TMBA 042 (LBP42) – [Use at Your Own Risk] Develop a Revenue Stream with the PIVOT Method

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TMBA 042 (LBP42) – [Use at Your Own Risk] Develop a Revenue Stream with the PIVOT Method post image

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YO! How are you? I’ve been back in the old USA for over one week now and I’m having tons of thoughts about it (its been over a year!) I hope to write a few blog posts about it.

In this episode Ian and I discuss concepts that regular listeners of the show are probably pretty used to hearing from us. We currently have a lot of overhead in our business and we are exploring ways to efficiently deploy our staff to stuff that makes us money.

Last month we had a nice little revenue hit from a new product we developed using what we call PIVOT: Position, Iterate, Volley, Outsource, and Time. If that sounds like a big fat put-on, it kind of is, but we had fun using it as a structure to talk about the way we got this done.

Also there are lots of random little tidbits in this episode plus an impassioned rant during the quick tip section. Interested to hear your thoughts! I’ll be in NYC all next week doin’ some biznass and meeting old friends, if you are around LET ME KNOW HOMIES!

Poolside with Fast WIFI! Weeeeeeeee

Hello from the good old USA, I believe this is our first 100% USA ‘cast in over a year. Yeowwwza! This is a big long episode where we talk about a wide variety of topics. In particular, we talk about why I believe Virtual Staff Finder is currently the best way to get started hiring virtual assistants in the Philippines.

Mentioned in this episode:

People in this episode:

Call us with your questions or comments at 888-554-8428 .

Episode length: 30:17

Listen to this episode.

If you’ve found the podcast at all helpful or entertaining, we’d love if you could click over to our iTunes page and give us a positive review. This will help us to get more listeners and invest more in the podcast! If you know some ways we can make it better, please send us an email. Dan at lifestyle business podcast . com.

The Outer Banks in North Carolina USA

 

Published on 09.27.10
  • http://joelrunyon.com/two3 Joel Runyon | [BIT]

    Thanks for running my audio, but calling me out Dan? Now it's on! :)

    2 sentence wrapup of my argument is: Tweetadder sucks if that's all you're doing but if you don't have a conversion point besides a reciprocal follow [and LOTS of people don't <<— Important Distinction] then it's useless.

    The volley idea is gold. Unless you're Steve Jobs you'll be amazed at the gap betweeen the things that YOU thought your market wanted and what they actually wanted.

    Also, seriously contemplating a kindle right now…tired of having tweetdeck get in the way of my reading :)
    [Also, love your emphasis on reading in general, always surprised by people who don't do it.]

  • TropicalMBA

    Haha didn't mean to be a call out! I am seriously considering jumping to SU.PR based on our conversations, but then again I am lazy and I still don't like dashboards.

    The volley point makes tons of sense for me because I'm such a weirdo I actually need to get talking and selling to folks before I can understand where they are coming from.

    DUDE KINDLE! doooooo it.

    I feel bad blabbing about reading because people who don't do it can sometimes be offended (you sayin' I'm stupid!?) Its basically always been the center of my life so I can't help gushing… I'd at least like to push a few non-readers in to audio books…

    Also I've been enjoying BIT lately things are heating up over there !

  • http://musetraffic.com Jaymarsden

    It was interesting to hear your take on auto-following. I've been slowly writing a blog post on social media platforms and strategy over the past month, testing out each element and the only factor I can't figure out is the question of “to not follow” or “auto-follow”.

    I've found it hard to find a case for not auto-following because even that the traffic is un-targeted and non-relative due to the lack of relationship they still seem happy distribute my content which makes for a free source of traffic and a way to build more authority in your marketplace.

    On the new blog I have personally gone for the I will follow you if you help my cause formula, though I may have to take it back to the white board after listening to the podcast but on sites that are making me money, I'm an auto-follower. I think there's a case for both systems, why limit yourself. As my old man always says the smartest person in the room is the person with the most options.

    Awesomely epic podcast as always and thanks for all the shout outs this week, by the way I'm not coming on the show until I get Ian to follow me…….

  • http://www.thewaythatyouwander.com Nate

    Great episode, guys! First off, I'm not overly fond of su.pr. I work on a pretty slow internet connection, and having to load up all the toolbar shit slows the process down even more. Then exiting out of the toolbar reloads the page. Just a personal issue of mine.

    To counter that negativity, I'm happy to see a link to Kitchen Confidential! One of my fav books.

    The PIVOT method you guys spoke about is so smart. What a great way to leverage off your current success and eliminate the hassle of getting into a brand new market starting from scratch.

    I think I'm going to do a little bit of experimenting with elance and getting a list of contacts made. For the last couple of days I've been building up a list of potential affiliates for my product, and to be honest it sucks. It's an easy thing to do, so I think I'll outsource it and work on more productive things. THANKS for that tip.

  • http://joelrunyon.com/two3 Joel Runyon | [BIT]

    Haha, it's cool. I'll forgive ya :). Try out SU.PR for a couple links and see what happens [volley it, if you will, and see what works].

    Reading is the biggest generator of ideas for me =) I find the more I read, the more creative, inspired and motivated I am :).

    Thanks for the kind words.

  • http://www.lifestylebusinesspodcast.com/ Ian

    Jamie, I'm following baby! Please come on the show, peeps need to know about you! BTW, your first post is excellent, love the graphics. I just searched every page looking for a twitter link, what's up with that?

