Podcast Summary
Underutilized traffic channels: Approaching businesses successful on one platform but not another and offering to manage new platform can lead to significant growth and revenue
Identifying untapped opportunities in businesses by offering custom solutions for underutilized traffic channels can lead to significant growth. Sabri Subi, an Australian marketing expert, suggests approaching businesses that are successful on one platform but not on another, and offering to manage and prove the potential of that new platform, taking a percentage of the sales as compensation. This approach, also known as a "Godfather offer," can be effective in e-commerce, where stores on one platform (like Shopify) but not on another (like Amazon) can be targeted. By focusing on a specific group of businesses and offering them a valuable solution, entrepreneurs can differentiate themselves and potentially secure significant revenue.
Identifying profitable side hustles: Identifying opportunities with low competition and high revenue potential, such as becoming an affiliate for SaaS companies or offering live chat services to small businesses, can lead to profitable side hustles with minimal upfront investment.
Identifying opportunities with low competition and high potential for revenue can lead to profitable side hustles. This was discussed in relation to becoming an affiliate for SaaS companies, which offer high commissions for bringing in new customers. Another idea presented was offering live chat services to small businesses, particularly those with Google My Business listings, to increase sales and improve customer engagement outside of regular business hours. These opportunities require minimal upfront investment and can generate significant returns, making them worth considering for those looking to start a side hustle.
Social Commerce on TikTok Shop: Start small in social commerce on TikTok Shop, focusing on income replacement and acquiring valuable skills. Learn from successful businesses and use tools like 11 labs and AI-generated content to maximize potential earnings.
Starting a business, especially as a side hustle, should focus on replacing income first, and acquiring valuable skills that can be used for future growth. The current market trend for this is in social commerce, specifically on platforms like TikTok Shop, where no initial investment or face-to-face interaction is required. By studying successful businesses and their strategies, one can learn and replicate their methods using tools like 11 labs and AI-generated content. For example, the Shilajit Resin business on TikTok Shop sold over $9 million in 90 days, demonstrating the potential for significant earnings. This opportunity is ideal for those wanting to get started in business with minimal resources.
Effective storytelling on TikTok: Effective storytelling and expanding across trusted sales platforms like Amazon can lead to significant sales and growth for businesses on TikTok. Skills like copywriting, consumer psychology, video editing, and social media strategy are valuable and applicable to any marketing industry. Persistence and overcoming self-doubt are essential for success.
The success stories of businesses like Guru Nanda on TikTok can be attributed to effective story-based copy and leveraging multiple sales platforms. These entrepreneurs, likely young and unknown, have tapped into the power of ancient practices and used social media to create buzz. Their focus on storytelling and expansion across trusted platforms like Amazon has led to significant sales and growth. For individuals looking to enter the marketing world, this approach presents an opportunity to learn valuable skills like copywriting, consumer psychology, video editing, and social media strategy. By starting as an affiliate or taking on a retainer, one can gain experience and even offer services to businesses looking to expand their reach on TikTok and beyond. The skills acquired are not only applicable to this niche but are essential for marketers in any industry, making this a potentially lucrative and long-term investment. Another key takeaway is the importance of persistence and overcoming self-doubt. The phrase "kill the little bitch inside" refers to the inner voice that tries to hold us back from taking on challenges. By acknowledging and silencing this voice, we can push through and achieve our goals, even when faced with adversity.
Enjoying the Process: Focusing on having fun in business and ignoring inner critic can lead to greater success and excitement in personal and professional life. Taking risks and connecting with others also contribute to a more enjoyable experience.
Embracing fun and enjoying the process can lead to greater success in both personal and professional life. The speaker shares how they learned to ignore the inner voice that discourages them from doing things they enjoy and instead, focus on having fun in their business. They also emphasize the importance of taking risks and having a "big swing" to keep things exciting. Additionally, the speaker encourages connecting with others and having fun outside of work to bring more energy and enthusiasm to everyday business activities. The speaker's philosophy is that life is not just about constant work and seriousness, but about enjoying the journey and having fun along the way.
Encouraging Creativity and Experimentation: Allowing time and resources for unconventional activities can lead to innovative ideas and increased happiness in personal and professional life. Companies and individuals should prioritize doing things that charge their batteries, even if they don't seem productive at first.
Allowing time and resources for unconventional and fun activities can lead to innovative ideas and increased happiness in both personal and professional life. Companies like Google and Facebook have implemented policies such as "20% time" and "no ROI play" budgets to encourage creativity and experimentation. Individuals, like Tim Ferriss, also prioritize doing things that charge their batteries, even if they don't seem productive at first. The belief that getting older means becoming boring is a common, but misguided, assumption. Instead, we should strive to make the ordinary extraordinary and continue to take on new challenges to maintain energy and excitement for life. As Sylvester Stallone once said, "I think that life belongs to people who can make a sick joke out of it all." By approaching life with a sense of humor and a willingness to try new things, we can avoid falling into a depressive or monotonous state and instead, focus on doing our most meaningful work.
Showmanship in Business and Life: Instead of asking about what's new, ask about what someone is excited about to generate positive responses. Showmanship is crucial in business and life to capture attention, and investing in the anticipation can be more enjoyable than the event itself. Focus on improving the consumption of your content first to effectively ask.
Asking about what's new can put people in a sad state of reflection, instead, asking about what someone is excited about coming up can generate more interesting and positive responses. Showmanship, or the ability to bring excitement and drama to ordinary things, is crucial in business and life to capture people's attention. Planning and engineering exciting experiences is essential, and investing in the anticipation can be more enjoyable than the event itself. The art of showmanship, including storytelling, stage presence, and visual storytelling, is a lost art form that is experiencing a renaissance in the digital age. To improve at showmanship, focus on understanding the principles of hooking and retaining attention and making an ask. Instead of solely focusing on the offer and ask, prioritize improving the consumption of your content first.
Effective lead generation: Offering valuable content in exchange for contact info and gradually building interest with multiple storylines can lead to significantly more leads and sales than traditional methods.
Having a repeatable and predictable system is crucial for businesses to succeed, rather than relying on luck or hoping for the best. This can be achieved through effective lead generation, such as offering valuable content to attract potential customers and gradually building interest with multiple storylines. A successful lead generation funnel involves providing a valuable resource in exchange for contact information, then making a compelling offer. For example, a digital agency might offer a free report on Facebook ad strategies to attract potential clients. In the e-commerce world, brands are successful by providing organic, non-salesy content that piques interest, then making an ask at the end. The key is to provide value and build trust before making a sales pitch. This approach can lead to significantly more leads and sales than traditional methods. For instance, a free report or book can lead to millions of copies sold through a funnel.
Providing value upfront: Providing value upfront through sharing expertise and knowledge can build trust and credibility, leading to potential clients recognizing your expertise and returning in the future.
Providing value upfront through sharing expertise and knowledge can lead to potential clients recognizing your expertise and trusting you to handle their needs, even if they don't have the time or skills to do it themselves. However, it's essential to be transparent and not use this approach as a bait-and-switch tactic. Instead, lead with your best foot forward and give away everything you know. This approach builds trust and credibility, and even if the potential client doesn't become a client right away, they will remember the value you provided and may come back to you in the future. The key is to create high-quality content that stands the test of time, like a book, and not just a sales pitch. Sabri Suby, a marketing expert, emphasized this approach in his experience, and it's a valuable lesson for anyone looking to build a business or establish themselves as an expert in their field. You can find Sabri on various platforms under the name Sabri Suby, and his YouTube channel is an excellent resource for marketing insights and tips.