Today we’re talking about different ways to earn passive income with special guest Jaspreet Singh.
Jaspreet shares his knowledge about how he started his YouTube channel, Minority Mindset. He’s turned it into an empire, not just through ad revenue, but also by creating a newsletter called Market Briefs, creating products, and selling ad spots in his newsletter.
In this episode, we reveal a lot of the numbers behind Jaspreet’s business. We talk about his struggles on his journey to becoming a successful YouTuber. Jaspreet also shares tips for working with a team, how he grew his business, and some mistakes he’s made related to pricing.
Jaspreet has some amazing words of wisdom for you, especially if you are brand new to the creator economy in 2022.
So sit back, listen in, and also make sure to check out Jaspreet's newsletter, Market Briefs, as well as The Minority Mindset on YouTube.
Jaspreet is the Chief Executive Money Nerd at the Minority Mindset Companies and the host of the Minority Mindset YouTube Channel. He’s on a mission to make financial education fun and accessible.
He started the Minority Mindset YouTube Channel as a hobby to teach others how to not make the same mistakes he made. The Minority Mindset brand has grown into a number of companies including Market Briefs, a free financial newsletter, and the investing education app Market Insiders.
Jaspreet’s brand has helped countless people get out of debt, start investing, and create a plan towards building wealth.
- Follow Minority Mindset on Twitter
- Minority Mindset’s website
- Follow Minority Mindset on Facebook
- Minority Mindset is on Instagram
- Follow Minority Mindset on TikTok
- Check out Minority Mindset on YouTube
- Minority Mindset’s LinkedIn page
- Market Insiders' website
- Market Insiders on the App Store
- Market Insiders on Google Play
- Subscribe to Jaspreet’s Market Briefs newsletter
- How Jaspreet comes up with fresh and relevant content
- The journey from novice YouTuber to over 1 million subscribers
- How Jaspreet finds advertisers for his newsletter
- Some of the numbers behind Market Briefs’ advertising revenue
- Strategies for diversifying your revenue streams
- Tips for building, nurturing, and compensating a great team
- Lessons Jaspreet learned from some of his early mistakes
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I had a talk with a friend of mine, and I was like, “If I ever hit a million subscribers, I’m just shutting the channel down.” I never thought it was going to happen. Now here we are with over a million subscribers.
I’m always talking about thinking bigger, yet here I was with this limiting belief on myself. If you think you’re thinking big, you’re not thinking big enough. Opportunities are endless. I never thought Minority Mindset would grow into its own business. This was just a hobby.
Our special guest today—I have to thank him because he has made me a lot of money, and not from online business, but rather his financial advice that I learned on his YouTube channel, The Minority Mindset. I highly recommend you check it out—Jaspreet Singhh is amazingly kind, generous, and a very smart person.
Today he brings us a lot of his knowledge about how he started his YouTube channel and how he’s turned it into an empire, not just through ad revenue on YouTube, but by creating a newsletter and creating products on top of that, and how he sells ad spots into his newsletter. He reveals all this and even how much he charges. It’s just such an interesting conversation.
My name is Pat Flynn, welcome to session 565 of the Smart Passive Income Podcast.
Today we’re talking about different ways to earn passive income. I know that I’ve helped make Jaspreet some passive income. One of Jaspreet’s offers that he made on his YouTube channel about refinancing, I remember going, “Oh, Jaspreet really helped me there. I’m going to make sure I click on his affiliate link for this refinance situation.” So, I was able to give them a little bit of a kickback. How much? I’m not exactly sure.
But we do reveal a lot of numbers today. We reveal the struggle of the journey, for sure, especially for somebody who wasn’t really great on camera up front, and he admits that. This is where we have a lot in common as well.
Jaspreet has some amazing words of wisdom for you, especially if you are a brand new creator here in the creator economy in 2022.
I highly recommend you sit back, listen in, and also to make sure to check out Market Briefs, his newsletter, as well as The Minority Mindset on YouTube.
Here he is, Jaspreet.
Jaspreet, welcome to the Smart Passive Income Podcast. Thanks for coming on, man.
Hey, Pat. Thanks for having me. It’s good to be on with you.
It’s so trippy to talk to you live because I watch your videos all the time. And I have to just tell you publicly here, you’ve saved me a lot of money. You’ve helped make me a lot of money. So, so, so thank you.
And this is in regards to mostly real estate
My man, I’m glad to hear that. I appreciate that. I’m glad.
With all the different financial related things, anybody in the finance space could talk about. I mean, there’s so much, how do you decide what to create a video about.
Oh, you know, that’s a good one for me. I went through a lot of different stages of trying to figure out what video want to talk about, but right now it’s really just. What is happening in my life. So either I’m having a conversation with one of my friends and he’s like, he, or she is like, oh, I’m trying to get a job.
Or I’m trying to sign up for a 401k. I don’t know what’s going on. And I’m like video idea, or I’m watching, you know, what’s going on with inflation. And I’m like, this is crazy video idea, or I’m going out and I’m investing in real estate and I’m like, oh, this just happened. Video idea, or something happens in the stock market.
So it’s. Things that I’m involved in, which I think is one of the reasons why people really like the videos that I make a Minority Mindset. It’s just because I talk a lot from personal experience and everything is just things that are happening around me right now.
I love that. And when you get an idea, is it a I’m going to go film it right now and it comes out tomorrow or what’s the workflow like in terms of idea to, to publication.
You know, it depends. It’s not, it’s not a recorded today. Come on tomorrow, unless it’s a super like trendy topics. So if it’s like something that has to do with Satan, a new inflation data or something that just happened to the stock market real estate, then yeah. That’s going to be recorded. And then coming up very soon, it might be the next day might be two days just depending on what it is, before more of the educational content.
