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Look y'all gonna laugh but... So far I've failed 5 businesses, and so I decided, 2 months ago, to start a coaching/course business that helps future entrepreneurs avoid the same mistakes I did.
My logic is the following: when growing up (16-17 years old) I used to try and make money online, always, (since 8 years or so). Ever tried, ever failed.
I always searched in YouTube "how to make money online" or "how to make money online for teenagers", or... Etc. If you try to search in YouTube right now the only thing you will find is trash YouTubers who point mobile phones in your face with PayPal +10000$
And so did I. You feel when someone is lying straight to your face and trying to deceit you. The advice was so bad that I almost gave up trying.
Now here's the deal: we, potentially, have millions of hungry teenagers, who are aspiring entrepreneurs, but are, generally, lost. They try and they fail. I know for myself.
Now here come I. Technically speaking we have 20+ millions of views on these videos, so I ran ads before these videos. I tried to fill my funnels, but so far - except for guys who took my lead magnets - noone had bought. I advertised 2 offers: 1. Lead magnet with One-pager 2. "How to achieve success as a first time entrepreneur".
From 50$ I've spent on ads, ~50 have taken my lead magnet. Indians, Azerbaijans, Africans - you name it. I ran ads on the whole globe, without restrictions on the place (is this a good idea btw? The price is cheaper, but are the leads qualified?...)
The lead conversions are ~10%. Shitty, but I've tweaked some things around, maybe it'll work ~15-20%.
Now, here are the problems
A) I'm out of money. I've been spending money on ads... Without a single sale... For months (on another venture too)
B) I was, essentially, selling my mistakes, not even the advice I ran in. And hell! If I'd been given what I'm listening to I'd do many less mistakes, but still - I've never succeeded as entrepreneur myself.
I've been reading Unscripted recently and... I'm not sure that my advice is sound. My business was around the mistakes I've made, but the single biggest mistake I've made is not providing value. I was selfish.
C) Is selling to teenagers and "make money online" market a good idea? Potentially, we have millions to impact. On the other hand - will they buy? Alright, I can change my advice around - courses can be rewritten, made in a better quality.
One thing to note is that I'm essentially will be doing a holy work - turning people from guys with no goals to entrepreneurs -
The CENTS:
Need - people want to make money online
Entry - I believe if I create a movement I will be able to make it hard to beat me. If we can look at Hamza or Garret J. White (both self-improvement for men space, both created huge movements), people will buy.
If you don't know what kind of a movement I'm talking about - read the book Expert Secrets.
Control - my ads, my traffic, my funnels, my email lists to follow up
Scale - backend funnels can be pretty nice.
Time - well, courses, obviously. I'm trying to do as much free coaching as possible - to know my audience, but so far only 4 applied from 86 who saw my lead magnet - spoken to none yet.
I've done some analysis and up to the last 5 days my execution sucked. I've learned about producing instead of consuming, I'm getting better. But the execution was King and was the hardest part for me so far.
Gentlemen, your verdict? Maybe you see something from an experienced eye that I don't.
Perhaps you can suggest some experiments to verify my assumptions.
P. S. I know The Mom Test said that "you shouldn't ask anyone if your business is good idea", and yet.
My logic is the following: when growing up (16-17 years old) I used to try and make money online, always, (since 8 years or so). Ever tried, ever failed.
I always searched in YouTube "how to make money online" or "how to make money online for teenagers", or... Etc. If you try to search in YouTube right now the only thing you will find is trash YouTubers who point mobile phones in your face with PayPal +10000$
And so did I. You feel when someone is lying straight to your face and trying to deceit you. The advice was so bad that I almost gave up trying.
Now here's the deal: we, potentially, have millions of hungry teenagers, who are aspiring entrepreneurs, but are, generally, lost. They try and they fail. I know for myself.
Now here come I. Technically speaking we have 20+ millions of views on these videos, so I ran ads before these videos. I tried to fill my funnels, but so far - except for guys who took my lead magnets - noone had bought. I advertised 2 offers: 1. Lead magnet with One-pager 2. "How to achieve success as a first time entrepreneur".
From 50$ I've spent on ads, ~50 have taken my lead magnet. Indians, Azerbaijans, Africans - you name it. I ran ads on the whole globe, without restrictions on the place (is this a good idea btw? The price is cheaper, but are the leads qualified?...)
The lead conversions are ~10%. Shitty, but I've tweaked some things around, maybe it'll work ~15-20%.
Now, here are the problems
A) I'm out of money. I've been spending money on ads... Without a single sale... For months (on another venture too)
B) I was, essentially, selling my mistakes, not even the advice I ran in. And hell! If I'd been given what I'm listening to I'd do many less mistakes, but still - I've never succeeded as entrepreneur myself.
I've been reading Unscripted recently and... I'm not sure that my advice is sound. My business was around the mistakes I've made, but the single biggest mistake I've made is not providing value. I was selfish.
C) Is selling to teenagers and "make money online" market a good idea? Potentially, we have millions to impact. On the other hand - will they buy? Alright, I can change my advice around - courses can be rewritten, made in a better quality.
One thing to note is that I'm essentially will be doing a holy work - turning people from guys with no goals to entrepreneurs -
The CENTS:
Need - people want to make money online
Entry - I believe if I create a movement I will be able to make it hard to beat me. If we can look at Hamza or Garret J. White (both self-improvement for men space, both created huge movements), people will buy.
If you don't know what kind of a movement I'm talking about - read the book Expert Secrets.
Control - my ads, my traffic, my funnels, my email lists to follow up
Scale - backend funnels can be pretty nice.
Time - well, courses, obviously. I'm trying to do as much free coaching as possible - to know my audience, but so far only 4 applied from 86 who saw my lead magnet - spoken to none yet.
I've done some analysis and up to the last 5 days my execution sucked. I've learned about producing instead of consuming, I'm getting better. But the execution was King and was the hardest part for me so far.
Gentlemen, your verdict? Maybe you see something from an experienced eye that I don't.
Perhaps you can suggest some experiments to verify my assumptions.
P. S. I know The Mom Test said that "you shouldn't ask anyone if your business is good idea", and yet.
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