? It’s up to April, 2023. is. Yeah. It’s up to April now. Yeah. That’s all very recent. Yeah. Yeah. So I think those little things have made it worth the $20 upgrade if you can get in.

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because they’ve just put it on hold. They’ve paused it. They really? Yeah, because so many people were trying to get in, slowed it down. It’s like, OK, we need to put this on pause. I didn’t even know that. Good. guess I’m great. Yeah, in the cool room. So what are I imagine you’ve been playing around with it? How are you using the new features? So honestly, I actually wrote all of the prompts that I used to use into a GPT.

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I just wanted to take a moment to tell you about a free resource that I offer on my website that you may not be aware of. If you are interested in starting your own online store, I put together a comprehensive six day mini course on how to get started in ecommerce that you should all check out. It contains both video and text based tutorials that go over the entire process of finding products to sell all the way to getting your first sales online. Now this course is free and can be attained at mywifequitterjob.com slash free.

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just sign up right there on the front page via email and I’ll send you the course right away. Once again, that’s mywifequitterjob.com slash free. Now back to the show.

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Okay, right. Can you define for the audience what that means? Yeah, so basically, chat GPT is basic knowledge, it has knowledge on everything. And a GPT will allow you to create a little robot that only is good at a specific task. Right. So I’ve taken all of the prompts that I used to put in the knowledge base, and are not into the knowledge into the

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general knowledge into this one GPT. So if you go to that GPT, you can write a product title and description, create a customer avatar, get an audience segment report and a long tail keyword report. So those four things I’ve programmed it to do using my methodology. Does that involve coding or is there an easier If there’s no code needed.

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You’re able to do it with natural language and just typing in commands, or you could actually do audio into it as well if you got that set up on your computer. This is only for the latest version, right? It’s only for the latest version. It literally just came out a week ago. Yeah, literally just came That’s what I was asking. You’re quick to the trigger there. Oh yeah, man. like, look, I think, well, we know. This is all the future.

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And honestly, is what we’re seeing now is you’re going to be able to have these little robots do a lot of the research and the repetitive work that we used to have to do manually, or we would outsource. A lot of that is going to be done by these type of robots. So if I’ve got a robot that I can put in a product skew or an ASIN even,

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and it go out to the web and give me all of the product details of other people, all the reviews from other people take out. This is something I do. I’m giving away secrets, but you can get all the reviews. You take out all the reviews, right? And guess what? When it comes to reviews, it’s like, you know, the Olympics, you need to throw out the top score and the bottom score and take the ones in the middle, right? Because the ones in the middle all have the information.

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on how to make a product better, right? It’s like, oh, we like this product, but it would be cool if it did X, Y, Z. So you find all of those and you have ChatGPT go through it, right? And then find the areas where you can make a better product than your competitor, shoelaces, based on what people’s suggestions, complaints actually are. Walk me through the training process since it is pretty new. Like, what does it take?

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to create this GPT that you created? And is it for public consumption right now, or is it behind a paywall? Yeah, actually, let me make sure because I don’t want to turn it off and on sometimes. OK. And that’s because I’m actually asking people to go out there and beta test this for me. Right. So it’s at Ecom AI boss dot com. Ecom AI boss dot com. OK. Dot com. Right. And the training process is

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if you can imagine having a screen that’s split in half. On the left-hand side, it’s where you create and configure the app, the GPT app, and on the right side is just a little bit of a preview of how it’s going to work. So as you are talking to it and creating this GPT, you can see what you’re doing on the right-hand side. And so when you start the GPT builder,

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It literally says, what do you want to create? And you tell it simply with natural language. Hey, I want to create an AI based bot that will write product titles and descriptions for e-commerce products. That was the first thing I would put in. And it would be like, hey, OK. And it’ll start configuring that in the background. You’re not even touching it. Right. Right. And then it’ll come back and say, hey, well, here.

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Here’s what you should call it. Do you like that name? You know, now I don’t know what it said that it should call, but I already had the URL for Ecom AI balls. So I said, no, you’re going to call it that as a name. And then it comes back and says, okay, great. That’s a good name. You know, nothing you ever do. Does it tell you that sucks? It never does. Right. But it’ll, it’ll come back and then it’ll say, okay, cool. Now let’s create a little icon for it and it’ll use.

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you know, Dolly three inside of chat, TPT and create the actual icon for the GPT. And then it’ll come back and say, how do you want it to speak? Right? What kind of language do you want it to be very professional or informative? So you put that kind of information in and literally going back and forth like that in natural language. You don’t have to use a whole lot of, you know, tech speak.

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You just tell it what you want it to do. And as I’m telling it, I’ll go over to the preview, try it, see what the outcome is. If I don’t like the outcome, or if I was saying, hey, I want more bullet points, you know, and then I’ll tell it, hey, let’s make it where it has five to seven bullet points. Hey, let’s make it so the title is no more than 200 characters. Things like that. And it keeps writing the instructions as you’re going through this conversation.

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Ultimately, you end up with a app, which is a GPT. So a GPT is just an app that runs on chat GPT. Ultimately, one more thing, ultimately, they’re gonna build an app store. Yeah, I know the master plan. Do you think this is gonna put all these AI companies out of business that have these very specialized apps? Yeah, it already has. I mean, so, you know, cause so many of them jumped up.

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to do these little specialized things. And I remember when I was seeing it, I was like, yeah, that’s not gonna be around long. Because if you think about it, like I said, I’m a dinosaur, so I’ve been around a long time. But I remember when we used to have word processors, right? And then you had Microsoft Word, right? And the things that the word processor would do,

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Microsoft would look at it and then make it part of Word. mean, spell check and all that kind of stuff, which is AI, right? Yeah. Did not exist in the first versions of Microsoft Word. People built these spell checkers and said, hey, use this, then create your content with that, put it in your Word doc. Well, ultimately, Microsoft literally found out what other people were doing and just put it into the product as a feature.

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So I knew a lot of these things people were doing were gonna end up being features anyway. It’s just the way it has, that’s the way it goes, Yeah, And now that this functionality is kind of sanctioned by ChatGPT, everyone’s probably just gonna use it to create their own apps, right? I think so. At some level, you know, there’s certain people that just won’t be technical. There’s always an opportunity for do-it-yourself. There’s always like,

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people that will do it themselves, right? Then there’s people that need to have some guidance that will do it in a group, you can do it with them, or you can actually have a service to do it for them. I think there will still be a tier of do it for you. That’s my business. Can we talk a little bit more about the training process? So it asks you questions and you respond. How do you add your knowledge to it?

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that is not prompted by the bot? Yes, that is a good question and something, excuse me, new that’s just came up. They’ve got a knowledge section, right? So these are conversations you can, or conversation things that you can put into ChatGPT. You can upload, you know, images, PDFs, CSV files, and docs. And I think a couple of other things, right? So you can upload those.

26:31
and they become part of the knowledge base that the GPT will reference when it needs to respond to customer inquiries. So when I say that I put my prompts in there that I used to use individually, I took them, put them in a PDF doc and uploaded it and it goes and references that when it makes the responses. these are not, know, the responses you get are not,

27:01
just the standard knowledge-based responses. They’re very, very tailored based on the prompts that I’ve put into it. And that’s how I put them in there, was with that. Now, having said that, there’s also the ability to have actions, right? So you can use API actions. So I could have Zapier APIs put into one of my GPTs where it will

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let’s say I wanted it to go reference a Google Doc or a Google Sheet to find out like what is my latest inventory and it’s all in this sheet. Go check that sheet. It could go pull that from that sheet, make the updates and it could then go back and update the record through a Zapier kind of Zap. Lots of possibilities here. So your APIs

27:58
now can actually be part of a GPT. Haven’t gone that deep into rabbit hole yet, but it’s only a week. So I’m guarantee you it’s going to have a whole lot of functionality, you know, as I start learning more and more. And here’s the cool part, right? I mean, do you know about how to use API’s? Of course. I’m a former electrical engineer. Okay, great. Great. All right. So I have no idea how to use.

28:28
All right, I do. I know the concept, but I’m not a coder. Now, I can literally have it go out with the URL to the APIs, go read through the API, and then code what I want the API call to be. That’s just, dude, and I did that by telling it to do it, not doing it myself.

28:53
Yeah, I’ve been using it for coding a lot, because I don’t know the syntax a lot, because I don’t do it every day. It’s not my main thing anymore. But it works remarkably well. I mean, it does put some bugs in there and you have to understand kind of like how to read the code in case something goes wrong. But it’s pretty good. It’s pretty good, right? Yeah. And it’s only a year old. What’s it going to be, you know, in 2025? So we were talking about this before we hit record, but

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I was going to create SteveBot a while ago. And I was always worried that I’m passing all this information to a large company who’s just taking that information and incorporating into the bot. Do you foresee the ability to be able to do this on your own that’s not owned by one of the large conglomerates like Google, Bing, or Amazon? Absolutely. Matter of fact, so you got to think about this, right? There are people out here right now because you know,

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these language models are LLMs and the first L is large, right? And so there’s research all over the place on how to compress the learning experience for these LLMs. And it’s very similar to the fact that we can, I remember my first MP3 player, right, was

30:18
It was a brick. It a big old brick and it held a thousand songs. Was it the Rio? Was it the Rio? I learned that. Yeah, yeah, yeah. It had a thousand songs on it. Yeah. Right. Today, you can get like, you know, five thousand albums on your phone. I mean, give me a break. Right. So the deal is, is that, you know, memory compression is going on at the same

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speed and at the same rate as a lot of this stuff we’re looking at in terms of functionality is LLM. I will project to you that by this time next year, you will have a chat GPT 3.5 version that will run on your phone in its own environment. Right? Where it doesn’t need to go out anywhere. Matter of fact, there’s already stuff inside of these developer communities.

31:17
that are, I was just watching a video on it yesterday, don’t remember what it’s called, but there’s already one that’ll run on your laptop that has all the functionality of a chat GPT 3.5. So it’s totally inside of your own environment. So if that’s something, I think that’s gonna take off like crazy, right? So we’re not gonna run around trying to get to, I’m getting, hey, you’ve reached your limit over here.

31:47
to write this, that, and the other, I’m going to have it all inside of my own environment soon. So yeah, it’s coming. So we talked about ChatGPT. Are there any other programs that you’re actively using, or is ChatGPT the main one? You know what? Honestly, that’s the only one that I’m actually using. And it comes from the fact that I recognize all these other ones are pretty much using that as the back end anyway.

32:16
So the more I learn about it, the better I feel about myself. But I’m really actually waiting for the next iteration of what Google’s going to do. Honestly, between Google and Microsoft, mean, those are the two. And like we were talking, it’s like, yo, either Google, Microsoft, or Amazon is going to be probably the big three that are playing in this game. I’m probably putting my chips behind Google.

32:46
just because of all the data that they have and own way more than anybody else. So if you’re talking about training, they’ve got more data to train on. But I don’t know. We’ll see where that’s going. used Bard or do you use Bard at all? You know what? I have, yes. I’m on the version where you can use Bard with your apps, but you can’t use it with the paid apps.

33:13
So it’s like my JohnLawson.com is a paid URL. I can’t use it there. I can only use it right now in beta on one of the free IDs that I have. So the things that it’s able to do in terms of updating and filling out spreadsheets, being able to do chat type, chat GPT type functions in the doc.

33:42
and having it come back in the doc is pretty exciting. So I can update the doc right there as opposed to, know, chat to PT copy paste, make adjustments there, you know. So yes, I like it. But the content yet it’s not it’s like still for me at GPT three level, not even three point five. So I know what’s happening. You know, you they’re in the background watching loading up.

34:12
and then they’re going to release. So probably at the beginning of next year, Google will come out with their answer to GPT’s Developer Day. And we’ll see where we are after that. How do you think AI is going to affect search? Because Google released the Google search. I can’t remember what the acronym was, but it had an AI response at the very top. How do think it’s going to affect search and all the affiliate sites and all the SEOs out there?

34:42
You know, to be honest, I think they’re in trouble, you know, but I think they were already kind of in trouble. If you think about it, and me and a friend of mine were having a discussion about this, is that the world pre-TikTok and after TikTok, TikTok has changed user experience so that people are not doing the things that they used to do, you know, they don’t necessarily sign up.

35:11
and follow things. They don’t follow things, they discover things. So I think that nature in and of itself was going to be a big impact on SEO. And I think Google’s not stupid, they understand that. When we started this conversation, one of your first questions was about me and content. And I was saying, in the SEO of the content, I said that the content, it’s really about the

35:41
consumers engagement with my content. That is the most important. I don’t care how it ranks. don’t care if they read it and they take action on it. That is the KPI that I’m looking at these days. So I want to usurp the, let’s stuff this with keywords so we can get to the top. Cause you’re not going to be able to get to the top. The top’s going to be basically, you know, curated from an AI and it’s going to serve it to you.

36:10
as a discovery as opposed to a search. So I think there is some deep impact that’s going to be had. you figure like this, it’s a whack-a-mole kind of world for SEO anyway. It’s like every once in a while something pops up and it was a way for somebody to cheat to get at the top and Google responds by smacking down.

36:40
the mole and you know, AI has made the moles pop up even faster. And I think, you know, their response is going to be like, you know what, forget it, we’re going to take up the whole first page. And then everything else will be after that. And it’s close. Unfortunately, that’ll kill their business model though, right? They have to figure out something else. Yeah, but they know that. You know what I’m saying? I’m sure. Hey, they built this thing really.

37:10
You know, they were one of the leaders. So I’m not really sure how advertising. So the real question is how will advertising change? Yeah. You know, it’s not just SEO, but advertising itself is going to change. And I’m sure you’ve you’ve done this. I mean, you’ve had a podcast for years. Right. And I mean, you advertise. Do you take advertising? I did. Yeah, you did. Right. So like.

37:37
in-stream advertising is way more valuable. When Steve holds it up and says, hey, this is what I used to drink, that’s a lot of value. But you just got to have an audience. So I think we’re moving to the influencer as opposed to the SEO results. Yeah, I would agree with that. What about e-commerce? Where do you foresee people shopping?

38:05
going forward, like looking fast forward maybe like five years, what platform? If I said, I don’t know, would that be okay? Oh yeah, no one knows. Okay, so I don’t know. What’s your best guess? My best guess? Yeah. Honestly, think my, you know, I’ve been saying a long time, you know, that something will replace Amazon. I mean, that’s just inevitable. Yahoo got replaced by Google.

38:32
You know Amazon replaced eBay something will replace Amazon. Will it be in the next five years? pretty possibly In terms of you know overarching You know Amazon right now is the big gorilla in the room I see What tick-tock is doing to be kind of interesting? Yeah, I’d like to see what YouTube Actually lands at because they keep testing all of these different things

39:02
but they don’t seem to ever nail it, which to me has always been a problem with Google. They’ve always had the ability to really make shopping, you know, the thing, but they always would kind of sit back and like, but we had SEO and I think they felt like shopping was competing too much with their main core business that they didn’t spend enough time. But I think now they need to make that shift. So wherever influencers

39:32
have the most ability to do that kind of marketing for brands, I think is going to be the most important place. So would you say that if you were to start an e-commerce business today, that content is going to be king? I’ve always said content is king. OK. I don’t know. is that? See that thing? There it is. I wrote that book, Thick-Ass Social Commerce for Epreneurs.

40:01
Social commerce, right? This is what we’re talking about. Today, I wrote that in 2014. And in that book, I said content is king, but context is queen. Right? Can you define that? Yeah. So content is great. Telling me about your new car. Here we’ve got a new electronic car. I’m really digging the Lexus and their new car, right? So it’s the RX, the first RX, right?

40:31
That’s great, right? But if I get that commercial after I just bought the old RX, it has no relevancy. There’s no context for me there, right? But if from whatever they might know about me inside of these engines, it’s search engine, whatever, if they know I’m looking for a car, when they show me that ad, that context,

41:01
because I’m actually looking, deciding, and just really figuring out where I’m gonna buy that vehicle, it has a whole lot more meaning for me. So the more we can nail that context, the content gets way more valuable, right? So we’re moving from throwing spaghetti at the wall to, I don’t know, serving up Italians, I don’t know, a good way.

41:28
Saying that I mean this is when you wrote that book Facebook ads were just killing it, Absolutely busters before Apple kind of made it difficult for them. Yeah Absolutely, right and to be honest, it was even before that You know, that’s because that was when those ads were killing it but a lot of people didn’t even know that the Opportunity was there and how to use it or that it was going to actually

41:57
be a thing, right? So if you look at that book, I’m talking about, oh, this new platform that’s about to take off, which is Instagram. So where are we at with Instagram now? I mean, come on. It’s launched so many brands and hundreds of millions of dollars worth of sales. And now it’s the dinosaur. But there’s principles.

42:26
That’s the key. Let me close with this question. Sure. Let’s say you have a product and we’ll just call it shoelaces just for kicks because because that’s what you sell shoelaces just for kicks. Yeah, I didn’t even mean to do that. I’m taking that. What platforms would you be using to create content on in order of priority for you? OK, first, I come from this real thought of one platform. OK, only one platform. I don’t want to be everywhere.

42:56
If you manage to exhaust one platform, fantastic. Start other places. Multiplication by zero is still zero. Nobody watching your stuff on Facebook. Go somewhere else. If I were starting over, I would probably start with TikTok. Okay. Right? And I’m actually opening up a shop right now. More than anything, my coaching consulting thing. I want to know what the opportunity is.

43:26
and how to take advantage of it. But I think that is an emerging platform. And sometimes you gotta be where the puck is about to go. And I think the puck is about to go somewhere in that realm. Will it be TikTok? I don’t know. The government could cut that out in a heartbeat, you know. But guess what happened? They just had dinner with China. Very important for those of us that are building TikTok businesses. They’re getting that

43:56
that harmony back or at least enough harmony to be able to exist in these kind of digital spaces. It’s very important. So I think those kinds of things are a TikTok type platform and with shops are going to be where this stuff is going for sure. So John, where can people listening to this episode find you? Definitely. I’m gonna make it easy. Colder ice. Just look up.

44:26
Colder Ice. Search for Colder Ice. C-O-L-D-E-R-I-C-E. And you’ll find me on every platform. I am Colder Ice everywhere. Of course, my name, John Lawson, but it’s very common. But Colder Ice is where to find me. And if you want to beta test that eCom AI Boss thing, check out eComAIBoss.com and you get straight to the preview of my product that I have a GPT around.

44:56
Cool. Well, John, hey, thanks a lot for coming on the show and talking AI. Awesome. Thanks so much, bro.

45:05
Hope you enjoyed that episode. Now, if you’ve been on the sidelines with AI thus far, then get off your butt. Otherwise, you will quickly get surpassed by your competition. More information about this episode, go to mywebquaterjob.com slash episode 518. And once again, tickets to Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go over to sellersummit.com.

45:35
And if you are interested in starting your own eCommerce store, head on over to mywifecoderjob.com and sign up for my free six day mini course. Just type in your email and it’s sending the course right away. Thanks for listening.

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517: Breaking Updates With Google, AI, Amazon And More With Toni Herrbach

517: The Latest News With Google, Ai, Amazon And More With Toni Herrbach

I currently run two podcasts My Wife Quit Her Job, and Profitable Audience with my partner, Toni.

Recently, Toni and I decided to pool our resources together and merge Profitable Audience into My Wife Quit Her Job. So from now on, this podcast will have a new segment to the show called Profitable Audience, where Toni and I will riff about content creation and making money online, just the two of us.

In this episode, Toni and I discuss the latest news in the online business space for 2024.

What You’ll Learn

  • Recent changes with Google and AI
  • NYT sues OpenAI for copyright infringement
  • Breaking news with Amazon

Sponsors

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Transcript

00:00
You’re listening to the My Wife Quitter Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Now you all know that I currently run two podcasts, this one which is called My Wife Quitter Job and my other podcast called Profitable Audience with my partner Tony. Well recently, Tony and I decided to pool our resources together and merge profitable audience into My Wife Quitter Job. So from now on,

00:26
This podcast will have a new segment to the show called Profitable Audience, where Tony and I will riff about content creation and making money online, just the two of us. But these episodes will be in addition to the regular interviews that I normally conduct on the show. But before we begin with this first episode, I want to let you know that tickets for the 2024 Seller Summit are now on sale over at sellersummit.com. The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online.

00:55
And unlike other events that focus on inspirational stories and high-level BS, mine is a curriculum-based conference where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business, entrepreneurs who are importing large quantities of physical goods, and not some high-level guys who are overseeing their companies at 50,000 feet. Now, I personally hate large events, so the Seller Summit is always small and intimate. Every year, we cut off ticket sales in around 200 people, so tickets sell out fast.

01:24
and we’ve sold out every single year for the past eight years. Now, if you’re an e-commerce entrepreneur making over 250K or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The Seller Summit’s gonna be held in Fort Lauderdale, Florida from May 14th May 16th, and tickets actually go up in price this Thursday. And from here on out, they’re gonna go up in price every two weeks. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at

02:18
Now onto the show.

02:27
Welcome to the My Wife Quitter Job podcast and a new segment to the show called Profitable Audience, where my business partner, Tony and I discuss all things related to content creation and building an audience. And in this episode, Tony and I are going to discuss the latest news in the online business space for 2024 because a lot has changed. So we haven’t told each other what we’re what our topics are. Yeah. So this could be a crapshoot here. I don’t think so. I don’t think so. I don’t think we subscribe to the same publications.

02:57
We probably don’t. You’re probably going to be talking about, I don’t know, lifestyle stuff, and I’ll probably be talking about tech is my guess. Wow. Wow. If that’s not an Oscar snub. I don’t know. Is that true? I don’t know. I’ve got some tech stuff. Okay. All right. So you want me to start or you want to start? I’ll go first because this is an interesting one. And we actually just released a podcast on Tmoo a couple of weeks ago when you’re listening to this. And I just read an article yesterday that said Tmoo’s ad spend jumped

03:26
1000 % in the last like six to nine months, which is not surprising considering, you know, the episode that we did where we talked about how they’re just like blasting basically right now everything. But what I did think was interesting about that information is that 76 % of that ad spend is on social media. I believe it. Do you know, is it Instagram or TikTok or? They didn’t say.

03:54
But they basically said, you know, their big non-social spend is going to they’re going to do another Super Bowl commercial this year. They did one last year, which I don’t remember. I don’t know if you saw the Super Bowl commercial for them last year or not. I actually don’t even remember who played in the Super Bowl last year. Because I only watch for the ads. Didn’t the Chiefs beat the Eagles? Oh, the Kelsey brothers played each other. Yes, I should remember that. So anyway, so they’re going to do another Super Bowl commercial this year.

04:19
But then the majority of their ad spend will be on social media. The other interesting thing that they said is when Tmoo advertises, they don’t focus on a particular product. Like they’ll do a carousel ad with like a headband in one frame and a drawer organizer in the other. So there’s like, it’s almost like absolute chaos, right? I see their ads in everything, everywhere I go actually. So.

04:46
I don’t see their ads a ton. What’s funny, I don’t see them on social media. Where I see them is like in a sidebar on like a news site. That’s where I tend to see like maybe it’s retargeting because I have been to the website a couple of times. I see them on TikTok. I see them on Instagram. I see them on YouTube. Like some crazy Chinese lady with a bad accent comes and talks. I guess that works. OK, total side note. But have you seen the crazy Chinese lady on social media?

05:14
who does product reviews where she literally like holds the product up, throws it down and slides it. And then the next product appears. No. So she’s got millions of… I didn’t see her on TikTok. I heard about her from a site. Basically this girl has gone completely viral and she doesn’t even talk about the product. She literally will like take a purse. She’ll hold it up like aggressively, slam it down and throw it to the side and grab the next product. And in each video she does like eight or nine items.

05:44
Um, which just goes to promote them or I mean, I don’t know, but I guess it just goes to show you that having a shtick, like doing your own thing, like, cause like everyone’s like, Oh, everyone does product reviews. Everyone talks about stuff on Tik TOK or Instagram reels. Well, not everybody’s doing this, like this aggressive, you know, and she’s like this tiny little Asian lady. She’s like hurling products to the side. Right. So anyway, just goes to show you that if you have a unique take on something, you can still be successful.

06:13
So Tmoo is losing like $30 in order. Yeah. According to this article on the Wired, this is an older article. It’s like May of 2023. But yeah, they’re just trying to take over the market. I actually have a couple of YouTube videos coming out on Tmoo. You know what’s really funny is Tmoo has been reaching out to me a long time to create a video for them. And so finally I was like, all right, let’s see how much they’re willing to pay. And so I say, okay, I’ll do it for $10,000.

06:43
And then they said, well, our budget is not that high. Can we give you a whole bunch of Tmoo products? Can we give you 872 Tmoo products, which equals a thousand dollars? Yeah. So, but what’s funny is I am coming out with a Tmoo video, but it’s probably not going to be what they’re expecting. Well, they’ve already emailed you once.

07:10
But no, what I’m saying is they’re not gonna, they wouldn’t be willing to pay for this type of video that I’m putting out. Right? Just because the content is going to be unbiased and. Yeah. So the one thing I was thinking, I was thinking to myself, so Timo is spending a lot of money on ads. Seventy per six, seventy six percent of that is going to social media. Should we look at that and go, OK, should we be moving our ad spend to like social media? Right. Tick tock shop or tick tock ads, Instagram ads.

07:38
And then I thought, I don’t know if I would follow what Tmoo is doing because right now they’re in a bleeding money phase, right? Like they’re in a throw money at everything. So if you’re listening to this and thinking like, oh, well, Tmoo is doing it. Maybe I should try it. I wouldn’t take that advice. I wouldn’t do anything that Tmoo is doing unless you have just a gigantic budget. Yeah. And they’re just going to drive the ad costs up. Yeah. Yeah. Yeah. Actually, you know, what’s funny is like Tmoo is literally advertising for every single product under the sun. Yes. For all of my search terms.

08:08
On Google, I see Tmoo now. So they’re just like blanketing every single demographic, I think, every vertical. Yeah, I would agree with that. But we’ll see. We’ll see what happens. It’ll be interesting to see in like two or three years what happens. I don’t know if I released a podcast episode on this yet, but people are getting a little pissed that China essentially or Tmoo doesn’t have to pay any taxes, import taxes or sales taxes, because everything’s coming directly from China and it all falls under

08:36
less than 800 bucks, which means they don’t have to pay taxes. Right. And people are getting pissed, right? Because it’s basically destroying a lot of these commodity type businesses. Yeah, for sure. think I yeah. Okay, so my piece of news is about a week old, think, at this point, but New York Times is suing OpenAI for copyright. Okay. Because they claim that OpenAI has used New York Times articles to train it. And they’re suing for

09:06
billions of dollars in damages. This is interesting to me because depending on how this case goes, it could really affect content creation. For example, if OpenAI, I’m sure they’ve crawled my site because I can say, hey, write this in the style of Steve Chu and they know who I am. So clearly they’ve crawled my website, right? If they lose, if OpenAI loses, that might mean that you can charge

09:34
to get your content crawled by AI and maybe potentially get compensated for it. But if they lose, then I guess nothing happens. But I’m pretty sure this case is probably going to go on for a very long time. I can see this case going to the Supreme Court. And there’s still that case of, I think it was earlier last year, middle of last year, artists were suing Mid Journey and other AI image creation tools because they’re stealing the same

10:03
style or likeness of art. I think that one’s a little harder to prove. I don’t I think this is going to get really, I don’t know what the word, I want to say the word swampy because that’s what it reminds me of. Like I feel like it’s just going to get really gross with like people coming after AI for, for content. Because if you think about like, think about books, right? People write a work of fiction or nonfiction, right? Like, you know,

10:33
You wrote a book. It took a long time. was a lot of work. You know, you’d probably be pretty ticked if your book came out like the AI version of your book, right? Like if because that’s AI just can copy other people’s things, basically. Right. It’s verbatim, right? I not verbatim. But it’s like the ideas and everything else is like this. The spin that you put on something can be copied. Right. It always has been someone just had to. It was a lot more work before. Right.

11:02
Yeah, I’m just thinking like, is anything really original these days? Right. Because then that brings up like the whole I’m probably going to botch this, but like wasn’t 50 Shades of Grey like fan fiction from Twilight or something like a lot of like big series and books came from fan fiction from other books. Right. So it’s like this is this has already been happening for years and years and years. It’s just like how much of your own uniqueness are you going to put on something?

11:32
to then make it yours. I think the problem with AI is there’s a lot of people out there that get information from AI and don’t put any spin on it, right? It’s basically like copying word for word at that point. You lost me at Twilight. Sorry. So I think I could be getting the series wrong, but I think Fifty Shades of Grey was a fan fiction book about Twilight where it’s like.

11:59
Fan fiction is basically where they change the characters and the scenery, but the entire plot and everything is the same. it could be the wrong book, but basically some of these really huge blockbuster books that have been made into movies and made all this money started out as fan fiction from a book that was written before. And all they did was change the main characters. So it’s not vampires, it’s something else kind of thing. So it’s not much different today.

12:28
except for you did change the characters, you did change the scenery. Now the thing is set in outer space versus this or whatever. So that’s where I think it’s going to get really ugly because we’ve already been doing this, but it felt like a little more creative. Now it feels zero creative, right? It’s just like, let me plug this in and then spit out this information and then just use it. You know, it’s funny is Jane, my wife, Jen’s been complaining that all the books she’s been getting from Amazon now.

