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eBiz Weekly #70

$40k hairdresser —> $100k copywriter

This week:

  • Dropshipping: “It’s Bullshit”
  • How to grow a YouTube channel
  • $40k hairdresser —> $100k copywriter
  • The Honest Newbie
  • $16/hour Virtual Babysitting
  • $70/hour Virtual Bookkeeper
  • 770,000 followers, very little income
  • My latest finance report
  • Can sobriety help you build a business?
  • The most interesting man in the world
  • $10 Udemy courses

Dropshipping: “It’s Bullshit”

That’s according to a recent article in Wired, based on interviews with several current and former dropshippers 📦

Key quotes:

Ellie still runs an e-commerce business selling plastic-free products, but now holds her own stock in a warehouse. She says she can’t imagine ever going back to work for a company, but she wouldn’t do dropshipping again. “The customer gets a shit experience.”

“They claim to be making money,” says Michael Craig. He’s roiling against the so-called “dropshipping gurus” who promise to share their secrets to anyone willing to pay. Around us, would-be entrepreneurs drink juice and work on laptops, moped helmets by their side. “You cannot prove how much money they’re making. That’s the thing. It’s all bullshit.’”

All of the dropshippers I spoke with for this story feel that they are living on borrowed time. They tell me that Facebook is becoming hostile to dropshippers, and ad spend is going up.

How to grow a YouTube channel

Noah Kagan gives Neville Medora some clever tips for growing a YouTube channel in this video 📈

Noah also makes a point about podcasts in there that I found interesting: the trouble with podcasts is that people rarely discover them by accident. In that way, they’re good for developing a deeper relationship with an existing audience, and not so good for introducing new people to your brand.

By contrast, new people can easily stumble across your YouTube channel or social media.

Worth taking that into consideration if you’re thinking about starting a podcast 🎙

$40k hairdresser —> $100k copywriter

A Redditor reports making that transition in one year 🚀

She lays out the key steps that took her from A to B, starting with shifting her mindset:

I had to unlearn everything I thought I knew about how to build a successful career, starting with challenging the belief that I wasn’t capable, or deserving of the career and life I truly wanted. These limiting beliefs mean most people just settle for a job they can tolerate, not the life they want.

I read the work of many successful female entrepreneurs to learn about how they overcame their own self-sabotaging beliefs, as well as researching material online about how to handle “imposter syndrome.” I have an entire hype-board on Pinterest, purely to remind myself that I am deserving of a seat at the table.

If you also struggle with limiting beliefs – and let’s face it, who doesn’t? – this DJP framework might help you shake loose.

Related: 17 short tips for great copywriting

The Honest Newbie

Pro freelancer Morgan Overholt tweets:

I just hired a guy on @Upwork who tells me he is not only an Upwork newbie – but it’s his FIRST DAY on the platform. Goes to show you – you don’t have to have a ton of Upwork experience, you just have to prove you’re the right person for the job.

Hopefully that will inspire you to apply for a few jobs you might otherwise pass up 😎

These two resources might also help:

$16/hour Virtual Babysitting

According to this article, that’s a thing now 💻👶

Three sites that connect virtual babysitters to parents: Sittercity, VeeBee, and Virtual Babysitters Club.

From the article:

VeeBee and Virtual Babysitters Club lists prices for individual sitters while Sittercity lets parents pick a price range but an explainer page for paying virtual sitters notes that the average cost of a sitter is $16.50 per hour.

Almost 30 sitters on VeeBee list their fee as $20/hour or more, but you can’t see if they’re actually getting hired at those rates.

If you try make some money doing this yourself, please report back and let me know how you get on 👍

Related: 35 more creative ways to make money online

$70/hour Virtual Bookkeeper

Kate Johnson tells her story on a new episode of the Side Hustle Show 🎧

Key points I pulled from that:

  • Kate taught herself bookkeeping via online resources
  • Almost all her clients have come from word-of-mouth (I call this the billboard method)
  • She charged her first client $20/hour and now three years later earns $70/hour

Bookkeeping not your thing?

You can probably mimic Kate’s approach and success with all kinds of skills (eg. copywriting, web design, or SEO).

770,000 followers, very little income

That’s the story of @Keondra.K on TikTok, who works at a homeless shelter for $18/hour to make ends meet 🤔

From the article, right after noting that TikTok is valued at $75 billion:

“Influencers are producing free content for a commercial platform that is making money off them. The platform is extracting the value of their labor,” said Alice Marwick, a professor of communications at the University of North Carolina at Chapel Hill. “As someone putting out content, you might get lots of validation and positive feelings out of it, but that’s true of any work, and people should be compensated for it.”

Keep this in mind before you pour lots of time and effort into growing a following on someone else’s platform. If there’s no clear way for you to monetize, you’re essentially working for free to build someone else’s business.

My latest finance report

It’s almost ten years since I started posting monthly finance reports detailing everything I earn and spend.

Here’s my latest report.

In brief:

💵 $4,683 income
💸 $2,065 expenses

May is looking good so far, and Google’s recent core algorithm update seems to be benefitting my site as well.

Can sobriety help you build a business?

Conor Walsh argues that it can:

Could I have successfully transitioned to rewarding, meaningful, and occasionally fascinating remote work without giving up alcohol? Possibly, but not likely. Through sobriety, I’ve finally achieved the most essential qualities for working remotely…

I quit drinking alcohol back in 2010 – right before I started my online business – and it has certainly been a big help, freeing up a lot of time and money over the years, and improving my focus.

If you drink regularly and also want to build a business, it’s worth trying a 30-day no-alcohol experiment and seeing where that takes you.

The most interesting man in the world

According to Tim Ferris, that might be Kevin Kelly.

KK recently turned 68 years of age 🎂 and and published 68 bits of unsolicited advice that are well worth reading.

Quoting a few of his gems related to business:

Pros are just amateurs who know how to gracefully recover from their mistakes.

Experience is overrated. When hiring, hire for aptitude, train for skills. Most really amazing or great things are done by people doing them for the first time.

The universe is conspiring behind your back to make you a success. This will be much easier to do if you embrace this pronoia.

$10 Udemy courses

Udemy has another big sale running until the 15th. Click here or use promo code SKILLUP2020 to see what courses are on offer.

Two courses I can recommend from personal experience:

Related: my in-depth review of Udemy + 588 top-rated Udemy courses

(Have you taken a really good Udemy course? If so, hit reply and let me know. There might be a backlink in it for you 😉)

That’ll do it for this week.

Was there anything above that you found particularly useful or interesting?

I aim to pack these emails with the best tips, insights and opportunities for building your online business. Your feedback helps me do that.

Also, feel free to forward this email to a friend, or you can direct them to the online version here: https://ebizfacts.com/ebiz-weekly-70/

In case you missed em, here are the last three editions of eBiz Weekly:

Until next week, stay safe and rock on with your legendary self 💪

Niall Doherty – Tbilisi, Georgia
eBiz Facts

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