Episodes

  • Acquiring Financial Educators and Publishers - A Conversation with Ian Rosen

    Acquiring Financial Educators and Publishers - A Conversation with Ian Rosen
    Jul 17 2023

    Have a Financial Education or Publishing company? Interested in the details of becoming acquired? Get your answers in today's episode. Ian is the CRO of Magnifi a division of Tifin and has acquired a number of smaller educators and publishers over the past couple years.

    00:00 | Who is Ian Rosen?
    05:56 | Why acquire Financial Education Companies?
    08:11 | Is it easier to build a product or an audience?
    09:28 | Why not start from scratch vs acquiring a Fined/Finpub company
    10:39 | Why aquire when you can joint venture or strike an affiliate deal?
    12:47 | How big of a factor are compliance issues when acquiring a company?
    17:30 | Did Ian ever consider acquiring companies related to Fintech?
    19:04 | Psychology behind Ian's ideal partners
    22:20 | Short list on why an acquisition would be attractive to a Finpub
    24:04 | The beauty of financial alchemy "Finpub to Fintech"
    27:32 | How have current acquisitions gone? What was learned? Plans going forward?
    30:44 | Does bad aqcuisition matter less if the backend monetization succeeds?
    34:16 | What types of products are working right now?
    36:15 | Themes on what marketing works better than others
    37:28 | Build a Financial Education company without the Guru phase?
    38:49 | Acquiring companies with established audiences vs faceless companies
    39:58 | What type of Revenue Multiples do you look to pay companies you aquire
    42:30 | Lifetime relationships with founders?
    43:24 | Compensation model for acquired founders?
    45:00 | What marketing machine will future partners have access to?
    46:48 | Amount of control business owners are going to lose
    49:51 | Ideal company size that Ian plans to acquire
    50:43 | What Ian wishes to fix at an early stage
    56:00 | Ian explains "Chateau Fibonacci"
    57:09 | Ian's advice for business owners who are planning to quit
    1:00:13 | Ian's recommended book that he read recently
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    1 hr and 3 mins
  • Conversation with Crypto Analyst - Mark of Bitcoin.live

    Conversation with Crypto Analyst - Mark of Bitcoin.live
    May 9 2023

    Today we are speaking with Mark of Bitcoin.live. Check out the annotations for easy scrolling.

    00:00 - 1:44 How did Mark start?
    01:45 - 03:36 What inspired Mark to get here?
    3:37 - 05:07 Did Mark get drawn to Bitcoin because of the fast gains?
    05:08 - 07:25 Secure safe path or try something else?
    07:26 - 09:31 Personality training is the key?
    09:32 - 12:13 Why go into altcoins space if Bitcoin is the way?
    12:14 - 15:22 A way to predict the timing of Bitcoin's adoption?
    15:23 - 19:24 What keeps Mark in Bitcoin during the "bear markets"?
    19:25 - 20:13 The logic about buying.
    20:14 - 23:28 What is fractional reserve banking and how did some of the banks get into trouble?
    23:29 - 25:21 Mark's opinion on bank bailouts?
    25:22 - 25:52 Bitcoin taking over the monetary system?
    25:53 - 29:01 The U.S national debt and the inflation going forward.
    29:02 - 30:48 The future of Bitcoin live.
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    31 mins
  • Conversation with Jeanette Sims Co-founder of Trade Thirsty

    Conversation with Jeanette Sims Co-founder of Trade Thirsty
    Jan 13 2023

    Today we are speaking with the Co-Founder of Trade Thirsty Jeanette Sims! Get her backstory, what her company does by listening to this episode.

    00:00 - 12:26 = Where did Jeanette start?
    12:27 - 16:49 = How young is the internet?
    16:50 - 19:04 = How does Trade Thirsty operate?
    19:05 - 26:52 = What is the pain point for publishers or educators?
    26:53 - 29:04 = If you're a financial educator or publisher, who would you connect with?
    29:05 - 35:48 = Difference between an A player and a B player
    35:49 - 36:40 = What do clients want?
    36:41 - 41:20 = What is something you wasted a significant amount of time on?
    41:21 - 46:12 = What's the book that Jeanette has been reading lately that the audience that can benefit from?
    46:13 - 47:13 = Who is Jeanette jealous of in YouTube
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    1 hr and 1 min
  • Talking to Jami Stout Co-Founder of Revenue Tree

    Talking to Jami Stout Co-Founder of Revenue Tree
    Nov 22 2022

    Jami: Crowned affiliate queen has been responsible for multimillion dollar launches including a 28 million dollar affiliate launch in the Financial space. She connects financial products, offers and traffic at Revenue Tree. Get her backstory, thoughts on media and finance and where the industry is headed.

