Justin Cooke

June 16, 2016

You’ve hit a bit of a slump in your business. Your numbers are off, you’ve had a failed product launch, or you’re getting negative feedback from your customers in some shape or form.

The question: Do you continue to push through the dip or is this a sign that you need to bail out now and do something else?

Seth Godin’s “The Dip” tackles this issue in some depth and is the impetus for today’s show.

What Do You Do When Your Business Takes a Dive?

There’s no easy answer here and we won’t even attempt to answer it for you in this episode. What we will do, however, is share three specific dips in our business, talk about how we dealt with them, and then share some of the lessons learned as a post-mortem.

These struggles were quite raw in the heat of things, but we’ve had some time to reflect and wanted to share our stories and insights with you. If you’ve struggled with dips in your business I think you’ll appreciate this one.

Check Out This Week’s Episode:

Direct Download – Right Click, Save As

Topics Discussed This Week:

  • Mortgage Company
  • Niche Site Process
  • Investor Program
  • Final Thoughts

Mentions:

Spread the Love:

“Be wary of the partnership death spiral.” – Justin – Tweet This!

“If you’re so myopic in your view that you can’t see the bigger picture you’re going to miss opportunities.” – Justin – Tweet This!

“Knowing that you will likely come through on the other side stronger is I pretty powerful.” – Justin – Tweet This!

Have you made it through some dips in your business? How did it feel? Did you push through or bail out to do something new? Let us know in the comments!


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Discussion
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  1. Eugen says:

    Hey guys,
    Great episode, I’m sure it wasn’t super easy to do.
    One quick question about losing your Amazon and Adsense accounts. I haven’t ever lost mine so I’m not sure how that gets fixed, but isn’t there a way to use some backup accounts – at least until the main ones get sorted out?
    Cheers,
    Eugen.

    • Andrew says:

      I’d also like to hear more about that – what caused the loss of the Amazon account and has it been possible to restore it?

      (Enjoyed the honesty of the podcast – another good episode!)

    • Justin Cooke says:

      Thanks, Eugen…

      We lost our Amazon affiliate and AdWords (Not AdSense…did we say that?) accounts. We’ve been up and down, left and right with setting up additional accounts (as instructed by the Amazon team), contacting nearly everyone at Amazon via customer service, working back-channels with lawyers, etc. We still have a channel in the works and we need to get resolution with that before we can go into some depth on what happened here, but whether we can or can’t get some resolution here, we’ll be detailing everything just as soon as we’re able.

      • Andrew says:

        Hi Justin,
        You did say Adwords. But if you could tell us sort of vaguely why you ran into trouble so that we can avoid doing the same thing? I’m looking at buying one of your Amazon sites that would be a huge investment (for me) but would be worried if they were capriciously banning sites.

  2. Danny says:

    Thanks for posting such an honest podcast about the troubles with the investor program. The first step in becoming better is facing the problem and figuring out how to improve.

    Online businesses are so cheap (20 to 30x monthly profit) because of the risk involved. If you can figure out how to manage and reduce that risk, the investor program could become very big.

  3. Steve Blundon says:

    Amazing episode guys. Losing your Adsense account, AND your Amazon account? Most people would just lay down and admit it’s not their cup of tea. After all that, you’re still smiling and doing business. Just goes to show the level of risk you have to be able to live with, and be able to overcome when the chips are down.

    Cheers to you.

    Steve B.

    • Greg Elfrink says:

      Absolutely Steve.

      No one said internet business is easy, nor without its risks. However, the reward is also amazing. So when these things happen to you, you just got to keep going and keep plugging away :-)

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