Finding Growth Channels Where Your Competitors Aren’t Looking with Davis Nguyen

Talking about multiple channels for marketing, not just relying on one – this week is also a good one. We had a lot of really good conversation with our podcast guest for today, Davis Nguyen. He is the founder of My Consulting Offer and a marketing expert. He is sharing with us some insights about how to, how he’s done it and how others can scale up and really grow their business. Let’s take it away.

√ Davis Nguyen’s VIP Expert Page
√ Davis Nguyen’s personal blog
√ MyConsultingOffer.org – Davis’s company
√ JumpCut startup
√ Y Combinator
√ Book – who moved my cheese
√ Traction book – Gabriel on channels
√ Traction book 2 – More on SOP
√ Mike’s blog about his wife and kids in China during CoronaVirus
√ Cross Border Summit in Thailand – Nov. 19-20, 2020

This show has been amazing. Thank you Davis for sharing openly about all this. I’m sure the people who listened learned a lot. Davis’ a really smart guy and he’s built an amazing business.

Alpha Rock Capital just raised another investment and it was a successful one. It’s a pleasure to be a partner here and I’m down here in Manila, spending much more needed FaceTime with the team.

If you’re interested to get some exposure to Amazon FBA without actually having to get involved in the daily operations, investing in alpha rock is a good opportunity. Check it out at www.alpharockcapital.com and there is a connect button where you can connect with one of our business development people.

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[00:00:00] Episode 291 of the Global From Asia podcast, talking about multiple channels for marketing, not just relying on one. Welcome to the Global From Asia podcast where the daunting process of running an international business is broken down into straight up actionable advice. And now your host, Michael Michelini. You know, preparing for these little intros and outros for each show.

[00:00:31] You know, this is usually a few days before the podcast goes live. And, it’s been a rough few days. I, I’m getting choked up thinking about it, but I think, if you’ve been following my story, I’m here down in Manila, spending some time hustling with the Alpha Rock team and my wife’s dealing with her mom dealing with cancer in China

[00:00:51] like we agreed. And then this Corona virus popped up, out. You know, it’s it’s been talked about for awhile, but as of now, mid, mid to end of January, 2020 it’s become a massive nightmare. Uh. Flights here are being canceled, things are getting shut down. I, uh, I talked to her on WeChat just a few hours ago with video, and they’re like a, it’s almost like a quarantine in their ah, complex.

[00:01:18] She’s up in Shenyang and everybody’s fine. Everybody’s safe and healthy. Uh, but basically they can’t leave or enter that apartment compound, you know there’s like, uh, I dunno if 10, 15 buildings, you know, and the gates. They’re really strict about entering or exiting the compound. And, uh, it seems like it’s really spreading bad.

[00:01:40] And I dunno what I’m, what am I supposed to do? Of course, go back. They, it’s quarantined. I can’t even enter if I wanted to and a, and what makes you think like, should I have left my wife and kids in China? I mean, some we had talked about now. It’s really scary, honestly, but don’t harp on this too much.

[00:02:04] Let’s get into the show. This week is a, it’s a good one. We had a lot of really good conversation. Davis Nguyen. He is a My Consulting Offer expert. This guy is a marketing expert. Growth hackers, maybe what you can call it, and he is sharing with us some insights about how to, how he’s done it, and how others can scale up and really grow their business, um, and not rely on one, especially Amazon sellers and others are just doing an Amazon PPC and, and hoping that works.

[00:02:31] But this, this show gets you some ideas and insights. So let’s, let’s take it away. And if you want to hang out after, I’ll, uh, I’ll share some of my experiences with this coronavirus and also some marketing channels, you know, in a blah, blah, blah session. Thanks. Let’s tune into the show. Are you looking for something awesome to do?

[00:02:49] And then mid of November, we have our fifth annual cross-border summit, and it seems like it worked out. We moved it to Thailand, Chiang Mai, Thailand, venue’s all set up, and it’s going to be an amazing, amazing thing. Uh, tickets are not yet open, but definitely saved a date. We would love to have some of you there, members have.

[00:03:08] First opportunity and we want to get some amazing people, a lot of the guests. So we’ve been talking to, are totally interested to come and speak. We have just an amazing lineup about cross border e-commerce, cross border business between Asia and the world. Hope to see you there. Thank you everybody for choosing to listen to another Global From Asia podcast, get up, say to the 300 number, but uh, and it keeps getting better and better.

[00:03:32] And today we have a good one. Tommy Griffith. Uh, he was also on the show earlier and connected us to. Davis Nguyen. Thanks for being here, Davis. Now, Mike. Thanks. Ah, thanks for having me. And then episode 300. Wow. I, I’m honored. Yeah. Well, I mean, not exactly three. I, uh, I think we’re getting almost there, but yeah, it’s an honor to have you, man.

[00:03:52] Glad you’re honored to be on. Um. So there was so many things we could talk about. Uh, we do have time. I mean, you might maybe be invited again cause I feel like there’s so much we can talk about and so many, it’s just amazing value you could share. But, um, maybe you can also, before we dive in, we’re going to talk about growth channels and, and maybe where your competitors aren’t looking, as our topic. But before we get into it, you’re from your company’s My Consulting Offer, um, do you want to give a little bit of background about yourself and what you do?

[00:04:21] Sure, absolutely. And before I give an overview of My Consulting Offer. I’ll give you a little brief information about my, my own family history, as well as how we ended up with My Consulting Offer or how I ended up. I’m like, starting off for it to give a little bit of context about the history and then to give the viewers a what to, what, the listeners a preview of what to expect.

[00:04:37] Or if they’re like, Oh, Nope, not interesting to me, and they can turn off, then watch a better episode. So, uh, my, uh. So I grew up in the United States. My family’s originally from Vietnam, escape from the political. They were political refugees from the Vietnam war. And why is this so important? Is that when you’re a political refugee, you don’t really quite figure out what you get to do when you get to the United States.

[00:04:59] So we were lucky enough to settle down in an area South of Atlanta. And my, my parents, my grandparents moved from my parents here and my uncles, they were all basically laborers when they started. So you can imagine like we were working in the factories, we were working in the, like my grandma was the baggage carrier at Delta for the Hartsfield airport back in Atlanta.

[00:05:19] So basically all manual type of labor. But my, my grandma decided, well, the real path to being able to provide for your family was through entrepreneurship. It’s kinda like high risk, high reward. So my grandma took all the money that she saved up from carrying the bags at Delta for a number of years. It actually opened up, eventually opened up a nail salon in our, in Southside Atlanta, which at the time didn’t have any.