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    1 hr and 32 mins
  • Building a Financial Education Business from Scratch

    Building a Financial Education Business from Scratch
    Nov 21 2022

    Follow along as we build Giles business from scratch! Get Funnels, Website, Templates, Strategy and Negotiation tactics by following along: https://offereconomics.com/journey/
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    44 mins
  • Offer Component #9 - Pricing & Pricing Structure

    Offer Component #9 - Pricing & Pricing Structure
    Feb 8 2022
    Creating Value Through Price Alone? The $120 Cheesesteak. Irresistible Offer Component #9: Pricing and Pricing StructuresPricing is a fascinating concept – because higher prices themselves can create value. Simply because of the fact that that you are more expensive.How many people can tell the difference between a $12 dollar bottle of wine, a $30 bottle of wine and a $50 bottle of wine?And yet, we feel better about the quality of the product when purchasing a $50 bottle.One of my favorite examples is of cheesesteaks in Philadelphia where I live. What do you think the profit margin is on a cheese steak?One article from Philly Magazine was moaning how difficult it was for restaurants to get by. “They have gone from 15-20% margins down to 4-7% margins.” That means if you spend $10 the restaurant is only pocketing 40 to 70 cents in profit.And this is the horrible vicious cycle of competing on price. Everyone who competes on price eventually gets squeezed down to where they barely survive and turn a profit.For most businesses pricing looks something like this: What are all my competitors doing? I’ll try to give the customer a bit more and then make my prices middle of the road to stay competitive.Then a couple service providers start dropping their prices, so you have to drop your prices, then they drop them a bit more and you drop yours again and so on…It’s an eventual road to failure. Unless you can be the market leader and charge less than everyone else or you have some new process like Walmart with bulk purchases and distribution to charge the lowest prices – then don’t try it.It’s a slow road that leads to burnout. Instead charge premium prices and increase the value. You’ll even get a small lift by the value that is created that higher prices command intrinsically. Barclay Prime in Philadelphia decided to try this model on one menu item. A new twist on the Philly Cheesesteak.Made with the finest ingredients, Wagyu beef, sesame roll along with foie gras mousse and truffle butter and Italian Caciotta al Tartufo cheese and a half bottle of champaign.The cost? A whopping $120. The world’s most expensive.You could get 12 cheesesteaks at Pats for the same price.What do they call a cheese steak from Pat’s or Geno’s?A cheesesteak.But a $120 cheesesteak from Barclay Prime?Thrillist calls it a work of art.While the profit margins were undisclosed – I imagine them to be many times better than the restaurant average of 4-7%.So instead of competing on the lowest price. Charge premium prices and increase the perceived and real value of the product.Lower prices generate a negative price war which brings in unloyal customers who are less invested in your services (so will have worse outcomes), have a less perceive value(because the product is cheaper), and you will have less profit to pour back into your services to hire the best people to get results.On the contrary, higher prices produce loyal customers who are more invested in your services…which means they will get better results because their full attention will be focused on you, have more perceived value(just because your prices are higher) and you will have more profit to pour back into your business making your service better and enabling you to hire the best people.Does this mean you can just increase your prices? Unfortunately not. You need to have the other ten component of an irresistible offer. BUT – price by itself is a signal of value and can in some limited way create value.So where should my prices be? Toward the higher end of the premium range. Then you make sure your bonuses are in place & your risk reversals are in place.Here are some different pricing structures to walk through. This first one is if after all this work – you are still a bit unsure about charging more. You are like….I’m not sure if it’s really worth it…then use this model.1. Let’s say you are charging 1k for your service offering currently. You go through all irresistible offer components and now your offer is compelling and then you take your price and change it from 1k to 3k and say you can pay 1500 now and 1500 when the project is completed, or you can pay 2k today. (Insert window of time that fits with your structural urgency)1.1 Always, Always, Always, use this as an opportunity to raise create true urgency and scarcity. If you are raising the prices in the business, announce it for a specific date and you will likely drive some cash flow.2. If you are afraid of losing customers and you need some cash flow to survive…then take the above approach but also create an essentials program. This takes just the key elements of your service and follows up with your prospect afterward explaining that you have a “group coaching product” at the end of the month or an essentials product that you only deploy during xyz time and that they can jump into that for a discounted price.
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    12 mins
  • Social Proof without Proof? Your "How to" Guide and more.

