Hey everybody, today I have Nathan Latka on the show. He is the former Founder and CEO of Heyo, which helps create fan pages, Facebook contests, and mobile-optimized landing pages, and is the host of a top podcast called, appropriately enough, The Top.
In today’s show we talk about how Nathan was able to build a successful business at such a young age, how he started out by cold calling people to sell Facebook fan pages at $700 a page, the reasons webinars don’t work for most people (but why they work for him), and how he grew Heyo to $5 million in revenue before selling it to a top competitor.
Download podcast transcript [PDF] here: How Nathan Latka Drove $4.5M+ in Sales Via Webinars with His ‘10x Partner Rule’ TRANSCRIPT
- [3:58] – The Heyo exit happened four months ago, and the multiple was over 10x.
- [5:16] – Nathan hits guest on his show hard on the numbers.
- [5:34] – Nathan uses email hunter to find top CEOs for his podcast. That is how he got powerful venture capitalist Tim Draper on his show.
- [7:41] – Having a blank calendar is the best for the learning phase and take advantage of real time information
- [8:30] – Warren Buffet reads about 500 books a day and his knowledge compounds
- [8:56] – Start small with learning and time management – cancel unnecessary meetings
- [10:15] – Nathan just turned 26, and he devours everything he can about marketing and now he is focussing on webinars
- [11:17] – Heyo drove sales through webinars $4 million
- [12:26] – A webinar snowball features someone who is a guest on a webinar and everyone mails their list. The snowball is when you have 10 guests and everyone mails their list.
- [14:17] – Nathan loves to track human behavior live through webinars
- [15:06] – His next project is big and tough and challenging. He is studying to find his next big thing.
- [15:39] – He is also investing in real estate and has an idea for a luxury B&B
- [16:06] – He is investing in building things that he wants
- [00:16:36] His reading system is a billionaire biography and then a strategy system. This plan rotates through seven books a week.
- [16:53] – To retain information he emulates the author for the day. He physically manifests what the billionaire does. He reads the strategy book and then implements it.
- [20:38] – Nathan’s podcast is the fastest growing business podcast. He is soon to replace himself as host and plans on launching industry specific shows.
- [21:44 ] – His ultimate plan is to buy magazine or networks or big companies. He has big plans. New media is going to change and the big networks won’t be as nimble. Nathan’s plan is to produce talented people.
- [25:40] – It’s a good strategy to look at what is working and then make it better and put your own spin on it.
Resources from this interview:
- Nathan’s Website
- The Top Podcast
- Twitter @NathanLatka
- Instagram Nathan Latka
- Nathan Latka Facebook
- Email Hunter
- Tim Draper
- Podcast with Tim Draper (ep. 129)
- Bad Boy Lee Atwater
- The Red Zone
- The Greatest Business Decisions of All Time
- Livestream on Facebook
- Get Nathan’s 2012 Tax Return by texting Nathan to 33444
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Disclaimer: As with any digital marketing campaign, your individual results may vary.
Full Transcript of The Episode
Speaker 2: Do you want to impact the world and still turn a profit? Then you are in the right place. Welcome to growth everywhere. This is the show where you'll find real conversations with real entrepreneurs. They'll share everything, from their biggest struggle to the exact strategies they use on a daily basis. If you are ready for a value packed interview. Listen on, here is your host, Erick Siu.
Eric Siu: Before we jump into today's interview, if you guys could leave a review, and a rating and also subscribe as well, that would be a huge help to the podcast. If you actually enjoy the content and you'd like to hear more of it, please support us by leaving us a review and subscribe to the podcast as well. Thanks so much.
Everybody, today I have a very exciting guest, his name is Nathan Latka, he is the former founder and CEO of Heyo, which helps you create a Facebook contests through fix and mobile optimized landing pages and a lot more than that. I think the big thing about Nathan over here is I think he is a big time entrepreneur to watch. He has a lot of aspirations and he also has one of The Top rated podcasts which is ironically called The Top. Nathan, are you ready to take us to The Top?