[00:05:40] And the reason why this is so. I just, like I said, my grandma had never done nails before. She just knew. And I was like, Oh wow, I can learn how to do this, to do manicures and pedicures. And it was also in the Southside of Atlanta, which back, nowadays is a little safer. But back then it wasn’t the safest area.

[00:05:54] And early on, my, my grandma really inspired me, this idea of entrepreneurship because she’s kind of like, you’re providing a service that doesn’t exist. And it’s kinda like my grandma wished that somebody could do manicures and pedicures for her. And that’s how she had started. But what really resonated with me is that during the first couple of years, so I was, I was toddler.

[00:06:08] During this time, so under five, but my grandma would open the store and a couple of things would happen that she faced everything that an entrepreneur would normally face. Like for example, not knowing your market, having these difficult decisions, not having enough capital, but more importantly than that, was that the markets you was operating in also made it hard for her.

[00:06:24] Like for example, I remember sometimes when my grandma would describe these conversations years later that there, when she first opened, she was robbed. It’s like twice. As this little woman was robbed, like at gunpoint twice for the store just because we’re in a bad part of the neighborhood and she’s also really easy pickings.

[00:06:43] Right? Because again, immigrant, very tiny woman, and of course people stole from her, employees stole from her, is like figuring out all these things out. And there was a one time, I remember they had the store actually burnt down cause of an arson as well. Somebody who, the neighborhood did not want us to be there.

[00:06:56] And, but every single time my grandma would just pick up the pieces and literally reopen up the next week despite everything that was happening. And it really instilled in me that if we can make it happen, if, if my grandma could do that for our family and now should be able to do it. And my grandma’s goal, of course, was to provide a better future for my cousins and I, her grandchildren.

[00:07:13] So to be able to go into education. And unfortunately, the school system we grew up in was actually called the worst school system of the US so I, my, my high school, my high school and my school system, we literally ranked at the bottom of everything because of where we were growing. We were mostly minority single parent households, including myself, and it was just like if you put a bunch of minorities, African Americans, Hispanics, and they had political refugees in the area.

[00:07:35] It’s not like we don’t have someone to teach us like, exactly what you’re supposed to do, like my grandparents didn’t finish high school. My mom didn’t finish third grade, so it’s not like education was instilled in me versus. I think, but I always thought that education was the way out, which I still think is today.

[00:07:49] So, but I always had this dream that I would go to a really good university, cause I didn’t even know what universities were because my grandma’s like, Oh yeah, I guess you’re supposed to go to college. I think that’s what you’re supposed to do. And I was like, well, okay, well if college is what I’m going to do, okay, I’ll do it.

[00:08:02] Because I trust grandma. Grandma knows what she’s doing. I just, if I had gunpoint and a fire, so she does what she’s doing. And so, uh, I, I. I want it to go to the best universities. I remember asking, asking people what are the best universities, and I remember watching TV and these two names always popped out, which was Harvard and Yale.

[00:08:19] I have no clue what they are, but I’m like, okay. People talk about Harvard, Yale, or something about the President is being at Harvard and Yale. Okay. I guess I want to be there as, I don’t know how hard it is, but coming from this low income background. Eventually. This is never a whole story for a different time, but also short.

[00:08:34] I figured out a way to get into both Harvard and Yale, despite growing up in this low income community where people don’t go to college and eventually get full scholarships to both Yale and Harvard ended up choosing Yale because, well, part of it is I like blue, the color blue, and also second is just, I felt the culture was there.

[00:08:50] So, uh, w when, uh, yeah, so when I was at Yale, just get into the business is that I never had mentors up to that point because my, my community is kinda like very isolated. I think of it this way. When people think of lawyers, I thought, Oh, divorce lawyers, injury lawyers. Yeah, we have plenty of those back home.

[00:09:05] Why are you going to Harvard law school or YALE law’ school going to be a divorce lawyer. I did have no clue. Or like people would say, Oh, I want to be in banking. I was like, wait, but I have high school friends who didn’t go to college. They’re like bank tellers right now making $11. Why? Why do you want to go to Yale?

[00:09:18] Just to make, say, I was so out of it, right? In terms of the realm, but one of the things I was out of the realm of was what’s called consulting. And consulting is basically what we do at My Consulting Offers. We help people get into a job called management consulting. So for anyone who’s listening, who’ve never heard of management consulting is, think of it as, it’s similar like a SWAT team for business.

[00:09:38] So for example, if the CEO of Pepsi or the CEO of Coca-Cola or Apple, Google, whatever needs help with a business problem they can’t solve, they will hire in a consulting team to come in and just basically solve their problem. And I was, the first job I had out of college was working at a company called Bain and Company as a management consultant.

[00:09:55] And why it’s so hard is that a lot of Ivy league students. Then students from upper top universities want this because you’re at 20,21 you’re already making like six figure job or six figure career in USD, and by the time you’re 30 you’re making like half a million dollars, and this is before bonuses and things like that.

[00:10:09] So it’s like a very lucrative career. I think somebody told me, I modeled this out where like the average lifetime earnings of a management consultant, even if you only do that for two to three years, is about $8 million in income over your lifetime, which is like way above average. Right. And of course, saving money is different from earning money, but that’s a different conversation.

[00:10:27] But that’s basically the career I had, was I worked in consulting at Bain and Company for two years after graduation from Yale and then, but I always had this inkling for being an entrepreneur or similar to my grandma by using consulting to build up that skillset that I, my grandma would have wished she had like exposure to cutting costs, exposure to launching products, and eventually worked at Bain for two years and then left Bain to join an education startup.

[00:10:52] So I’ve always wanted to work in education. Like my summer internships were all education in college because I always believed that education allowed me to get to where I was at Yale and I want it to be able to provide educational opportunities. I ended up joining an education tech company down in LA called Jumpcut, which is one of the best companies I’ve worked for to date.

[00:11:10] And thus this guess where my, my love for growing growing businesses and as the growth channels come to be, is that the time Jump cut, we were, we just finished Y Combinator, which is an incubator for startups. Right. But we weren’t profitable like most of ours. We just had like venture capital. I was like, Oh, somebody else’s paying for our debt right now, and if we needed to figure it out within a span of a year, I, the team and I, we, we basically, I was in charge of them.

[00:11:34] Yeah. First Facebook ads and YouTube ads and learning how to scale those. And we basically use Facebook and YouTube ads, but we found ways that no one else was using Facebook and YouTube, and we were able to, even though it was a competitive space for education, as everyone who’s reading this or listening to this knows, but we were able to scale from like six figures to eight figures in a year, just using purely Facebook and YouTube.