    Social Proof without Proof? Your "How to" Guide and more.
    Feb 7 2022

    Irresistible Offer Component #8: Social Proof

    Now you might be thinking – Paul I don’t really have any social proof. Or I do have social proof but I can’t demonstrate a massive result….yet.

    Now social proof does help. For example, if anyone asks me for proof, I can show them a video of one business owner that I’ve created 400k in 6 weeks from one offer. That’s a big result!


    But you don’t need social proof.


    Here are some ways to demonstrate social proof if you don’t have that big case study or testimonial.


    1. Show proof that the concept works. If you are a dietician and live and die by the Atkins diet but you don’t have examples of a client losing 50 pounds. Show case studies and testimonials of the diet working generally.


    2. Find friends and family that you have done great similar work for – and ask if they would jot down a couple lines and you can use that as part of your testimonials.


    3. What if you are just starting and you haven’t done any work in that particular field. You can still demonstrate that you are responsive, timely and work hard to get results. Those values alone are significant.


    4. You can also create social proof by writing or speaking. One way is to write an article about your subject and pay to have it published in Yahoo news. Or you can create an offer to appear on someone’s podcast and then use that as social proof. “My journey starting a business from scratch.”
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    8 mins
  • Urgency & Scarcity Gone Wild

    Urgency & Scarcity Gone Wild
    Feb 4 2022

    Irresistible Offer Component #7: Urgency & Scarcity

    What does the general public think when they hear the word “marketing”? perhaps…artificial urgency and scarcity “tactics” come to mind.


    Only 3 left in stock! 5 Days left until the doors close! Act now or this is gone forever! Many times, its disingenuous, manipulating, or downright insulting.


    Let’s back up and define urgency and scarcity – your business needs both to increase sales but you need to do it ethically and different than everyone else, which will increase the value even more because you will stand out.


    Urgency is defined in terms of time – Take action by X date.


    Scarcity has to do with how limited the supply of an item actually is.


    There is good reason why marketers deploy urgency and scarcity. Human beings hate taking action. They would prefer to put off decisions and procrastinate even if taking action would be helpful to them or their business.


    But there’s more. The #1 reason why anything is valuable is based on scarcity. So if a marketer can make it seem like there is less of something…then by default it becomes more valuable.


    The same goes with urgency – most people need some urgent reason to take action. The more urgent something seems, the more valuable it is.

    But how do you do it without giving away your soul? How do you do it authentically? How do you have continual urgency and scarcity without being fake?


    Many businesses create artificial urgency and scarcity.


    Your company should create structural urgency and scarcity.


    Consider 2 questions:


    1. What is your normal business cadence for fulfillment? If you are a health coach you might have a 30 day program that starts at the beginning of the month. If you have no cadence, you should start one, you’ll actually sell more than if you let clients in whenever they want. And you will save on stress and gain in organization. This way you can also deploy real urgency. “We have 1 week till this program starts, you in or out? Once I start teaching on the 1st I’m not going to go back and re-teach that day, so you need to get in before the end of the month.”


    2. How many clients can you actually handle? If I gave you 100 clients next week…could your business handle that? So find out whatever
    number that is – and then just let the market know the legitimate scarcity that exists in your business. If you are just starting out and can only handle 3 clients per month at 3k apiece…that create excellent scarcity. One person has already signed up and it’s the 8th of the month…you can powerfully and legitimately say that you can only take 2 more people or the client must wait till next month.

    Ironically, building an irresistible offer and charging premium prices helps with this process of creating structural scarcity.

    Because you don’t have to take on as many people to be even more profitable than you were before. So you aren’t desperately trying to sell clients and can create natural cadences so your product appears more valuable.


    It’s a virtuous cycle.
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    10 mins