eBiz Weekly #6

A one-person $2 million business, latest finance report, and Elon Musk's crazy travel schedule

Hey there,

How are you getting on this week?

Writing to you once again from Chiang Mai in Thailand, only a few days left here before heading back to Europe.

There’s actually a bit of mass exodus happening in Chiang Mai this time every year, due to start of the infamous “smoky season.”

Anyway, let’s dive into a few things related to online business…

The Photos People Pay For
A pro travel photographer shares an uncomfortable truth about the biz: “The images from my wife’s list outsold the images from my list at a ratio of 10:1. This in spite of the fact that the images from my list were less common and more difficult to create.”

Everything I Earned And Spent In January
You can see my latest finance report here. I finished the month in the green, which was nice. Freelancing is keeping me afloat while I try get eBiz Facts generating some steady income. Also of note: I spent $432 buying four courses in January. We’ve reviewed only one of them so far. The other three are in the works.

Free Accommodation In Mexico, Ireland, England, Spain, Cyprus
In my Start Earning Online series I recommend two “extreme” measures if you’re struggling to free up time to build an online business: quit your job, or go work abroad. A potential third option: housesitting. David sent along this article which serves as a solid intro. The Canadian couple who wrote it have found housesitting gigs in all the countries listed above. Not a bad way to keep expenses low while you’re getting your biz off the ground.

How An Instagram Influencer Makes A Living
Some interesting nuggets in this article and video about Meghan Young, a full-time Instagrammer:

  • Companies spent about $1.6 billion on Instagram marketing last year.
  • Meghan earns $50-100k a year.
  • About 70% of her pitches to potential partners get rejected.
  • She charges $1,500 per post, and $200 per story.

394 Sales In 2 Weeks
On December 19th last, Shane Melaugh of Thrive Themes decided to build an online productivity course all by himself. He pitched the idea to his mailing list of ~6000 people and a few weeks later had already made 394 sales. That’s an impressive conversion rate. Shane breaks down his 7-step launch strategy in this excellent 22-minute video.

MLM’s 95% Failure Rate
Multi-Level Marketing gets a bad rap… as it should. This article does a good job of outlining the issues with MLM businesses, but the most striking has to be the failure rates, which far exceed traditional small businesses. Also, “the median income for an MLM rep is about $2,400 per year.” Steer clear.

A One-Person, $2 Million Business
This month in our private book club, we’re reading The Million-Dollar, One-Person Business. One of the businesses profiled in the book is Tools4Wisdom, which doesn’t look all that special at first glance, but it generated $2 million in revenue back in 2016! And apparently there are 35,000+ other “non-employer” $1 million businesses in the USA alone. The internet is a powerful thing.

Elon Musk’s Intense Travel Schedule
Last year I visited 13 countries and took 23 flights. But that ain’t nothing compared to Elon Musk. This time-lapse from the Washington Post tracks the billionaire’s 250 flights last year. Private jet or not, that looks exhausting!

That’s all for now.

Keep at it.

I’m rooting for you.

Niall Doherty
eBiz Facts

P.S. I mentioned a private book club above. That’s part of the Freedom Business Builder community. More info here.

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