I might try to build a little bit of a backlog and I say, I might try to, because it just depends on what’s going on. Cause they have so many different things happening and I’m always trying to build a backlog of this type of evergreen content. but it’s hard for me to maintain it
Because sometimes, you know, I just get busy with other stuff like before the holidays, the new year.
I think I had like a solid month or so of, of evergreen content. And that was great. I mean, it was just like, this is awesome. And then came the new year and I was everywhere. I was traveling so many different places, doing so many different things and I just didn’t have a chance to record for awhile.
And now I’m trying to rebuild a little bit of a backlog. So it always kind of just fluctuates based off of what’s happening around.
When it comes to a particular video idea, I’d love to know how do you extract that idea? What’s your work? What tools are you uSingh so that when you get in front of the camera, you kind of already know where you’re going, or are you just that pro that you can just alright. Record. I got this and boom.
You know, I would throw a big transition and a big change in this where in the beginning, you know, I didn’t grow up with any sort of like financial education and I didn’t grow up thinking that I was going to be on camera. So I had no like video experience. I didn’t know how to talk on camera. I didn’t know how to present myself.
I didn’t know how to speak when I was first making videos. It was very difficult. I remember my first video. You can still watch this on YouTube. It’s like three minutes long.
Right before that.
It was pretty bad, right. It took me, it took me two days of full recording to record that video. It was, you know, I assumed that I should not take a break that I shouldn’t cut.
I shouldn’t blink. Like I, I just need to be staring into the sole of the camera and just talk. And so I, I spent a full day recording yet. When I say full day, I’d be like eight hours trying to record a three minute.
And I was exhausted. And then I go and watch this video and I was like, oh, you know, I don’t like the way I’m looking.
So then I do day to another eight hours of trying to record just three minutes and. I knew that wasn’t sustainable. but that’s how it started. And so I started kind of recording, like thinking that it has to be just one full video, no mistakes. And I was scripting everything by words. English is my second language.
So, you know, I, I jumbled up words to say things wrong sometimes. So I would, I would script out the entire. And then I was like, you know, doing all the one cut is going to be impossible. It’s just not sustainable. So then I started, scripting it in jump cuts in smaller bits, and I would write it out word for word, because I figured that would be the best way for me to convey the message.
This. So I did that. And now recording a video, had three phases. It was coming up with the video topic and researching, which was the very intensive process and scripting, which now is writing the script, editing the script, making sure the script is okay. And then the recording now reading the script word for word, and then also the editing and publishing phase.
But then, you know, this, this is not. maybe a year and a half, two years ago, or so it’s still not even that long. I was like, why am I still scripted? It’s at least two years now, about two years. I’m like, why am I still scripting these videos? When like I’m scripting them. I skipped the way I taught. And I built a level of comfort where it’s like, I know what I’m saying.
I know how to talk. Now I know how to present myself. And that’s when I made that transition from scripting word for word to now, Making just the bullet points. I’m still doing my research about a topic. I still spend a lot of time researching and it’s not really like, you know, when people think of like tense research of a video, is this not really what it is for me?
Research is just mainly living life because my life has already, I’m reading the financial news. I have a company Market Briefs. We publish the financial news every day. I’ve always on top of that. I’m listening to economist, I’m studying I’m reading books, all these things. Things that I’m doing as it is.
And now I want to make a topic about, let’s just say, what’s going on in the houSingh market. Well, I already know what’s going on, but if I’m talking about a specific aspect that yeah, I’m going to research some more articles. So the research like isn’t like, oh, I got to go spend two hours learning this.
I’m already doing that in my life. It’s just might be finding a couple of the articles. And then the scripting phase is really just me outlining my thoughts. I might take a piece of paper, I just bullet point. Okay. I want to talk about this, this, this, this. And that’s it. I’m not sitting here writing what I want to talk about because I already know everything.
I just want to go talk about it. And then the recording becomes a whole lot easier because now I can just talk about the things that I know, and I know sometimes I can get a little bit off topic, which is why I need my bullet points. So I know I got to get back over here, but that’s how the process works for me.
And the reason why I was saying that, you know, I didn’t grow up imagining that I was going to be a video person. I didn’t grow up thinking that I was going to be an entrepreneur. I thought I was going to be a doctor. It was a tough process because, you know, w when was that ever, supposed to learn how to make a video, how to talk on camera, how to convey a message.
I w I was in law school when I started, Minority Mindset that.
And I was like, this is like I was going to law school in the mornings. I was a part-time student for the second half. So I’m in law school for like the first half. And then after that I’m working on Minority Mindset and then I was like, I need to learn to be better.
So then I went to night school for acting. Then I can learn how to talk on camera. Yeah. I didn’t know. I had no way of figuring it out. So that was, that was one of the things that I did to kind of just practice. And that practice makes it so much easier. But now, Hey, you know, if, if you just give me a topic, I can go and make a video on it, but I couldn’t do that six years ago.
Right. You have to, you have to live through the mess. Right. And as my friends say, sometimes like you have to be a disaster before you become the master. And you know, if you go back into my archive as well as definitely disastrous content,
I think your first video is much better than mine. just, just, you know,
Yeah, no problem. six years ago you launched this or six or seven years ago and sort of Minority Mindset. This was the name that you had when you knew that you were going to do this. What, what, what was the crux? What, what was the origin of that name? What does that even mean? My Minority Mindset. Why didn’t you.
So The Minority Mindset has nothing to do with the way you look or your skin color. It’s the mindset of thinking differently than the majority people. It’s all about that mindset. And the reason why it’s called The Minority Mindset is because all success starts with your mindset. You can have all the best tools you can have rich parents, you can have a trust fund.
