Rich Habits Podcast – Episode 94: How to Make Your First $1,000 Online in 2025
Hosts:
Austin Hankiewicz
Robert Krok
Guest:
John Hu, CEO of Stan
Release Date: December 9, 2024
1. Celebrating Podcast Achievements
The episode begins with hosts Austin Hankiewicz and Robert Krok expressing their gratitude towards their listeners, celebrating the podcast's impressive milestones in 2024.
Notable Achievements:
- Number One on Spotify Business Charts: Achieved in February and maintained for 43 straight weeks.
- Top 1% on Spotify: Among all podcasts.
- Global Reach: Streamed in 148 countries.
- Listener Growth: Increased by 117% in 2024.
- Dedicated Fanbase: Nearly 300,000 fans, with 70,000 being top regular listeners.
Austin shares his amazement:
"When I saw those numbers this morning, my jaw was on the floor... it's so humbling that you're here and we hope that you continue to find value in every single episode." [02:00]
2. Introducing John Hu and Stan
Robert introduces the guest, John Hu, highlighting his significant impact as the CEO of Stan—a platform that has empowered entrepreneurs to earn over $200 million online in the past three years.
Stan’s Mission:
“Whether you have 2,000 followers, 200,000 followers, or 2 million followers, Stan proves you don't need a massive audience to start making real money online.” [03:35]
Key Statistics Shared by Robert:
- 11,000 Creators Earned Over $1,000: Demonstrates the platform's effectiveness for side hustles.
- Average Following Size: 2,000 to 3,000 followers, indicating accessibility for creators of all sizes.
- Average Earnings: Approximately $1,500 in the first year on Stan.
3. John Hu’s Journey from Wall Street to Entrepreneurship
John Hu delves into his personal background, revealing a transition from a high-profile career in investment banking at Goldman Sachs to founding Stan. He emphasizes the pursuit of fulfillment over conventional success.
Personal Insights:
- Early Life: Immigrant background, raised by a single mother in North Carolina.
- Career Realization: Despite achieving professional milestones, he felt unfulfilled working in corporate America.
- Pandemic Influence: The lockdown period sparked his interest in the creator economy, leading to the inception of Stan.
John reflects:
"I think my story is really simple. It's so personal to Stan as well. I'm just an immigrant kid... I saw the creator thing and wanted to provide value to the world." [07:08]
4. Scaling Stan: Strategies Behind Rapid Growth
Robert commends Stan’s rapid ascent to $30 million in annual recurring revenue within three years, questioning the secret behind such impressive growth in a competitive market.
John’s Response on Scaling:
- Persistence: Emphasizes the importance of enduring setbacks and continuing to provide value.
- Compounding Efforts: Success builds over time through consistent efforts and learning from failures.
- Mindset Over Tactics: Focuses on emotional resilience and a service-oriented mindset rather than quick fixes.
John states:
"Persistence is key. You will hit failure, but see it as a learning opportunity and keep moving forward." [12:03]
5. Starting to Make Money Online with Stan
The conversation shifts to practical advice for new entrepreneurs aiming to earn their first $1,000 online using Stan.
John’s Step-by-Step Guidance:
- Identify Value: Find the intersection between passion and proficiency.
- Offer Disproportionate Value: Strive to over-deliver in every piece of content.
- Consistent Content Creation: Post daily to build and engage an audience.
- Monetization Strategies: Utilize Stan’s tools to sell digital products, courses, or exclusive content.
John advises:
"Just have this mantra of how can I help people... if you persist and provide value, you'll build a following within three to six months." [16:34]
6. Exploring Stan’s Tools and Features
John elaborates on the comprehensive suite of tools Stan offers, designed to streamline the entrepreneurial process by consolidating various functionalities into a single platform.
Stan’s Capabilities Include:
- Link in Bio: A customizable, mobile-optimized platform serving as both a website and portfolio.
- Digital Product Sales: Facilitate selling courses, ebooks, and other digital goods without logistical hassles.
- Community Hosting: Create and manage communities for exclusive access and engagement.
- Email Marketing and DM Automation: Integrated tools for effective communication and marketing.
- Calendar and Booking Management: Simplify scheduling for coaching or consulting services.
John highlights the affordability:
"All that stuff, by the way, if you buy in isolation, is like over $600 a month. Stan is just $29 a month." [29:42]
7. Overcoming Entrepreneurial Challenges
The discussion addresses the mental and emotional hurdles faced by entrepreneurs, emphasizing the necessity of resilience and a service-oriented mindset.
John’s Insights:
- Emotional Resilience: Managing fear of judgment and handling rejection is crucial.
- Iterative Improvement: Continuously refine strategies based on feedback and performance.
- Service-Based Mindset: Focusing on helping others leads to greater personal and professional fulfillment.
John remarks:
"Building emotional and mental resilience is probably the hardest thing. It's about how do I iterate through this and succeed despite the challenges." [37:25]
8. The Future of Stan: Upcoming Features and Initiatives
John outlines Stan’s vision for the future, aiming to further support entrepreneurs by introducing new tools and educational resources.
Upcoming Developments:
- Entrepreneurship Education App: A Duolingo-like app offering daily entrepreneurial lessons and reminders.
- Advanced Sales Features: Tools like order bumps and DM automation to optimize sales and revenue.
- Continuous Product Enhancements: Ongoing improvements to existing features to maximize user success.
John shares:
"Everything we're launching this year is about how we can help you get to success faster and set up stuff easier." [45:52]
9. Closing Thoughts and Encouragement
The episode concludes with both hosts expressing their confidence in Stan’s ability to transform entrepreneurial journeys. They encourage listeners to leverage Stan’s tools to overcome "cringe" and take actionable steps toward monetizing their passions.
Austin emphasizes:
"There's something out there for you and you need to start in 2025. Stan's going to be the easiest way for you to not just get the word out about it, but monetize it and build a business around something that you're super passionate about." [34:01]
John’s Final Encouragement:
"Go out there, go build, go persist. I would love to support you along the way." [49:28]
Key Takeaways:
- Stan is a comprehensive platform that consolidates multiple entrepreneurial tools, making it easier for creators of all sizes to monetize their passions.
- Success online requires persistence, emotional resilience, and a service-oriented mindset.
- Consistent value-driven content creation is essential for building a supportive and engaged audience.
- Stan continuously innovates to provide entrepreneurs with the necessary resources to scale and optimize their online businesses.
Listeners interested in making their first $1,000 online in 2025 are encouraged to explore Stan’s offerings and leverage the platform to kickstart their entrepreneurial ventures.