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Daniel Vassallo
I'm Daniel. I made $404,473 selling an ebook and a video course on the internet. AMA 👇
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2.5 years ago I decided to quit the rat race and I left my career in big tech to go work for myself, on my own terms. Initially, I was going to focus all my attention on building a SaaS, but I quickly realized I didn't want to put all my eggs in one basket. Fast forward to today, I make and sell educational info products, do some contracting (working quarter-time at Gumroad), run a SaaS business, and at the end of this month, I also plan to get into selling physical products.I made $550K+ in revenue since I started working for myself, with over $400K coming from info products. Ask me anything!
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Richard Fang
Amazing story! What's your biggest advice on selling educational info products? I've seen advice ranging from building out an email list to focus on building out a Twitter audience. What is yours? Thanks!
Daniel Vassallo
@richardfliu You have to find a way to make people know about you. Most people will be buying your product because it's you behind it. *You* are part of the product. Now, how do you make people know about you? It's all about going where people already hang out, and helping them. Build a name for yourself in communities where there's already thousands of people online every day. Answer everything you can for free. Then, once you start feeling you can't keep up with the questions, it's time to consider packaging everything you know into an info product. This approach solves two problems: What to make the info product about, and who to promote it to. Of course, I'm sure there are many other ways, but this is the one that worked for me (and for many others).
Ken Savage
Which came first the product or the community of followers? When you started selling how many followers did you have?
SKR
I've been following your journey on Twitter. I've a few questions: 1. When did you start believing this(selling digital products) could be a thing? 2. If you're doing it again with another product, what would you do differently? 3. Is it necessary to use traditional sales techniques(cold emails, calls, etc) apart from using platforms like Twitter?
Daniel Vassallo
@sanjrng 1. When I made my first $1,000 a few hours after I released my first product, I knew this was a viable income stream for me. I had no idea what the full upside was, but I had a strong gut feel that this was something I could continue doing for a living. 2. Nothing major. I made few promotion efforts that were too ambitious, that I shouldn't have attempted. For example, once I promised to review everyone's Twitter account if they bought my Twitter course, but I received so many requests at once that I didn't manage to keep up. 3. I don't think it's necessary because I didn't do any of that. But I'm sure it depends a lot on the product.
NotesbyHugh
Hey Daniel, been following you on Twitter for a while. Inspired us to create our own info product. What did you do to drive growth in the early days? Did sales occur instantly or did you have to lay the foundations for a while before sales took off? Thanks!
Daniel Vassallo
@hugh_dawkins Almost all my sales came organically from my Twitter account, simply by announcing them. For example, this single tweet directly made over $12,000 in the first 24 hours: https://twitter.com/dvassallo/st... ... Then I kept the momentum up by mentioning my product occasionally. After a month or two, almost all sales start coming from word of mouth (people recommending my products on their workplace's slack, private discords, on podcasts, etc). For new products, I'm also able to email my existing customers, which helps a bit as well. I have an email list of 19,000 customers now. But I still think Twitter is my best way to reach people.
Mike Ritchie
How much is your Twitter following worth to you? In other words, if you were starting at 0, how much would you pay to get it back in an instant?
Daniel Vassallo
@mike_seekwell A lot. I attribute almost all my income to it. Let's say that if you offered me $500K to shut it down, I wouldn't take it.
Li
@mike_seekwell @dvassallo Heaps of Twitter followers. Some are afraid to rely on social media with the changing algorithms and much rather have a emailing list under their control. Any views?
Youri Nelson
How did you deal with content switching? Managing different products, contracting etc... was that not super taxing on your mind? Curious what were your strategies to manage the plethora of tasks.
Daniel Vassallo
@youreka I like to practice 'intensity over consistency'. (which imo, is much more in harmony with our nature.) So, I don't context switch frequently. I go all-in on something for a short while (a few days; maybe a couple of weeks) and then I rest. Then, the next thing I pick up can be something very different from the last. When people ask my about what my typical day looks like I never have a good answer because I don't have a typical day :)
Kyleigh Smith
Hi Daniel! 1) What habits have you developed that changed your trajectory and why? 2) What habits are you currently working on building/maintaining, if any? Thanks!
Daniel Vassallo
@kyleighsmith I'm not a fan of creating habits. I mainly look for intrinsic motivation, and then the good habits follow automatically. Maybe creating good habits is useful for things like keeping my tax paperwork organized, and so on, but for creative endeavors, I never had a problem with bad habits. If I want something badly enough, the good habits emerge on their own. Maybe one "habit" that's been helpful to me is to keep plenty of idle time. It's hard to recognize good opportunities when all your time is tied up in busywork.
Levi Nunnink
I've been following you for a while on Twitter and IH. Love watching this journey. A few questions: 1. Do you do traditional investing as part of your income strategy? 2. Most of your income seems to have been from info products. How is your SaaS, Userbase doing?