You can have all the financial education, but if you have a broke mindset, you are going to live broke and you’re going to lose it all. But if you come from nothing. You don’t have rich parents. You don’t have a trust fund. You have to bust your butt. You have to work your way, but you are willing to work.
You believe that you can, in your willing to learn. Well, nothing can stop you because you have the right mindset. All success starts with your mindset. That’s what the name Minority Mindset is all about, where you have to have the right mindset in order to succeed. I call it The Minority Mindset because the majority of people got a broke mindset.
It’s a limited scarce, not like growth oriented, winning mindset. That’s why The Minority Mindset is all about understanding. Okay. If I think differently than the majority of people, where can I create opportunity for myself? That’s what the Navy.
I created the name minority minus that kind of an accident.
So I was working on a different company, was a sock company that I was working on and I was launching it. It was doing well. but I got scammed by a fake marketing company during that launch. And yeah, it was, it was unfortunate, but I was, I was a little upset. So I was like, what do I do about this? Do I cry complaint?
Like things aren’t going well, the company did very good, even though we were scammed. And so I decided to put out a class on UDB, and this is years ago now on how to launch a business without getting screwed over because nobody taught me this. I had to do everything in secret. I had to learn my way to do this because my parents didn’t want me to be an entrepreneur.
So it was like, it was just, I was just so frustrated. So I created this class out of frustration to help somebody out, kind of like me who was in a situation. Class was like $7 or something. And I did it under the alias Minority Mindset. The whole idea being, you have to think differently than the majority of people.
And. I always felt like I thought differently than the majority of people, because you know, when I was young, I was like, bawling my neighbor’s lawns. I was like, I want to start being financially independent, whatever that means to my parents. Like you’re dumb go study, but I always knew that there’s something else I need to do.
I was in high school, I started working, at weddings. I started hosting parties for teens in high school. I started a tea party business in high school. I went to college. I didn’t know. Happens in college. And my parents are not from the United States. So thought everybody goes to college to study and work hard to become a doctor.
I go there and everybody’s partying and I could not believe it. I was like, none of you have any money. And you, all of you are sitting here below and money that you don’t have through student loans on alcohol and parties. Like this is absolutely insane.
So I took my teen party business that I was wanting in high school, bought it to college, and I’m a freshman.
I was 17 years old. It’s funny to think back at this because I was 17. I started knocking on doors of every club, bar venue, restaurant on campus asking me if I can host parties here. And some of them said, yeah. And they were like, you don’t have to pay us anything. Just give us a percentage of the revenue that you charged the cover charge.
And now here I am 17 years old in business, starting this event, planning company. And, I, I didn’t drink, I don’t drink. I’m not into partying, but for me it was an opportunity to capitalize on what I saw, what was going on now. You know, I, I got out of that industry because I didn’t like the environment after it, but I built a pretty successful event planning company, all because I was thinking differently than majority of people.
Same thing. When I started investing, I started investing the money. Yeah. With all of my friends. So this put this in perspective. I’m 18, 19, 20 years old making pretty good money in college. I’m working in this event planning company where anytime somebody makes a little bit of money, they’re going to the Gucci store.
They’re buying a new car. They want to show it off. Right? It’s that entertainment industry, where it is all about the way you look. And I’m here shopping at, the Midwest equivalent of Walmart, where in jeans and just whatever’s cheap because I don’t want to spend any money. And so I started investing my money when everybody knew it was just buying all the brand name stuff.
And I was like, this doesn’t make sense. So that was what the majority mindset and Minority Mindset was all about internally. And then this class that I created, that was my first expression of The Minority Mindset by creating something, a brand as a way to educate this idea of thinking differently than the majority of.
Then that started to evolve into social media. People were like, Hey, this is really cool. Can you create an Instagram page? I created an Instagram page under the alias Minority Mindset to talking about the same stuff, things that I wish that I knew when I was getting started. And then people said, this is so cool.
Could you please create a blog? I was like, well, English is my second language. You don’t want to read a book that I wrote, right. Because it’s not going to make any sense, but I can talk. So I went onto YouTube and I started The Minority Mindset, YouTube channel. And that’s when I got into the acting school, the film classes, just to learn how to present.
And then now Minority Mindset is, you know, over a million subscribers on YouTube and we’ve grown into something a whole lot bigger. So it’s funny. It started off kind of as an accident because I got screwed over. But that mindset is what really. I mean really started. The whole thing was just that the idea of thinking differently than the majority of people.
And you have fans. Now you have people who recognize you. You have a culture within this brand that you’ve created over the years because you’ve been consistent. But with this approach and with this, these, these ideals, and these values that go along with that. I catch myself on video sometimes saying down in the description below and I’ll be like, no, I can’t do that because that’s, that’s just reach thing.
Like, it’s just it’s I dunno, you just built this culture.
I want to go back to when you started the YouTube channel, what was your plan with it? Did you ever imagine getting into this big business now that you’ve been able to create and this following? Or what was it.
No, not at all, not at all. I, you know, I remember when I started it, I was like, man, if I ever hit a hundred thousand subscribers on this, like, oh my God, like, that’s it like, that would, that would be amazing. Like I hit jackpot with it. You got to put some perspective. This is like, 25th, 2016, really started and there was no educational content, like no financial education content on YouTube then.
And to think that a hundred thousand weirdos Minority Mindset fans would be interested in finance. It’s just impossible. How many people are really care about finance? I was the only person that I knew they cared about it. So to think that a hundred thousand people would subscribe and join it. And I, I remember this had a talk with a friend of mine.