[00:11:54] We were profitable. So that was the, the venture of it was this YouTube and Facebook. But under that, when the business wasn’t profitable, I was still supporting my family back at home. So my grandma’s now retired. So I take some of the financial burden to support my mom and my grandparents and so forth.

[00:12:08] And. So what I did was, wow, jump cut was still trying to figure out how to be profitable. I started a side business, which at the time had no name side hustle there, but I was there. The job was super easy. How do we get people into management consulting? The job I had prior and how I scaled it was basically using platforms, and we’ll hopefully talk about this when no one else was using.

[00:12:28] None of my competitors were using it, and we basically scaled that up and eventually it became my full time job, a year later. Exciting. Exciting then. Yeah, it sounds, I mean, I guess the paraphrase is growth hacking, is that, is that the word you want to use? Are you fan of the word. I? I’m a, I’m a fan of the word growth hacking as long as you, as long as it’s sustainable.

[00:12:45] So for example, I’ve done, I’ll tell you, I’ve done that a couple of growth hacks for our businesses. That jump cut that like basically spikes it up for let’s say a month, but then afterwards you’re back to where you were, which is like, I love the word growth hacking, but better is can I make it sustainable?

[00:12:58] Yeah. I think I’m on your side. It’s kinda gotten overused, you know, there’s even people that put growth hacker on their resumes and stuff. It’s, yeah, I agree. It’s doesn’t sound like sustainable, I’m a, I’m a fan of evergreen, you know, like finding a channel, finding a business model that’s sustainable, longterm, defensible for sure.

[00:13:18] Right. Um, but yeah, so, so yeah, you talked about a lot, man, and already got some good, good ideas. And, uh. I, like I said before we started recording, I think, you know, a lot of our listeners are product based businesses are FBA sellers, e-commerce sellers. I’m like, of course, interested in business with Asia, obviously, or even your story of of Vietnam and going back, you know, your family would be amazing discussion, but today we’re talking about, you know, growth hacking or finding these new growth channels.

[00:13:48] I, and literally I was saying, some of them are, some people I was just talking to recently said, Oh, I’m getting crushed. I’m, everybody’s on Amazon PPC. Everybody’s bidding up, bidding up, bidding up. I have no margin left. Right? So, yeah, I think this is a really timely, timely discussion that we have because, uh, I think everywhere margins are getting squeezed.

[00:14:08] PPC is going up right. Absolutely. Like for example, yeah, even if you look at Facebook ads, and I don’t need to rehash this, but like even three years ago, it was like a third of the same price. It is for our CPM, for the same audience, which is like insane. Same of course, like across all of the major platforms.

[00:14:24] And it’s, it’s, the way I think about it is I, if it’s easy for you to do, somebody else is gonna come in and do it as well. Right. And cutting the margins out. Yup. Yup. Same with like Google ads. I don’t, I think I’m reading a, I’m really, I’m recently thinking, I can’t remember where I read it, but you know, the penny bids back in the day with Yahoo, I think it was overture.

[00:14:43] I don’t know if there’s something, you know, or, um, you know, Yahoo ads and of course, Google ads penny or nickel bids. That’s like not even existing anymore. Maybe. But, uh, but yeah, I know. It’s so, so that’s why I think, um. That’s what we know. So let’s just say, how do we know when to even look for, how do we even know is too competitive?

[00:15:03] I guess. Look at our margins. Look at our price per click or conversion rates. I guess. When do we start to say, this one is, uh, I need to find new channels. Hmm. So I guess, I guess we’ll talk about the strategies behind it first. When I think about new channels, and then we’ll talk about the, the actual tactics of it, but I think the, the, the analogy I’ll use is that it’s a similar to asking you when’s the best time to dig a well, the answer is probably before you need a drink of water.

[00:15:30] Yeah. So I think the mistake that I see a lot of us make who are a business owner is that we wait until it’s too late, and then you start panicking and it’s kind of like you see your margins go, but you’re like, Oh my gosh, where do I go next? Do I go to Twitter? Do I go to Instagram, or where do I go? And it’s like stresses you out.

[00:15:45] But imagine, it’s like six months earlier, you already had a platform in place. It keeps it a lot calmer, right, as you go down. So I think those, the short answers that you should be building it before you need it, but this is, it comes with a caveat, which is I think about businesses in where they are on their stage of life.

[00:16:02] So if you’re just starting out, like you’re going from zero to your first dollar, first a hundred dollars thousand or whatever. Then you just need to find one platform. Like you don’t need to defend anything because you’re literally defending your livelihood every single game if you’re one platform. But if we’re talking about more established businesses, let’s say like you’re an eight figure eCommerce business who, well, I’m, I’m pretty lucky.

[00:16:19] I’m in Chiang Mai and I get to hang out a lot of eCommerce and so forth at BA and so forth. And that’s one of the things is that they’re always looking for the new channel. And I think that’s correct, is that you have your one channel that might be evergreen, but they all realize. Shoot, David’s my barges just went down.

[00:16:31] Like I’ve even this week alone, I talked to two people who are both FDA and they unfortunately are a close to like shutting down their, their offering or at least is letting it run it because competitors are coming in much cheaper and margins are down. And the thing that they always tell me, he’s like, man, I wish I had another channel.

[00:16:47] Cause now I’m like panicking a find one. I might not find one. And I think so I think the best time is if you’re first starting out to find your first channel, but if you’re already. Doing well and you think you’re sitting on your loins, chances are if it’s easy not to defend and you’re not checking it every week, I mean there’s somebody in your competitive space is coming in.

[00:17:04] So I did that exactly when I was at jump cut was that we, even though we did like info-product courses and we’re doing education courses, there are plenty of our competitors, like master class you have there, you have all these other people, and this is before we talk about like the internet marketers, like you have your.

[00:17:20] Sam ovens is all for like we had all these people coming in fighting for the same category, but I have to figure out what angles can I take, what niches can we take to explode it? And if you’re not, if you’re basically sitting on Amazon or sitting on Facebook, chances are if somebody is as ambitious as you were when you started your business, somebody is trying to crawl at you.

[00:17:36] I mean, our competitors are doing the same thing for our business right now. So I noticed per experience that if you sit there for long so you’re not, you might not just have it or if someone wants a longer version of this. There’s one of my favorite books is who moved my cheese. That is like literally the whole premise of the book is that you’re eating at this piece of cheese as a mouse, and I’ve seen her in a year.

[00:17:54] Somebody moves it and you’re like panicking, but had you saw the science earlier. You would’ve moved. Got it. I like it. I’m taking notes. So, uh, for the show notes, there’s always, we try to link as many as we can or at least as many as I can type. Hopefully I’ll happy to say if you missed anything, I would send an email and then follow up on those as well.

