Do you think your sponsorship of that UFC guy has actually improved business or did you just do it for bragging rights/love of the sport?
ShoeMoney: We actually never were able to sign with Matt Hughes for sponosorship. We were all set to do filming and stuff, Dillsmack even flew down last minute to do the video and stuff but then at the last minute Matt’s wife had a medical emergency and we just could never reschedule. However we do now host matt-hughes.com and also consult for other UFC fighters. We get the hook up for fights and the afterparties after the fights.
ShoeMoney: Do you think I am a entrepreneur? I never really looked at myself as one. Maybe I should look up the definition. Anyway… I never planned to what I do now. I just had some ideas and tried some stuff.
I wonder if you sometimes still get inspired by what other people do? Reading through some of the comments on here I tend to believe lots see you as a halfgod whereas you are just a regular guy who happens ‘to have a nose for business’ as we say here in Flemish.
ShoeMoney: Its true I am just a regular guy. A lot of times when I meet people at conferences I think they are a little amazed at how I just like to talk to them and hang out. I really enjoy talking to people and see what they are doing. Its amazing how people constantly build a better mouse trap. It is inspirational.
What are your thoughts on the speculations that a Google phone might be made. -WIGOB
ShoeMoney: I was suprised to see that the speculation points that google will make a branded Google Iphone. Its really not there style and I think it opens them up to some anti-trust issues. Google has always been really smart funding open source projects like the unofficial Google Browser FireFox and contributing to the unofficial Google OS Ubuntu. It would be more Googles style to get behind a provider and manufacture and just provide some extra tools. I just would be surprised to see Google selling phones directly. I think that crosses legal territory that Google does not want to get into. But we will see.
Who are the most inspirational women that you work with in the business?
ShoeMoney: My Wife would be #1. As I have talked about serveral times on there her work ethic and drive as a example its hard not to be successful. The most powerful person in my organization is Susan Baron who controls all finances with Shoemoney Media Group.
It seems like right now is a great time to get into earning money through a website / blog. Do you think these opportunities will come to an end, or increase more in the future?
ShoeMoney: I think it will just always evolve. The internet is just starting to see regulation and that will play a big part in the future of making money online. We have already seen an amazing revolution in affiliate marketing in transitioning from the email marketer to the search engine marketer. That will continue to evolve for years.
How do you balance the time you spend on your business vs time spent with your wife and daughter ESPECIALLY when you come up with a burning hot idea that is dominating your thoughts?
ShoeMoney: Its hard. We have a full time nanny and thats nice for working out of the house cause I can go upstairs and spend time with my daughter whenever I want. With my wife its double hard because she also has a very demanding career. We make it work. You just have to make time.
I was wondering if you have done any local online marketing? A lot of people dance around the subject and say try Craigslist, make sure you are in all the major directories, etc… No exact advice with numbers or anything. Just wondering if you have any answers.
Also, I didn’t know you live in MN, and I have been reading your blog for a year. I live in Minnetonka.
ShoeMoney: I actually don’t live in MN I live in Nebraska. Our datacenter is in MN at iphouse ;). I have had some offline success with craigslist but I am not sure how much it would play into search engine marketing. As far as paid directories Yahoo directory and BOTW is a must for any serious website.
Do you have any comments on how to help monetize non-commercial, non-technology websites?
ShoeMoney: I think it depends on the site. I would not use adsense cause it will just drive people away from your site… for the most part. Instead I would try to first go after a subscription model if possible. Course I am shooting blind not knowing what the site is about… You can also go the donation route or if its niche related try to find a affiliate.
What is your opinion on the value of gambling (sports betting, poker, horse racing) communities? Given that these can’t advertise using PPC (AdWords, etc. have a ban on gambling related sites), how do you recommend marketing them for growth?
ShoeMoney: I am really not qualified to answer this question since I have never had a gambling site but I think poker will be coming back within the next year. As far as promotion you need to think outside the traditional marketing space for sure.
ShoeMoney: I get up at 7am with my daughter until the nanny comes at 8 then work until 6 then workout come home at 7:30 to 8 see where we are at for the day and spend time with time with my wife. Then when my wife goes to sleep ill get in a few more hours of work until midnight or so.
do you think exist a bubble 2.0? if yes do you think the bubble 2.0 is going to burst soon?
ShoeMoney: I think there is always a bubble but as far as bursting soon… I dont think so. I think in the tech sector now we have so much better analytics that you dont see the buckets of money being poured in with zero return. HOWEVER we are like 8 years into a bull market and I expect a major crash in the stock market soon which is why I am light in there.
What factors do you look for in deciding when the time is right to buy and sell a website? Do you feel that revenue multiples are too low on sites such as digitalpoint?
