TAS 676 How Do I Reduce RISK and TAKE ACTION in MY Business Journey? Ask Scott #212

It’s that time of the week again – another session of Ask Scott is here! This is the place to be on Friday or any day of the week, really. Get an extra push in the right direction and hear helpful content that is relevant to you and your ecommerce business. On this episode you’ll hear from Scott as he gives an update on TAS resources and events, shares his thought of the week, answers a question from a TAS follower like you, and much more. You don’t want to miss a minute of this fun and helpful episode of The Amazing Seller!

Don’t be afraid to make a pivot

If you find yourself ready to start moving into the ecommerce space but you aren’t quite ready to go, “All in,” what should you do? Is there a way to get your feet wet without diving off into the deep end? Yes – there is! Scott encourages sellers who want to test the waters to connect with an influencer who has a following but doesn’t sell their own products. By connecting with an already established brand – you can start testing your knowledge and help them explore new opportunities for their business. It’s a win-win scenario! Tune into this episode of The Amazing Seller to hear Scott expand on this great idea!

A great way to get your feet wet

If you find yourself ready to start moving into the ecommerce space but you aren’t quite ready to go, “All in,” what should you do? Is there a way to get your feet wet without diving off into the deep end? Yes – there is! Scott encourages sellers who want to test the waters to connect with an influencer who has a following but doesn’t sell their own products. By connecting with an already established brand – you can start testing your knowledge and help them explore new opportunities for their business. It’s a win-win scenario! Tune into this episode of The Amazing Seller to hear Scott expand on this great idea!

What do you have to lose?

If you’ve been around the TAS community for very long, you know that Scott is passionate about helping ecommerce sellers like you TAKE ACTION. Have you been taking action lately or have fear and worry taken over the driver’s seat? Remember, there is a whole TAS community here to help you find the tools you need for long-term success. From TAS classes and events to resources like ebooks – this community was built with sellers like you in mind. Make sure to check out all the links located in the resources section – they are there for your benefit!

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • [0:03] Scott’s introduction to this episode of the podcast!
  • [5:30] You’ve got to be willing to make a pivot.
  • [10:45] Question: How do I reduce risk and take action in my business journey?
  • [13:30] Scott explains how to “Test” what you’ve learned about brand building.
  • [19:30] Closing thoughts from Scott.
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TRANSCRIPT TAS 676

TAS 676: How Do I Reduce RISK and TAKE ACTION in MY Business Journey? Ask Scott #212

[INTRODUCTION]

00:02   Hey, what's up? Welcome back to another episode of The Amazing Seller podcast. This is episode number 676 and session number 212 of Ask Scott. This is where I answer your questions here on the podcast and I'm going to do it again here today and I'm…

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…fired up that you're here on a Friday. If you're listening to this on a Friday, it might be on a Monday if it is happy Monday,

00:24   but right now, uh, I'm pretty fired up because I want to dive into this topic that we're going to be covering here today and that is how do I reduce risk and take action in my business journey? That's a great question. I think we'd all would like to know that answer, right. Well, I'm going to give you my thoughts on that. That question came in and I do have some thoughts on that and a, I'm going to share them with you here today. Now, if you have a question that you want me to answer on an upcoming ascot session, all you have to do is head over to the amazing seller.com forward slash ask. And you can do that. Just leave your first name, where you're tuning in from. And a brief question and I'll do my best to answer it here on an upcoming ascot session.

01:06   And one thing I want to say is if you have a question that you might say, well, I'm not sure if that's a right question that I should ask. That's probably the question you should ask. Because a lot of people think, oh, I don't want to sound dumb. I don't want it to be a, you know, a stupid question. The only question that's stupid is the one you don't ask, you gotta ask it. All right? We want to be able to help you. I want to be able to help you. And if we were sitting in that coffee shop that I talk a lot about, we'd be asking all kinds of questions. So do not feel as though it's a dumb question. Um, so just ask it all right. And I think in anything, when, when you reach out to likeminded people, they get it.