[00:18:13] I want to make sure that any listener has all the resources and so forth. Thank you so much for really, um, so yeah, who moved my cheese? Sounds great. I, I’m adding that to my list. I think I’ve heard of it, but I haven’t gotten that one yet. But. So, so let’s, yeah, let’s move forward. I like, so basically my summary, my take away here is, yeah, if you’re just starting out, just start with one channel and find, hopefully it’s a clear, obvious channel.

[00:18:36] Maybe even if it’s, even if it’s calm, I mean maybe I don’t want to ignore them, how technical I should get, but like the Amazon, so I guess you still do Amazon PPC even though it’s kind of saturated, even if you’re just starting, or would you start with some kind of like new growth channel that maybe we’ll talk about later?

[00:18:52] Okay. Sure. So if, if, well, I guess two stages, right? Is that one, if you’re starting out a new business, as always, like we talked about this over email saying, I like the book traction, and there’s a whole chapter on it, like both books we have talk about this. So if anyone’s like we’re structured, it’s like.

[00:19:08] Fulfillment link, both traction books they talk about in the book, both of the talk about, you need to find basically that you’re a platform, their first platform that scales. And so when you’re first starting a business, it’s just finding one. Like for us it was Reddit when we first started My Consulting Offer.

[00:19:24] For me it was like spending time on renegades. You know that community. Just because I was a member of it. And a second was as we started growing and we started noticing, like for example, Oh, other people notice that Reddit’s being used as well. We probably should find other platforms as well, and it’s kind of like not a bad any what you have, but monitoring it as you’re starting to diversify  it’s so much of how you would treat your money in real life is you don’t want to have it all in your business when you’re big enough.

[00:19:48] Like you want to have it in various different types of investments. The same idea with yup. As is you want to diversify your risk. Agreed, agreed. And a  so let’s, let’s move, well, let’s talk about these two books. So I, uh, we talked about in the show notes, there’s the one I, I know I’ve read both and, yeah, I think both are great.

[00:20:09] The one I brought up first I think is most relevant to today’s discussion is the author’s Gabriel Weinberg, where he says, traction, how to, how any startup can achieve explosive customer growth. Um, because basically he’s going through the process of identifying the sales channel, measuring it, deciding to keep it.

[00:20:28] It’s been a while since I read it, but you know, basically deciding to stay with that channel or, or go to another channel, if I remember correctly. Yup, that’s right. And I think he gives you a list of like 20 to start off with. The same goes through all these different channels. So yeah, I like in your other takeaway is thinking of just like investing in the stock market or investing in product to sell online or services that you might offer.

[00:20:49] The channel is the same kind of a investment, right? So if you only have one channel of sales. It’s a, it’s, it’s not so diversified, so it has a higher risk. Whereas if you’re multichannel, which is a dream essentially where e-commerce sellers, I mean, honestly, so many sellers do want to get off Amazon seems like it’s been a trend the last couple of years.

[00:21:07] How do I get off Amazon or not as dependent on Amazon? Um, as they pull these tricks where they start sticking your competitors all over your listing, you know, increasing fees, things like that. Um. So let’s, let’s, um, let’s go to your question. I liked that you suggested even, how do I overcome an analysis paralysis and just start testing.

[00:21:31]So this is a common problem I think a lot of people have, especially when your a little bit more established. So when you’re a little bigger, and I wonder if you resonate today. I, I, this is what happens and be like, if you think about like two years ago what people are talking about like, Oh, mini chat is the future.

[00:21:44] But then people are like, wait, how do you set up a mini chat and so forth. But nowadays I’m like, obviously I talked with the people I meet just like, Holy crap, David’s, they’re about to charge you per message. I was like, yeah. Oh yeah. So shiny object syndrome. Right? But now you’re getting hit with so many different types of ads.

[00:21:57] Like for example, if you’re a new company, you’re like, Hey, do I think about Amazon? Yeah, I do. I use, just use Amazon as, do I go to Facebook? Do I go on YouTube? David’s his about, talk to me about Reddit and Quora. And then there’s like a bunch of other ones and you kind of like spin your head around what do you do with this?

[00:22:14] And so my whole thinking is that before we ever talk about how I think about the strategy behind which platforms to explore is. Sometimes the best answer is not in your head. It’s just a test. It is $30 whatever it is on a day, and see what happens. 

[00:22:30] Agreed. Yeah. I think, uh, it, same with the podcasts. I know listeners are listening and they’re taking notes and reading a book or taking a course, you know, of course learning is important and I hope they’re getting, I’m sure they’re getting value today, but nothing’s gonna happen if you don’t take action.

[00:22:44] Which is like you said, just throw 30 bucks, put a budget. I mean, honestly. , I don’t want to say cheap, but it’s still relatively cheap. Online advertising or you can at least control your budget, control your spend. Right. So you should just maybe, maybe that’s a good follow up question for me. Like how much either money or time should you put out an ad?

[00:23:04] A channel. Before you look at it, look at the results or the, or make a decision, shares. I’ll, I’ll, I’ll, I’ll give you the nerdy Davis answer and then I’ll give you a simplified answer for what I do. The nerdy approach, the nerdy approach is that every platform, you can calculate this, this goes significance of it and figure out if you have enough big enough sample size.

[00:23:22] So I will give a lecture here. Otherwise we’ll be here for like an hour on this. But anyway, I to look up at the school significance or if you’re, or it’s a, in the marketing world is basically just AB split testing. But. It’s a derivative of that and it’s just, I will spend enough money on a platform until I reached the physical significance where it, where basically the math tells me, Oh, right Davis, mathematically, 95% sure that this will work, or this will not work.

[00:23:47] But in other terms, in simpler terms, basically meaning that you have enough big enough sample size where you feel, okay, so, Oh wow. I, for example, let’s imagine that your, let’s say using . Reddit ads for the [00:24:00] first time. It’s kind of like setting enough traffic to your listing page and figuring out how many people buy.

[00:24:04] If you’re like spending 20 bucks and you already have like one or two purchase, they’re like, Oh, discussion can be viable. Let me pick it up. Reverses. If you spend like 20 bucks over a week, so you have like 120 bucks, 40 bucks spent, and you still don’t have a purchase, probably the answer is that’s not it.

[00:24:19] But if you’re S so the way I can think about it. Of course, a lot of books like traction, talk about this. It’s mapping out each part of your, of your, of your funnel, if you will. It’s like. At the top. Am I getting enough reach at this platform? Because if the platform only has, let’s say if you’re doing Reddit, but your, let’s say your, your service is you trade, you, you buy, let’s say coin collector little devices, but if there’s only a hundred people you can target, that’s probably not the answer because there’s only, even if you sold all a hundred that’s only a one time growth hack.

