Money Lab

Money Lab is back! But there's a new format. It's my sawdust. Let me explain...

If I could tell myself in 2004 what I know now in 2023, I would've avoided burnout and built a successful, six-figure online business in half time it actually took. 2004 The Idea: Look, here's the plan. You're gonna buy this domain, but you won't do jack shit with it. Then you'll have to re-buy it for a higher price in a few years. So buy the domain and use it ASAP. Build the site using WordPress. Keep the design clean and make sure it loads really fast. 2009: The Blackhat SEO Phase: Don't waste time building shitty backlinks to your shitty articles and don't use anything called Unique Article Wizard. All you have to do is write the best articles on pool care and publish them consistently. 2011: The First YouTube Video: You need to make at least one video a week. Publish consistently. Try different video styles. You don't need to be near a pool. Don't give up on YouTube. Every week. 2013: The Podcast: Just keep writing articles and making videos. And stop making those infographics. They don't work in the future. Your podcast won't be huge, but it'll be rewarding. Just stay focused on what your business does well. 2016: The Software Phase: Software will NEVER be your thing. You'll attempt to create and sell software over the next few years and fail every time. All of that time would be better spent working on Swim University. And now Roasty and Brew Cabin. 2017: The Airport: There was 2017 Matt staring down at his phone on the verge of tears. He must've just read the Amazon email saying commissions were getting cut to the bone. 2004: The Future: You're gonna make money selling banner ads and putting affiliate links on your site. But the most lucrative thing you'll do is create and sell your own products. Stay in your wheelhouse. Write articles, produce videos and design graphics. In 2013, you will create an e-book on how to take care of a hot tub. You won't know it, but that'll be the most important moment in your business. Just build your website on WordPress, make it load fast, do some keyword research, and publish articles and videos around them. Then, make a few digital products, like ebooks and video courses. Promote them on every page. Make this your focus and treat affiliate commissions as a bonus. If you do this consistently, you'll be successful in about 4 years or less.

Ahrefs (keyword research and tracking) WP Engine & Cloudflare for fast, reliable hosting Yoast or RankMath WP Rocket with Imagify for Speed (with Carbonate theme) Headline Analyzer to improve CTR Jasper (writing better descriptions and intro hooks) BONUS: ClearScope/Frase to give you a leg up

According to the U.S. Bureau of Labor Statistics, 65% of businesses fail in the first 10 years.And one of the main reasons is money management. I'm going to show the 3 tasks I do every day to control money and boost profits.My 3 Boring Business Tasks Monthly Metrics Business Budgeting Job Journaling These spreadsheet templates are available at MoneyLab.co/Resources

The Rise of Chatbots and the Threat to SEO: How Chat GPT could change the game for search engines forever. In this episode, we dive into the world of Chatbots and how the development of advanced AI language models like Chat GPT could have a significant impact on the world of SEO. We discuss the potential benefits and drawbacks of this technology, and how it may change the way we think about optimizing content for search engines. - This description was written by ChatGPT 3

This decision could impact your online business forever. You need to consider many factors for it to be successful long-term. But if you get it right, it'll pay off forever in ways you cannot measure. Are you feeling overwhelmed? I get it. But I'm here to tell you that you're overthinking it. Picking a brand name is easy with the methods I created. After listening, you'll come out on the other side with a kickass brand name and domain that'll make it effortless to scale your business in the future.

I ask Miles Beckler to share his Facebook Ad strategy for getting more sales on his digital products.

