0 (2s):
Who's ready for Rock today? Fire Nation, JLD here and welcome to Entrepreneurs on Fire, brought to you by the HubSpot Podcast Network. With great shows like Content is Profit. Today we'll be breaking down how to become the king or queen of digital real estate. To drop these value bombs, I have brought Nick Wood into EOFire Studios. Nick is the king of digital real estate. He is the founder and CEO of Digital Landlords, a thriving online course community that teaches hundreds of students worldwide how to create an online side hustle that is resulting in life-changing passive income for many of us members with many of his students earning from 10 K up to 45 k per month through his curriculum.

0 (45s):
Today, Fire Nation, we'll talk about what digital real estate is, how you can turn it into passive income, the three key points for a successful lead generation within this, the difference between a good salesperson and a bad salesperson and so much more. And a big thank you for sponsoring today's episode goes to Nick and our sponsors. Business Made Simple hosted by Donald Miller is brought to you by the HubSpot Podcast Network. The audio destination for business professionals, business made simple takes the mystery out of growing your business with episodes like how to get out of your day-to-day operations without crashing your business. Listen to Business Made Simple wherever you get your podcasts. Is this your year?

0 (1m 25s):
Visit Thrivetimeshow.com to see testimonials of how Clay Clark's Business Coaching has helped over 2000 entrepreneurs to dramatically increase profitability. It's month to month and less money than an average minimum wage employee. Schedule your free consultation today at thrivetimeshow.com. Nick say What's up to Fire Nation and share something that you believe about becoming successful that most people disagree with.

1 (1m 55s):
What is going on Fire Nation, I am excited to be here and something that I would, I would mention as something that I believe you need to to do to be successful is always leave meat on the bone. Don't always be looking for the best deal, necessarily. Look at it from a long term perspective because if you're gonna be in business, you're going to be coming back and again and again and again.

0 (2m 21s):
So, Fire Nation, as I mentioned during the introduction, we're talking about how to become the king or if you're a female, the queen of digital real estate. And I wanna start, Nick, by just breaking it down, what the heck is digital real estates and how could a person turn that into passive income?

1 (2m 41s):
So digital real estate is just like physical real estate in that we build properties, we build assets, or we buy them or we create them. We then rent them out to tenants. The only difference is it's online and our tenants are our business owners. So we build very simple websites that generate phone calls and then we take those phone calls and rent them out to local business owners making passive income for our assets. That's it. Simple,

0 (3m 10s):
Very simple. Fire Nation. And we're gonna keep diving into this whole topic cuz there is so much to uncover within this opportunity. So what is rank and rent digital real estate and why is it the best business model on the internet?

1 (3m 27s):
The term digital real estate recently has been kind of used loosely in a lot of different industries and a lot of different things with the metaverse, with Bitcoin, with all kinds of different things. When we say rank and rent, digital real estate, we are literally building websites, ranking them and then renting them out. That's the rank and rent and it's the best business model, not because I say it, but find me another business model that checks all the boxes that's scalable the way this is, that has assets, that's the big one. It has hard assets that you own, you control, you could do it from anywhere. It's recurring, it's recession resistant, it just checks all the boxes that many of these other business models are missing, one or two of these key pieces.

1 (4m 11s):
And that is why I truly believe it's the best business model on the internet.

0 (4m 14s):
And you are able to move to a pretty interesting location. I, I won't, I won't personally out you, but I mean, I will say Fire Nation, it's, it's very unique. I actually don't know a single other person living there because you're able to run your life, run your business, and have your family along with you anywhere in the world, which is something that I love. I'm actually about to take a one month river cruise throughout the entire continent of Europe. And as I'm sitting on my balcony watching the coolest and most awesome cities of Europe, pass me by, I'll have my laptop on my lap and I'll be doing this and doing that when it comes to business and when it comes to work, making deals, chatting with people.

