Starting from Nothing - The Foundation Podcast | Building your business ENTIRELY from scratch.

Jeff Wenberg is the founder of Smart Video Metrics and an alumni of The Foundation. Jeff started a voiceover and video business right after being let go from his job. He grew tired of the inconsistent income of that business so in 2015, he joined The Foundation.

In this interview, Jeff tells us how he came up with the idea for Smart Video Metrics, how much time and money he invested in his solution, and his takeaways from his experience so far.

  

In This Interview I asked:

4:28 - How did you know that there was an opportunity to solve a problem?

6:35 - What problem were you experiencing that you wanted to go out there and solve?

7:57 - Why is it important to be able to track this [video conversion data]?

9:43 - Why did you feel confident in breaking the rules of the pre-selling model?

13:04 - In retrospect, what are the things you would go back and change?

14:24 - How did you build [your solution]?

17:27 - How long was the process between hiring a developer and receiving the final product?

19:34 - With no pre-sales, how did you get your first customers?

22:12 - What specific lesson learn did you learn about Smart Video Metrics?

23:45 - How long after getting the software developed did it take to get that first sale?

26:28 - What are your goals for the next 3 months, and what are the highest leverage things for you to focus on to accomplish those goals?

28:09 - What was your biggest takeaway from the mistakes that you’ve made so far?

28:36 - What do you think you’ve exceptionally well [in this whole process]?

 

SOLVING A PROBLEM - The #1 thing you need to start a business is a problem to solve (not experience or a track record).

  • Jeff was originally working on a solution for freelancers, but when they became unresponsive during his outreach, he decided to scrap that idea and solve a problem he personally struggled with.
  • Smart Video Metrics tells you if a person watching your video turns into a lead or customer. The problem that this solves is having the ability to track the life of a visitor without having to spend a ton of manpower. The alternative solution would be to use Google Analytics manually.
  • Creating videos takes a lot of time and money investment so it’s important track the return of investment (ROI). 75% of people investing in video creation only track their video views. If you’re spending more on videos than they are making back, it’s pointless.

  

PRESELLING - Before you go out there and build a solution, you collect pre-sale dollars in advance to mitigate the risk of building something with your own money.

  • Pre-selling is not just about the dollar amount that it’s going to take to develop software. You are able to get users to tell you exactly what features they need and don’t need.
  • Jeff had never worked with developers before. Counter-intuitively, he hired the most expensive developer who also had the most background in the particular type of software Jeff wanted to build - and received the finished product a month later.
  • When hiring a developer you want the perfect mix of enthusiasm and price. Don't hire based on who will work for the least amount of pay. Also it’s important that the developer is excited to work on the project, and it’s your job to sell them on it.
  • If you don’t have pre-sales, focus on one-on-one conversations with potential customers in your market, and utilize free tools until you’ve fully developed your positioning.
  • Having only two hours a day to work on Smart Video Metrics, Jeff only focused on tasks that resulted in the the most impact. He only wished he would have been more patient and tried to pre-sell his solution.

 

 

Show Notes: 

Smart Video Metrics, 2-Week Trial

Direct download: Episode_158_-_Jeff_Wenberg.mp3
Category:general -- posted at: 4:00am CST

Adrienne Dorison is a no-nonsense success expert for online entrepreneurs helping them get better results in less time by doing the right things. She is also the host of the daily podcast The School of Mastery, a national triathlete, and passionate dog mom.

 

Adrienne never thought she’d become an entrepreneur; however when she was able to pay off over $40k in debt from the income she earned on the side through her blog, she finally took the leap and left her corporate job to work full time for herself.

 

In This Interview You’ll Learn:

5:35 - About Adrienne and her early career as a consultant for a fortune 500 company.

10:47 - How to avoid the “leaving too early syndrome”.

15:08 - How to balance the distinction between your full time job and your side hustle, as well as how to handle the fear of being “found out” by your boss.

19:38 - How to use your corporate experience to your advantage towards your entrepreneurial endeavors.

23:20 - How to use the S.I.M.P.L.E system to overcome common entrepreneur obstacles.

41:02 - How Adrienne defines success.

  

Show Notes:

Adrienne’s website: AdrienneDorison.com

Direct download: Episode_157_-_Adrienne_Dorison.mp3
Category:general -- posted at: 4:00am CST

Dan Martell is an award-winning Canadian serial entrepreneur, and the founder of the recently acquired Clarity.fm, a venture-backed startup that makes it easy to connect with top business minds over the phone. In 2012, he was named Canada’s top angel investor, having completing over 33 investments with companies like Udemy, Intercom, and Unbounce.

 

Dan is back on the podcast giving us actionable steps on launching a startup from scratch. He shares why it’s easier to start a company today than ever before, how to determine your most important tasks as a CEO, and the common mistakes to avoid when launching your first startup.

 

In This Interview You’ll Learn:

2:08 - How Dan uses the seven pillars to measure his life, and orient his actions to get what he wants.

6:37 - How to focus on high-income tasks with the entrepreneur scorecard.

12:59 - Why the opportunity for anyone with a great idea to start a company is greater than ever.

18:46 - The truth about what it takes to become part of the one percent in America.

19:30 - Why you need a M.E.V.O (Minimum Economical Viable Offer), and not an M.V.P (Minimum Viable Product).

24:45 - How Dan went from 0 to 50,000 customers in 16 months by using content marketing.

32:32 - The most common mistakes new founders make.

  

Show Notes:

Dan’s Blog - danmartell.com

Dan’s Previous Episode - thefoundation.com/podcast/episode12

Dan’s Course - IdeatoExitOnline.com

Direct download: Episode_156_-_Dan_Martell.mp3
Category:general -- posted at: 5:56am CST

 

At the age of eighteen, Jules Schroeder ran her first six-figure business teaching other college students how to run their own businesses. Four years later, at age 22,  she co-founded a publishing company that made seven figures its first year in business, specializing in making books #1 Best Sellers on the Amazon Kindle platform. Today Jules runs CreateU, a one-year online education program that focuses on learning the specific skills you need to create the career & lifestyle you want.

 

In this episode, we talk to Jules briefly about her company CreateU, and some lessons she’s learned from her experience running three businesses. Then we go in depth to break down the three parts of becoming who you are. Jules shares her insights on relationships, creativity, and improving your skills.

 

In This Interview You’ll Learn:

2:08 - About CreateU.

10:21 - How to determine if you should go to college.

12:40 - Why you should get hands on experience and limit your consumption of how-to information.

15:33 - How to learn from failure, and what Jules learned from her failures.

20:00 - What success means to Jules.

22:43 - Part 1 of Becoming Who You Are: How to Maintain Close Relationships.

28:31 - Part 2 of Becoming Who You Are: How to Cultivate Your Own Creativity.

33:02 - Part 3 of Becoming Who You Are: What’s One Area of Your Life You’re Actively Improving?

37:09 - How to relax from your business without feeling guilt.

 

Show Notes:

Jules’ Website - julesschroeder.com

CreateU - createu.life

Unconventional Life Show - unconventionallifeshow.com

Direct download: Episode_155_-_Jules_Schroeder.mp3
Category:general -- posted at: 6:10am CST

1