Working out if you’re building a business with a chance at profitability

Posted on January 5, 2025 | by Peter

I’m currently working on launching an iOS app and am ready to start promoting it. Like any new project, my ultimate goal is to build a profitable business. But instead of diving headfirst into spending, I want to ensure that the numbers work in my favor before scaling up. This post is a breakdown of my thought process, early experiments, and what I’ve learned so far about setting targets for a sustainable app business.

Why PPC Is My Starting Point

When it comes to marketing a new app, there are plenty of options: social media, influencer collaborations, SEO, and more. However, I’ve decided to focus on Pay-Per-Click (PPC) advertising as my starting point. Why?

Control: With PPC, I can tightly control who sees my ads, how much I spend, and how I scale campaigns.
Immediate Feedback: PPC delivers quick results. I can start gathering data right away to see what’s working and what isn’t.
Scalability: If the ads are profitable, I can reinvest and scale up.

But to make PPC work, I need to fully understand the metrics that will make or break this business.

Baseline PPC Numbers From My First Test

I’ve already run a small test campaign to establish some baseline numbers. While I’m still optimizing the ads, targeting, and messaging, here’s what I’ve learned:

Cost-Per-Click (CPC): The CPC on my first ads ranged between £0.22 and £0.45, depending on the audience segment.
Conversion Rate: I don’t have reliable conversion data yet because the app is still pending approval on the App Store. However, I’m assuming a 5% conversion rate as a starting point for analysis. (This is optimistic but achievable with good ad creatives and landing page optimization.)

What Metrics Should I Be Targeting?

To make this business work, I need to focus on a few key variables:

Price Per Sale
CPC
Conversion Rate
Apple’s Cut: Apple takes 30% of every app sale, which significantly impacts profitability.

Profitability Analysis: Can This Work?

Cost Per Acquisition (CPA):

CPA = CPC / Conversion Rate

For example, if CPC = £0.30 and the conversion rate = 5%:

CPA = £0.30 / 0.05 = £6

Net Revenue After Apple’s Cut:

Apple takes 30% of the app sale price. For example:

At £9: £9 × 0.7 = £6.30
At £12: £12 × 0.7 = £8.40
At £15: £15 × 0.7 = £10.50

Profit Per Sale:

Profit Per Sale = Net Revenue - CPA

If CPA = £6 and the app price is £9:

Profit Per Sale = £6.30 - £6 = £0.30

Sales and Traffic Requirements for £100,000 Profit:

Sales Required = Profit Goal / Profit Per Sale

Traffic Required = Sales / Conversion Rate

At a £15 price point with a 5% conversion rate:

Profit per sale = £10.50 – £6 = £4.50
Sales required for £100,000 profit = 100,000 / 4.50 = 22,223
Traffic required = 22,223 / 0.05 = 444,460

Key Insights From My Analysis

It seems like I need to get a £12 price point with a conversion rate of 4% or more and a CPC of below £0.30 to really make this business work. Which will be hard but, not impossible. Here are a few tables I played about with that got me here…

Conversion Rate Is Critical: If the conversion rate falls below 3%, this business is unlikely to be profitable. Even at a 5% conversion rate, I need to ensure my CPC stays below £0.30 to make the numbers work.
Higher Price Points Are Better: A price of £15 allows me to reduce the sales volume and traffic requirements compared to £9 or £12 pricing. However, this requires positioning the app as high-value to justify the cost.
Apple’s Cut Hurts Margins: The 30% fee significantly impacts profitability. Factoring this in early has been eye-opening, as it increases the importance of keeping acquisition costs low.
PPC Alone Isn’t Enough: While PPC is a great starting point, I’ll also need organic traffic from platforms like TikTok, Instagram Reels, and YouTube Shorts to reduce dependency on paid ads.

Next Steps

Here’s what I plan to do next:

Optimize Ads and Targeting: Refine ad creatives and audience targeting to lower my CPC.
Prepare for App Store Approval: Ensure the app’s landing page and App Store listing are fully optimized for conversions.
Scale Carefully: Start with a small budget, measure ROI, and reinvest profits to scale.
Test Price Points: Run A/B tests to see how different price points affect conversion rates and overall profitability.

Why This Analysis Matters

This type of detailed profitability analysis has been invaluable in helping me set realistic expectations and targets for my app. It’s easy to get caught up in the excitement of launching and scaling, but without clear metrics, it’s just as easy to spend money without seeing a return.

If you’re building a product or service, I highly recommend taking the time to run the numbers. Even basic models like these can provide clarity and confidence in your decisions.

Closing Thoughts

Launching a business is exciting, but it’s also a numbers game. By starting with PPC and diving into profitability analysis, I’ve gained a much clearer picture of what it will take to make my app a success. Whether or not this exact strategy works, the lessons from this process will guide me in every project I tackle moving forward.

