Study competition, yet be true to your real self.
Todd was born and raised around the City of Brotherly Love, Philadelphia. With over ten years of digital marketing experience, he has been an Affiliate Marketing Consultant and Advocate.
In early 2017, he founded MoneyHax.com, a place where people can find the hottest Fintech and Money Apps in one spot.
Where did the idea for your company come from?
I’ve always been a geek when it comes to the latest tech. After working in the Affiliate Marketing field I’ve sent offers to highly respected publishers from around the globe, more specifically Personal Finance websites.
After seeing how these guys operate I figured with my combined passion for tech, I applied to it creating MoneyHax, which is full of Finance related tech!
What does your typical day look like and how do you make it productive?
Like many, I get up in the morning and check my email right away. The site is only about two years old but I usually get at least 5 intriguing emails each morning to respond to. So I put the coffee machine on, drop off the kids at school, and head back home to do some correspondence.
After that, it’s all about income. I consult, I write as much as I can and keep grinding.
How do you bring ideas to life?
It’s all about the MVP, minimal viable product, so I’ve tried multiple ideas and 99% of them fall flat on their face. I bring these ideas to life because I don’t want to live without trying them out first without giving out too much money to start them.
MoneyHax is the difference though, it’s been two years of consistent, hard work. But without trying ideas out as quickly and as efficiently as possible, this site wouldn’t have happened!
What’s one trend that excites you?
There are a few Fintech concepts that have been introduced just in the past year or so, but my favorite is Card Linkable Savings. You link a Credit Card or Debit Card to an app and get money back shopping in-person.
It’s really the only technology that bridges online shopping and in-person shopping. It’s super interesting!
What is one habit of yours that makes you more productive as an entrepreneur?
Other than my addiction to Coffee, it’s the sheer belief that my business will produce enough income to satisfy our families needs and desires. It’s not there yet, but I wake up every day believing this!
What advice would you give your younger self?
I certainly would’ve tried this avenue out back in the day, due to lower SEO competition. It’s extremely tough to rank on Google these days, but if I were younger, I might just have been a superstar already.
Tell us something that’s true that almost nobody agrees with you on.
When I was looking for a home I noticed that Real Estate needs a big overhaul. There are so many apps out there that allow you to see a home by yourself without an agent. I know it’s a way of life for some people, but I always am up front in telling Real Estate Agents about new technology so they don’t lose out on other opportunities. Technology has changed my career path, I always seem to be a blabber mouth about what could change other fields.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Keep trying. At 22 I said to myself, “If I don’t have a business that is making a million by 30 years old, I’ll focus on a tedious job from then on.”
Being the stubborn person I am, I kept trying new business models and finally found MoneyHax. Now I am 33, and still trying.
What is one strategy that has helped you grow your business?
Study competition, yet be true to your real self. The old adage is Don’t Reinvent the Wheel right? Well studying your competition is important to your business growth, but you also don’t want to make your business just another one.
You’ll get blasted with Advertisements everywhere on the Top SEO Tips, or Social Media Strategies, but you are a square peg and you don’t always for the round hole. My business is different because I am different, don’t worry about competitors stealing your stuff, because there’s only one of you.
What is one failure you had as an entrepreneur, and how did you overcome it?
I once tried to re-sell junk on eBay for a profit, and while some do it successfully, it didn’t work out as well for me. Do a business that fits your lifestyle!
What is one business idea that you’re willing to give away to our readers?
Receipts are given in almost every transaction. It’s an advertising opportunity missed out by many restaurants, local shopping and more. Is there something there?
What is the best $100 you recently spent? What and why?
I recently spent $100 on some nice headphones and a Green Screen. Is it time to start a YouTube Channel?
What is one piece of software or a web service that helps you be productive?
Grammarly. It’s Free with an option to pay for additional services, but you’ll find it super useful to correct basic grammatical errors.
What is the one book that you recommend our community should read and why?
Stay Hungry by Sebastian Maniscalco. It’s a nice autobiography on what it takes to be successful no matter your profession, plus it’s kind of funny.
What is your favorite quote?
Rather go to bed without dinner than to rise in debt. – Benjamin Franklin
Key Learnings:
- If you haven’t already, keep trying new business models until you find the one right for you
- Stay focused on the tools and ideas that work for you, there’s a lot of noise out there!
- Study competition, but don’t worry about competition
- Use your own experience to find the right business model
Connect:
Carlyn runs the day-to-day publishing operation here at ideamensch and interacts with our awesome customers and entrepreneurs. She is likely editing this with a cat on her lap.