EFP 56: Bouncing Back From Failure With Trent Dyrsmid

Justin Cooke

July 18, 2013

How do you leverage offline business chops in the online world? When is it time to dump your current business and start in a new direction? Can you help others make money without falling into the Make-Money-Online swamp?

Introducing Trent Dyrsmid of Bright Ideas

These questions and more are what we set out to have answered by Trent Dyrsmid at BrightIdeas.co. After pouring blood, sweat, and tears into his offline business, he was able to sell it and walk away with $1.2M. Trent started looking at the online space to create a new business and, with a background in sales, he figured helping others make money online would be a great niche…until it turned into a $20K per month disaster.

Trent was crushed, but managed to pull himself back up and started his new company (BrightIdeas) which is having tremendous success when it comes to helping offline businesses with their online strategy. He’s now expanding his empire by adding multiple profit streams and streamlining his business through Infusionsoft automation.

It’s an amazing story and I was excited to sit down with Trent for an extremely candid interview about his experiences, struggles, and success in building an online business. You’re not going to want to miss this one!

Check Out This Week’s Episode Here:

Direct Download – Right Click, Save As

Quotables:

“I learned it sucks to sell stuff that doesn’t make people money…there’s no motivation to buy” – Trent – Click To Tweet!

“My idea with BrightIdeas was to get far away from the hater crowd and back to credibility” – Trent – Click To Tweet!

“Who do you blame, the people selling the magic pill or those asking that throw it away?” – Justin – Click To Tweet!

Topics Discussed This Week Include:

  • Our answer on what to do with content from expiring niche sites
  • Converting brick-and-mortar business chops (systems and process) to the online business world
  • Advantages and disadvantages that come with Offline Vs. Online businesses
  • The downsides of targeting the Make Money Online niche
  • Dealing with struggles and haters from his first online business, OnlineIncomeLab
  • When should you head in a new direction?
  • Killing it with BrightIdeas.co – Why is it working this time around?
  • Free Vs. Paid – Discussing the merits of both to get new customers through the door
  • Expanding the empire with the addition of new profit streams

Mentions:

– Check out the bottom of this page to watch the video interview with Andrew Warner from Mixergy – definitely worth it!

So…what are your thoughts on Trent’s successful pivot from OIL to BrightIdeas? Have a story you’d like to share? Let us know on Twitter, drop us a message, or leave us a comment below!


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  1. Joe says:

    Just listened to this, great podcast!

    I followed Trent from Oil to BI as his advice was always good, and worth following/listening to.

    His Mobilead product was really in depth and had pretty much everything needed to start your own web design firm in terms of finding clients.

    I don’t think his new product has been released yet but I’m sure its one to watch out for.

  2. darren says:

    Great interview. I’ve heard a bit of Trent around that place. He’s obviously a very successful at B2B.. I can see why he got the shits with the MMO niche… he’ll do really well with the Bright Ideas.

    • Justin Cooke says:

      It’s an awesome turnaround story, which is why I was stoked to have him on the show to talk about it. It’s a great example of finding YOUR right niche and a good product/market fit.

  3. Dan Franks says:

    Great stuff as expected from you two experts in your craft. I’ve heard the story before, but always have to laugh to myself when Trent just says “F it” with the niche sites.

    • Justin Cooke says:

      I know, right? In talking to Trent, I could hear/feel his frustration with the entire affair and get why he just wanted out of that side of the business. I’ve been following Bright Ideas and his appearances on other shows and continue to be impressed. His automation tactics are solid and I believe he really has Infusionsoft down…

  4. Great episode guys.

    Trent I LOVE the Bright Ideas podcast, and the first question I asked Justin when I heard you on Dan Norris’s was “is this the same Trent Dyrsmid”? as if that name was common…

    Good to see you back in the B2B world and away from all of those nasty MMOers ;)

    • Justin Cooke says:

      It’s interesting to see his “miss” (A $20K/month miss…but miss all the same) turn around when he really hits the right market and his skills start to shine.

  5. Steve Arnold says:

    Hey Trent,

    Congrats on bouncing back mate! I really enjoyed your podcast back in the day and it was one of the major catalysts for me jumping into online full time.

    It was a shame seeing things go south, not that I really know anything about your situation but it just seemed to me like things happened all a bit too quickly and got out of hand. That’s my outside impression anyway.

    Anyway, I’m glad that’s behind you now. Respect for being able to move past it and using it to become stronger.

    P.S I don’t remember if you coined the phrase or were quoting someone, but you were talking on one of your podcasts about how you felt that you had become “unemployable”… Anyway, that really stuck with me and whenever the concept of working for “the man” again crosses my mind, I can just hear you saying that word over and over in the back of my mind lol!

    Steve

    P.S Great interview too Justin :D Kudos

  6. Hey Trent

    congrats on the success of bright ideas.

    Justin great interview technique really balanced views aired.

    Cheers

    • Justin Cooke says:

      Thanks, Steve.

      Yeah, I really wanted to dig into the details on how he transitioned away from OIL to BI. It’s been an excellent transition for him (and for his new readers/listeners) in that it just seems like a really strong fit. I’m digging his content on marketing automation as it’s hitting me at just the right time.

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