0 (4m 55s):
And it's just so amazing that we can do this from anywhere in the world. It's really exciting. But let's kind of dive deeper into this because I am kind of really curious about, you know, this being the best business model on the internet. That's a bold statement, Nick. I need you to back that up with a little more fire.

1 (5m 12s):
Amazing. Well, first of all, I, you can out me, I live in West Africa. I live in Freetown, Sierra, come find me, man. It's gonna be a long ways. You gotta get a lot of shots. You gotta, you gotta fly a long ways. So come find me. And I agree with you, John. It's 2023. I, I can't imagine being tied to one location. I spend at least a a third of my time traveling before we made this move. I can't imagine being stuck to one place. So I'm right there with you. And if you're listening to this and you don't have location freedom, it is far, it is the greatest freedom even past the money part of the freedom equation. But yeah, let me back this up a little bit. Yeah, any business model out there, let's talk about some popular ones.

1 (5m 54s):
We have drop shipping, drop shipping's. Great. A lot of people do it. You do not own assets, right? You do not have a a hard asset when, when, when, when all is said and done. You are left with what are you left with, right? And I, and I'm not, I'm not just going at drop shipping, any of the models out there affiliate, right? You are at the mercy of the people that you are promoting their products to. Every single one of them has a chink in the armor. And I dare you to find a chink in this one. That's, I mean, that's really what it comes down to. When I was transitioning, I used to be a door-to-door salesman and I knew that I needed to get into something that was online that I owned and that was recurring.

1 (6m 35s):
And I started, I made a list. I said, well, I need this, I need this, I need this, I need this. Scalability, assets, recurring, low barrier to entry, that's a key, not a ton of cost upfront. And this was the only one. After looking at all the different models, looking at the FBAs, looking at everything that checked every single box. And so the way to, to way to back it up is just find me another one and I'm open about it. You find me one that beats this. I'll jump ship tomorrow. I, I, I've searched, I've looked and I'm open. Shoot me a message or an email and I will gladly take a look. But I just, nothing comparison. I've, I've seen students of mine and people in the industry come, they go with the shiny object syndrome and then they come right on back because they realize how good this is.

0 (7m 21s):
Let's talk about successful lead generation because that's so gosh darn difficult. So what are the three key points for successful lead generation?

1 (7m 33s):
Number one, picking the right niche. Number two, picking the right city. And number three, picking the right business owner. And if you mess any one of those up, you are going to have a lot of, of extra stress, a lot of extra work. And it's, it, it really won't work long term. And so maybe I could offer really quick, so a couple of tips on picking the right niche is no matter what business you're in, but especially in, in the lead generation methods that I use, which is ranking websites and selling those leads, you have to go into niches where it's, it's high ticket enough that you can make money and they can make money. You have to go into niches that it is phone driven things where people come to your house to get an estimate.

1 (8m 15s):
Those are the two big things. And they also have to have enough volume. If there's not enough volume in that in specific cities, there's no leads to generate. So that's the tips I'd give you on picking the right niche. You also need to pick the right city. You go into a city that's too competitive, you're never gonna rank your website. You go into a city that's not competitive, but doesn't have enough volume, you're not gonna get any leads. And if you don't pick the right business owner, I don't care how many leads you send them, I don't care how good and how much you over-deliver, business owners and customers will cancel if they do not make money from what you are giving them if you are working with business owners. And, and that's it. So niche city and business owners, those are, those are the, those are the keys, period.

0 (8m 55s):
Okay, I like those keys. Now let's give a specific example, filling in those blanks, either maybe from you, something that you've done, one of your customers, one of your clients. What does that look like?

1 (9m 5s):
Let me give you a good example. A good example is a a, a property that I own, an asset that I own in Bentonville, Arkansas. It's a, not a huge city, it's with the headquarters of Walmart. So it's growing. It's less than a hundred thousand people. So the city is correct. There's not a ton of competition there, but there's enough volume. So the city's correct, right? The the service, the niche is concrete, concrete checks the boxes, it's semi high ticket ten two thousand to $10,000 in and above. And it's also phone driven. You don't go to con concrete, people don't have wear showrooms. You called them and said, come give me an estimate. So the niche checks the box, the city checks the box.

