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Nội dung được cung cấp bởi Daniel Budai. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Daniel Budai hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.
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#50 The Compound Effect: How to Scale Up and Find Success with Agencies, Software Companies, or Ecommerce Stores

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Manage episode 292472422 series 2855049
Nội dung được cung cấp bởi Daniel Budai. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Daniel Budai hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.

The Compound Effect: How to Scale Up and Find Success with Agencies, Software Companies, or Ecommerce Stores

We’re thrilled to announce our 50th episode of The Ecom Show, hosted by none other than Budai Media’s founder and CEO, Daniel Budai!

To match the excitement of this occasion, we’re lucky to welcome Martyn Cook this week on our show. This serial entrepreneur has proven time and time again that he can handle any industry, business model, and marketing strategy, evident by the several successful business ventures he’s launched in his career.
Writing + publishing books, creating traffic, starting software companies, and running an ecommerce empire
It’s a pleasure to listen to Daniel and Martyn speak about:

✔️ Early days of Facebook

✔️ Choosing the right business model

✔️ Expensive lessons in business

✔️ Conscious and ethical entrepreneurship

✔️ Legend of the Compound Effect

Before Facebook Ads...

Back when Facebook was in its earliest incarnation, Martyn noticed the potential for something massive. He saw pages with large amounts of engagement and a slowly developing marketplace for proven pages with active communities. Flash forward to 2021, where Facebook Ads are king, and the platform is heavily monetized with countless businesses depending on the traffic they can generate on the social media site.
After pouring in all his hard-earned money and purchasing several Facebook pages, Martyn realized he had stumbled on gold with the ability to drive traffic to any site he pleased.

Agency, Ecommerce, or Sofware?

He’s done it all, and there are admitted advantages to pursuing one of these unique business models, according to Martyn. Agency models are great because they require low overhead, scale relatively quickly, and let you grow at your own pace. These are the people that sell the tools to the ecommerce gold rush participants!
The ecommerce strategy is a viable one as well, and it allows you to invest in a product that grows in value each day. You have complete autonomy to do what you please and develop a brand, which is why Martyn believes building your own business is the best investment you can make!
Software is competitive, but it’s different in that it’s all about keeping a customer as opposed to bringing in new customers all the time.

Biggest Mistakes

There’s no rush quite like hitting major milestones while owning an ecommerce business, but it pays to set the infrastructure up right before you choose to scale.
Within 90 days of starting, Martyn and one of his companies hit a million dollars in revenue, and with little data available to inform him, he stormed on and scaled aggressively. After being let down by the postal service and high shipping volume, he had to refund a quarter-million dollars in goods, which definitely qualifies as learning the hard way!

Good For the World

We’ve heard this on our show before, but it gets repeated for a reason. You should always have a goal aside from making money when you start your business. For Martyn and his nootropic company, Noobru, it’s all about helping malnourished and impoverished people supplement their diets so they can get the nutrients they need.

In addition to feeling good about yourself, donating to a cause creates goodwill, builds loyalty, and gives you an additional value proposition to advertise!

1% Secret

Martyn is a massive believer in the “Compound Effect,” which is why he wrote his book The 1% Secret. It’s meant to address both personal and business problems with real actionable tips to employ each day.
The Compound Effect is all about doing what you can each day with small goals and developing. You won’t see changes overnight, but the slow, gradual change is the goal. This also rings true for businesses. Don’t worry about the first purchase being lots of revenue. Work on getting them to come back again and again… That’s where the real money is made!

Read The 1% Secret, check out Noobru, learn more at Smarterdestiny.com or connect with Martyn on LinkedIn!

Follow Daniel Budai:

Daniel's LinkedIn

Daniel's Facebook



Hosted on Acast. See acast.com/privacy for more information.

  continue reading

261 tập

Artwork
iconChia sẻ
 
Manage episode 292472422 series 2855049
Nội dung được cung cấp bởi Daniel Budai. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Daniel Budai hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.

The Compound Effect: How to Scale Up and Find Success with Agencies, Software Companies, or Ecommerce Stores

We’re thrilled to announce our 50th episode of The Ecom Show, hosted by none other than Budai Media’s founder and CEO, Daniel Budai!

To match the excitement of this occasion, we’re lucky to welcome Martyn Cook this week on our show. This serial entrepreneur has proven time and time again that he can handle any industry, business model, and marketing strategy, evident by the several successful business ventures he’s launched in his career.
Writing + publishing books, creating traffic, starting software companies, and running an ecommerce empire
It’s a pleasure to listen to Daniel and Martyn speak about:

✔️ Early days of Facebook

✔️ Choosing the right business model

✔️ Expensive lessons in business

✔️ Conscious and ethical entrepreneurship

✔️ Legend of the Compound Effect

Before Facebook Ads...

Back when Facebook was in its earliest incarnation, Martyn noticed the potential for something massive. He saw pages with large amounts of engagement and a slowly developing marketplace for proven pages with active communities. Flash forward to 2021, where Facebook Ads are king, and the platform is heavily monetized with countless businesses depending on the traffic they can generate on the social media site.
After pouring in all his hard-earned money and purchasing several Facebook pages, Martyn realized he had stumbled on gold with the ability to drive traffic to any site he pleased.

Agency, Ecommerce, or Sofware?

He’s done it all, and there are admitted advantages to pursuing one of these unique business models, according to Martyn. Agency models are great because they require low overhead, scale relatively quickly, and let you grow at your own pace. These are the people that sell the tools to the ecommerce gold rush participants!
The ecommerce strategy is a viable one as well, and it allows you to invest in a product that grows in value each day. You have complete autonomy to do what you please and develop a brand, which is why Martyn believes building your own business is the best investment you can make!
Software is competitive, but it’s different in that it’s all about keeping a customer as opposed to bringing in new customers all the time.

Biggest Mistakes

There’s no rush quite like hitting major milestones while owning an ecommerce business, but it pays to set the infrastructure up right before you choose to scale.
Within 90 days of starting, Martyn and one of his companies hit a million dollars in revenue, and with little data available to inform him, he stormed on and scaled aggressively. After being let down by the postal service and high shipping volume, he had to refund a quarter-million dollars in goods, which definitely qualifies as learning the hard way!

Good For the World

We’ve heard this on our show before, but it gets repeated for a reason. You should always have a goal aside from making money when you start your business. For Martyn and his nootropic company, Noobru, it’s all about helping malnourished and impoverished people supplement their diets so they can get the nutrients they need.

In addition to feeling good about yourself, donating to a cause creates goodwill, builds loyalty, and gives you an additional value proposition to advertise!

1% Secret

Martyn is a massive believer in the “Compound Effect,” which is why he wrote his book The 1% Secret. It’s meant to address both personal and business problems with real actionable tips to employ each day.
The Compound Effect is all about doing what you can each day with small goals and developing. You won’t see changes overnight, but the slow, gradual change is the goal. This also rings true for businesses. Don’t worry about the first purchase being lots of revenue. Work on getting them to come back again and again… That’s where the real money is made!

Read The 1% Secret, check out Noobru, learn more at Smarterdestiny.com or connect with Martyn on LinkedIn!

Follow Daniel Budai:

Daniel's LinkedIn

Daniel's Facebook



Hosted on Acast. See acast.com/privacy for more information.

  continue reading

261 tập

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