Vic
Hey Richard, can you tell us about your business, Funnel Engine?
Richard
Sure! funnelengine.com specialises in helping entrepreneurs setup their first sales funnel, whether that’s a simple optin funnel, a webinar funnel or a free plus shipping funnel giving away a book or an ecommerce product. Ecommerce funnels have proven to be the most popular ones we setup and we offer free funnel templates for entrepreneurs to use in their business as well as a done for you service. I’m moving away from marketing services now into a pure affiliate marketing business model as well as introducing some of our own products.
Vic
Funnels are so hot right now. Why is that?
Richard
I think it’s down to the fact that a software company came out of nowhere and went from 0 to 5000 customers in like a year and have been heavily promoting and teaching the benefits of funnels. That software company is click funnels which we use to build out all our funnel templates and funnels for customers. It’s also down to the fact that every entrepreneur needs to have some kind of funnel in their business to make any decent money - it’s a way of much better monetising your exiting traffic.
Vic
So you built your company directly on the back of ClickFunnels. Was that accidental or by design?
Richard
I had the domain before I started using click funnels where I was pitching $3k marketing funnels but it wasn’t taking off. After I started using click funnels and saw the power of the share funnel template to get people into the software and make money as an affiliate I repositioned everything to take advantage of that platform.
Vic
What’s a “share funnel”?
Richard
Click funnels has the ability for people to build out their own high converting funnels and then with one click share that funnel through a URL and if people use it to sign up to clickfunnels you get the affiliate commission which is 40% for life.
Vic
I see. So you pivoted from a services company to an affiliate marketing company, correct? And if so, how do you feel about that decision now?
Richard
That’s right, I went from content marketing to sell services to turning the blog into a high converting authority site that helps people get into click funnels. I’ve wanted to transition away from productized services for a while to actual products and it’s easier to start promote other people’s high converting products (as an affiliate) than to create your own plus you have no customer service issues.
Vic
That sounds like a pretty sweet arrangement! Do you have a team or are your rolling solo?
Richard
I had a team consisting of a funnel builder who would deal directly with the done for you customers as well as a VA and would pay for an expert sales copywriter. However my VA who was living in South America had to head back to the states so she quit. Then there was too much tension with my funnel building guy who wanted to sign up the customers as his own affiliate so right now I’m back to solo which is suiting me just fine. The only downside is the repetitive work which will go away entirely once I turn off the done for you service completely (when I achieve my goal of getting 100 people into clickfunnels as you get a car lease paid for!) and then I can just focus on content marketing and promotion which I feel strongest at.
Vic
Working in your “genius zone” - nice. 🙂 What’s your long term vision for Funnel Engine?
Richard
I’m in two minds whether to keep and grow the business past 100 click funnels accounts I’ve signed up (which should be generating at least $5k/m passive at that point) or flip it for a six figure exit. Having some money in the bank is a lot more appealing than cashflow right now at this stage in my life / career. I don’t have a long term plan more than to achieve a million in liquid assets before I’m 40 (2.5 years time) and to do that I’m going to have to build and sell a few more online assets.
Vic
Who is your ideal customer? The person who would benefit the most from your content and the product you promote?
Richard
Entrepreneurs who are making a bit of money online but who haven’t got their first sales funnel up. They know they need to figure out this thing called sales funnels and that’s where my content comes in.
Vic
How long did it take you to become “successful” (whatever that means to you) in business, and what advice would you offer to other entrepreneurs grinding out the hours, day after day?
Richard
I won’t feel “successful” until I get to 100 active paying click funnels accounts signed up (currently 47) as that will take me to $5k/m passive income and a lease on a car paid for. But more importantly that means my time is freed up to focus on bigger and better things including outside business like my health ha.
Vic
(and the second part of that question?)
Richard
I honestly don’t have any great advice other than if you stick at it long enough you will succeed as you stack the deck in your favour.
Vic
Sounds like great advice to me! 🙂 Thanks for sharing Richard.
One last thing: where can people find you online?
Richard
Thanks buddy - people can find me at richardpatey.com - I’m going to start removing myself as a persona from the funnel engine blog once I hit 100 so have the option to sell. But let it be known all new web properties will be hosted and managed at SpeedKills.io 🙂