[00:24:49] It can’t be sustained. And then, but let’s imagine that the audience is big and they. See your ad, but I don’t click on it. Then the problem is ever you’re targeting to wrong or your messaging is wrong, but let’s fix that. 

[00:25:00] Once you fix that, then it should be on your page. And of course, if you go into Amazon, a little different for if you’re going on your own site, but then is the copyright, is the checkout page, right?

[00:25:07] Are you targeting the right people as, that’s how I think about it is I usually spend, and it really depends on the platform. Like for example, something like Reddit, you can actually suspend 30 minutes. It gets set up really super, super simple. Cause there’s only a couple of functions they have versus something a little bit more complicated.

[00:25:21] Like let’s say you were living in LinkedIn or you were doing Facebook. There’s a lot more custom audience. There are all these other functions and targeting methadone, they’re like, Oh they’re so goal 

[00:25:30] setting and things versus Reddit like, Oh, it’s all the same. So how much time do you spend should be dependent on the platform.

[00:25:35] But before you decide the platform, I would think about two things is Edison helps with the paralysis analysis here. Analysis paralysis. It’s one I always think about where can I get the biggest reach of my audience? Uh, people who actually really need to buy. So does it mean to, I want to target all 7 billion people in the world?

[00:25:51] It’s more of if I could target seven people who are just going to buy everything, that’s works too. Like where am I going to get like the crazy audience who are really love what we’re doing? Like they really believe in you and you believe in them. And then second is what’s the potential ROI on it? Like for example, you could do Amazon.

[00:26:08] But if Amazon, if all your competitors are on Amazon and they’re squeezing out your margin, even if it’s a large audience, you’re probably not going to get a big slice of the pie. Versus if you go somewhere that, let’s say has a 10th of the size of the Amazon audience, but you know, you can capture, let’s say 80% of the share to click shares.

[00:26:23] I will always go for that just because I know that my margin is going to be safe, at least for now, before all the other competitors come in and they’re like, Ugh. You got, go on to the next one. Got it. No, thanks for this. Give it us both nerdy and normal answers. I appreciate it. Um, let me see. So it’s similar, but there’s also the opposite, right?

[00:26:45] Doing too many channels at the same time. Uh, maybe just start with one, decide to continue or not, and move to the other, or. Sounds like I heard the other word, uh, spinning plates, you know, try to get one plate going, one channel going right and then go to the next channel. Is that, is that, Oh, that’s a, that’s a good analogy.

[00:27:02] I haven’t heard of that one, but that’s a little bit of what we do here actually, is that I always think about when we first started, I just wanted to have one good platform. That’s why I said going from zero to one, you should find to start one platform to start with because I will tell you, it’s like it’s hard managing one platform.

[00:27:15] If anyone’s ever managed, like actively managed will have or not like. Agency managers or like you’re looking at it once a week, but you’re like trying to tweak the copy, things like that. It takes a while of your time. So imagine having 10 of those at once. That’s hard. But if you have it like spinning, I would do that.

[00:27:30] So, or, yeah, like the swing. You play the example. I my, my whole thing is I always . Focus on one new channel at a time in addition to the ones that are working just to see what’s going on. Because I think that’s one of the lessons we learned when I was at jump cut is that we used to do so many ads at once, but it was hard to see what was working.

[00:27:46] For example, we were doing Twitter, we were doing Instagram, and we were doing ad words. We were doing YouTube, Facebook, and a bunch of other ones that we were doing on the plate. It was like Snapchat and radio ads and things like that, but it’s like really 

[00:28:00] hard to control and be good at it. It’s kind of like, the metaphor I like to use is that if you haven’t figured out what you’re good at yet, you’re basically like trying to be a buffet.

[00:28:07] It’s like a Chinese buffet, Chinese buffet, so US Chinese buffets, like those American ones, the American ones, so not the ones in China. Those are great. I like the ones in the U S but they’re not great for everything, but they go in there like, I know they’ll decent, but I. My whole philosophy is I don’t want to be a Chinese restaurant.

[00:28:23] I literally want to be known for that one thing. Like if for example, it’s a Chinese restaurant, for some reason they have sushi, which I have no clue why I, it’s not even the same country, but because it does get for another time, but it’s like if I want sushi, I want to go to a sushi restaurant, so I want to be at a sushi restaurant who’s really good at that.

[00:28:38] And then after I’ve mastered the sushi, maybe then I’ll open up a ramen shop or a chicken shop or whatever. But I was like, I want to keep it separate. If I was just trying to try everything at once. Well. Yeah. Makes sense. Makes sense. Um, I hope I can sneak in some questions, maybe not on the outline, but I’m thinking of tools.

[00:28:56] I’m sure. Listeners, it’s probably a common question you get, like everyone wants to know the tools, so is there some stuff, of course, there’s obviously analytic Google analytics or some kind of analytics pixels of course. Um, is there tools that you use or would recommend or for, uh, for these. Yeah, absolutely.

[00:29:12] So I will, I’ll, I’ll recommend it in the three stages of a business. So I’ll, from from experience, it’s like going from zero to one and then we’ll go for scale. And then when you have like multiple tracks, so I’ll tell her like, you’re basically trying to find your one channel, then you’re trying to go for like, let’s say you have two channels and then you have like three or four channels.

[00:29:27] We’ll talk about that. Okay. So when you’re first started, your first channel, the simplest one is just use the dashboard. Because again, you know when a sale is coming. So if you’re using Facebook ads and the Facebook pixel says you had. Seven conversions, but really you had nine conversions. You thought you had nine because there’s only no other source.

[00:29:41] You don’t have. You don’t have Google, SEL, you don’t have any of these other things going on. So in the beginning it’s keep it simple, use the dashboard, but in second, and once you get to one or two channels, then that’s when Google analytics as well as just having a Google sheet comes into play. As in, there are little things there.

[00:29:59] There are things you could do, like for example, you can do Zapier, which is one of my favorite tools to use the snap data, so you don’t have to do it manually, totally fine, and then once you start getting to more platforms, that’s when it gets messy, right? Like the first year it was like, I knew all my traffic came from, for example.

[00:30:14] Reddit or referrals. Second year, it’s kinda like, okay, it’s Reddit, Quora. Some of the school leads, I know exactly where they’re coming from. And, and nowadays we’re starting to enter more where we have like Google search, we have all these other things. And I’ve, I’ve, I haven’t gone to this platform by a lot of my friends as well as we started using an earlier version at jump cut.

