Money Lab

It's listener question time! From changing course in a dying industry to starting a business with a friend, Matt and Andrew debate the answers to your burning questions: What would you if your niche site was in a stagnant or dying industry? What are your favorite strategies for helping drive traffic to the newer websites you have built? What's the best side hustle to start right now? How do you set up and structure a business with friends? And how do you find your own Andrew or Matt? Keep your questions coming! We'll be doing more of these in the future, so head over to MoneyLab.co and email us your Qs to get yourself some As.

What does it actually mean to run a profitable business? Matt breaks down how he uses the Profit First accounting model to manage and allocate money made in his online business. Matt explains how he divides up his business revenue into certain Target Allocation Percentages and how this framework has helped him: 1) Pay himself more money as the business owner, 2) build up an account with reserves in it, and 3) have more than enough saved up for taxes every year.Matt and Andrew talk about how they pay themselves from their businesses and make sure they have enough of a buffer for lean times. If you've ever looked for a better way to divide up the money your business brings in, this episode is for you. Enjoy!P.S. You can see and download Matt's Profit First spreadsheet on YouTube.P.P.S. Check out the Profit First book here: ProfitFirstBook.com

Amazon just ripped the rug out from underneath every affiliate marketer, announcing their plan to slash affiliate marketing rates. And with just 7 days notice. Matt's business is set out to lose a whopping $176,929 with this change -- that's 40% of his entire business. So what does he plan to do about it? How does it affect Andrew? And what can every Amazon Associates member do going forward? Matt and Andrew spend the episode coming up with solutions in real time and trying to figure out the path forward. Enjoy!P.S. You can read about Matt's entire plan of action at Moneylab.coP.P.S. Matt and Andrew posted a video recording of this episode over on the Money Lab YouTube Channel.

Does low competition equal instant success? Matt just wrapped up his experiment to launch a podcast in a low-competition category. The goal: trying to naturally rank and gain listeners where there's no competition. Spoiler: it didn't work. So when does focusing on low competition categories work in business? Why are Andrew's low-competition niche sites taking off but something like Matt's podcast doesn't? Matt and Andrew debate when low competition pays off and when it's not worth the pursuit. Enjoy!P.S. You can read all about Matt's podcast experiment here: Moneylab.co/money-making-podcastP.P.S. You can check out the Rental Properties course Matt and Andrew made at Listenmoneymatters.com/rei

Time to change things up! Jason Zook, founder of WanderingAimfully.com and Teachery.co, joins the show to talk about changing business models. Jason outlines how he and his wife decided to combine their businesses, launched a monthly membership site and changed their business model when they realized things weren't working. So how do you know when something's not working in your business? How do you find the right model and offerings that work for you and your customers? If you've been sensing a change on the horizon, this episode is for you. Enjoy!P.S. If you've never heard Matt's Entreprenuer album, check it out here: Moneylab.co/rap

What would you do if your traffic went south? Matt and Andrew answer an interesting question from a listener that applies to websites in slow decline and anyone seeing a dramatic drop-off this year. Here's the question:Let's say your SwimU traffic has been in a slow, gradual decline since 2016. You didn't notice it at first, but as you compare year-over-year in Google Analytics, it's obvious. And your monthly pageviews are lower now than they were this time last year, and the year before (taking into account any seasonal dips, of course). Where would you start to diagnose the issue? What are the first 3 things you'd do?Hopefully this episode helps anyone who's gone through this (or who's worried about going through this). And let us know if you have any more questions we can answer on the air!P.S. You can see how Matt uses Ahrefs for competitor research and website audits in his course, SEO for Bloggers.

We're answering your questions on the show today! Matt and Andrew debate what they're doing about the dips in the market (and dips in SEO) before diving into your questions: How do you focus on growing just one website? How do you manage an affiliate site when most affiliate programs are localized by country? If your current businesses just disappeared overnight and you know they were not recoverable, what would you do to start from scratch in 2020? Has either of you had anyone quit in your business? How have you guys formed most of your relationships with other online creators? We love these episodes, and we hope you do, too. So keep 'em coming! Enjoy!P.S. Would you take Matt or Andrew out to no-agenda coffee or happy hour?P.P.S. As always, you can check out Matt's latest experiment here: Moneylab.co/content

The script is flipped! Matt was recently interviewed by fellow online entrepreneur Doug Cunnington who runs NicheSiteProject.com. They spent an hour in Matt's studio talking about their different affiliate marketing philosophies, from keyword research to being public with your affiliate sites (which not everyone does). And since Doug was doing the interviewing, Matt got to give an entire overview of how he got started and how he runs each of his online brands. We thought it’d be nice to share that perspective on this show, for both new and long-time listeners who want a 10,000 foot view of how Matt approaches affiliate marketing. Enjoy!P.S. You can find Doug at NicheSiteProject.com and at YouTube.com/DougCunnington

Guess what: Google wants your website to load in under 1 second. Matt and Andrew talk about why they're obsessed with page speed as a competitive advantage in their online niches. They talk about the "easy, big wins" you can do today to speed up a site. They also debate how they decide what features to keep and what to cut to help speed things up. If you're looking for a way to one-up your competition on Google, this page speed optimization episode is for you. Enjoy!P.S. Check out Matt's Page Speed Course here: Moneylab.co/pagespeedP.P.S. Here's the YouTube video where Matt explains how to stop Google Analytics from slowing your site down.

Procrastinate much? Matt and Andrew talk about the roadblocks they've hit in creating online products and what happened during the 30-Day Build and Launch a Course Challenge. They dissect why Matt hated the 30-day timeframe and Andrew's mental roadblocks to finishing his course. They also talk about the other distractions that got in the way, i.e. other projects that feel more in their wheel house. So what do you do when you start procrastinating on a project that needs to ship? Should you just suck it up and finish it? Or is procrastination a signal that you should be working on something else? Take a listen to find out how Andrew plans to hack through his mental block. Enjoy!P.S. Matt's course DID launch. You can check it out here: Moneylab.co/Pagespeed