🌐 Justin's Blog

The personal blog of Justin Ferriman

LearnDash is now part of the Liquid Web family of brands, I learned a ton along this journey.

Selling my business was one of the most stressful and challenging things that I have ever done as an entrepreneur. In the end, it took just about a year from start to finish (October 2020 – September 2021).

If you’re interested, you can check out the official announcement on the LearnDash blog, or check out Liquid Web’s press release.

LearnDash started making sales in early 2013. It was meant to be a lifestyle business for me, initially. But slowly over time the company grew into something more than that. With employees and customers from all over the world, LearnDash carved out a unique space in both the WordPress and e-learning industries.

When the pandemic arrived in 2020, LearnDash was very well poised to be found as people scrambled to create online courses – be it for extra income or to augment their entire business model. It was an insane time in more ways than one. The already healthy company grew even more in team size and in revenue. It was clear that the business was bigger than me, and far from the lifestyle business I created.

It didn’t take too long before I started receiving offers for LearnDash from venture capitalists. Truth is, this has been the case for the past few years, but during the pandemic that interest skyrocketed. I would get contacted literally every other day from investment firms looking to get a piece of the e-learning pie.

Now, I have always been one to pursue happiness, and this was the main driver for selling LearnDash. The truth was that I no longer had the same inspiration that I did for the industry, and this meant that I was getting in the way of the company’s true potential. LearnDash is bigger, and more important, than me. It deserved more so that it could reach that next phase of its potential.

The continued growth trajectory for LearnDash is huge, especially since it straddles both the WordPress and e-learning industries so well (which is unlike any other WordPress product, ever). Both the WordPress and e-learning markets will continue to grow in importance, and LearnDash will continue to be a leader in that space. Even more so with the backing and leadership of Liquid Web.

I hired investment bankers to market and sell LearnDash.

Given LearnDash’s unique position across two industries, I felt like professional representation was needed for the sale. In October 2020, I was introduced to the investment banking firm, Angle Advisors. I can say with confidence that had I not done this, LearnDash would have never found its new home with Liquid Web.

These folks are incredibly smart. Much smarter than me. We spent the remainder of 2020 preparing the financials and creating a management presentation. In January of this year, Angle Advisors reached out to hundreds of potential buyers. A large percentage of these companies were interested in learning more. They indicated this by presenting an offer for the company (usually a range). Those that made respectable offers were invited to a management presentation.

Let me tell you something about management presentations: they are stressful, and they are long. Each one that I gave was about two to three hours long, and in it, I discussed everything about the business. Its history, its present status, its position across the markets, the growth opportunities, and so on. It’s an informative presentation and a sales presentation all in one.

When all the presentations were done, the stopwatch began. The companies had to decide if they wanted to make a formal offer. Only three companies decided to drop out of the process. The rest submitted offers.

Moving into the due diligence phase.

With Angle Advisors’ guidance, an offer was accepted and the “one-on-one” relationship with the potential buyer could begin. I know that I said the management presentation is stressful, but honestly the due diligence phase is the most stressful part of it all. Just because you enter into this phase doesn’t mean that you will for sure close the deal. Either party can decide to move on for a variety of reasons.

In this phase, you set an agreed upon closing date for the deal. Leading up to that date, you have to provide the buying company with any piece of information that they request. Information on financials, market, product, legal, and so on — reaching back three to four years (sometimes longer). There are meetings, many meetings. The days are long and tiring for everyone involved.

In the latter stages of this phase is when the lawyers really start to get involved. Luckily for me, I didn’t have to worry about that too much since I was working with Angle Advisors (and they brought in Varnum Law to provide the counsel).

Once all the requested information has been shared, all questions answered, and all contractual agreements made from a legal standpoint, the closing can occur, and the buyer becomes the new owner. You finally can “hand over the keys to the house”.

LearnDash is in the perfect home with Liquid Web, and holy crap are they ready to take it to the next level! I’m especially thrilled that Chris will be taking an active role as General Manager. He is incredibly smart, and has deep roots in the online education space. He gets it.

What is next after you sell a business?

This is probably the most common question people have for a founder after they sell a business (besides curiosity on the sales price, which I am not sharing, sorry).

As I mentioned earlier, I live my life by prioritizing happiness. This has led LearnDash into the Liquid Web portfolio, and in the near term I am still very much part of the LearnDash team. I am in the middle of some exciting initiatives that I’ll be helping to see to the end (LearnDash 4.0 being one that I’m very eager about getting released). I will then be an active advisor to the company.

I get excited about new challenges. WordPress and e-learning have been good to me, but I’m running on fumes at this point. I’ve been involved in these two industries my entire life (e-learning since 2004 and WordPress since 2006).

I have interests outside of software and WordPress that I will have time to pursue. One in particular is starting a fitness brand with my wife, Lorena. I will be documenting this journey, so if you’re interested in hearing about the ups-and-downs of that adventure, check back here often.

