eBiz Weekly is a free newsletter packed with tips, insights and opportunities to build your online business. We send it out every Friday to 6,301 legendary subscribers. We also post the content of each email here on the website.
- Would you do this to win $20k?
- 71 Passive Income Ideas
- The Danger of Platform Dependency
- 2 SaaS Success Stories
- 19 Ways To Make Money Online
- Free courses from Google
- White-label product: $16k profit last month
- Good ideas are like Nikes
- Marketing strategy of a $6 billion company
- The Guide To Design
Would you do this to win $20k?
Big-time YouTuber MrBeast ran a contest recently where you had to download an app and keep your finger on the screen 📲
Whoever kept their finger there the longest was due to win $25,000.
After 70 hours (!!) four people were still in the game, and MrBeast decided to end the contest and award them $20,000 each 🤑
(Note to self: add that to my list of weird ways to make money online)
71 Passive Income Ideas
This post from Side Hustle Nation may give you some ideas for earning passive income 😎
However, I’d caution you against focusing on passive income if you’re still struggling to earn active income.
As I wrote here, focusing on passive income when you’re just starting out trying to make a living online can be very distracting, and very costly.
The Danger of Platform Dependency
That’s a massive bummer for some Indian TikTokers who were apparently earning up to $800k per year, and it might soon be a massive bummer for some American TikTokers who are apparently earning up to $48k per post.
But it’s a good reminder for the rest of us to be careful about building a business that’s entirely dependent on someone else’s platform 🤔
2 SaaS Success Stories
In case you don’t know, SaaS = Software as a Service.
Famous SaaS businesses include Zoom, Slack, Dropbox, and Mailchimp 🐵
But it’s not just big companies succeeding with SaaS. Here are a couple of “small” success stories I found this week:
- Danny Postma launched a headline-generation tool and earned $16k in the first 48 hours.
- This 2-man team built a WhatsApp chat app for Shopify that’s up to $25k/month in little more than a year.
19 Ways To Make Money Online
Here’s the latest version of my framework, an attempt to list and explain all the different types of online business / ways to make money online.
If you’re feeling confused or overwhelmed, that doc should help you cut through it 😌
Feedback welcome. You can comment right in the doc.
Free courses from Google
Google Digital Garage lists 136 free courses “designed to help your business or in your career.”
The Fundamentals of Digital Marketing course even includes a free certification 👌
White-label product: $16k profit last month
Dave Nash writes on Reddit that he founded an ecommerce brand in February 2019 and last month it did $76k in revenue and $16k in profit 💰
Pretty sure the brand is Mount Lai.
Someone asked in the comments on Reddit how he came up with the product idea. Dave’s response:
I saw the product randomly while I was just surfing online and decided to sell it myself. Importing and reselling a white labelled product that already existed.
Goes to show that it’s not so much the idea that matters, but how well you execute.
Which reminds me…
Good ideas are like Nikes
👟 One of my many highlights from Felix Dennis’ book, How To Get Rich:
Good ideas are like Nike sports shoes. They may facilitate an athlete who possesses them, but on their own they are nothing but an overpriced pair of sneakers. Specially adapted sneakers may be a good idea. But the goal is still to win, and sports shoes don’t win. Athletes do.
Marketing strategy of a $6 billion company
Here’s an excellent article breaking down Canva’s marketing strategy that helped the brand grow to a $6 billion valuation 🤯
Worth a read if you’re interested in:
- Content marketing
- Link building
This part in particular is good to keep in mind:
Most SEOs only focus on keyword volume when they should be thinking about the intent behind those keywords. Search intent is the goal a person has when they type a query into a search engine.
There are four key types of online search intent:
- Informational: Looking for information (e.g., “who is Prince?”)
- Navigational: Looking to get somewhere specific (e.g., “Canva blog”)
- Transactional: Looking for an asset to buy, use or download (e.g., “create invitation”)
- Investigational: Trying to compare assets (e.g., “Canva vs. Adobe Spark”)
The Guide To Design
👉 This looks like an excellent resource to sharpen your design skills: “A free, self-guided class to help you take your first steps into digital product design.”
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-79/
In case you missed em, here are the last three editions of eBiz Weekly:
- #78 – A word of caution (re: affiliate marketing)
- #77 – Robo Advisors: $25,000 Comparison Study
- #76 – Mike Tyson earning $100k/month on Facebook?
- Full archive
Until next week, rock on with your legendary self 💪
Niall Doherty – Tbilisi, Georgia
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