The Problem with “Proven” Email Sequences: Why They Don’t Always Convert

Posted on November 1, 2024 | by Peter

Recently, I had a conversation with my friend Alex (not his real name), a consultant who’s finally ready to launch his first course. Alex has been using social media and content to try and drive more sales for his business, and I’ve been encouraging him to try a course for a while now. So, it’s exciting to see him dive in! But I wasn’t thrilled with his chosen launch method: an email sequence.

There’s a ton of advice out there saying you need an email sequence to launch a course. And sure, if you have tens of thousands of subscribers, it might make sense—the volume can make up for the lower conversion rates. But if you’re like Alex, with a more modest audience, relying solely on email could leave you feeling frustrated with the results. Here’s why I think a more personal, hands-on approach is the way to go, especially if you’re just starting out.

The Reality of Email Sequences: Low Conversion Rates

The stats on email conversion rates might surprise you. Here’s a look at the average numbers:

• Average email open rate: Around 20-25%

• Average click-through rate (CTR): Roughly 2-3%

• Conversion rate after clicking: Typically around 1-2%

Let’s break that down with some real numbers. If you send an email to a list of 1,000 people:

• 200-250 will open it

• 20-30 will click through to your sales page

• Only 1-2 people might actually convert and purchase your course

Even with great copy, it’s clear that email alone doesn’t provide strong odds for someone like Alex, who doesn’t have tens of thousands of subscribers. That’s why I suggested a different approach.

Why you should go with a personal touch

When your audience is smaller, personal outreach can be incredibly effective. Rather than relying on automated email sequences, reaching out one-on-one through email, DMs, or even calls allows you to create genuine connections that are far harder to ignore.

Here’s what I suggested to Alex:

• Skip automation for now: Instead, directly engage with people who’ve shown interest in his content. Reach out, ask if they’d like to try the course, and invite honest feedback.

• Leverage one-on-one connections: His advantage at this stage is that he can build personal relationships, unlike big-name creators who are often just another email in a flooded inbox.

• Use a CRM to stay organized: When managing multiple personal outreaches, organization is key. This is where a CRM like lnks.to can help, letting you track contacts, follow-ups, and engagement in one place.

Comparing the Numbers: Email Sequence vs. Direct Outreach

To illustrate this, let’s look at how a typical email sequence funnel compares to a direct outreach approach:

Email Sequence Funnel:

• Social post views: 5,000 people see a post promoting the course

• Email list signups: 100 people sign up (2% of views)

• Open rate: 25% (25 opens)

• Click-through rate: 3% (3 people click to the landing page)

• Landing page conversion rate: 10% (0.3 people convert – not even 1 full sale)

With numbers like these, Alex could invest time into a sequence and see minimal returns, simply because his audience size isn’t large enough to offset low conversion rates.

Personal Outreach Funnel:

• Outreach (email/DM): Reach out personally to 100 warm leads

• Response rate: 40% (40 people respond positively to the initial contact)

• Discovery call booked: 25% of those who respond (10 calls booked)

• Sales call conversions: 30% of calls convert to a purchase (3 course sales)

By reaching out personally, Alex could see much higher engagement and conversion rates, translating to more sales. The personal approach allows him to showcase the course’s value directly, answer questions, and guide leads through the decision-making process. Not to mention, each interaction builds a stronger relationship, making future sales easier.

Why Scaling Comes Later

The big names in online courses often promote email automation because it works at their scale. When you have hundreds of thousands of subscribers, even a 1% click-through rate can yield thousands of clicks. But for someone like Alex, whose list is modest, the one-on-one approach is far more effective at building trust and converting leads.

I advised Alex to focus on validating his course through personal outreach first, making those initial sales, and refining his pitch based on real feedback. Once he’s confirmed there’s demand, he can consider scaling up with email automation. But right now? His edge is in those personal connections.

Using lnks.to’s CRM to Simplify the Process

One of the reasons I built a CRM into lnks.to is for scenarios exactly like this. When you’re launching a product or course with a smaller audience, every personal interaction counts. The CRM lets you keep track of each person you’ve reached out to, organize responses, and follow up as needed.

Rather than losing potential leads in an email inbox, a CRM keeps everything streamlined so you can stay on top of your outreach. It’s a simple but powerful tool that helps you focus on conversions, not just contacts.

To make it a little clearer, here is a video that shows you how to manage the whole process…

A Final Thought on Launching Courses

If you’re thinking about launching a course and your audience isn’t huge yet, consider trying the personal approach. Don’t get caught up in the automation hype before you’re ready. You might be surprised by how much traction you can get by reaching out directly to people who already know and value your work.