01:42   And uh, if you're not surrounding yourself with those people, you really should be. And that's probably where I should, uh, let you guys know that if you haven't grabbed your ticket yet to a place where there's going to be a lot of likeminded people and you can ask all kinds of questions and learn and take action at the same time. And that is our event in September brand accelerator alive. And you can go there and grab tickets. Now, depending on when you're listening to this, the discount is still available. Um, if you're listening to it after the fact, if there's tickets available at that point, um, they will be at regular price. So go to brand accelerator, live.com. Uh, I'm telling you right now that there will be an action packed event where you will be able to connect with likeminded people. And the one thing that I've always noticed whenever I attend a live event, sometimes I'm like, ah, I don't know if I want to go or whatever.

02:33   Like just leaving the family or taking the flight or whatever. Whenever I get done, I would say 99% of the time I'm so glad that I did. I come back energized and ready to just, you know, light the world on fire with positivity of course. But I, you know, I just can't stress it enough. When you get around like minded people, it gets you ready to go. But the cool thing is is we're going to get that lined up, but then we're gonna also give you action steps that can go and implement immediately. So brand accelerator, live.com go check it out. All right, so that's one of my reminders I wanted to give you the other reminder, and this is a little bit time sensitive, is um, we're going to be doing a live class and I mean a live class in the sense that we are going to be showing up and teaching this live as if we were there in the classroom together.

03:20   It's something that we are trying out. We're going to see how it goes and the first topic that we're going to be covering, and again, if you guys missed the last couple of episodes I was talking about this where we are going to dive deep into these, these different parts of the process and this one here is traffic and profits. How can we get tons of traffic in any market and how can we turn that into profits through maybe ad networks or affiliate offers or maybe our physical products or ones that we haven't even launched yet. That's what we're going to be talking about because I do believe that is the most important thing that you could be focusing on right now. Once you learn this, once you implement this, you'll start building momentum. You'll start learning a skillset and you can take that on to whatever else you want to do in the future.

04:09   So traffic and profits is what we're going to be teaching here over two days. Now here's the catch. If you want to show up and attend, it's free live, okay? And the reason why I'm doing this is I want to encourage you to show up live. I want a live audience. I want you guys to be there so you can ask questions so we can kind of go through this together as if we were in that classroom together. All right? Now we're also doing it because we're going to turn this into a paid training later. All right? And this way here, you can sit in on it and you will have full access to this training as we're teaching it live. So it's that valuable. All right? So if you're interested, head on over to t a s class.com. Again, that's t a s class.com.

04:51   You get all the information and the details there. You can sign up and make sure that you're notified when we go live so you can show up live. All right, and that's going to be May 29th and 30th again, if you're listening to this after the fact, you can still go there and you can see the upcoming classes or you can even see how you get access to traffic in profits, that micro training that we're going to be doing there. All right, so definitely, definitely check that out. All right. Before we dive in, one more quick thing here, I want to go over and that is my thoughts were my quick thoughts. I'm going to kind of get to this really quickly because it does also lend itself very well to what I'm going to be talking about here on how to reduce risk and take action in my business journey.

05:31   Here's the deal. You gotta be willing to test and pivot in your business and sometimes in life. But let's just take this into the business world. And I've been doing this now for wealthy count brick and mortar for over just about 18 years, which is kind of crazy online over 12 years. And I've done my share of test and I've done my share of pivoting and it's not always comfortable. It's sometimes uncomfortable, but it's sometimes what we have to do. But even on a smaller scale, as things change, whether it's Amazon does an update or maybe the market changes or maybe the channels change or the rules change, or Google decides to come out with an update or whatever, things happen and you have to adapt, you have to change. But once you're armed with the skillset, you can pretty much figure out what you need to do next.