[00:30:29] Is there, obviously, I think most of them. Listeners have heard of wicked reports. WikiReports also will help you out with tracking multiple sources and from the in front of people who are like basically the CMOs head of marketing, so a bunch of startups as well as companies that are you using WikiReports.

[00:30:43] They really like it, but again, it’s like I looked at the database and it’s like. Ritzy, heavy, but there’s one that we were testing right now. Funnelytics, which I thought  as well. Yeah. That one I liked stumbled on over my new year’s, uh, research by, yeah. 

[00:31:00] You know, these, um, this is all really helpful. But I think I would think about the, the, the, the advice I have here is, and this is probably just me being from the South where we didn’t have much money or like the thinking on is like basically people have their, cause you know she’s at the South, out they go.

[00:31:14] I love to keep things simple. So for example, most of our stuff is those Zapier and Google sheets and just pulling from basic tools, but funnelytics is like probably the next level for us. And then wikiReports we ever get to that point. But I just like to keep it simple because you just don’t need to complicate things, but you’re just starting.

[00:31:31] Agreed. Agreed. Um, I feel like maybe I’ve kind of answered, asked this one, but how, what kind of metrics are you looking for success? I guess I did maybe earlier say, when do you know how much time or, or what budget, but maybe also metric of course sales, but I know you talked to, you talked about the funnel already, where there’s like, you know, are you talking to right people?

[00:31:54] Are they clicking? Are they viewing? Are they, you know, buying, um. Are those the metrics? I mean, how many metrics is that one metric? I guess it maybe, like you just said, your three different stages of business prides its first metric. When you’re starting and you’re just looking at ms sales, are you looking at the other stuff?

[00:32:09] I guess? Yeah, so what I look for is, I look for a couple things is I think about my three metrics I talked to my, my team about is the biggest one is ROI. What’s your return on investment that you’re getting on the platform? Because if it’s negative, yeah, the answer there, right? If you have to, you’re going to convert that easy as a reboot, as a ROI.

[00:32:27] But the problem with ROI is this, which is that alone is not flight as. Good as it could be, because you can have, let’s say, let’s say I spend a dollar and I get a $10 10 sale, right? Then you’re looking at a 10,000 or you’re looking at an a thousand percent ROI, but it doesn’t look any precedent because he doesn’t make $9 and you can’t scale.

[00:32:45] Right? So the second thing I’d think about is what’s the profit that’s being brought in? So not the sales, because the profit and counters to things, which is one, what is the cost per, what’s the cost per conversion? And of course, wants the order value that they have. Okay, so that’s like the [00:33:00] second metric, adequate.

[00:33:00] So ROI just made sure that the platform is working profits just to see how much profit we’re actually bringing in. And the third, if you, when you’re first starting out and you’re still trying to figure out if the magic, and we still do this as a pulse check, is what’s the cost per new case? Cost per acquisition, cost per purchase, depending on what you use.

[00:33:16] For us, it’d be cost per purchase. It’s kind of like, let’s imagine, let’s, I’m using an example here is that imagine that you’re selling, let’s say you’re selling. Joe, I’ll use food as an example. I use like a yoga mat, so I just bought a yoga mat for about 30 USD, and let’s just imagine that I’m running this business and it costs me 25 USD to acquire a $5 purchase all in, and I’m making $5 can I scale that?

[00:33:38] Which is where the ROI and the profits come in. But if I’m making it like . But if it costs me like $40 to make one yoga mat, and I know they’re not going to be repeat customers, it’s going to be negative in the long term. So I’d like to keep it. They’ll see metrics. There are other metrics people like to talk about, like for example, cost per lead, cost per visit, cost.

[00:33:55] I think those are like early metrics, but I call them vanity metrics because they make you look good. So I’ll just, I’ll share a story of jump cut where I thought I was a genius. It turned out I was a complete idiot. So, so jump cut. We sell information products, we sell online courses, but the online courses aren’t like $7 they’re like in the hundreds and so forth.

[00:34:14] And one of, one of the early things when I was learning Facebook, I was like trying to figure out which countries would be good to go to. Like they have low cost for purchase so you can get them for lot cheaper relative to the U S and one of the things I did was I targeted these two countries. I’ll tell you which countries in a bit.

[00:34:29] And I drove this out there. It’s like, wait. Cost per lead. So this is the vanity metric. Cost per lead. Whoa. So our average cost per lead, let’s say that was like $3 or something. Whoa. These cost per leads are like 30 cents and like 17 cents. This is amazing. Pump up, pop up, spend more, spend more, spend more.

[00:34:45] And then I’m like, we’re getting more leads. I’m like, Oh my God, this looks great and we’re going to wait. You mean we’re getting leads? They’re coming in. They’re going into our. Or our sales process. Everything’s fantastic. Fast forward two weeks and it’s literally negative 100 ROI on all of them. I was like, wait, how does this make sense?

[00:35:00] We have like 17 cent leads and we also have 37 leads. There’s so much room for error compared to like these $3 leads, so I don’t get it. And then I looked at, I was like, Oh wait, these countries are India in Vietnam. I literally just asked them to spend a month earnings on a course. Yeah. That is taught in English.

[00:35:17] Yeah. Yeah. No, that’s, that’s the, the vanity you, as I, as I have, you just had, I just focused on cost per lead. It would have been a very bad metric for us to, to keep on. So again, it’s not, is that, not that you don’t monitor it, but I just realized that the ultimate goal is to be, to be, what is your cost per acquisition?

[00:35:34] So. I’ll tell you, like for example, certain platforms, their cost per lead is very cheap, but their cost per acquisition is very high. Like for example, from the examples we had, like YouTube, you can get these from us cheaper than Facebook, but the purchasing power of someone who is on YouTube isn’t as much for certain audiences.

[00:35:52] So there’s, the cost per purchase is much higher. So I’m, if, if I, if I could only have one metric from my team, it would be how much does it cost for them to. [00:36:00] For us to acquire them as a customer. And if I could get a second one, obviously is how much money did we make for them? And from there I can talk about everything else.

[00:36:07] Got it. Okay. This is great. Yeah. Thanks for sharing your, uh, your learnings. The hard, the hard knocks school of hard knocks is always the best, right? Yes. That is, this I, I’d almost call it the school of Davis’s bank. Oh, man. So your story is great. I mean, you chatted a little bit at the beginning about it, but let’s hear your own growth story,you know, and My Consulting Offer, you’ve, you’ve grown it fast.