What's the best way to discover a profitable niche? Find something you already enjoy or have a good amount of knowledge about.Most people hate this advice.I suspect they want a different answer. They're looking for the undiscovered niche to help them get rich quickly.There are no tricks or secrets to uncovering a profitable niche or topic for your business.Everyone has an interest. That's your niche.Everyone knows a lot about one topic. That's your niche.Every niche can be profitable. The variable is not the topic; it's the person creating the business.The Fastest Way to Discover a Profitable NicheI've been practicing this technique since 2008. And it's the simplest exercise in the world.NOTE: Don't use a computer. Get a notebook or piece of paper and a pen. You must do this exercise by hand. No typing. I'll explain why later. Sit down for 5 minutes in every room in your home. Write down every significant product you see. Group products into obvious categories Cross out the dumb categories you know you'll never build a business around. Highlight categories that you could easily write about with no research. After performing this exercise, there will probably be only 1-3 ideas. If there are more, you're lying to yourself. Repeat steps four and five.You should now have your niche. No research is required.And there's an important reason not to open your computer during this exercise…Analysis Paralysis: The Reason You Struggle to Pick a NicheIf you follow my analog method of finding a niche, you'll want to research to see if there are good keywords. But I strongly urge you not to do that.This is exactly why you're struggling to pick a niche.You can research to uncover a “secret” niche or choose a familiar niche (using my analog method). But both paths can lead to two outcomes: insufficient keywords or too many (and therefore “saturated”).Researching a niche will kill your confidence. It might not, but I wouldn't take that chance.When I started my coffee website, I purposely didn't research shit. I knew that if I did, I would be discouraged.And as a result, do absolutely nothing.Broad Brand, Narrow NicheAnother way to avoid struggle is to go wide with your brand. I see too many first-time entrepreneurs box themselves into a corner.Your brand doesn't have to be the niche. It doesn't have to be anything. It can be nonsense.The niche doesn't need to be part of the domain name. Domains don't matter for SEO anymore. They haven't for a long time.Think about Amazon. That word has NOTHING to do with selling everything in the world. It's just a word. But now you know exactly what they do.Amazon is a broad brand that started with a narrow niche: books.Once they mastered selling books, they expanded into other niches or categories. You can do the same thing.I have a niche site around the topic of homebrewing beer. I named the brand BREW Cabin. Not BEER Cabin. Why?I gave myself room to expand the brand. I can discuss brewing coffee, tea, kombucha, whiskey, and witch potions.There Are NO Saturated NichesThink your niche is saturated? You're wrong. Nothing's saturated.If your market is “saturated,” doesn't that imply there's more juice to squeeze?You must carve out a space to stand out. And the best way to do that is to be your fucking self. Get started now and develop your voice.Write your own content. You can always hire later when you earn enough money to afford a writer.The first niche site I ever started was Swim University in 2006. I still run it today.It was something I knew because it was my first summer job. It wasn't sexy or “profitable.” It wasn't a secret undiscovered niche through keyword research.I wasn't the first to start a pool website, and I won't be the last. It was saturated then, and it's saturated now.And yet I'm still doing it.You're procrastinating because you want to be 100% sure your idea will work. You don't want to be wrong or waste years of your life.But remember…It's not the topic; it's the person creating the business. You'll be the only reason it doesn't work. You must be willing to invest time and money to make it work.“There are no bad ideas; only great ideas that go horribly wrong.”– Jack Donaghy (30 Rock)The 4-Year Profitable Business PlanDespite what lying marketing gurus tell you, building a business takes a long time. You won't be an overnight success. You won't make money fast.The stories you've read are probably bullshit or extreme outliers. Take them with a big ass grain of salt.I've witnessed thousands of people building businesses around me. And there's one thing I've noticed…It takes most people about four years to make good money with their online business. They must learn, try, and fail until they finally get it right. It's the nature of the beast.Think of it like getting a college degree. But instead, you make money instead of going into debt.I'd take that trade any day.In other words, you have to stay focused on one thing to gain traction.The Power of One: Protect Yourself Against Shiny Object SyndromeThings were moving too slowly when I first started my website in 2006. I wasn't making money fast enough. So I started 10 more niche sites.Instead of putting all my eggs in one basket, I'd hedge my bets. Increase my chances of one of them paying off.It's diversifying! Sounds smart, right?This is considered good advice in some circles. Let me be straight with you: it's the worst fucking advice you'll ever hear.The better way forward is committing to a single brand, one niche, and diversifying your revenue streams.Stick with any niche long enough and give it your best shot. I promise it'll pay off.Once it pays off, you can scale by adding more niches and revenue streams to your broad brand.The Perfect Niche Was Inside You All AlongYour profitable niche is right in front of you. You already know it. The reason you're struggling is that you don't believe in it.But let me tell you. I've been doing this shit forever. It doesn't matter which topic you choose.I could take any item in my home and turn it into a website or brand. Because I spent 20 years working on ONE niche.I picked it and fucking did it.And I can teach you to do it in way less time. But I can't help you pick a niche. You have to do that yourself. Only you know yourself.I can help you brand it. I can help you do keyword research. I can help you monetize. And if you want to move on to something else, I can help you sell it.I've done all these things. Join Money Lab Pro to get access to all my business training and a community of like-minded entrepreneurs building long-term businesses just like you.The most important part about building a long-lasting business is caring more about your niche than your competitors.You'll win every time.Business Stick-to-itivenessThat's how you discover a profitable niche in 5 minutes. My goal with this is to convince you to go for it.You will doubt yourself. You'll second guess your decision all the time. But that's normal.What's abnormal is sticking with it. 99% of people won't do this. And they fail.However, if you stick with it, you can't fail. Keep learning, keep growing, and keep getting better. You'll have a successful long-term business.Hope this was helpful. Now stop reading, stop procrastinating, pick a goddamn niche already, and build something worth consuming.