Nathan Latka: I am Eric. Thank you for having me.
Eric Siu: Thanks for being here. Why don't you tell us all a little about yourself and kind of what you do?
Nathan Latka: I'll do this super-fast and then let you grill the hell out of me. At nineteen I was studying architecture at the top ranked architecture program in the country which was Virginia tech. I quickly realized though Eric as you remember, back in '08 and '09, the big financial crash. Nobody was hiring architects. I remember overhearing fifth years when I was a sophomore complaining they couldn't get jobs. You probably have listeners like these. I'm like, "I'm not putting myself through five years of freaking college that's expensive and to not have a guaranteed job at the end." I went home that night and I started just, I never forget - I was wearing boxers my ex-girlfriend had bought me in my twelve foot by ten foot, white center back dorm room. You remember those hussle days, right man?
Eric Siu: Yes.
Nathan Latka: I started just cold calling people online that had fan pages. I sold, I was basically
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selling seven hundred bucks a pop, they'd pay via PayPal. Over six months while I was still studying I sold a hundred of those at seven hundred bucks a pop. My PayPal account was getting really big and got very exciting. Long story short, I had no idea how to actually build a fan page. I started refunding everybody and then said, "Nathan, come on dude, don't be so freaking lazy." I taught myself how to code. Eric, I'm actually curious real quick, do you code at all?
Eric Siu: I code a little bit.
Nathan Latka: I taught myself this thing. I like to think this makes me a developer, but developers listening are going to roll their eyes when I say this. I taught myself FPML which is I thought is like really cool but it's Facebook markup language which most people don't even consider real coding but whatever. A business guy doing it, I was proud of that. anyway, I coded this stuff, built it, then eventually found two full time co-founders.
This is when I turned twenty, over the last four years we've got a team of twenty five people, we've got to ten thousand monthly paying customers, raised 2.5 million bucks of venture capital from a Forbes billionaire and did over five million bucks in revenue. That was up till about February of 2016 or about two or three months ago. We just recently actually Eric sold it to our number one competitor. That is my life so far in a nutshell.
Eric Siu: How much did you sell Heyo for?
Nathan Latka: People always ask me this. Eric, I get hit so hard on this all the time because I don't know if you listen on my show, what do I do usually?
Eric Siu: You grill people.
Nathan Latka: I grill people because so many people lie about their success. It's really weird, I don't know why they do it. Here is, on the Heyo exit. It just happened about four months ago. I have an NDA that does eventually in terms of the total sale price. I can't share that. what I can share with you is the information that I just articulated, around number of customers and total revenue. I can also share with you the multiple on top line revenue, on the exit, was well over ten x. It was a really healthy exit for a software company.
Eric Siu: Here is the thing, let's go back to your podcast for a little bit. Being on your podcast, literally, this was the only podcast that I've ever had to prepare for because I knew you were going to grill me. You get through all the BS quickly and I think everybody should listen, we'll drop this in the show notes. Pay attention to The Top.
Nathan Latka: We'll do it. I don't know if you noticed dude. I actually started the show mainly for me, just because, you probably see this too, you are on the valley, you are in San Francisco? LA is probably even worse, people, they talk big games all the times. You
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never know who to actually study because you don't know who is actually having success. That's the point of the show, fifteen minutes every day, get The Top entrepreneurs on, including billionaires like Tim Draper from California and let's hit him hard on the numbers.
Eric Siu: Let's talk about that billionaire investor that you got. How did you got about getting somebody like that under your wing?
Nathan Latka: Great question. When people talk growth hacking. This is it folks. It's really simple. I use a few tools first to look anybody's email that I want. Eric, you probably have tools like these, right?
Eric Siu: Absolutely.
Nathan Latka: What do you use, what's your top one?
Eric Siu: Email hunter right now.
Nathan Latka: Me too, email hunter, I think it's .io.
Eric Siu: Might be .io, .com, whatever it is. Just google email hunter, you guys will find it. we'll drop it in the show notes.
