Entrepreneurship + Marketing with Scott Perry | Ep. 56

• Scott grew up poor in Alabama and started selling candy bars in elementary school. After the dot-com bubble burst 20 years ago, he was laid off and had to start his own business. He emphasizes that it's become easier than ever for anyone to start their own job rather than waiting to be hired.

Rather than wondering like, who's going to pick me, pick me, pick me. Just go ahead and like do your own thing.

• Scott highlights that you don't need college anymore - there are videos and resources for learning any craft. The key is focusing on the project itself rather than getting overwhelmed by permits, licenses, and taxes. Tiffany shares that Money Talk with Tiff went through many iterations and wouldn't exist if she'd waited for perfection.

If you wait until everything's perfect, you'll never start.

• Scott explains the concept of a 'buyer persona' - narrowing your focus to a specific demographic to keep messaging focused and budgets manageable. He walks through how to use Facebook ads to test audiences with small daily spends ($10-20) and refine based on data.

It all starts with the customer and figuring out who that customer is. If you're not reaching the right customer, it's either the wrong audience or the wrong message.

• Scott shares his experience marketing his Snapchat 101 book. He tested two audiences - women 30-50 and tech-savvy men 40-50 - and discovered the men converted better. He advises avoiding major markets like LA and New York due to high competition, and avoiding holiday and political seasons when ad costs spike.

I diverted my money towards that audience. It was like same spend. I probably spent $100 that week on each audience.

• Scott recommends partnering with micro-influencers who have fewer followers but higher engagement, rather than paying big celebrities. Cross-promotions on TikTok and Instagram stories can build audiences organically. He shares a story about a fanny pack company that got a Reese Witherspoon post but saw no sales increase.

• Scott explains how Amazon's algorithms promote products with good reviews. Getting 5-star ratings on podcasts and apps helps rankings. He suggests offering discounts or gift cards to customers who post about your product on social media to increase lifetime value and generate word of mouth.

• Scott recounts how after being laid off in San Francisco during the dot-com crash, he used his existing network of record labels and independent music stores to create an ad network. He connected labels with 50 stores in one fell swoop, taking a cut for the service. This became his first successful business.

The power was never in the technology. The power was always in the network.

• Scott shares the story of 'Pompous People,' a company selling decorative grass on Instagram that grossed $150,000 during the pandemic. He emphasizes looking at both obvious and non-obvious opportunities, checking demand on Etsy and Shopify before launching, and understanding your values and origin story as part of your brand.

• What have you done for a living and what skills does that translate to?
• What do you like to do and what do you want to do?
• Is there sustainable demand and a path to profit?
• Who do you need to partner with?
• What's your aesthetic, origin story, and values?