12:58
Yeah, crap. She uses Kindle Unlimited a lot and she’ll you know, she’ll try new authors, but she suspects that AI is generating some of these stories and which is 100 % totally crap now. Yeah. Huge problem. So yeah, so I just feel like it’s going to get worse and worse, right? Because the problem is now people are just using it as a shortcut and not actually putting their own spin on anything. So along those same lines, since we’re talking about AI, you know, Chinese sellers on Amazon are using AI to create

13:27
Amazon listings. Right. And there’s products on Amazon now that say that are titled, I cannot fulfill this request. It goes against open AI use policy. So literally they’re writing these scripts to list all these products on mass and they’re not even checking. Wow. The title. Right. See, that’s where the problem that’s where the problem comes in. It’s like it’s not even you’re not using AI as like a jumping board, you know, diving board off into something of your own. It’s just like literally

13:56
Copy and pasting. I mean, this is all done by a script, I’m sure, or a program that’s just mass listing millions of products. But I mean, is Amazon not even checking for this stuff? How can you have a title that says, I cannot fulfill this request? goes against OpenA. So I feel like Amazon should have just an AI tool that immediately puts down listings that have that in the title. There’s keywords in the title that immediately flag a listing. Yeah.

14:25
I mean, this is a huge problem. Well, speaking of another thing about AI, it’s interesting. don’t know if you saw this, but LinkedIn just announced that they were discontinuing their lookalike audiences. Oh, OK. OK, totally a clickbait headline, right? Because I mean, I don’t run ads, but I know you’ve run ads and my friend Andrew runs ads. I’m in the space. understand. Lookalike audience are really valuable.

14:51
Right, like because it allows you to target people that are very similar to your current customers, right? They have the same, you know, profile qualities. So I saw this title on like six different places this week, right? And so, and I was like, well, I don’t really care about LinkedIn, so I’m not gonna read it. But then when we were like, hey, let’s talk about news, I’m like, well, this might be interesting, right? Like why is LinkedIn doing this? You know, our friend Chase is like crazy growing LinkedIn, talking about how you should be using it, all this stuff. So I was like,

15:20
Well, it sounds like LinkedIn is kind of growing. So why would they do something that makes no sense? Well, they’re discontinuing it because they’re doing predictive audiences, right? So now it’s all AI, like predict, they’re going to use AI to predict the audience as opposed to look like, which will probably in the end be more effective once they get enough data about people, although they probably have tons of data about people already if they’re LinkedIn users.

15:47
But that was in none of the headlines. It wasn’t like they’re getting rid of lookalike audiences to go with predictive audiences. It was like, they’re getting rid of lookalike audiences. I like, that’s I don’t actually understand the distinction because lookalikes is predictive. You’re finding a group of people that are similar. So I would think of it as like, so let’s just talk about a lookalike audience on Facebook. So you upload your group of customers.

16:15
they’re all 35 to 40, right? So Facebook is gonna pull people who are 35 to 40. They all are in toddler Facebook groups. So they’re all in, like, pull people with toddler Facebook. Like, they pull, so I feel like with AI, it’s just predicting people that are most likely to have that behavior of taking the next step. So it’s pretty similar, right? But it’s not, to me, it’s like they’re just kind of changing the verbiage a little bit.

16:42
So anyway, but I thought that was an interesting, very click baity news title because it’s like, well, they’re not really, and you can actually still use lookalike audiences on LinkedIn. They’re just not going to update that group. So it’s basically like whatever bucket of people you had when it sunsets, like February, whatever is going to be like, you could still use that bucket of people in May. It’s just not going to dynamically change. So they’re not going to add new people, you know, drop people off based on behaviors.

17:13
I just wanted to take a moment to tell you about a free resource that Tony and I offer over at Profitable Audience that you may not be aware of. If you are interested in learning how to make money with content, whether it be through blogging, podcasting, or YouTube, we put together a comprehensive six-day mini course on how to get started blogging that you should all check out. It contains both video and text-based tutorials that go over the entire process, including a full tutorial on how to set up your first content website. This course is 100 % free.

17:40
and you can sign up over at profitableaudience.com slash free. Once again, that’s profitableaudience.com slash free. Now back to the show.

17:51
So since we’re talking about advertising, Google just as of January 4th, eliminated third party cookies from the browser. I saw something about this. Yeah. So for anyone who’s listening who has no idea what that means, let me just give you a brief overview of just cookies. Like cookies are these little files that get placed on your browser to identify who is browsing. It’s literally like this little code. And that code is like an ID that you

18:19
can be used to look up like this huge database of all your information. A first party cookie is a cookie that is placed when you visit someone’s website and it’s placed by the website owner. But third party cookies are like, know when you see ads on like a blog, let’s say you’re on someone’s blog, that means another company, not the blog owner, but another company can actually insert cookies on your browser as well. Google’s eliminating the ability for

18:49
other companies, not the owner of the website, to put these cookies on your browser. Basically what this means and the implications of this really is that it’s going to hurt advertising. It’s amazing. If you were to ever look at the amount of cookies that are interested in your browser, you would probably be shocked. So prior to this change, you go on a website that has Google AdSense on it, for example. You’ll get like

19:15
cookies placed on from practically every single advertiser, whole bunch of different platforms outside of your own cookies. And that means like all these companies are tracking your usage across the web, assuming you don’t have cookies blocked. And what’s ironic about this is Google is the one eliminating third party cookies. And I think it’s smart on their part because they have a lot more information about the user outside of these cookies. So essentially, I think Google is strengthening their monopoly in the online advertising space.

19:45
I mean, they didn’t have to go through anything to do that. They can just make that decision. mean, they control Chrome, which is the most popular browser, right? Right. And traditionally, let’s say you were a different ad network that wasn’t owned by Google. You would rely on these third party cookies to do the tracking. Google is not allowing cookies, third party cookies anymore, but they own the browser. Right. So they’re cooking you all the time.

20:11
Well, they’re not using cookies probably. They’re just tracking directly through their platform. And they have Android also. Every website you go to, everything that you click, they already know. Right. So the way they pitched it though was like, yeah, we’re not going to let other people collect your data anymore. Just us. Yeah, exactly. Just us. So then we’ll sell it to these other people for some premium. mean, Apple’s been doing that for a long time, right? So Google’s just.

20:39
taken a page out of Apple’s book, yet they still have all the information. Yeah, that’s a real bummer. We should have saved that till the end. Oh, it’s kind of that’s a kind of a deflating news story. Well, you were talking about advertising, so I know that. Yeah, I have more advertising stuff, actually. But so I’m curious because I actually don’t know this. Can you see where your cookies are? Yeah. Well, you can’t see the information. It’s really just an identifier.

21:06
But yes. Can you tell who’s cookied you somewhere in your… Yeah, you can. Yeah, you can to a certain extent. All you got to do is right click a web page and then click on Inspect, which is the debugger for Chrome. And then you can just look at your cookies and what’s stored for that. So they’re all in there? Yeah. For example, if you were to go to Bumblebee Linen’s, I don’t know if… actually haven’t checked recently if this has been reduced, but there’s probably like… I don’t know.

21:35
50 cookies if you visit because each one of my tools that I have on the site, Postscript, Klaviyo, all that, they’re all putting cookies on. But there’s not like a place where like I’d have, so if I went to Bumblebee Linens, I could see everybody that was cooking me from Bumblebee Linens. But I couldn’t, there’s no way to see like every place in the past week that’s cooked me. In the past week? Yeah, you can’t, I mean, these are just files on your browser and you can see them. You can see how many there are, yeah. Where?

22:04
in the debugger for the browser. But that’s only if like that only shows me what’s on from Bumblebee linens. It doesn’t show me from. Oh, you just mean in general Old Navy, which I was on, you know, three hours earlier. You know what I’m saying? Yeah. Yeah. I’m sure there’s a way to do it. I just have never tried to do that before. I would be afraid. I would be afraid like I because I I don’t mind being so I just feel like we do this for a living. I don’t mind being tracked and everything because I kind of want to see what comes up. Like I like to see

22:33
how my behavior influences what I see. since I don’t do anything, I feel like I don’t do anything interesting on the web. I’m not worried about like, oh, you visited this webpage. But I would be curious to see all the different third party I wouldn’t wanna know. Actually, since we’re talking about advertising, here’s a funny fact. You know how a lot of people are using ad blockers? Mm-hmm. Well, some people are using ad blockers for YouTube so they don’t have to watch the commercials. Mm-hmm. Right? So YouTube,

23:03
I don’t know if this is still the case because there was backlash for it, but YouTube was purposely slowing down their experience loading for people who had ad blockers. I’ve so okay, here’s where I get the hate mail. You can buy YouTube premium and have a premium experience where you don’t get ads, right? So it’s like to me, it’s like, you’re kind of skirting.

23:27
the system like with the ad blocker. So it’s like, you’re not going to have as good of experience. I don’t know, considering there is a premium model with no ads because you’re all this. This is where this is what’s always bothered me about the Internet and what’s bothered me about like, I don’t know, users of the Internet. I remember when I was blogging probably two or three years in and this is back when, you’re putting up a three, four, five posts a week.

23:53
Every post is like heavy content, right? Recipes, DIY projects, how-tos. And I would have people email me complaining that like, they had to have an ad or like, oh, well that’s in a fit. Like people mad about it, right? And I’m like, you would have to go buy a cookbook, you know, for $29 or you would have to go buy a manual to do this or you’d have to buy a cleaning how-to book. Like, especially before the internet was like as crazy as it is today.

24:23
It’s like, you’re complaining to me that you see an ad when I’m giving you all this information for free. Like that’s always bothered me because I’m like, I’m teaching you how to do stuff. Like you teach people how to do all sorts of stuff on my way of quitting job. Who cares if there’s an ad, who cares if there’s a way for you to make money from it? I think I mean, I agree with you, but I always think maybe I’m biased. I’m sure I’m biased because that’s what we do. But like.

24:52
If you need, like if I need something, so for example, we have this puppy, right? She’s good, but she probably, I probably need to get a trainer just to like work with her on some behaviors, cause she’s big. And it’s like, am I willing to pay a trainer to come to my house and train the dog? 100 % I am, right? But if I wanted to do it myself and read articles and go to like Kristin’s site, right? And read more articles on things like, know, pets and training and things of that nature, then.

25:19
that’s fine too, but then I’m saving probably $500 by not hiring a trainer. So I should be okay with an ad, right? It’s like, it’s an either or it’s not, you know, I don’t know. No, I, I, I agree, but just people have been trained, you know, to get free stuff. I know, I know. So it’s annoying, but anyways, they got a lot of backlash, so I’m not sure if this is still happening. I just thought it was really interesting.

25:49
I think they should do that because I just started making YouTube videos and let me tell you, it’s not easy. just made a, I made, I made a video this morning right before recording. My hands are still sticky from this video because I was making a chicken marinade and um, I

26:06
Of course, I’m making a recipe, but I’m doubling it because it’s for my family. And I have everything in a Ziploc bag with this marinade and I go like to zip it up, but I push pressure down on the bag and all the marinade comes out all over me, all over my hands. And it’s like oil and vinegar and all this stuff. And I’m, you know, as I’m filming myself, which of course I’ll keep in. Yeah, perfect. That’s like, did you do it That’s video gold! Yeah.

26:31
But it’s still, I like wash my hands like four times, but I can still feel it. So yeah, listen, if you’re making a video, you deserve to get some ad money. Cause it’s it’s a pain in the heinie. I’ve made like seven videos this week and I was like, wow, I’ll watch every ad happily for these people. That’s really impressive. You filmed seven videos this week. I have no audio issues. Thank God. So yeah. And now I have like six short.

26:58
scripts written, so I’m probably going to film those either today or tomorrow. So, but speaking of like using the internet to find information, I don’t know if you saw this, but TikTok is growing as a search engine with Gen Z. But what’s interesting is once again, the headlines were very misleading, only really in the categories of recipes, workouts and fashion, which is honestly what I think TikTok’s good for.

27:23
Like the recipes on Tik Tok are actually really, I mean, some of them are terrible. I can’t stand when they like put uncooked pasta in a dish, but yeah, Jen, and whereas the boomers like zero desire to search on Tik Tok for anything. So I actually use Tik Tok now to search for problems and solutions. So our heat press actually just broke yesterday and it gave out this weird error code and

27:49
I couldn’t find like all the search results in Google were crap. They were like affiliate sites saying, this is the best thing ever. That was another piece of news by the way. Oh, okay. Yeah. That one’s a big one. could do a whole episode on that one. But anyway, so I went on YouTube next and it was still kind of crappy, but people were just doing reviews and I didn’t want to wait, watch like a 10 minute video just to get a simple answer. Yeah. So I went on Tik TOK and there’s a whole bunch of people complaining about this same error.

28:17
And then different people had different ways to fix it. Some guy had to take apart his heat press. And then I just discovered that our heat press is still under the 30 day return policy at Amazon. So we just returned it. But the point is that TikTok had pretty good information and you don’t have to watch anything long. It gets right to the point. Well, that’s what Jen Z said is they like the digestible size of the content. So actually reading that made me think, OK,

28:43
Cause I was gonna do, so I wasn’t even gonna do recipes on YouTube. And then Andrea was like, you gotta do recipes on YouTube. They’re just such a pain. Like I am not a chef. I don’t need people telling me my knife skills are bad. I know they’re bad. So I was just like, I don’t really wanna do recipes. But then she talked me into it. But now that I just read that and I’m like, actually a lot of people use TikTok for recipes. And most recipes really can be presented to you in three minutes, know, a minute to three minutes. They’re not, my recipes aren’t complicated.

29:12
I’ll probably I’ll probably just see if my guy can cut him down. I don’t want to film him twice If it involves filming him twice, I won’t do it. So we’ll see I should do a last-minute recipes for dudes Like I made a chicken nugget pizza the other day. I was just gonna say is it your chicken nugget quesadilla? We JD’s seafood pasta with the gold

29:34
So what came up in my memories just the other day was when my son made the I always think of you he made the buffalo bites quesadilla So he took the whatever the Frank’s buffalo bite. So they’re the boneless chicken wings He chopped him up and then he used like sour cream Monterey Jack cheese and more hot sauce, of course, because he’s a boy

29:58
and like made a quesadilla with it. And it smelled so good. I came out of my office. Like I remember this when you made it a couple of years ago, but it was on TikTok. It was on a Facebook memory. was like, I remember that, that boneless quesadilla. I was like, if I liked hot, spicy food, that thing would have been awesome. little sour cream to dip it in. You’re good to go. Yeah. Yeah. So I mean, TikTok, you know, I’m going to try it. So we do have someone talking at Seller Summit about TikTok shop.

30:25
I’m going to try to get TikTok shop because I have a contact in the person who runs it. I’m going to see if they want to actually come to the summit, maybe as a sponsor to answer some questions because it’s growing like gangbusters. Yeah. Despite that setback where people were getting banned just for doing stupid stuff, I think that just happens in the life of any platform. Yeah. So this is funny. So I just happened to. So both my kids play volleyball.

30:52
And whenever you play volleyball, you have to travel to these tournaments and you actually get to know the parents pretty well. And so I met a parent who does AI video, literally like stuff that people are using for YouTube automation. And what is surprising, because I asked her about it, because I, oh, maybe I’ll give it a try. Like, I’m not going to do YouTube automation, but her service, which is called Rizal, actually will

31:22
take any script, create B-roll narration titles, and turn it into like a video. That’s pretty good that you’ve scripted. And also like if you, if you say any statistics, it’ll automatically like detect them and flash them up. the service is really good for podcasts also. So if you have two heads, two talking heads, it’ll literally change the picture to the person speaking. Interesting. And also do annotation. So

31:50
That one’s not released yet, but I can’t wait to give it a try. since we’re friends now by nature of this, she’s taking a couple of my podcasts and we’ll just see how goes. But it could save a tremendous amount of time in just editing. remember how I talked about Opus in Office Hours, a couple of that. Opus is a tool that basically generates AI clips out of your own existing YouTube videos. Her tool takes it one step further and, you know,

32:20
literally just whatever you type in and finds B-roll for you. And they have access to the largest library of B-roll. Anyway. that wasn’t like the whole piece of the news. Like it turns out that large news outlets are doing this too. Meaning they’re just having AI generate the content. Not a human and just posting it. And you would think that large media outlets would want

32:49
you know, they’re writers to write the content for these things. Yeah. But I think just right now it’s like the wild, wild west. Like anything that you throw up, you know, in quantity, eventually something’s going to hit. We’ll see. I know. I just found that surprising because I know that I would never put out pure AI content. I know. Unless it was just an experiment where I just generated like a thousand pieces of content and just posted them. Right.

33:17
But all these big news outlets, I’m not going to name any names on here because, know, she kind of told me in confidence, but big names that you’ve heard of are doing this. Meanwhile, the New York Times is suing. Yeah. Meanwhile, yeah, exactly. I was actually looking at my YouTube feed. It’s just the other day, probably a third of it was AI generated content on YouTube. And I think it’s because I watch

33:47
Actually, you have my YouTube account. watch a lot of sports sometimes, so sorry for messing up your algorithm. I watch a lot of sports stuff. And all these sports news things are now AI generated. I have noticed that about the sports stuff. And not only that, it’s false. I don’t want to bore anyone, but one of these videos I watched claimed that the Warriors did a trade when in fact they didn’t.

34:17
But it got me to click on the video. It got so that’s I think the problem is there’s a lot of stuff that’s not true. And now it’s harder to find what’s true and what’s not true. Yeah, it got me to watch the ad because you have to watch one before you get the video. And then even though I clicked away, they still got paid for that ad, right? Yeah. That was a depressing one, huh? So I have an interesting one. OK, all right. So the FTC just ruled that TurboTax

34:47
can’t advertise as a free service. Okay. So TurboTax is one of the shadiest. I’m not recommending TurboTax, but I, there’s an interesting point to this, but go on talking about TurboTax. You know, they make a lot of the, a lot of their money from TurboTax every year. used to work there. Oh, I didn’t know that. Yeah. She used to work it into it.

35:14
Okay. Oh yes, I did. I forgot that they own Termitaks. It was there before they actually started doing all the shady stuff. But they have a free version, but they hid the URL. They hid the URL so that you couldn’t find it. And the only thing you could find was the paid version. Well, apparently about 70 % of the people don’t even qualify to use the free version, which is why the FTC

35:43
has told them they can’t advertise as something that they have a free version because the majority of people can’t use the free version anyway. And so basically it’s a lie, right? Like it’s not free because you don’t, it’s not free for you. might be free for, it’s probably free for like every 19 year old that works an hourly job, right? And that’s it. It doesn’t live in a state that you have to pay state income tax. What I think is interesting about this is that,

36:11
I wonder if this will eventually trickle down to, and it probably won’t, right? Because these people are small. mean, TurboTax is huge, right? Like it’s a huge company. They run a million ads from January to April. But there’s so many marketers out there that advertise that you can come to something for free, but it’s like barely free, right? It’s like what you get for free is garbage. And then, you know, it’s an immediate pay. And I wonder if that will eventually trickle down into things like that.

36:41
I mean, I think we advertise a webinar. We don’t advertise. We promote. So we don’t even actually run ads. But we have a free webinar. But I believe that our free webinar, you could easily get started and start doing things and never sign up for our paid course and have success. And we know people who go to all the webinars and do things on their own. It’s very possible. Now, if you want in-depth handholding,

37:09
cheerleaders plus like every question you’ve ever wanted answered under the sun, you sign up for the paid version, right? Which is true for most things. But I wonder if this will ever trickle down on a lot of these, what I think are pretty sleazy marketers who advertise things as being free, but they’re truly not free. Yeah. Yeah. Turbo tax, man. You know what I don’t get about this country? And I’m sure there’s some shady deals in there somewhere, but the government wants people to pay taxes, right? They want them to do it right.

37:39
so they can get paid. So why doesn’t the government just put out a free tool? It can’t be that difficult. mean, I technically they do. put out the forms, but you have to have a PhD in accounting to do the forms. But it’s a paper form, right? Yeah. Oh, I totally agree with you. they should. Well, they should just simplify everything, right? Like it’s so complicated that it’s like you clearly don’t want your money. I’m pretty sure it’d be pretty easy to put together some software.

38:08
That’s like 75 % of what TurboTax does. Oh, 100%. And just give it away for free and it’ll probably encourage more people to file correctly or even file, right? Yeah. I don’t know. There’s just things, some things that are just, I just don’t get. So Intuit must have some deal with the government, some crazy deal where maybe the government’s getting paid. Well, now they can’t advertise it as a free service anymore. So, which has been their, that’s been their

38:37
of their marketing strategy for as long as I remember them being online, like advertising online. If you guys are listening to this, go ahead and Google TurboTax. This scandal has been going on for years. Yeah, they’ve been doing all sorts of shady stuff. It drives me nuts. Okay, my last piece of news is kind of depressing too. All of your news has been depressing. I’m trying to think if I have anything positive.

39:06
Well, okay. So Google Podcast is going away. Okay. I know that doesn’t affect I don’t know what Google Podcast is. It’s a podcast app to listen to podcasts. Oh, okay. Is it for Android users? It’s the one that I use, which is why so the three people that are using it are going to have to find another way. You can’t listen on Spotify? What do you use? use the Apple’s app. Okay. Yeah. Okay. I don’t like Spotify. Have you ever used Spotify?

39:37
Not to listen to podcasts, I use it all the time to listen to music. Okay, do you have a paid version or do you have a free version? yeah. Oh, you have a paid, okay. So I’m using the free version. Yeah. And it just constantly has bugs or stops, ads and whatnot. So it’s not really like a pure podcast experience. That makes sense. So yeah, I’ve had the paid Spotify app for a long time, mainly because

39:59
The main reason why I got Spotify was to have music to listen to while running or at the gym. And there’s nothing like an ad for like hemorrhoid cream that will slow your rundown. Right? Like it’s just, didn’t want, I was like, I just need to be able to listen to my playlist and be able to download it and not even think about it. And so it’s worth it. And I have like the whole family accounts. My kids have, you know, they can listen to stuff and all that jazz. So. those are the ads you’re getting. I’m getting hair loss ads and erectile dysfunction now.

40:27
Everyone gets the erectile dysfunction. They’re all over the TV. They’re everywhere. Like, do we just watch shows made for 50 year old men? that the deal? Okay. Let’s this on a positive note. Give me a positive piece of news. Oh, you need a positive note? Okay. This is kind of positive. had two. Actually, I’m to do one that’s not positive. It’s just information, but people need to know this. So by the time this podcast airs,

40:54
The new DMARC regulations will go into effect about having the unsubscribe on your email. So if you’re not in compliance with that, you need to do it like immediately because we’re already gonna be past the deadline when you hear this. But an interesting thing that I read this morning actually was for your spam rates, you want to keep it below 0.1%. So that’s your goal for spam and never, never, never get above 0.3%.

41:23
So if you’re looking for like a benchmark for your email list and what you’re sending, that’s where it needs to sit. Now, most people sit there just fine if you’re sending out good content newsletter type stuff. But if you haven’t ever checked that, this is the time to do it and then make sure that you are really culling your list before, well, now when you hear this, it’ll be done. Make sure you get those people that are non-engaged off your list. Yeah.

41:51
I mean, we didn’t do a good job of explaining all this stuff. I mean, we explained in the class, but Google and Yahoo are basically cracking down on email spam. and Tony mentioned DKIM, SPF, and DMARC. These are just technical terms for ways to authenticate the email to make sure that you were the one sending it. In the past, you didn’t have to implement these things, but today you do.

42:19
And this goes into effect, I believe February 1st. Yeah. So this will be out after that date. Yeah, this will be out after that date. in the event that you do any email marketing, you have to get that set up. And practically every email marketing company that I know has been just sending out mass emails. Yeah, you know about this for sure. But what I haven’t seen, because everyone’s talking about the spam, but no one’s given like a hard number. Like this is where you need to keep it. And then Drew Sinaki came out with something a couple of weeks ago.

42:48
about it, of course, him saying, but this is why you should use direct mail. And then I read something today on a reputable site. can’t remember which one I was reading, but so yeah, just make sure you’re in compliance with that. It’s always been 0.1%. You know, what’s funny is a long time ago, I used to send out emails in different chunks. I’d send it out to my most engaged and then all the way down to the least engaged. Yeah.

43:18
That’s the wrong way to do it. I just set it all in aggregate now because then like they look at the spam rates percentage wise, Percent. And by amassing everything together, the spam rate is always going to be lower. Yes. I do have good news to end on. OK, I forgot. And then I remembered again, I didn’t have it in my browser, so I don’t forget someone we know just started a newsletter and you must subscribe.

43:48
Do know who? Who just started and used it? One of our friends? good, good friends. You’re not talking about Chanel, are you? No, our friend Dana Jean-Zemes just started a newsletter. all right. It is called Gap Pond, and you can subscribe. She has no idea that I’m saying this. She’ll probably kill me. You can go subscribe to it at gappond.substack.com. Oh, she started a sub stack. Excellent. Yes.

44:14
And it is basically talking about her gap year that she took between selling her business and retirement. So she sold her business and she was like, I’m not ready to retire, but I don’t want to buy another business. I’m going to take a gap year. People take gap years all the time. So, and she has made no promises. She’s like, I don’t know how often you’re going to get an email, but it is very good. Highly recommend. I think anytime you can learn from someone like Dana, you should.

44:40
you should sign up and digest everything. So go subscribe, gappond.substack.com.

44:50
Hope you enjoy that episode. Now both Tony and I will do news episodes whenever something brand new comes out that could potentially affect the world of content creation. For more information about this episode, go to mywifequitterjob.com slash episode 517. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go over to sellersummit.com.

45:19
And if you are interested in starting your own eCommerce store, head on over to mywifequoterjob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

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In this 6 day mini course, I reveal the steps that my wife and I took to earn 100 thousand dollars in the span of just a year. Best of all, it's absolutely free!

516: How To Skyrocket A YouTube Channel To 180K Subs By IGNORING Best Practices With Rob Berger

516: How to Skyrocket to 180K YouTube Subscribers By NOT Following Best Practices with Rob Berger

Today I’m thrilled to have my good friend and mastermind buddy, Rob Berger on the show. Rob is the founder of Dough Roller, which is a top financial blog that he grew to 2 million visitors per year before he sold it for a large sum of money. 

After the sale of his blog, he decided to start a YouTube channel, which he’s managed to grow to 180k subs by defying every best practice.  Here’s how he did it!

What You’ll Learn

  • How to quickly build a popular YouTube channel from scratch
  • Why best practices for a YouTube channel don’t always apply
  • Why fancy video editing is not necessary

Sponsors

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Transcript

00:00
You’re listening to the My Wife, Quarter, Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Now in this episode, I brought on my good friend and mastermind buddy Rob Berger, who has managed to build a very popular YouTube channel without following any best practices whatsoever. Listen to this episode until the end to find out how he’s done it. But before we begin, I want to you know that tickets for the 2024 Seller Summit,

00:27
are now on sale over at SellersSummit.com. The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online. And unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based event where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business, entrepreneurs who are importing large quantities of physical goods,

00:54
and not some high level guys who are overseeing their companies at 50,000 feet. Now I personally hate large events, so the Seller Summit is always small and intimate. Every year we cut off ticket sales at around 200 people, so tickets sell out fast, and we’ve sold out every single year for the past eight years. Now if you’re an e-commerce entrepreneur making over 250k or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The Seller Summit’s gonna be held in Fort Lauderdale, Florida from May 14th to May 16th.

01:23
And right now, this is the cheapest the tickets will ever be. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur Yet, it’s actually available on Amazon at 50 % off right now. My book will teach you how to achieve financial freedom by starting a business that does not require you to work yourself to death. Plus, you can still grab my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube, and podcasting when you grab the book over at mywifequitterjob.com slash book.

01:52
So go over to mywifequitterjob.com slash book, fill out the form and I’ll send you the bonuses right away. Now on to the show.

02:05
Welcome to the My Wife, Quitter, Job podcast. Today I’m thrilled to have my good friend and mastermind buddy, Rob Berger on the show. Rob is the founder of Doe Roller, which was a top financial blog, which he grew to 2 million visitors per year before he sold it for a large sum of money. He’s been featured in Morningstar, US News. I believe he still writes for Forbes, MSN Money, Yahoo Finance, practically every financial publication. He is also the author of the book, Retire Before Mom and Dad.

02:35
But the reason I decided to have Rob on the show today is to talk about his YouTube channel, which is killing it. And what’s interesting about his YouTube story is that he’s basically defying all the best practices for a successful channel and is still getting a ton of views. And in fact, earlier this year, our mastermind group finally convinced him to make custom thumbnails. And with that, welcome to the show, Rob, how you doing? I’m doing well, Steve.

03:02
How are you? I am good. It was good seeing you at FinCon, albeit briefly, since you’re always mobbed at FinCon. Yeah. It’s always fun. And it goes by so quick and it just, it’s hard to believe it’s been so many years. And anyway, that just proves I’m getting old. Well, I mean, I think I’ve known you for a decade now or however many FinCons there have been. So yeah. Did you go to the first one? I missed the first one. I started going from the second one on. Okay.

03:30
That was 2012, yeah. Yeah, 2012. And I followed you for most of your journey here, but I’m actually curious and maybe the audience, fill in the audience, because I don’t typically interview bloggers on this show. Why did you start Doe Roller? Why did you sell Doe Roller? Why did you buy it back? And then what prompted you to start your YouTube channel? So I started Doe Roller in May of 2007. Actually, I think it’s a funny story. So I was still practicing law.

04:00
And I told my wife, said, I’m kind of bored with the law. She goes, get a hobby. And so I decided I was going to be a woodworker. And the reason I decided I was going to, you know, I guess build furniture or bookcases was because the house we’d moved into a few years earlier had a workshop in it. And so I started on the internet looking for, know, I built a workbench. I’m all in for this woodworking. I’m buying tools, at looking at a table saw. And somehow I stumbled across

04:29
a personal finance blog. don’t know if you’ve ever seen it. It’s called the 2 million blog. No. And I think it’s, I think it’s still up. I never met the blogger, but that, that led me to like get rich slowly and five cent nickel and consumerism commentary and bargaining, all of those sort of early day personal finance blogs. And I said, you know, this is awesome. They’ve built a website. They’re making some money from it. love personal finance and investing. And unlike woodworking, I’ve got probably a near zero chance of cutting off my

04:59
My finger. So I said, okay, woodworking is out. And I started a personal finance blog. You grew that thing to insane heights. I mean, what was your strategy back then for doing that? Was it all SEO? How were you getting your traffic? It was entirely SEO. I’ve never really focused a lot on social media. As you know, eventually I started a podcast that, you know, that was part of the blog.

