New Direction of Revenue Research

Transcript

building an indie business, in the center of venture capital. I am Alex Edmonds, people on the Internet. Call me supremerumham. And this is the building an indie business podcast with Jesus. All right, from the indie business studio. Okay, so today I'm going to be talking about how I'm thinking of taking revenue research in a new direction. So I'm gonna just talking about the current direction that revenue research is on like how I format the content and whatever. I'm gonna be talking about my idea, how I can split up the content. The benefits of this idea, the problems that I have with this idea. So yeah, let's get into it. So, currently, what revenue researchers, is it, it's how different industries, make money, so like, airlines, or movie theaters, or expenses, film production budgets, direct listings. It's very broad and niche at the same time, it's broad in the sense of like finance is a very broad subject, but like, how these industries are making money. It's a very niche like not a lot of people are interested. At least that's what I find. So, my idea is to be more experimental right show how people can make more money. And the way I can do this is by doing the experiments myself like I did x, because y, and z happened. It's more actionable that way. And then I can interview people that I know that have experience in this area. So, what I'm talking about is, Like financing revenue research myself, and doing projects myself so I studied domains, and how I study domains is I buy domains myself and I generate revenue with the domains, right, and then that way. I'm doing the research myself I'm showing how one person, me as a human can make money through like the domains, and that way people can then read my research, and then they can go do that themselves, they can make money themselves, and sort of read me in about how film production is done, and financed right. That's, that's better for people, that's what I think that's, that's more helpful to people, right. So, originally, when I started revenue research. My idea was for people that want to make money. Learn how an industry makes money, and they use that information to start their own projects, or investors, research, like how film production is started, and they go invest in those film production companies, or that they're able to research film production companies, and then choose which ones to invest in well with this, people themselves can do my experiments, and they make money from them. Right. They take my advice. They, they do what I do or they do what I didn't. And they make my right so it's the same effects right. Okay. And then I thought about splitting up the content, right. So, the free content would be the research. That'd be like for domains, let's say, that'd be like how a domain is valued, how that's determined where to go buy a domain, how to price a domain that'd be the research also. What are the expenses, the different methods of generating revenue from a domain. Right, so that'd be the free research, and then the paid, would be my results. So it'd be, I went here to go buy the domains, I went here to go sell them. This is how much money I made, I can show everything I should, I can show the expenses. The revenue and the profit. I can be more open with that because people with the paid content, I can be more open because those are my true fans right. I don't want to be very open with strangers. That's my thing. Right. And then I'd be making money from making money. Right. And then also I can sell premium podcast episodes, with the written content. So, for that I need to do a podcast episode for any type of writing that I do, period. So, I can take the podcast episode that I do for these premium episodes, or no, this premium content that people are paying for. And then I can release that with the written content just in case people like that more. Right. And then also another idea I had was to summarize the interviews for free. And then the paid content is for interview. So let's say I interview someone from, I don't know, let's say GoDaddy. And then I interview them. And then I summarize the interview for free. And then the paid content is a full interview. Right. That's just another idea I had. Okay. And the benefits of this idea is that the content is more relatable because I'm talking about how I'm making money, right. I'm not talking about how Tik Tok makes money. So it's more actionable for other people. Right, it's, it's literally how regular people like me can generate revenue, which is all about. That's what I that's what I had in mind for revenue research how people can make money themselves. Right, so it's still the core of revenue research, it's just not like researching industries, it's researching what people, how people can get break in those industries right and make money. So yeah. Another benefit is, I like this idea. Right. So, if I like this idea, I'ma. I'm gonna enjoy it more, and to be honest I've been struggling with revenue research at its current format. It just sounds very interesting to me anymore. So, yeah. Um, and then I can use my previous experience, to help me, you know, with this research, build on that content, build on previous content to make money in the future, with new, new industries right so I can use my experience with E commerce to help me sell an album. Right, so I learned how to sell things from writing the book, and that was ecommerce and I'm helping someone release an album. And so I can use my ecommerce experience to promote an album and make money from an album, and, you know, I'm generating revenue when I'm helping more people generate revenue. Right. And then, I think this is more shareable, because I share content about how to make money with other people all the time. So I'm always, I'm interested in billboards, right. So, I was talking to someone and they were asking me about it like oh, how do you make money with billboards, how do you get started with that. And I looked it up and I shared with them an article, right. So, if someone is looking to make money with domains, they can look that up and find my revenue research content and share with you know their friends. Right. Okay. Um, problems. So, there are some problems with this. The first thing is, I release content every month, right. I think this research is going to take a little longer than one month, so I always have to have different projects ready to go. And as soon as I make revenue. That's when I write the article. So like for domains. I am in the middle of doing a domains like research project right now, so I bought three domains. And I am selling them, and I am making money every time someone clicks on the domain. So, as soon as I sell one domain or two domains. Then I should write blog posts, but it might take me more than a month to sell the domain. So, I just have to slowly start all these projects to get ready to write a blog post about each one. so I have to have three or four projects going at once, because I don't know when the projects will be ready to have their blog posts, right. And then another problem is unfunded everything right. I can only fund so many projects at once. I can't fund, a $10,000 experiment. So, I'm limited in that sense, right. And then also, what if I end up not making any money at all. What if I don't sell the domains, or what if I don't make money from the album that I'm working on with a friend. That's a, that's an issue. Right, I probably could still write a blog post, but it won't be as, you know, It won't provide as much value to people. Right. Another problem is that there's similar content out there already. But I have the advantage of my audience. And then also, it's my personal experience, so it's not just, Hey, how do you make money in this industry, like the free content is, but the paid content is a, this is my experience this is literally how I made money in this industry. Right. So yeah, and then another problem that I find is that I have to manage all these revenue sources. So, the album, the domain domains anything else. Let's say I have 10 blog posts about how I've made money in an industry. I have to manage all of that. Right, that's a lot of projects to be managing myself, so I have to figure that out. And then also, I just have this thought in the back of my head, will I run out of content, or money first. I don't know. You know what I'm saying it's a, It's an issue. I don't. But if I'm making money on all of this, then it shouldn't be an issue. I don't know. Okay. And then also another problem, a small problem I guess because I could figure this out probably by the time this episode comes out, I will figure this problem out but I still know how to automate delivery with stripe. So right now, if you go by the book, the podcasting book, is what I'm saying. Um, ah, I'll get an email and I send you the book. It's not like, Oh, I'm using this service and you'll get a link to go download the book, no I send you the book. Right, so it's not automated. So let's say I write 10 reports, and 20 people buy these reports. I have to send those emails out. So if I get 20 people buying one report, I had to send 20 emails. So I have to figure out how to do that. Um, I might be able to use Mailgun because I read solutions. When I was writing, or after, when I, when I went on stripe. When I posted, when I added the podcasting book to stripe. I researched delivery a little bit, and I saw a solution that involves Mailgun. So, I have to figure that out and look at that, how I can automate that with Mailgun. I have an account from the open podcast forum days. The discourse form. So, that's why I was kind of looking at that solution. Right. Okay. I think that's all I have for this episode. Um, yeah. Thank you for listening. Have a nice day. Bye.