The writing's on the wall. It's been there for years. Affiliate marketing is dying a slow and painful death. And I won't be dragged down with it! Before you freak out and start @ing me on Twitter, Affiliate marketing is dead to me. I'm no longer making it a priority in my business. And I want to share the reasons why. Am I gonna remove all the affiliate links on my site? No. Am I going to prioritize other revenue streams that actually grow my business and don't try to fuck me over? Yes. So here is my latest business manifesto: why I think affiliate marketing is dying and what my strategy will be moving forward.

Talk to me: Twitter: @MattGiovanisci Email: matt@moneylab.co

Talk to me: Twitter: @MattGiovanisci Email: matt@moneylab.co

Talk to me: Twitter: @MattGiovanisci Email: matt@moneylab.co

Talk to me: Twitter: @MattGiovanisci Email: matt@moneylab.co

Talk to me: Twitter: @MattGiovanisci Email: matt@moneylab.co

Talk to me: Twitter: @MattGiovanisci Email: matt@moneylab.co

Talk to me: Twitter: @MattGiovanisci Email: matt@moneylab.co

Talk to me: Twitter: @MattGiovanisci Email: matt@moneylab.co

Talk to me: Twitter: @MattGiovanisci Email: matt@moneylab.co

Talk to me: Twitter: @MattGiovanisci Email: matt@moneylab.co

Talk to me: Twitter: @MattGiovanisci Email: matt@moneylab.co

Want to create and sell your own physical products? Same! That's why I talked to a master of Amazon FBA and e-commerce (Andy Humphrey) who schooled me what it takes to do it successfully.

I'm breaking down a two-month marketing plan that increased my business revenue (digital product sales) by 66%.

I talk to Omar Zenhom about what it's like to run a SaaS company and all the stress and frustrations that go along with it. This forces me to ask, is it worth starting a software business?

I'll walk you through every step on how to speed up your WordPress site so your site passes Google's Core Web Vitals update.

These are my favorite writing tips I've learned over the years to improve my writing for blog posts, emails, and more. Plus, all the tools I use to write better content online.

I've built several digital products including online video courses, ebooks, and software. All in less than a week without spending a dime. Here's how I do it.

Alex (WP Eagle) and Matt take your website submissions and offer ways to improve your SEO, page speed, design, and copywriting LIVE!

Jason Zook and Matt Giovanisci discuss how to market yourself as a creator without feeling slimy, FOSO, and when weird doesn't work.

Sean Ogle and Matt Giovanisci talk about how they're simplifying their online businesses in 2021 and beyond. Topics include: how to stay more organized, managing fewer brands, doubling-down on the right platforms, limiting distractions, and knowing your numbers so you know what to focus on. Online business courses, tools, & community: https://www.moneylab.co/pro

I'm walking you through the sales funnel plan given to me by Miles Beckler and executed on my website.

Miles and Matt take your website submissions and offer ways to improve your SEO, page speed, design, and copywriting.

Is "building in public" a useful marketing tool or a distraction from growth? Brendan Hufford and I hash it out!

Is SEO changing in 2021? We rank the importance of SEO trends. What you need to change on your website, what new tools are available, and the importance of EAT and editorial SEO.

Take a behind-the-scenes look at what goes into running a digital media company with three different brands all producing weekly content for traffic.

Find the right keywords to rank fast on Google using the Keyword Golden Ratio method of research with Ahrefs. Matt and Doug create a brand new authority niche site and build a massive keyword list using Doug's KGR method.

Would you delete all your online content just to start over and digitally reset? That's what Corbett and others are doing in 2021 and we're gonna talk about it. Plus, what it's like to run an online community/membership.

We discuss some simple email marketing blueprints to implement in our own businesses in 2021 using ActiveCampaign.