06:19   But the thing is you need to be willing to test. I get a lot of people to say, Scott, what should I do? Should I do this? Should I do that? Show you this. I always say you should test it and then that will tell you by the results, right? And then you can tweak it and then you can pivot. Right. Recent story I want to share with you on this is we recently took all of our traffic from our blog in the physical product, a brand that we have and we took that traffic, which is about 250,000 impressions per month. And we took an offer and put in front of those of those readers. Okay. Instead of it being our optin, we had an email capture form where we were capturing emails, you know, maybe a five top bass fishing tips, you know, grab them here, put your name and email address in.

07:03   And we are doing that. We were upwards of getting 130 to 150 email opt ins a day. And what we decided to do is run a little test and that test was let's try and put a digital guide in front of them, charge them $4 and 99 cents for this really deep, you know, a deep dive into a certain topic. And give them that. And then from there we could also give them more opportunities to further either educate themselves or buy accessories like a, you know, a inmate, maybe a fishing lure to help them catch more bass, like whatever. So it's a little mini funnel in a sense. And we did that and the first month and a half it was really successful. We, we dropped in how many email optins we were getting, how many email, how many email addresses we were capturing. But we turned that into a about a 20 to $100 a month extra revenue added to the business.

07:55   Okay. Which was pretty awesome. But then we started to see a little bit of a fall off on the uptake on that because you probably have readers that are, that are coming back more than once. And then also we noticed a little bit of our ad, uh, our, our ad revenue starting to decline a little bit. So because of that we said, why don't we try this? Why don't we switch it back and why don't we, why don't we see if we can just put the email capture form back to where it was. And then from there on the, on the messaging, once we re, you know, kind of like reply to these people because we have an autoresponder set up in place. Uh, and so what we did now as we kind of flipped it around, we're still capturing the email 10 you know, five tips to catch more bass and then the very first email they're going to get immediately going to give them those five tips.

08:40   And then also we have a little bit of a background about, about our brand. And then in the PS, oh by the way, if you want to check out our guide on how to catch more bass go here. Right? So we're testing that. Literally, we just changed that about 24 hours ago and we already have captured 75 email addresses versus before we are capturing about 10 but we, cause we were, you know, we switched it over to where we were, we were selling our guide but the guide, we were selling five to 10 copies of that a day. But then that kind of dropped off. So now we're starting to see that we're getting the email opt ins again, which is great. Um, but now we have to see if we're going to still convert to some of those, those books, sales and the upsells inside of them.

09:21   So again, it's a test but we're pivoting because we looked at the results and we said we might be losing a little bit here in but gain in here what's more important. So now we can take the 80 20 and we can go, which one should we focus more on? So we're going to test it now. I will report back to you on this test, pride to a full episode on that. But my, you know, I guess what I'm trying to say to you guys is you have to be willing to test and pivot in business. It's going to happen. I don't care if you're running a brick and mortar and you are maybe, uh, maybe you are a, uh, I dunno, maybe you're in gardening or something and you get a competitor down the road. They open a garden shop. What are you gonna do?

09:58   You got to think differently now, right? You've got competition or you see this all the time when micro brews, right? That's popping up all over the place. I had a friend of ours, they owned a little, a little, um, it was a little pub and down the road they went ahead and they had a, you know, they had someone opened up a shop maybe, oh, I don't know, six blocks down. Well guess what? Their business kind of went down a little bit. So now they got to reinvent themselves. It's a lot harder to do that then on the online space to be honest with you. Cause we can go other places to get traffic and attention. All right. But you have to be willing to test and pivot. Period. All right, so there's my, I thought, quick thoughts, but I guess it was a little bit deeper than that. So. All right, let's get ready to rock and roll. I'm ready if you are, let's go ahead and listen to this question. I'll give you my thoughts. We can wrap this up and you guys can get on with it and get out there and take some action. What are you saying? Let's do this

10:48   of, let me say that your parts guys is great. Thank you. Providing these knowledge. Okay, great. I have been a software developer for 11 years and I was thinking hi. And I was looking for a way out and in my own boat, sorry I found you archives about three years ago and the idea of ecommerce. Okay. Growing in me now I am finally laid off from my job and I do not want, Yup. Right. Hmm. Okay. But even though I have been learning all the knowledge from you, I am just not competent enough. Sure. Okay. Action. Yep. So I'm wondering if I think it's a good idea as a assistant. Yeah. Someone or work ecommerce company. So I can like this, the scares of sounding online and do you know a better way to find this other than [inaudible] job search website. Thank you. All right, well thank you so much for the, and I'm going