I’m my brother. And I was like, you know, if I ever hit a million subscribers, I’m just shutting the challenge down. Like this is not possible. That that was how, I, I never thought that it was going to happen. And now here we are over a million subscribers and I’m like, you know, I’m always talking about thinking bigger.
And yet here I was with these own limiting beliefs on myself, which has shows you like. You, if you think you’re thinking big, you’re not thinking big enough. You know, there’s just opportunities are endless. And I never thought that Minority Mindset would whatever, grow into its own like a business.
Because for me, this was just a hobby. I was running my sock company. I was doing real estate. I was doing a lot of other things and I was just doing this because it was a way for me to talk about the things that were important to me. In a way that, you know, I just, I can just put it out there because I would talk to my friends about it and they would, I know they would get annoyed and they would get bored talking about the same thing all the time.
So I stopped doing that and I started talking about it on YouTube. And when I started, it’s kind of funny because I didn’t even know that I could make money through the videos that I was making. A buddy of mine came him and he was like, Hey, just how much money are you making off of YouTube? Like, what are you talking about?
He was like three advertisements. I was like, I don’t know what you’re talking about because I didn’t turn advertisements on, like again, what are you talking about? So he showed us, goes into the YouTube backend with me and he’s like, dude, you don’t even turn on monetization on your ads, just turn your ads on.
And you can start making a little bit of money through the videos. And I was like, wow. I, it that’s how, like for me, it was just a hobby when I started and now Minority Mindset has grown into something so much more, but it was like, I never expected.
With the channel. When did you know that it was like you had something here, right? Nobody knows how it’s going to be at the start. At what point were you like? Whoa, this is, this is like the I’m going to go even more into this now.
Yeah. You know, I think it was right around a hundred thousand subscribers. So I was working on the side oh. A year and some change. So a little bit less than a year and a half. it took me. He might’ve been year half, actually. It, because it took me a year and a couple months to hit 30,000 subscribers.
And two months after hitting 30,000 subscribers, we hit a hundred because one of the videos that went viral, you know, this is one of those things where it just takes one video. It takes one piece of content to really take off. And that’s what happened to me like for the first year. And let’s say two or three months, I was grinding and, you know, under 30,000 subscribers to get there.
Just one video took off and then that was, took us to a hundred.
And when I hit a hundred, it was a very unique time because a couple of things happened. I was working on a sock company that I was telling you about, and there was a technology behind it. And my goal was never really to build a sock company.
My goal was to ahead a technology behind it, a water resistant technology. Then my goal was to license. So the sock company was more of a proof of concept, which I could then use as leverage to take to the, some of the bigger athletic companies and say, Hey, license, this technology from us. Well, right around the time I hit a hundred thousand subscribers, our Patent got denied.
They said it wasn’t original enough. It wasn’t unique enough. And so I was like, okay, what do I do here either? I can continue building the solid company, but just find it was making good money. It was profitable. It was, it was fun, but I wasn’t passionate about socks for me. It was, it was, I liked the idea of building a bus business, but that sock passion wasn’t there Minority Mindset.
On the other hand, wasn’t really making that much money. I mean, it was making it a little bit of money now that we hit a hundred thousand subscribers, but it wasn’t like a ton of money. And. I didn’t know what I was going to do with it. Exactly. But my passion for Minority Mindset was like through the roof.
Like, this is like, if I could do anything like this, I would, I would just do this. And that’s why I was doing it because I wasn’t, I started it just for fun. So I was like, well, this might be. The blesSingh in disguise. Cause maybe I can just do minority mice and trying to figure it out, figure it out how I can turn this into something bigger and just focus on providing the best education and the best value to our viewers and our subscribers.
So I decided to do that and. So that was around a hundred thousand subscribers. And that’s when I started focuSingh just on the content. And, our content started to grow, started providing value because you know, one of our core values here at The Minority Mindset company is. Always lead with value.
You’ll notice that, you know, we don’t, we don’t really hard sell anything just because it’s not us. If you want to buy something, Hey, go ahead. But you’re not required to purchase anything. My goal is here to provide you with the best education, the pest to value possible. That way you’re going to walk away.
Wow. That was awesome. I want to come back and watch more. So that was always been our core focus at minority mice is providing the value. And then at around half a million subscribers, that’s when I realized like, okay, there’s a lot more that we can do than just making YouTube videos. So around half a million or 600,000 subscribers was when I realized that I could turn this into a real business.
And so that was when we started creating new products. one of them being the first product that we created was actually Market Briefs. It was a part of Minority Mindset first, but we recently spun it off into its own company. Market Briefs is a financial newsletter. It’s completely free and it’s a morning newsletter made for investors by investors.
And it’s a way for. My issue was, I love keeping up with what’s going on in the financial world. So now I have subscriptions to everything. As I was reading the wall street journal, I was reading CNBC. I was reading Yahoo, finance, and just a whole bunch of stuff. And so what mark debriefs does is we break down all the top view.
And you said that you can read in five minutes or less and it’s written in a fun way. It’s Widdies is it’s, it’s just entertaining. And so that was the first product that we created. You created it through Minority Mindset, but then as it started to grow, we spun it off into Market Briefs.
And you said that was free.
It’s, it’s free.
First of all, where could people go check that out
So you can check it [email protected]
The reason why it’s freeze because we will, we want people to read it, but the way we make money is actually on the backend through businesses. So we have sponsors that have sponsors on the newsletter and that’s how we monetize it now, because I know you have a lot of entrepreneurs on this.
I can talk a little bit about the business side of that. So the reason why a market Bruce has been very successful. In a newsletter game is because we changed how, advertiSingh has been done on newsletters because back in the day, I mean, I think that the common advertiSingh style for newsletters and blogs has just been like banner ads and just those, those cheap looking, click baity, stupid ads that don’t convert that nobody wants to pay for it.