Nathan Latka: It puts a little red circle target thing on almost every website. When you click it basically lists all the emails associated with that domain. If you know the CEOs name, you then know what email there is. Then you cold email them to get a response. That's what I did with Tim Draper again who is, he's raised about $10B. I think he is one of the most powerful and influential VCs in the entire world. Invested in e-learning before anybody else. Big deal. I cold emailed him and he replied. I told him what the show is about. I got him on. That turned out to be episode 129. Are you cool if I share the link to that?
Eric Siu: Yes, absolutely, we'll drop it in show notes. That one was incredible by the way.
Nathan Latka: That was one nathanlatka.com/thetop129. Eric I'm curious because I know you listen to a bunch of them, why do you like that one?
Eric Siu: I think for a guy like Tim Draper. You mentioned he's invested in EL Moscow, a lot of different people. Yourself, I find you to do great things a lot as well. I think he just had a lot of interesting stories to share. I think often times when I read or when I hear about people stories that's when I learn the most.
Nathan Latka: That's funny. There was question I was asking about how much he rising and all that. He is going, "Nathan, I think the SCC is going to come at me hard after this interview. You are getting me to share all these numbers I probably shouldn't be sharing.
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Eric Siu: The big thing is this, whenever I look to hire people I'm always looking for the people that are voracious learners. You look at people like Warren Buffet, they are reading five plus hours a day. Talk about your learning habits. Why are you so motivated to learn so much?
Nathan Latka: I'll say this. There is a time to learn and there is a time to earn. Right now I just sold the business, I'm very much in learn phase. There is a few things that I'm doing that I think will surprise people that are generating a lot of money but I'm really in learn phase. The only way you can truly get in learn phase is if you have a blank calendar. Busy, broke people typically have colorful calendars that they open up on their iPads and brag about how all the appointments are back to back and there is like thirty of them in one day. Eric, you have those friends?
Eric Siu: Yes.
Nathan Latka: People that are wealthy have blank calendars, because a guy like Warren Buffet, what he will do is he, he gets rich because he can take advantage of real time information based off what he studied over eighty years and make a decision faster than anybody else. People listening right now busy with busy schedules and you think being that is driving you to be successful. The fact, if a piece of information came up and hit you right now, you might not be able to take advantage of it because you have meetings the rest of day. Versus someone who has free time, can take advantage of that information now.
The cherry on tops is, if you are one and you read five hours a day. Each book is like a new piece of kind of knowledge and then knowledge compounds. Then more knowledge you collect, the better you can use that knowledge in real time scenario. I respect what he is doing. I am also now reading about a book a day. I'm reading about four hundred pages a day and that's what I'm in right now.
Eric Siu: What do you recommend? What process do you recommend to people that might have a 9-5 and they are unable to control their time as much. what would you do there?
Nathan Latka: You have to figure out a way to control your time. Unfortunately, there is not a quick one line or a sexy info part that I can wrap up and sell it to you. Part of it comes down to discipline. Those of you listening going, "Nathan, what you are saying is so unfair. I have three kids. I have to put food on the table, I'm only making 80k and my spouse is making 50k, I don't have time to read a whole book a day. You just start small. For example, when I first started this, I got into a habit, every Sunday night I would sit down and cancel as many meetings as I possibly could in the upcoming week, cancel them.
There is a lot of stuff you just don't need when you are really focused on what am I trying to get out of this week in all these unnecessary meetings? Just start there and you'll start to free more and more of your time.
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Eric Siu: I find it to be incredibly liberating. There is a lot of scheduling tools out there.
Nathan Latka: What do you use Eric?
Eric Siu: I use ScheduleOnce, that's currently out there. What do you use?
Nathan Latka: ScheduleOnce.
Eric Siu: It's been great. What I do is I'll block off most of my Wednesdays now. Sometimes I'm even blocking off Friday afternoons now. It's incredibly liberating to be able to do that and be able to control kind of your week. The more you block off the better.