11:54   to try to pronounce the name. It's either tea or Chai. I'm going to go with Chai. It's c h I, but I could be totally wrong, so I apologize. But anyway, thanks for the question. And guys, you didn't say the name and this one, so I'm kind of reading it off of the email. If you guys submit a question, do me a favor, leave that name for me. That way I know how to pronounce your name. Uh, anyway. Uh, thank you so much for the question. Thanks so much for being a longtime listener. I mean, over three years. I appreciate you so much, uh, from all over the globe too. I mean, come on all over, all over the world, which is pretty awesome. So thank you so much. This is a great question. All right. How do I reduce risk and take action at the same time in my business journey like it's a, I think that's a million dollar question, right?

12:39   I do have an answer for you. Okay. Now I believe, and again, there isn't like a right or a wrong way. I think you need to get in the game. All right, and how do you get in the game? Well, there's a couple of different ways and you brought up maybe seeing someone else that has opportunity and you want to go ahead and and partner with them. Here's one thing that you could do. I'm going to give you a couple, but there's one thing that you could do very easily is you pretty much know how to do it. Okay. And a lot of you listening right now or like Scott, I've been listening. I know exactly how to do it. I'm going to go out there, I'm going to find the market, and then from there I'm going to maybe build a, you know, a blog with some content and then I'm going to publish and then I'm going to find a product that would go really good in that market.

13:22   I'm going to launch it on Amazon after I build my list and I'm going to push it. All of that stuff, you guys know it, right? That's what you're gonna do. But a lot of you get stuck on the market and you get stuck on the product. All right? What if you found someone that was on youtube that was doing a phenomenal job? Alright, and there they're doing great with their own content. They're talking a lot about bass fishing. They got a great following, but they don't sell any products. They might sell an affiliate product, maybe they sell fishing poles or whatever. And you can kind of see if they're using an affiliate link, what, wha what would it be like if you contacted them and said, hey, I know a thing or two about private labeling and ecommerce. Have you ever thought about selling your own products?

14:06   Because I could help you with that. And if you want, I could actually partner with you on that and you and I could, you know, could, we could share the earnings, I'm percentage on that side of the business. You keep the other side of the business, right? You keep your ad money and all that stuff. And what this does is it gets you in the game. You get to test what I just talked about, right? You get to test with someone else's audience. You have an advantage because they've already built up the audience, right? So that's an easy way. And actually my good friend Alex, who I had on the, on the podcast not that long ago where a, you know, she has grown this empire of a blog in the, you know, the travel fashion world. Um, and her blog is travel fashion girl, uh, a million unique visits.

14:50   She basically said off air, I should have recorded that part. She said, she goes, one of the biggest opportunities I see people not doing is partnering with influencers that don't have any desire or know how to launch their own physical products. It would just be so much easier to just go to them and go, I'll take all that off your hands. You know, and maybe they help you fund it. Maybe they don't. Or maybe you do like a prelaunch like Alex did. And you can then validate and test it before you actually do it. And maybe you, you tell or are you asked the audience, what three products of these are, would you be most interested in? Help us build it. Like you could tap into that. So that would be one way you can get in the game without you having to figure out your market and figure out, you know, uh, you know, what's your name going to be like, what's your domain?

15:38   You don't need to know any of that stuff. All right? And, and that way there, you're partnered with this brand. They are the influencer in a sense. And then you can partner with them. And then you get to actually see how it all works and as you're building it, right, and be honest with them, say, I'm doing this because I want to go ahead and and help a business like you. And what's going to benefit me is I'm going to learn this process as I do it, but I know how to do it. But I'm going to learn. And as I learned, we can see if it's the right fit. And if it isn't, we can just part ways, right? So there's really no risk on either part other than, yeah, you might lay out a little bit of money, but if you do a prelaunch like Alex did, you're not really doing that.