[00:36:33] Uh. To a hundred K months, uh, somewhere forever end. And, uh, I’d love to hear how you did it. And, uh, you know how people can learn from that. Yeah, absolutely. So My Consulting Offer started off as a, a side hustle business. When I was working at Jump Cut, as I’ve mentioned, it’s like we, all we do is we just do two things very simply at a very high level.

[00:36:53] We have people, students get it. Interviews and then we also help them pass the interviews. I didn’t get the job. So as I mentioned that one of the [00:37:00] most lucrative careers you can have when you’re at these one of these schools is like an Ivy league or so forth. It’s something called management consulting.

[00:37:06] So it’s kind of like being a six figure person right out of college. And then you’re like basically a millionaire by your thirties and so forth. Unless you’re living in San Francisco, then that’s never realm, which I was in. But the. But the point is that it really sets you up your career for success.

[00:37:20] Like for example, if you think about the CEO of Google, the CEO, Sheryl Sandberg of. Facebook and you think about like even the founder of Zanger, the game company, and there’s a bunch of other CEO of Pepsi at one point, like all these people came from management, because I’ll say, he said, it’s kind of like it skyrockets you to this high position so people want it.

[00:37:37] The problem is that consulting firms on average take about one to two percent of the people who apply. So it’s actually easier to make the MBA as a college basketball player or to get into Harvard if you’re just like a high school student than it is that you get into magic is always super hard, right?

[00:37:51] And there are already type of car. You’re looking at a crop. And so my thing was that. Because I was on the, the team that helped decide who gets interviews and offers and things like that. Bane. 

[00:38:00] So can I transfer that knowledge into helping others? And so I started doing that. I took 13 people, I found, I’ll read it like I mentioned.

[00:38:07] And so I’m building the company and then it was just a side business for me to eventually just pay off some debt in the beginning of some medical debt. And then later on just took on his life, his own. But if I had to think about the three messages I made a successful is, yes, we did. Go from like growth channel to growth channel.

[00:38:23] But really I think the biggest mover, and we have the numbers to back this up, is referrals tend to be like the biggest one for us. It’s kinda like people really loved our service. So they go through and, and they see all the reviews. So we do reviews, we do video reviews of people actually using our service and so forth, how they feel about it.

[00:38:41] And that’s been really helpful. And I think about beyond just growth hacking is like sustainable growth hacking is, so  Sam, Sam Altman, who is. The who’s, I think he’s the current president that’s, he stepped down and already of Y Combinator. He’s at this thing is that short term growth hacking is great because you get leads, but longterm, nothing is better for growth hacking than word of mouth.

[00:38:59] And it’s like so true, right? It’s like no cost at all for acquisition, and it’s just so I always think about how do I make a product that stands out the fridge gas itself from everything else, and of course the listeners here don’t need to speak louder, but it’s like. Thank you. Are any of your friends who do work in the supplement space, they probably have some kind of angle or some sort of benefit that they’re trying to stand out in the market?

[00:39:19] It’s like, Oh, this is the only one formula for women who are busy professionals at law firms or something like that. It’s kind of like figuring out how to make your product as. Lovable to your audience

[00:39:30] as possible, and for us it was getting basically getting them results, getting them offers at these consulting firms, and so we were averaging like nine a hundred percent to start with the 90% overall autistic, get them a job.

[00:39:41] It’s kind of like I’m telling you, you have a 90% job of getting to six figure job. Yeah. Paying, paying a few thousand it’s not going to hurt you. If you’re, if you know that you’re going to make like 8 million expected earnings in your lifetime, that song could ROI or like you said earlier, exactly. Nice.

[00:39:59] Okay. Well that is cool. I’m really happy to hear this year, your success here and uh, yeah, we finished a fascinating conversation. Like I said, I think we’ll get you on an alert or another show if we can. Um, but maybe we can start to wrap up a little bit, sort of listener today. Maybe. I think we usually have people already in business, but maybe they want it.

[00:40:20] Maybe they’re in one competitive channel right now. Their stock, they’re scared. Maybe they’re even afraid to go to the channel or know maybe. What would you, I know we said take action, but. 

[00:40:30] Do they do this to himself? Do they, there’s a lot of agencies, you know, that can do paid ads, especially on Amazon or other ones are should this something they should try to do themselves or should they hire an agency or what?

[00:40:42] What should they do next? Maybe so it depends on the stage, right? If you can afford an agency and you don’t, an agency is good, then it’s free money. But if you don’t know an agency that’s going to crush it. My own thing is I always feel like to go back to first principles and foundations, and for me it’s always thinking about.

[00:40:57] Where is your audience and does it have to be online? Can it be offline? Like for us, a lot of the marketing we do is actually offline as well, like working with school partnerships, going into places like Yale go and places like MIT going to Berkeley, but places like that, or national university of Singapore.

[00:41:12] While I’m over here, it’s kind of like going there and just figuring out those events. But an analogy I’ll use is that, so I had a friend who sold a product, and I know people don’t like to sell their products, but I’ll tell her like he basically sell podium. Right? So think about the, but the, the podiums you go when you go to a conference, somebody has to sell those podiums.

[00:41:31] And of course he’s like, Oh yeah, I need this, ship it online. I was like, dude, who uses your podiums? Like he’s like, Oh, speakers. I was like, why are you not as speaking events and why are you not at like Toastmasters? We just like literally 300,000 people who are trying to be speakers and improve. They’d need a podium.

[00:41:45] He was like, Oh yeah, that makes sense. Let me ask spots. You’re on these conferences. Quick ROI right there, right? So it’s kind of like, sometimes people think about this shiny object is where, where’s my golden bullet? And sometimes you just gotta think a little deeper into my funnel. My question is always my buyers, where are they hanging out and how do I get to them?

[00:42:02] And then from there, I’ll figure out the channels and platforms like for us are our audience. A lot of them are on Reddit and that’s why I’m on Reddit. But if they happen to be on, let’s say they were on Instagram or Twitter, I would be on Instagram or Twitter. Okay. Makes sense. Makes sense. So, um, what, so finding you online, where’s, where’s the, of course Mike is holding off her.com right?

[00:42:25] Pretty ignored. Or excuse me, I have both. It goes the same way. Oh, okay, good. Good. Lisa didn’t send it to some, some squatter, but awesome. Is that the best place? And then what are some other. What other things are up to or how can people reach out? Yeah, absolutely. I’m super easy to learn, so I’ll send this out, but people can find me on LinkedIn.

[00:42:44] I’ll, I’ll send you the LinkedIn so you don’t have to search it. My, my personal blog,  davisnguyen.com I’ll, I’ll send that as well. And it’s notorious. My last name is a little hard to spell and then of course myconsultingoffer.org. Super easy. Like literally there’s a contact form and if you reach out to Davis, my team will forward that to me.

