Hey it’s Opossum here! Welcome to my free monthly Q/A Roundup. Today’s post is on some of the best questions in the last month. Each week I write about a new topic or analyze a new digital business. If you’re not a subscriber, here’s what you missed this month:
Register everything under the name of the LLC and make sure to pay for everything with the LLC and not personal funds. Don't mingle funds. IE don't pierce the corporate veil.
So in the name block when registering I just put "________ LLC" instead of my name, and then my LLC's address, and pay for all of it out of my LLC's bank account
I'm currently in a digital marketing apprenticeship that will result in getting a role at a top marketing agency.
I plan on starting my own ecommerce business but first I need to get a job to make income and save money before I do that.
I'm focusing on obtaining an e-commerce associate/analyst role so I can obtain the skills and use it when I start my own business.
In the event I'm not able to obtain a e-commerce role; what would you say is the best role that would prepare me the most to succeed with my own e-commerce business: Paid social, paid search, social analyst, or media buyer?
What digital marketing roles do you personally recommend?
If you don't have the money to run your own ads or media buys, that skillset is no good. Starting from absolute 0? SEO or social media. BUT neither of those skills are really going to be learned in your role in the near term.
Learn SEO and how to grow a social media following on your own. Is there a general digital analyst position available? That way you can be an analyst across multiple domains to touch everything.
For non technical founders who excel at marketing, would one possible avenue be to hire developers? I’m currently the owner of an agency building a product with an online component (not true SaaS), and using a Mexican offshore developer firm. They aren’t cripplingly expensive and are moving quickly to build using no code low code tools as well as tools like Airtable.
Agreed that most agencies are Bull. I run a PR agency and will give my frank advice to prospects, including if I think they aren’t ready for PR yet, if they don’t have the budget to sustain it, or if they want PR for something reporters don’t write about (eg Kickstarter campaigns). Best way to sift through agencies is to ask for referrals. Even then it’s not fool proof. Make sure not to sign an agreement that locks you in.
I run a successful Medicare insurance brokerage. For the last decade I have primarily worked off referrals and buying leads from 3rd parties. I recently designed a new website (www.compareyourmedicare.com) to get more into digital marketing so I generate my own leads. One of the downsides to my brokerage business is it's specific to only one state because licensing and education is very regulated. Do you feel learning all of this information on WiFi Money is worth the time investment since my target audience is really only one state in the country? or should I use my free time developing WiFi skills for a different side business that has wider reach domestically or globally?
I'm sure your margins are huge so that's probably your best opportunity.
Not sure of the buying habits/consumer journey but there could be an enormous opportunity in local SEO for you. Look at what the lead gen companies that you're buying from are doing and see if you can adapt it to a more local level. OR focus nationally, take the local leads and sell the other leads.
Agreed, the possibility of it being illegal is the only thing that's stopping me at the moment. I would most definitely like to start an anon copywriting biz though.
Talk to a lawyer to be sure. It’s not the worst thing to tell your employer. Seriously. You don’t have to tell them the amount of clients or how much money you’re making or all of your social media handles... “It’s just a hobby that makes a little extra money”
How do I make sure my LLC owns my website and not me?
Register everything under the name of the LLC and make sure to pay for everything with the LLC and not personal funds. Don't mingle funds. IE don't pierce the corporate veil.
So in the name block when registering I just put "________ LLC" instead of my name, and then my LLC's address, and pay for all of it out of my LLC's bank account
I'm currently in a digital marketing apprenticeship that will result in getting a role at a top marketing agency.
I plan on starting my own ecommerce business but first I need to get a job to make income and save money before I do that.
I'm focusing on obtaining an e-commerce associate/analyst role so I can obtain the skills and use it when I start my own business.
In the event I'm not able to obtain a e-commerce role; what would you say is the best role that would prepare me the most to succeed with my own e-commerce business: Paid social, paid search, social analyst, or media buyer?
What digital marketing roles do you personally recommend?
Thank you!
If you don't have the money to run your own ads or media buys, that skillset is no good. Starting from absolute 0? SEO or social media. BUT neither of those skills are really going to be learned in your role in the near term.
Learn SEO and how to grow a social media following on your own. Is there a general digital analyst position available? That way you can be an analyst across multiple domains to touch everything.
For non technical founders who excel at marketing, would one possible avenue be to hire developers? I’m currently the owner of an agency building a product with an online component (not true SaaS), and using a Mexican offshore developer firm. They aren’t cripplingly expensive and are moving quickly to build using no code low code tools as well as tools like Airtable.
Of course, but most of my audience either can't afford it or are unwilling to spend the money. (risk tolerance)
Agreed that most agencies are Bull. I run a PR agency and will give my frank advice to prospects, including if I think they aren’t ready for PR yet, if they don’t have the budget to sustain it, or if they want PR for something reporters don’t write about (eg Kickstarter campaigns). Best way to sift through agencies is to ask for referrals. Even then it’s not fool proof. Make sure not to sign an agreement that locks you in.
I run a successful Medicare insurance brokerage. For the last decade I have primarily worked off referrals and buying leads from 3rd parties. I recently designed a new website (www.compareyourmedicare.com) to get more into digital marketing so I generate my own leads. One of the downsides to my brokerage business is it's specific to only one state because licensing and education is very regulated. Do you feel learning all of this information on WiFi Money is worth the time investment since my target audience is really only one state in the country? or should I use my free time developing WiFi skills for a different side business that has wider reach domestically or globally?
I'm sure your margins are huge so that's probably your best opportunity.
Not sure of the buying habits/consumer journey but there could be an enormous opportunity in local SEO for you. Look at what the lead gen companies that you're buying from are doing and see if you can adapt it to a more local level. OR focus nationally, take the local leads and sell the other leads.
So for someone that works in the securities industry, would you still recommend starting a business anon?
If you can’t do it legally, I can’t advise breaking the law. If you can do it legally, you should still do it anon if it makes sense.
Anon to the world and doxing to a compliance officer or two is still pretty anon.
As always though, anon is generally harder than non-anon though.
Agreed, the possibility of it being illegal is the only thing that's stopping me at the moment. I would most definitely like to start an anon copywriting biz though.
From my understanding, It's legal but I would have to disclose my outside business activities to my employer.
Talk to a lawyer to be sure. It’s not the worst thing to tell your employer. Seriously. You don’t have to tell them the amount of clients or how much money you’re making or all of your social media handles... “It’s just a hobby that makes a little extra money”
Got it, will do thanks Opossum!