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Money Lab

Author: Money Lab

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Matt Giovanisci and friends drop the gauntlet of truth about being self-employed, serial entrepreneurs. They're not "teaching" how to build a successful company. Instead, they run business challenges and experiments offering a transparent view of what it takes to make money online.
261 Episodes
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I delve into the creation and testing of a new lead magnet for Swim University—a custom pool care plan. I discuss the development process, from using Typeform and Klaviyo to coding the plan in WordPress. I share early results from split testing this new lead magnet against our traditional cheat sheet, revealing higher conversion rates and the potential for better user engagement. Additionally, I explore the strategic benefits of this customized approach, including improved affiliate sales and more targeted marketing efforts. This episode highlights the value of innovative thinking in enhancing business growth.
I dive into an insightful email from Scott, discussing USPS package pickups, the pros and cons of renting office space versus working from home, and strategies for enhancing our pool care handbook packaging. I share my thoughts on maintaining efficiency in our shipping process, the financial implications of branded packaging, and the practicality of setting up a dedicated business space. This episode is a deep dive into optimizing business operations while balancing costs and creativity.
I realized that my custom pool care plan had a conversion rate of 2.92%, matching the performance of our original cheat sheet. After mistakenly thinking no one signed up, I discovered 10 people had subscribed by fixing an internal notification error. This promising result suggests that with better homepage copy and targeted split testing, the new plan could outperform the cheat sheet. The episode explores leveraging programmatic tactics to boost conversions site-wide and iterating on the pool care plan to enhance user experience and drive growth, emphasizing the importance of testing and refining strategies based on real data.
MVP Lead Magnet

MVP Lead Magnet

2024-06-1426:26

I talk about the decision-making process behind launching a new custom pool care plan on Swim University. After struggling with the homepage's effectiveness, I created a more targeted lead magnet aimed at pool owners. Initially planning a complex setup, I decided to launch an MVP version to gather early feedback. By breaking the project into manageable tasks and focusing on the essential elements, I quickly deployed the new feature, which collects valuable user data and offers a personalized pool care plan. This approach emphasizes the importance of iterating based on real user interaction rather than over-engineering upfront.
How to Eat an Elephant

How to Eat an Elephant

2024-06-1301:02:34

I discuss the concept of "How to Eat an Elephant" and explore the importance of breaking down big projects into manageable tasks. Reflecting on past experiences with Swim University, brewing, health, and home improvement, I share how embracing a calm, deliberate approach has led to greater productivity and reduced stress. By limiting work hours and focusing on core priorities, I’ve found a more balanced and fulfilling way to tackle both personal and professional projects. This episode is a candid look at how shifting my mindset has made all the difference in achieving long-term goals without the burnout.
I’m excited to talk about an idea I’m exploring for Swim University: transforming it into a calm company. Inspired by Justin Jackson’s essay, "We Need More Calm Companies," I’m reflecting on how Swim University can embody principles like profitability, purpose, flexibility, and sustainable growth. I discuss how these attributes align with my vision for a business that not only thrives but also enhances the lives of those who work here. My goal is to create a work environment that's stress-free and fulfilling, prioritizing quality over quantity and ensuring that we remain a small, efficient, and happy team.
Balancing work and home life while working with family has been a unique journey. I've worked from home since 2011, and it's had its challenges, especially being an extrovert who thrives on social interaction. My wife and I set clear boundaries, always prefacing work discussions with a question. She runs our YouTube content, and I act as the employee, following her lead. My brother, who works remotely, handles social media and emails, sticking to a well-defined process. We've found success by each owning our roles and maintaining a structured approach to our tasks. It’s been a learning experience, but it works for us.
I'm brainstorming a new mini-offer for my email list. This simple, compelling offer doesn't need a dedicated sales page; the emails will act as the sales letters. I'll send out two emails over a three-day flash sale to test the response. The emails will hook readers with the idea of firing their pool company, then detail the course and book offer, emphasizing the limited time to act. By excluding previous buyers and pool companies, I aim to target the right audience effectively.
Launching our new app, the Pool Care App, has been an exciting journey. Teaming up with an experienced developer, we’ve transformed an existing app into a Swim University-branded tool designed to simplify pool maintenance. From testing the water to getting precise chemical instructions, our app is all about eliminating guesswork and frustration. Unlike other apps pushing unnecessary products, our focus is purely on helping you maintain a clean and safe pool. This freemium app will offer essential features with more to come, making pool care straightforward and accessible. The Pool Care App is set to launch soon, and I can't wait for everyone to try it out.
The Future