Daniel Vassallo
@levinunnink 1. I don't anymore. I did a lot of investing in 2010-2019 (and made some good money from the tech bull market), but now I find investing extremely boring. In an effort to simplify my life, I closed all investment positions over the last year or so. There's already a lot of randomness in my life, and I don't want to also be worrying about the stock market. It's been a long time since I looked at the Stocks app, and it's very liberating! 2. Userbase is still there, but it's only like 2% of my income. It's only doing about $400 MRR, which is way below what I hoped. It's certainly a failed bet from a financial perspective, but that's easier said in hindsight :)
Levi Nunnink
@dvassallo Thanks, Daniel! One more question if you have time: Can you elaborate on why you're "bad for the economy"?
Daniel Vassallo
@levinunnink Haha, it's a bit of an inside joke on my Twitter, because many people claim that I've inspired them to quit their high-paying tech jobs to work for themselves on something that better matches their preferred lifestyle. Origin: https://twitter.com/dvassallo/st...
Vadim Demedes
Hi Daniel, thanks for doing the AMA! One piece of advice you gave here is to work on multiple products in parallel and I'm wondering, should there be a separate newsletter for each or one personal newsletter where I write about all of them in one place? I thought that the first option is better, since people subscribe to read specific stuff they're interested in, but at the same time there's no "single audience" to market my new projects to. Curious to hear your thoughts on this, thank you!
Daniel Vassallo
@vdemedes I think it's good to have a separate personal email list from a product-specific one. You can be more aggressive with product updates on the product-specific list since you know people signed up for that. On the personal email list you have to be more careful to make sure you're giving something to your audience with every email, and not just promoting your products.
JJ
@dvassallo I missed the part of your AMA later in 2021, hope you get to this question. I want to ask how do you keep up the engagement with your community aka. people and and reading your craft and probably messaging you every day in different social mediums ?
Abderisak
Congrats Daniel! Interesting stuff, reading up on your ebook atm. How often do you recommend tweeting, and what proportion of tweets are promotional versus others?
Isabel Nyo
Hi Daniel, Congratulations. I have been following you on Twitter and your story and lifestyle is admirable. My question - can you please share with us a breakdown of your time spent? Eg: x% on creating products, x% on working at Gumroad etc. Thanks.
Vijaykrishna Ravichandran
What ways do you suggest for people who do not have a large following to sell info products? Do we have to start with building an audience first?
Daniel Vassallo
@vijaykrishna_ravichandran I would highly recommend building an audience, but it's not the only way to do it. What's important is that you have a strategy: How will you get people to the top of the funnel? Is it going to be via paid ads, search engine results, content marketing, podcast mentions, word of mouth, etc. How can you get, say, 250 people to see your product page every day? What you choose depends a lot on your product, strengths, budget, spare time, etc.
Trey Cannon
Wow that's great news! Have you worked with any partners to make this happen or are you a solo entrepreneur. I'm working within my marketing business solo so I always like to hear how others are successful.
Daniel Vassallo
@trey_cannon Mostly solo. I created my first info product with a co-author, but the rest have been just me.
Daria Kalinovskaya
Hello Daniel! Did you do some paid ads somewhere? What do you think outstands from a content perspective that makes people actually PAY for an info?
Daniel Vassallo
@daria_kalinovskaya I only had some success from reddit ads, and it was only temporary. I made $17K from an $11K spent on reddit ads when promoting my AWS book. I briefly tried other ad platforms but had no luck and I gave up quickly. I think there's more potential in ads if I had the time to experiment, but so far I've preferred spending my energy elsewhere.
Alexis Llontop
Excellent story. Many congratulations. 🥇🎉 I have a question, did you do it all by yourself or did you delegate work to others?
Daniel Vassallo
@alexis_llontop Thank you! I made my first info product (the ebook about AWS) with a co-author, so we split the work (and earnings) 50/50. The other info products have been just myself. For my SaaS product, I hired a part-time employee for a while, mostly because I was extremely impatient to get it done :)
Cristian Cisa
Hello. Congratulations on those big numbers! Where do those sells come from? Did you already have an audience before making those info products? I think that making those products is the "easy" part, but getting people to know them and buy them is the real challenge. Don't get me wrong when I say easy, but I think there are lots of great info products with very little sells, how did you do that? Thanks!
Daniel Vassallo
@cristian_cisa1 Thank you! And I agree that marketing is the biggest challenge. I attribute almost all my revenue to having an audience on Twitter. I had about 11,000 Twitter followers when I released my first product (the ebook on AWS) on December 2019. That product made about $40,000 in sales in 2 weeks, and over $125,000 lifetime. I've seen many successful info product creators who had no social media audience and simply used SEO, paid ads, content marketing, their personal network, and other techniques. Unfortunately I don't have much experience with those, but it's a viable option for the right product.
Lalit Tyagi
I tried to sell products on gumroad but lot of time not accessible from India. dont know why. But amazing post-Daniel. I am also trying to launch our own SaaS lets see how it goes. Might take your suggestion and help to get to that point.
Nick Vitucci
Great job Daniel! What other projects are on your roadmap aside from the cutting boards that you've mentioned on Twitter/ig?
Daniel Vassallo
@nickvitucci That's the only concrete thing on the roadmap. I hope to start selling those next week or the week after. Longer time, I' thinking of creating another course, focused on 'fending for yourself'. Still very nebulous, but I think I have a good content plan. We'll see :)
Alex Couch
Wow. Well done. Could you speak to some of the foundational steps you took when you launched your course/book?