Nathan Latka: That's right.
Eric Siu: Tell everybody how old you are right now.
Nathan Latka: Dude, I just have to tell you something real quick, you are freaking genius. I just found your LinkedIn profile and the way that you put projects at the top, with the link that goes right to the end, this is freaking genius, I just have to say that.
Eric Siu: Thanks so much.
Nathan Latka: Why don't people teach that? More people need to follow and study everything you are doing. I love that. What was your question? I was distracted by your brilliance.
Eric Siu: It's same to you, the question is how old are you right now?
Nathan Latka: I just turned twenty six.
Eric Siu: Here is the thing. One of my employees, Tom Lambert used to work for a company called BlitzMetrics. I just want to tell everybody how motivated this guy was in the past where Nathan did not know anything about marketing but literally tried to devour everything about it. Now he's become a star in terms of marketing, he's learned everything about it. I want to talk about webinars and how they worked out for you. can you talk about that a little bit?
Nathan Latka: Totally. One of the things is, I just have to put this out there. I know there is people like Luis Styles that left us and how to sell a course on how anyone can do a webinar. Here is the fact. Most people are boring as hell. Have you ever listened to a salesforce webinar?
Eric Siu: Terrible.
Nathan Latka: Lord of mercy, you fall asleep two minutes in. It's like some boring corporate person giving it that his hates their job, that just can't wait to get to the demos crap
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and to collect new leads, to putting out salesforce and trying to closing more deals and meet their quarter. It's horrible. Eric, the reason it works for me, and I think it probably works for you too, it just naturally jives with who I am. I am performer, I'm an entertainer, I'm really smart. I can put information inside of the entertainment to really deliver value. This won't work for everyone but I will tell you, we drove over four and a half million bucks in sales at Heyo, solely through webinars. That was our main growth channel by far. We would do a few things.
The main reasons webinars don't work for people, and those maybe listening right now are going, "Nathan, I've tried this." You might say, "I can never fill up a webinar, how do I get people on it?" You might say, "Nathan, I get a few people on it, but they leave halfway through." You might say, "Nathan, they come on, they stay, and then I don't know how to ask them for money or sell." You might say, "Nathan, I go on, I sell but no sales come in." Those are all barriers of people to really understanding and do webinars well. Starting with the first Eric. Dude, are you doing weekly and maybe monthly webinars?
Eric Siu: Yes, for the first quarter I was doing them every week or so but now obviously there is other stuff, other projects that I have in line, so not so much anymore.
Nathan Latka: They key thing on getting people to do webinars for you, it's called a snowball effect. When I first started Heyo, let's say we only had a hundred people on our list. I would email ten other people who I thought maybe had about a hundred people on my list. I would say, "Hi, we are looking to feature somebody that really understands email marketing. Can you come on and teach about email marketing in social media? In exchange, if you do that, I will email my list about you and you email yours. Deal?" One out of two people would say yes to that.
Here is the trick, because everyone is thinking I was going, I just swap every time, I don't get leverage there. Keep listening. Here is how you get leverage. You get ten people to come on the same one webinar that you are doing and you give them each five minutes to teach their number one tip in social media or even marketing or whatever your niche is. They are each sending out one email with only your link to the webinar to their community. You are sending only one email out to your community with ten links in it. That is a quick way to ten x your followers, if you invite ten other people with about your list size, tell them you'll email for them. The thing is, maybe they do or don't realize this. You are sending one email or ten links in it, and each of the ten people you get to commit are sending dedicated emails on your behalf. Eric, does that make sense?
Eric Siu: Totally makes sense. What do you call this tactic?
Nathan Latka: I don't know dude. There is not a sexy word for it.
Eric Siu: You should name this thing.
Nathan Latka: The ten x partner rule?
Nathan Latka Page 7 of 13 Eric Siu: I love it. This is something people don't talk about often. I think we definitely, this is something we are going to break up for sure. We are going to steal that name.
Nathan Latka: Do it.
Eric Siu: The next partner role right there.