Nobody wants to click on and no business is really making any conversion on. So what we do is we create native. At text. So, the way I’d use that as formatted is, we have like a WhatsApp everybody’s section kind of based off, you know, I always start my videos with what stuff, everybody, a quick intro, what’s going on in the financial market.
We have a market breakdown of what happened in like the Dow Jones, the S and P the NASDAQ Bitcoin, Ethereum gold. We have a quick financial tip of the day. We have a main story, and then we have, might have another story. And then when we get to the advertisement, the advertisement, so we are our newsletter.
Spent a lot of time crafting this ad text because it’s a balance between we want to promote the product, but we don’t want to come off as a sales pitch. So what we spent a lot of time trying to do is how do we figure out how to promote a product in a fun way? That’s entertaining that reads just like a newsletter that will you actually read the advertisement, because if you read the advertisement and you enjoy it, now we created a win-win situation because you don’t feel like you’re being sold to you’re enjoying what you’re reading and the business benefits because now, well, they have more people reading and more people clicking.
I mean, if you just think of like some of your. Favorite commercials or advertisements. These are fun commercials, things like that. You enjoy watching. That’s what companies spend so much money trying to create the perfect commercial for the super bowl, because they want to have an advertisement that people want to watch.
So we’re trying to replicate the same model. It’s an advertisement that people want to read that you don’t feel like you’re being sold to as a fun, engaging native advertisement. That’s now benefiting the reader and it’s also good for the advertiser. So that’s the way that we monetize it.
How are you selecting or how are you finding advertisers for the newsletter?
So I have, a team for that and the way that we find. So I guess there’s two pastas. How do you find it? How do you select the finding process is, is twofold. We have an inbound and outbound process, inbound process as well. I already have a lot of people reaching out to Minority Mindset, me for advertisements.
And I am very, very, very selective with who I talk about on YouTube one, because I can’t talk about everyone. And second, I’m only going to, I really only want to talk about the things that I’m uSingh. And so, you know, the people that pitched.
I just send them over to the sales team at Martin debriefs. So that way they can filter them and see if they’re interested.
Second is the outbound process where they’re actively reaching out to businesses. so kind of what we do is we actually just look at, if you look at like, the affiliate agencies out there, so you have like commission junction, CJ, you have impact radius, you have a few others. And then, the first thing is we just look at the companies that are doing.
And then we reach out to them to see if the BIA tested advertisements. And then, they also have their other kind of lead generation where they’re, they’re creating databases of companies that would be good fits there, and then they’re reaching out to them. But so that’s kind of like the now how we start generating leads now, the way we filtered them out is.
We have our own criteria of companies that we want to work with. So we want to make sure the company is credible. You want to make sure the company has been around a long time and we want to make sure this company provides real value to our audience. So we’re not sitting here selling, you know, things that are just hype-y scammy, random crap like that.
These are real companies selling real products. Like a lot of them have a lot of. With things. I talk about a Minority Mindset. So things like you, don’t say I’m on finance or fund dries or other companies that might help you be better with your money because the, the, the user is for investors. So we, you know, we want to create some sort of synergy, right?
If you’re an investor, what’s a product that can help you out. It might be a stock brokerage. It might be a real estate account. It might be a cryptocurrency brokerage. It might be, you know, healthy food. We try to keep things in, in that type of word. It’s how do you perform better as a person, but we do not get into any of the hype, the scammy stock picks any of that.
We don’t sell securities. We don’t do any of them.
I mean, that’s your reputation at play if you, if you were to go down that route, right.
I love the idea of going to like a CJ or a ClickBank or some other affiliate situation. And then you already know they’re looking for, for help to build their business, but you don’t necessarily need to do the affiliate stuff.
I know you’ve done the affiliate stuff. I’ve clicked on your affiliate links for things related to refinancing and stuff. So thank you.
But I like this idea because then you can reach out and have a legit conversation. See if there’s a fit.
On both sides. And if you don’t mind me asking and you don’t have to share, but how big is the email list and how much would a spot be?
If I wanted to buy an ad spot, for example,
Through the selection
Would it cost me?
So we are just in the process of spinning off right now. And the reason why we’re spinning off is because we weren’t able to give Market Briefs enough. On The Minority Mindset channel. So what that means is we kind of have our own products on Minority Mindset, things that we’re promoting and Market Briefs was just in the back-burner market.
Brief was something that was just on the homepage of the website. We did market it for a small portion of time back in 2019, maybe a little bit of 2020. And then we kind of just let it go because we were so busy promoting other products. so right now the newsletter has just under a hundred thousand Or, so. users on it. And the thing that, I want to mention on that, because we have a very engaged email list, that when I say very engaged, we have an average open rate of just under 50% right now. So it’s it’s
And the reason the way we’ve been able to get there is we filter out that one is a very it’s.
We do a double opt-in. So when you want to join the newsletter, you have to. do the double opt-in and then second, we do like get pains where if you’re not engaging, then either we’re going to re nurture you. Or, if you don’t do that, we’re going to kick you off the list because we want a very fresh list.
We want a highly engaged this to people. And so we just brought on a new sales person. And so we’re filling that up right now, but, about $1,000 will get you a spot. On the newsletter, assuming that you fit the criteria, we reject a lot of most companies that come our way. So is it just hard to one get accepted, but then Adria accepted.
That’s the price that we’re looking at right now per deal better. and then so the sales team really started enacting in January. We are probably 80% full for January, and now we’re looking into just filling up February and March. February right now. So we’re recording this in early January right now.