[00:43:00] I pretty much read all my, I love being inbox zero as in it is. It’s getting harder and harder. It’s fine. I don’t know how you can do that. She’s a wait. That’s probably another episode of the process and how I do it. I have a couple show ideas or any, but this is really great. Davis, thanks so much for sharing openly about all this.

[00:43:18] I’m sure people listen, listening, learned a lot. So, um, thanks again. All right, Mike, my honor’s all mine. Thank you. Alpha Rock Capital. Just raise another investment round and it was a successful one. It’s a pleasure to be partner here and I’m down here in Manila, spending much more needed FaceTime with the team.

[00:43:38] If you’re interested to get some exposure to Amazon FBA without actually having to get involved in the daily operations, investing in alpha rock is a good opportunity. Check it out at www.alpharockcapital.com and there is a connect button where you can connect with one of our biz dev people. After finishing that intro clip, I felt like a little bit of a downer.

[00:43:58] I mean, that show was amazing. David’s is really smart guy and he’s built an amazing business. Really, really thank you for coming on the show. Thank you for sharing. We really enjoyed that, both of us. I think he could’ve gotten to the Asia angle at the beginning of the interview. Interviewer, talking about that, right?

[00:44:13] The, uh, immigrant, his family immigrating to America from Vietnam, and that, that’s a pretty, uh, intense story. Maybe we should have a story episode in the future. And, uh, we also got them interested in a cross border summit. I really want them to share their, it’s going to be amazing. Um, thank you again Davis.

[00:44:33] Um. And so some growth hacking for us. I mean, this podcast is really been amazing way to quote unquote, growth hack. I mean, connecting with amazing people like him. Hopefully he can share them with his community. You know, sharing is caring. And that’s one way a lot of podcasts grow is, you know, get the, uh, experts onto the show, learn and connect with amazing people and uh, and get them to also share it to their.

[00:44:57] Networks. That’s one. Definitely hack a, I know podcasting is a lot of work as I’m doing it right now. And, uh, honestly it’s a little bit tough every week you gotta grind, you gotta do it, or at least your schedule, some, you know, it doesn’t have to be a weekly show, but, um, it’s definitely something to consider adding to your business to connect with people in your audience and your community.

[00:45:19] Um. We’re just put stuff out there, you know? And it’s great. I build relationships with amazing people. Like Frederick Yutani Porthaul sent me to bat soup pictures and articles. I don’t know. I don’t know if I believe that’s how this, this coronavirus got there, you know? I don’t know. I guess that’s the story.

[00:45:38] Um, I have my conspiracy theories. I don’t, I don’t know. There’s a few different conspiracy theories, you know, thinking it’s manufactured and somehow escaped a laboratory like a. Like the movies, you know, like, it doesn’t seem that crazy to me. I’m still trying to think of what to do, but, you know, of course, talking to my wife on, we chat as always.

[00:46:00] And uh, but they’re getting really strict about what you say on WeChat. They’re, they’re really, they’re really cracking down. I mean, as you may or may not know, it’s monitored and anything you say or do on that platform is controlled and monitored and restricted by the, um. People in North of China. So just keep that in mind.

[00:46:22] Sorry, I’m going to keep this, this one a little bit shorter, but, eh, my, my, uh, one of my old professors in New Jersey, Stevens tech where I went, reached out to me about this Corona virus and he’s, he follows my blog and vlog and he says, uh, I should definitely write some more articles about my experiences as an American with a wife and my wife and kids are in China and I, you know, I’m an M in the Philippines and that perspective, uh, he says it can help me get into some editorials in the U S it’s definitely a crazy feeling.

[00:46:53] what do you, what kind of feeling you’re just like helpless. You’re just only talking to them on WeChat hoping though. Hoping my Wechat account stays open. Nothing negative. cause she doesn’t use any of the, the B and kind of stuff, but she’s a. Try to teach her that, but she has no way to get information outside of China.

[00:47:11] So, um, it’s really, uh, it’s really an interesting course. Interesting. So maybe not most a core keyword, but, you know, Hm. Perspective. Um, I still am confident. Will not affect my family. I don’t know if you know, jinxing myself here, but we have strong, healthy people. You know, it’s mostly affecting, um, elderly.

[00:47:38] All right. Now, from what I’ve understood, and, uh, you know, they’re staying safe. They’re staying home. I mean, it’s Chinese new year. It’s kind of, it’s bad and good is during Chinese new year. But, uh, it’s the biggest migration of people in the world, right? So if it stops earlier. Hmm. What’s going to happen if it stops earlier, you know?

[00:48:01] Uh, I mean, if they, they’re actually talking about extending Chinese new year because it’s true. If for like a billion people, whatever, and a crazy amount of people is traveling with and some of those percentages are sick and they’re going to spread it more. So I think it’d be a longer Chinese new year, but it’s also nerve wracking.

[00:48:16] Even Alpha Rock and others, Amazon sellers are people buying from factories? When does these factors going to open? How long will the factory stay on Chinese new year? You know, what, if you run out of stock, what are you going to do? Really, a really weird times. I mean, but definitely it’s just like another negative to China.

[00:48:31] You know, there’s a trade war. Um. Battle for so long with tariffs and now there’s this, I mean, it’s just a, it’s gotta be a lot of pressure on the Chinese, uh, leaders. Let’s just call it leaders and see if, see how they get out of this one. I, you know, I was sitting here waiting, but also some of my own trips to Hong Kong got canceled and business meetings in Shenzhen got canceled.

[00:48:57] I was supposed to go there and have a February, but that got canceled. Well, I’ve been really, really wild, you know, to volcano here in Manila now in a coronavirus and China, wear masks everywhere. I guess he’s got to realize life is really delicate and, uh, you gotta just stay healthy, stay strong, get your rest, eat well, you know, sleep well.

[00:49:20] Absolutely. I’ve been doing that for years. You know, I don’t, I haven’t drank alcohol in the years, so I hope you guys enjoyed today’s show and thank you so much. See you next week. Got amazing interviews. I mean, seriously, I’ve been so impressed with them. Amazing speaker, a guest, and we’ve got amazing ones lined up.

[00:49:37] I mean, we’re backlogged with great guests, so hope you all enjoy and maybe give me a review on iTunes or, uh, iTunes or, uh, give me a, you know, some kind of feedback. We really appreciate it. Thank you so much. Take care. Bye. Bye. To get more info about running an international business, please visit our website at www.globalfromasia.com that’s www.globalfromasia.com also, be sure to subscribe to our iTunes feed.

[00:50:06] Thanks for tuning in.