We talk about what happened to everyone's website in the December Google Core Update 2020 and how to make your website better going forward.

I compile all the data every month into one big journal entry with all the tasks I completed, what went well, what didn't, and what I plan to work on next.

Every Wednesday at 2 pm EST, I host a show on YouTube called Money Lab LIVE. And now that show will be available as a podcast. So if you want to follow along and get new episodes of Money Lab LIVE, visit YouTube.com/MoneyLab. But now you can listen to them too!

Big news, folks: we are now hosting the Money Lab show over on YouTube. We’ll be recording all our business conversations on camera. AND, because it’s video, we can actually show you how our businesses run. It’s a behind-the-scenes and on the screens look at what it takes to run an online business. Plus, let's be real: YouTube has way better search-ability and discoverability than podcast players. And you know how much we care about doing things that actually work for our online businesses! So if you want to follow along and get new episodes, visit YouTube.com/MoneyLab. See ya on the Tube!

Has Matt found his online doppelgänger? Miles Beckler, of digital marketer YouTube fame and Milesbeckler.com, joins the show to talk all things online entrepreneur. Matt and Miles both run niche sites that they've had for years and years. They both run tons of experiments and share what they've learned online. And they both have a super strong hat game (have you seen their YouTube thumbnails?), So how do you stay committed to a businesses over the years without any viral, hockey stick moments? What are the small, boring things that add up to long-term success? And how do you have fun in the long-run? Enjoy! P.S. You can check out Miles at YouTube.com/milesb

Matt just ran two business experiments that failed miserably. But they ended up being really valuable learning processes. Matt and Andrew discuss how to run useful, measurable tests in an online business. How do you come up with a legit hypothesis? How do you get meaningful data and results? And how do you move on if you find out it doesn't work? If you've ever wondered if something like Pinterest or starting a podcast would (or wouldn't) work for your business, this episode is for you. Enjoy! P.S. You can binge-read all of Matt's business experiments from the last few years here: Moneylab.co/content

It's listener question time! From changing course in a dying industry to starting a business with a friend, Matt and Andrew debate the answers to your burning questions: What would you if your niche site was in a stagnant or dying industry? What are your favorite strategies for helping drive traffic to the newer websites you have built? What's the best side hustle to start right now? How do you set up and structure a business with friends? And how do you find your own Andrew or Matt? Keep your questions coming! We'll be doing more of these in the future, so head over to MoneyLab.co and email us your Qs to get yourself some As.

What does it actually mean to run a profitable business? Matt breaks down how he uses the Profit First accounting model to manage and allocate money made in his online business. Matt explains how he divides up his business revenue into certain Target Allocation Percentages and how this framework has helped him: 1) Pay himself more money as the business owner, 2) build up an account with reserves in it, and 3) have more than enough saved up for taxes every year. Matt and Andrew talk about how they pay themselves from their businesses and make sure they have enough of a buffer for lean times. If you've ever looked for a better way to divide up the money your business brings in, this episode is for you. Enjoy! P.S. You can see and download Matt's Profit First spreadsheet on YouTube. P.P.S. Check out the Profit First book here: ProfitFirstBook.com

Amazon just ripped the rug out from underneath every affiliate marketer, announcing their plan to slash affiliate marketing rates. And with just 7 days notice. Matt's business is set out to lose a whopping $176,929 with this change -- that's 40% of his entire business. So what does he plan to do about it? How does it affect Andrew? And what can every Amazon Associates member do going forward? Matt and Andrew spend the episode coming up with solutions in real time and trying to figure out the path forward. Enjoy! P.S. You can read about Matt's entire plan of action at Moneylab.co P.P.S. Matt and Andrew posted a video recording of this episode over on the Money Lab YouTube Channel.

Does low competition equal instant success? Matt just wrapped up his experiment to launch a podcast in a low-competition category. The goal: trying to naturally rank and gain listeners where there's no competition. Spoiler: it didn't work. So when does focusing on low competition categories work in business? Why are Andrew's low-competition niche sites taking off but something like Matt's podcast doesn't? Matt and Andrew debate when low competition pays off and when it's not worth the pursuit. Enjoy! P.S. You can read all about Matt's podcast experiment here: Moneylab.co/money-making-podcast P.P.S. You can check out the Rental Properties course Matt and Andrew made at Listenmoneymatters.com/rei