So I know this is going to live later, but we are almost 75% full of February already. So our goal now is to fill up the months that would then be cause of raiSingh the pricing, because I think we have more pricing room and leverage there, but we haven’t been, we haven’t tapped that yet because we want to fill up the calendar.
Be. You know, then with the supply that increased the, the pricing there
So a thousand dollars. And if you imagine, you know, 50% open rate, which is huge, that’s amazing. So it’s like 50 K people and that’s Daily, it’s a daily newsletter,
Six times a week.
Six times a week. Wow. When you calculate that that’s 2 cents per essentially open or, or view and with its integration more natively, I mean, that’s a that’s a massive deal.
I’m, I’m, surprised you’re only charging a thousand
Yeah, trust me. Our whole teams has been on me for that. And my whole thing is before we raised the prices, I want the calendar filled. Once the calendar is filled, we will raise prices. So we’re, this, is one of those things where I want to refine the sales process because that’s kind of newer for us. So it’s just a lot of things working and, you know, I’m okay.
Charging a little bit less to build the connections, to build the right team, to build a network of sponsors, because it’s funny. just before this, I was on a call with our newsletter sales person and one of our writers and, They were like, oh, we just ran. I think I forgot how to be. The package was what we sold a package to this company.
We just finished it and they were like, wow, the results blew us out of the water. We want to double the amount of sponsors that we just bought. So it’s it’s we want to build a trust so people could see the value once we can show them the value, then selling is not a problem. I don’t. It’s not hard for us to do that when we can show them the results.
But the first thing I want to do is I need to, we need to build that the network, we need to build that whole team and we need to build the whole process.
I mean, you’d mentioned that value first as one of your values. This is obviously, you know, you’re providing that. And I think that it’s going to be doing really well. So Market Briefs.com for people who want to check that out,
That’s one of the products, what, what’s another product that you, are doing to support your business outside of advertiSingh revenue on YouTube.
So second company that we have started is market insiders, which is a financial education app. You know, it’s an actual app. You can go to market insiders.com to check it out. When it say it’s a financial education app, the way it works is you can sign up for a 10 day free trial. And every week you get live coaching sessions.
So it’s a coaching session on real estate investing stock market investing in cryptocurrency investing. And when you join, you also get the classes. So we’re building up more classes, but we have a stock market class and a cryptocurrency class. We’re building out a real estate class. That way now you’re getting real coaching from real investors.
And the reason why this is like I went down this route is because there’s a lot of crap out there. I’m sure. You know? but in the, in the investing space, one. If you want to learn how to invest your money, you want to actually be investing your money and you want to learn from somebody who knows from what they’re doing.
And so we go out and we’re finding very intelligent, very experienced, very successful investors. And these are not gurus. These are actual investors. We find them and then they become teachers. And what they do is they teach them their experiences. They teach them the failures and to teach them their successes.
And so these are people that have at a very minimum, hundreds of thousands of dollars invested, if not millions of dollars of their own money, invested into markets they’ve had above average returns.
And we have separate coaches for stocks, real estate and crypto, and for the $27 a month, the G you get all of it.
And it was one of those things where, you know, try it out. It’s we have a 10 day free trial. You can try out everything and see if it’s right for you. And if you like it, then you can continue on with yet. So that’s what that products were, how that product works. And it’s funny because a big thing that I kind of battled.
On YouTube, kind of on the more personal end is, you know, our YouTube channel is called Minority Mindset. And originally just like when Market Briefs, mark insiders was under, like, it was a part of Minority Mindset. It still kind of is, but it was under minority minds. Everything was under Minority Mindset.
But then we ran into the, kind of the dilemma and issue of what is Minority Mindset. Because if you ask most people, what is Minority Mindset? Most people would say Minority Mindset is jealous. Put it, it was like, it was, you know, are we a YouTube channel? Are we a creator or. At that became much more difficult now, because now if you think about building a business, because some of these are real businesses, like Market Briefs is its own company that we could potentially sell or do something else with later on a statement market insiders.
But if it’s under Minority Mindset, what, what is it now? W we, we’re not trying to sell this. We’re trying to build these companies because of something that I really enjoy doing, but it just kind of differentiate that having the ability to market these products and having their own marketing channels.
It became very confuSingh and that’s when, I made the decision to, okay, let’s separate these create them almost like sister companies where, you know, Minority Mindset now becomes more of me. It is more of my personal brand. We have a blog still, but it’s more of my personal brand rep teaching is financial education, and then I can send people wherever.
You know, I feel. If, if I’m making the video about what’s happening with inflation, well, then I can promote Market Briefs, go check out our newsletter. I’ll make a video where I talk about how to invest your money in real estate. We’ll go check out market insiders. That is our financial education tab.
If I’m making a video talking about refinancing your mortgage, well, then I can give you a sponsor just like how you were talking about right. So. It’s minority minds has become a place where it’s more of me and I can send people wherever it is that I need to go. And which you’ll see is a lot of videos.
You don’t have any promotion. It’s just the education. And that’s, again, goes back to the leap of value. If there is a good promotion, a good place for me to recommend something, I’ll recommend it. Assuming it’s something that I believe in that I trust or is our own product. but, but the main thing is the value.
That’s what allows everything to, to grow.
Love it curious on market insiders. Why an app specifically?
Well, it goes really just to the user experience. so when we market insiders is a newer product, we launched that towards the end of 2021, as a beta test to see how people would like it. Because, you know, the issue that I always had was I didn’t want to go down the route of creating expensive classes.
I mean, I know we could, but I just didn’t want to, because. If I charged us a thousand dollars on how to invest in stocks. Well, if you only have a thousand dollars to invest and you spend that just on the education, then I want you to have the money to invest in stocks. So that was why we started off with a low pricing, subscription model.