The Future

2024-06-0656:27

I've been contemplating the impact of AI on the business landscape and how it's affecting independent creators like me. With companies like Google and Apple shifting their practices, the challenges of relying on SEO and organic traffic are becoming more apparent. Drawing from Swim University's journey and past market disruptions, I discuss the importance of adapting to new realities. Emphasizing a shift towards video content and maintaining a human touch, I explore strategies for navigating these uncertain times while staying optimistic and focused on delivering genuine value to customers.
I explore the process of designing a personalized pool care plan for Swim University, aiming to make our lead generation tool more engaging and effective. By focusing on user-specific routines and creating a dashboard-like experience, I want to provide a resource that feels truly customized. I discuss the steps involved, from asking the right questions to integrating interactive elements, and consider the potential of launching an app to enhance the user experience further. This episode captures my thought process and the excitement of building something unique for our audience.
I dive into the power of tuning out external business advice and tuning into my own intuition and experiences. By stepping back from constant tactical advice and an overwhelming amount of information, I've reconnected with my own ideas and insights. I stopped consuming business content, unsubscribed from channels, and put my business books away. This allowed me to focus on truly understanding the emotions and frustrations of my customers. I realized that applying my own experiences, such as my struggles with pond care, helps me relate better to pool owners and create more meaningful solutions. This shift in approach feels more authentic and impactful.
I share my latest realization about the Swim University home page. After discussing my own experiences with pond care, I decided to focus on offering a custom pool care plan instead of just a newsletter signup. I explain how I plan to implement this idea using Typeform, Zapier, and Klaviyo to deliver personalized plans through email. I discuss the technical aspects and benefits of this approach, emphasizing its potential to improve user engagement and provide more value. My goal is to create a dynamic, user-specific experience that enhances Swim University’s offerings and overall user satisfaction.
Focusing on the Swim University home page, I decided to transform it from a general landing page to a lead capture system tailored for pool owners. Historically, the page had a generic headline and separate buttons for pool and hot tub care, which wasn't as effective. I considered various approaches, including Klaviyo forms and offering a newsletter, but concluded that a quiz might be the best solution. This quiz would help users create a custom pool care plan by answering a few questions, making the offer more attractive and useful. The idea stemmed from my own experiences with pond care and the frustrations I faced. By implementing this, I aim to provide a more personalized experience for our visitors, ultimately increasing engagement and conversions. If you have any questions or suggestions, email me at matt@moneylab.co.
I'm discussing the ups and downs of March and laying out my plans for April. Despite a 30% traffic drop due to Google's algorithm changes, revenue increased thanks to effective Facebook ads. However, the high costs associated with e-commerce have made me rethink my strategy. My primary focus for April is optimizing my offers and sales pages. I’m testing new offers and improving our sales funnel to increase conversion rates and revenue. Additionally, I'm phasing out physical products to concentrate on digital products, aiming for higher profit margins. The goal is to simplify and enhance our core business, ensuring sustained growth and profitability. If you have any questions, email me at matt@moneylab.co.
I’m giving an update on the April Fools campaign I launched for Swim University. I created a faux product and promoted it across various platforms. The response was lukewarm; we've sold about half of the 96 bottles so far. Launching on April Fools’ Day may have impacted the reception, as people are skeptical of anything released on this date. While it's a fun, creative project, it highlights that in the pool industry, people appreciate straightforward, helpful content more than stunts. Moving forward, I’ll focus on delivering valuable, consistent content that truly addresses my audience's needs. If you have any questions or thoughts, email me at matt@moneylab.co.
Today, I’m sharing how I’m optimizing my work schedule to better manage my time and reduce stress. By focusing on concentrated, high-leverage tasks for a set number of hours each day, I aim to maximize productivity while freeing up personal time. Tasks like crafting marketing emails, recording and scheduling podcasts, publishing articles, and developing ads are prioritized. The goal is to create a well-oiled machine at Swim University, ensuring impactful work without overextending. Simplifying and systematizing my approach, I’m committed to balancing work with hobbies and home projects. For feedback, email me at matt@moneylab.co.
I'm discussing the best ways to collect testimonials. Tactics for effective testimonials include avoiding incentives that offer monetary rewards, guiding customers with specific questions, and focusing on quality over quantity. Video testimonials, while valuable, should ideally be filmed in relevant settings and show real results. For e-commerce, external review platforms like Trustpilot are beneficial, but I prefer controlling testimonial presentations. Finally, using social media contests to gather authentic customer reviews can be a powerful strategy.
Brainstorming a pool urine detector 404 page and April Fool's event, I share how to design an engaging sales page for a fake product. Inspired by the myth of a pool urine detector dye, I discuss creating a convincing product to deter pool pee-ers. The sales page includes a hero image, how it works, history of the myth, pop culture references, and statistics on the dangers of pool urine. I also explore the importance of design and storytelling in making the page both believable and entertaining.
I discuss the challenges of creating effective marketing for local businesses, emphasizing the need to understand the target audience. Using Swim University as an example, I highlight the importance of aligning content with business goals and audience needs. I explore the potential of Brew Cabin to attract new homebrewers with community-driven content and advanced brewing techniques. Finally, I brainstorm creative ideas for engaging short-form content, including experimenting with unique and outrageous brewing ingredients.
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Comments (2)

Lars ØLB

Awesome episode! Keep at it guys, really enjoy your style and format!

Mar 25th
Reply

Alex Carr

Never beatbox again.. Either of you.. ever..

Oct 10th
Reply