1 (9m 46s):
And I found a great business owner many years ago, three, four years ago, that is hungry to grow. He knows how to close deals. And I have been collecting from him $250 per week. That's a thousand dollars plus per month every single month since 2000, mid 2000, early 2020, early 2020. So we're going on, I dunno how many years and there's been no break in it. We talk, I haven't talked to him personally in eight, nine months. So that's a good example. A bad example would be I, I I thought that there was a niche called basement waterproofing that would be a home run. It's competitive every, it's, it's a good niche. It's high ticket, but it's competitive.

1 (10m 26s):
And I, I chose the wrong city. And I'll give you an example of the wrong city that I chose. I chose to go into Atlanta, Georgia, a really big city competitive niche. It's too high ticket because there's, it attracts big companies with big budgets. Atlanta is too big of a city, so it also attracts more competition. And that website, it costs me an arm and a leg to try to rank it to, to which at what point. At some point I decided it wasn't worth the squeeze and I pulled out of the project and it wasn't worth it. So you have to get those things right and it's the difference between success and failure in this business model

0 (10m 57s):
Fire Nation. Two great examples from a success side and a failure side, we're gonna talk about good people. We're gonna talk about bad sales people. We're gonna talk about being a digital landlord. When we get back from thanking our sponsors. I remember back in 2013 when Entrepreneurs on Fire was scaling fast. And in those early days of our business, we sometimes found ourselves struggling to keep up because we couldn't find software solutions that were easy to use and that would grow with us wasting time, worrying about software that's complicated, a pain to use and that doesn't do what you need it to do is not fun or productive. So what do we wish we knew back then that we know now that a powerful all-in-one CRM platform that will accelerate your business growth is a HubSpot CRM.

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0 (13m 53s):
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1 (14m 25s):
Good salespeople? Eliminate objections. Bad salespeople wait for objections to come to them and try to overcome them. You can overcome an objection preemptively, and I call it eliminating objection. I already know the customer's gonna talk about price. I already, I already know that there's, the objections are always the same no matter what you're selling. If I know your objections are gonna be price, trust, gotta talk to my spouse, partner, et cetera, et cetera, I know the list. If I, why don't I just overcome them before they, they get brought up. And for those of us that have kids or maybe have nieces or nephews or whatever, it's always easier when you sit down at dinner and say, Hey, now you gotta eat your broccoli before I give you the dessert.

1 (15m 5s):
But if you wait until that fight comes to you, you may or may not win it. So the thing that I've seen is when you look at it and say, I am gonna play offense, I'm gonna attack and eliminate objections upfront instead of waiting until they object and then try to overcome it night and day differently.

0 (15m 21s):
Fire Nation night in day, be preemptive. I love that. Now I wanna get an example of both sides of this equation. Give us an example of a good salesperson. Like we get what you just said, but now again, let's kind of explain an actual situation where a good salesperson would do something, maybe a little role play. And then I wanna do the exact same thing for a bad salesperson.

1 (15m 44s):
Let's say that the objection, let's give an an objection of gotta talk to my business partner. Okay? Or my spouse, either one. So a good example, do you wanna do an actual role play or you want me to? Sure.

0 (15m 56s):
No, let's do it.

1 (15m 57s):
You wanna get the good or bad first?

0 (15m 58s):
Let's do the good. Oh, actually no, no, no. I take that back. Let's do the bad first because then that won't kind of reveal the good yet.