05:24
Yeah, it did great. was a lot of fun. The Don’t Roll Our Money podcast, that started in 2013. And then by 2016, I’d retired from the practice of law, running the site full time. And kind of out of the blue in 2017, a couple of different companies reached out to me about buying the site. And I got the kind of offer that I just couldn’t refuse. And so in February of 2018, I sold it to a company in Tel Aviv.

05:55
And at the time I thought, okay, I’m done. I had no plans to, certainly no plans to ever buy it back. No YouTube plans. I thought I was truly retired. I ended up going to work for Forbes as the founding editor of what they call Forbes advisor, which was totally out of the blue. I did that for a couple of years. then- I remember I asked to contribute and you said, oh yeah, yeah, yeah, yeah. But then you stopped returning my calls.

06:23
Yeah, it just, you, just kept pummeling me with calls and I just didn’t want to hear it. No. Um, I think I referred you to my editor cause I don’t, I don’t have any control over the contributor network. Are you, do you write for Forbes now? No, no, no, I don’t. I don’t. I, I didn’t think I was ready to actually take on that. Yeah, I agree. Yeah. But, but I can hook you up if you want to. No, no, it’s okay. It’s okay. I just thought I’d bring it up publicly on the podcast. Yeah, that’s nice. That’s nice. Uh, anyway, so.

06:52
I published my book and then I decided the idea of doing video sounded fun. My non-competed, it expired. so in 2020, right in the middle of COVID, it’s like, what else am I going to do? So I started a YouTube channel and that’s what I did. And I enjoy it thoroughly. It’s probably the most fun I’ve had between blogging and podcasting and writing a book and whatever. The YouTube channel is by far the most fun.

07:22
fun to talk about it. We obviously will go into the details, but, then earlier this year, the company that bought my site, they bought a bunch of others. They, they had not done well. They did well at first, but more recently they had not done well. So they basically sold them all back to the, the, the, for the most part to the founders. And, um, obviously there was sort of a different, different valuation model at this point.

07:48
And so to me it was just I could get it back at a very reasonable price and so I did and I’ve got a team helping me sort of basically scrub every single page on the site and that’s gonna be a Pretty lengthy process, but that’s been fun. It’s been a little little more work than I anticipated, but that’s okay

08:09
And now I’m on your show. so life couldn’t be better. That could get you from 07 to 23. There you go. What’s funny is you now own a lot of those early personal finance blogs that inspire you to get started. Yeah, it’s true. And I’m in the process of shutting them down, I’m afraid, but such is life. Well, you’re combining them. I wouldn’t call it shutting them down, but that’s Yeah, that’s fair. Yeah. All right. Let’s move on to this YouTube channel because you shot out of a cannon with this, with your YouTube channel.

08:38
And you said you started during the pandemic. What are you at? Like 130 something thousand subs. see the plaque in the background. Yeah. I’m actually looking at my, my YouTube studio. I’ve got 136,575 subscribed. Wow. That’s a lot. And you achieved that number fat much faster than I did. It took me about three years to hit that. You know, I suppose, but for folks watching, I would say it’s slow when you start. It just is.

09:07
It’s not like, you you publish a few videos and all of sudden you’re getting thousands of views and your subscriber, subscriber numbers are jumping up. You really should expect, you know, you’re going to get, you know, 25 views on a video, a hundred views on a video. You know, you’ll look at your subscriber count. won’t seem to be going up and you just got to expect that that’s the way it is. And you got to keep grinding and just keep putting out videos, the best content, you know, for whatever your goals are and your audience and what you’re doing.

09:35
Once it gets going, know, yesterday I’m looking at my stats. I published a video on is buy and hold investing dead. Now, prop, perhaps not the sexiest of topics that you’ll find on YouTube at any given point, but for my audience, you know, it’s a pretty important topic and it came about for a variety of reasons, but I’m looking at it now. It’s got 22,000 views. Yeah. Which is great. Um, but you know, two years ago, I would have never gotten.

10:05
I might’ve had 200 views, right? So you just gotta stick to it, gets grinded out, and eventually it’s kind of like a snowball and it really sort of takes on a life of its own, but it doesn’t happen overnight. I mean, just walk me through your process. And now you probably went into this goal, I mean, you’re already financially retired for the most part, and this is just a fun project for you. So I, and maybe I’m putting my words in your mouth here, but did you start this project saying,

10:34
Hey, I just want a very low maintenance way to basically publish videos on a YouTube channel. Pretty much. mean, well, in terms of my process, I can describe that. But in terms of starting the YouTube channel, was just this should be fun. Yes, I can make some side income. That’s nice. But I’ll do something that I enjoy. That was about the, that’s about how much thought I put into it as a business model. Yeah. And then I remember when I looked at your channel for the first time, I’m like, you don’t even have a thumbnail.

11:00
And you don’t do any editing at all. It’s just you in front of the desk that you are. Well, different desk maybe, but no, this is the desk. Yeah. And then you just film it. And that’s it. So, yeah. So when I started the channel, I didn’t know anything about how how I should do this. And I remember it was driving me crazy trying to, you know, just me in front of a camera like it’s basically it’s what you’re seeing now. And it’s not hard to put that together. But when you don’t know what you’re doing,

11:29
You don’t know what equipment to buy, what your lighting should be. I had a terrible time getting the sound to be okay, the lighting to look okay. I don’t have to be great, just okay. And so you’re spending all that time, that’s the first six months, just trying to figure that out. And then you’d look at other, in this case, personal finance YouTubers, at least I did. And my takeaway was you got to have the crazy thumbnails where the person looks like they ran over a dog with their car. They’re doing that or whatever, because that’s what YouTubers do.

11:58
And have to have a lot of cuts in your video because you’ve got to take out the ums and the uhs and it’s got to move quickly because people don’t have much attention span and some of them have the background music playing. You got to maybe that. And so that’s kind of the path I went down because I thought, you know, that’s just what you have to do. That’s what you do. And I was miserable. All this post-production editing of the video, I hated it. I absolutely hated it. So finally I just started to question everything. Why do I need a thumbnail?

12:26
You don’t need a thumbnail. Google will let you publish a video without a thumbnail. Now what it will do is pick a frame from your video. it tends to, for me, it tends to pick, you know, some frame where I’m like doing this, looking off to the side and that’s my thumbnail, but whatever, what I care. I thought I’m not going to edit anymore. I’m going to record it like this. And I’ll, I do put it in Final Cut Pro and I hit a little button that enhances the audio.

12:54
I lop off the front of the video, the excess and the end of it, upload. That’s it. And part of it too was that some people, there’s no right or wrong here, right? There’s different ways to do it. But some, would call it more of a performance that it’s heavily edited. They edit out any errors and it’s quick. It’s a production. For me, I think,

13:20
My videos are not unlike what we’re doing right now. I view them more as a conversation with my audience, right? When you’re at dinner with friends and you’re talking, you don’t edit out, you know, the things you get wrong. You just keep talking. You keep having a conversation. And so that’s kind of what I thought I would do. Part of it could be my demographic. know, the majority, I’d say at least half of my audience is 50 or older.

13:46
They’re not looking for a young 24 year old with a heavily edited video to tell them how they should manage their investments in retirement. So part of it I think is the demographic, but yeah, that was it and it just worked. And I thought, this is great. I can do less work and get better results. So there you go. Now, today I do a little thumbnail, but it’s not much. It’s just me, picture of me with like three or four words put on it.

14:13
Throw it on, throw them on in Canva. It takes me about 60 seconds and that’s my thumbnail. Did your audience start growing or your channel start growing faster when you stopped editing?

14:27
I think it did. Now, you know, the cause and effect there is always a tricky thing. One of the things though that I think the positive is I can do a video very quickly. Right. So I’m working on a video now, you know, there’s in the financial world, everything seems to be in flux, right? We’ve got inflation, it’s high, it’s a little bit lower. Interest rates are changing. We’ve got war in different parts of the country.

14:50
So I’m going to do a video on things that don’t change. Amidst all of the chaos and the change, there are some fundamental investing principles that in my view never change. Simple straightforward video. I can record it in 20 minutes when we’re done and have it uploaded within the hour. And so that helps me a lot. Just get through and get the videos up. I’m not trying to play a volume game where I produce tons of videos every week.

15:18
I don’t, you some people I talk to, spend a couple of days just with a script. I don’t do a script. I don’t have a script. I don’t read from anything. That’s why I just going ask you. So you just kind of go in cold and you flip on the camera or do you already have like an outline of what you want to say? Just like our conversation now. I rarely, rarely do an outline. Sometimes I will if just there’s one thing I just don’t want to, I’m afraid I’m going to forget something, you know, a point. And sometimes I’ll just, you know,

15:48
jot down a few notes on a card. And I don’t mind the audience seeing it, right? Might even point it out, right? I got a card here with seven good things to know about whatever. So sometimes I’ll do that, but most of time I don’t. I will show my computer screen a lot, which is here to my left. And I can just hit a button here on my monitor. I can do it now. There you go. You see my computer screen. So there’s no post-production editing. gets filmed that way.

16:18
And so if I’m going to show them whatever eight tabs could be a financial tool, article I found, whatever, I’ll kind of line them up in the order that I’m going to talk about them. And so they kind of act like an outline for me. Uh, but yeah, I don’t, other than that, no, I don’t have a script. I don’t normally do an outline. That’s a, that’s incredible. I’m just thinking to myself now. I I don’t know. You don’t take an outline to dinner with you so you can talk to your friends. It’s that kind of concept. You know what I mean?

16:46
Hang on. What’s going on in your life? Hang on. I’ve got I’ve got seven things I want to share with you tonight. Dinner number one. Well, you know, what’s funny about this particular episode is usually I have an outline for these interviews. But with you, I don’t I don’t have an outline just because I know it’s not going to great. You’re doing great. You don’t have an outline. You don’t need one. All right. So your YouTube channel is kind of more like a video podcast in a way, right?

17:17
In a way, yeah. mean, yes, there’s some similarities there. Which begs the question, you stopped the Doe Roller podcasts. Could you use the same content that you use on YouTube on your podcast and would that work well? So a lot of people want me to take the YouTube videos, strip out the audio and just publish that as a podcast. And I do that for the Rob Berger show on YouTube. I have someone that does it for me.

17:45
It’s kind of a hassle, even though someone else does it for me, it’s kind of a hassle in the sense that it’s just another thing I’ve got to think about and I’d rather just not. If you’re trying to build a business and make as much money as possible, you can literally work 24 hours a day. There’s other, I could write more books. I could build an online course that I think people would probably buy. There’s always something more you can do.

18:14
You know, but you got to sort of balance your time out, you know, and what is it you want to do? And then people say, well, you know, you can hire assistants and have all these people around you doing all these things for you. And then you can optimize. Yeah. Or I could just go to yoga and practice yoga for an hour. That’s what I prefer to do. You know, I played a game of chess before online speed chess before just 10 minutes before we started our call. know, so to me, it’s just a balance. But yeah, I do have

18:43
a Rob Berger podcast that we upload the audio from. I tell people, just listen to the YouTube. You don’t have to watch the video. You can listen to YouTube in your car. But I do get that some people just prefer a podcast format.

19:01
I just wanted to take a moment to tell you about a free resource that I offer on my website that you may not be aware of. If you are interested in starting your own online store, I put together a comprehensive six day mini course on how to get started in eCommerce that you should all check out. It contains both video and text based tutorials that go over the entire process of finding products to sell all the way to getting your first sales online. Now this course is free and can be obtained at mywifequitterjob.com slash free.

19:30
just sign up right there on the front page via email and I’ll send you the course right away. Once again, that’s mywifequitterjob.com slash free. Now back to the show.

19:42
So why do you think your channel works the way it does? It’s so funny. I’m in a YouTube mastermind group and a lot of times, and there’s guys in there with like 5 million subs and whatnot, and they spend a lot of time on the scripting, the post-production takes almost all the time, thumbnail and title and all that stuff. And I can see why they’re successful, but to me, that’s very intimidating. I don’t have the desire to.

20:08
go that route, nor do I want to hire a team to do that. yeah. I think it depends on the channel. mean, can’t ever fathom my channel getting, I mean, I don’t know, can I get to a million? That would be amazing. 5 million, I forget about it. Part of it depends on your topic, right? So in the personal finance space, the channels that get

20:36
say more than a million subscribers. I’ll call it an entertainment value to what they do and they produce excellent videos. But my goal is a lot different than that. And if you’re going to sit down and do an educational video, which is really kind what mine are, it’s going to help people understand how much money you can spend in retirement without going broke.

21:05
and you’re gonna really get into the nitty gritty. It’s not the kind of video that’s gonna go viral, you know, and it’s not the kind of channel that’s gonna get 5 million subscribers. But what it is gonna get are very, very loyal subscribers. And so, you I went to the Bogle Heads Conference, if you’re familiar, you know, with investing conference, and I probably had 30 or 40 people come up to me and say, hey, I watch you on YouTube, appreciate it. We had a great conversation. The last two years, a big group has gone out to dinner.

21:35
I get tons and tons of email from folks. do a live show every other Monday night where people can ask me whatever they want. And that gets a lot of good response, a great group of people that watch it live, and then another 10 to 20,000 people that watch it the following week or so. And it builds a relationship with your audience.

22:03
that I’m not sure I would get otherwise. Let me ask you this. How do you build that relationship? Is it just through the lives or are you in the comments? So I do try to respond to comments, but as you probably know, after a while it’s impossible. But I do try to, you know, when I put up a new video a couple hours in, I’ll go through and look at the comments and try to respond. I do put out a newsletter every Sunday morning. It’s free. It makes a little bit of money.

22:33
Although it didn’t make any for the first year, it’s not really the point of the newsletter. It’s basically to share content. And most of the content I share is not mine, just content I find on the internet about investing in retirement. all of the subscribers to that come from the YouTube channel. That’s how I market the newsletter. And I get tons and tons of replies and I encourage people, know, reply back to the email. I may not be able to answer you, but I read all of all of your email.

23:01
So I think that helps build a relationship. The live streams build a relationship. So yeah, it’s kind of a little bit of all those things. On your YouTube stats, what percentage of your visitors are returning versus new? I have no idea, but I can look it up. Yeah, I think you have it right in front of you. That’s why I was asking. me- Well, it’s not, yeah, do have it. Yeah, it’d take me a second to get there, but- Yeah, yeah.

23:28
And while you’re looking it up, I’ll just tell you a minor for me. It’s like 70 % are new and 30 % are returning. I would imagine for yours, it’s probably flipped, right? Well, it looks like it just over 50 % are returning viewers. Yeah. In the last. This is for the last 28 days. Yeah, that’s pretty good. Incidentally, that’s like one thing I’ve struggled with, which is why I’m kind of asking you that question.

23:56
If you were to choose one thing that has allowed you to build community the most, would you say it’d be the lives that you do? Yes. And I’ll talk about that, but I’m just looking at my stats. The stats are, it’s interesting because it’s a little distorted. If when I publish a video, like I published a video on, um, actually I published three videos on Monday, which is very rare, but I had, um, you know,

24:23
A good 80 to 90 % of the views that day were returning viewers. So it’s only when I go days without any new content, the view, it’s actually, it’s, it’s more like 70 % are returning. Yeah. I think the live Q and A goes a long way. People like that interaction. Uh, it gives them a chance to, you know, ask me a question. mean, unfortunately, I never get

24:52
to the vast majority of the questions. there’s so many people on the live stream, I go for an hour and a half and I can only answer so many questions. But I do think it builds a relationship and a connection with people that they’re not gonna get otherwise. So I think for folks considering the YouTube channel or that have one, it can be a little intimidating.

25:19
the first live stream, I was pretty nervous first time I did. I was nervous one, because what if I get this live stream going and only two people show up? But that’s easy enough. That’s like, yeah, well, then two people show up and they get to ask you questions and you just need to park your ego, you know, to the side. And if that’s what happens, what happens. It didn’t happen that way. But then the other thing that, you know, it’s like, well, am I gonna…

25:44
Am I going to look like a fool? Like, they going to ask me all these questions that I just don’t know the answer to and I can’t help, I can’t provide any useful information. And that by, mean, there’s certainly questions I get asked that I don’t have any helpful response to. But I think for the most part, I, I, it’s not that I have the answer to everything they ask, but I think I can point them in the right direction or give them some useful information. What is your post frequency? You mentioned you posted three videos on a Monday.

26:14
Well, yeah, that was unusual because I did a video, then I did a short, which I haven’t done in a while. And then that was also my evening. I did the live stream. So that’s why there were three. Oh, I see. before then I hadn’t done one in two weeks. Wow. OK, so that’s unusual, too. I like to at least do I do the live stream every other Monday. And then I like to be on that do at least one video a week. But, you know, part of

26:43
Part of the issue for me has been dough rollers taking up so much of my time. And I’m now fighting back to that, because really I don’t like working on dough roller. I want to work on YouTube. So in a perfect world, I would probably do two or three videos a week. And that’s what I’m trying to get back to now. And you count shorts as a video? No, I don’t. I would say two to three long videos. long for me is typically a 10 to 20 minute video. And then

27:11
Shorts have done well for me. I don’t do as many again. It’s that whole question of time and you know, but I’d like to do more because they’re fun. And again, I do them the same way. I don’t do any heavy editing. I record. I use the software just to cut off the front and the end and upload it to YouTube. And that’s it. And I’ve got a little schtick, a little, you know, format that I follow now for all my shorts.

27:41
because they’re only 60 seconds. you don’t have time to collect your thoughts. Yeah. Can you walk me through your process for creating the video? And I know part of this has to do with your talent and the way you speak. I mean, you’re a very polished speaker. I don’t hear any ums or ahs or anything like that. That’s the last compliment you’re going to get out of me on this show. Thank you. I’m going to play it on a loop on my computer. I can’t imagine. And this is, I’ve been doing YouTube for four years now.

28:11
I can’t imagine just flipping on the camera, talking for 10 to 20 minutes and turning it off without any prep. Walk me through your prep. Do you do any prep? Yeah, I do some prep. Sure. So like the one I’m talking that I mentioned earlier, I’m going to talk about the basic idea. I’ll tell you the title. My working title right now for the, my next video is something like the seven golden rules of successful investing that never change. Right. And to me, this is an important video.

28:40
Because you’ve got to be well grounded. can’t just let the daily news throw you about, oh, should I sell? Should I invest in crypto? How about this and back and forth? You got to be grounded. And amidst all of the chaos in our world, I think there are things that you can hold onto that don’t change. Right. Okay. So that’s the idea of the video. I’m holding a card, by the way, that doesn’t really say anything on it. It’s actually got one line on it, but anyway.

29:10
Uh, so I’ll probably write the seven things on this card. Uh, and one, like one, the first one will be that successful investing is long-term. You need to have a long-term mindset. And I’ll just talk about that for a minute. Right. And I won’t, I won’t have more preparation than that. Like I won’t script out what I would say. Okay. So for me, it might be something I’ll just, I can do it now. So, know, so that’s what that’s saying. It needs to be long-term. need to think long-term. need to think here.

29:39
We’re not talking years, we’re talking decades. And the reason for that is, you know, we go through economic cycles, that’s just normal. And that’s always gonna happen. We’re gonna have recessions, then we’re gonna have growth. We’re gonna be in times of war, in times of peace. These are just the things that happen in the world. You can’t avoid them, you can’t invest around them. And, you know, there’s gonna be times when whatever you invest in, it’s not doing well.

30:04
And if you allow that to cause you to sell or change your strategy, you’re going to end up much worse off than if you just stayed the course. So you need to think about investing 10, 20, 30 years. And in fact, as an example, Berkshire Hathaway, Warren Buffett’s company, it’s been around forever. People like to talk about how it’s made millionaires and billionaires. But you know, if you invested in it, you know, back in the sixties or seventies and held onto it, you made a lot of money. But did you know that at two or three different times in that time period,

30:33
It fell by 50%. So you actually only had that pot of gold at the end if you could live through those sorts of downturns. so number one, you got to think long-term. Amazing. Right. And then I’ll go to number two. just pulled all that out of your butt just now. Very eloquently, no pauses, nothing. You have such a way with words, mean, really, you can paint a visual picture that’s amazing.

31:01
No, that was really well done. if I stumble a little bit, that’s OK. In fact, I try to slow myself down. One of the mistakes I made at the beginning is I was in such a hurry because I felt that my audience was impatient. Go, Rob. Go, go, go, go. And it’s funny. I got to tell you, I think this is funny. At one point in Final Cut Pro, I thought, know, I do sort of talk on the slow side sometimes. So you know what I’m going to do? I’m going to increase the speed of the video.

31:30
before I upload it. But I’m thinking no one will notice I did it like 1.1 or 1.15 uploaded. mean, the comments were brutal. Rob, what do you do? What do you do? Speed up this video? What is wrong with you? And the thing is, is, you know, people can speed up the video on their own. They don’t need me to do it for them. They’re probably speeding up this interview right now. Probably true. People like to listen to me at 2x from what I hear.

32:01
All right, so Rob, let me ask you this. There’s some people listening out there that wanna start a YouTube channel. just given that you defied all the rules, or the best practices I should say that are commonly taught, and you always seem to find your own way of doing things, and it always works out for you, what’s some advice for someone just starting a YouTube channel?

32:22
Well, the first thing I would say is, you know, there’s all kinds of equipment and setup and all this stuff that you can do and it may or may not make sense for you. But I, my, I would, the focus would be on producing videos and getting them published. You can use your iPhone, just use your iPhone to start with. There’s a guy whose name now I forget, but I can find him on YouTube. He does retirement videos and he’s got his iPhone and

32:47
Every video is him walking somewhere down a path in the woods somewhere, just looking at his phone, talking. He’s got like 80,000 subscribers in just a few months. His videos get tens of thousands of views. So, you you don’t need all of the fancy equipment at some point. It may make sense. I’ve got some fancy equipment. You can’t see it, but, you don’t need it. So the focus should be on producing videos because here’s the thing. You’re not going to know really what you should be doing.

33:17
until you’ve been publishing videos for six months or more. You’re going to learn this as you go. There were plenty of videos that I published in the first year that today I would never publish. I wouldn’t publish the topic. It’s not relevant because I didn’t quite know what my focus was going to be. And even in the context of money, you know, I mean, there’s obviously a lot of different ways you can tackle that subject. And so

33:44
I think the first thing is to figure out the least expensive and fastest way you can produce videos and just start producing them and then kind of figure it out as you go. That personal finance YouTuber that you just talked about, does he use the Rob Berger lop off method of editing? Well, that’s a good for the Rob Berger. It’s got an official name. His videos are not edited that I can tell. Wow. Maybe there’s some cuts here and there.

34:12
But for the most part, at least, I mean, I don’t know that I’ve watched one of his videos literally from start to finish, but yeah, they’re not heavily edited. And then can you tell me what equipment you have? What did you start out with and what are you using now? Well, so I had some money to invest. So my first setup, a friend of mine helped me with it he was a videographer, but the problem is, the problem was he wasn’t a YouTuber.

34:40
So he kind of set me up like I was shooting regular videos. So I had all these fancy lights on tripods and the whole wireless mic thing that clipped to my shirt with the thing tucked in here to transmit the audio wirelessly. So I had to figure all that set up. I don’t do that now. have, it’s too bad I don’t have my iPad down here. could wait. I’ve got, I can’t, can’t show you. But in any event, I have two key lights here. They just attach.

35:07
to the desk. I got them at Micro Center for a hundred bucks. I’ll lift this up. If anything gets unplugged, I’ve got this video switcher, streamer, to mixer, I guess. It’s a Roland. And it allows me to just go from me to my computer screen. I can also connect an iPad to it or an iPhone and show that. And then I’ve got two computers. My iMac is the one that you see when I show what’s on my screen.

35:35
The other one’s just a gaming PC where I actually record the video. I do have a teleprompter. I don’t use it for a script, but I use it for things like this. So it allows me to see you while I’m also looking at the camera. If you were on my computer over here, I’d either just be looking at the camera or I’d be looking over here at you and then not looking at the camera. I do have a monitor. know if I can show you just a little. This just shows me whether I’m on camera or it’s the…

36:05
because sometimes you forget. And this, I can just look down here and say, oh, it’s me right now versus my computer. And then I have a shotgun mic right up here. I do have another- What is your shotgun mic? I can actually send you a link. Oh yeah, I’ll just post this. I know people are always interested in what gear- I do have the fancy microphone and I can turn it on. Now I’ve heard this one sounds better, but sometimes there can be a back- There’s a buzzing right now. Yeah.

36:33
I haven’t figured that out. Let’s not use that one. I use a Sony camera. Nothing fancy. Yeah, I think that’s it. I think I’m looking around to see if I’ve got anything else on the desk. I think that’s everything. I’ve got a mouse. Yeah, Tony and I, teach a class and we do cover YouTube. And I think there’s a lot of mental hurdles to getting started. And people usually spend a lot of time on the gear. And in my opinion, the only thing that really matters is the audio.

37:01
And I do use the wireless mic because I sometimes I actually I rarely move around, but sometimes I do. Yeah. And it gives me more freedom to do that. Yeah. My goal was to make things as seamless as possible. So for example, on my camera, I have one of those things you stick into the battery compartment, but you plug it in. Yeah, I got that too. I leave my camera on 24. My camera hasn’t been turned off in two years.

37:27
And so I can literally, I’ve got the mic, know, everything’s set up. I just come in here, I sit down and I can record. It’s that simple. That brief demo that you gave of some of your sample YouTube content. Yeah. It’s probably not something that 90 % of the people can do.

37:45
That may be. I everyone’s different. I mean, I will say that I was a litigator for 25 years. And so I didn’t actually try a lot of cases, a handful, but I took hundreds and hundreds of depositions. some lawyers will have these massive outlines and they’ll literally read question after question in a deposition. I don’t know how they do it. I was never that way. I would have documents that I wanted to ask the witness about, but I was just going off the top of my head, question after question after question.

38:14
So, you know, that training probably helps me a little bit, but like with anything else, it’s just a question of practice. And there are times when I’ll start a video and I’ll have to start at like nine different times because I mess up in the first couple of minutes. So there are times when I get frustrated and have to start over. just, some would edit that out, but that’s more work for me. I’d just rather start over. yeah, I do think the work as an attorney probably helped me.

38:45
I didn’t really think about it at the time, but probably helps me with my style of videos. I mean, that’s your superpower in my opinion. Let me ask you this. So if you could, let’s say double your views with the editing that you used to do and stopped, would you do that today or would you, you still wouldn’t? Okay. I wouldn’t do the editing. don’t know if I would maybe hire someone. Maybe, I don’t know. I don’t know that I would. Interesting.

39:10
Because then that’s process. I want to get the video published. Now I got to send it off. I got to wait. They get back to me in two days. It’s just a hassle. And I’ll tell you, I did an edited video once and it even had a little background music and my audience hated it. I mean, the comments were brutal. They want to have a conversation.

39:32
but you can’t have a conversation on YouTube unless you’re doing a live, right? Well, you can’t have a conversation like we’re having. Let’s talk about the content here. Are you asking questions? I’ve only watched a couple of your videos in its entirety. Are you asking questions and asking people to post questions and comments?

39:52
Well, no, I don’t normally ask a question. You’re talking about my regular videos, not the regular ones. No, I would say I don’t ask questions. I invite them. Sometimes I do. Sometimes, you know, like I did a video. This is for a different. This is for the door roller YouTube channel. I published a video today. Do remember Mint.com, the old budgeting app? Yeah, of course. You know, they’re closing down. I did not know that. Yeah, they’re having all their migrating all their users to credit Karma. Oh, my goodness. OK. I think it’s kind of weird. Anyway.

40:21
I did a video about that. And so at the end I asked folks, I gave them what I thought were good alternatives to mint.com, but I said, Hey, you know, I love learning about new apps. if you have any, if you use a budgeting app, haven’t mentioned, you think it’s great. Leave it in the comments below. Sometimes I’ll do something like that. haven’t checked the comments yet, but yeah. guess what I’m trying to ask is to your original question. I don’t think I would change my style just to get more, more views.

40:51
You keep mentioning having a conversation. What are some examples of that in your content or the way you kind of just structure your videos that are intentional for creating this? so one is the pacing of the video. You know, you’ll see a lot of videos where it’s a very fast pace cuts. They’re close to the camera. They’re farther away. Some B roll. That’s not a conversation. By the way, it can be a wonderful video and people might like those kind of videos more than mine. That’s OK. But.

41:20
It’s not how you talk when you’re out with friends having dinner. And so I like to try to make mine a little more, I guess conversational would be the way I would describe mine. Obviously, it’s just me in my basement looking at a camera. no, you day when I start to hear people talking back to me, I’m in big trouble. Well, what is your retention rate average? Just curious. I don’t know. You don’t know. Okay.

41:48
I can look it up for you. See, this is the interesting thing about different YouTubers. Some people are all over their stats and their analytics and what can I do? How do I keep them watching longer? I’ll talk about seven items, but I’ll tell them, you know, stay to the end because the seventh one is the best and all these sort of strategies. I, by and large, just don’t do that. It’s like, you know, watch the video if you want to. If you don’t, don’t. I know it’s refreshing and it’s working and it’s low energy, which is why I like it.

42:15
Well, I guess it’s not like I don’t have any strategies, but they’re just not all that advanced. don’t know. Let’s see. don’t even know where to look. By the way, a lot of the retention stats, so you got to be careful because a lot of them depend on the length of the video to begin with. If someone sees an eight minute video, they’re more likely to maybe watch the whole thing than if it’s 28 minutes. That’s correct. That’s correct. Yes. I got the answer right.

