Leveling Up with Eric Siu

Are you looking to transform your eCommerce growth? Want to increase the efficiency, profitability, and value of your company? Today’s episode is for you! We are super excited to bring Trent Dyrsmid to the podcast today. He is the Founder and CEO of Flowster, which is a software company for eCommerce entrepreneurs to improve workflow automation through the creation and use of standard operating procedures. Through the use of their software, you can optimize execution through standard operating procedures, which are the lifeblood of today’s most successful organizations. If implemented effectively, they ensure every business process is executed exactly the same way, every time. They also improve accountability through an audit trail providing you with transparency into every aspect of your employees’ work. Teamwork is dreamwork, and by using this software, companies are able to allow team members to easily assign each other tasks, give due dates, upload files, and add comments to the work they've done — keeping everyone in the loop and your business running at peak efficiency. During today’s episode we talk to Trent more about Flowster, his journey from the beginning to where he is now, he shares his favorite automation tool, and so much more, so stay tuned and enjoy!

TIME-STAMPED SHOW NOTES:

• [00:41] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!
• [00:35] How things are going with Trent and what he is up to.
• [01:13] Trent shares more about his first business, what it was, and how that lead to where he is today. 
• [04:18] More about the process of how he started to develop his standard operating procedure.
• [05:50] Trent talks numbers on his first company.
• [07:00] Trent elaborates about Flowster, creating processes in a digital, interactive checklist.
• [08:15] Why he decided to market to e-commerce customers. 
• [09:15] What the Flowster software offers — facilitating the process of delegation and more.
• [10:15] Trent walks us through an example of how the software functions and what the “magic button” entails. 
• [11:55] How many customers they have and we talk about the different pricing of their services.
• [15:00] Trent talks about his podcast and the value it’s given to him. 
• [16:22] He shares his favorite tool: Automation Zapier and his favorite Zap.
• [16:54] His favorite book: The E-Myth by Michael Gerber.
• [17:27] Where to find more about Trent and his business.

Resources From The Interview:

• Trent Dyrsmid on LinkedIn
• Flowster
• Zapier
• The Bright Ideas Brand

• Must read book: The E-Myth

Leave Some Feedback:

• What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.

• Did you enjoy this episode? If so, please leave a short review here

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Connect with Eric Siu: 

• Growth Everywhere

• Single Grain

• Eric Siu on Twitter

Today on the show we are looking at Keith Rabois' philosophy of ammunition and barrels! This is a way to look at the members of your team and who you choose to hire. Keith unpacks how these two different types of team members will serve you in certain ways — it is up to you to make the most of specific skills as well as hiring smartly. Tune in to learn more about the ammunition and barrels metaphor!

TIME-STAMPED SHOW NOTES:

• [00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!
• [00:40] Focussing on the team first and then the product that you are building.
• [01:31] The best people will give you most leverage! 
• [02:11] When you make a subpar hire, you bring down the quality of your company.
• [02:29] Hiring processes and company culture; fostering the best team possible. 
• [02:48] The two categories of high quality hires; ammunition and barrels.
• [03:52] The mindsets that will serve you and your company and lead to success.
• [04:52] Finding a way through challenges by hiring the right people!

Resources From The Interview:

• Leveling Up

• Square
• PayPal
• Keith Rabois 
• OBS

Leave Some Feedback:

• What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.

• Did you enjoy this episode? If so, please leave a short review here

• Subscribe to Leveling Up on iTunes

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Connect with Eric Siu: 

• Growth Everywhere

• Single Grain

• Eric Siu on Twitter

Today on Leveling Up Daily, we get to look at stocks and some examples of good options to buy and hold. We hear about Eric's thoughts on a number of popular companies as well as why certain fields are worth considering. Eric explains why investing in stocks is not for a quick buck and the minimum period he is looking at is five years. Tune in to hear about Tesla, Amazon, Shopify, Teladoc and much more!