The Reality of Running a Remote Consulting Business: The Mechanics

Posted on October 29, 2024 | by Peter

The reality of how my business works. The mechanics of running a remote consulting business. (Detailed)

I am currently in Dubai. I have flown in to see a close friend of mine who left the UK years ago and has recently moved to Dubai. Before I left for the UK I was talking to a prospect for lnks.to, where we eventually got talking about my consulting and how I work while travelling. Then while in the cab on the way to my hotel from the airport, the driver asked about what I do too. I thought it would be worth explaining here because I think others are too vague and I want to explain why I think the mechanics of the business works.

I am trying to share how the business works so this is going to be less of a deep dive into what I actually deliver but more about the processes that allow me to deliver. A more operational take if you will. That being said, I think I should explain a little about how I help clients because there is some important context here.

Who do I help

In the past, I would help small companies with Marketing and Operations. I would create strategies to help them overcome complex problems then help them roll out the strategy. While I have one or two clients that come to me for ad-hoc advice about marketing strategy and operational questions who are more generic companies, this is rare at this point so when I say “clients” for the rest of this post I am talking about Accounting firms.

More specifically, I work with operational leaders; CEO, Head of Operations, Operations, and Practice Managers within small accounting firms, typically with 10-50 staff, sometimes smaller, sometimes larger.

How I help them

In short I help accounting firms build scalable processes. This means working out the most efficient way to deliver the services they charge for or, processes they use to manage the team. (Sexy, I know)

I will typically help them break down how they are doing the service and what they can do to speed things up. Another example is advising what software they can use to make things easier. Then I advise on how to train the team to take on these new processes and systems. In many cases I deliver the training.

In the majority of cases at the moment, the way I am helping practices achieve this by rolling out Karbon which is a workflow management and communication software.

What does “efficiencies” actually mean?

Let me give you an example…

An accounting firm with 20 staff. They deliver payroll and 8 other services for their 300 clients. To keep things simple, lets say, each of these services require the following steps:

Get information / update from the client
Process the information
Internal Review
Client Review
File

Lets say each of the steps takes time but lets just focus on the stages with client interactions. Requesting the information from the client and chasing them until they hand it over. Typically clients ignore the first couple of requests so this can take a little longer than one would hope. Here is how the process might play out in reality:

Get information / update from the client
1. Initial request: Remembering which client to chase, composing the email – 10mins
2. Chase 1: Remembering which client to chase, composing the email – 5mins
3. Chase 2: Remembering which client to chase, composing the email – 5mins
Client Review
1. Initial request: Remembering which client to chase, composing the email – 10mins
2. Chase 1: Remembering which client to chase, composing the email – 5mins
3. Chase 2: Remembering which client to chase, composing the email – 5mins

That is 40 mins in total. Now all team members doing this for all clients…

40mins x 300 clients = 12,000 mins or, 200 hours

200 hours x 8 services = 1,600 hours

An accountant might earn £20 per hour (assuming the London based accountant is on £45k salary). 1,600 hours x £20 per hour = £32,000.

This is a little misleading because some services like Payroll are done monthly and others are done annually like Statutory Accounts but it’s a good starting point. If anything it would be higher.

This means if we can reduce the time chasing clients from 40mins to 10 mins by using automation to request the information then we might be able to make significant savings in time and money because the time would go down to 400 hours. The cost of those 400 hours would be £8,000.

So we might be able to save the firm in this example £24,000 (£32,000 – £8,000).

I help them find and roll out these kinds of “efficiencies” to get more profitable and save time.

How does my consulting business work

Now, let’s take a look at how I find these clients and manage the process. I was going to say “there is more going on behind the scenes” but to be honest, this is pretty much it…

Acquisition

Let’s start with how I get clients. The main “channels” are:

Referrals: Most of my clients are referrals. This is where someone has worked with me in the past or, wants me to help their client roll out the software / manage an implementation.

Outbound emails: I look for firms online and email the leaders of the business asking if “saving money” or “streamlining delivery” would be useful.

If it sounds like they have issues I can help with, we’ll start a brief sales process.

Offers

When someone is interested in working with me, I typically pitch them one of 3 things unless they have come to me for something specific anyway. The offers typically fall into 1 of the following 3:

Sent number of live training / guidance calls, on something very specific (how to use and setup x part of y software)
Implementation package, this where I will train them on how to manage parts of a software while doing some of the setup for them
Rolling out of larger projects, this is where I will analyse the business, make recommendations and then roll those out. These projects take over a year and I would agree to work x days a week (I hardly ever do this post covid, being prevented from working on site during covid then wanting to work remotely meant I have no longer been interested in this kind of work because it largely has to be done in person)

The pricing around these is pretty much set. I don’t really negotiate and the price is stated pretty early on in the conversations.