Nathan Latka: Eric, I don't know people are always I think scared to talk about this kind of stuff, but this is like when push comes to shelve, this is what it comes down to. No one is just going to email you for free, they have opportunity cost. You have to convince them and usually the easy way to do that, say, "I'll email for you." But where you get leverage is putting multiple people in one email.
Eric Siu: That is golden. You've done Heyo unit. You are studying right now; you are doing all the stuff. I've heard about you and I've even joined you in one of your webinars to learn about what you are doing next. What is next for you, what do you kind of see in the future?
Nathan Latka: I'm curious, from that webinar, what perception did you get in terms of what I'm doing next, if you had to guess?
Eric Siu: You did do it, the webinar portion, you did a pitch afterwards. I thought this was just kind of to see, you kind of testing the info market world because I know you are kind of against it. I wanted to see you, I think you were just testing it from a marketer's perspective to see how it worked out for you.
Nathan Latka: I'm probably psychotic to honest with you. anytime I can get a live audience, I just play tricks on them while delivering amazing value. I just love doing that. It's so fun for me to track human behavior alive. That's exactly what I was doing there. You might remember at the pitch I was like, "Listen, I don't need your money, I don't want any of your sign up, and guess what? I'm going to get pissed off if you email me and ask me for a refund because too many people buy shit they don't need, then they ask for a refund, and they don't even open it or log in."
I was just having fun. I was doing the anti-sale on that just to see if that whole approach worked. What I'm doing next is; number one, I want to do something big and tough and really challenging. Because I'm twenty six, I'm not married, no kids, no house, no car. I can literally be anywhere and do anything. I'm financially fine, I don't even need a paycheck. I'm studying. It's really weird Eric what is happening.
As I've created all this free time, there are just things that are hitting me that are like money coming in. For example, sponsors have been begging to come on the show, the podcast. I've finally said yes to a few. That's making some interesting amounts of money. I'm taking money I made and I'm putting it in real estate. I'm considering building a private Airbnb concept, where I'm going to buy my own little hustle, it'd be basically luxurious living. Something crazy.
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It'll be like a luxurious Airbnb where I'll have a unit in LA, a unit in New York, a unit in DC and a unit in Austin. That way I can never pay rent because I don't think people like us by the way we want to pay rent. I think we want to experience this. Kill my two grand per month rent, instead, just pay a grant to my site basically and I can go just stay in these units and I can move around whenever I want. I'm building, I guess it's something Eric, I'm investing a lot in building things that I want. I just know if I just talk about on podcasts like this, other people are going to reach out and say, "Nathan, dude, I want access to that, how do I get it?"
Eric Siu: Totally makes sense. I guess you come in with these different ideas. One question that comes to mind for me right now is, what are you reading exactly, if you gave us like a top three.
Nathan Latka: People ask me all the time and it's so difficult for me to do that. Let me tell you about the system of how I'm reading. It's a billionaire's biography and then a strategy book. Billionaire biography, strategy book. Seven books a week in that schedule. To routine information and actually use it. When I read it, like yesterday for example I read a book on Red McCombs who is billionaire. He founded iHeartRadio and Cumulus radio and car dealerships in St. Antonio. I will then act like him all the next day. If in the books it said, he typically wears X, Y, Z, I'll wear X, Y, and Z. If it said he eats this, this, this. If it said he wakes up at this time, I wake up at that time. Then I just try and emulate him because when I actually physically manifest what that billionaire does, it helps the knowledge they have that I read in the book actually stick with me. because I tie it to the muscular kind of emotion of who they were as a person. Does that make sense?
Eric Siu: Totally makes sense.
Nathan Latka: I do that and then I read the strategy book and then implement. Billionaire book, strategy book, implement. That pattern now is working well for me. I'll tell you the last three books I read. Lee Atwater, one called Bad Boy. This Bad Boy book you are not going to find online really. This is because I had to do a lot of research to find out this guy's name. This is Donald Trump's dad mentor. The title is called Bad Boy. It's the story of Lee Atwater who died in 1984. If you google search Lee Atwater and Donald Trump, you'll see them back in the day being buddy, buddy.