1 (16m 5s):
Okay, so the bat I, I'll kind of have to explain it, but essentially if I, if I were gonna close a deal, I always use an assumption close. So I would say something like, okay, John, like I told you, I'm gonna get you all these tree service leads in this, this city Anaheim. You're gonna get all of them exclusively. It's $2,000 per month. And all I gotta do is grab a card from you. Are you an Amex or a Visa, right? I go for the close, at which point you would come and you can go ahead and give me the, the objection. That

0 (16m 35s):
Sounds interesting, but I've got to talk to my wifey,

1 (16m 41s):
Of course. Right? And so I, I can't even, like at this point it's, this is a very difficult one to overcome because I let it come to me. In fact, there's strategies that you can use. I use a method called the Phil Felt found and I tie them down to make sure that that's the only objection. And we, I mean that could, we could go an hour on just that alone, but, ooh, that it's, it's very difficult to overcome that objection because you've let it come to you. What are you gonna say?

0 (17m 3s):
No, you can't talk to your wife.

1 (17m 5s):
Yeah, yeah, yeah, exactly. So here's how you do it correctly, right? Is let's say that we're on the phone. What I like to do is, before my call, I do a Zoom call or a Zoom close. I would send you a video and I would show my screen, I would explain a few things, right? Kind of walking you through what our meeting's gonna look like. Tell you that it's no big deal, no pressure. And I would say something like this in my video to you. So John, like I said, four o'clock tomorrow. And just as a reminder, as we talked about, if you could make sure to have your wife since she is part of the business on the call, that'd be awesome. Because what I don't want to happen is for her to not be there. And then there's a situation where you we're playing telephone and all she's gonna hear is the price.

1 (17m 47s):
And quite frankly, I, I'm looking for one business owner here in Anaheim, not, and, and if it's you, great. If it's not, I'm gonna move on. But time is of the essence. So if she could be on, that'd be amazing. If she can't, let's reschedule. Sound good? Okay, thanks John. That, I mean, that's all you gotta do. And doing that lets, you know, let's, it, it, it completely eliminates that entire 20, 30 minutes or lost deal period. And, and another thing you could go a step further and, and let them know, Hey, I expect a decision at the end of the call. And you don't have to say it just like that, but in a very, in a subtle way, you can let them know you're expecting a decision because you have other options. Fire

0 (18m 23s):
Nation, I love that concept of what a good salesperson would do and what a bad salesperson would do. And of course, which side of the fence that you wanna be on all about being preemptive. Now I wanna end with a bang and really get deep and talk about what it means to be a digital landlord. Like let's make sure Fire Nation leaves our conversation today. Having no doubt what this means, having no problem picturing themselves as the king or queen of the digital landlord space.

1 (18m 54s):
So if I asked you, John, what does it mean? What is a landlord, right? If I asked you that, what would you say?

0 (18m 59s):
I'd say somebody that owns a property that has tenants.

1 (19m 3s):
So it's the same thing. You're a digital landlord, you are somebody that is online creating assets that you own, and you have tenants that pay you passively. The name of the game is passive income, right? And it's this elusive, sexy thing that we always talk about, but how do we get it? And everyone, you know, we've all read the Rich Dad port ads, we've all done this, we all know that real estate is a great vehicle, but there's that catch of, well, I need cash to buy real estate. And then I know there's the conversation of, well, you can get creative and you can do this and that and wholesaling, and I get that. But what if I could show you a way where you could go and do the exact same thing, make even higher returns, but without having to bring 20,000, 50,000, a hundred thousand dollars down or to the table and you could have cash on cash returns that were literally infinite because you're using other people's money to scale.

1 (19m 53s):
You tell me I was crazy and I would probably not disagree with you, and that's how I felt too until I got into this. But that's it. You are doing what you would do in the real world, on the digital world. You are building assets, you're building these online properties that produce leads that you own, you control, and you are a landlord over them and your tenants, aka the business owners that pay you every month to rent them out. And you collect passive income. And of course, nothing is a hundred percent passive. I will call it semi passive. There is some upkeep, there is some maintenance. If it weren't, it would probably be a scam. But it is a fantastic business model that allows you to do exactly what you would do with real estate online.

0 (20m 33s):
Nick, what is the one key takeaway from everything we talked about here today? Digital landlord, successful lead generation, good sales people, bad sales people. Talk to us about the one thing you wanna make sure that we get during our entire chat today.

