Ep 161 Tom Hunt, a location independent founder of online marketplace Virtual Valley. Listen as Nathan and Tom talk about the latter’s experience selling men’s leggings and hiring offshore employees.

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Bio

Tom Hunt is a TEDx Speaker, Dragons Den “Failure” and Location Independent Founder of Online Marketplace: Virtual Valley (Launching Jan 2016) That Connects Entrepreneurs & Rockstar Virtual Assistants (www.blog.virtualvalley.io).

3 Key Points:

• Publicity from shows such as Dragon’s Den usually won’t benefit a company directly but can raise publicity for an area of products.
• Getting press is much easier for a business if it jumps on top of an existing trend.
• According to Tom, often times it’s more worthwhile to focus on the journey than the result.

Time Stamped Show Notes:

• 01:00 – Nathan’s introduction to today’s show
• 01:27 – Tom joins the show
• 01:51 – Tom tells the story of how he started selling men’s leggings.
• 03:18 – As a part time project, Tom and his partners started selling them online and was able to sell 150 pairs in the first year.
• 03:50 – Eventually, Tom’s efforts were chronicled in an online article that was shared about 66K times.
• 04:46 – Tom talks about how he got onto Dragon’s Den, UK’s equivalent of the show Shark Tank.
• 06:10 – Tom’s revenue since selling men’s leggings was roughly 160K.
• 07:01 – Tom’s online store saw a big spike in traffic the day after Dragon’s Den. 100 -> 1000.
• 07:28 – The store got more traffic from the daily mail article because there was a direct link to the site. 
• 08:00 – The online store is still operational and doesn’t spend any money on paid acquisition. All the advertising is done through social media outlets.
• 10:10 – Virtual Valley is a service in which people looking to build a team can acquire its members virtually.
• 11:30 – There’s a 20% service charge for using the platform – Virtual Valley provides advantages such as employer/employee insurance and an online time tracking program that it believes is covered by the fee.
• 13:14 – Virtual Valley’s services are based in the Philippines.
• 15:04 – The company’s goal is to have 7K monthly recurring revenue by February. By the end of 2016, 15K per month in recurring revenue.
• 15:53 – Getting press is much easier if a business can jump on an existing trend.
• 17:51 – Famous Five

Resources Mentioned:

• Growth Geeks – The way Nathan hires growth hackers on a per project basis for things like info graphics, blog posts, and other growth projects
• Daily Mail – Article about men’s leggings
• @tomhuntio – Tom’s twitter
• Tom Hunt – Tom’s personal website
• Meggings – Tom’s e-commerce business
• Virtual Valley – Tom’s online marketplace
• The Icarus Deception – Book Tom stands by
• Sniply – Tom’s favorite online tool

Famous 5

• Favorite Book?— The Icarus Deception – by Seth Godin
• What CEO do you follow?— Nathan Latka

• What is your favorite online tool?— sniply

• Do you get 8 hours of sleep?— Yes
• If you could let your 20 year old self know one thing, what would it be?—Focus more on the journey instead of the result.

Credits

Show Notes provided by Mallard Creatives

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