Lee Atwater invented negative politics. By far invented, by far, he attacks ... He got bush elected, he got Reagan elected. Lee Atwater invented this and it's a science. If you read that book you will see exact phrases that Lee uses, that Donald trump now is literally using word for word. Literally word for word. That was a good one. I just got done reading the red zone which is about billionaire Red McCombs and strategically I just gone done reading Verne Harnish's book, The Greatest Business Decisions of All Time. Those are the three I recommend. I'll tell you too one of the ways. Eric you probably know this. What's one of the best way to retaining information for you?
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Eric Siu: I drop a bunch of bullets and I just catalog them.
Nathan Latka: That's a great way. also too though, when you teach on these webinars, when you teach other people what you've learned, it actually helps you learn it better.
Eric Siu: Very true.
Nathan Latka: Because you have to figure out how to explain it simply. I am doing Facebook live on nathanlatka.com/Facebook. My book a day videos, they are five minutes each. I summarize the book in five minutes. Give my biggest points and then have a little discussion with the audience about it, which saves them five hours from reading the book, saves them twenty bucks from buying it and I try and give them my best. That's really helpful in terms of retention of information.
Eric Siu: Super smart. How is Facebook live working out for you right now?
Nathan Latka: Again, you probably noticed about my schedule, I always try and get three, or four five bangs for my buck. It's actually working really well. I was expecting when I did this to get ten, twenty people tuning in live. I'm getting thousands. They are lines, they are crowds, they are huge. This last video, riding riches, it was the book I reviewed on April 19th. I got two thousand and three hundred views and almost like a hundred comments. It is working well for me in terms of engagement. Again, that's because I'm naturally really good. Maybe top 5% in the world of twenty six year olds on camera.
Eric Siu: I am totally going to steal that. The fact that you can summarize a book, any type of book that you read and then retain that information afterwards and provide value and build an audience at the same time, that seems like a no brainer to me. Let's talk about building your audience a little bit. You have one of The Top podcasts out there. What does the number of downloads look like per month, just so the audience knows?
Nathan Latka: Good question. First off, were you ... I'm trying to think. We were already connected before I did this, right? The podcast, way before. Everyone told me I was crazy. I was launching it from south west Virginia in the mountains. You are in LA like a media empire, New York, a media empire. They are going, "Nathan, why they hell are you going to launch a podcast?" I said, "You know what? I'm doing it because I want these episodes." Before you know, I had about six months and we hit one million downloads. I didn't really know if that was good or not.
I took screenshots of the date from LibSyn which is my podcast hosting platform. I showed to someone Eric, The Top podcasters in the world, the ones you are thinking about right now. I showed it to all of them. I said, "Have you seen this before?" They are going, "Nathan, what are you doing? We've never seen a podcast grow this fast in business." I think it's the fastest growing business podcast. We've passed over 1.6 million downloads and we are doing about a quarter of a million per month in this month, in the past three months really. It's growing about
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150% a month.
Eric Siu: That's incredible, just give everyone context, mine is mostly focused on the text based, text startup founders or entrepreneurs. We are at around 250K total downloads. Nathan is growing way faster.
Nathan Latka: What about yours? I appreciate Eric that comparison but you are also more curated. Your audience is more focused. You are going to see me very soon do two things, number one I'm going to replace myself as the host and number two I'm going to use this super generic, The top entrepreneurs platform to launch industry specific podcast, which will have smaller audiences but more curated.
Eric Siu: Super smart. I think there has to be a master strategy around this. You are building this audience right now, you are using live, you are building this network and then you are doing all this investing as well. What do you think the ultimate plan is, what are you doing to do with this audience ultimately?