16:16   It's kind of like you're doing your own Kickstarter. So that's one way, which I think is awesome. So if you aren't doing that and you have, you know, if you're stuck and you don't want to go down the road by yourself in a sense, you don't want to build out that stuff. That's what I would do. All right. The second option is exactly what I've been talking about. And I actually dove really deep into the episode that I did about one of my students that I did a coaching call with. And I'll link all this up in the, uh, in the show notes. But, uh, I talked about what I would do if I was starting from scratch and I didn't want to just launch a product out of the gate, right? And I went through eight steps to do this. So this way here, you know, you can get started and learn that process.

17:01   That was actually episode six 72, if you're interested in the title of that episode was eight step plan to build free traffic assets and generate income at the same time. All right? Because what you're doing there is you're learning how to create and generate traffic, which to me is the ultimate advantage and resource that if you can bring that to someone or even just bring it to any business that you work with, that's huge. And it doesn't have to be paid. It can be just organic, right? And if you build out that stuff and in the meantime you're able to start monetizing that over time. So if you give yourself eight to 12 months, build that thing out, you can start to see money coming in just from ad networks. You can see it from affiliate offers and then maybe physical products. Okay. And then this way here, you're learning part of the process.

17:51   Okay. And you're not really risking anything other than time because a lot of times when you're saying, how do I do something without risking it, it's generally how do I risk losing money? Right? But this isn't losing any money. It's going to cost you like $3 for a domain name. If you go to go daddy and you get like your first domain from them, if not, it's like 10 bucks. Hostings going to be about five to 10 bucks a month. WordPress is free, you know, you just install that theme. Okay. And then you produce content. You can either do that yourself for free or you can hire someone to write it for you for 20 or $30 an article. And then you just show up on a regular basis, it's going to be more of your time that you're risking, which if you want it, if you know your why and you want it, you'll risk that time, right?

18:33   You're not really risking anything but time. Okay? So that's what I would recommend if you're at that point because either way you're learning, you're learning a skill set no matter what you do. Okay? So that's two things that I would recommend, uh, where if you're like stuck and you're like, I don't want to reduce or I don't want to, I don't want to risk this thing. I want to reduce the risk and I want to take action, but I just, I don't want to risk that. Uh, and, and you're stuck. That's what you wanna do. All right? And if you're already up and running and you're selling physical products already and you're doing somewhat okay, maybe you're doing even seven figures, well you should be learning that other skill set of how to build your own traffic, how to get organic traffic, how to turn those into email subscribers, how to then turn that into a, you know, revenue for your business and then drive additional sales.

19:21   So this works for both parties. Okay, both camps. All right, so two things I want to wrap up with. All right, number one, if you are interested in learning how to get traffic and turn that into profits while you're building out your brand, well you're going to definitely want to show up to this live training that I'm going to be doing with myself and Chris Schaffer, uh, on May 29th and 30th. And that you can find the details over@tasclass.com. Again, that's t a s class.com if you're listening to this after the fact, you can still go there and get all the information and you can also see how to get access to this class once it's available publicly. After we wrap up this live training, live training, anyone that's their live, I'm talking like shown up when we start and then going through this entire training, you will be there going through the training that we are going to eventually turn into a paid training.

20:19   So it is it is that valuable? Okay, so definitely go check it out ta s class.com and you'll get all the details there. And then last thing, if you want to hang out with some like minded people and really work on your business and almost force yourself to take action, then there's no better way to do that then in person at a live event and that's where I'd love to have you attend brand accelerator live. So if you haven't grabbed your ticket, do so brand accelerator, lives.com. All right guys, that's it. That's going to wrap up this episode.

20:48   As always, remember here for you, I believe in you and I am rooting for you, but you have to. You have to. Come on, say it with me. Say it loud. Say it proud. Take action. Have an awesome, amazing day and I'll see you right back here on the next episode.

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