That way you can get a whole bunch of value and you can get the reoccurring, value because even in Minority Mindset, we have a bunch of coaches. We help you have consultants, coaches that have hired. And the things that I’ve found to give me the best value are the ones that continually meet up with us every two weeks, every month they’re they’re monitoring us.
And then they keep giving us feedback. So I was like, how can we kind of replicate that through, you know, something? And that’s where this app or subscription model comes in. It’s not, one-on-one it’s group coaching, but you still get people that are keeping up with what’s going on in the markets. And then they teach you.
Based off of what’s going on. So, you know, the federal reserve bank changed its interest rates. You learn that now, can I ask you a question? Why an app? So when we launched it as a beta, we were doing it through, the, the live sessions were hosted through zoom. So they would watch the zoom call, attended through there.
And then we would take the zoom recording and then put it into a different, management system. We used to think ethic, which is, which was fine. But it just created a lot of confusion because the discord was where we can be talked to everybody. So you go into discord, and then you watch it on zoom and then you want to watch the recording and go to Thinkific.
And it was just a whole bunch of movie pieces, which was fine for the beta to get everything out, to see how people liked it. And people loved it. I mean, it was just so much value in here. So now we’re we built out the app because now everything is in one place. It’s super easy. And then in terms of, so that’s the UX, the user experience is very easy.
One place to do everything. And then on, in terms of just, kind of the monetization revenue side, an app allows us to do a whole lot more things like push notifications. We can do things like, communicating directly with the user. So it provides us with a little more value there. but also the, you get the, we get the UX benefit.
That makes, that makes sense. And also having it developed as an app, you can push out an update that has more things, a lot easier. You can customize it. You might be able to have, you know, in-app purchases for coaching one-on-one if you want it to, I mean, there’s a whole bunch of things you could do with that through the apple and Android ecosystems.
So that’s, that’s awesome. I have a question about the instructors that you have. I have a lot of people who watch and listen to this show who. Are considering either creating events or products or courses that not just integrate themselves as experts, but other experts on the outside too. Just like you have, what kind of deal are you making with them?
How are you able to, like, are you giving them a rev share?
You, how do you partner with them in that situation?
So that’s, that’s, that’s the million dollar, not even the million, that’s like the a hundred million dollar question because that’s where, how do you figure out how to do that? And I have gone through. Many different scenarios. So I’ll back up a little bit because previously we did have a class, a stock market class that was taught and now I invest my money in the stock market, but I don’t like to say I’m a stock market expert because I know some people who are they’re way better than I am.
And so I brought on a buddy of mine who is, I mean, I would definitely consider him a stock market expert. He’s been doing a way longer than I have and that’s all he does. So I brought him. And, the way we did that was a revenue share. Now a revenue share is good because you don’t have to pay that money upfront, but it, if the product as well, it burns you in the backend.
So originally it was like a 40, 60 split where I got 60, he got 40. and then after, I think, 12 months, it, went to 75, 25 where he got 25 and I was getting 75. now again, the. It was good. And the reason why he continued to get revenue, share this, because he still had to do some sort of maintenance answering questions, being in touch with the community.
So if you want somebody to stay in touch and involved, they need to continue to get some sort of upside.
So, that was that. But then going into this, this app, We didn’t want to follow the same route because it just didn’t make sense for the way that we’re doing it, because it’s not just one person we already have, I think six coaches and we’re probably going to be adding more just to keep providing value. So for these, we’re paying the coaches, flat fees per session, and then we also pay them to stay engaged. and so that’s the way that we’re doing that. So it’s a very different model. Now the reason we were able to do that is because we have funds from other places to pay the higher fees. So it, you know, it’s a lot more expensive upfront for me to pay, you know, an investor with a million dollars in the stock market to come out every week to coach.
So it’s a lot pricier on our end, but, you know, thanks to everything else that we’ve built, we’ve been able to fund that. So. You know, w we’re willing to pay the higher price right now, knowing that, you know, we can build up the user base on, we can build up a good team of coaches and have multiple that way.
You know, we’re not relying on just one person. We have a whole team of coaches and you know, it’s going to cost you more. Now I do want to mention one more thing about that before. in terms of revenue share, because you want to keep your team motivated and you want to keep them engaged and wanting to work.
So like at Minority Mindset, we have a whole, we have a team of people, that work with us and our team. We call them money, nerds, our employees, our money nerds. everyone has, you know, the base salary, but then we also have a revenue share program where you get paid, not just your salary, but then you also get paid, based off of how well.
Whatever platform you’re working on is doing. So we have like a blog team. We have a newsletter team. We have our, your social team. So how are well, your platform is doing, that’s also going to trim in how much you get paid. See everyone gets, you know, very fair, very good base salary, but then the better your vertical does, the more you make.
That’s cool. I like that incentive. I also like the evolution of how you ran these partnerships.
When are you when you’re bootstrapping, you don’t have that kind of money maybe necessarily up front. So doing a rev share makes sense to start out with, and then you can evolve to when you get more funds, like you said, play the, pay, these flat fees and stuff.
And thank you for that, because that answers a lot of questions that I know my audience has. as we finish up here just for you, this has just been an absolute pleasure. give me a sense of how big each of the teams are for each of these different companies that you have. I’m just curious to see where they’re at.
So we have, six full time. W2 workers, that Minority Mindset, money nerds. but then we have a bunch of contractors that we work with. So let me see. So let, let’s start with Minority Mindset because our blog, we have two editors on staff and then we probably have maybe a dozen or so contractor writers, maybe a little bit more than a dozen writers.