Nathan Latka: I'm fairly certain, actually I'm very certain, in the next decade or two decades, I will be buying things like entrepreneur magazine, not just as subscription. I will be buying the business, the whole company, entrepreneur magazine. I will be buying radio networks that are old right now and these executives don't know what to do with them. Maybe I'm even buying a big network, like a CNBC or CBS or ABC or Fox. Because new media dude over the next decade, it's going to change like you've never seen before. These networks aren't going to be able to catch up, they are not as nimble as me. The people that own the audience, which is now the individual host, those are the ones that are going to win.
I'm interested in producing talented people like what you are doing. building them up and strategically building your podcast into my network and vice versa to grow both audiences bigger than some of these NPR shows. Because they have an own network to live off of. My master strategy is to produce amazing content. I'm going to build probably my own little network of curated content. At least this is what people are saying Nathan you should do. I'll probably do something like that.
Eric Siu: Super smart. I can't wait to see what happens there. This is why I'm telling everyone that you better be watching Nathan Latka because he's going to do some big shit. I have an introduction to make for you afterwards. Remind me about that. One big thing. When people to subscribe to your responder, one thing I noticed was that, you've done something I've never seen anybody do. You ask people to give you a call. What's the story behind that, what does that do for you?
Nathan Latka: Nobody ever gives me a damn call. Pisses me off. I'm like, I give you my phone number, nobody calls me. It's very weird. What it does though is it increases the reply rate by almost 35%. The first email you get when you go to nathatlatka.com and opt in, you'll get an email with a subject on it that says, hi, which gets about 75.5% open rate and there is no links to click in it. it just says, "Hi, I have five or ten minutes, shoot me quick me reply, how did you find me?" Then it says, PS: if we've
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already met, here is my phone number, feel free to call me. Like I'm talking to a friend, that's the key. I get almost a 39% reply rate.
Reply rate, not open rate or click rate, reply, people actually typing out words and replying to me. That's incredible. People would kill for that kind of open or click through, right Eric?
Eric Siu: Right, standard open rates. We are looking at 20-30%, if you are saying the reply rate, actually getting people to take an action to say something back to you is 74%.
Nathan Latka: 39%
Eric Siu: 39%, which is still incredibly high.
Nathan Latka: Open rates 74%, reply rates 39%. What that does, it allows me to see where people are finding me. Then I can double down on those channels. People will say, "I saw your last book of the day on Facebook." Great, I should do more book of the day. It's like my way of putting my finger in the water and just testing the wind a little bit. The second email that goes down on day two, it says in a subject line, "Do we know each other?" Again, very conversational. It gets a 63% rate. This one has a link it though. It's kind of abrasive. It says, "Listen Eric, dude, you are in my house right now. I have no idea who you are. You need to either click here and introduce yourself or get the heck off my list and click on unsubscribe."
Obviously, very few unsubscribe, less than 2%. The majority click the link which takes them to a six questions survey with questions like, "Eric, what's your biggest marketing challenge right now? What niche are you in, what's your ideal customer, how much revenue are you doing annually?" Then they click submit and I then use those survey functions as merge tags. To customize future email marketing which allows me to keep open rates and conversation and click through rates way hire than industry average.
Eric Siu: The crazy thing about this is you are able to segment, all these people, you are able to figure out what their needs are exactly. You are able to just remember what you should be doing next in terms of business and you are able to build relationships with these people. I think it's super smart.
Nathan Latka: That's exactly right.
Eric Siu: I think what everyone should do here. The actual thing if you want to hit numbers like this is you go to nathanlatka.com, we'll drop this at the show notes, you subscribe to his email and newsletter. Try to see what elements you can copy, don't copy a word for word obviously but here is the thing. If you are doing any type of marketing, you are copying people all the time, there is no shame in it.
Nathan Latka: By the way, artists who think they have to come up with something original and new every time, usually just fail dramatically. It's way better to look at what's
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already working and copy the hell out of it and then do it better. Understand what they are doing, copy it, and then add your own spin and that'll usually make you do it even better. That's how, my next business, I'll probably be doing exactly that.