42:44
mailed it. What was the answer? Oh, no, the percentage. I’m still waiting for the percentage. I know what mine is. And I’m just kind of here’s the question, Steve. At this point, is anyone still watching this interview? Well, if they want to, I mean, we’re just having a conversation here. I’m following the Rob Berger method of the raw. That’s right. We are. I’ll show you the stat. This is my last video. Where do I go for retention audience? Probably. It’s engagement. So click on you don’t even have to look at your own stats. This is amazing.

43:14
Audio? Oh, it hasn’t, we don’t have data yet. You pick an older one. You gotta pick an older one. All right, hang on. too new. Yeah. All right.

43:23
Here we go. This is exciting. How and why to build a tips ladder. mean, who doesn’t want to learn about that? I don’t even know what that is. okay. Do know what a tips bond is? inflation protected security? Nope. Sorry. Maybe I should be following your channel. You don’t know what tips are, huh? Okay. I’m a T-bill and chill type of guy right now. T-bill and chill. Oh, that’s great. T-bill and chill. I like it. All right. Let’s see. Average view was six minutes. Average percentage view is 25%. 25%. Is that bad?

43:53
How long is the video? This video was I don’t even remember. It says right there. Oh, it does. Yeah. It’s a 20 something minutes. I can’t see that small and far sighted now. I don’t even see where it shows that it’s just in the upper like the thumbnail. See the thumbnail. Oh, you’re right. That’s funny. Um, this YouTube stuff is confusing. 25. Okay, yeah, that’s that’s what I’m good. That’s very good actually for a video that long, I think.

44:21
I can find a shorter one. Let’s find a shorter one. No, I was just curious. I don’t want to bore the audience with with with the ads too late for that. Yes. Let me ask you another question. What is your typical click through rate that you can see? You’re asking me all this data. Yeah, by the way, let me ask you a question. I’ll ask you a question and then I’ll answer yours. OK, in the context of YouTube, what does click through rate mean? It means your ability.

44:49
to maximize the amount of views on your channel based on the number of times YouTube shows your thumbnail to somebody. And this is why we’re trying to convince you to make custom thumbnails because that’ll increase the number of views, which is generally a goal that most people have when they start a channel. Well, here’s what I found. And I don’t know if I’m looking, I may have to look at an older one again, is that when I have a thumbnail that has words on it,

45:18
which is what I do now. That does have an effect on views. Shocking. But I don’t know that I, do I need to do anything else? Do I need the crazy thumbnail where it looks like I’ve just run over a dog? No, I think for your audience, which I believe is like people like my mom or even myself, maybe, I don’t know. I wouldn’t want to take financial advice from someone who does funny facial expressions, right?

45:48
I mean, I want someone I can trust. want someone with gray hair and a beard that talks very eloquently. Who’s got gray hair and a beard and two thumbs? This guy. So my impression click through rate on my current video is 5%. Okay. Our stats are actually quite similar. Okay. Yeah.

46:10
Now, I will say when my views, as views go up, I’ve seen click through rate go down. Correct. Because YouTube, I guess, is showing it to more and more people and they’re sort of moving beyond the obvious demographic or whatever of people that would want to watch it, I guess. I don’t know the algorithm, but. Yeah. Well, okay. A couple more questions. You mentioned before money is a vast space to be talking about, and you started out talking about different things. How did you hone in on the

46:40
on the topics that work? Well, that’s a great question. when I started, of course, you want views, you want subscribers. And so I was trying to create videos that I thought would get a lot of views. So this was in 2020. I did the stimulus check videos, the student loan forgiveness videos. And by the way, important topics, right? But they just weren’t interesting to me. I mean, you know, there’s a lot of important topics out there that I just don’t have any interest in creating videos for.

47:08
And I found myself creating them just because I wanted to try to get views. So finally, just said, it was kind of about the same time about the whole editing thing and thumbnail and all that. said, you know, forget that. I’m going to write, I’m going to do, I’m going to pick topics that I’m interested in that I think will be useful to people. Well, you may not have noticed, but I’m on the older side. so topics that are interesting of interest to me in finance have to do with investing and retirement planning for people in or near retirement.

47:38
That’s what’s interesting to me. And so I started producing videos on that. And then that’s how it just sort of over time, it started to work. People started to associate me and the channel to that kind of topic. And that’s what I do. That’s actually a really good answer. And you know what’s funny is we have a mutual friend that did stimulus check videos during the pandemic and that actually ruined his entire channel.

48:05
because all of a sudden he was attracting all these people with no money who wanted stimulus check information. That became the majority of his audience because those videos did so well and they’re not interested in investing. Yeah, there are some channels that did well with it that continued to do well after. Some didn’t. I mean, the issue is you can get a lot of subscribers pretty quickly if you have a few viral videos.

48:30
they may be subscribers who aren’t interested in the kind of content you want to create long-term. Because obviously a stimulus check video isn’t the kind of content you’re going to create for 10 years. Correct. And so you can have all these subscribers who don’t really have any interest in what your main topic is. So I, you know, that’s just sort of the way, I mean, in my case, I’ve had one viral, what I would call viral video. That’s it. So most of my subscribers have been built up, you know, relatively slowly over time.

49:01
You know, there’s something I’ve always really liked about you, and this is maybe the last compliment that I’ll give you, is that we go in these mastermind meetings, and we all talk about our strategies and whatnot, and even if there’s a strategy that’s working for almost everyone in the group, you always pick your own path, and you say, hey, you know, that might be work for you guys, but I’m just gonna go my own way, and whatever you choose always seems to work also.

49:29
Which just goes to show, I think, that you really have to find your own way in anything that you do and not just take one of these best practices as gospel. I I bet if you started following some of the best practices that other YouTubers teach for your channel, it would probably have a negative effect based on the audience that you particularly have, right? Yeah, I think it’s good to sort of question everything. Not for the sake of, the thing you want to avoid is you don’t want to question everything just because you want to be different.

49:59
Not that different is bad or good. It’s just, but question everything because you know, if you really spend some time looking around YouTube, you will realize that there is no one formula. There are some incredible channels that have huge followings that are just crazy. I would have never thought they would have worked. And that’s true outside the money space. It’s true within the money space.

50:28
There’s just a variety, there’s just a great variety of interests and what people like and don’t like. And, you know, I think if you’re as true to yourself as you can be, and there’s always some performance, right? I mean, but if you’re as true to yourself as you can be, one, you’ll enjoy the process the most. And you’ll find people that like what you have to offer.

50:55
I mean, you just will. mean, you may not have a channel with five million subscribers, but, know, can you build a channel that either helps support your business or if YouTube is your business that generates a full-time income? I think you absolutely can. And so if you can do that while doing it in a way that resonates with who you are, you really can’t ask for anything more. I mean, that’s like, to me, like the perfect sweet spot to be in. Yeah, Rob.

51:24
We’ve been talking about your channel a lot, where can people actually find this channel and follow you? Well, if you go to YouTube and just search for Rob Berger, you’ll find me. OK. If you look at any of my videos, you’ll see a link below to my newsletter. It’s free. It’s it’s it’s for primarily people interested in investing and retirement planning. What’s that? Which is like everybody, basically. It’s a lot of people. Yeah. Yeah.

51:50
I include a section in there that has stuff that I just find interesting that’s not related to money necessarily. But yeah, it goes out once a week. that’s probably the, those two, don’t, you know, I have a Twitter account, I don’t, I’m not a social media junkie. I rarely post on Facebook or Twitter or LinkedIn or, so those are probably the two best ways to connect. Cool. What’s ironic is Facebook is your demographic, isn’t it?

52:16
I guess it is. you know, when I do a live stream, I stream it to Twitter, LinkedIn, Facebook, even Twitch. I’ve got like two followers on Twitch. on Twitch. Amazing. Yeah. think the two followers are probably, they probably think I’m somebody else, but yeah. You know, when I stream, can, you know, I use different streaming services you can use, but they stream me to all those platforms. Yeah. Yeah. I’m on Twitch.

52:40
I want to have a Twitch account where I play speed chess. That’s a big thing actually on Twitch. Yes, I follow the Botez twins actually. Oh yeah, yeah. They’re a riot. I don’t watch a lot of their videos, but they’re very entertaining and great chess players actually, you very good. I mean, they’ve made chess really popular. They did. I think Nakamura did who’s the world reigning speed chess player. You Magnus Carlsen’s done a lot. Yeah, he’s got a social media presence too. Yeah, he does. I think it’s a little more well,

53:10
what you’ll find him doing. You can now find him on streaming his speed chess, which if you’re a chess player is a great thing to watch. You can actually learn a lot and his mind is just ridiculous. It’s just ridiculous. Yeah. His ability to play chess, but yeah. So, but so maybe I should turn my Twitch channel into a chess streaming thing, but in any event.

53:35
I don’t have time for that right now. I got to stay focused, Steve. I got to stay focused. Okay, here are my key takeaways for this episode, just for anyone listening. So one, stay focused. You could be doing a million things, but just do the things that move the needle the most. That’s the Rob Berger philosophy. The second philosophy for Rob Berger is just do what it takes to get the video out there. Don’t focus on the equipment or whatnot. Just focus on the process for producing videos on a consistent basis. And then figure out what works and then

54:05
on the topics that you’re actually interested in covering in the long run. Play the long game. Absolutely. Yeah, and you got to lean into what you like because whatever you start with, there’s going to be a point where it doesn’t seem like it’s working because this is a slow process to begin with. And what people end up doing is trying to change their approach too frequently. Stick with it for a year. Consistent videos.

54:30
That’s the only way to know if what you’re doing is going to work. You can’t do it for two months. That’s not going to be enough time. It’s kind of like investing. Kind of like investing. That’s right. Long term. Well, Rob, thanks a lot for coming on. I always learn something from you. Usually you give me more smart ass comments back. So maybe since we’re recording. to be nice today. But I appreciate you. I enjoy having in the mastermind group and meeting up with you.

55:00
once or twice a year. And I’m looking forward to the next one.

55:07
Hope you enjoy that episode. Rob’s story just goes to show that if you’ve got great content, you can grow a YouTube channel very quickly, even if you don’t follow best practices. For more information about this episode, go to mywebcoupterjob.com slash episode 516. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go over to sellersummit.com.

55:37
If you are interested in starting your own e-commerce store, head on over to mywifecoderjob.com and sign up for my free six day mini course. Just type in your email and they’ll send you the course right away. Thanks for listening.

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Ready To Get Serious About Starting An Online Business?


If you are really considering starting your own online business, then you have to check out my free mini course on How To Create A Niche Online Store In 5 Easy Steps.

In this 6 day mini course, I reveal the steps that my wife and I took to earn 100 thousand dollars in the span of just a year. Best of all, it's absolutely free!

515: How Ordinary People Can Build A 7 Figure Business In 48 Hours With Noah Kagan

515: How Ordinary People Can Build A 7 Figure Business in 48 Hours With Noah Kagan

Today, I’m thrilled to have Noah Kagan back on the show.

Noah is the chief sumo and founder of Appsumo.com, which is a nine-figure company.  He’s also known for his YouTube channel called Noah Kagan, which has close to 1 million subscribers.

In this episode, we discuss the exact steps to build a seven-figure business in a single weekend.

What You’ll Learn

  • How to build a seven-figure business in 48 Hours
  • How to grow a YouTube channel and get a million subscribers
  • The psychological barriers to getting started in business
  • Grab his book – The Million Dollar Weekend

Sponsors

SellersSummit.com – The Sellers Summit is the ecommerce conference that I’ve run for the past 8 years. It’s small and intimate and you’ll learn a ton! Click Here To Grab Your Ticket.

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Transcript

00:00
You’re listening to the My Wife Quit Her Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Now today I have my long time buddy Noah Kagan back on the show. And in this episode, we’re going to discuss the surprisingly simple way to launch a seven figure business in just 48 hours. Sound too good to be true? We’ll listen to the end to find out how. But before we begin, I wanted to let you know that tickets for the 2024 Seller Summit are now on sale over at sellersummit.com.

00:29
The Seller Summit is an e-conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online. And unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based conference where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business, entrepreneurs who are importing large quantities of physical goods, and not some high-level guys who are overseeing their companies at 50,000 feet. Now, I personally hate large events.

00:59
So the seller summit is always small and intimate. Every year, we cut off ticket sales in around 200 people. So tickets sell out fast and we’ve sold out every single year for the past eight years. If you’re an e-commerce entrepreneur making over 250K or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The seller summit is going to be held in Fort Lauderdale, Florida from May 14th to May 16th. And right now, this is the cheapest the tickets will ever be.

01:25
Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s available on Amazon right now at 50 % off. My book will teach you how to achieve financial freedom by starting a business that doesn’t require you to work yourself to death. Plus, you can still grab my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube and podcasting when you grab the book over at mywifequitterjob.com slash book. So go over to mywifequitterjob.com slash book.

01:53
Fill out the form and I’ll send you the bonuses right away. Now onto the show.

02:03
Welcome back to the My Wife Quitter Jaw podcast. Today I’m thrilled to have Noah Kagan back on the show for I believe the third time. He is the chief sumo and founder of AppSumo.com, which I believe is a nine figure company at this point that offers major deals on really cool software. But what he’s probably best known for today is his YouTube channel called Noah Kagan, which has been growing like gangbusters and will probably cross the 1 million subscriber mark any day now.

02:32
Now, if you’ve never watched any of his videos, go check out his channel right now because you will be entertained and you’ll probably learn something as well. And I’ve known this guy for almost 10 years now. And what I like about him is that he tells it like how it is. And he’s always trying and experimenting with new things. He’s got a book coming out called Million Dollar Weekend, which will teach you how to build a seven figure business in a single weekend. Sounds pretty outrageous. Well, he’s done it before. And with that,

03:01
Welcome to show. What’s up? Good to see you, Steve Chu. Good to see you. Now we’ve been we’ve been at this game a long time, my friend. A long time. I still remember I met you in Napa and then out of the blue, you were like, hey, let’s let’s go take a walk. I’m like, what? Yeah, just let’s just go take a walk. And there’s like all these people because you invited a bunch of people and we took this walk. And you told me some really personal things on that walk. And I was like, wow. Right on.

03:33
Remember this, you probably don’t even remember this. I don’t know if I remember that. But the Napa thing was a thousand interesting. We wanted basically to go to Napa and we’re like, if we get customers to come, then we can expense it and hang out with the customers at the same time in this Villa. And then we’re like, we should just probably pay for our own Villas in the future. But it was cool to have people like you, the founder of chess.com and others come through the house and hang out. Yeah, that was a lot of fun. Let’s talk about your YouTube channel first, because I know

04:00
that whenever you do something, you go all in. You get the best people to help you and it almost always pays off. So your channel has grown like gangbusters and I’m just curious, what is your process for creating a viral video? Because a lot of your videos, I say that the lowest one gets only like a couple hundred thousand views and you have ones that have like 4 million views. What does it take to succeed? Do you need this team that you have to do it?

04:30
Completely and I I wouldn’t want to do without the team. Okay, what’s really fascinating though? It’s like the opposite side. So for anyone else It’s just starting with your phone So this whole channel that’s now a million subscribers and I don’t know how much money it does. Maybe it’s $25,000 a month it generates it started me shirtless Recording with my phone in my living room in my 800 square foot house that’s falling down You can go the video is still up on the channel. And so I think when people see

04:59
these buildings that are so big or videos that get millions of views, they don’t realize that the most important part is starting. The most important part is getting going. And that momentum and that action leads to getting to a million views or five million views or whatever type of dreams people had. And so for me, I loved it. I was making this video shirtless, which to be clear, if you’re listening to podcasts, my body’s not ripped. It’s not like a bottle. was back when you had the six pack, wasn’t it? It was a little bit after that. I’m just saying, I don’t think it was.

05:27
I didn’t put on oil. It’s not appealing. No one’s seeing this body. But I just started and a few people watched and a few people commented. And that was enough for me because I felt good and I enjoyed it. And I think that’s a part people miss out on. I was like, oh, I’ll keep doing this. And so, again, the most important part is the start. It’s the now, not how. That’s one of the key things we talk about a million dollar weekend. That’s transformative. It’s like get going. And so that led.

05:55
over the next three years to being, to putting out videos where if it doesn’t hit a million views, we made a mistake, which we can learn from. And so it’s been an evolution, man. Like the, and this is how all business and life goes, but we got started. We put out three videos a week. Uh, it was me and one other person, three videos a week for 50 weeks that. Wow. So I did it. started going and I was like, all right, let me just put out videos. And I just kept going. And after all these videos, none of them really got popular.

06:25
Like no one watched them, not one. Like not one of them got super popular, like 100,000 views. And so what’s interesting about that and this is something again, I do talk about a lot of 100 and I talk about in the book and it’s called the law of 100. This is something that like game changer for me because I quit too early in my podcast. So I learned in my YouTube channel, I’m not going to quit too early. And the law of 100 is commit to doing 100 of them. So I was like, I’m going to at least get to 100 videos and then I can quit.

06:53
But the idea is that you’re just most of us quit way too soon. Like the only reason I’m a multimillionaire, the only reason is because AppSumo kept going. That’s it. There’s no difference. Like I don’t have some special ability. The distance between me and most of the listeners is a lot closer than they think. And the distance between where they are and where they want to be is even closer than they expect. And so with the YouTube channel, we did the 50 videos three a week, 50 weeks, and it was just like, fuck, man, these aren’t doing anything.

07:21
And we had a goal to get an extra 70,000 subscribers with about 90 days left. And we’re like, shit, we’re not going to hit it. So we had to try something different. And that’s again, I’m going to keep coming out of the book because the book is what’s teaching. It’s a teacher for me and a teacher for a lot of other people because we only had 90 days to get like almost 100,000 subs. And because we say, hey, can you do something in a weekend, which everyone has? Then we had to try something else and we had to be really creative. And that’s when we did the knocking on doors video.

07:51
where literally I just drove around my neighborhood in Austin and then the richer neighborhoods and just knocked on doors. We put out that video, a million view video, and from there it changed everything. How did you decide to do that knocking on doors video? So we tried what we’ve been doing and it wasn’t helping us hit our goal. Our goal is to get to 250,000 subscribers and we were at about 170,000. And we were doing these videos where I’m sitting on a camera like this.

08:20
Let me tell you about a book. Let me tell you about AppSumo. You know, it wasn’t differentiated and it wasn’t really entertaining for people to want to watch it and stop what they’re doing. And a lot of times for our YouTube content, we look at probably thousands of ideas to do now two videos a month. Does it give you drop the frequency down big time, too? We went from three videos a week to two videos a month. Wow. And each video is highly produced like who we’re going to have as a guest.

08:50
the pre-production, the during production, the amount of editing, the amount of consultants and designers, and I can talk more specifically about it. But what the thing that people can learn from is you don’t want to just copy someone in your industry because you’re not going to be able to beat them if you just copy. You got to look outside of it. And so we saw someone doing these knocking on doors, I think on TikTok, and it was so staged like the person opened the door and they’re like, hello, friend. Good to see you. Yeah. And I’m like, dude, no one ever does that to me.

09:20
But we saw that kind of working over on the TikTok thing and that kind of gave us the idea of, you you drive by these rich ass houses. And ever since I was a kid, I wondered like, who are they? Like, what do they do? And so that kind of inspired this idea of what’s the content people have been wondering about specifically in business that they’ve just loved to know that they haven’t found out and we’ll create that content. And our content’s all around creating content for the underdogs. So.

09:47
We don’t do giving away stupid things. We don’t like, I don’t know, put bouncy balls in our house. That’s not who we’re serving. We’re serving people who are underdogs on their business journey. And I think in content creation for anyone out there, it’s what are your content buckets specifically that you can kind of just repeat that you know, bang, that you know work. And so we found this knocking on doors, basically challenge videos like asking super rich people, challenge videos, super work. And then we said, all right, what’s another bucket? And one of them was asking super

10:16
rich people that are old regrets. Yeah, that’s been another kind of two of our major categories of content that we found like every time we do it, works. So what made you decide to pivot? Because that’s like the hardest thing to do. Was it because you had this goal of 250 subs, 250k subs? You’re really good at this, by the way, you’re really good at just like throwing away everything. And yeah, that’s not working. Starting over. That’s actually a big skill. Thank you. I problems doing yeah.

10:46
Well, I think we have the opportunity cost. We have the emotional investment. I think what I get excited about is doing more of what works. And this is probably one of the most obvious yet least used things in business. When you have started a business, whether it’s car washing, whether it’s selling e-commerce like a lot of your people, whether it’s digital products at AppSumo, the easiest way to grow your business is just do more of what works. Period. And so with our videos, was…

11:14
I could go do these talking head videos and Jeremy, who became the producer, he’s like, Hey, we can do those videos. It’s just not going to, it’s not going to work. We know these work. Why don’t we do more of these? And in business, a lot of times you have a window of opportunity, right? You have something, Hey, I found what works. And so one of the app sumo principles is double down. And we basically try to take it to the point where it’s, there’s no more, we can’t do any more of it. Uh, another example, separate of content, just another business example is at app sumo, we found affiliates.

11:44
are doing super well for our business. So specifically YouTube video affiliates. So we go to people making business content and we pay them money upfront and a percent to make content around our products on AppSumo.com. And we found like the ROI was insane. So we went from basically testing it out in the beginning of the year to now we have a five person team running it. And the same thing goes for the video content that we’re talking about on my channel, which is I can do these talking videos where I sit at this desk, make a nice video.

12:13
and it gets 50,000 views or 10,000 views and that’s cool. But we, our initial interest was making content that we enjoyed and was helping inspire underdogs and those videos work. So we just doubled down more on those types of content. So how do you weigh the cost of the effort versus the reward? So these talking head videos were a lot easier to produce. I would imagine, right? Like hardly any work at all. You sit down, you’re good to go, right? The amount.

12:41
Just to take a step back here, I do these videos where I’ve like I’ve went up to people in yachts. I went up to first class passengers. I stood outside of a private airport. I’ve knocked on houses in Austin, in L.A. I’ve done the streets. And I’m really afraid. Like, I’m really afraid. And the amount of anxiety and I go to therapy and I talk to my girlfriend about it. It’s not that I have some special ability, but that is really the difference between success.

13:09
and where you are today is what are you? What fear are you willing to face? And that’s what it came down to in this content. It was just like, OK, I can do the talking head and it’s going to be fine. These ones are harder to do. I’m to be more proud of them and other people can’t copy it as easily. So that’s what really led us down that path of doing. Hey, we can keep doing this or this is one that’s working. So let’s go do more of that and stop doing these other pieces. We are balancing it out today.

13:38
We’re going to be trying some talking heads so people get to know me because when I’m doing these, these harder ones, people don’t know who I am. They’re just like, oh, it’s a guy interviewing and that’s kind of cool. You know I love is you’re so humble in those videos. Also, the people that you’re interviewing don’t know that you run this super successful business. It cracks me up actually. But you know, I think what I’m trying to show in these videos is that a lot of this is accessible to anyone. Like I’m talking to people in Monaco in Switzerland.

14:08
like on the streets of New York, anyone can do this. And that’s the fear that so many people have. And I do. You we saw that in this book, which is just what’s the fear holding you back from getting going? And no one knows I’m rich, which is exactly the point. I’m just a person with a microphone. I don’t have fancy clothes on. Once in a while I dropped the Rolex. I’ll put the Rolex on, but I don’t even know if people see it. Yeah, I didn’t even notice it. Yeah. Yeah, they don’t see it. It’s like a $50,000 Rolex I’ll be wearing in the videos. They don’t see it.

14:37
And so look, anyone can have the chance to get whatever type of life they want. You just have to go get, you have to go start it. And that’s the part that most people are just watching it or they’re consuming it. And it’s just like, no, how do you get going right now? Anyone can take a camera and go do that on the streets or started e-commerce business, following your material, or do whatever kind of thing they’re excited about. I don’t know if you remember this, but a long time ago you create this course called monthly one case. It’s, don’t know if it still exists and, uh, you just sent me like the first, you sent it to me.

15:06
And I remember the very first lesson was to go ask for a discount at Starbucks. Is this course still exists, by the way? So we’ve evolved. The course still exists. Monthly one kid.com. But everything in the course I’ve improved and simplified and updated within million dollar week in the book. That’s called the coffee challenge, which is probably what I’m most famous for. And I think has the biggest impact on people’s lives of overcoming fear. The biggest impact.

15:35
Yeah, it’s funny because when I first saw that lesson, because you know, I’m a traditional Asian dude, like I like why, why, why am I asking for a discount at Starbucks? mean, something I would do, like regardless of your your course. But yeah, but you’re right, it is all about overcoming that fear. And when I found that I do one on one consults for the students in my class, and it almost never revolves around business. It’s always a mental. It’s almost like a psych session.

16:04
Whenever I do these one-on-ones, I don’t know if you found the same thing. Um, it is fascinating because the amount of business books and YouTube shows and podcasts about how to get rich is unlimited. How many $10 Udemy courses are there? Yeah. A gazillion. So if all the information’s out there, why aren’t, why isn’t everyone who wants to be a successful entrepreneur doing it? What’s the thing? And what I found out through that course,

16:33
And through a lot of other things, there’s basically just two things that are really limiting people before the business stuff. And that’s the fear of starting and then the fear of asking. That’s it. If you can overcome and practice those, it’s never, it’s never perfected, but practice them and you can get more comfortable asking. Like that’s what you have to do in your business. Steve, you ask people, Hey, will you buy handkerchiefs? Hey, we listen to my podcast. Hey, will you sponsor my conference? And the more you can feel a little bit comfortable doing that and get better at it, then all this other business stuff is cake.

17:02
And so that’s the stuff I found that really held people back. so the coffee challenge is really about asking. And then how do you practice just starting and getting going in the right now? And that’s been, it’s been interesting to kind of observe and be surprised that it’s not the business stuff. It’s the fear stuff that really holds most people back. And people are more receptive to helping you than you think. I remember when I first encountered you, I, I didn’t, you were like, Hey, just give me a call. I’m like, what? Cause

17:31
I thought that was just very generous of you to just, you gave me your phone number. I’m like, okay, let’s talk. Right. But I didn’t expect that to happen. And if I didn’t ask, then I never would have had that first conversation. Yeah. Most people hope for things. They wish for things, but the only way to get something is to ask for it. That’s the only way. And it’s something that you, the more you practice it, the more it actually happens. And it’s in a powerful thing.

18:01
I was fortunate that my parents were kind of extreme examples of askers. You my dad asked for discounts all the time and I was so embarrassed. And now it’s kind of like, okay, well, if you want to raise, that’s an ask. If you want a job, that’s an ask. If you want a boyfriend or husband or girlfriend, that’s an ask. If you want to have someone interview for on a show, that’s an ask. And the more that you can get comfortable with it and frankly excited about it, you start realizing all the different things you can do in this plan.

18:30
I just wanted to take a moment to tell you about a free resource that I offer on my website that you may not be aware of. If you are interested in starting your own online store, I put together a comprehensive six day mini course on how to get started in ecommerce that you should all check out. It contains both video and text based tutorials that go over the entire process of finding products to sell all the way to getting your first sales online. Now this course is free and can be attained at mywifequitterjob.com slash free.

18:59
just sign up right there on the front page via email and I’ll send you the course right away. Once again, that’s mywifequitterjob.com slash free. Now back to the show.

19:10
This is something I’ve been doing with my kids. So there was this test that my son did really badly on. And you know how it’s unacceptable to get a B in my household. You and my parents, bro, my parents, I’m like fearful. So I went up to him and I was like, are you going to settle for this grade, which, is like a C minus or something. And he was like, well, what can I do? And I was like, well, you can go talk to your teacher and say, Hey, can I retake this? Is there anything I can do to just make up for it? Cause I really care about this grade.

19:40
And so he did that and the teacher let him retake it and he did better the second time. But if he didn’t ask, it’s not like the teacher offered a makeup exam, but he asked and showed that he really cared about his grade. And that’s really all that a teacher wants to see, right? That you care. And so he let him do it. Yeah. Yeah. It’s amazing. Like one of the most popular YouTube videos we’ve done is with John Paul DeGioria, the Patron Tequila guy. And you have to know where you want to go. And I think everyone should be rich.

20:10
That’s just at least try being rich and then decide if you don’t like it, but at least have it so that you can make the decision. See if you don’t like it. I like this. I didn’t think being rich was cool for a long time. Now I’m like, dude, money buys a lot of happiness. And what happened, what what what I had is that, OK, I wanted to interview certain people and have a dream. That’s what I’m saying. Have a dream of being rich. Have a dream of having some crazy stuff. You don’t realize the levels that you can have in your life. I think we a lot of people, including myself, historically are stuck in the middle and the middle is getting squeezed.

20:41
real bad. And I didn’t know I could be out of the middle class because that’s what my parents taught me. They taught me for the middle class. And that was the best they knew. And so I had a dream that I can interview billionaires and John Paul DeGiorgio was on our list. And it was like, how do we meet John Paul DeGiorgio? I like, I don’t know, man. So I email him. We tried nothing. And so I was biking. I was biking in Westlake Hills, Austin. And I see this guy with gorgeous hair. And I was like, that looks I know that hair. And then.

21:09
I said I biked another two miles and I was like, I would always regret if I never asked. Someone said this to me recently as well. They said, I don’t want to live a what if life. I don’t want to live a what if life. And I was like, that’s a perfect way of living it. You don’t want to live a what if life. So I biked back two and a half miles, try to find him, found him. And I said, hey, John, I love you. Really impressed. You seem like a honorable person, really, really kind person. I love to interview for my show. He doesn’t know who I am. I’m in spandex. Yeah.