ShoeMoney: Lee Dodd did a great presentation at the elite retreats about buying and selling sites. Maybe he will make a blog post with some tips. I have found some real gems on eBay. I think someone could just buy from eBay and resell on dp/sitepoint etc and do good arbitrage. btw check out the marketplace here
Your online store is really nice! Is osCommerce easy to install/use? We have shirts that are made already and want to start an online store. Google Checkout is easy for Buy it Now (one item only) but for anything else, they recommend an online store. Any tips for a newbie on how to setup a shop to sell tshirts and other merchandise or where to go for help?
ShoeMoney: Os commerce is pretty awesome. I have been dinking around with shopping cart software for a while and then someone suggested oscommerce and I tried it and had everything running in less then 2 hours. Its so simple to setup. I am still pretty shocked that people are actually buying shirts to be honest so I really dont have any advice to setup a shirt store.
What income generating investments are you currently involved in offline?
ShoeMoney: Well we just purchased a stake in a new local bank in Omaha. I still want to open st. marys bar and grill. and we are always looking at property. I hate the stock market. I just piss around with some money in tech stocks (ill post more on this soon)
Shoe, you are an inspiration and role model to many of us. I would just like to know who your role models were when times were rough…
ShoeMoney: My dad is a big role model business wise. He taught me everything I know about branding. My wife is a huge roll model in her work ethic and drive. My father in law has been very valuable to me in financial advice.
So you’ve been working out for a while now – what dumbbells can ya bench press these days bud? With a decent number of reps of course 😉
ShoeMoney: Last week we did 12 sets of 8. I did 95 lbs. I am not sure what my max is but I am guessing about 155? I will give it a try tonight! When I first started I could barely do the bar =( so weak lol.
If you’re partnering with a programmer for a site or a project (like AuctionAds) – how do you come up with a figure for how much equity you can give them if you don’t want to pay them in cash for the job?
ShoeMoney: The first time working with someone I would give them no equity and just give them a hourly rate. If you get some lazy ass then you just gave away something and they can sit on there ass and not do anything.
Did digitalpoint help you with your blog or websites in anyway if so how?
ShoeMoney: without a doubt. shoemoney.com launched from digitalpoint. digitalpoint still continues to be a HUGE source of referring traffic. I kind of built some street cred there then when I started my own blog it followed over.
Just like to know if you think its worth buying google cash or perry marshall to learn more tricks with adwords?
ShoeMoney: I had not heard of either until you mentioned them… they both look like ebooks? I think all information you can get is worth it. Even if you dont agree with what they say they will inspire you in some way.
If you had to walk away from everything you’ve worked for, fought for and earned today and had to start all over and recreate what you have, would you be able to?
ShoeMoney: If you are talking business wise… yes. Because I have done what it takes to get where I am at it would be easy for me to do it again. In fact I have been working on a competition to see if that is true hopefully it wont be another thing that gets put on the back burner 😉
I’ve been trying to really understand what makes the differance in the adsense contexual ads. The title? the seo url or the content. I’ve seen a targeted article have whack results that seem to be from the title/url..any words of wisdom for this?
ShoeMoney: The url no doubt. If you want to test it just make a file called like ringtones.html and put google ads on it and see what ads show =p
a lot of successful business people spend a lot of time working with nonprofits, given how you guys reacted with the 35W bridge disaster, I’d expect that you probably work with a few groups – care to talk about your volunteer/non-profit work?
ShoeMoney: I council men who are thinking about having weight loss surgery. My wife and I contribute to a bunch of charities in the Nebraska area. My wife volunteers and does stuff for the local breast feeding bank… We kind of just do things as they come up.
Do you have a college degree? Do you think it is something valuable for someone who isn’t going to seek employment?
ShoeMoney: I do not have a college degree. If you are never going to seek employment then I would say college is a total waste. I do think some core college classes can be very important though like for me business law, cash flow management, marketing I still rely on what I learned for that.
I have an idea for a web related “thing.” I think it’s a pretty interesting idea. The problem is, this thing is WAY out of my league. My normal ideas for “things” are typically very small and simple.
I’d love to just be able to give this idea to someone who can actually do something with it, and then basically say “Hey, here’s the idea. Do whatever you want, but give me a small percentage of whatever money you happen to make from it.”
Do you think something like this is actually possible and, if so, where would I even find the person to give this idea to?
ShoeMoney: Its probably not possible for you. If it was you would find a way.
You recently mentioned that you were still going to be concentrating on the mobile industry. Since you yourself have said it was saturated as all hell, care to elaborate in what direction you are going in?
ShoeMoney: The mobile industry is not saturated at all. Just affiliate marketing and ringtones. We have a bunch of things going on in the mobile industry I will probably be talking about soon.
Do you think you would be where you are today without the ‘Adsense Check’ in terms of popularity on this blog and your brand
ShoeMoney: I dunno… I posted that check July 8th of last year. The only reason it was posted was cause it had been leaked out and some people were claiming it was their own. The popularity of this blog actually hit about 3 months prior to that. It is however the most viewed url on this site by far.