43 episodes

A meat and potatoes podcast dedicated to cutting out the BS in passive income and actually helping you achieve financial success. Learn how to set up the right income streams, grow business, promote capital, and actually apply useful knowledge.

Diversified Income Experiment | Passive Income LaunchPod Media

    • Investing
    • 5.0, 22 Ratings

A meat and potatoes podcast dedicated to cutting out the BS in passive income and actually helping you achieve financial success. Learn how to set up the right income streams, grow business, promote capital, and actually apply useful knowledge.

    How To Choose the Right Franchise | The Advantages of Buying a Franchise

    How To Choose the Right Franchise | The Advantages of Buying a Franchise

    In this episode, we update you on the franchise, Smash My Trash, that Keith brought in January of 2020. It’s been live for a week, and we share the revenue growth we’ve seen. We explain the main advantages of franchising, including lowering risk by having proven business models available for you to follow. We also talk about the advantages of a major franchise’s brand, patented technology, and value around process and industry awareness. We refer you to our previous episode, Franchising | Aaron Bakken, and recommend you find him on LinkedIn to find out more about franchising. We share what Keith has learned about being honest with yourself and your own compatibility with the franchises you consider. We tell you more about Smash My Trash, it’s model and value proposition. It’s value proposition is to save money on a necessary service, and it’s entire employee force consists of a salesperson, drivers, and yourself. If you set it up right, it also has the potential to be a very hands-off endeavor. We discuss how owning a business always has a hard, labor-intensive stage, and how right now we are in that stage with Smash My Trash, as well as our other businesses. We talk about what has and hasn’t worked for us in terms of selling this service to businesses. We finish with an overview of the advantages of franchising.

    Finding the Right Franchise -- Lower Your Risk 0:52
    What Keith Has Learned About Franchises 6:05
    Smash My Trash -- Why It’s a Good Fit For Keith 7:46
    Challenges With Sales 13:31

    “The process of evaluating franchises is important...I think franchising can provide an opportunity to create wealth -- they’re real businesses that are proven, and have track records, and you can be able to replicate those. That’s the whole model.” 18:58

    Reach Out To Keith, Get Help and Resources: https://dincpie.com/

    • 21 min
    Laundromat #3 is Live | How It’s Doing

    Laundromat #3 is Live | How It’s Doing

    Today, we update you on the status in its first 2 months of the third laundromat we’ve opened. We begin by sharing the process of obtaining the property. We purchased the building in May of 2018, closed the deal in the following December, and we just got it up and running in April of 2020. We then encourage the listener to consider this an example of how long this process can take and prepare accordingly. We share the details and delays in getting the building ready to run the laundromat, including the structural and extensive plumbing renovations to get the building ready. We talk about our plan and its ramp rate to revenue, and how we did in month 1 compared to this plan. We share the statistics of our earnings by day and by month. We also share the progress of the other two laundromats according to the model. We share the growth of our wash, dry, fold operation. We attribute that growth to switching our website to the service offered by CurbSide Laundries (https://www.curbsidelaundries.com/), using their advertising. In addition to this, we are advertising on https://nextdoor.com/. We talk about the growth of Laundromat #3, discussing adding security measures like bars on windows and bollards in front of the store to adapt to the local circumstances. We talk about our efforts providing a good experience for customers and then asking them to leave a Google review. We talk about adapting our delivery service communications protocol to customer needs. We talk about the best way to handle customer complaints, including giving refunds in credit for the store when possible.

    Purchasing and Preparing the Property, Payment System 0:41
    Revenue in Month 1 5:34
    Wash, Dry, Fold Earnings; Website and Advertising 10:04
    Other Details About #3; Google Ratings 13:48

    “We build a plan that has a ramp rate to revenue...month 1, that’s where it starts. Month 1 is 10% of the target where we will ultimately end up when we get to a production run rate.” 6:03

    Reach Out To Keith, Get Help and Resources: https://dincpie.com/

    • 19 min
    The Second PIE Episode | Demographic Targeting and Optimizing your Sales Funnel

    The Second PIE Episode | Demographic Targeting and Optimizing your Sales Funnel

    In today’s episode, we give you an update on our passive income experiment, as discussed on our previous episode, the The PIE Episode | How To Source and Sell Products Online. We give you a summary of what our experiment is. We share that the product we chose to do our experiment with is a 10” acacia wood kitchen turntable (https://www.amazon.com/Lipper-International-1301-Kitchen-Turntable/dp/B073SBDZSH?th=1). We created our Facebook ad, and found that over the course of a few days, 500 people clicked on the ad. We explain how with that click rate, if 10 people buy the product, it fits within our model as a promising customer acquisition cost. However, we found that out of those 500 clicks, we didn’t have a single sale. Even after adjusting our click funnel -- including the images and price of the product, and the design of the page -- we couldn’t get a single sale. Using the eye-tracking tools on Crazy Egg (https://www.crazyegg.com/), which helps you track a website’s operation, we found that no one even entered their name in the first field. We then determined that we weren’t selling to the right demographic, considering that we had a high-selling product on Amazon, and that our sales funnel looked great. We talk about how we’re going to double check that our product is priced right as an impulse buy, and target our ads to the right demographic, and structure our funnel differently and involve discount codes and email address collection.