21:37
He’s like, sure, follow up with my assistant. And just from asking and then she said, you know, I followed up with her the next literally that day. She said no. And then I followed up for the next year. And after a year, she called me on a Friday and said, you can come at 8 a.m. Monday if you can do it. And that’s how we got the interview. And that’s, know, that interview, we donate all the proceeds to laptops for kids. And I got to meet him, which was honestly super inspiring. And that’s just from an ask, just an ask.

22:08
I’ve seen you go above and beyond to meet people. I think there was this one guy that you want to meet. can’t even remember now, but you ended up sponsoring his bike tour or something like that. Yeah, I think you donated. Yeah, I think I donated a little bit. Yeah. Thank you. That was Bo Jackson. Oh, yeah. Yeah. That was my father passed away and his name was Bo. And when I was a little kid, I loved Bo Jackson, too, especially if you grew up in the 80s or 90s, you knew Bo Jackson. And I just I felt a calling to meet him and somehow connect with him.

22:37
as my after my dad passed. And, you know, this is something again, two biggest fears holding people back from success is starting an ass game. I built a community over 20 years, which everyone can do. And that’s why I talk about this this distance. I think people listen to a podcast or they watch a YouTube video and they say, I can never do that or I would never be able to make that happen. It’s like, no, the distance from you and where you want to be is much closer than you realize. Much, much closer. I think people want to sell you that the distance is far, but that’s not true.

23:07
And I put out videos and put out blog posts just like you have, Steve, for a long time. And one day I asked my audience, will you donate to Bose Charity? Because I think that’s a way that I can actually get to know him. And I think he’s doing a good charity. So that’d be a great, great thing. And I just asked and we raised thirty thousand dollars. And then from that, because he said no to meeting me, actually, initially. Yeah, he didn’t want to meet. And so I asked, donated thirty thousand dollars. And he said, yeah.

23:35
And so I was able to meet him. kept donating to his charity, got to interview him for a show. And it was was what was fascinating. Probably one of the most interesting things about that ask. Was that almost everyone who donated, I knew who they were. Wasn’t that like I built up some of this large following of millions of people who I don’t know. It was actually about one hundred and two people and almost every single one. I knew who they were like I emailed with them. I’ve like tweeted with them or some social media DM with them. wasn’t I built up this following and didn’t know who they were.

24:05
I mean, how cool was that? Because I used to play with Bo Jackson in Tecmo ball. I don’t know if you heard. Yeah. Wow. He a guy who was a lightning fast guy on the Raiders back in the day. Oh, man. He was a legend. Yeah, legend. But I think the other thing is that anything we want in life is accessible. Yeah. Whether it’s money, whether it’s a great partner like me and you have, whether it’s great money, whether it’s a company.

24:33
whether it’s a location, whether it’s a house, whatever these things are, and finding the things that also do matter and being able to spend that money on it, it’s accessible. And I think the more that that belief happens, the reality of that happens, the more that it actually can happen. I think for me, when I have these one-on-ones with some students, it’s often a confidence thing. And I always tell them that you’re just going to figure it out. You’re not going to know anything ahead of time, so just do it.

25:01
and just learn along the way. In fact, a lot of times the course is just a guide, right? The course isn’t going to really help you as much as you just figuring stuff out because the information that you need is going to be very specific to what you’re doing. Dude, that is such a great point. The you know, in the book, I do talk about now, now not how, which is this idea of we get so consumed on like, how is it going to do? It’s like just get going, start doing it and you will solve it. And recently I told you

25:30
before the show, was biking across America and we got stuck in the snow and we still had 70 miles left and we were both sore. I was like, there’s no literally wasn’t safe to ride. And I was like, I don’t know how we’re going to get get to Albuquerque where my family lives. And it’s like, OK, we’ve got to do something because we can’t ride the snow. We might get frostbite. We could literally if we get injured, we’re screwed. There’s nothing between. And. You know, I think this is not I think the success of an entrepreneur and someone in life is, are you willing to come up with a solution and be resourceful?

26:01
Period. And so and by the way, you don’t even have to come up with it. You just have to be around the other people or find people who can come up with it. And this idea that there is always a solution, there is always a solution. We found my my buddy Anton came up with the idea. We found a U-Haul truck. We rented it and it was cheap, too. It’s ninety nine dollars. Good price. Rented a U-Haul truck and drove the last 70 miles. You know, there’s there’s always a solution to these different experiences. I think that sometimes.

26:30
That’s really what’s going to separate you. Like, are you willing to think about a solution? Are you willing to keep going when it seems like there’s a challenge that you can’t overcome? And there’s always a way to overcome it. Also, there’s no right way to do things. And I kind of discovered this on the job when I was an electrical engineer. I kept bugging my boss, asking him, hey, can you look at my code? Is this the right way to code things? And then I discovered later on, like, no one knows what the hell they’re doing. They’re just coding however they want in their style. And that’s just something I learned. There’s no right way to do anything.

27:00
Just do it. Yeah, going. think what happens is we sit on the sidelines long enough that we just get more complacent being there and we we look at other people and think they have some answer. I don’t have. They have something I don’t have, and that’s just not true. And it’s like, oh, this person’s figured out like they don’t know what’s going on. We’re on a planet in space. No one knows why we’re here. Not one person. So, you know, we’re all figuring out our own best ways, and it’s good to kind of observe other people and then make your own decisions.

27:30
I think that’s a great lesson that you shared, Steve. It’s like, does it work? Are you satisfied with it? Are you proud of it? And that’s something I think more of us can get better at is like worrying less about the external people and more about the internal people. Like, am I proud of this work? Does this code work for me? Does it work for what I need the outcome I need to be doing? So let’s talk about the total your book Million Dollar Weekend. It sounds pretty sensationalistic.

27:57
Can it be done? What do you mean by seven figure business in a weekend? How long did it take you to become a millionaire? Six years. Until our business started making a million a year. In revenue, right? profit, revenue, yeah. Millionaire wise, mean just like money in the bank? Yeah. It happened pretty soon after that, because I don’t spend that much money. And I used to buy stocks. I bought stocks from a young age too. So all that money just went into stocks and stuff. That is good. That is good. I actually became a millionaire

28:27
through day jobs, mostly, mostly day jobs, not through some inheritance. Yeah, I just had day jobs. didn’t, I didn’t spend a lot of money. I lived on couches. I lived in my aunt’s basement. I lived on floors, lived at my mom’s house and I was just, you know, saving that money. And so by the time I turned around 30, 31, I had a million liquid. That’s what people should always ask when they talk about that. Now regarding the book for your business with the e-commerce business for handkerchiefs and so forth. When I’ve started businesses,

28:58
AppSumo.com, Gambit, Cakeflip, they were all started within 48 hours. And AppSumo today, this year is going to do somewhere between 70 and $80 million in revenue. Crazy. Crazy. It’s, it’s absolutely remember when I was in the newsletter with you and Neville. I, know, playing guitar and just drinking on Fridays. I guess we’re still doing a lot of the same things. But the point is, is that the 80 million started with $1 and that $1 started in 48 hours.

29:24
And so what most people do is they want to be a millionaire, but they never make the one dollar and they just stay becoming a dollar in air. And so it actually become the millionaire or the multimillionaire or the billionaire. It’s about getting going. And so the book specifically is like, hey, this is the appeal. You want to be a millionaire? You can actually get it going in a weekend. Some people, I bet you within the next year, someone will make a million dollars in a weekend. And that is possible. Is it going to be everyone? No, but you can get there by getting going in a weekend and everyone.

29:53
Steve, you have two kids. You’re telling me you got volleyball practice. You got a wife to take care of. You got your own interests. You got friends. You got your, you I don’t know if you’re in a fantasy football. I’m in a fantasy football. The reality with that is that that means you don’t have a lot of time to become a millionaire if you’re not. And if you have a day job that’s busy and you want to do good work, but everyone has a weekend available to change their life. And that to me is the appeal that you can become a millionaire weekend. You can make your own business, which is the best investment you can do. And you can get it going in a weekend. And so.

30:22
All those combined to me. That’s like, yeah, million dollar weekend. You can change your life and make it happen. 48 hours. Actually come to think of it now that you’re mentioning it, I did. We did start Bumblebee linens in a weekend because my buddy showed me the software and I just had it up and running. The blog started in like five minutes when someone just showed me how to do it. Yeah. And I think that the reality for most people is how do you just get started?

30:50
Right. And they’re sitting on the sidelines. And that’s why we talk about the now not how habit like there’s this guy in the book, Pat. He’s in Poland. He’s a customer service day job in Poland. You know, my family, my heritage is from some summer from Poland. And he’s always dreamed of having a million dollars and having his own business. And so he’s always been super into YouTube. And because of the book, he read it, followed things in the book, and now he has a ten thousand dollar a month consulting business for YouTubers. Amazing hiring other people. His Pat Gosek and I’m like,

31:20
Okay, Pat. All right, attaboy. And that’s because he got going, right? He got over the fear of starting. He got over the fear of asking. And then we, you you go through the steps of like, how do I validate that people actually want it without spending money in a weekend? And because you’re limited, you’re like, all right, well, I’m to be creative. And so it’s been special to see people like him or other different types of businesses come out through this book. And so I’m curious to see what other ones do come out. You know, it’s funny, I was just watching.

31:46
your last YouTube video with the guy who sells tankers, right? Billionaire guys start selling tankers. Yeah. And he was just like, Hey, I just wanted to sell into the horizon. Because you asked him like how he got started. And that’s what that’s all it took. And a dream. But it’s just amazing. Because you don’t you don’t see the entire process. You just see the end product, right? Yeah, I mean, I would say it was pretty

32:15
pretty unhappy a lot of my life in the 20s and maybe even some of the 30s. you know, I find that entrepreneurship everyone should do. It’s like you get the most upside and you really get to ultimately control what you want to do in life. Whether it’s maybe making grocery money or it’s making millions, it’s just the idea that you can actually, OK, I have control about how I live and where I live and all these things can come through entrepreneurship. you know, Hudner, Michael Hudner on our YouTube channel, he like he like ships and tankers. I still think the world’s partially flat.

32:44
Prove me wrong. Tell me something. Been to the go to that corner that you’ve been to. Tell me now the I joke. But it’s finding whatever it is that you do get excited to do and realize you can actually make a ton of money doing these things like there’s people getting rich doing gardening on YouTube. You know, Kevin, spirit to epic gardening. No, dude, he’s making millions of dollars in gardening. Yeah, there’s something I think is in San Diego. There’s a guy, Dustin’s fish tanks, fish tanks, fish.

33:13
I just eat sushi. I can’t. doesn’t let me come into his house because I eat his food. You know, so the not just on YouTube, right? E-commerce like you have. What do you guys do? You have like handkerchiefs. We saw. Yeah, there you go. People always make fun of you for that. I don’t think make. Dude, I love when people are doing one of the YouTube people I super want to interview. Not for YouTube. For myself, most of the content and the things I do in business is what I’m interested in. And I you have to find that that that Venn diagram of what you want to do and what people will pay, what people will watch. And that is there is a science and art to that.

33:43
I want to interview the guy who does the toilet, toilet bowl sense. Toilet bowl sense. Yeah. I don’t even know what that product is. Is it just, you you go to your journal and you pee and there’s those little pockets. Yeah. The bricks, the cakes. There’s one called Echos, E-C-K-O-S dot com. And I’m always peeing on his things. And I felt we looked him up and we’re getting ahold of him. But I’m like, dude, how did you get into the pee business and how do you test that? So.

34:11
Point being, there’s a lot of ways, and I think that’s part of my channel. My channel shows you that one, anyone can do it, and two, there’s a lot of ways of living a rich life, like actual rich life. It’s not just tech, which, you know, me and you are Silicon Valley guys. Like that’s where we, that’s how we thought you’d only get rich. And you know, a lot of the people I’ve met, it’s just so interesting to find out a lot of different ways. So you’ve done a lot of things, and I’ve always wondered. So you have content, you have a SaaS company.

34:40
and you have software. what I mean, you have AppSumo, sorry, AppSumo and then a SaaS company. What is your favorite thing to do? What are the pros and cons of each one of those business models? It just seems hard for I find it always hard to believe that you can handle all those things. I used to do software and hardware, ton of time, huge commitment. What is your rationale for doing so many things? Now have this book coming out. Yeah, you just kind of do whatever the hell you feel like.

35:10
You know the way that I believe everyone should approach it is what will you do for free? Okay, and then figure out how you can get paid working for free So I’ve been putting out content you can go back on archive org or whatever Since 2000 I’ve been putting out blogs and putting out YouTube since 2006 I got to meet Steve and Chad when they came to Facebook. I’ve got you know, I put out the podcast now years And so it’s if you have money

35:39
Or if you had all this money in the bank, what would you do? And then go do that. And that’s how you actually end up getting a lot of money. Like one of the things I talk about a million dollar weekend is called the freedom number. And this is a number like Sam par had one. I have one. You probably had one. You did have one. Actually, I know. And it’s just finding how do I make as little money as possible so that I can have freedom? And then when you have freedom, you can do what you really want. And guess what? You end up making a lot of money because you’re doing the things you really enjoy. And it’s very fun to stay with it.

36:06
And most people quit too soon. That is why we also talked about the law of 100. So for me, like I love making content. I got to go interview a urinal guy. I know like how cool is that? Let’s go talk about urinals like it’s interesting. I get to meet a lot of interesting people like Michael Hudner and they took me sailing on his boat or I went on a private jet because I just stood outside an airport. That was a sweet interview. Also, that was like all these things up, by the way. yeah, that was a wild one.

36:31
I was very well and then I’m like he dropped us off at 9 p.m. raining in Boston had to go. Anywho now with AppSumo I love promoting. I just love promoting. That’s what I’m promoting content and now I’m promoting software because I like software and I like deals and so it just comes back to the things I’ve really enjoyed now about how we decide what we’re doing. There’s there’s two different ways I would recommend people approaching it. Number one what’s the number one problem in your business? What’s the number one thing that could screw you over? So you’re kind of looking at from a negative angle.

37:00
And so with AppSumo, our revenue is not recurring whatsoever. We do these amazing deals on software and we can have a month where we do 2 million and then we can have a month where we do 10. And it’s just like that is very hard when you have a payroll that’s one and a half million dollars a month. That’s very hard. And so it’s like, oh, well, one option is to have recurring revenue. And so we built sumo.com. We’ve built the AppSumo originals products like tidycal.com. Also, I hate paying subscriptions.

37:28
So it makes it easy to be like, we just build so David and Garrett and the original scene built software that we want ourselves? I think that’s one of the best things you can do in business is make yourself happy. And now in terms of the other side of business is what are you excited in the future to work on? And how do you make your week look like that? So with AppSumo, we spent six months talking to customers, talking to partners, talking to the entire team. There’s about a hundred people talking to our leadership team, talking to our advisors.

37:56
And we came up with this vision around how do we help SaaS businesses more these creators that create tools for solopreneurs and small businesses? How can we help distribute more of their products? Right now we only help distribute products that are really good deals. And we love good deals in AppSumo.com. love it. Steve, me and you are like deal brothers. Dude, we are. I love a good deal. And the idea is, all right, what else can we do to help them from when they’re starting to after when they finish AppSumo? And now it’s like, oh man, we get to work on that.

38:25
The reality for you, me and everyone is how do you create more excitement so you’re looking forward to what you even get to work on and that that’s accessible to everyone. So that that’s kind of how I think about the different things going on. Like some people ask like, hey, you can sell AppSumo. We could probably sell AppSumo for a few hundred million. Which is a lot of money, like I don’t see percent. So I’d get one hundred, two hundred million dollars. OK, what do I do? I do YouTube. I do my newsletter. No, Kagan dot com. I go promote stuff. I go back and build software and I just.

38:54
have AppSumo again. So why don’t I just keep doing this? And I truly believe I don’t I don’t think retirement’s in the books for me. I think as I have a family and those things happen in the future, I probably reduce the amount of time I do it and I hire people. But yeah, this is it’s amazing. I can’t believe I get to live this life. And I think that everyone can live that and it can get even better than this for me and for everyone else. Where does the book fall into this? I have a couple of questions for you. So why go the traditional publishing route for this book versus self publishing?

39:25
What was your reasons for creating this book? Name five, name five self published books that are best sellers that are like iconoclastic in the business section. Good point. No, can’t think of any actually. Name one, try one. That have been self published. The only one I can think of is Brandon Turner’s book. You know, Brandon, right? The real estate investing book. was self published and it outsells practically every book on the, on the, on the list.

39:55
Yeah, I like this. I’ve done two self published books. I think there’s not. I think there’s something there when you sign up for the major leagues. Like yesterday, I did the audiobook. I was in a professional studio where like rock bands are days and there’s a professional producer with an engineering recorder. This producer’s name, Scott Sherritt. He just did Prince Harry’s book. And I was like. No, OK, I print Harry did. Yeah.

40:24
Yeah, I was like, my mom’s a queen. So, you know, it’s just a different level. And it’s what level are you expecting this book to make an impact of? What level of professionalism are you taking this book? And that’s when it really hit me yesterday where it’s like, this is the difference. A self-published book can do really well. And I think it’s great if you want to start off. But in terms of the books that have in our current civilization, the ones that have lasted are the ones that have gone through a traditional publishing run that can change in the future.

40:53
But for me, I wanted to sign up for something serious that is harder and longer and more impactful. And that to me was a traditional publishing rep. It’s good answer. My answer was I did it for ego. I want to hit the list. I wanted my mom to respect me. I wanted my mom to actually read something that I do. But I like your answer to, know, the ego is dude, no joke. My ego straight. It’s there too. Like I like when, you know, I like the YouTube videos. I like the comments. I replied a lot of the comments. Um, I don’t need.

41:22
The New York Times, that’s something that feels secondary to me. I feel like I wanted to put everything I ever thought of and that people ever asked. I was on a bike ride 10 years ago and I was like, man, there’s no book out there that can that I wish that I had. This is with my buddy, Adam Gilbert, New York. We were biking around. I was like, I wish I knew a book that I could have read that have been like, here’s why you haven’t had success yet. And here’s the steps that once you figure out your fears that you can actually take to create a million dollar company, there’s nothing. And it was like, all right, I’m to put everything in one book. That’s it.

41:52
This is one shot. I’m not doing another one. I’m just go back to work. And then this is the bar I can give to other people, to my kids, to friends. That’s like, hey, go follow this. This is your last book. Is that what you’re saying? Oh, my god. Other books, right? I remember reading another book. I can’t your Facebook book. I can’t remember what it was called. Yeah, I wrote a book about how I got fired and I didn’t get all that money like 200 million. Yes. Now it’s a billion. Now it’s a billion. And then I wrote another book about

42:19
rich people tax secrets called things that millionaires don’t want you to know. It’s really good book. Yeah, they’re just different. It’s just different levels. Right. It’s like playing in the minor leagues versus playing the major leagues. And very few people make it to the major leagues and very few books are written. Very few books are great and very few books actually get read and make an impact. And, you know, for me with this book and I think with when you’re working on something, it’s not cares about me writing a book. It cares about the person listening or watching and the impact for themselves.

42:48
It’s like, how do you stack the deck in your favor? How do you have a goal? And for me, it’s to get a thousand positive reviews on Amazon, because I mean, someone read it and they took action. That’s my goal. How do you stack the deck so as you’re working on your ice cream business or on your e-commerce business for handkerchiefs or if you’re doing car washing that you can stack the deck so that it’s going to be successful, like you ask enough people, you get enough expert help, like whatever it is to make sure it’s successful. And that’s what I’ve done with this book through hiring James Clears.

43:18
proposal writer, getting Ramit Sethi and one of the best agents, Lisa Demona, getting one of the best business writers in the world, Tal Raz, getting literally almost a thousand, no, it’s over a thousand people beta testing, beta testing a book. Who beta tests an actual book? Like no, every weekend, five people go through the actual book and test it. And then we have a thousand in our launch team. It’s been thoroughly tested. And so as I’m doing it, I think this applies for everyone. Like as I’m doing YouTube videos,

43:44
It’s not a big surprise when the video does well, because we’ve put so much into making sure it’s going to do well. And again, that’s because I started, right? It’s because I wasn’t like doing this. It was like I got going. And then it’s led to these points where now as I’m doing these things, I have more confidence it’s going to perform well. can tell you that from my experience launching the book, your advice of just asking, that was hard for me. But I did it. But that was something that was pretty uncomfortable for me.

44:12
Because launching a book is one of the few times when you actually have to go out and ask a lot of people for help. You know what I mean? Dude, it’s been hard. Even for me, it’s hard, dude. Like I know we had a thing where you asked me and I felt like I didn’t feel appreciated, but I felt I was really glad that we could have a conversation about it. That was healthy. And in this book, it’s been I think that’s probably been one of the most shocking things post like now it’s promotion period. And now the book’s coming out is how many people have I helped? Countless.

44:41
Well, and not this is not arrogant. I’m saying for everyone out there, how many people have you helped? How many people can you call that maybe could be a customer that can maybe promote you, that maybe would refer you for advice? And I was a little surprised how many people were were willing. And it made me feel nice. And it was a good reminder for me and for everyone out there that like keep helping whether you need it right now or whether you need 10 years or 100 years or never years. Just get going and help people. And that does come around and does pay off. And people like you.

45:11
Pat Flynn, a lot of other really great people. Omar, I feel lucky to have on my side around this stuff. Yeah, it felt really good how much people are willing to help. if you listen to this, you’re going to be surprised by how willing people are to help. Unbelievable. The other thing that I’ve also just asked for advice for a lot of people I called you, I called you about the book, the boxes. You know, I called Marie Forleo. I’m calling whoever I can. And instead of asking someone for like, help me. That’s for advice. And a lot of people, I’m like,

45:40
Can you me advice? Yeah. And then here’s what I’m going. This whole advice thing is good. Just ask for advice. And guess what? You’ll be surprised. People want to help you there, too. Like I think if you’re if you’re poor or even, you know, if you’re wherever you are in the world, like, don’t know anyone rich. You have a dentist. Dentists make good money. You have a doctor. You have a lawyer. You can ask them how they did it or you can ask them for their friends. And just by asking for advice, you’d be shocked. Like some of my best investments, it’s because I had I had a parking spot landlord. I was paying 200 a month for my parking spot downtown.

46:10
And I was like, how’d you get so rich? He’s like, I sold a software company. Now I do real estate. And I was like, can I treat you to lunch? Took him to true food kitchen and I bought him like, you know, whatever. Nineteen ninety five dollar quinoa overpriced And then, you know, now I’ve invested in deals that have performed well. And that’s just because I asked someone that seemed like they’re doing something well and that’s not exclusive. That’s available worldwide.

46:37
So if you’re listening to this, go to your local Starbucks and ask for a 10 % discount on your next coffee. That will train the muscle for you to ask for stuff. They’re asking, yeah, it’s business, man. That’s business. Noah, when’s this book coming out? Where can people find it? Go to milliondollarweekend.com. We have a lot of templates and resources for people who grab the book. That is where I’m sending everyone milliondollarweekend.com. And you can get a free chapter, right? We have different.

47:05
resources and free things on the on the website. We’re still experimenting about what the final website is going to have. there’s within the book, there’s templates about how to do your one minute business model. There’s video walkthroughs about how do you evaluate market research. There’s a lot of different step by like, we made it foolproof, if people are willing to put in the work that they will get to a million dollar business. Awesome. Well, hey, Noah, thanks a lot for coming on the show. Looking forward to the book.

47:33
Hope you enjoyed that episode. And what I want you to do is head over to Amazon right now and grab Noah’s book, The Million Dollar Weekend. It’s a great read, highly practical, and I can tell Noah put his heart and soul into the project. More information about this episode, go to mywifecoderjob.com slash episode 515. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event.

48:03
go over to SellersSummit.com. And if you’re interested in starting your own eCommerce store, head on over to MyWifeQuarterJob.com and sign up for my free six day mini course. Just type in your email and I’ll set up the course right away. Thanks for listening.

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Ready To Get Serious About Starting An Online Business?


If you are really considering starting your own online business, then you have to check out my free mini course on How To Create A Niche Online Store In 5 Easy Steps.

In this 6 day mini course, I reveal the steps that my wife and I took to earn 100 thousand dollars in the span of just a year. Best of all, it's absolutely free!

514: Behind My Brand: 2023’s Big Wins and Brutal Losses in E-Commerce

514: Behind My Brand: 2023’s Big Wins and Brutal Losses in E-Commerce

In this episode, I’ll give you the run down on how both our businesses performed in 2023 including all of the highlights, lowlights and what we have planned for 2024.

What You’ll Learn

  • How my businesses performed in 2023
  • Predictions and plans for ecommerce in 2024
  • Check out my new office – Click here for the tour

Sponsors

SellersSummit.com – The Sellers Summit is the ecommerce conference that I’ve run for the past 8 years. It’s small and intimate and you’ll learn a ton! Click Here To Grab Your Ticket.

The Family First Entrepreneur – Purchase my Wall Street Journal Bestselling book and receive $690 in free bonuses! Click here to redeem the bonuses

Transcript

00:00
You’re listening to the My Wife Could Her Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Now, my wife just closed the books on both of our businesses and this podcast episode will do a recap of the year. I’ll talk about the highlights, the lowlights and what we have planned for 2024. But before we begin, I want to let you know that tickets for the 2024 Seller Summit are now on sale over at sellersummit.com.

00:26
The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online. And unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based conference where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business, entrepreneurs who are importing large quantities of physical goods and not some high-level guys who are overseeing their companies at 50,000 feet.

00:53
Now I personally hate large events, so the Seller Summit is always small and intimate. Every year we cut off ticket sales at around 200 people, so tickets sell out fast, and we’ve sold out every single year for the past eight years. Now if you’re an e-commerce entrepreneur making over 250k or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The Seller Summit’s gonna be held in Fort Lauderdale, Florida from May 14th to May 16th, and right now this is the cheapest the tickets will ever be.

01:21
Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 38 % off right now. My book will teach you how to achieve financial freedom by starting a business that does not require you to work yourself to death. Plus, you can still access my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube and podcasting when you grab the book over at mywifequitterjob.com slash book. So go over to mywifequitterjob.com slash book.

01:49
fill out the form and I’ll send you the bonuses right away. Now onto the show.

01:59
Welcome to the My Wife Coder Job podcast. My wife just closed the books on our two seven figure businesses. So in this episode, I’m going to give you the rundown on how both our businesses performed in 2023, including all the highlights, lowlights, and what we have planned for 2024. So first off, let’s start with my e-commerce store over at bumblebeelenns.com. If you’re not familiar with my online store, I sell handkerchiefs online and I’ve been running this seven figure store for over 16 years now. And as with any business,

02:27
there are always going to be ups and downs. Now the beginning of 2023 got off to a shaky start because we purchased a brand new office building at the end of 2022. The landlords at our previous office where we rented for the past six years decided to jack up the rent 30%. So we finally decided to bite the bullet and buy our own office. Now give you an idea of the numbers. Our rent was going to go from about $5,000 a month to roughly $6,500 a month for a tiny 2300 square foot place.

02:57
and we didn’t think it was worth it to continue renting. So during the first week of January, we shut down the shop for a couple of weeks to move into our brand new office and it was a major pain in the butt. But I’m happy we made the decision because our new place is big enough to last our business a long time and we no longer have to pay any rent. Now, in case you are curious what it looks like, I did a full tour over here that you can watch. But overall, January was very slow because we lost half the month to move and stuff was all over the place. But once we settled in,

03:27
sales started rolling in. And in fact, from February until about September, October, we were experiencing record sales. Now I’m looking at our product sales right now for 2023 and almost all of our personalized linens, including handkerchiefs, napkins and towels, shot up by double digits to triple digits year over year in growth. Meanwhile, our non-personalized linens dropped about 8 to 9%, depending on the category. Now overall, I attribute the drop in our regular linen products

03:55
to increase competition on both Amazon and other marketplaces. Now, fortunately for our store, many years ago, we decided to double down on personalization, and it’s paying off big time. Today, we’ve got six industrial-strength embroider machines running all day to create personalized products for our customers. These machines are heavy and expensive, which provides a nice barrier to entry from people wanting to copy us. Plus, learning how to embroider carries a steep learning curve

04:22
and there are lot of steps involved in the process. Now my philosophy has always been that you never want to do what’s easy when it comes to business because there’s just going to be a lot of competition. This is why I will never recommend dropshipping as your primary business model. Sure, it’s easy and there’s low upfront costs, but there will be hundreds, if not thousands of stores out there selling the exact same thing. And it’s just going to be a race to the bottom in terms of price in the long run. Similarly,

04:49
If you’re just buying stuff from Alibaba and then selling on Amazon unchanged, you might be able to make a couple bucks here and there, but eventually you will get squeezed. Instead, you want to sell stuff that very few people want to take on and you must build a brand by creating content. Now I teach Amazon to the students and my create a profitable online store course and I’ve consulted many sellers in the past and people have been drinking the Amazon Kool-Aid for so many years that they never bothered to learn any marketing skills for their own online store.

05:18
Now today you have to be omnichannel and sell on as many different marketplaces as you can with your website as your home base. Anyway, sales are really good for bumblebeelindens.com until about October when Google decided to launch four consecutive core updates to combat spam. And unfortunately we were hit by one of them. Right now because of artificial intelligence, Google has a spam problem and it’s changing SEO dramatically to fight the onslaught of AI generated blog posts. Now if you look at the search results today,

05:47
You’ll notice that sites like LinkedIn and Reddit and other user generated content sites have shot up for a bunch of different search terms. And Google is putting way more weight on established websites like Amazon and Etsy. Now, fortunately for us, most of the traffic loss was for blog posts on Bumblebee linens that got traffic, but did not lead to many sales, but we did take a slight hit of our sales. Now the one saving grace was our email list. Back in November of 2022, I implemented a service called retention.com

06:16
that allowed me to gather emails from visitors to my site without an opt-in. Now I know this may sound a little grey hat, but it’s 100 % legal and it works great. For more information about this tool, watch this video here. But overall, retention has added me about 50,000 new emails in the past year, and many of these are new and repeat customers today. The other saving grace was that we released a brand new product line, our custom printed linens on November 24th. Now looking back, it was pretty crazy and borderline dumb

06:46
to launch a new customized product on the busiest shopping day of the year without any fulfillment processes in place. But we did it, and it was a crap show. Here’s the backstory behind that decision though. During the middle of 2023, we decided to purchase a brand new DTF printer from Sublastar so we could print any image on any of products that we sell. Customers were asking for graphics on their linens, and our embroidery machines just were not cutting it.