TIME-STAMPED SHOW NOTES:

• [00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!
• [00:25] How Eric's ideas around stocks have evolved over time.
• [02:31] Why Tesla is a popular choice for so many investors.
• [04:42] The message that we can take from Peloton's monthly churn rate.
• [07:31] What the dominance of Amazon teaches us about investing in Shopify. 
• [08:01] Eric's trust in Amazon and gold stocks. 
• [08:53] The positive impacts of Zoom's functionality and popularity.
• [09:14] The rise of telemedicine and why Eric believes in Teladoc.
• [09:40] Twilio, internet infrastructure, and recurring revenue.
• [10:21] Looking at Square, from the reliable founding powers of Jack Dorsey. 
• [11:36] CRISPR and the future of the gene editing field!
• [12:02] The availability of genetic information through Invitae.
• [13:29] Buy and hold strategies for crypto and specifically Bitcoin.

Resources From The Interview:

• Leveling Up

• Warren Buffett
• Charlie Munger 
• Tesla
• Robinhood
• Elon Musk
• SpaceX
• SolarCity
• Peloton
• LuluLemon
• Beyonce
• Shopify 
• Jeff Bezos 
• Zoom
• Eric Huang 
• Glassdoor 
• Teladoc 
• Twilio
• Square
• Jack Dorsey 
• Peter Diamandis
• Invitae
• Berkshire Hathaway

Leave Some Feedback:

• What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.

• Did you enjoy this episode? If so, please leave a short review here

• Subscribe to Leveling Up on iTunes

• Get the non-iTunes RSS Feed

Connect with Eric Siu: 

• Growth Everywhere

• Single Grain

• Eric Siu on Twitter

Welcome back to Leveling Up Daily! Today Eric talks about how his other podcast, Marketing School, which he co-hosts with Neil Patel, will bring in more than $5 million annually! Listeners can expect a breakdown of the revenue streams, the adjustments that have been made over the past four years, and also some reminders of the time it takes to get to this point. At the end of the day, podcasting remains a potentially lucrative use of your time, so give this episode a listen to learn more!

TIME-STAMPED SHOW NOTES:

• [00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!
• [00:25] An introduction to the Marketing School Podcast that Eric hosts with Neil Patel.
• [01:22] The revenue breakdown from Marketing School!
• [02:22] The membership program that Eric and Neil are currently rolling out.
• [03:01] The payment tiers that are currently offered for the community. 
• [04:14] It takes time to build a foundation that you can cash in on.

Resources From The Interview:

• Leveling Up

• Marketing School Podcast
• Neil Patel
• Dreamhost 

Leave Some Feedback:

• What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.

• Did you enjoy this episode? If so, please leave a short review here

• Subscribe to Leveling Up on iTunes

• Get the non-iTunes RSS Feed

Connect with Eric Siu: 

• Growth Everywhere

• Single Grain

• Eric Siu on Twitter

How to REALLY Determine How Many Unique Podcast Listeners You Have

Knowing the numbers about how of your downloads are listeners can help you get a more accurate figure about how well your subscription model will do. Tune in to learn how to get better analytics and some figures around how many listeners you can expect to convert.  

TIME-STAMPED SHOW NOTES:

• [00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!
• [00:25] Podcast analytics using Spotify, Apple, Chartable, and Slack.
• [01:24] Standards set by the IAB about what counts as a download.
• [03:11] Only around 25% of your downloads are listeners.
• [03:26] The percentage of unique listeners that convert to subscriptions.
• [04:26] The importance of knowing the numbers for attempting a subscription model.

Resources From The Interview:

• Chartable
• Slack
• IAB
• Marketing School Pro
• Supercast

Leave Some Feedback:

• What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.

• Did you enjoy this episode? If so, please leave a short review here

• Subscribe to Leveling Up on iTunes

• Get the non-iTunes RSS Feed

Connect with Eric Siu: 

• Growth Everywhere

• Single Grain

• Eric Siu on Twitter

The Rise of Subscription Memberships – OnlyFans, Substack, Patreon, and More

If you are a content creator of any kind, you can make an amazing living through your audience, and there are platforms out there that will help you build one. In this episode, we cover some of the main platforms that allow creators to reach their audiences and some metrics that will show you what percentage of your audience you can expect to convert into dollars. Tune in today.