Package 1: 4 consulting calls at £X
Package 2: Full Implementation £Y
Custom Project: X Days a per week Y weeks, Daily Rate (Minimum of half day)

There are a few people who have access to my calendar, they book in a call and I send the invoice shortly after. I am looking to set this up in lnks.to where they will fill in a form & pay, then that gives them access to the calendly link.

Delivery

Typically, the process of working with me looks like this, regardless of the package:

We make contact, I add the contact to a contact “follow up list” in my CRM (lnks.to)
We book in a call to discuss what the client needs and if I can help (You will often hear me describe this as a Discovery Call) (Calendly > Google Calendar > Zoom + Slides) if there is a fit, I will create an Opportunity in lnks.to to track them through the sales & delivery process)
Propose process & agree timeline (Email or Zoom call followed up by email, update opportunity dashboard)
First payment (Invoice via Zero or lnks.to product page) & Opportunity moved to “delivery steps” in lnks.to)
Live calls, follow up actions (Zoom call, follow up Emails with Google Sheet worksheets / PDFs, Loom videos)
Monthly invoicing (Xero)
Handover any final deliverables (Zoom call, follow up Emails with Google Sheet worksheets / PDFs, Loom videos)

Toolkit

lnks.to I have the CRM side of the business in here and I have one or two freebies on this page
Karbon
Xero
Laptop / iPad / iPhone
Loom
Zoom
Calendly
Excel / Google Sheets

In conclusion, it’s probably not the sexist business setup you have ever seen but, it allows me to keep things really streamlined to fit my Ideal Average Day. The main benefits are:

I dictate my hours – clients can book calls regardless of which package works for them but, the hours they can book within are limited in my calendly. For example, I don’t take calls before 10am.

I am location independent – I can run this from anywhere in the world with an internet connection, I just need a laptop or iPad. I will be taking calls while here in Dubai & I have been managing clients from New York, (I blocked my calendar while in Michigan with family), Oslo, Cape Town, London, Lisbon, Brussels…

Easy to manage: Because I track things through a specific funnel and delivery process, I can jump onto anyone one of these calls and know where I am at / what I need to share.

Robust: if any of my devices fail, I can literally buy a new laptop or iPad that day and be up and running within the hour.

It’s taken a lot of experimenting to get here and while it’s simple to me, I get it will be new or sophisticated to many others. That being said, I think it’s possible for many people. Many of you reading this will be familiar with many of the tools I have described (or their competitors). It’s just I have put them together in a particular order around specific packages that I offer. I would encourage you to do something similar. Even if you don’t want to travel while working, knowing you aren’t reliant on one employer for your income and the freedom to control your time during “office hours” is invaluable in my opinion.

If you are interested in learning how you can leverage your knowledge and experience to do something similar, I have created a detailed guide called Remote Revenue, which you can get – here.

lnks.to overview

Posted on October 17, 2024 | by Peter

Here is an overview of lnks.to – the app I am building to help creators, coaches and consultants make more sales…

The Case for a Stripped-Back CRM: Why Simplicity Wins for Solopreneurs

Posted on October 17, 2024 | by Peter

Recently, I was asked for my opinion on a particular CRM system. After reviewing it at an event and watching some videos, I couldn’t help but think that it looked impressive on the surface. However, based on my experiences, I couldn’t shake the feeling that it doubled down on the least valuable aspects of what a CRM should offer—especially for solopreneurs and small business owners.

The Problem with Overloaded CRM Systems

Many modern CRM systems seem to be designed by tech people for tech people, packed with automation features, integrations, and complex data enrichment tools. While this may sound appealing, in my experience, these features rarely drive meaningful business outcomes.

Take, for example, my time working at a company where we paid tens of thousands of dollars per month for a data enrichment add-on. It looked cool, but it made zero impact on booking calls and closing deals. The reality was that these tools often added complexity rather than value, creating the illusion of productivity without moving the needle on actual sales.

What Really Matters in Sales?

From my perspective, there are four key factors that genuinely drive sales growth:

1. Product-Market Fit: If your product or service doesn’t solve a real problem, no CRM feature will fix that.
2. Relationship with the Customer: The quality of the relationship you build with potential customers often outweighs any data enrichment tool.
3. Frequency of Engagement: Regular, meaningful engagement is critical for staying top-of-mind and moving deals forward.
4. Understanding the Customer and the Product: Deep knowledge of the customer’s needs and how your product addresses them is essential for closing deals.

The Beauty of a Simple Setup

I’ve seen people build multi-million-dollar businesses using a very lean setup. For example, a guy I learned from used a combination of Google Docs, a lightweight CRM, Zoom, and a few basic tools like email validators and LinkedIn automation. What set them apart was their relentless focus on follow-up & outreach. They followed up more frequently than anyone else I’ve come across, and that consistency paid off.

