Would you like to read the second part of the interview with Sergey Kasimov and Jerry Banfield, because you will love to learn what works today in making money online?
Sergey Kasimov Interview -- Part 2
You may want to read the first part of the interview: Does Getting Banned Lead To Greater Earnings Online? Sergey Kasimov Interview!
Let’s get started with the second part of the interview with Sergey Kasimov.
Jerry: You leave us to a good question then because how do you differentiate when there’s something new like Udemy when it was new, I put my course up for months and hardly made any money on it at all.
Let’s get started with the second part of the interview with Sergey Kasimov.
Sergey Kasimov Interview -- Part 2
Jerry: You lead us to a good question then, because how do you differentiate when there’s something new like Udemy?
When it was new, I put my courses up for months and hardly made any money on it at all?
How do you tell the difference between something that is either a scam or a waste of time?
Like it’s a startup that’s never going to go anywhere and succeed versus something like Udemy in 2014, which had promise, but there were lots of other websites I’ve seen like Udemy that had promise that went out of business and never made any money.
How do you spot a 2014 version of Udemy now, like a website where if you started putting time and energy into it now and it grows, then you grow with it?
Sergey: Well, there are two things and the first one is eCommerce where you sell physical stuff and that’s been proven to make money for a very long time. It’s like going to an actual store and buying something, but it’s done online.
That’s how people make money on Amazon, Etsy, FBA, Amazon FBA and eBay.
So, that’s a proven method.
The next eBay, the next Etsy would be actually Shopify.
Shopify is the next best thing and that’s one way for you to do the eCommerce. That’s the thing that’s got started and lots of people jumped on it.
The people who jumped on Shopify before everybody else are millionaires, that is actually true because they have a good product, they’ve been selling it on Etsy or eBay.
But the problem with eBay specifically, not with Etzy, is that when you go to the eBay site, right under it, it shows you all your competitors.
You’re competing in price because of all those ads all around it, and so you’re trying to sell the cheapest possible product on it.
I’m usually selling unique products, so that doesn’t really bother me as much. But other people are selling what everybody else is selling, which is part of the problem.
On Etzy, it sends you to one site, but you can get out of that site and see other things on Etsy.
On Shopify, it’s only your site.
So either you buy from it or you don’t. If you go in there and you like the product and you buy, you get the sale.
Shopify is the next best thing in eCommerce.
Now, you’re talking about digital goods, which is totally different from physical.
So physical, you ship them. Digital is the next best thing because digital you can take an online content and you sell it.
What Udemy did, it took something like ClickBank. It used to have all this stuff for years on ClickBank, you have to manage your payments, you have to manage the refunds. It doesn’t do all fall you.
Udemy, same thing, Skillshare, it does all the payment processing for you too. So you’re talking about the next best thing to that, which is actually exactly what you’re doing, Jerry, your own thing, because you can’t compete against your own competition.
So finding those as a start up, you will become the startup.
Practically, all you’ve been doing is wasting time on all those different platforms, websites, giving them all of this marketing and you spent over a hundred thousand dollars promoting the websites and you could have been promoting your own and becoming already rich.
So let’s talk about gambling here now.
You don’t build someone else’s business. You build your own business.
You don’t have to make this choice, what you’re going to be doing.
There are so many awesome startups over there. There’s definitely going to be the next big thing to Udemy someday too.
But it could be that Udemy will still be number one and it’d be the best, just like eBay, which is still number one.
Everybody who stayed with eBay over the years, people are still making money. The same thing with Etsy. Those sites are big and once they get this big, they get bigger and bigger, like Amazon became huge.
So that’s one of the things, but spawning some of them, a lot of them are failures. We all know that. Most people who start businesses fail or the same executives fails too because they don’t have what it takes and they fail many kinds of ways.
They don’t know what they’re doing. They’ll refuse to listen to anybody. That’s the big thing. They will even refuse to listen to the best. They think they know everything when they don’t, that’s another reason. They take out too much loans and they’re not making money.
The worst thing you can do in business is having a great idea, think it’s a great idea, but it’s not a great idea. They put all their money into it and keep on putting money.
We see those people on Shark Tank and every single time you see them on Shark Tank, they always kick them out and they give them a no.
They actually tell them like, “You know what? Your business sucks.”
You’re just wasting all this money on a dead beat business. You have a great idea, you have great execution, but you’ve got the wrong product.
That is actually some of the number one problem.
We have people who are pushing a product that doesn’t work. All they need to do is modify it, but instead they just keep the same product over and over and over again.