TIME-STAMPED SHOW NOTES:

• [00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!
• [00:40] The different services and users of OnlyFans, Substack, and Patreon.
• [01:18] Examples of other platforms using a subscription model.
• [01:34] Percentages of listeners that convert to memberships.
• [02:14] What to offer in a membership and how much money can be made.
• [04:10] Other ways to leverage an audience you have built.
• [04:24] Going solo after leveraging platforms you have to give a cut to.

Resources From The Interview:

• OnlyFans
• Substack
• Patreon
• TechCrunch
• The Verge
• Memberful
• MemberPress
• Supercast
• Farnam Street
• Sam Harris

Leave Some Feedback:

• What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.

• Did you enjoy this episode? If so, please leave a short review here

• Subscribe to Leveling Up on iTunes

• Get the non-iTunes RSS Feed

Connect with Eric Siu: 

• Growth Everywhere

• Single Grain

• Eric Siu on Twitter

Your Business Will Fail If You Don’t Choose This Correctly  

Today we are going to talk about why your business model matters a lot. Different business  models exist and some require a lot more resources compared to the revenue they generate  than others. Tune in today and learn about which business models offer exponential growth, and  how to switch to a better model once you see a ceiling in the last.  

TIME-STAMPED SHOW NOTES:  

• [00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling  Up Podcast!  
• [00:26] Examples of different business models; retainers, time for dollars, and more.  [01:02] Eric’s plan for how to change Single Grain’s model after he took over. [01:44] Business models that help you make money in your sleep. 
• [02:31] Why the agency model using a retainer is a bad idea. 
• [03:05] Scaling up into ever more exponential sources of cash. 
• [04:18] The importance of having a lucrative business model.  

Resources From The Interview:  

• Naval Ravikant
• Andrew Wilkinson

Leave Some Feedback: 

• What should I talk about next? Who should I interview? Please let me know on Twitter or in  the comments below.  
• Did you enjoy this episode? If so, please leave a short review here 
• Subscribe to Leveling Up on iTunes 
• Get the non-iTunes RSS Feed 

Connect with Eric Siu:  

• Growth Everywhere 
• Single Grain 
• Eric Siu on Twitter 

Sports are well-known for their strong support and sense of community, so leveraging this power virtually makes sense. Today's guest, Nigel Eccles, is the co-founder and CEO of Flick, a live group chat platform for sports influencers and their fans. Previously, he founded FanDuel and has worked in sports and the sports betting space for over 20 years. In this episode, Nigel reflects on his journey as a founder and what it was like building FanDuel. He gives us insights into fundraising, how they managed to do a pivot from their previous platform, Hubdub, and got funders to stay. We then move onto Flick, learning more about how it works and why there was an impetus to start it. A key piece of success in the space are communities and how sticky they are. Nigel sheds light on some of the difficulties that come with online communities and the importance of creating spaces where people want to hang out. Having founded several companies now, Nigel shares why the only advice applicable to every single startup is to deeply understand the customer and their needs. We wrap the conversation up with hearing about managing growth, why Peloton has been the best tool Nigel has added to his life in the last year, and where you can go if you want to learn more about sports cards and betting. Tune in today!

TIME-STAMPED SHOW NOTES:

• [00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!
• [01:09] Nigel’s background and how it led him to work in sports and sports betting.
• [02:00] Hear about some of the hurdles that came with starting FanDuel.
• [03:40] Dealing with the stress of being a founder; how Nigel has navigated his way through.
• [05:48] Why Nigel feels it is increasingly hard to build solid small businesses.
• [06:45] What FanDuel was like when they were at Series A funding.
• [07:45] How Nigel convinced funders that it was necessary to make a pivot, leading to FanDuel.
• [09:12] The value of spending time with other entrepreneurs and the lessons you will learn.
• [10:15] Hear about Flick, its business model, and how they make money.
• [11:25] Flick’s numbers, including users, and how the company measures performance.
• [12:25] Insights into online communities; challenges, influencing experience, and retention.
• [15:30] There is no silver bullet for what it takes to make a startup successful.
• [15:37] The only universal piece of startup advice: Be obsessed with your customer!
• [16:53] Flick’s customer development framework and the blended approach they take.
• [18:50] How fundraising for Flick differed from FanDuel.
• [20:21] What drew Nigel to start StarStock, a marketplace for sports cards buyers and sellers.
• [22:07] Why Nigel doesn’t have a grand vision and just focuses on working with people he likes.
• [23:10] Hear why Nigel decided to leave FanDuel and the move to sell the company.
• [24:15] The staff challenges that come with hypergrowth; what Nigel has learned along the way.
• [27:23] Resources if you want to learn more about sports cards and sports betting.
• [29:19] How Peloton has exceeded Nigel’s already high expectations.
• [29:58] Hear some of Nigel’s must read business books.

Resources From The Interview:

• Nigel Eccles on LinkedIn
• Nigel Eccles on Twitter
• Flick
• FanDuel
• Tony Hsieh
• Crunchbase
• Ev Williams
• Lesley Eccles on Twitter
• Relish
• Andreessen Horowitz
• LeBron James
• StarStock
• Ooni
• Flutter Entertainment
• Y Combinator
• Seedcamp
• ‎Heros For Sale Podcast
• ‎Stacking Slabs
• ‎House of Jordans
• Discord
• Peloton
• The Queen's Gambit
• Must-read book: Zero to One, The Lean Startup, What You Do Is Who You Are

Leave Some Feedback:

• What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.
• Did you enjoy this episode? If so, please leave a short review here
• Subscribe to Leveling Up on iTunes
• Get the non-iTunes RSS Feed

Connect with Eric Siu: 

• Growth Everywhere
• Single Grain
• Eric Siu on Twitter

YouTubers like MrBeast and Airrack enjoy colossal follower and view counts, but there are key steps they follow as to how they produce and advertise their content. In this episode, you will learn about the value of the ideation side of content creation, the key role of good titles and thumbnails, and a whole lot more!

TIME-STAMPED SHOW NOTES:

[00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!

[00:40] Some big YouTubers and the techniques they use to attract followers.

[01:21] For MrBeast, the most important thing is daily ideation.

[02:45] Airrack says that the title and the thumbnail are more important than the video.

[03:25] The types of metrics that large YouTubers look for.

Resources From The Interview:

• MrBeast
• Airrack
• Dan Bilzerian
• Ogilvy

Leave Some Feedback:

• What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.
• Did you enjoy this episode? If so, please leave a short review here
• Subscribe to Leveling Up on iTunes
• Get the non-iTunes RSS Feed

Connect with Eric Siu: 

• Growth Everywhere
• Single Grain
• Eric Siu on Twitter

If you build an audience and continue to stay consistent with the value you provide them and the way you leverage it, the results will begin to snowball over time. Tune in to this episode and hear about the rise of paid newsletters, as well as how to build and provide value to your audience. You’ll also learn some ways to leverage your audience and some figures about how much you can expect to make per year!

TIME-STAMPED SHOW NOTES:

• [00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!
• [00:25] The rise of Substack which allows people to make money from paid newsletters.
• [00:25] Four forms of leverage, and the value that your audience has.
• [01:50] Building an audience and how to leverage it once you have one.
• [02:41] How the Leveling Up and Marketing School communities works and how they make money.
• [03:25] The snowballing effects of providing consistent value to a community.
• [04:09] Different platforms for leveraging an audience beyond newsletters.

Resources From The Interview:

• Hunter Walk
• Naval Ravikant
• Charli D’Amelio

Leave Some Feedback:

• What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.
• Did you enjoy this episode? If so, please leave a short review here
• Subscribe to Leveling Up on iTunes
• Get the non-iTunes RSS Feed

Connect with Eric Siu: 

• Growth Everywhere
• Single Grain
• Eric Siu on Twitter