Lessons from Previous Roles

During my time working in customer success & sales related roles, our sales process was remarkably simple, yet effective. The successful teams tracked two primary metrics:

1. Meetings Booked
2. Cash Collected

The goal was always straightforward: do more outreach to qualified leads, get them on calls, and collect the cash. It wasn’t about sophisticated dashboards or multi-layered integrations. We generated hundreds of thousands of dollars within a few months using this no-nonsense approach before I was eventually made redundant.

Why lnks.to Fits the Lean CRM Philosophy

For solopreneurs, creators, and coaches, using a stripped-back CRM like lnks.to aligns perfectly with this lean approach to sales. Here’s why:

• Simplicity: lnks.to offers the essential features you need to manage your contacts, follow up, and close deals without overwhelming you with unnecessary tools. It’s also expecting your users to come in via social media so its optimised for creating really simple funnels that help you keep leads organised from as soon as they sign up for their first lead magnet.

• Mobility: You can manage your sales pipeline from your iPhone, tablet, or laptop, making it easy to stay on top of your outreach and follow-ups no matter where you are.

• Focus on What Matters: lnks.to helps you prioritize warm leads and automate follow-ups, keeping you focused on activities that actually drive revenue.

Conclusion

The bottom line is that, as a solopreneur or small business owner, you don’t need a complex CRM to drive sales.

What you need is a system that allows you to track the basics—meetings booked and cash collected—while focusing on building relationships and understanding your customers. lnks.to provides the stripped-back functionality that helps you do just that, making it easier to run an effective sales process without the distractions.

If you’re interested in seeing the approach I took with building lnks.to’s CRM features, you can check it the lesson in our onboarding course.

Restarting

Posted on April 7, 2024 | by Peter

Just over a year ago, I found myself at a crossroads.

After years of building my career, becoming the head of customer success for EMEA at a VC-backed startup, and earning a salary that many would dream of, I faced redundancy. Yes, the security and comfort of my $100,000 job vanished overnight. But what seemed like an end was just the beginning.

For years, my goal was to start my own online business. A dream I put on hold for the security of a 9-5. But with the unexpected turn of events, I decided it was now or never. I wasn’t just going to find another job; I was going to create a life that aligned with my deepest aspirations.

Last year, I made a choice that would set the tone for my new life: I didn’t renew my lease. I packed my life into a suitcase and embarked on a journey that has taken me from the streets of New York to the landscapes of Cape Town, from the historic city of Prague back to my roots in London. Over 7 flights later, my life is a testament to the freedom I always craved.

My background in operations and marketing isn’t going to be a line on my resume; it’s going to be the foundation of my new venture. I’ve helped companies grow, from scaling an accounting firm in London from 5 to 50 people to aiding a DEI consultant in skyrocketing from £0 to over $100k in sales within just three months.

Drawing from my journey and the skills, I’m creating lnks.to, a platform designed to empower creators to monetize their followers. Whether it’s through selling courses, ebooks, or services, lnks.to is about making the path to financial freedom accessible for creators worldwide.

But I’m not stopping there. I’m on a mission to equip creators with the knowledge to thrive. From courses on monetization strategies to a course for those at a loss for what to sell, I’m laying down the blueprint for success that I wished I had when I started.

If my journey resonates with you, follow me on Instagram and leave a comment below – I’d like you to join me as I figure things out and share along the way.

How creators make money & how easy it is to make your first $1,000 with each method

Posted on April 7, 2024 | by Peter

If you’ve been struggling to figure out how to make money as a micro-influencer, you’re in the right place. Outsiders might assume that having a big following automatically means money flows in, but the truth is, making money online involves more than just posting great content. Content creation is a skill in itself, but making sales takes a different skill set.

In this post, I’ll walk you through the most common ways creators are making money, and I’ll even break down the pros and cons of each. Plus, I’ll share my favorite approach for those aiming to make their first $1,000 online.

Choose Your Path: What Are the Options?

Different business models come with different lifestyles, income potential, and work involved. Let’s look at the main ways creators make money:

1. Affiliate Links

Affiliate links are a popular starting point because they’re easy to set up. You join an affiliate program (Amazon, ASOS, etc.), get a special link, and earn a small commission when people buy through your link.

Pros: Easy to get started, no inventory or customer service needed.

Cons: It’s tough to make serious money unless you’re sending a LOT of people to the site. For example, if you promote a $10 gadget with a 5% commission, you make only 50 cents per sale. To earn $1,000, you’d need to generate 2,000 sales—a challenge for most micro-influencers.

2. eCommerce

If you’d rather sell your own products, eCommerce can be a great option. Platforms like Shopify make it easy to set up an online store. This model works well if you have a niche audience—let’s say your followers are really into stationery, and you decide to sell custom pens.

Pros: You control the product and pricing, and content creation is your strength, so you have an edge in marketing.

