Every Friday we email 3,459 legendary subscribers with tips and insights to help build and grow their online businesses. We also post the content of each email here on the website.
- Social Media Marketing Agency (new video review)
- Learning to code?
- 40 Lessons From 4 Years of Remote Work
- Making money from podcasting
- Progress happens slowly; setbacks happen fast
- How would you respond to this client?
- How to write a blog post (more valuable than you think)
- Royalty-free illustrations for your project
- Wanna work remotely from an Irish island?
- Airtasker (a new Upwork-like platform)
Social Media Marketing Agency (new video review)
Here’s a new video you might enjoy, literally published a few minutes ago: a review of Tai Lopez’s Social Media Marketing Agency program.
It complements my written review here.
I’ve been earning some decent affiliate commissions from that written review so I figured I might as well double-down on what’s working and create the video version.
(Funnily enough, it looks like the price of SMMA has been increased to $997 right as I’m releasing the video. D’oh! But I’m sure it will be back down to a more reasonable price soon enough.)
Likes, comments and feedback on the video would be VERY much appreciated!
Learning to code?
Here are 7 “absolute truths” a ten-year software engineering veteran had to unlearn as a junior developer.
Some of my favorite snippets from that:
- Not all experience is created equal.
- Mentors are so important.
- Being overly opinionated on topics you lack real-world experience with is pretty arrogant.
- Good enough is good enough.
- Focus on automation over documentation where appropriate.
40 Lessons From 4 Years of Remote Work
Read this first if you’re thinking of getting a remote job.
6. Most people already know whether remote work would work for them. If you think to yourself, “I can’t do that; I would just watch TV all day,” you’re probably right. Don’t try it.
14. Combatting guilt is the biggest remote work secret no one tells you. I think it’s because you don’t get any “cues” like you would in an office, like when you look around and you’re the only one working because there’s a cake in the kitchen.
28. The work soundtrack is so crucial! My tip is to scan Soundcloud for long (one- to two-hour) DJ mixes so I can get in a block of focus work. A great place to start is Soullection radio shows.
36. If you drive a vehicle, you will eventually work from home so long that you forget rush hour exists. When you remember why you’re stuck in traffic, you’ll kick yourself at first, and then marvel with gratitude that you don’t go through it every day like so many others.
Making money from podcasting
Some fascinating insights in this 2019 podcast report from Andreessen Horowitz.
They note that it’s notoriously difficult to make money from podcasts.
The average podcast apparently monetizes at only $0.01 per active user per hour. That’s 10x less than radio, 23x less than the rest of the web, and 71x less than newspapers.
That said, there are a few big winners out there:
- The New York Times’ The Daily podcast was projected to earn at least $10 million in revenue from ads last year (that’s $2 minimum per monthly listener).
- The top podcaster on Patreon, Chapo Trap House, earns more than $131,000/month from almost 30k patrons. (You can get a taste of their content here.)
- Back in 2016, podcaster Tim Ferriss wrote: “If I wanted to fully monetize the show at my current rates, I could make between $2-4M per year, depending on how many episodes and spots I offer.”
Quoting the Andreessen Horowitz report:
Some back-of-the-envelope calculations around how much podcasters are making: Assuming CPMs of $25-50, if a podcast is in the top 1% in terms of downloads episode, or has 35,000 downloads per episode, each episode could generate about $4,000 per episode with two ad slots.
(Related: Why No One Should Ever Start A Podcast)
Progress happens slowly; setbacks happen fast
Here’s a great article discussing five lessons from history.
At least three of them are applicable to business, especially #4:
Progress happens too slowly for people to notice; setbacks happen too fast for people to ignore.
For example, did you know that nobody really took notice of the Wright brothers and their flying machines until more than 4 years AFTER their first successful flight?
This is why grit and resilience are such important traits when you work for yourself. You often have to wait a long time to reap what you sow.
How would you respond to this client?
How would you respond to a prospective client who says:
“Your quote is too high. You told me X hours to get the job done. Other freelancers have told me they could do the job in Y hours max.”
A member of our private Freedom Business Builder group responded along these lines:
“Yes, I imagine my quote is higher than other freelancers. That’s because I take the time to get the job done right and make sure everything is double-checked and polished before I consider it finished. I’ve also factored in time to allow for revisions. My priority is to get the job done right the first time, and to achieve that I’m never going to be the cheapest option.”
He ended up selling the client on a $2,000 web design project!
That price was a little lower than originally quoted, but still his biggest freelancing gig yet.
I’d call that a win.
How to write a blog post (more valuable than you think)
Two use cases for this in-depth guide on how to write a blog post from Backlinko:
- You want to create better content for your own site and get more traffic.
- You’re a freelance writer who wants to create epic content for your clients and get paid serious $$$.
Either way, if you go through that post and implement the recommendations there, you’ll be doing better work than 99% of your competition.
Royalty-free illustrations for your project
Lots of slick illustrations available for free here, even for commercial use.
I particularly like that you can adjust the color of the illustrations to fit your brand before downloading.
Wanna work remotely from an Irish island?
Just be sure to pack your wellies.
Airtasker (a new Upwork-like platform)
I received an email from someone at Airtasker during the week and checked out their platform. It’s a bit like Upwork, but also includes offline jobs.
Filtering for remote gigs, here are a few juicy ones I found just now:
- WordPress website touch ups – $200
- I need video editing – $400
- Summarise 20 Business Articles – $300
- Digital & Social Media Marketing Expert – $500
- Set up a WordPress Membership Site – $800
Note however that, similar to Upwork, Airtasker does have quite high fees. They’ll take a 20% cut of your earnings when you’re starting out (full info here).
That’ll do it for this week.
Rock on with your legendary self.
Niall Doherty – Ubud, Bali
P.S. My latest Momentos are here.
By the way...
Freedom Business Builder
FBB is a private community of online business builders. Our 300+ members range from people just starting their first online businesses, to experienced online entrepreneurs earning thousands of dollars each month. More info here.
Travel Hacker’s Toolkit
Check out the top resources I recommend for the traveling online business builder. Cheap flights, a jet lag app, free VPN software, and more.
Great Value Courses
My go-to websites when looking to learn or enhance a skill are Coursera, Skillshare and Udemy. They have thousands of courses on many different topics, rated and reviewed so you can easily tell what’s best. Udemy and Coursera are pay-per-course, whereas Skillshare is a subscription model (my preference).
Start Earning Online
Check out our free crash course to help you build an online business, consists of 11 videos and accompanying articles.