SaaS Interviews with CEOs, Startups, Founders
Here's a Creative Artist Who Knows How to Make $1m with Molly Marie EP 234
13 Apr 2016
Chapter 1: What is the main topic discussed in this episode?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per talk. Five and six million. He is hell-bent on global domination. We just broke our 100,000-unit soul mark.
And I'm your host, Nathan Latka. Okay, Top Tribe, this week's winner of the 100 bucks is Rhett Gillins. He's in the restaurant industry, and he feels sick. stuck. He wants to start his own software business. So congratulations, Rhett, for your guys' chance to win 100 bucks every Monday morning.
Simply subscribe to the podcast on iTunes now in order to enter and then text the word Nathan to 33444 to prove that you subscribed. Coming up tomorrow morning, Top Tribe, you hear from Randy Reyes. And I just asked him, why is he so scared to share his revenue numbers? Okay, Top Drive, good morning. Our guest today is none other than Molly Marie Kaiser.
She's a college dropout where she had $50,000 in debt, started her first business at age 19. Since then, she's founded several businesses now worth over a million dollars. Her most recent endeavor, Venture Sports, or Venture Shots, Shorts, I apologize, helps nine to fivers leave their cubicle to create a business and life with more passion, purpose, and adventure.
And Molly, are you ready to take us to the top? Heck yes. Always. Let's do it. Okay. So first things first, what was your first business at age 19? Yeah.
So my first business was my photography studio.
Okay. And what year was that?
Well, it was 19. So I think it was 2007 or so.
Okay. 2007. And so how did you make money at the studio?
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Chapter 2: What was Molly's first business and how did she start?
He said that in the bio that you sent over to me, he said now worth over a million bucks. So in 2015, the portrait studio did a call. Let's call it. It's under 300,000. So let's call it $200,000. How much did a booty shorts do?
Yep. Uh, we did again, like again, not exact numbers, but between 300 and 500,000. Okay.
And what about venture shorts?
Yep. Venture shorts is just a little over six figures because it's brand new. Um, so yeah, as far as the million dollars goes, that's how much, you know, if I was to sell my companies, um, it would be worth over that.
So, well, that's, uh, well maybe, right. I mean, is this recurring revenue?
Yeah, I mean, for sure. For sure. Booty shorts would, you know, you take like if you're going to sell it on Flippa or something like that, you would take, you know, the gross average monthly revenue, you know, times what is it, 12 or 24? Gross for an info product? Yeah, that's what I've read for Flippa.
No, no way.
OK, well, then I am. Wait, hold on. Hold on.
Let me make sure I understand, though, because I might not understand because we just we're just now talking. This is like booty shorts. What's the price of the product?
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Chapter 3: How did Molly transition to boudoir photography?
OK, but yeah, so it's but it's one time. I mean, but if you can't do the whole one time up front, you can pay it in like three chunks or something.
I do actually 10 to 12 months. That's very small payments that they're making like seventy nine dollars.
My point is this isn't like a membership site where you're paying 20 bucks a month and you can pay that for perpetuity.
Right. No, it's not. It's a course, you know, but yeah, up to 10 to 12 months. But we launch it once or twice a year.
So help me understand how you feel like if you're launching this once or twice a year, it's a one time sale. If you did a net present value on this stuff, if you if I bought the business from you and you didn't exist in it, why would it be worth anything?
Well, I've never sold anything on Flippa, but that is what I mean. You know, according to the website, they've contacted me wanting me to sell it. And like, according to their details and things like that, you would do the math on that. And that's how I got the asset, though.
I mean, you know, that's better than anybody. You're unique personality. And if you don't come with a sale, this thing doesn't sell.
Well, yeah, I agree with you that, yeah, it definitely is a unique personality, but we have been kind of moving to make booty shorts more like community based so that we're having blog posts from, you know, like guest posters and things like that. So it's not just 100 percent about me.
We're kind of moving to make it a little bit more towards, hey, you know, I do have some products, but some are taught by other photographers as well. So, for example, I have a course called Boudoir Shooting Camp. And that's where I actually have about four or five instructors where we've all taught portions of the course. And so, yeah.
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Chapter 4: What revenue streams does Molly have in her business?
Back of the napkin it for me.
Ooh. Um, I don't know. Maybe I'd have to ask my accountant, I guess, but somewhere between probably 80 and 90,000. I really don't have that many expenses.
Okay, cool. Well, you didn't say you had three full-time employees.
Um, actually just the project managers full-time and the other two employees are part-time.
Okay. Got it. And then do you have any like marketing expenses where like Facebook ads, things like that?
Yeah. Facebook ads. So this year we're definitely going to have a lot more of expenses because I've been really, uh, going heavy with the Facebook ads.
Okay. Like how much have you spent on Facebook ads this year?
Um, right now I'm spending about a hundred to $200 a day. So that's not super heavy, I guess, for some people, but 36 grand, 36 grand a year.
If you keep that same pace.
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Chapter 5: What is the difference between Booty Shorts and Venture Shorts?
Don't you agree?
Yep. Totally.
Yeah. So repeat the exact question again.
So the question was, again, why? So you said you have three pieces of advice for creatives who are just like they think they're always going to be broke.
yeah so um the other thing i really do think is mindset so i think a lot of entrepreneurs they don't really think about their retirement i feel like a lot of people make um you know a bit of money whatever it is and they're happy with that but i don't maybe think that they're maybe thinking about the future um so i think that that is really important to be saving for uh your retirement and things like that so really just like a mind shift
a mindset shift. So for me, I didn't grow up in a family where we had tons of money. So like no one ever talked to me about retirement plans or Roth IRAs or anything like that. So definitely like a mindset shift. Also, I think that it's okay for you to do multiple businesses once you get one
Um, going well, I actually hear a lot of the opposite from other entrepreneurs saying like, don't do multiple businesses, like make sure that you stick with one. And, and for me, that just wasn't the case, I guess. So that would be my tips.
Hey, sounds good. Well, if people want to follow your journey online, Molly, where can they connect with you personally?
Yeah, so I would love to connect with everyone via VentureShorts.com. And I have tons of free trainings on growing your list with selling digital products, having successful launches, things like that. So I would love to connect with you guys there.
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