Cons: You’ll need to handle inventory, shipping, and customer service. And let’s not forget returns—it’s all on you. Plus, if you’re reselling a $20 product for $50, the profit margin may not be as high after costs. If each item costs you $20, you’d need to sell 25 items to make a profit after expenses, which isn’t as simple as it sounds.

3. Content Creation as a Service

Since your followers already love your content, you have a skill that’s valuable to brands. Here’s how you can turn content creation into a business:

Sponsored Posts: Brands pay you to promote their products on your platform. You reach out, pitch how your content can bring them sales, and agree on a fee. The trick is finding the right brands and proving you can help them reach new customers.

•Pros: Higher earning potential; one good deal can net you $1,000.

•Cons: It takes time to find and close deals. Brands might take a while to pay, and you’ll need to clearly disclose these posts as ads.

UGC (User-Generated Content): This is like sponsored posts, but brands may not require you to post on your own feed. Instead, they use your content in their own social media or ads. Brands are often looking for content that feels more “authentic,” and micro-influencers can charge $200-$300 per project.

•Pros: Easier to land deals, even with smaller brands.

•Cons: You’ll need multiple deals to hit $1,000, and some brands may pay late.

4. Selling Services

If you want to use your social media skills to help other businesses, you could offer services like social media management or consulting.

Social Media Management: Here, you’re handling the day-to-day content, messaging, and strategy for a brand.

•Pros: Monthly retainers provide steady income, and clients often stick around for several months.

•Cons: This can be time-consuming, with client demands that you can’t just ignore without risking the relationship.

Consulting and Coaching: For those comfortable working directly with brands, consulting on strategy or content creation can bring in substantial revenue.

•Pros: High earning potential.

•Cons: Requires more hands-on work, and projects can drag on longer than expected.

5. Digital Products (My Favorite Option)

Digital products are hands-down my favorite option. They include ebooks, courses, templates, and planners. They’re popular because they can be sold over and over with no extra work beyond initial creation.

Why Digital Products are great:

•Scalability: Create it once, sell it forever.

•Flexibility: No need for shipping or returns; you control everything.

•Uniqueness: If you create something valuable, you stand out from others and establish yourself as an expert.

Types of Digital Products

Unique Products: Content you create from scratch, tailored to your audience. This is the best option if you want total control.

Master Resale Rights (MRR): You can buy products created by others and resell them. While it’s easy to start, you might compete with other sellers offering the same product, and prices can be fixed by the product creator.

Private Label Rights (PLR): Think of PLR as a template you can customize for your audience. You get a ready-made structure that you can adapt and sell as your own.

Why Digital Products Are Worth It

With digital products, you’re not just aiming for $1,000; you’re setting yourself up for recurring income. Once you create a product, you don’t need to worry about stock, shipping, or fulfillment. This makes it perfect for creators who want to maximize income while focusing on other things (like creating more content!).

Ready to Make Your First $1,000?

Each business model has its own upsides and challenges. Affiliate links, services, and eCommerce have potential, but if scalability and flexibility are what you’re after, digital products could be your best bet.

The most important thing is to start. Most people look back and wish they’d started sooner. So, if you want to make your first $1,000 and start building a sustainable business, dive in! And if you’re interested in guidance, I’m here to help.

I hope this gives you a clear roadmap to start monetizing your influence. Go out there, try a model that resonates with you, and take that first step toward building a profitable, sustainable online business!

How to find your target market online & make contact

Posted on February 8, 2020 | by Peter | Leave a Comment

For those of you who have no idea on how to find people to speak to about your product, but you’ve got some idea of who the persona is, you’re going to find this really powerful. I am going to show you one of the ways I find my personas online and how to reach out to them, for free.

Using this method you should be able to come up with a few hundred people to contact who you should be confident are interested in the problem you’re trying to solve. I’ll also show you a couple of tools I use to automate a few of the steps…

Links featured in the video

How to map out your Ideal Average Day

Posted on February 4, 2020 | by Peter | Leave a Comment

Having a clear understanding of what you want from your business once it’s up and running, particularly while it’s growing is crucial. Over the years I have constantly met founders who have started businesses that require them to spend their days in a routine that they hate. This isn’t only important from the perspective of knowing that you need to keep working in hard times, but also important when you consider that if things go well, you will need to keep doing the things you hate for the business to sustain, talk less of growing.

I want to be clear, all businesses will include aspects that you won’t enjoy. You might be an introvert, but you’ll have to sell. You might like human interaction but will have to spend countless hours doing admin and accounts for years to come. I believe you can automate and outsource everything (let’s face it, many of the Johnson & Johnson family can’t do any of the jobs in their business so they pay others to do the work), that being said, you are probably intending on building a single or portfolio of micro-digital businesses. If this is a case, you will have to do much of the work yourself, at least at the beginning.