07:11
Now whenever you get a cool new gadget, it takes a while to learn how to use it and all the little tricks and quirks, and running a DTF fabric printer is nothing like printing on your inkjet at home. It’s a lot more hands-on, you have to keep the print heads clean, and there are many steps involved in the printing process. So for example, to print a design onto a handkerchief, you have to print on a special film. Then you have to put special powder on the printed design and then bake it in an oven. And then finally you have to take a heat press and then press the design onto the fabric.

07:40
Now pressing a design one at a time is easy and it’s actually kind of fun, but imagine getting hundreds of orders all at once and if you don’t have a process in place, you’ll end up beating your head against the wall. And this is exactly how I felt on Black Friday. In fact, I was so scared of having a lot of sales volume that I didn’t even mention our new line of printed linens in the email that we sent out. Instead, I just created new categories for these products on our website for our customers to discover and launched with about nine custom design choices.

08:09
Now on Black Friday itself, we sold exactly 23 of our brand new printed towels and handkerchiefs. Not a whole lot, but man, did we screw up that first batch. Now to provide some perspective, we got over 500 SKUs in our shop and we actually didn’t do any test prints on every single product, because it’s a lot of products. So what ended up happening was that we set the heat press temperature too high and burned a whole bunch of our linens in this first batch. Also, I was actually the only one who knew how to use the printer, so I was actually going in every day during the holiday season.

08:39
put together SOPs for the fulfillment process on the fly. Now I don’t want to go into too much depth because I filmed a full length video here about my adventures with the printer that you can watch. But our brand new printed line of linens contributed several thousands of dollars to the top line. Not a whole lot, but enough for us to iron out the fulfillment process. In fact, one of my tasks this month is to train our employees to take over. Now going forward, I anticipate that our custom printed linens will become a major profit center for our shop.

09:08
and we had the flexibility to print anything on anything that we sell. So all told, we started out the year weak in January, strong in all of the months until about October, where we got hit by Google, but email and SMS and our new product line allowed us to end the year up in terms of revenue. However, in terms of profit, Bumblebee Linens was way more profitable because we didn’t have to pay rent any longer. But overall, the groundwork has been laid and I think this year will be a good year for us. So what’s in store for 2024?

09:37
I’m going to be experimenting with AI, specifically an AI bot to handle basic customer service calls. We hired a new customer support person toward the end of 2023, and she has made a huge difference. Now, because our clientele tends to be older, they like to talk on the phone, and we get a bunch of orders this way. I’m also working on creating a new handwriting embroidered product to the mix. Lots of brides have been asking us to have a handwritten message embroidered on our handkerchiefs. Now, of course, this can be done, but I need to think about how to automate this process

10:06
so as few humans have to touch it as possible. But all told, I’m very happy with how Bumblebee Linnens performed this past year. It wasn’t a huge growth year for us, but more of an infrastructure year as we lay the groundwork for the future. Meanwhile, my other business over at mywifequitterjob.com had an incredible growth year. All told, revenue from mywifequitterjob.com increased by about 60%. Now, if you’re new to this channel, My Wife Quitter Job makes money with advertising, affiliate marketing, sponsorships, and core sales.

10:36
I also run an annual e-commerce conference called The Seller Summit. So if you ever want to hang out in person, you know where to find me. I’ve been running this event for the past eight years and it sells out every single year. Now to be straight up with you guys, I didn’t really do anything different with MyWifeQuitterJob.com in 2023. But what amplified the growth was two main factors. In May of 2023, I launched my first book called The Family First Entrepreneur, which hit the Wall Street Journal bestseller list. Now how did launching my book grow my business by 60 %?

11:06
It didn’t. And the truth is, is I made literally zero dollars from the book. Every penny of the six figure advance I received was spent on marketing and a book launch coach. But the main reason why the book caused my business to grow so much as a whole is because I nearly killed myself marketing the book in the first half of 2023. I went on over 50 podcasts from the middle of February till May. And I remember some days where I was doing four podcast interviews per day. Then all these interviews were simultaneously released during the first week of May.

11:36
which caused a gigantic surge in traffic for my brand. All of sudden, I was getting random inquiries about my course. Meanwhile, my YouTube channel surged as well as my blog traffic, which contributed to a ton of new course sales. Meanwhile, on the content generation side, I hired a couple writers to help me increase my content production so I could attract more email side-ups and then guide them to my book. So overall, the book didn’t really contribute to my growth, but the process of marketing the book made all the difference. So looking back,

12:05
writing the Family First Entrepreneur was one of the most memorable experiences of my life. I literally found out that I hit the Wall Street Journal bestseller list just before the closing keynote of my conference over at the Seller Summit. So I was able to tell the entire crowd live on stage that I hit the list and it felt so good. The other major contributor to my income was that my advertising revenue went through the roof. Remember when I said that my YouTube traffic and blog traffic spiked? Well, at the peak,

12:32
I was making almost 30,000 a month from YouTube ads alone and my blog was generating almost $10,000 in completely passive ad revenue. Now, unfortunately, the book launch hype eventually died down, but my YouTube channel now is over 280,000 subs and continues to be a huge contributor to email signups and ad revenue. So what’s in store for 2024 for my web Twitter job? My goal is to scale my YouTube channel. Now it’s still only the third week in January, but I’ve hired a script writer to help with my YouTube videos.

13:02
In addition, I’ve also hired someone to help break these videos down into YouTube shorts. Now this is just a test and I’m currently weighing whether it’s worth it to hire a human versus just using AI. But the goal for 2024 is to be everywhere by producing more YouTube shorts, YouTube videos, Instagram reels and TikToks every day and multiple blog posts every single month. The goal is to continue to expand my personal brand. Hope you enjoy that episode. Now I’m really excited for 2024.

13:30
And if there’s one key takeaway from all this, it’s that everything that I’ve ever been successful doing has been hard. So just go out and do hard things. For more information about this episode, go to mywebcoderjob.com slash episode 514. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go over to sellersummit.com.

13:59
And if you are interested in starting your own eCommerce store, head on over to mywifequaterjob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

I Need Your Help

If you enjoyed listening to this podcast, then please support me with a review on Apple Podcasts. It's easy and takes 1 minute! Just click here to head to Apple Podcasts and leave an honest rating and review of the podcast. Every review helps!

Ready To Get Serious About Starting An Online Business?


If you are really considering starting your own online business, then you have to check out my free mini course on How To Create A Niche Online Store In 5 Easy Steps.

In this 6 day mini course, I reveal the steps that my wife and I took to earn 100 thousand dollars in the span of just a year. Best of all, it's absolutely free!

513: Meet The Man Who Makes Millions Teaching Millennials About Money With Bobby Hoyt

513: Meet The Man Who Makes Millions Teaching Millennials About Money With Bobby Hoyt

Today, I’m thrilled to have my good friend and mastermind buddy Bobby Hoyt on the show.

Bobby is the founder of Millennial Money Man, where he teaches millennials how to make and save more money. His blog has been featured in Lifehacker, Forbes, Market Watch, CNBC, US News, Business Insider and countless other publications.

A couple listeners have recently emailed me asking me whether blogging is still a viable business model. So instead of just saying yes, I invited Bobby to come on the pod because the man is killing it online.

What You’ll Learn

  • How to create content that makes money online
  • How to make and save more money as a milliennial
  • Is blogging still a viable business model

Other Resources And Books

Sponsors

SellersSummit.com – The Sellers Summit is the ecommerce conference that I’ve run for the past 8 years. It’s small and intimate and you’ll learn a ton! Click Here To Grab Your Ticket.

The Family First Entrepreneur – Purchase my Wall Street Journal Bestselling book and receive $690 in free bonuses! Click here to redeem the bonuses

Transcript

00:00
You’re listening to the My Wife Could Her Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Now I’ve been getting a number of questions about whether blogging is a viable business today. And instead of just talking about my own blog over at mywifecouldherjob.com and telling you how well it’s doing, I figured I would invite some of the other bloggers in my mastermind group to share their story. So today I have my friend Bobby Hoyt, who is the founder of Millennial Money Man.

00:29
and the man is killing it online. So is blogging still a viable business model? Well, you’ll find out in this episode. But before we begin, I want to let you know that tickets for the 2024 Seller Summit are now on sale over at sellersummit.com. The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online. And unlike other events that focus on inspirational stories and high level BS, is a curriculum based conference where you will leave with practical and actionable strategies

00:58
specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business, entrepreneurs who are importing large quantities of physical goods, and not some high-level guys who are overseeing their companies at 50,000 feet. Now, I personally hate large events, so the Seller Summit is always small and intimate. Every year, we cut off ticket sales at around 200 people, so tickets sell out fast, and we’ve sold out every single year for the past eight years. Now, if you’re an e-commerce entrepreneur making over 250k or $1 million per year,

01:28
We also offer an exclusive Master My experience with other top sellers. The Seller Summit is going to be held in Fort Lauderdale, Florida from May 14th to May 16th. And right now, this is the cheapest the tickets will ever be. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 50 % off right now. My book will teach you how to achieve financial freedom by starting a business that does not require you to work yourself to death. Plus, you can still access my free bonus workshop,

01:57
on how to sell print on demand and how to make passive income with blogging, YouTube and podcasting when you grab the book over at mywifequitterjob.com slash book. So go over to mywifequitterjob.com slash book, fill out the form and I’ll send you the bonuses right away. Now onto the show.

02:18
Welcome to the My Wife Quater job podcast. Today I’m thrilled to have my good friend and mastermind buddy Bobby Hoyt on the show. Now, Bobby is the founder of Millennial Money Man, where he teaches millennials how to make and save more money. His blog has been featured in Lifehacker, Forbes, MarketWatch, CNBC, US News, Business Insider, countless other publications. Now, a couple of listeners have recently emailed me asking me whether blogging is still a viable business model.

02:47
So instead of just saying yes, I invited Bobby to come on the pod because the man is killing it online. And with that, welcome to show how you doing. Hey man, I’m good. good, man. That’s a, that is a tough question to start out with. Um, I think the answer is yes. Kind of, I don’t know. I’m not, I’m not super bullish on like just starting a blog and that being all that you have anymore. Like I don’t even think that that’s what really people do anymore. I think a blog is just part of your marketing strategy.

03:16
And I think, I mean, we still make really good money with it. I do have some concerns about AI. I’m sure we’ll talk about that. Like, yeah, I have some concerns about that. I’ve just got thoughts about like, maybe how people are consuming content. Like it’s really, it has shifted away from, from blogging quite a bit to video. So I don’t think it’s dead per se, but I don’t feel the same way I felt about it in 2015 when I started when it was like you were a blogger. Now it’s just kind of like part of our marketing strategy.

03:45
I agree. Yeah. Hey, so Bobby, it was, great seeing it. FinCon. I to say a couple of days ago. It was like last week. I don’t know. It feels like it feels like I’ve had, it’s funny. I was on vacation and then we went straight to FinCon and actually like we, brought the team, the Millennium Money Man team. Yeah. We brought all the employees out. Like we did like a planning thing too. So it was like a very hectic week. So I don’t remember how many days ago it was, you know, what’s funny though. And I was telling you this before we hit the record button is that even though we’re in the same mastermind,

04:14
I actually don’t even really know your story. Yeah, yeah, we are what motivated you to start millennial money, man. And I can never pronounce or spell it. I apologize. But yeah, how did you get started with it with the blog first, right? Yeah, so basically, for me, I was a high school band director. And that’s what I thought I was going to do the whole time I was in high school and college and everything. And I was just I didn’t really know what I wanted to do with my life. But I was good at music. And I liked band for whatever reason.

04:44
And so I went into music education, got my degree, had about $40,000 student loan debt. And then I got my first job and like maybe within the first three weeks, I realized like, hate this job. Like I was, I don’t know what it was. I mean, it just, felt trapped like instantly. And it’s probably a lot of entrepreneurs feel that way, but like, um, I just knew like, I can’t do this when I’m 50 years old, like I cannot be a teacher. And so, um,

05:12
really actually the first thing I was going to do started a swimming pool company. I had a friend, a family friend that owned a swimming pool company. And so in the summers for after my first and second year of teaching, I would actually go and like work on pool equipment and like out in the sun, you know, I live in Houston, so it’s like freaking hot here. But that’s, you know, I was trying to figure out like, is this a good business to, to maybe acquire someday or to start my own? And I didn’t, I kind of, there’s a lot of physical labor. was like a lot of manual labor.

05:40
Yeah. And I, but you can make really good money doing it. You could certainly become a millionaire doing that. And, uh, but I just had a conversation with my wife who at the time was my fiance. And I was just like, I think I want to do this. And she basically asked me like, not to like, please don’t do manual labor. Cause her parents did a lot of manual labor growing up. And she was like, it’s, it’s going to have like these really negative consequences on you and you get older, which is true. Like you have surgeries and stuff like that. Like it’s really, you know, it’s not good to do that to your body. So then I kind of went back to the drawing board and,

06:09
I started writing about at the same time I was paying off my student loans and actually ended up paying off my student loans, I think in 18 months, something like that. We did a lot of things like we rented a room from her parents and you know, was very, so yeah, it was really just like, I just decided, you know, I was gonna I paid off my student loans, we kept the expenses low. And really what happened was I just got really excited about money. For some reason, nobody had ever talked about money ever in my entire life, like my parents didn’t talk to me about money. No, I, know, but I had a

06:39
the same guy that on the swimming pool company, he was like, Hey, if you’re not going to start a pool business, like you at least need to like pay off your student loans, like you need to be really aggressive with that and then start saving. And so I started writing about it on medium, just like my story of like how I paid off debt. And then I started doing a little bit of a deep dive. And I was like, Oh, wait, you can actually make money just like writing stuff. Like I had no idea. I found budgets are sexy.com, which actually had Jay money on my podcast the other day. And Aaron, let’s see it again, by the way.

07:09
Yeah, he does. Yeah, he he bought it back. He required it from Motley Fool. And we had a long conversation about that. But yeah, so I just you know, I was like, Oh, these people are making money online. And so I, I created a website, I found the domain name, linear money, man. And I actually made three, I made $3. And then I quit my job. And I don’t think that that’s something I could, like, I was so young, and our expenses were so low. And like, I was so fed up. But I was just like,

07:37
I think I can do this. And so I just, I just went in, you know, and I was like, I’m my job. And from there, I had to like figure out how to actually make money. That’s what, that’s what was the worst. What I, when people say they want to start a blog, it’s like, takes so long to make money. How long did it take you? I don’t think I was making from the blog itself. It probably took me like well over a year and a half to make like what would be maybe

08:04
full time maybe, but I had to start, I started a digital marketing agency to basically like make things work while I was trying to grow the blog. And that’s where I started making money. And so I grew like a small, like local SEO agency. Uh, and then eventually the blog got featured on CNBC and that’s when things kind of started to take off a little bit. Um, and then you fast forward today and it’s like, we’ve, we’re going to have six full-time employees, I think in January, uh, we’re probably going to rebrand the site at some.

08:32
know, at some point, because millennial is hard to spell, hard to say. So yeah, we’re just now we’re just growing more of a like a media company than just a blog. I think it took me two years to make anything meaningful. And I think it took me three years to make six figures. I have all the numbers down for historical purposes. But yeah, you’re right. It does take a long time. Yeah, it’s just slow. And I think it’s it’s one of those things like, if you started a blog now, like

09:00
You know, the competition thing doesn’t really like there’s always competition in every business that you’re going to start. So like that part when people talk about like it’s over saturated or whatever, like doesn’t matter what you do. Like if I had started the pool company, I would have had like 10 competitors in the local area. right, that’s not the issue. But I think that with how Google is changing, and it’s like, I actually was running ads, like that’s, that’s how I grew my audience in the in like the very early days Facebook ads. But they were so cheap, I was spending like a penny, it was like a penny.

09:28
per click, you know, was like, you could get 1000s and 1000s of views for not very much money. you? Yeah, yeah, it’s way more expensive. And you can arbitrage it, like you could put ads on your your landing pages, or you could like have some affiliate offers and maybe not like make a ton of money, but at least break even and grow your audience. So that’s what I did initially. Now, I think it’s like everything so I think actually starting a YouTube channel would probably make more sense for somebody who just starting a blog.

09:56
And that’s our company really has been shifting. I just hired a new head of content that specializes in YouTube and has grown some pretty big channels. And so we’re kind of shifting as a company over to video. And then the blog part of it is going to be, you know, hopefully a secondary source of traffic for us over time. Can we talk about why that’s the case? Do you think it’s because of AI and you mentioned Google, what about Google has changed the way you feel? I think Google kind of sucks. Like, I don’t know, like

10:25
just try to use Google. Like, I don’t know. And it’s what I see all the time. It’s like, we have all these keywords that we rank number one for and are top three and that they drive great traffic. But then like, then you go and you see what Google’s doing and like they’re testing out their, their own features, you know, where it’s like, instead of you being number one else, and they’ve got their own tool that’s number one, and they’re just like, kind of aggregating stuff at the top, you know, and that’s not even the AI stuff. That’s just them. I don’t know. It’s like, it’s like, I just don’t trust that they’re going, I don’t think that they have like the publishers.

10:55
best interest in mind. Um, and I’ve always, what I don’t like with Google too is just, I don’t like the idea of like my business could take a really bad turn at any time based on something that I have no control over. like an algorithm change, or if they decide to implement Bard, um, their AI stuff, like if they decide to really heavily implement that and then all the organic search, like I just don’t like that. Like that freaks me out, especially when you have employees and stuff and you’re like trying to think of like, you know, people’s families and protecting the company and stuff like that. I just feel like,

11:25
I just feel like Google as a product isn’t as good as it used to be. if you look at a lot of results, they’re just not as good as they used to be. There’s a lot of trash content out there. Um, and I just, I’m not sure. I don’t think it’s going to just go away, but I’m just not sure that they’re gonna, I think paid is going to become even more important. I think it’s going to be like AI with paid and then some search results. I just don’t think it’s going to be that great. But YouTube on the other hand, isn’t, I don’t think AI impacts YouTube as much right now.

11:52
But I also think it’s just a better product. I think that people like video, it’s easier. We sell courses. And when you sell courses, think video is a much more powerful way to sell than just email copy or especially blog posts. Like it’s very hard to sell courses from just cold traffic that comes in from Google, even if it’s like high search intent. YouTube is different though, because it’s like the trust is there. They can see your face. They know that you’re a person, right? So that’s another reason why we’re kind of shifting to YouTube.

12:22
I mean, some would argue that YouTube has similar problems. I mean, it’s owned by Google and algorithm change has happened many times over the course of YouTube as well. And there’s a bunch of faceless YouTube video crap being pumped out there too. But you’re right. It’s less so than, in the written world. Yeah. think it’s just less bad. Like I think it maybe gets, I don’t know. I think with all the stuff, feel like it just, one of the things that’s interesting, and this was maybe every business, but like, I think that it, things change so much.

12:51
And I, I’ve been doing this for eight years now, eight, nine years. And it’s like, I’ve never been able to feel like we just have a strategy that’s in place and it just works all the time. It’s like everything it’s like, you’re like, everything’s always changing. Like you’re always having to kind of like figure out what the next move is. And, and I feel like, I dunno, I feel like that is if we can build out more video content and, I dunno, I think it’s just a little bit safer that, I agree with you.

13:20
I’m just curious, though. Does the blog generate you more leads or just video? The blog for sure. The blog by far. Like and that’s I mean, that’s where we will be really close to about 2 million in revenue this year. And that’s like almost all from the website. So it’s kind of one of those things. It’s like we make great money from it. But like, I still don’t trust it. And so that’s why we’re kind of diversifying. And we’re making a lot of diversification moves like into video for sure. But we’re also going to do things like a

13:49
we’re going to acquire a bookkeeping firm. That’s one of our goals. And that’s because we have a bookkeeping program that we sell and we feel like it’s a good, it’s good practice to actually own the thing that you’re, you know, that you’re teaching other people. Like we have a great instructor for that program. But if we also on like a boutique bookkeeping firm, then we can stay up to date on everything that’s happening in the industry and we can give it, make it a testing ground for our students. And

14:15
just feels like a good play. But also it’s it’s revenue that’s completely detached from Google or YouTube or anything online, really. I mean, it’s it’s a it’s a service based business, right? So we don’t want the biggest one in the world. But we want something that’s just a good diversification play for protecting salaries and all that kind of stuff. Plus, it’s sticky. Like once you have a bookkeeper, they tend to stick with you forever. So with the with the bookkeeping stuff, when I was talking to my accountant about it, and we were we were like, Okay, we’re to create this this program. It was like,

14:43
the LTV on these customers, like they just stay forever, you know, and it’s like, it is hard to find. went through several bookkeepers before I found a good one. And once you find a good one, it’s like, you don’t really want to mess with it. Like you just kind of let it go. They just do their thing and it’s a super valuable service. And I think it’s one that isn’t AI has already come to bookkeeping, which was a really interesting piece about that. Like, you know, quick books and all of them, like they, they use AI, but it’s a lot.

15:10
less likely that AI is going to completely replace bookkeeping. Right. Because I think you there’s so many different tax strategies, there’s so many different like, kind of nuances to tax and bookkeeping that I think would be difficult to replace having like human review, you know, so it just feels like a really good, you know, diversification diversification play for us. And, and I think it just really supports what we’re doing from a program standpoint, too. I forgot to ask you this in the beginning. How does millennial money man actually make money?

15:40
So we, we sell, we sell courses. So we have a proofreading course called proofreading launchpad. have a bookkeeping course called brilliant bookkeeper. We have a freelance writing course called big money writer. And we have two or three more courses. I’m not going to say the names of them yet, but we have two or three more coming out next year. And then we also have affiliate revenue, like our, by far our, the most of our revenue comes from affiliate revenue. And that’s just from, you know, sending leads to different companies, right? Like we’re, pretty big in the driving space. We’re,

16:09
doing, we’re starting to grow in the survey space too. So yeah, we’re just, you know, we sling leads out, you know, and then we, we don’t do a lot of sponsored stuff in terms of like sponsored content, because I don’t think that we have enough audience to like command, like really big, like enough to make it worth it, because most of our traffic is SEO. And like, a lot of times, like, that’s kind of hard to sell as a sponsored thing. But outside of that, we’re gonna have, we have a high ticket program that’s coming out next year as well. It’s an accounting program.

16:39
for for accounting professionals that want to scale to six figures and beyond. And we’ve got just a whole bunch of stuff. I got this whiteboard here with like the entire business plan, then there’s like a ton of crap on it. But it’s like, you know, we’re just we’re just trying to grow a lot of programs that can help people and try to make like a real impact. I know that sounds a little sappy, but like I just some there’s something like kind of soulless, I think sometimes about affiliate revenue, and affiliate marketing, where you’re sending people to just

17:08
you know, somebody else’s marketing funnel. And I think you can help people for sure. But it’s like, are you really like making a big difference in the world? And I don’t, I don’t know all the time. I don’t think so, depending on the product. But so that’s kind of part of the goal to you mentioned driving programs. Were we talking like Uber and Lyft? Yeah, yeah, just all the driving, all the driving programs. I mean, we’ve, it’s one of those things that I think a lot of people are interested in making money that way. It’s not the best way to make money in the world, like you’re not going to get rich doing it. But

17:37
it does help people in a pinch. And I think that it’s a lot of people’s, the feedback that we get from everybody that’s on our list and everything is like, they enjoy it. It might not be like, not like a second rich, but like they seem to enjoy it.

17:50
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18:19
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18:31
You know, one thing, and I’ve been doing affiliate marketing for over a decade now too. One thing I don’t like about it, even though it’s, pretty easy is like I spent all this time ranking a post and search and then they changed their terms. Like, Oh, by the way, we stopped the lifetime payout or by the way, we’re canceling our affiliate program. That always makes me nervous. hate that. And that’s, that’s why we diversified the courses so much. Like that’s why we’re leaning so heavily into it. just, it’s like, I don’t want my revenue to.

19:00
to go away because there’s somebody had a meeting in some place at some time decided to cut their marketing budget. And then I have no, I, and like, that’s, that is frustrating about affiliate marketing too. Like it doesn’t happen in every program, but when, when they get cut, it’s like instant. It’s like, you spend all this time building out these funnels and all this time trying to work with the affiliate to like optimize things and, you have your team working on it you’re working on it. And then you just get an email that’s like, Hey, sorry, this is a, they decided the program’s over. So please remove all your links tomorrow.

19:28
or whatever, know, exactly. And so like, for me, it was like, I could either really diversify from an affiliate standpoint. Or I could diversify to something that we sell in house, like we control our own product, we sell our products. And we just use Google for the traffic, you know, and I think that feels like a safer, better business model to me, or just at least feels like one that freaks me out less, you know, I can sleep at night. you named off a whole bunch of courses.

19:57
I have two and and it’s actually a lot of work just maintaining to what is your philosophy is your philosophy you like find an instructor that just handles that course and they get a cut of it. Like, yeah. Yeah, so we typically we have a couple of different ways that we have done this. The instructor of our proofreading course, her name is Ariel Gardner. She’s actually a full time employee. So we give our employees the opportunity to create programs if they have something they like have expertise in.

20:27
And we do structure it like a royalty agreement with them. And it is also like if they’re an employee, like they get the benefit of like we have profit sharing and we have, you know, equity pathways for some of our employees. So like, they create the program, they kind of manage it as part of becomes part of their job responsibility to like, you know, make sure the content is up to date and be kind of the coach for the community. And then in turn, like, you know, we share revenue back with them and they kind of have the ability to make more money. So

20:54
The other setup that we do is actually like for our brilliant bookkeeper course, we brought in, we interviewed a bunch of different bookkeepers and like we knew we were creating this program, but we wanted to have somebody that actually owned a bookkeeping firm as the instructor. so we brought her name is Kristin Metter, but she came in, she basically like, she interviewed really well. She was awesome. She’s great on camera. She had really, really good ideas for the program. So she became the instructor and then we do have like a royalty agreement with her.

21:22
we’re working we’re working on trying to get her full time as well. So we’ll see what happens with that. But but yeah, it’s basically just finding experts and people that align with the team. And I didn’t want to have something where I was the instructor of every program that we do. Just it’s just not, you know, I can’t do that. I’m not an expert in that many things. But yeah, it’s actually worked really, really well like that. I was it was very experimental thing that we were doing. But now, it’s just worked so well. It’s like, okay, we’re just going to continue to do this model.

21:52
Cool. No, I like that. I like that. It’s the only way to really make it manageable. Yeah. Yeah. So you got the courses, you got affiliate revenue, and I’d imagine you get people to sign up for the classes through email, right? Yeah. Yeah. Primarily. We’re actually rolling out new funnels right now. But primarily, like we have people coming in from search. We also are running paid as well. So Google and Facebook. And we’re it’s just we do like evergreen webinars.

22:21
every evergreen webinar funnels. And so people sign up for time as typically pre recorded, although we’ve done some live webinars as well. I think you do live webinars. I do live. Yeah, can we talk about the automated ones? Yeah. How do they perform compared to the live ones? I don’t think that they’re gonna. So we don’t. We don’t do it at the same scale that you do. I think you’re going to get a much higher conversion rate on a live than you would on the evergreen. But our kind of ideology is like,

22:50
we’ll take a lower conversion rate across the funnel with that if it makes it to where we don’t have to like do the live, like do it live all the time. But we’re, you know, we’re not even really that interested in this is gonna sound a little crazy. But we’re not even interested on making money on the front end with the programs, we have coaching communities on the back end. So that’s where it’s like, if if it costs us, you know, four or $500, if we’re running paid, if it costs us like four or 500 to make a sale for four or 500, we’re totally good with that. Like we love breaking because then you can scale them up.

23:20
Um, and I just think like it’s, don’t think it’s realistic these days to sell low ticket products and expect that they’re going to be very profitable on the front end with the, with how ad costs are, um, and how much, how much you have to do in terms of ads. Like people don’t just buy stuff. Like everybody’s wise to webinars now. Like that’s like we’ve seen webinars, especially the evergreen stuff. We’ve seen that conversion rate pretty steadily drop over the last five years. When I first started selling courses in 2018.