These are they’re writing blog posts for Minority Mindset.
We have a couple people, that do the full-time, writing for Market Briefs, the newsletter. Then we have a bunch of contractors for, you know, our design team on there. and just kind of the backend support, probably two designers, a couple of backend support people.
We have, a full-time video person, and then we have, four, maybe four video editors that are remote contractors. We have handful of just, you know, 10 99, just general branders and all that. So, and then we have our market insights team, which is three, then they’re not minority, we’re all independent contractors.
And they’re like the team that works on that, like, three, main people. and then we have a kind of VAs for there. So, that’s, that’s kind of the breakdown of the team a core six. That then I’ll manage the freelancers contractors, VAs, all their
What’s the best advice you could offer with relation to team related to your business?
Make sure everybody’s on the same page and make sure everybody is here to win. You know, you have to make sure that your team is passionate and they’re with you and they’re not They’re not just there for a job And the reason why I know that is because I don’t do it that, you know, our first full-time employee, man, you know, She was good, but she was, I mean, no, she was not good. I’m trying to be nice here, but. If somebody is not performing, let them go fast. And there’s a lot of reasons for that because as first team member that I had, I brought on, I didn’t know what to expect because it’s the first person I’m hiring full time. And so I’m trying to coach her up, helping and. She just, wasn’t getting it. And a lot of mistakes, a lot of mistakes.
And I kept telling myself like, you know what, I’m going to coach. I’m going to help her. I’m going to help. Like, you know, it’s just like, I just need to give a little bit more training and seven months go by. And still nothing. I mean, it was just like, it’s just not good. And, there’s just so many things that went wrong.
I mean, just, just a lot of mistakes, just not even completing work. Then at the seven month mark, I was like, you know, this, this is just not working. And I let her go. The funniest story is why, why I’m saying fire early, not just so you, you waste seven months of salary and all time and brain power, but this was a number of years ago, but then the pandemic hit and I had Fired.
A long time before the pandemic. I don’t even remember how long, but it was more than a year before the pandemic, latter fire, a wild before the pandemic and the pandemic hit. And everybody’s going into unemployment. And guess what? I got a letter from the unemployment office saying that this person has now filed for unemployment from Minority Mindset. I was like, what? And I looked at the report and it shows that she had been fired from job after job, after job, after job, but to job. But I was the only person that kept her on for more than six. Which made her eligible for unemployment from Minority Mindset, but nowhere else, because you have to be employed for six months.
So yeah. So another reason why, you know, someone is not, it’s not cutting it, let them go early, be willing to train, be willing to work with somebody, be willing to mold, but you know, it’s just. You know, you need to find people that actually care about it. And you know, they miss taking care of your employees, taking care of your team, taking care of your people, give them some, if it’s a rev share, maybe equity, depending on what the product is, them feel like they are an owner and help them develop, grow and build something with you.
Thank you for that. And I have one more question for you Jaspreet. And this maybe I’ll ask for a 62nd or two minute answer, and that is specifically, I want you to speak to everybody who’s listening or watching this right now. Who doesn’t speak English first or who might feel like they’re not cut out or it doesn’t, they don’t look the part if you will, in order to become a successful business owner and especially somebody in a who’s stepping up to be on a platform like YouTube, that’s very vulnerable.
Very, everybody sees you here as you. I would love for you to share some words of inspiration and or advice to that person. Who’s watching, listening.
I’m gonna go back to what I said just a minute or a little bit before. If you think you’re thinking big, you’re not thinking big. You have to have the right mindset. Anything is possible. If you have the right mindset, you believe in yourself and you’re willing to work. you, have to be willing to work, be willing to bust your butt, work your butt off, but you need to combine that with the right mindset and the willingness to learn YouTube has decentralized education.
You can learn anything You want. I don’t care where you come from, who your parents are, how you grew up, what you look like. You can learn anything you want from YouTube. And if you have the right mindset, you willing to work and you’re willing to learn, nothing can stop you, but you need to be willing to work and keep willing to work.
Amen to that.
Jaspreet, thank you so much for your time today on the Smart Passive Income Podcast. I appreciate you.
What are the few places people can go to follow and find you?
Thank you Pat. I appreciate it.
If you want to see more of me, go to Minority Mindset. You can check us out, TheMinorityMindset.com. Check us out on YouTube, Minority Mindset, and everywhere on social, Minority Mindset. You can check out our free financial newsletter at marketbriefs.com, or you can check out our financial education app, MarketInsiders.com.
Awesome. Thank you for what you do. I appreciate it. I’ve personally benefited from it, and I’m sure others are going to after listening to this as well. So, thank you again, man.
Alright, I hope you enjoyed that interview with Jaspreet Singh. Again, you can find him at The Minority Mindset on YouTube and on his website, The Minority Mindset. You can also subscribe to Market Briefs there to get the newsletter. It’s something I’m subscribed to as well.
So, very, very good content, very, very good information about working with a team and how he grew his business, and even some potential faults of his that he’s working on right now relating to pricing and all that kind of stuff.
But it’s just such a real story. Real, real help that he’s offering people, myself included.
Jaspreet, I cannot thank you enough. Thank you so much for coming on. I appreciate you.
And I appreciate you for watching or listening all the way through. If you haven’t figured this out by now, we are actually posting these podcasts, not just as audio anymore, but on YouTube as well.
If you happen to be on the YouTube channel, make sure to give a thumbs up and leave a comment if you can, just so we know that you’re there.
Thank you so much. I appreciate you, and I look forward to serving you in the next episode of the Smart Passive Income Podcast.
My name is Pat Flynn. Peace out, and as always, Team Flynn for the win.