The Entrepreneur Ride Along Podcast - Online Business and Niche Site Ideas for Entrepreneurs

Today, I share a conversation with Clint from the Wallet Wise Guy podcast discussing niche sites and coaching (and how to make money).

Here is Clint's description of the episode: In today's episode, I interview Jake Lang from The Entrepreneur Ride Along! We talk a ton about niche websites and how they're still a great option for building a passive income stream in 2020. Be ready to get inspired by this as there's a strong chance you could turn your own area of passion and knowledge into a money-making niche site!

You can see the original podcast episode here: //walletwiseguy.buzzsprout.com/658465/3900251-episode-26-how-to-create-passive-income-through-niche-sites-with-jake-lang

I highly recommend checking out Clint and Wallet Wise Guy: //walletwiseguy.com/

Enjoy!

Today, I am sharing one niche site idea with you. In the golfing niche. This is a real niche that I researched, take this idea and build your niche site.

You can take this niche site idea and start making money today. Go out and build your niche site today with this one niche website idea.

Enjoy!

You need to use email marketing in your business. 95% of my sales come through my email list.

Today, I want to share one email marketing trick with you. Today, I am sharing one email that I send that gets people from my email list to reply and start a conversation with me. I call it the "got it" email. With this one email, I increased the engagement and conversion of my email list.

You should use the "got it" email in your marketing campaign.

Enjoy!

In this episode I am providing a breakdown of my blog income report, a breakdown of the revenue, expenses, and profit from my niche websites. This income report is for the period of quarter one 2020. For a full list of my income reports, see my blog income reports are archive here: /incomereports

In this episode, and in each upcoming blog income report episode, I will talk through the following:

• Revenue
• Expenses
• Income

In this episode I will breakdown my real revenue and expenses for each one of my websites. I will give you some insight behind the scenes into what I am doing with each blog, what happened during the last quarter, and how I plan to continue scaling.

And if this sparks some ideas for you, or encourages you to go out and start an online business for yourself, I encourage you to start today. If you just need some ideas, go ahead and download my five website ideas (the businesses I would start if I had more time): /nichedownload/

Enjoy!

Today, I am sharing my biggest failure as an entrepreneur. Today I share my experience launching my business "NE Lounge". An Amazon FBA product that resulted in a $16,000 loss.

That's a lot of money! I wrote about this over at Failory, where I shared my entire experience. Below is a snippet from the article I wrote for Failory explaining why I failed and lost $16,000 from an Amazon FBA product:

In the end, it came down to profit. I just could not turn a profit. No matter what I did. My marketing effort, trying to rank for my keywords on Amazon, was not working. No matter how many 5-star reviews I got, and no matter how many discounted items I sold, my Best Seller Ranking was not climbing fast enough to rank on the first page of Amazon.

I was in over my head. I chose an expensive product ($20 per unit), I was trying to sell at a premium price ($50 per unit) but no one was buying. The only buyers I was getting were the people buying through JumpSend at a 50% discount. After Amazon fees, I was taking a loss on those JumpSend sales and it wasn’t even helping my organic ranking!

In the end, I sold more inflatable loungers at a discounted rate through JumpSend then I sold organically at full price. I was essentially paying money for people to take these inflatable loungers from me.

After accounting for the initial investment, marketing fees, Amazon storage fees, Amazon sales fees, JungleScout fees, professional photography, and graphic design the end result after selling 500 units of NE Lounger inflatable loungers was a loss of $16,000.

I shut the business down in April 2018 after selling all 500 units (for a loss). The nail in the coffin came when I brought the dilemma to my mastermind group, a group of entrepreneurs I trusted and had been meeting with on a weekly basis for over two years. I asked them if I should re-order more inventory to try and turn a profit, or cut my ties and walk away. I got a lot of great feedback from an outside perspective; it was eye-opening.

The choices were clear, spend another $16,000 and maybe turn a profit or double down on my other online businesses and scale those to reach my goal of $10,000 income per month. It was an easy decision. In the end, I decided not to re-order the next round of inventory. I shut down NE Lounge and walked away with a $16,000 learning lesson.

I can point to a number of reasons why this business failed. First, I suffer from shiny object syndrome. I jumped in too quick after just learning how to launch an Amazon FBA product. I saw the profit potentials, and I was really pushing myself to generate a little extra money so I could leave my 9-5 job and pursue entrepreneurship full time. I chased the shiny object when I could have doubled down and scaled my successful businesses.

Second, I chose the wrong product. I chose an expensive product to manufacture, one with lots of competition, one that is known to break (and get bad reviews), one that is a fad product that I had never personally used or even heard of before researching niches on Amazon. I should have chosen a simpler item for my first FBA product, one that was less costly and cheaper to manufacture on a per-unit basis. I was in trouble right off the bat when I dropped over $10,000 just to manufacture my inflatable lounger. I put myself in a hole from the beginning. I should have started smaller, and started cheaper for my first attempt. It would have softened the blow of this failure.

Third, I didn’t fully understand Amazon. This was my first Amazon product. I didn’t understand the fees, I was learning about manufacturing, I didn’t understand importing, and I didn’t realize how hard it was to rank a product organically on the Amazon search platform.

Welcome to The Entrepreneur Ride Along Podcast with Jake Lang.

In this episode, I am interviewed by Eric of the breaking through the cloud podcast. Eric and I have an in-depth discussion about how I started my business' started and what it took to get to where I am today. 

Here is Eric's description: What is it like to start online business? What is it like when the first time it does not work out? How do you get back up and keep going? Jake Lang shares his uplifting story with us as well as tons value that we can all incorporate into our daily lives.

Welcome to The Entrepreneur Ride Along Podcast with Jake Lang.

In this episode, I breakdown exactly how I’m generating $1,000+ per month in passive income with my dog blog. It’s a membership site in the pet niche. This is an introduction to my dog blog niche site, Pomsky Owners Association.

I’ll breakdown what I’m doing, my struggles getting to this point, my sales process, expenses, and plan for the future. I’ll tell you exactly how you can begin generating passive income with your own membership website.

Below is a snapshot of earnings from Pomsky Owners Association during Quarter one of 2020. See current progress and income from Pomsky Owners Association here on my blog income reports.

Welcome to The Entrepreneur Ride Along Podcast with Jake Lang.

In this episode, I breakdown exactly how I'm generating $5,000+ per month in passive income by selling online courses in the insurance industry. This is an introduction to my niche site, AssociatePI.

I'll breakdown what I'm doing, my struggles getting to this point, my sales process, expenses, and plan for the future. I'll tell you exactly how you can begin generating passive income selling online courses in your niche.

Below is a snapshot of earnings from AssociatePI during Quarter 1 of 2020. See current progress and income from AssociatePI here on my blog income reports.

Welcome to The Entrepreneur Ride Along Podcast with Jake Lang. Follow along with me on the entrepreneurial journey as I learn, fail, and grow while testing, scaling and starting new businesses.

Along the way I will be scaling my online business, starting new online businesses, and talking to other entrepreneurs to learn exactly what they did to build their businesses.