23:48
it was so easy to sell courses. It was like the easiest thing ever. But you know, the consumers, get they get kind of wise and things they know they sign up for a webinar and they’re going to get pitched. And so what we’ve done is we’re taking a much more transparent approach to all of that. We’re redoing all of our evergreen webinar, webinar funnels to basically say like at the beginning of the webinar, like you’re going to get pitched like we have a product we sell things we’re going to try to sell you something. But we’re also going to try to give you as much value as we possibly can up front. And then if you don’t buy cool, but you know, hopefully you learn something and then we

24:17
you know, do a lot of follow up as well. But yeah, so I think it’s it’s not the most efficient funnel. But it’s, I feel like it’s more scalable for us as we move forward. And it just like you talked about, like manpower and like, what do want my employees doing? Like, I don’t want them doing lives all the time. Just because I think that if we can automate it, actually, I mean, if you’re breaking even from the ad costs, and that’s just like free email subs, essentially, right? Yeah, it’s free leads, it’s free customers. And like we’ve seen

24:47
pretty often, like, in our back end data, like, customers buy more than one product from you. Like if you build if you get them into a program, and they buy a really great product, they might go like, you know, maybe proofreading is not right for me, but they might go and buy the bookkeeping course instead, right? Like we see that kind of cross pollination. And so and then eventually, like we want our customers to go and buy our high ticket programs. And we want them to go and go to our paid mastermind events. And then eventually, we’re gonna have a conference that we do. So you know, we’re we’re fine, like,

25:16
getting customers for free is a is a good thing. You know, and that’s, that’s kind of our thought. is the price point on the auto webinar? So we do either depends on the program, we either do 497 or 597 right now. Okay, although we are going to experiment with like, probably more payment plans or lower prices, like I don’t, we’re not officially in a recession. But like, I think that we are definitely in one. And I think that it’s

25:43
you talk to people, you know, our web developer, he’s, he’s actually going to be an employee with us, he’s coming on, but he, the company that he’s leaving, he was talking about, like, their travel budgets for the year, like, there’s, starting to tell employees, like, hey, we’re, you know, we’re not going to travel as much next year, like the economy is tightening. when you start to see the corporations do those things, it’s like, okay, we’re gonna have some headwinds, I think going into 2024. It’s just a matter of like, how bad, you know, and so I think that it’s going to be hard for people to stomach a six $700

26:13
program, you know, and I just, I don’t know that though. So we’ll kind of figure it out. But there’s also a lot of different payment options now. And, you know, whether that’s actually a good thing for what you sell, because it sounds like a lot of what you sell helps people make money in a specific discipline, right? Yeah, yeah. So why is that? What do you feel like that’s not good? No, it’s good. It’s better, right? Okay, okay. Okay. So I don’t know if being there’ll be as price sensitive.

26:41
It depends. mean, it definitely depends on the program. We see the people that my in my other business laptop empires. I didn’t even talk about that. I own another company called laptop empires. We teach people how to run Facebook ads for local businesses. That was the first course that I ever, ever did. It’s like the buyers for different disciplines are much different. Like a proofreading buyer is probably somebody that doesn’t want to spend as much money. Whereas like the bookkeeping course, we feel like we command higher prices for it. You get a lot of professionals that come in that people

27:08
people that already have a bookkeeping firm or accountants that want to add bookkeeping as a service. And then with the Facebook stuff, like we get a lot of like existing agency owners that want to learn how to do local ads instead of ecom ads, like they want to add that to their skill set. like, it just kind of depends on what the discipline is. But you know, some things we feel like that the bookkeeping one probably has the highest upside potential for us. Because, know, if you have, especially if we have a high ticket program for accountant, accounting and tax professionals, like they can afford

27:38
programs. Like that’s, that’s not something that, you know, three or $400 would be like nothing to a lot of those people. So it’s just one of those things like, it’s all different, but we, we don’t really judge it based on like, I don’t know, which, which course makes the most money. It’s like, we just want to put things out there that we believe in and, you know, help people really, I the book kicking course is kind of like real estate, right? It never goes out of style. Whereas Facebook ads, who know, I mean, there’s a big disruption.

28:06
not too long. Shockingly though, Facebook ads have been relatively stable. It’s been an interesting thing with Facebook. So we put that course out in 2018, the Facebook site also course, and it crushed. did $136,000 in our first weekend as a company. And we got to seven figures in 14 months. And that it was like the easiest course to sell ever because Facebook was popular. Like there was a time where people didn’t hate Facebook. That was like 2017, 2018. And then

28:35
Facebook went through all of their just, you know, everybody started figuring out the privacy stuff and like they just were under a lot of scrutiny and congregate, know, the congressional sessions with Zuckerberg and he looked like a robot and a weirdo. Um, and so what we found is like, there was a dip in popularity of that program, but then they switched to meta and that is dumb as it sounds like them just changing their name to meta has made a huge difference in terms of like trust and like, you don’t hear about them in the news anymore. Like that was a, that was a very like smart play.

29:05
to just completely rebrand the company and it worked. Interesting. Yeah. So let’s switch gears again and talk about that first question that I asked you and AI and how it’s affecting the way you do things. One, are you using AI for your content creation? And two, how do think it’s going to affect just the entire landscape of what you do?

29:32
I don’t know, to be honest with you. mean, in terms of are we using it? We use it very sparingly. We don’t have like all of our content team spitting out AI. Actually, we went to, I don’t know if you went to the session of FinCon, but one of them, were just saying like, they’re generating, they said the strategy right now is like generate tons and tons and tons of content with AI and then just like upload it all to your website at once. you know, Google’s come out and said that they don’t want AI, but then they’ve kind of relaxed the thoughts on it. Our thing is like,

30:02
What we’ve been doing has worked for a long time where we have a very like personal sounding, like when you read our articles, they’re not like boilerplate stuff. Like it sounds like it’s conversational tone basically. And that’s worked extremely well for us. So we’re kind of like, why change something when it’s still working? And sure we could put out more articles, but I’ve also seen this thing that happens with blogs where they start, they go, okay, we rank really well for this thing and we’re making money in this vertical. So let’s just expand.

30:28
like crazy. Like, let’s just put every vertical and like talk, you know, like we’ll talk about everything and make all this money and then their site tanks because they’ve ultimately like Google is like, what the hell is this site? Like we don’t even know what this is anymore. And so we’ve intentionally kept it very narrowly focused in a couple of like we’re a make money site and make money brand. yeah, we’ve, we’ve intentionally kept it really focused and, we’re trying to stay very disciplined with that. And that’s why we’re expanding to like YouTube and other platforms as well. And we’re just going to kind of keep what we have with the blog going. And

30:57
know, it’s in terms of like AI and what I think it’s gonna do. I don’t think it’s gonna like, completely get rid of, I don’t even think it’s gonna get rid of like writers necessarily. I think that it’s more of like, it’s more that people are just gonna have it there. Paul Pant give a really good speech on this at FinCon where it’s like the the people become the curators. And it’s like you’re the tastemaker, I think she said. And that was actually a really great point because it was just like

31:22
you can get AI to do some really incredible things. But at end of the day, like you still have to decide like, is this going up on the website or is this not? And I think that that’s where a lot of like the services that provide like content and things like that, like it’s going to be more of like consulting almost, or like, you know, trying to just make sure that it’s like conversational and not too, you know, not too dry. So I do think that AI is going to have a big impact. also think, I think we talked about this one point.

31:49
I think it’s gonna happen a lot slower than people kind of think. Like AI came out, chat GBT, like everybody was like, oh my gosh, it’s the craziest thing ever. But like, I don’t know, most people still use Google. I was talking to my, my sisters, kids. I always like to talk to like my nieces and nephews to get like a feel for like what’s going on on the ground right now, you know? And they’re like, yeah, nobody uses chat GBT. they’re like, everybody uses Google. Like I think that people are creatures of habit. And I think the chat GBT stuff is really cool, but I don’t see like mass adoption right now. I think it’s gonna be.

32:19
take several years for the stuff to like really, really get ingrained. But I could be an idiot too and it might just happen really quickly. Like I have no idea. I just remember when I was in college a long, long time ago, Yahoo was the leader and everyone was using Yahoo and within one year it flipped to Google. That’s all I remember. Yeah. Yeah. No, you, think you mentioned that to me last time and that could for sure happen, right? Like that’s a super possibility, but like, I just don’t think, I just don’t, I think that Google

32:47
I don’t know. think that this stuff is like AI has been being worked on for so long. I didn’t realize that. Like I didn’t realize that AI has been this like decades long project. And I, and I think that, um, Google’s going to figure out a way to compete well, you know, like I don’t think that Bard is from what I’ve used, seen and used. It’s like, it’s not as good as what chat GPT can do, but like, I still think that people just are creatures of habit and they’re going to just keep going to Google until chat GPT is so much better that they just can’t, you know, avoid it. But I don’t know. We’ll see.

33:16
Did you play around with Google? can’t remember the acronym now, but I think it’s GSE. Basically, it’s this switch that you turn on in Chrome. And the top search result, which takes up a third of the page, is the AI-generated answer. Yeah, I that. I did see that. And I had a conversation with Robert Farrington about this. He was like, well, Google still needs the content from the sites to create those. It’s not creating its own content. So Google would either have to hire just their own in-house

33:45
publication team that AI is scraping or, you know, they’re still going to have to use publishers in some ways. So he believes that like AI is going to have like no impact on like, and they’re just basically it’s just kind of a gimmicky trick thing. I don’t think that I believe that, but he had a good point of like, they’re, replacing with AI, but then they’re also still giving credit to the, blogs that created the content. And ultimately I think the biggest thing is that like ads aren’t going to go.

34:13
Like that, like if you can get a profitable ad strategy, like that’s not going away ever. Like that’s, that’s how they make their money. Right. So like, that’s what we’re really focused on too, is just like profitable or break even funnels with ads. Cause I think that that’s, that’s the real surefire bet in the future. So in terms of the actual content on your blog, are you focusing that on just like bookkeeping content, proofreading content, that sort of thing, or just across the whole moneymaking landscape? Yeah. Yeah. So, um,

34:39
Freelancing, freelancing, side hustles, investing, passive income. We’re really just staying in those lanes though. I think we are for sure we’re using the site to generate leads for our courses, right? Like it fits really well. And we think that we have a little bit of an advantage there. Like I don’t wanna go into all the reasons why, but there’s an advantage I think for us to go after those verticals. And so it’s worked really well. What I will say is that I don’t think that

35:09
the quality, I’m gonna say quality, it’s just hard to sell courses off of cold. It is just stuff that comes in from Google, even if it’s like super, super high intent stuff. It’s just difficult. People if they’re gonna buy something like it takes, I think video accelerates the process a lot faster. But like people are really like, so you know, I think like I was saying video accelerates the process. But if people are going to spend four or 500 bucks on something like they they do a lot of searching around like they don’t just look at a blog post and go by.

35:38
they look at a blog post and they look at reviews for the product and they go onto YouTube and they look at reviews and they like they’re just trying they really do a lot of research before they do like a buying decision. And so it’s like it just helps. It’s part of it. I think for us is like we just want to get as many people in our funnels as possible and then just like nurture them. But you know it’s it’s just like I just don’t think that that traffic that comes in is like the be all end all for courses is great for like

36:07
surveys and stuff like that, you know, like easy conversions, but for things that actually take a real funnel, like it’s tough to get those people to convert. So you’re going all in on video. Can you just give us a preview of your overall YouTube strategy? Are you going to put out the same content? Are you going to have special content just for YouTube? Are you going to take blog posts and turn them into videos and that sort of thing? We’re doing a little bit like we’re basically, we’re going to be doing some, you know, some of stuff that works on the blog. We’ll do that on.

36:36
on YouTube as well. we’ve actually, you know, our channel is very small, but we’ve already seen like success with that. Some, some of our videos are starting to really do well. But really, I think we’re going to take more of an approach. And I think, and you can tell me this, but I think that it’s YouTube is more rewarding, like just really good entertaining content versus like search content. Correct. And so we’re going to take that approach. And I think it makes sense for us to just take that content and then we’ll do, you know, I’m sure we’ll use it for social and all that stuff, even though I’m not even really concerned about social at all. I don’t, I don’t particularly care about TikTok or any of other ones.

37:06
at this moment. But I we’re gonna make what we think is like really good entertaining content. And, you know, some of it will be search based, but probably not very much of it. entertaining kind of implies like a funny script and just writing those things from scratch, right? I don’t want man, I don’t know everything’s, you know, it’s there’s so much more that goes into a YouTube video than I realized.

37:32
you know, it’s like, you know, within the first few seconds, like you have to have a great hook. And it’s got to like, you really have to grab people in that first period of time. And then the new head of content that I hired, Frankie, like he’s, as he was detailing, like the YouTube strategy and like how you make a good video pop off. But he was working on a channel that he got to 1.3 million subs, I think. Wow, crazy. And it’s just the reality is like, it takes a lot of editing. It takes every video takes a lot of thought.

38:01
and really like intentional. I don’t know, like the, it’s not just reading a script. It’s like, has to really be intentional with the music and the timeline of what you do within the first X amount of seconds and all of that. So it’s something that’s going to be a beast of a project, I think for us, but like, I think it’s still, I think net it’s still worth it to go down that road. I mean, it’ll create this huge moat for you also. hope so. Yeah, I hope so.

38:31
You know what’s funny is I’m actually having Rob Berger on almost an hour after talking to you and you know, Rob, he started this YouTube channel, disobeying all the laws of YouTube. And he’s managed to create this amazing channel. So what is he out right now? What is he at Subway? that 130,000? I think he started like a year ago. I want to say I love dude. Yeah. And his stuff is so good too. But I think that’s what it is. Like, you know, when I was going to say like, what’s entertaining and it’s like,

39:00
I think just being yourself a lot of the time, like being your weird self and you know, like putting putting content out there that you believe in, like sometimes it doesn’t work at all. But like in his case, I mean, he just puts out really good content. And he’s just like, I would have never thought of him as a YouTuber, to be honest with you. Like no offense to him, but I just didn’t think like, he didn’t seem like somebody that was going to go and crush it on YouTube. But then I saw his content, I was like, dang, like he’s, he’s got it. Like he’s got he’s charismatic. He’s got, he’s got like, think the kids would say he’s got the sauce, you know, he does, he does have that.

39:30
You know, he does and he does zero editing, except lopping off the front lopping off the back to I remember, were you there? We were at a mastermind together. And I was like, dude, just just put like a little bit on your thumbnail. Just like what the topic is because before you’re making thumbnails. Yeah, yeah, I was there with him. Yeah. Yeah. Is he doing thumbnails now? He is but not you know, he literally just takes a frame his video and just puts like four words or something like that. Yeah, that’s another thing about YouTube. That’s like

40:00
the thumbnail game, like just the titles and descriptions and stuff like there’s so much that goes into that. And there is with the blog too, but I do feel like there’s you feel like you got to be like a production company, like we’re, you know, we’re about to set up this new thing in our, my office where it’s like, I’ve got a multi-camera set up and all these lights and all this nonsense, you know, but it’s like, that’s what you have to do to have good video. think I think I’m somewhere in between you and Rob. So like you’re looking at my setup right now.

40:27
My bookshelf over here on my right, got a teleprompter and a camera, a foot pedal, and then the lights are all set up. And it’s worked well for me so far. I think there’s just different grades depending on what your delivery style is like. So everyone just needs to figure that out. Yeah. And it’s going to be, man, it’s going to be a lot of experimentation for us. Like that’s, mean, we’ve, we’ve had some kind of early wins with some of our early videos. But I just think it’s going to, it’s going to be.

40:55
slog. But that’s fine, though. It’s like kind of, none of this stuff is easy to like, go back to your first question, like, should like, should you still start a blog? It’s like, you can, but it’s not gonna be easy. All this stuff is really difficult, you know. And that’s why I do think like, you know, the course that you sell or courses that you sell, like courses I sell, like, I do think that that’s why it is important to, like courses, make all of it way faster for people. So like, if you’re going to start a blog, I highly suggest you go and take some

41:23
blog course. I don’t know who has like the top blogging course right now. But like just do that. And it’s like, you won’t have all the, you know, experimentation that like I didn’t have a course or anything. I just it took me forever to figure out what I was doing, you know. Actually, when we started actually when I started I started 2009. It was the wild wild west. Like no one knew what they were doing really. And then Darren Rouse came out and everyone started following him. 2009 man that’s it. You know, what’s funny about the internet is it’s like dog years. Like it’s just

41:53
It’s like I, I feel like I’ve been in business for like 40 years or something, but it’s really been like nothing has been eight years. It’s like nothing in business. And it’s just like, but it, and I was talking to my head of content about this the other day. It’s just, it’s because the landscape changes so fast and you’re always like, you can’t just build this like business that just sits there and like just generates money and super easy. Like it’s always like, you, there’s a, you know, people are trying to take you out, you know, like there’s a lot of competition that’s trying to, trying to take you down and, um,

42:21
the platforms change and the the ad costs change and the algorithms change like everything’s changed at all time and you’re just trying to like navigate through that and hopefully be profitable as you go. Well let me ask you this uh for all the listeners out there who want to do what you do what like what is your best piece of advice so you mentioned first you probably started a YouTube channel and what are some expectations that you would set in terms of time frame and what is probably the easiest way to get some quick wins in terms of monetization early on?

42:51
I don’t think that you should go for quick wins in monetization. And I don’t know if this, is probably a pretty common answer. I used to say like, man, just quit your job and just go all in on the stuff. like, which there is something to that. And I’ll get back to that in a second. I think that the reality is like you, should expect to go a year without making like significant money. Like, and I think you should expect to go six months without making a dime. And I think when it comes to, especially content creation, like

43:20
you always see people try to hack things, right? Like you see all these people try to like hack TikTok and hack the algorithms and all this stuff, but like they never last. Like those people flame out very quickly. What you need to do is get really, really good at your craft. And I, and I heard somebody talking about YouTube the other day and they were, I think it was actually Mr. Beast was talking about it. He was like, you just improve one thing every time, every time you post a video and just get better at it. like maybe a better thumbnail, you know, next time, or maybe a better, I don’t know, better editing or whatever.

43:49
But you have to do that for a very long period of time to where you become an expert in what you’re doing. I think you don’t have be an expert to make money, but like you have to really commit to the craft and you have to really commit to like understanding that it’s going to be really difficult. It’s going to, you know, you’re going to feel like you’re failing constantly. And that never goes away. Cause even at our revenue level, I mean, and every day I’m like, Oh my God, we got to do all these things. We got to get things moving. Like if, you know, it’s like that never seems to stop.

44:18
You know, and you just have to, you just have to really put the work in. and so like, um, and I also think like, if you don’t monetize too quickly, you build a lot of trust with your audience. Um, one of the reasons that I was, well, I say I, my business partner, I for my business partner and I for laptop empires, one of the reasons we were able to, to, you know, reach a six figure launch so quickly and like do seven figures of revenue so quickly was just that I just provided a lot of value for a very long time and I didn’t sell anything to my audience.

44:47
So like when it came time, like only, did that 136 K with a 13,000 person email list. Like it was not a big list. And yeah, but it was just like, just provided a lot of value for a long time. And I, like, I was making money with my marketing stuff. So like, I could just be a value provider with the blog and I did that forever and ever and ever and ever. And then just when it came time to sell something I sold hard, you know, and then it worked because I had built up so much trust. I had built up so much like, uh,

45:15
I guess, goodwill with my audience. And like you hear influencers talk about that all the time, but it’s a very real thing. So I would say like, find some other way to make money, like do some kind of service based thing, become a freelancer in some discipline or whatever, start something that makes money. And then if you’re, content creation and like building a brand is what you want to do longterm, like just do a lot of content creation and don’t sell too much in the beginning. And then once, once you have a good offer, then you can sell and then you sell hard. Okay.

45:44
What were your views on social media? Just curious. You said you didn’t care much for it. Is there a reason why or? Man, I just think that it’s a lot, especially Tik Tok. And like, I’ve had some Tik Tok stuff go sort of viral before, not a ton, because then I very quickly was like, I don’t want to do this anymore. But I just think it’s a hamster wheel. You know, it’s a lot different than what I see, at least as I understand it and how I’ve kind of

46:10
thought about it for a while. It’s like YouTube, you can create a piece of content and it’ll just generate views for a long time if it’s good. Google, I mean, like you can put a blog post up there and it was like generates revenue forever until an algorithm change or something. But like the TikTok stuff is so quick and they don’t make it easy to get off platform. Right. So it’s like, it’s, just, you get this like very surface level interaction with people, which isn’t a bad thing, but it’s, don’t think it’s like a good conversion mechanism. I do think it’s a good, like if you have a massive audience, you can sell sponsorships or sponsor deals.

46:40
Um, but that’s a tough way to make a living. In my opinion, I don’t like that. Doesn’t feel like a business that I want where I have to just like always be creating content. Um, and I’m trying to work with these brands and then do they have marketing budget? Do they not have budget? Um, and I hate going into those negotiations with brands anyway, like a corporation. And it’s like, you’re talking to some like middleman person that doesn’t even know what’s, don’t know. I that it’s, that’s been surprising to me, like as throughout my career and as I’ve learned more.

47:10
When you talk to some of these people at these companies that are managing these marketing budgets, a lot of them have no idea what they’re doing at all. Like they don’t understand marketing. Like they don’t understand the value of an audience. They’re just kind of like writing checks to people. So it’s just a, don’t know. just not, will, social media will be the last thing that we layer on to everything we do. Cause it’s top level awareness, you know, at the top of the marketing funnel is great. And if you can create a really good strategy to pull those people down into your funnel and eventually convert. But I think that

47:40
you needed you needed work on things that are closer to conversions, which would be like a high intent YouTube video or blog post or something like that, where it’s like the people that are that are watching your stuff are wanting to buy something that makes more sense to me. Cool. Actually, we have the same philosophies. Sweet. So Bobby, hey, thanks a lot. If people want to know about the programs that you sell or your website, YouTube channel, where can they find you? So social handles basically across everything mill money man, ml.

48:09
Money Man. We took out the millennial part because it’s too hard to spell. And then website, millennialmoneyman.com. You can also find me and my other business Laptop Empires. And please go and subscribe to our baby YouTube channel because we need as many subscribers as we can possibly get. And I think that’s it. Yeah. I’ll link those below. Is there a particular goal you’re going for this year with your YouTube channel? No, we were talking about that as a team. Like do we set like a subscriber goal?

48:38
I’m more like, let’s get a good clean process for creating content, like multiple pieces of content per week. And then we can read, like we’ll go back to the subscriber goal after we figure that out. Cause I think that’s more important than the number. It’s like, let’s get the process dialed in and make good content. Yeah. Power to you, man. Multiple YouTube videos a week is, it’s going to be tough. We’re going to do it though. So yeah. Well, thanks a lot for coming on the show, Bobby. Appreciate it, Yeah. Thanks for having me on.

49:08
Hope you enjoy that episode and I encourage you to go check out Bobby’s site over at millennialmoneyman.com. For more information about this episode, go to mywifecoderjob.com slash episode 513. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small and intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go to sellersummit.com. And if you are interested in starting your own e-commerce store,

49:37
Head on over to MyWifeCoderJob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

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512: My Predictions For Ecommerce In 2024 | The Good, The Bad And The Ugly

511: My Predictions For Ecommerce In 2024 And How You Should Prioritize Your Time

In this episode, I’m going to give you my predictions for ecommerce and small business entrepreneurship in 2024.

I’ll dive into what’s next, discuss everything from the shifting landscape of eCommerce jobs to artificial intelligence and what’s going on with China.

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Transcript

00:00
You’re listening to the My Wife Could Her Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. That’s the beginning of the year. And unlike other years in the past, I think we are in store for a hell of a lot of changes in 2024. So in this episode, I’m going to give you all of my small business predictions for this year. But before we begin, I want to let you know that tickets for the 2024 Seller Summit are now on sale over at sellersummit.com.

00:28
The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online. And unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based conference where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business, entrepreneurs who are importing large quantities of physical goods, and not some high-level guys who are overseeing their companies at 50,000 feet.

00:57
Now I personally hate large events, so the Seller Summit is always small and intimate. Every year, we cut off ticket sales at around 200 people, so tickets sell out fast, and we’ve sold out every single year for the past eight years. Now if you’re an e-commerce entrepreneur making over $250k or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The Seller Summit’s gonna be held in Fort Lauderdale, Florida from May 14th to May 16th, and right now, this is the cheapest the tickets will ever be.

01:27
Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 38 % off right now. My book will teach you how to achieve financial freedom by starting a business that does not require you to work yourself to death. Plus, you can still access my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube and podcasting when you grab the book over at mywifequitterjob.com slash book. So go to mywifequitterjob.com slash book.

01:56
Fill out the form and I’ll send you the bonuses right away. Now onto the show.

02:07
Welcome to the My Wife, Gooder Job podcast. In this episode, I’m gonna give you my predictions for e-commerce and small business entrepreneurship in 2024. With 2023 behind us, I’ll dive into what’s next, discuss everything from the shifting landscape of e-commerce jobs to artificial intelligence. Now, my first prediction for 2024 is that small ticket drop shipping is gonna die. Now, when I say that drop shipping is gonna die, I’m not saying that people aren’t gonna continue to try doing it.

02:35
but anyone who tries dropshipping $10 to $20 products from places like AliExpress or any of the other China-based dropshipping apps will simply not make enough money to make it worth the headache. Now here’s what most people don’t realize about dropshipping from China. One, the quality control is terrible, and a lot of times, your customers are going to be shipped poorly packaged junk that is broken on delivery. Lots of your orders are also going to get lost in the mail or take months to arrive. And as a dropshipping store,

03:04
you are the one responsible for customer service. Even though you aren’t carrying any inventory and your startup costs are super low, you will still be wasting a ton of your time dealing with customer complaints and refunding people’s money. Now these low profit margins simply aren’t worth your time unless you were just using dropshipping as an exploratory mission to figure out what sells. Now the only way to succeed in e-commerce in the long run is to sell a private label product. A product with a strong brand

03:34
that allows you to charge premium pricing. Otherwise, sites like Tmoo are just going to eat your lunch. Now, if you’ve never heard of Tmoo before, Tmoo is an online marketplace that ships cheap junk directly from Chinese factories at much lower prices than you can ever charge with a drop ship product. As a drop shipper, you’re just a middleman and buying direct from the factory will always be cheaper unless consumers have a reason to buy from you. So for example,

04:02
A t-shirt drop shipped from a US store will cost a customer between 20 to 25 bucks. But the exact same shirt from Tmoo only costs $7 and includes shipping. So basically no one’s going to pay 3X the cost for the exact same item. Which brings me to my next prediction. Tmoo is going to continue to grow like crazy and basically destroy unbranded commerce. At the time of this recording, Tmoo’s 2023 numbers aren’t out yet, but I can tell you

04:32
that in just one short year from November 2022 to April of 2023, they were able to attract about one third the traffic of Amazon and what’s the top downloaded app in the app store. So mark my words, that number is going to grow exponentially. Tmoo is throwing millions of dollars at influencers and gaining traction fast. In fact, Tmoo is already hurting Amazon big time. According to Amazon reps, the apparel side of Amazon is down 30 % year over year.

05:02
and sites like Timmu and Shien are eating their lunch. Now to further fuel the fire, Americans are facing a record amount of credit card debt. And according to LendingTree.com, Americans total credit card balance is 1.079 trillion as of Q3 of 2023, which is easily the highest since 1999. Now according to CNBC, more than 62 % of Americans are living paycheck to paycheck, and more than half the Americans that earn over 100K

05:30
are also living paycheck to paycheck. So as a result, American households had to make tough choices because their finances are stretched super thin by high prices for goods and services. So mark my words, because of these two factors, people are going to flock to Tmoo in 2024. And again, if you are selling unbranded or commodity products in 2024 or drop shipping other people’s products, you’re just going to get squeezed out. All right, let’s switch gears now and talk about selling an Amazon.

05:59
Amazon literally just announced their biggest price hike ever. And to make things worse, their pricing is super complicated to figure out. Now, probably publish a separate episode on whether it’s worth it to sell on Amazon FBA in 2024. But here is a synopsis. Starting in March of twenty twenty four, Amazon will now charge you a placement fee for every item shipped between twenty one cents to sixty eight cents for standard size products and two dollars and sixteen cents to six bucks for an oversized item.

06:29
This is a brand new fee on top of what they were already charging you. Not only that, but they are now charging you an extra fee if you do not have at least 28 days of inventory in stock. Now, remember, Amazon already charges you hefty fees if you have too much inventory in stock. But now you’re to get charged for having too little in stock as well, which I find ridiculous. Now, in order to use Amazon FBA and not incur extra fees, you have to walk this tightrope.

06:57
where you have to have just the right amount of inventory in their warehouse. If you have too much or too little, you’re going to get screwed. And trust me, I’ve been managing my own warehouse over at bumblebelyndons.com for 17 years now, and inventory forecasting is very challenging. So my prediction for Amazon in 2024 is that these new fee increases will weed out a lot of the casual Amazon sellers. To make money on Amazon in 2024 requires that you know what you are doing.

07:25
from both a marketing and a supply chain standpoint. Now I’ve been saying this since 2016. If you want to succeed in e-commerce, you must have your own website in addition to Amazon and work on building your own traffic and your own brand. Now the problem with Amazon is that it’s like a drug. Amazon has a ton of eyeballs and it’s fairly straightforward to generate sales on the platform if you know what you are doing. But figuring out exactly how much profit you are making at the end of the day,

07:53
And keeping track of all the Amazon fees is actually the hard part. When you log into the Amazon dashboard, Amazon purposely only shows you your revenue numbers front and center. But in order to find your fees, you have to dig through piles of reports that are hard to piece together. There’s refund fees, FBA fees, return fees, PPC fees. You have to really know what’s going on. So bottom line, these new fee increases for 2024 are huge and lots of existing Amazon sellers will go under. By the way,

08:23
If you’re a current Amazon seller, do yourself a favor and download the Sellerboard app, which will tell you your net profit. If you haven’t done this already, it is an eye-opener. Now, selling on Amazon gets more more expensive. My next prediction is that content will become crucial in making any type of business successful. The days of throwing up random products on Amazon and making good money are over. And as I alluded to earlier, you must build a brand. And the only way to build a brand is by creating content.

08:53
You must put yourself out there. And this is why I heavily invest in my blog, my podcast, my YouTube channel, social media and TikTok. Now the simplest way to build a brand is to just show your face as the owner on video. All you have to do is film short form videos of the day to day of your business. All you have to do is be transparent and the customers will come. Because when it comes to running any business, people tend to buy from who they like.

09:19
Now the clearest example of this is with my online store course over at profitableonlinestore.com. There are hundreds, if not thousands of people teaching e-commerce online, but people buy my class because they resonate with my story or my teaching style. With strong content and a brand, the price point matters much less, and once you have an audience, you can literally sell anything. And this is exactly how you beat Tmoo.

