it's great if you could learn from your
own mistakes the idea is you don't want
to make the same mistake again and
hopefully you'll get better over time
now if you can learn from other people's
mistakes that's even better over the
past couple weeks I've been able to chat
with some side hustlers nick lowe /
Shayne Myers and Dave young and I asked
each one of those guys about mistakes
that they've made as they started their
side hustle as they grew their side
hustle into a full-time gig by the way
I'm Doug Pennington I talked about
productivity so if you're new to the
channel have a look around watch some of
the other videos and if you like what
you see please consider subscribing so
let's hear from the guys now so with
that business I'm just curious like with
that business did you get a lot of
traffic from like SEO or was it coming
from ads or somewhere it was primarily
driven through Adwords and Bing and
which used to be even like yahoo and
overture like back in the day as a was
heavily reliant on paid traffic where
one of the probably of the failure
points was that I've failed to reinvest
that profit from the from the
pay-per-click stuff into SEO and so
never really got a lot of organic love
and maybe that would've given the
business a little more staying power how
long was it around then um from 2004 and
it's very earliest stages to 2014 when
the kind of shut it shut it down and and
focused on the side hustle nation stuff
as a as the primary focus you have been
doing this a while I expect that you
probably made a few mistakes I know I've
made tons of mistakes I still make them
they're just much bigger now so do you
ever need to share maybe you could help
folks avoid some mistakes if they're
getting started absolutely so when you
first get started and reselling one of
the biggest mistakes that resellers make
is comparing themselves to someone
else's business I mean I can I can show
you you know pull my eBay account and
show you that I've had several weeks
where I've done a thousand dollars in
sales in one week but you can't compare
yourself to that when you're first start
now a lot of resellers like to do that
when they first start out I want those
numbers but realistically you're just
gonna be chasing someone else's business
you got to make it work for you I think
that probably translates to like most
any business model because we
hard like you do want to compare
yourself to someone who's been doing it
for 13 years you know
yeah pretty hard to jump in on day 2 and
right do that so and what helps me out a
lot in the aspect of retail arbitrage
like going into retail stores is I did
retail management for nine years and
also held a corporate level jobs in
retail man so really for me like retail
arbitrage I know how stores ticket their
clearance I know a lot of information
that no one else would know for that so
that really gives me kind of a leg up a
little bit you did mention the nice
scooter thing but do you have any other
mistakes that you could share maybe from
one of the launches I know launches can
really be hard to work with a lot of
moving pieces a lot of failure points we
haven't done a ton of launches because
right now my course is evergreen and now
actually the future courses were kind of
taking more of an evergreen approach or
launching it so the first time we
launched it we didn't do it was almost
more of like a beta even though we
didn't say it was a beta we opened it
for three days and closed it and we
wanted to get some feedback the feedback
we got was you know we needed to tweak
the structure of the course a little bit
you kind of got like lukewarm feedback
on it which was it kind of stinks Sepher
if you like both if we failed but you
know hey you gotta like figure it out
and redo it and come back and I know CEO
guy was working with on that course so
part of my strategy is partnering with
other experts in the drone industry and
then kind of creating the curriculum and
us producing and distributing the
content there's a profit share there so
yes I wouldn't say it's like that was a
big failure but that was something you
know we're like learning to work through
and you know the guy who created it is a
good friend of mine Alex he's great at
what he does but you know like us
working together figure out how to
launch you know the perfect course so we
came out with another course later on on
drone photography and that was much more
well-received because we'd already
gotten the feedback from the first
course I did a few more things
differently on my end so I've read
through oh my goodness why my Jeff
Walker's product launch formula stuff
tried out some of those techniques and
that's seem to work a lot better but and
we had some more better results with
that you know people enjoy the course a
lot more kind of better numbers but I
think the failures if you oh not so much
around launching but when I first
started I didn't really know what I was
doing
when I guess you'd said launched you
know what actually let me rewind I do
have a good failure story for you when I
first started my business period and I
had worked for months and months and
months on putting this course together
like I said I was at Starbucks till 2
o'clock in the morning I was taking days
off of work to go film at this guy's
house to get it all together I probably