Think about it, if you want to travel the world with minimal resources, is it wise to start a service business that requires your customers to visit a well resourced location? For example, if you start a Printing company, you probably need to have expensive machinery on site, with skilled staff to use it. While this blog is about digital businesses, some businesses come with less than obvious requirements. Are you willing to build software and talk to customers to drive sales and manage support? …for many of you, I’d imagine you’d wand to build one of these businesses so you can cut down on talking with customers.

With this in mind, it’s worth mapping out your ideal average day which you can then use to guide you in forming a criteria for your ideal project. If you haven’t created an ideal average day, I would suggest you do this first.

Mapping out your ideal average day

I can’t remember where I learned of this idea, but it’s one of the most valuable ideas I have come across.

It’s simple, all you have to do is sit back and list all of the things you would do on an average day if your life was exactly where you’d want it to be.

Remember, this isn’t “What I will buy once I am rich”, this is not about a one off event. This is about building a routine that would be great for you and your business. For example, it sounds weird, but when I built my first totally automated business, it never occurred to me just how much free time I would have and that I couldn’t fill it by spending time with my friends because they were at work. It sounds stupid, but it genuinely never occurred to me and turned out to be a massive issue for me. Not to mention the coutless founders I have met who realised that they hate running teams, but it’s too late once they have taken on Venture Capital, so I encourage everyone to start here on their entrepreneurial journey.

Be as detailed as possible

The aim with this project is to be as detailed as possible. All of the things you will need to build and exclude from your life will be affected by this this vision. The more detail you have, the easier it becomes to make decisions. If you know that your ideal average day starts off by watching the sunrise over the sea before you go surfing, you probably can’t live in London.

Be selfish & honest

Answer them for yourself, not what others (friends or your wider community), would want you to say. This is for you and you alone. While I have shared mine with others, I am not encouraging you to do so. This is a personal document for personal use, so don’t feel worried or concerned by the idea that others my stumble across it at this point.

Being honest is key to this. For example, if you don’t want to spend your time helping sick children or animals, that’s totally fine. Your contribution to society can come from other things (ideally, one being your business, but more on this later.)

Right now, all you have to do is create a limitless list of fun and engaging experiences tailored to you.

How to get started

Getting started can be a little tricky, most people have never been asked this question so might defalut to a shopping list influenced by GQ or a celebrity Instagram. That’s fine, start there if it works for you, you can tailor the list to you over time. Costs should not be considered and nothing is too crazy at this point.

Personally, I have found opening a notebook or blank page in your notes app / journal, then answering the following questions, being a great place for myself and others to be a great place to start:

What would you like to see as soon as you wake up?
Who would you like to wake up to?
What do you value?
What do you value most in a partner?
How do you want to feel when you wake up?
Who would you like to work with?
What verity of things would you like to do in your working day?
Where would you be geographically ?
How would your partner fit into the routine?
How would your friends & family fit into your routine?
What do you value most with regards to friends and family?
How much would it cost to live where you want to live?
How would your hobbies fit into your routine?
What would you enjoy spending money on?
How would your income generation fit into your routine?
What kinds of customers do you want to support?
How will you be aware of external changes that might influence your business?
How much time / resources are you expecting your business to need from you personally?
What skillsets would a team you can rely on to run your business, need?

Turn the list into a first hand account

Once you’ve got the list above answered, you should write out your Ideal Average Day as though it’s a first hand account being told as a matter of fact to someone.

Ideally, you want to have a one pager that talks through your ideal average day in such a way that a stranger would picture it as a movie scene in their mind as you go through each sentence:

I typically start my day getting waking up late, like 9am to my wife. We like to sleep in and for the sun to be beaming down on us through the large windows, before we get out of bed. It’s refreshing to see the light bounce off the floor onto the high ceiling.

After a hot shower, I normally head downstairs to have a cooked breakfast with the whole family including the dogs…

While fitting it onto a single page is ideal, don’t sacrifice detail for this ascetic. Just know it needs to be more than a paragraph about how much you like travelling.

Get that added level of clarity

For an added level of clarity, running each of your answers to the above while asking yourself the following is important:

Is this something I truly want or something that others want?
- Why do I want this? How would it make me feel?
- Was I too scared to say what I really wanted?
- Am I aware of all of the options I could be choosing from for better or worse?
Is this a healthy and engaging routine to maintain over long periods of time?
- …would people who you respect agree?

I believe this is a key part of the exercise because many people realise key things that aren’t obvious on day one. For example, I realised that I value my time and, the freedom to explore / learn very above almost anything else, but I would hate the digital nomad lifestyle. I would hate it because I value having a tight connection to a small group of people more than meeting new people and discovering new cultures. So, I highly recommend not skipping this step.