    Recap of Product Launch Idea 0:31
    Update on Our Experiment 2:05
    Tuning Our Website for the Right Demographic 7:27
    Our Strategy Moving Forward 10:45

    “If you’d like to know exactly how much those products generate in revenue, you can just go to Viral Launch, or Helium 10 -- get a one month subscription for like 60 bucks -- and you can enter the product number, which is called the ASIN, and it will tell you exactly how much the product sells for. And the idea was to be able to locate a product that sells really well on Amazon -- to verify that there is demand -- and then create Facebook ads to drive people to your own little one or two page website where you are selling that product.” 0:45

    Reach Out To Keith, Get Help and Resources: https://dincpie.com/

    • 15 min
    “Now What?” The Key to Successful Marketing Strategy | Melissa Forziat

    “Now What?” The Key to Successful Marketing Strategy | Melissa Forziat

    Today, we talk about marketing with Melissa Forziat, marketing speaker, consultant, and author (https://melissaforziatevents.com/). We discuss winning strategies in marketing, pointing out that every business and every audience is different. We also talk about the need to constantly adapt to change and continually invest in marketing. We compare different methods like personal networking, partnership marketing, and brand awareness, emphasizing the importance of identifying exactly how your are attracting customers. Melissa also shares that the key to marketing is always having a next step in your marketing plan for every move you make, in order to build relationships and make them last as long as possible. We discuss the importance of both strategy and market testing. We list examples of both Melissa and Keith’s efforts to expand their businesses, sharing the ways they illustrate important principles of strategy, creativity, and relationship building.

    Marketing: Winning a Game When the Rules Are Always Changing 2:28
    Melissa’s Process When Working with Clients 11:04
    How to Build a Career in Speaking 23:14
    The Importance of “Now What?” 26:04

    “If you think it would become a full-time business, try to give some thought not just to what products are hot, but what makes sense for you to sell. What makes sense for you to have affiliate links for, and is there an overarching message around the types of products that you’re choosing.” 30:29

    Reach Out To Keith, Get Help and Resources: https://dincpie.com/

    • 42 min
    The Godfather of VA’s | Nathan Hirsch on Scaling Your Business With Virtual Assistants

    The Godfather of VA’s | Nathan Hirsch on Scaling Your Business With Virtual Assistants

    In today’s episode, we interview Nathan Hirsch, Co-founder of Free Up, an online service that “gives business owners fast access to a hand-picked network of top freelancers in eCommerce, digital marketing, web development,” and other services (https://freeup.net/), and Outsource School, a resource for learning “how to interview, onboard, train, and manage virtual assistants.” (https://www.outsourceschool.com/). We talk about the conception and development of both businesses, as well as the several unique and useful advantages they offer to business owners. We discuss the systems that should be in place before integrating VA’s, as well as the ideal role they play in your business structure. We share the courses and resources offered by Outsource School. We finish by sharing ideas about what makes a successful business, focusing on the win-win, using podcasts, and living a positive lifestyle.

    Origin of Free Up and Outsource School 1:04
    Bookkeeping and Other Applications 10:00
    How to Use VA’s; Topics Covered by Outsource School 16:28
    What Drives Nathan Hirsch; The Podcast Outreach Formula 25:16

    “If you don’t have systems and processes, you’re not gonna be able to hire a virtual assistant. And that could be an executive assistant to do your scheduling, that could be someone to do customer service, it could be lead generation, it could be research to get you on a podcast -- that’s where the VA falls in.” 17:41

    Reach Out To Keith, Get Help and Resources: https://dincpie.com/

    • 36 min
    How To Make Passive Income | Ideas and Strategies for Short-term and Long-term Profit

    How To Make Passive Income | Ideas and Strategies for Short-term and Long-term Profit

    Today, we discuss different passive income streams, including those that have become Keith’s favorites over time. We talk about effective money-making strategies in real estate with short-term rentals, long-term residential, and commercial real estate. We recommend looking up our previous episode with Antioine Martel (“Turnkey Real Estate”), as well as listening to his podcast for more tips on residential real estate. We give you a proven model for a profitable commercial property flip. We finish by giving you a new idea for an Amazon Alexa programming service for smart homes.

    Passive After Outsourcing; Writing Covered Calls in the Stock Market 0:28
    Residential Real Estate: Short-term and Long-term 4:19
    Commercial Real Estate: A Successful, Repeatable Model 13:14
    Be Creative, Use Your Skills, Fill Needs 17:29

    “Things become more passive, sometimes, with scale, so in anything that you start, there’s a little bit of effort up front to get them running. And then, they become more passive over time as you can outsource the various components of them.” 1:20

    Reach Out To Keith, Get Help and Resources: https://dincpie.com/

    • 20 min

Customer Reviews

5.0 out of 5
22 Ratings

22 Ratings

Steve nezz ,

Great podcast, great info and great host

I’ve been listening to Kieth and from the first podcast I heard I was hooked. I appreciated his advice so much that I actually reached out to him personally to talk business and he was willing to share some great tips and tricks in the business. By far one of the more informative and down to earth podcasts I have subscribed to for business talk!

HenryLopez@TheHowOfBusiness ,

Highly Valuable

Keith has the experience and success in business to share highly valuable insights, tips and techniques for other small business owners to follow. I appreciate his no-nonsense approach and perspective. Honored to have been a guest on this great podcast show.

MJ Fleck ,

Fantastic information with real data

Keith - love the podcast. There’s great information each episode supported by data and real life applications. I have a particular interest in car washes but you’ve also referenced that you may dabble in short term rentals as well? This is a space I’m hoping to dive into this year - would appreciate any content you can put together around gauging feasibility by market/neighborhood as well as what to look for in a property for this. Thanks!

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