I will copy how CBS built itself back in the day, I want to see what they did, I'll do it now, but then I'll then apply new nuances to it and I'll beat them. Reverse engineer the hell on me. by the way Eric, I don't like that because I have to pay. Everyone that opts in, I have to pay a little bit to active campaign, a little for it, that more kind of example. I actually hate that. Listen, go steal from me, reverse the engineer the hell out of it.
Eric Siu: That's what I love. Sorry, everybody we are going to make Nathan pay a little more money here but it's going to be great across the board, because it's worth it.
Nathan Latka: It's worth peanuts.
Eric Siu: One random question I want to ask you, we have a few more questions here before we hop off, random question, what do you eat every day?
Nathan Latka: Every morning I have four eggs, four legs of asparagus and an avocado for a breakfast, along with I think lemon water. I then eat snacks like crisp bars and almonds in between breakfast and lunch. For lunch I have about five scoops of Greek yoghurt mixed with chia seed, mixed with strawberries, mixed with kachi. I eat a big ball of that. Then I snack again between lunch and dinner. Then for dinner I always have one chicken breast, about a half cup of brown rice, another avocado and spinach. That's what I eat every day over and over and over every time.
Eric Siu: Where did you find this diet, did you hire a nutritionist, what did you do to optimize this?
Nathan Latka: No, there was no, I didn't hire, I didn't study a course, I didn't study any of these instrumental council, these big buff dudes on it, that was the easiest thing that I could produce for myself consistently no matter what? Here is the thing, the reason people stop diets is because they can't stick to the habit. They travel and they go, "Where am I going to find this weird ingredient when I'm traveling?" Then you break the habit and you lose. That menu I just gave you, you can find all those things in any seven, eleven hour supermarkets very easily. It's very easy to stick to and the prep time is very low. Nutritionally it does a few things.
The lemon water in the morning is strategic. It balances your PH, and gives you a bit of a boost, and it's better than coffee. I have protein, I have spinach, I have something green in the morning. I like to eat things that are alive like greens and things like that. There is nothing necessarily strategic there but that's what works for me.
Eric Siu: Guys, this podcast itself is worth a couple of thousand dollars already, I'm telling you right now. Nathan is going to not have time to do this in the future for sure. I
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just want to let everybody know that this is probably one of the most valuable ones I've ever done.
Nathan Latka: Eric, I'm curious, why do you say that man? Just because we are going a million miles an hour?
Eric Siu: Because I've been able to distill all the little tactics, all the strategies that you do to help people be successful. All they really need to do right now is take action and be consistent with it. You are literally just repeating these habits over and over. Biographies, strategy book, biography, strategy book. It's very specific too. Same thing with the diet, you do the same thing over and over. Then you leave yourself little room to fuck up. I think it's really important for people to understand that. It's having good habits and building on them consistently. Nathan, this has been great. What's the best way for people to find you online?
Nathan Latka: The best way guys is actually to go listen to my podcast. I give my personal phone number out there, you can just search The Top entrepreneurs, or you can go directly to nathanlatka.com/thetopitunes. It's my face with a big orange kind of look on the background. You can enjoy that. Additionally, Eric, one of the things that I really, I despise about most successful people is ... Eric you probably have some of these people come on your show in the past. When you ask them to tell their story, they just lie. They are not doing it on purpose. They just forget how tough it was. They make it sound rosy and nice. They go from, I created to I sold it, without saying anything in between, which makes it useless for the audience. One of the things that I've done is I've actually documented all of my tax returns as I'm going sale of a business to go through a business.
If your audience wants my 2012 tax returns, obviously my social security number is blacked out. This will allow you to see how I'm actually making money as a twenty four year old to grow my wealth. You can go in there, just text Nathan, to 33444, and I'll get you that instantly. That's Nathan to 33444.
Eric Siu: I love it. We'll drop that in the show notes for sure. I think we are going to a ton of opt ins here. I think this has been great. Nathan, thanks again for doing this.
Nathan Latka: Eric, thanks for having me on brother.
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