  • http://www.lifestylebusinesspodcast.com/ Ian

    Joel, thanks so much for the itunes review. It means a lot.

  • http://joelrunyon.com/two3 Joel Runyon | [BIT]

    No problem :) thanks for doing a killer podcast.

  • http://www.heroicdestiny.com David Crandall

    It's funny that you are all about Tweetadder for the advertisement from more eyes, but you have been reluctant to use Su.pr. The easiest way to use Su.pr is to use the bookmarklet. You can literally click it on any webpage and it drops down a toolbar with the URL in it. You can either tweet directly from there or click 'Just Shorten' and then copy/paste it to your preferred Twitter client.

    doooooo it! ;)

  • http://www.heroicdestiny.com David Crandall

    As always, listened to this in my car. However, I can't wait to get home and re-listen to it with pen and paper. You guys gave so much amazingly useful information in this podcast!!! The whole PIVOT thing is priceless and yet another example of the fact that you two are actually DOING business and not just talking theories or conjuring up the “Top N Best Practices to ____”…which are also just theories to most people. LOL

    I'm so glad you like the Kindle. I have been debating getting one for some time since I've not known many people who use one. I tend to read 1 to 2 books a week and think it would be great for me. Much easier to keep everything with me and I think they tend to be cheaper, yes? What's your experience regarding highlighting stuff that stands our or taking notes within the pages of the text? I know there is some capability to do this; curious if you have.

    So much in this podcast! You guys continue to top the charts of my favorite online places to go. :D

  • TropicalMBA

    Heyo Nate, I agree on the toolbars I've also heard a lot of ppl in the developer community bitch about the usability of them, but Crandall and gang are making some good points so I think I'm going to try it out for a week or so and see whats what. That's cool that you love Kitchen Confidential, I really think no reservations is incredible and I had no idea that he was an author too, great book!

  • TropicalMBA

    haha thanks Jamie. I like the business auto-follow approach, I think it makes sense. Probably makes sense to focus on more viral twitter follow approaches, but for the daily grind I'd vote auto-follow. Worse case you can always hire somebody to unfollow a large list if you want to improve your ratio.

  • TropicalMBA

    Think I'll give it a go Joel.

  • TropicalMBA

    haha thanks David. Oh man this week Ian and I are getting beat up, I think next week's episode is going to be the SUCK technique. What Dan and Ian are doing wrong. :::sigh::: Thanks for the shout now back to the grind!

    Regarding the Kindle: I can't imagine you not liking it, you'll save money on individual purchases but you might end up buying more books. Another thing you can explore is getting free kindle copies of books around the web (I'm sure you can download pirated stuff, I haven't looked in to it, perhaps you could make up for your tresspass by sending personal thank yous to the author !::) , also classic books can be as low as 2 dollars a copy.

    I haven't done any highlighting or notes yet, but I have noticed that you can see the passages that most readers commented on. I thought hot damn! but haven't followed up on that capability. I imagine “community reading” type functionality will be taking off in the near future. One other cool thing about the kindle is that my whole library is also on my iphone kindle app so if I'm feeling peckish in a waiting room or something I can dig in to some book jams.

  • http://weteachfacebook.com/ Troy

    Great podcast. Appreciate the shout out!
    Ian,
    What brands/flavors of yerba mate have you tried? There are a ton of options out there with a variety of flavors if you're not big on the traditional.

  • TropicalMBA

    Thanks Troy. I've had some stuff I've liked okay, I just can't get past how delicious coffee is! On a side note, the universal appeal of tea is lost on me. DIet coke, coffee, beer, I get, but tea! Common!

  • http://weteachfacebook.com/ Troy

    Haha. I guess it was a lot easier to get hooked on it in Buenos Aires where it's cheap as dirt and the yerba section is as large as the coke section of a Walmart. Plus you're drinking it with the bombilla and all, unlike the typical teas here.
    I have found it interesting, though, that mixing up sources of caffeine every now and then does spike creativity.

  • http://www.SimplifiedEcommerce.com/leanstartup Colin8ch

    Thanks for the shout out and another awesome podcast guys!
    I really like your process for 24 hours to PIVOT to a new product. Iterating step by step to get a product out in the wild quickly to evaluate it's marketability from your customer feedback is a great recipe for success. You can do this online so fast and easy now, so you can avoid throwing a blind “Hail Mary” with a new product.

  • http://www.lifestylebusinesspodcast.com/ Ian

    Troy, the kind that tastes bad…I'll have to look for those other flavors.

  • http://www.SimplifiedEcommerce.com/leanstartup Colin8ch

    I sent below in an email in to Dan and he recommended I post it here and share it with the lifestylebusinesspodcast.com readers:

    You guys are kickin ass, 6000 down loads, thats great! I didn't want to spam the comments on your blog with this, your latest podcast really hit on a topic that I'm passionate about. We are targeting our business and products to support your PIVOT concept, the lean startup and customer development processes to make it easier, faster and less risky to introduce and evaluate new products.

    http://www.simplifiedecommerce.com/leanstartup

    We are a startup ourselves and in a beta phase, gathering feedback from users and prospects. I love to hear from people like you, who are actively iterating and pivoting their products, about what they need from their payments provider, what they like and what sucks about who they're using now.

    BTW, I just got introduced to http://www.unbounce.com, I haven't tried it out but it looks like a a quick, easy way for those who aren't or don't have web developers to test products and landing pages, it might be something your audience can use.

    Thanks, keep kickin ass,
    Colin

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