spent you know twenty thousand dollars
on editing and animations and equipment
and print software and all this stuff
and just like I'm in my basement with a
drop cloth behind me like and I bought
some lights I'm like filming these
videos my basement mean you can't tell
us my basement when you're watching it
but basement of my townhouse in Virginia
so I'm like I have my whole like heart
and soul invested in this right and one
of my competitors had launched a similar
course I know him he's a good guy and
he's got good products I'm not surprised
but he had been building up a list for
the previous two years he had a blog so
he had 50,000 people on his list he
launched and he was selling his course
for $300 and he within maybe a month or
a few months had over a thousand people
that had taken his course and I'm like
that's like you know that's three
million doc oh my gosh I'm gonna be a
millionaire you know I just immediately
like imparted his success I'm here like
this is gonna be great so I had these
huge my head just like got huge and and
I thought I'm gonna launch to a list and
I'm gonna be a millionaire which was a
horrible thing and so I said I gotta get
a list so I went out and I bought and
brand new whatever the newest drone was
was like a phantom 4 or phantom yeah
phantom 4 by DJI I bought it I did a
drone giveaway I did the whole if you
share this you get an extra entry thing
so it kind of the viral share even
though I've learned that those are not
your best customers a lot of times they
just want free stuff so I got to email
us to cobble together about 4,000 people
from that drone giveaway and I thought
I'm gonna launch this and I'm gonna it's
gonna explode right so when I was about
to launch I knew nothing about internet
marketing email lists and you know how
to work an email list how to do any of
that build a relationship I thought well
if I email them people are gonna start
subscribing so I want to hit him with a
sale right away you know I mean and and
the guy I was working with saying I
don't know I would maybe shoot out a
couple emails to like let them get to
know you
I'm like no forget that you know you
just got to go right for the jugular
and so I the first
email I'm like basically hey I'm David
we put this course together by this
course and the full price was like three
hundred dollars just matching the other
guy by the limited time discount we'll
give it to you for a hundred bucks
maybe I listed for 250 I don't remember
well I launched and I like sat back and
okay all right here we go
you know and I won sale trickled in and
then maybe a couple hours later another
sale trickled in and I watched another
email out and literally that was it I
made two sales at $99 so I invested and
I spent $1,400 of drone a drone and all
this time and money and my revenue so
far was $200 to show for it and oh my
gosh I was like really depressed I was
really pumped out and I recorded videos
from that time to you because I was like
I'm just gonna document how terrible
this is so I've watched a couple of this
since then to remind myself and it was
like well they didn't go like I planned
so back to the drawing board and yeah I
know it was tough it was it tough like a
couple weeks I was just like pretty down
about that so maybe had to figure out a
belt that is rough and that I could I
know you've gone through Meade's launch
course I haven't gone through that one
but I'm you made so many cardinal
mistakes there he'd smack you in the
back of the head I know right I know it
was terrible I'm looking back now like
the things I mean and I'm not like some
super Pro now but just the things I know
and I've learned I'm just like uh I was
just such it's such an idiot like I just
didn't know what I was doing you know
but hey that's how you learned right you
know yeah for sure and I think it's
important to point out like you're doing
really well now but like look at all the
like different ventures and ups and
downs that you had it's always a
rollercoaster I think a lot of people
missed that they just see the highlight
reel from people so right no yeah it was
eight years of different side hustle
ideas maybe six yeah six she was a side
hustle ideas before one landed you know
and I remember even at one point I had I
probably thirty thousand dollars off of
that first little the Squarespace thing
and then I remember I watched the video
back the other day I was watching some
of the stuff from before and I was like
well I just spent the last you know five
hundred dollars in my account to like
hire like somebody to help me with this
like let's hope this goes well so I was
literally down to like nothing I mean I
still have my full-time job so I wasn't
like you know total panic I still had
money coming in but I mean as far as
like my savings I had just
I drained it all and it was like and
then if it had flopped then I was just
like I don't know but at that point I
thought maybe this is another you know
nice scooter the scooter thing and it's
just and after you've invested months of
work it's just such a horrible feeling
thanks for checking out the highlights
from the interviews so if you want to
watch the full interviews with Nick
Shane and Dave be sure to check out the
links below thanks a lot to those guys
and we'll catch you on the next one
thanks
you
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