Review your one-pager and highlight key aspects

The next step is to review all of the things in your one pager. Go back and think about the implications of each sentence. For example…

I typically start my day getting waking up late, like 9am to my wife.

This single line suggests multiple things…

You can’t have a job that needs you to be on site by 9am, away from your wife
You’re not going to be in traffic or, answering Customer Service Emails at 6am
You need a wife …or a husband, maybe just a long term partner
You need a room, potentially in a house with a bed in it – do you need to own the house?
If you are waking up in a large room with high ceilings in a major city you might need a significant income
You need work out how to make a significant income without working 9am – 5pm

Now, ask yourself – does this all add up?

Once this your Ideal Average Day is documented, every time you look at a business opportunity, one of the first things you should do is, evaluate how running the business will develop or take away from your ideal average day and, for how long.

First, you should know that this is an on-going process. What you might want today could change in a month or year from now, that’s totally fine. You should use this exercise to understand what you really want, it’s not for any other purpose so if what you want changes, change your description of your IAD.

This is part of setting clear goals.

Doing this will help you set clear goals that will resonate with you and help you to create goals and objectives which you’ll hold yourself accountable to.

Now for actually putting pen to paper…

At a high-level, the process of creating your ideal average day should look something like:

Brainstorm
- Open up a notebook or a new word document on your computer
- Simply write down all of the things you enjoy. At this point it’s just a brain dump of all the things you’d like to own, achieve or experience.
Map out the day
1. Next, create a table on another page or in Excel with 2 columns; ‘Time’ and ‘Activity’
2. Divide the rows into hour increments in the first column starting with 5 am until you have a full day mapped out
3. Add the ideas noted in your brainstorm into the hours
Create a narrative
1. Turn the time-table into a description of your day

Tips for brainstorming

What would you like to do during the day while your friends are at work?
What kind of room would you wake up in?
Who would you wake up next to?
Will you have kids? Where would they be?
What kind of income would be needed to maintain your lifestyle?
Where would you like to live?
What kind of home would you live in? Apartment in the city or house in the country? Both?
Who would you live with?
What would your partner enjoy doing daily?
What do you value? Personal connections, time, money…? how can you factor these in?

Thoughts on mapping out your day

At this point, you’re trying to see how things would fit into the day. Equally you could be doing this for the week. Maybe you’d be at work during the week and with your family evenings and weekends.

Next you should break down your ideal average day into prioritised objectives with timelines.

My Ideal Average Day

Posted on February 4, 2020 | by Peter | Leave a Comment

In line with the Ideal Average Day exercise, here’s mine…

I wake up at 6am to my beautiful girlfriend feeling well rested. We’d start the day by having sex or working out, followed by a breakfast.

Our breakfast would consist of fresh fruit or scrambled eggs & toast. With ice cold water and juices. We’ll eat by a large window over looking the city, while smiling and talking about what we want to do with the day.

While my girlfriend is in the large shower, I typically check on my ventures by reviewing dashboards. My dashboards give me a birds-eye view of my projects’ metrics. I typically focus on the acquisition, retention, and cashflow. This gives me some indication of where I need to focus and what my next moves are.

At this point, Journal then, dive into messages from; family, friends, clients and, the guys that I work with. I’ll be getting updates on business projects, sales recently closed, Investment opportunities, marketing opportunities, adventures and events that we’re all excited about. I will also be confirming sales and checking in on happy customers. I normally round up by pinging a few things to our assistant like booking flights, and booking some time with my mentee.

When my girlfriend is done in the shower and getting dressed, I normally jump in the shower while she checks on her business.

Once I’m out of the shower, we’ll chat about the dogs, flying out to London / NY, parties and dinners, while I am getting dressed and we’re making our way down 20 plus floors. While selecting between our vintage cars and the S Class, we are greeted by friends and staff before we leave the building.

Once in the car, we head to one of the popular shopping districts to pick up some things for our friends and ourselves. We’d both have our laptops / iPads on us, so after shopping and a light lunch at one of the best restaurants in the city. We often have lunch with business partners and clients too. After which, we’d separate to go and get some stuff done from our work spaces.

I mostly work in a beautiful shared office in Manhattan or Canary Wharf. They are great places to getting work done, bouncing ideas off the guys and, meeting clients. I enjoy my work; closing deals; adding value by rolling out new features; optimising marketing strategies and, building my portfolio. I get paid well because I add massive value to the other businesses.

Wrapping up the work day, I typically respond to messages on the way home. These will be confirmations from our assistant; tattoos, flights, sales closed, funny things from the family / friends and anyone I want to see before I fly out.

Once back, I freshen up then change into a casual suit while my misses gets ready and we head out to dinner with friends. The dinner is held at a friends house or one of the best restaurants in town. The evening is filled with laughter and ends with a starlit walk home on a warm summer’s evening. If it’s cold out, I’ll book an UberLux.