Affiliate marketing roles in future
Affiliate marketing: The key to building the business is the affiliate marketing campaign, which allows people to buy your product. Look for brands that are good at doing affiliate marketing.
For instance, if you use a lot of products from Tommy Hilfiger, for every product you buy Tommy Hilfiger will send you a voucher code for a product for free. If you buy an Apple MacBook, Apple will send you vouchers for two free screen repairs. Affiliate marketing can help you sell hundreds or thousands of units.
I’m currently running a cashback campaign for Moo loos, where people can buy my water purification kits, and they can get a 50% cashback. That means they can get a full one-year warranty for about $70, which means they can get around $250 off my products. I don’t know why companies haven’t done this before. People like cash backs because it’s money they’re not spending on me, but it’s still money that I earn.
Note: Read about Jason’s other life as a small business owner in The Value of Outsourcing.
Advertising: Some people get hundreds of thousands of dollars from Facebook. Other people make zero. Some people get offers of retweets for a lot of money. Some people have thousands of likes and followers who retweet and share for a lot of money. The key is to know your audience. I’m a very smart guy. I can reach anyone on Facebook and Twitter, and this is an area that I like to focus on. To put it bluntly, that’s what marketing is. If you can master it, and you can show what you’re doing, then people will buy from you.
My First Build-A-Bear:
A product I’m very proud of is My First Build-A-Bear Workshop. This is a little stuffed toy that I came up with for girls, which uses My First Dinosaur, a best-selling board game by Leapfrog.
This little stuffed toy actually came about because of my daughter, who’s five years old. She loves playing the board game, and I got the idea to put it on a plush toy. I made a prototype and I started posting it on social media, and it was amazing. Almost all the responses I got were positive. I made 100 of them, I sold them for $15, and I made about $400. But I then sold the design rights to a company for a lot more than $400, so that was great.
For me, it’s about making something that my audience actually likes. For example, for My First Eco Products, I did an extremely successful sand-paper pen that uses recycled paper. That’s a great thing, but it doesn’t make much profit. For people like me, it’s all about making something that people like. If you can get that, that’s really profitable.
I sold them for $12 to $15. That’s a profit of $3 to $6 per pen. If you sold the pen for $30 that would be a profit of $14 to $18 per pen. So I did the math, and you make $3 profit per pen, but I sold the pen for $12. You only make a little money on each. If you sell a million of them, it could be very lucrative.
My girlfriend makes it very difficult for me to go into toy stores or toy websites. It’s really hard to sell your own product.
At the end of the day, I don’t care about profit. I care about making something that people like.
Timeline of Accomplishments:
2016: Tell us about your introduction into entrepreneurship.
My life is a bit different than most. I went to public school, which is unusual in Indonesia. I grew up in Jakarta. I lived in the high rise building called Sukarno. My parents had a business where they sold purses. We sold them at our office, and I worked with them from a very young age. After that, I studied IT at university. My parents did not put me through university, because they didn’t want me to do anything that would interfere with my job as a web developer. I worked in an IT agency for seven years.
What did I like about IT? All the silly things, like changing computer terminals, which were very difficult and very expensive. All the reports were much harder to make. I actually had to program some reports to print out, and it’s quite ironic that I’m in IT right now.
Since my first job, I wanted to make a difference in people’s lives. I wanted to make things easier. When you use an "ATM" machine, you probably have 30-50 keys that you need to press to make a transaction happen. But I realized that a lot of people don’t know how to use an "ATM". So in 2007, I started to offer technical tutorials for people who were having problems with their ATM.
There’s a wide range of tutorials on the site. I wanted to offer one thing that made life simpler for everyone. This one is very easy to use. It’s very simple and it’s superfast. It teaches people that they can simply press this button and have money appear. All you have to do is press this button, pull up your card, and the money is yours. So that’s the key step.
But the "ATM" machine is there to allow you to transfer money from your account, not to deposit money in your account. So if you have a card that doesn’t have your debit card on it, you have to find a way to insert that card. If you don’t know how to, you will probably end up losing your money. Or maybe you can just exchange it with another "ATM" machine.
That’s why I created my online tutorials. I started with an online site, and I wasn’t sure if it was going to work or not.
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