09:45
So basically if you want to succeed in 2024 with physical products, digital products, or basically any product, you must create content, whether it be with a blog, podcast, YouTube, or social media. All right, let’s switch gears again. My next prediction for 2024 has to do with hiring and outsourcing. I belong to several mastermind groups and regularly keep in touch with a number of online business owners. And almost all of them are now hiring their best employees

10:14
exclusively from outside the United States. Every single job from content writing, social media managers, virtual assistants, developers, everything can be easily outsourced to cheaper labor elsewhere. And even though outsourcing has been happening for quite some time now, the trend that I’m seeing in the past year is that more more skilled labor is being outsourced. Now, we’re not talking about just virtual assistants anymore, but we’re also talking about content creators, managers, engineering directors, developers, you name it.

10:44
And the equalizer here, especially in the content space, is AI. A couple years ago, I used to pay a premium for writers in the United States because native English speakers generally produce better content. But thanks to ChatGPT, I’ve shifted nearly all of my writing staff to overseas at a fraction of the price. And here’s what I found. The problem with most overseas writers in the past was that some of their sentences were grammatically incorrect or they just sounded awkward when read by a native English speaker. But now,

11:14
All you have to do is have them feed their content into ChatGPT and just have AI clean up the content. AI is a game changer in that it turns anyone into a fairly competent content creator. And the same is true for Amazon sellers. Chinese owned listings on Amazon are now nearly indistinguishable from US listings because of ChatGPT, which has drastically leveled the playing field. In the past, it was obvious to spot the Chinese sellers because their copy was really bad.

11:42
But now Chinese sellers can create high converting listings without having a strong grasp of the English language. Not only that, but as the factory, they also have the advantage of lower pricing. But what’s most disturbing about all the mass outsourcing is that I fear for the US economy. US labor is just too expensive and it doesn’t make much sense to pay more for lower level US employees when there’s someone in the Philippines or Bangladesh willing to do the exact same work for 3X less.

12:10
At some point, this dam is gonna break. I reckon number of Americans are already living paycheck to paycheck and it’s only gonna get worse. Will the government step in? I know that the minimum wage here in California just keeps going up and ironically, I think it’s only making things worse because why would I pay someone in the US $20 an hour when I can find someone just as good or better for just five bucks an hour? Which brings me to my final prediction. AI is gonna replace a lot of white collar jobs.

12:39
AI is moving so fast that it’s hard for me to predict exactly how it will affect society as a whole. But what I do know is that almost all my engineering buddies here in the Bay Area are working at AI startups. And not just software startups, but hardware as well. Right now, AI computations are mostly performed in the cloud, but powerful AI models will soon run on phones and laptops this year. Now, you’ve probably heard terms like the singularity or AGI being thrown around the AI space.

13:08
And I think we’re already pretty close. I used to pride myself on being a pretty decent developer, but you know what? My last coding project was pretty much 80 % coded by ChatGBT. And I had ChatGBT ask me questions on exactly what I wanted, and we kind of iterated back and forth. And you probably just noticed that I referred to ChatGBT as a person just now. My buddies in Silicon Valley are already scaling back hiring for junior engineers because ChatGBT is making existing engineers

13:37
so much more productive. As soon as AI can start developing and thinking on its own, the sky’s the limit. Well, we really need low-skilled labor anymore. Why hire a bunch of low-level engineers when you can simply hire a couple of super engineers and augment their work with AI? Which brings me to my final, final prediction. 2024 will see the most amount of spam and misinformation than any other year combined. Right now, Google has a content problem.

14:06
Webmasters are churning out a record amount of AI-generated content, and Google can’t tell the difference. In 2023 alone, Google released four core updates back-to-back to combat AI content, but I think it’s fighting a losing battle. Going forward, I believe that sites with the best on-site metrics will rank the highest in SEO, if SEO is even a thing towards the end of 2024. Meanwhile, on YouTube, tools like in-video.ai and Rizl

14:33
or allowing people to churn out millions of faceless AI-generated videos in a short period of time. Now, a lot of you guys listening to this are probably on YouTube. Take a look at your homepage right now on YouTube and let me know how much AI content you see. Right now, I’d say that my recommendations are 10 % 20 % AI-generated video. This is only going to get worse. Even on Amazon, people are using AI to publish hoards and hoards of e-books. And on that note,

15:00
I wouldn’t be surprised if AI influencers become more prevalent in 2024. According to ArsTechnica.com, fictional influencer Etana Lopez is followed by over 200,000 people and charges $1,000 a post to promote products on social media. Now, will humans even be able to tell the difference between AI influencers and human influencers in the future? Who knows? And unlike other years, 2024 is going to see a sea of change in small business entrepreneurship.

15:29
and you’ll either have to adapt or you’re just simply going to go out of business. Hope you enjoyed this episode and that it helps you prioritize your 2024. For more information about this episode, go to mywipecoderjob.com slash episode 512. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go to sellersummit.com.

15:58
And if you are interested in starting your own eCommerce store, head on over to MyWifeQuarterJob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

I Need Your Help

If you enjoyed listening to this podcast, then please support me with a review on Apple Podcasts. It's easy and takes 1 minute! Just click here to head to Apple Podcasts and leave an honest rating and review of the podcast. Every review helps!

Ready To Get Serious About Starting An Online Business?


If you are really considering starting your own online business, then you have to check out my free mini course on How To Create A Niche Online Store In 5 Easy Steps.

In this 6 day mini course, I reveal the steps that my wife and I took to earn 100 thousand dollars in the span of just a year. Best of all, it's absolutely free!

511: Why EVERYONE Is Ditching PayPal – Here’s The Ugly Truth!

Why EVERYONE Is Ditching PayPal -  Here's The Ugly Truth!

In this episode, I uncover the truth about PayPal, all the fees, the hidden charges, and how you can save money with your credit card processing with your online store.

In the event that your PayPal account is currently limited or banned, I will teach you how to get your money back and how to prevent your account from getting limited.

What You’ll Learn

  • How much Paypal really costs
  • Why Paypal limits accounts
  • How to pay less for credit card processing

Sponsors

SellersSummit.com – The Sellers Summit is the ecommerce conference that I’ve run for the past 8 years. It’s small and intimate and you’ll learn a ton! Click Here To Grab Your Ticket.

The Family First Entrepreneur – Purchase my Wall Street Journal Bestselling book and receive $690 in free bonuses! Click here to redeem the bonuses

Transcript

00:00
You’re listening to the My Wife, Quit or Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. Now it’s the end of the year, so I thought that I’d fill you in on a year-end payment processing audit that I performed for my online store. And it turns out that I’ve been leaving a ton of money on the table that I was not aware of. In this episode, we’ll tell you exactly what I discovered. But before we begin,

00:25
I want to let you know that tickets for the 2024 Seller Summit are now on sale over at SellersSummit.com. The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online. And unlike other events that focus on inspirational stories and high-level BS, is a curriculum-based conference where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business, entrepreneurs who are importing large quantities of physical goods,

00:54
and not some high level guys who are overseeing their companies at 50,000 feet. Now I personally hate large events, so the Seller Summit is always small and intimate. Every year we cut off ticket sales at around 200 people, so tickets sell out fast, and we’ve sold out every single year for the past eight years. Now if you’re an e-commerce entrepreneur making over 250k or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The Seller Summit’s going to be held in Fort Lauderdale, Florida from May 14th May 16th

01:24
And right now, this is the cheapest the tickets will ever be. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 38 % off right now. My book will teach you how to achieve financial freedom by starting a business that doesn’t require you to work yourself to death. And plus, you can still access my free bonus workshop on how to sell print on demand and how to make passive income with blogging, YouTube and podcasting when you grab the book over at mywifequitterjob.com slash book.

01:54
So go over to mywifequitterjob.com slash book, fill out the form and I’ll send you the bonuses right away. Now onto the show.

02:07
Welcome to the My Wife Could Her Job podcast. Now for the past few months, I’ve been doing a complete audit of every single expense for my e-commerce store. And during this audit, I discovered something unexpected about PayPal that I was not aware of, and I’m willing to bet money that you didn’t know about either. So in this episode, I’m going to uncover the truth about PayPal, all the fees, the hidden charges, and how you can save money with your credit card processing with your online store. And in the event that your PayPal account is currently limited or banned,

02:35
I’ll also teach you how to get your money back and how to prevent your account from getting limited as well. So I’m a little embarrassed to say this, but I’ve been getting ripped off with payment processing for at least the past five years, maybe even longer than that. And analyzing my PayPal bill carefully is what sparked this episode. And all this took me by surprise. For over a decade, I had a negotiated rate with PayPal where I was charged 2.2 % plus 30 cents per transaction.

03:04
which is actually a pretty decent credit card processing rate. But I got careless over the years and I stopped looking at my PayPal statements because I just assumed that they had stayed the same. In fact, I don’t even remember PayPal ever sending me any correspondence that they had increased their rates and I had assumed that my lower rates were grandfathered in. But I couldn’t have been more wrong. Here are some important facts about PayPal’s fees that you should know right off the bat if you sell anything online.

03:32
and if you accept PayPal in any sort of volume. And I’m pretty sure that these numbers are going to shock you. So first off, for credit cards, the rate is 2.9 % plus 30 cents per transaction for credit cards. And most of you guys probably all knew this already, because that’s like the standard credit card rate in general. But here’s probably what you didn’t know. You are charged a 3.49 % rate for all PayPal checkout transactions that do not involve credit cards.

04:02
So basically you’re paying 0.5 % more if someone pays by PayPal on your site. And in theory, paying by PayPal costs PayPal no money at all, and it literally should be the cheapest way to accept payments online, and one time it was free. But not anymore. Accepting PayPal payments directly is easily the most expensive way to accept payments online now. Now to illustrate the magnitude of this rate, let’s throw some actual numbers into the mix. Let’s say you process $1 million per year,

04:31
and 50 % of your transactions are from PayPal. You’d be paying 500K times 2.9 % plus 500K times 3.49%, which equals $31,950 bucks per year on payment processing. And at that sales volume, you can easily get a 2.2 % or lower with practically any other payment processor. And with a 2.2 % rate, you would only be paying $22,000. So basically, you’d save 10K per year

05:00
by going with a different payment processor. Now what makes things even worse is that PayPal stopped refunding fees for returns in 2019. So let’s say you sell really expensive products and you make a sale for $1,000. Well, the PayPal fees on that sale are 2.9 % plus 30 cents or $29.30. Now if the customer returns that product at any time, you still have to eat that $29.30 no matter what.

05:28
Now you’ve done any searches on Google for PayPal, you probably noticed that PayPal has a history of limiting accounts or freezing funds. And PayPal is what I would call a low-risk payment processor, and they have a strict set of guidelines on who they serve. For example, if you sell any products with chemicals, CBD, controlled substances, you’re going to get banned, eventually. Now most of the complaints that I’ve come across online indicate that PayPal will sometimes hold your funds for up to six months,

05:57
and six months can be a long time if you need access to your money. And once they freeze your funds, it doesn’t make sense to continue accepting money through PayPal if you can’t access it. In other words, once your account is frozen, you are pretty much screwed. Now, I personally never had my PayPal account frozen before, so I’m not speaking from experience here, but I do have a few fellow blogging friends selling digital products who have had their accounts locked for no reason at all, so I asked them for their side of the story.

06:25
Now in both cases with my blogging friends, they had their accounts frozen after a big product launch. And for one of them, PayPal limited their account by only allowing them to process $10,000 per day. Now the other blogger had over 40K in funds frozen for 180 days. Now it seems as though PayPal doesn’t like seeing huge spikes in money being received into your account. Now since I was worried about potentially getting my funds limited, I actually called my account manager at PayPal and here’s what I was told.

06:54
First off, he reassured me that it’s extremely rare that they ever place holds on user accounts and that the reasons for limiting an account vary greatly from user to user and largely depends on the situation. But under certain circumstances, PayPal has certain triggers in place as a safeguard against fraud. And here’s some of the reasons why some of these safeguards might be triggered. You received an abnormally large amount of money in your account that is way above your average. Someone has filed a complaint to PayPal about your business.

07:22
A series of chargebacks have been placed against your account. Your website is questionable content, you are in violation of PayPal’s use policy, for example if you sell drugs or anything illegal, you’re probably going to get banned. Your account information is not up to date, or your account is not fully verified. Someone has logged into your PayPal account from a strange location, or your credit score is low, or something with your background history makes you a higher risk customer, or finally if they’ve detected fraudulent activity on your account in the past.

07:52
Now if you are worried about PayPal ever limiting or banning your account, here are some precautions that you can take. If you are expecting to receive a large sum of money, then you should call PayPal ahead of time so they expect to see the extra funds. In other words, if you are planning a large product launch, make sure you let them know ahead of time. Sometimes when you sign up, there is a survey that you have to take. Make sure you check off higher numbers in terms of how much money you anticipate making every month.

08:20
Contact PayPal to make sure that your account is not limited in any way in terms of how much money you can accept per day. Because sometimes limits are placed depending on various factors relating to your credit history or background checks. Make sure your name or the name of your business is on your PayPal account and that it exactly matches your bank account and credit cards. Use the exact same address and phone numbers that match your bank account and credit cards and always use trackable methods of shipping if you ship physical goods in case a dispute is filed against you.

08:50
And finally, just make sure that your FINE or Social Security number exactly matches the name of your business on your account. Now, if you don’t want to take the risk of your account getting frozen and you want the lowest credit card processing rates possible, well, what can you do? Well, in general, you should never ever accept credit card payments with PayPal ever because it will by far be the most expensive way to accept payments online. If you process any sort of volume with your e-commerce business, you should get a traditional payment gateway

09:19
and ask for interchange plus pricing. Interchange plus pricing is when you pay a fixed percentage over the interchange rate, which is the wholesale rate that all credit card companies have to pay in order to process payments. Each time a business processes a credit card, it pays a fee to the bank that issued the customer’s card, and this is called the interchange fee. And it’s calculated by adding a percentage of the transaction volume to a flat transaction fee. For example, 1.51 %

09:48
plus a 10 % transaction fee is the current interchange fee for a swiped Visa consumer credit card. Now if a business accepts this type of card as payment for a $100 transaction, it will owe the bank that issued the card an interchange fee of $1.61. Now interchange rates are determined on a per transaction basis using the details of the transaction. And things like credit card type, credit or debit, card category, whether it’s a reward, commercial or

10:17
other sort of credit card, and processing method, whether it’s swiped or keyed, dictates the interchange rate associated with the transaction, and ultimately how much money the business will have to pay the issuing bank. Now these issuing banks don’t set the interchange rates independently, and instead they collectively agree upon the rates through VZen MasterCard. And this is why all issuing banks charge the same interchange rates and processors have no influence on them.

10:45
Interchange rates are a non-negotiable component of credit card processing that remains exactly the same regardless of which processor a business uses. As I mentioned earlier, the current interchange rates for Visa at the time of this episode is about 1.51 % for a regular Visa card and 2.3 % plus 10 cents for a Visa Reward Signature card. I know I’ve said a lot, but why is this important? It’s because when you negotiate interchange plus pricing,

11:14
you’ll get quoted a fixed percentage above interchange and you know that you’re not going to get ripped off because the interchange rate is fixed. For example, if you get quoted an interchange plus 0.1%, that means you are paying a rate of 0.1 % above the wholesale rate. Now the exact rate that you pay depends on the type of credit card, so you should probably look over your current bill right now and make a rough calculation of how much you can save by moving to Interchange Plus. Also, your ability to negotiate

11:43
depends on how much money you process every year, but I would say if you do more than 10k a month, you should always negotiate and move away from PayPal no matter what. After all, there are many credit card providers that offer extremely low rates that are way better than PayPal. Now what makes the decision difficult is if you accept a lot of PayPal payments on your online store. And over the years, if you watch any of my tutorials, I’ve actually recommended that all sellers accept PayPal on their site for two main reasons. One,

12:13
PayPal allows you to import the customer’s information when they log in. And this reduces the amount of typing for customers, which is especially important for mobile transactions. People having to enter their addresses on their smartphones is one of the number one conversion killers in e-commerce. And two, PayPal is ubiquitous and certain shoppers always pay by PayPal no matter what and won’t buy if they have to dig up their credit cards from their wallet. Now, in the event that you do process a lot of PayPal payments on your site,

12:42
You might want to consider using Braintree, which is actually a company owned by PayPal. They’ll provide you with a competitive rate and reduce your PayPal processing rate as well. Now, if most of your customers do not pay by PayPal, then I would explore and negotiate with all other processors like Authorized.net and Elevon. In fact, I recommend going to a site called Cardfellow.com, which will help you find the cheapest payment processor. Now more of the story here.

13:09
is that if you haven’t checked out how much you are paying for payment processing in a while, then do it right now because otherwise you’re just flushing money down the drain. Now just for fun, I checked the effective credit card processing rate for my credit card processor, which is Braintree over the holidays, and my effective credit card processing rate was only 1.7%. This is 1.7 % compared to the 2.99 % that I was paying just a couple months ago. So make sure you audit your credit card processing right away.

13:40
Hope you enjoyed that episode and that it’s a kick in the pants to check how much you are paying for credit card processing. more information about this episode, go to mywifequitterjob.com slash episode 511. And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go to sellersummit.com. And if you are interested in starting your own e-commerce store,

14:09
Head on over to MyWifeQuarterJob.com and sign up for my free six day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

I Need Your Help

If you enjoyed listening to this podcast, then please support me with a review on Apple Podcasts. It's easy and takes 1 minute! Just click here to head to Apple Podcasts and leave an honest rating and review of the podcast. Every review helps!

Ready To Get Serious About Starting An Online Business?


If you are really considering starting your own online business, then you have to check out my free mini course on How To Create A Niche Online Store In 5 Easy Steps.

In this 6 day mini course, I reveal the steps that my wife and I took to earn 100 thousand dollars in the span of just a year. Best of all, it's absolutely free!

510: Starting An Online Store? Follow These 5 Rules To Find The Right Platform

510: Starting An Online Store? Follow These 5 Rules To Find The Right Platform

In this episode, I answer the top question that I always get asked.  Which ecommerce platform should you use for your online store?

Unfortunately, the answer isn’t black and white. So in this episode, I’ll help you figure it all out.

What You’ll Learn

  • Your ecommerce platform options
  • How to choose the right problem
  • Five essential rules when starting an online store

Other Resources And Books

Sponsors

SellersSummit.com – The Sellers Summit is the ecommerce conference that I’ve run for the past 8 years. It’s small and intimate and you’ll learn a ton! Click Here To Grab Your Ticket.

The Family First Entrepreneur – Purchase my Wall Street Journal Bestselling book and receive $690 in free bonuses! Click here to redeem the bonuses

Transcript

00:00
You’re listening to the My Wife, Quarter, Job podcast, the place where I bring on successful bootstrap business owners and delve deeply into what strategies are working and what strategies are not with their businesses. today I’m doing a solo episode to answer once and for all, probably the top question that I get asked, which e-commerce platform should I use for my online store? And the answer isn’t black and white. So in this episode, I’m going to ask you a series of questions to help you figure it all out. But before we begin, I wanted to let you know that tickets for the 2024 Seller Summit,

00:28
are now on sale over at SellersSummit.com. The Seller Summit is the conference that I hold every year that specifically targets e-commerce entrepreneurs selling physical products online. And unlike other events that focus on inspirational stories and high-level BS, mine is a curriculum-based conference where you will leave with practical and actionable strategies specifically for an e-commerce business. Every speaker I invite is deep in the trenches of their business, entrepreneurs who are importing large quantities of physical goods,

00:55
and not some high level guys who are overseeing their companies at 50,000 feet. Now I personally hate large events, so the Seller Summit is always small and intimate. Every year we cut out ticket sales at around 200 people, so tickets sell out fast and we’ve sold out every single year for the past eight years. Now if you’re an e-commerce entrepreneur making over 250k or $1 million per year, we also offer an exclusive mastermind experience with other top sellers. The Seller Summit is going to be held in Fort Lauderdale, Florida from May 14th May 16th

01:25
And right now, this is the cheapest the tickets will ever be. Also, if you haven’t picked up my Wall Street Journal bestselling book, The Family First Entrepreneur yet, it’s actually available on Amazon at 38 % off. My book will teach you how to achieve financial freedom by starting a business that does not require you to work yourself to death. Plus, you can still grab my free bonus workshop on how to sell on print on demand and how to make passive income with blogging, YouTube and podcasting when you grab the book over at mywifequitterjob.com slash book.

01:54
So go over to mywifequitterjob.com slash book, fill out the form and you’ll get the bonuses right away. Now onto the show.

02:07
Welcome to the MyWifeCoderJob podcast. Now, if you’re an entrepreneur thinking about starting your own online store or e-commerce business, one of the most crucial decisions you’ll have to make is choosing the right e-commerce platform. And it’s a decision that can significantly impact the success of your business. But with so many options out there, it can be incredibly overwhelming to choose the right one. But I’ve got your back because today I’m going to share with you the five essential rules that you need to consider when choosing the right e-commerce platform that matches your personality and your budget.

02:37
And these rules are tried and tested and have helped me and many of the students in my class to build successful online stores. So grab a notepad and let’s dive right in. As I mentioned earlier, the number one question I get asked nearly every day is which shopping cart to go with. And I just want to start this episode by sharing my own personal story on why this decision matters and why it’s important that you listen to the five rules that I’m about to teach you. I started my online store back in 2007 before Shopify existed, before Big Commerce, before Shift for Shop.

03:07
before WooCommerce and even before Amazon. As a result, I went with one of the only solutions that was available back in the day called OS Commerce. Now there were other options, but I chose OS Commerce because it was the best open-source shopping cart back in the day and best of all, it was free to use. OS Commerce ran great for me for a very long time, costing me only $7 a month and made me millions of dollars until one day, the main developers behind the project decided to stop developing for it.

03:36
And all of a sudden, I was left with a platform that was dead in the water with no more improvements ever again. But by then, I had invested so much time and wrote so much custom code for my online store that I had to choose whether to migrate my store to a cart like Shopify or BigCommerce or stick with my obsolete cart and maintain it myself. Now, ultimately, I made the tough decision to maintain my online store myself because the pain of migrating was just too great.

04:02
and it would be impossible to move over all the functionality that I had custom coded over the years. So guess what I had to do the other month? I literally spent 16 hours upgrading my online store to the latest and greatest software versions by myself. Now the one saving grace is that I only had to do this once every five years, and I’ve saved a ton of money over the years because my cart is 100 % free. But my point is, is that most of you listening to this episode probably do not have the technical chops to maintain the code for your website,

04:31
in case a company decides to go belly up. So for all of you listening, choosing the right e-commerce platform is extremely important because it is a major pain in the butt to switch. And with that, let’s start with rule number one. You should only use a shopping cart that is maintained by a well-known and well-supported company with a huge war chest of cash. In other words, if you’re thinking about using some unknown podunk e-commerce platform from some startup company, do not do it. Every now and then, a subscriber will email me

05:00
whether they should consider using some random free shopping cart that I’ve never heard of. And when I visit the website or company, it’s basically run by a two-person team running it as a side business. Do not do this. If you go with a well-known company, preferably a public company, then you can rest assured that your platform is going to be pretty safe. Even if the public company were to go bankrupt, someone would probably buy them and continue to support your store, giving you time to migrate to a different option. Now, the only exception to this rule

05:29
is if you go with the popular open source e-commerce platform with tons of developer support. For example, Linux is open source and it’s maintained by thousands of developers all over the world. If you obey this rule, it already narrows down your pool of choices to Shopify, BigCommerce, Shift4Shop, Square, Wix, Equid, Squarespace, WooCommerce, and Magento. Now, it’s still a large list, but at least you know the company will be around next year. Rule number two is that the shopping cart must have excellent third-party developer support.

05:58
Now I’m going to make the assumption here that most of you listening are not tech savvy and do not have the knowledge or the drive to create your own plugins or design your own website themes. Now you want to have an e-commerce platform that stands the test of time and evolves as the e-commerce landscape changes, that means that you’ll likely have to add new features to your online store at some point in your business’s lifetime. For example, in the not too distant future, it’ll probably be the norm to have an AI assistant help customers shop online.

06:27
And right now, your online store platform probably does not have this feature, so you’ll likely need to buy a plugin to implement it. But here’s the thing, developers only develop for the most popular platforms. If you look at the overall market share of shopping carts in the US, you’ll see that Shopify is number one, followed by WooCommerce, Wix, Squarespace, and Equid. But we all know that many of these shops don’t make any money at all, so let’s focus on the top online stores. If we look at the top one million websites in the world by web traffic,

06:57
it paints a completely different picture. The top websites in the world are on WooCommerce and Shopify, with Magento and BigCommerce on the radar screen as well. Now because Shopify and WooCommerce are by far the most popular shopping carts in the world, they command the most developer support. And as a result, any new e-commerce functionality will be created for these platforms first. So once again, if you want to future-proof your business, you’ll want to go with a well-supported shopping cart.

07:24
And this pretty much eliminates a lot of the bigger players who don’t have a large market share in the e-commerce space. People always ask me about Wix, Square, Squarespace, GoDaddy, Big Cartel. And my answer is that no developers are making any new software for these platforms. So even if they are backed by large companies, there really is no support except for the company itself. The most well-supported cards are Shopify, WooCommerce, BigCommerce, and Magento. Rule number three is that the e-commerce platform should be easy to maintain.

07:54
Now reason I have this rule in place is because most of you listening probably just want your online store software to just work and not have to worry about your website crashing or having to upgrade anything by yourself. Now if you want to follow this rule, you should probably rule out WooCommerce. Even though WooCommerce is 100 % free, you still have to have a server to run your website. And WooCommerce is based on open source software, which means that you own the source code for your website and you have full control over it. However, you still have to maintain the server that it runs on.

08:24
And this basically means that you have to upgrade all your own plugins and software, and you have to lock down your server in case anyone ever tries to hack you. Now, fortunately, WooCommerce and WordPress have a fairly robust push button upgrade mechanism, but bad things do happen from time to time. For example, a couple of weeks ago, I upgraded my WordPress blog for Bumblebee linens to the latest and greatest version, and a bunch of my plugins broke, and I had to manually debug what was wrong. Now, the primary benefit of going with a popular cart like WooCommerce

08:53
is that you can easily find help online on the forums, Reddit, Stack Overflow, et cetera. But ultimately, it is up to you to find your own solutions and fix the problems yourself. The other benefit of owning the source code is that you can easily create custom functionality for your website that goes way beyond what any plugin can do. For example, I sell personalized products in my shop. If I wanted to create a feature that allows customers to see a mock-up of the finished product before personalization, there’s no really any plugin that does that.

09:22
You’d have to write it yourself and WooCommerce allows you that flexibility. Anyway, if you have no desire to maintain your own software or server, that pretty much limits your choices at this point to BigCommerce or Shopify. Rule number four is that your e-commerce platform has to be reasonably priced and not cost you a large percentage of your revenue. Now, so far, I haven’t really said anything negative about Shopify, but one of the biggest negatives of Shopify is the price. Now, you might be thinking to yourself, $30 a month doesn’t sound that bad.

09:52
but that price is deceptive. Shopify was designed to have minimal functionality out of the box and they force you to pay for plugins to add features to your shopping cart. The average Shopify store uses seven plugins that charge recurring revenue. The typical Shopify user in my Create a Profitable Online Store course spends around $200 a month on Shopify. Meanwhile, other solutions like BigCommerce, Shift4Shop, and WooCommerce are way cheaper.

10:18
Bigcommerce has most of the functionality that you need out of the box so you don’t get nickel and dimed on apps. Shift for Shop is on this list because the shopping cart is as powerful as Bigcommerce and Shopify, and it’s 100 % free if you process at least $500 in orders every month. And WooCommerce is 100 % free to use, and WordPress has a library of thousands of free plugins to use for it. So if price is one of your primary concerns, then go with WooCommerce, Shift for Shop, or Bigcommerce because they will be cheaper.

10:47
And then finally we have rule number five, which is to choose an e-commerce platform with a good blogging platform that is optimized for search. Now this last rule is only important if ranking and search is an important criteria, and unfortunately, Shopify does not offer a very good blogging platform. Not only is Shopify’s blogging platform limited, but they have a suboptimal URL structure that is less conducive to ranking and search. Now of the choices that I’ve presented so far,

11:14
WooCommerce easily has the best blogging platform because it’s based on WordPress. And BigCommerce offers a cool plugin that integrates with WordPress so you can seamlessly run your blog on WordPress and your store on BigCommerce under the exact same subdomain. So basically, if blogging is important to you, then WooCommerce or BigCommerce are better solutions than Shopify. Now this point, I’ve probably fried your brain with a number of options, so let’s put everything together in a concise manner. If you have the budget,

11:42
and you don’t really care about costs, then Shopify is probably going to be your best option. Even though Shopify will nickel and dime you with apps and payment processing, it’s the best choice not necessarily because the platform itself is better, but because it is the best third-party developer ecosystem. Go with e-commerce if you want an overall solid shopping cart and great out-of-the-box functionality without getting nickel and dime with apps. If you want a strict budget, then go with WooCommerce or Shift for Shop.

12:10
WooCommerce offers you the most flexibility out of all the shopping carts listed because you have control over the source code. But you have to be tech savvy to maintain it. And finally, Shift4Shop is a great all-around shopping cart that is free when you make over $500 a month, which is a really low bar. So overall, I hope you enjoyed this episode and it should help you figure out which platform is best for you. And for more information about this episode and links to all the choices that I talked about on this episode, go to mywifequitteredop.com slash episode 510.

12:40
And once again, tickets to the Seller Summit 2024 are now on sale over at sellersummit.com. If you ever want to hang out in person in a small intimate setting, develop real relationships with like-minded entrepreneurs and learn a ton, then come to my event. Go to sellersummit.com. And if you are interested in starting your own e-commerce store, head on over to mywifequitterjob.com and sign up for my free six-day mini course. Just type in your email and I’ll send you the course right away. Thanks for listening.

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