Your Gumroad reality check

Why it’s a LOT harder than you think to make a full-time living selling $20-$50 products on Twitter

In 2020…

Across the ENTIRE PLANET...

Only 179 gumroad-ers made more than $100,000.

That’s the whole world, not just Money Twitter.
Whatever your current belief is about building a Twitter audience, hacking together a $25 ebook and platitude-ing your way to financial freedom….

You need to RUN THE NUMBERS.
Because here’s another reality check…

I am here to tell you that cracking 6-figures doesn’t mean “true” financial freedom.

And it hasn’t since, like, the 80s.

You need to think bigger.

You need to think like a 7-figure gumroad guru.

What do I mean by this?
By all means write e-books and launch products.

Ed Latimore and JK Molina recently made north of $40k each with their ‘Templates’ launch.

Yours truly has a few tweets in there you can model, and no I'm not an affiliate.
The real money, the real “play”, the real reason anyone builds an email list and the realest of real truths that I know Ed and JK would tell you themselves…
Is that backend offers are where you can build a 7-figure biz.

The ebooks exist to create a list of buyers.

Not to make a lot of money unless you have a GREAT product and a lot of eyeballs

From your own audience and/or from affiliates (who you typically would give 30-50%)
So the $25-50 product is your top of funnel

Much like the free + shipping books you see all over Facebook and IG (technically these are probably self-liquidating offers, a topic for another thread)
So what you want to do..

Assuming you want to do low-price product (and you may not if you want to maintain premium positioning)

Is to validate that the eyeballs you have access to like and trust you enough to buy from you...
Keeping in mind that you intend to serve the most eager and able buyers at a higher level

Might be a masterclass at $500, coaching at $2-5000, a community at $50-100/month (recurring revenue!)
If you're just getting started, and don't have your first offer, or a "high-ticket" offer yet

What "rich people problem" are you uniquely positioned to solve in a way that no one else can?
I say "rich people problem" because you need ppl experiencing a REAL problem (could be a desire, but pain is always stronger than desire)

They need to like you and trust you (part of that can be done by delivering WAY MORE than $25-50 of value in your lower priced product)
And you need to target the right combination of PROBLEM + AUDIENCE.

Simple example: TONS of 18-20 year olds would love to get jacked with a coach.

But how many can afford to work with a coach in a premium coaching model?
To summarize I'm not anti info products, I'm not anti Gumroad and I can think of countless examples of GREAT businesses that have lower priced products
The lesson is that if you want to earn a comfortable living online as a creator

You must RUN THE NUMBERS and not expect to magically, and consistently

Earn 10-20K per month from lower-priced products unless you have a KILLER product, tons of social proof and PLENTY OF EYEBALLS

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More from @oliviercantin

18 Sep
Someone just asked what their little brother in high school should read and learn, here’s my answer

Book by Carol Dweck

The Laws of Human Nature
Book by Robert Greene

King, Warrior, Magician, Lover
Book by Douglas Gillette and Robert L. Moore

How to Get Rich
Book by Felix Dennis

The Great Mental Models
Book series by @farnamstreet

The Undoing Project
Book by Michael Lewis

The Bitcoin Standard
And other books/classes by @saifedean
Newsletters and blogs worth your time:

@taylorawelch new email list
Read 7 tweets
9 Sep
Why naturally talented people make TERRIBLE mentors

In order for you to understand why those who are born with exceptional abilities are (probably) not going to be great mentors...

We'll use a framework called the four stages of competence:
Here's the thing: ppl are dealt a different hand via nature and nurture

Stuff like IQ, grit, extroversion, etc.

Thing is, with enough hard work, anyone can reach at least conscious competence, and in some cases, even unconscious competence
Read 12 tweets
7 Sep
Perhaps my biggest take-away from the last 18 months is that most people are bad at math

If you have X % chance of running into a situation that could kill you

And you end up in the X group (as opposed to 100% - X% group)

There is then a range of outcomes, including but not limited to Y % probability that you will die

The probability of you ending in the Y group vastly differs based on many other variables, many of which the results of your lifestyle over many years and your current environment
Read 4 tweets
5 Aug
My nuanced, short take on the pandemic:

Short thread
At a high-level, society is behaving as if a pathogen like Ebola is everywhere

In reality, what we have is a somewhat more virulent bug than influenza, and somewhat more deadly for those who have one or more comorbidity ( health conditions, like excess body fat, diabetes, etc)
The original images that came from China, with people dying on the streets, are quite suspicious

Are they real? I don't know.

What I know is that China has been fully open for long time.

And China greatly benefits from the rest of the world locking down / buying shit online.
Read 11 tweets
4 Aug
It was hard.

Waking up 4 hours before my job started.

I set the tone with my routine.

In 2017 I became obsessed with escaping the rat race…

During the day I had meetings to run, powerpoints to review, and targets to exceed...

And at night? I was tired... Trying to keep my marriage a happy one.

Although real talk… business building often bled into the night, too

But my real “ME” time, my true focus time? It HAD to be mornings.

From 5am to 9am, it was my time to forever free us from the corporate rat race.

My wife told me on Christmas Day: “you're still act like you’re trying to escape. But we escaped 2 years ago. And I'm burning out.”

She was right. Hit me like a ton of bricks.

Read 7 tweets
3 Aug
Blindly following is not patriotic

It’s cowardice

Taking a stance against government overreach and breaches of your human rights is real courage and leadership

You’ll be misunderstood, vilified and potentially attacked

Do it anyway

In time, you’ll be vindicated
When your elected officials directly, or indirectly, breath the bill of rights

They break the social contract

Any moral authority they may have had vanishes

Laws, rules and regulations that violate basic human rights are unconstitutional and will eventually be overturned
They’ve been debasing your currency for decades, effectively stealing from the middle class

While small business owners went bankrupt, and people went hungry

They didn’t miss a single paycheque

Worst of all… they’ve allowed censorship and this violated freedom of speech
Read 7 tweets

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