There are so many things that you can do wrong in business and I didn’t go to business school. I’m a history major, not business.
How do you know this stuff?
I made mistakes. I made all those mistakes and I figured out what I did wrong, and then I try not to do it again. I read books. I read a lot of books about this stuff, about sales, about how to sell stuff, and all this stuff I did was outside my major. I didn’t take any business classes and I should have taken them, but I didn’t.
I was like, “I’m not going to do any business. I don’t care about money, I’m just going to be teaching and I’m going to get paid.”
That was my deal and it never happened, but now I’m still teaching and I’m getting paid, but I’m getting paid on commission, and I’m trying to make more on YouTube.
I’m thinking YouTube is the next thing for me because it’s the same as Udemy, but I get to do what I like to do.
I get to teach people all kinds of stupid stuff I can teach. I’m not going to be limited by teaching them something specific and I’m not limited to teaching a specific curriculum, which when I was a teacher, you have to teach that one curriculum, and then the students have to do good on this too.
The best thing about being your own boss is exactly that.
No more alarm clocks, I turn it off. I don’t use an alarm clock anymore. So what I do, I just go to sleep, and what I do is black out the windows at night. I put something, cardboard at night on all the windows, so it’s super pitch dark.
What happens is, in the morning the sun comes out, the light starts to shine and you’ll automatically wake up by yourself. You don’t need an alarm clock. I wake up at the same time every morning almost. It’s like six or seven o’clock, and right now, I go to sleep around maybe 10, probably 11 o’clock usually.
The funny thing is I don’t use an alarm clock and I wake up because I never had this happen before when I was working nine to five.
The great thing about not working nine to five is I get to play with my dog. I get to do whatever I want. I get to go to bathroom breaks.
You get to eat when you want, you can exercise. You can put as much time or as little time as you want into your business.
Thank you very much for watching all of this video with Sergey and with me. We hope you enjoy it.
I think you’ll love following Sergey online given you’ve spent so much time with us and you can hit that subscribe button to follow him on YouTube.
He also teaches on Udemy and Skillshare, and he sells products on eBay and Etsy. You can find him on any of those places if you’d like.
What I’ve found that makes a huge difference for me as an entrepreneur online to get through all of the kinds of adventures that Sergey talked about before is to have people I work with and that talk with me, help me and give me ideas, like Sergey who’s just sent me probably a thousand messages with different feedback and ideas.
He watches videos I put out when I post something new, he gives me feedback on it.
It’s having that kind of a support group online that leaves it looking like I’m superhuman sometimes. How I consistently find these great new opportunities, build up platforms and profiles and even when they get taken down, build up something new.
That’s how I have so much helping guidance and that’s how I stay motivated. That’s how I don’t get burnt out. That’s how I am so excited to show up and always have something new to share, have so much passion in what I’m doing and the way I am available to help you best with that is I’ve got a partner program.
It’s at Jerry banfield.com/partners, the main value proposition I think it has is a lifetime coaching offer. I’ve made it lifetime because I see that’s what you really need and that’s what I’m prepared to offer the best value in.
When I think about things that are 3 coaching sessions or 6 or even 9 or 12, those are so transactional, where, “Okay, well let’s just finish this up and get it done, and then onto the next customer.”
Lifetime, that’s what you really need. If I look back over the history of my business when I wrote the very best value in the world I could have gotten, would have been to have found someone offering exactly what I’m offering.
Now that I have eight more years of experience, I would have loved to have worked with and then put the money into that instead of into all the other things I put into, which I not only got nothing out of, but I didn’t learn anything valuable out of.
For example, buying $5,000 of GoDaddy short .com domains and spending a year trying to sell them and losing $4,500 doing that, plus spending a bunch of time and energy.
Things like that, a coach could have said, “Eh, you think that’s worth your time?”
I also have Private Label Rights with my partner program, access to all my courses, ability to private message me and I scale this coaching and lifetime option by increasing the price 3% every single time somebody buys it because obviously one person buys it, I can handle that.
30 people buy it, then the 30th person’s going to need to have paid a lot more than the first person to keep this so it doesn’t get too popular.
That is my top offer and I appreciate you listening to the entire sales pitch for it.
I trust that you will feel compelled that you have to go in there and join and get started.
If you’d like to sample it, you can schedule a call with me at Jerrybanfield.com/contact and what you pay for that call will be applied towards the partner program if you decide to join.
Thank you for reading this.
I love you.
I appreciate the chance to serve you today and I will see you again soon.
Jerry Banfield with edits from video transcript by Michel Gerard.