Chapter
The Power of Social Media Advertising
24:45 - 30:35 (05:50)
This podcast discusses the effectiveness of social media advertising, citing examples like Sugar Bear Hair paying the Kardashians to post about their product, and emphasizes how easy it is to get started with drop shipping and a small ad budget.
Clips
The host discusses the harmful effects of taking shortcuts in the beginning stages of a project or task, stressing that putting in the time and effort upfront will pay off in the long run.
24:45 - 26:24 (01:39)
Summary
The host discusses the harmful effects of taking shortcuts in the beginning stages of a project or task, stressing that putting in the time and effort upfront will pay off in the long run. He reflects on his own experiences of taking shortcuts and how it ultimately led to negative consequences.
ChapterThe Power of Social Media Advertising
Episode#181 - How Virtual Horses are Making Millions, A Potential 9-Figure Company & How to Bet on Anything
PodcastMy First Million
The success of a business can be attributed to the network effect or flywheel approach, where a circle of interconnected parts - customer acquisition, customer engagement and retention, and product distribution - continue to increase and generate more value over time.
26:24 - 27:57 (01:32)
Summary
The success of a business can be attributed to the network effect or flywheel approach, where a circle of interconnected parts - customer acquisition, customer engagement and retention, and product distribution - continue to increase and generate more value over time. Though getting off the ground requires hard work, once momentum is achieved, the business becomes more valuable and less work is needed to maintain it.
ChapterThe Power of Social Media Advertising
Episode#181 - How Virtual Horses are Making Millions, A Potential 9-Figure Company & How to Bet on Anything
PodcastMy First Million
An effective way to advertise on social media is to make the content appear as a genuine review or recommendation from an influencer.
27:57 - 30:35 (02:38)
Summary
An effective way to advertise on social media is to make the content appear as a genuine review or recommendation from an influencer. When advertising, it is important to compete against the scroll of the user feed, rather than directly against other advertisers.