1 (20m 50s):
I think going back, this is maybe an extension of something we talked about, but when you mentioned, you know, being able to go on however, a month long River Crew, river Trip, river Cruise, yeah. And I, and I'm sitting here in West Africa and I, I guess what I would say is the, the biggest thing that you need to do is sit down and figure out what, be very clear and very transparent with yourself about what you actually want and what you want your life to look like in five to 10 years. Because there's a lot of ways to make a million dollars. There's a lot of ways to make a million dollars a month. But if you're not careful about how you want that to look, what do you want your lifestyle to be? Do you wanna be location freedom from location?

1 (21m 33s):
Do you want to be able to work a certain amount of hours? Do you want to be able to make, like, you have to be clear on that. And most people, what I find is they say, Hey, I wanna make X amount of money. Well, that's pretty broad and what you're gonna find is that if you're not very, very clear on it, then you're gonna end up and, and wish that you had these different things. So all I would say is thank goodness I didn't have the foresight to, to, to even think that far ahead. But I got into something that allowed me to have all these things like location freedom. And so just do that and, and then match up whatever business model, maybe it's this one, maybe it's something else, but match up the business model that fits and allows you to achieve that vision you have of your life five to 10 years down the road, rather than just saying, Hey, I wanna make X amount of money and leaving it open to chance.

1 (22m 19s):
The more specific, the better.

0 (22m 20s):
Nick, how can Fire Nation connect with you? Give us the best ways to do that. Give us a call to action of any kind and then we'll say goodbye.

1 (22m 29s):
Amazing. If you would like to just get a taste of, you know, hey, this sounds really interesting. I, I'm, I would, I'm wondering if this is something that I could actually see myself doing. I have a, well, first of all, I have a YouTube channel type in my name, Nick Wood and Digital Real Estate on YouTube, you'll find me. But I have a free training in which that will also lead there. It's at the, the domain and the website is rent, RENT, simple, SIMPLE, sites, SITES, rentsimplesites.com. It's a free training, it'll walk you through if you wanna get started today, what are the steps? And that'll give you enough of a taste to say, hey, this is something that's interesting.

1 (23m 9s):
And then you can start going down the rabbit hole. And it is quite an exciting one, I must tell you. But be careful if you click on that link because you may, you may end. No, I'm just kidding you. You know where that goes.

0 (23m 21s):
Fire Nation, you are the average of the five people you spend the most time with. You've been hanging out with nubs and JLD today. So keep up that heat. For links to everything that we talked about, visit eofire.com. Type nick in the search bar, the sh page will pop right up. And Nick, one more time, what is that url?

1 (23m 40s):
Rentsimplesites.com. Rentsimplesites.com.

0 (23m 46s):
Nick, thank you for sharing your truth, your knowledge, your value with Fire Nation today. For that we salute you and we will catch you on the flip side. Thank

1 (23m 55s):
You. Appreciate it.

0 (23m 56s):
Hey, Fire Nation, a huge thank you to Nick and our sponsors for sponsoring today's episode. And what about accomplishing your number one goal in a hundred days? It's called the Freedom Journal. The Freedom Journal will help you accomplish whatever goal that you have within a hundred days, and we're talking step by step. So just visit the freedom journal.com. I'll catch you there. Or on the flip side, business Made Simple hosted by Donald Miller is brought to you by the HubSpot Podcast Network. The audio destination for business professionals, business made simple takes the mystery out of growing your business with episodes like how to get out of your day-to-day operations without crashing your business. Listen to Business Made simple wherever you get your podcasts.

0 (24m 39s):
Is this your year? Visit Thrivetimeshow.com to see testimonials of how Clay Clark's business Coaching has helped over 2000 entrepreneurs to dramatically increase profitability. It's month to month and less money than an average minimum wage employee. Schedule your free consultation today at thrivetimeshow.com.