I have learned from people sharing, so I plan to do the same.

I have learned a lot over the years about running (and now selling) a business. Things like competing, brand positioning, driving sales, and more. I plan to share these lessons learned on this blog. I’ll share exactly what it takes to build a multi-million dollar WordPress business across two industries.

Think of it like a conversation between friends. I had so many questions when starting out, and while there is no substitute for direct experience, a little guidance from someone who has been there before can be reassuring.

I won’t be selling courses or products, just writing. If you would like these insider tips, then just sign-up below. By doing so, you can also email me at anytime with your questions. All you have to do is click “reply” on a new post, and it’ll land in my inbox.

#WordPress #entrepreneurship

As of writing this, I have been studying Spanish for a year and a half. I’m so close to fluency, all I need is one more push!

This journey has been simultaneously one of the most challenging and rewarding activities I have done in my life.

My wife will tell you that I am too hard on myself when it comes to my Spanish. That may be true. I want so bad to be more comfortable with the language. The reality is that I have good days and I have bad days.

Some days I am crushing it! I understand what people are saying to me (for the most part) and I am able to respond in a way that makes sense and that they understand. This made visiting family in Mexico all that more enjoyable. We spoke Spanish, not English – and I loved it!

Other days, I’m terrible. I don’t understand what people are saying to me. I get nervous and “close up”. My mind gets tired, and I can’t keep up with the topic of the conversation. Someone makes a joke and I completely miss it. These days are hard. It makes me feel foolish, and I feel like giving up.

I don’t have overly ambitious goals with Spanish.

I know that many people dream of being completely proficient in another language. And I admit, it would be cool to be like my wife, who has command over Spanish and English.

As great as that would be, my ambitions are far less than that. Ultimately, I want my level to be a very comfortable CEFR B2 (for speaking only).

The CEFR B2 level is considered the first level of fluency in any language. If you are at this level, then you have “upper intermediate” proficiency. That sounds just perfect for me. I don’t care about sounding like a native or advanced sentence structures.

In reality, I don’t even care too much about writing perfectly, either. The only time I write in Spanish is when I am texting with family, and my phone helps out if I get stuck. Ultimately, my goal is to spontaneously interact without too much strain for me or the other person. To understand what people are saying to me 95% of the time.

To get to that level, I will need to work harder than ever.

I’m at a point where I’m pretty good in Spanish. Strangers compliment me, I usually understand the theme of a conversation, and I can crack a joke here or there.

The thing is, I have been in this place for a good majority of this year. My gains in 2020 were far greater, but I also worked harder. This year, I have given myself permission to be lazy. I’ve gotten comfortable with my current level.

To get to a solid B2 though, I need to change my habits. I need to actively study again.

Here is what I am doing:

  • Starting 1-on-1 online languages classes again with my teacher (3x per week for 1hr).
  • ANKI flash cards for B2 level grammar and vocabulary.
  • Reading Spanish books.
  • Watching movies & shows in Spanish (with Spanish subtitles).
  • Making a point to speak to Lorena more in Spanish.

This was the formula I used last year, and it worked really well. I’ll need to do this for at least four to six months consistently to see the results I desire.

Honestly, I know that I will never really be done with learning Spanish. The more I learn, the more I realize I don’t know. I will always be aware of where I can improve.

#personal

Lorena and I land back in Austin
 But will we stay?

For two months, Lorena and I have been away from home visiting family. First we were in Mexico and then for a short period in Michigan.

I have thoroughly enjoyed my time on the road, but I’m excited to be home in Austin and to get back into a somewhat predictable routine.

Speaking of home, this trip has made me and Lorena think hard about where it is we want to live. There are good things about Austin, but we cannot stand the heat. Almost four months straight of 100+ degree temperatures can really start to take a mental toll.

Granted, we have not even been in the city for a year, so there is still an opportunity to experience some weather without the intense heat. There are certainly aspects about the area that are nice. The property values, no state tax, cost of living, space, sufficient airport, family in Dallas, and population diversity are all positives.

If the weather wasn’t so intense from May through September, we probably wouldn’t second guess Austin. It has a lot going for it.

In the coming months, we will be looking at potential options and taking a few trips. If we decide to move, then that will likely come in a year or so. Or, we will make Austin our home – time will tell!

#personal

Affiliate programs can be a huge hassle, but the extra money is worth it in the end.

If you sell a product online, then you probably have toyed with the idea of having an affiliate program. That is, giving people a commission if they refer a new customer to you.

Affiliate programs have been around for a very long time. I made my first money online back in college when I joined an affiliate program (regrettable, of a pyramid scheme
 don’t judge). The concept is simple enough: refer people to a product that you like, and you earn a little money if that person buys the product. It’s win-win. Well, at least that’s the idea.

Is having an affiliate program worth the hassle? Yes, and here’s why.

The reality for consumers is that if you Google the product, you’re bound to find an endless number of websites with biased “reviews”. The authors are just in it for the money. And in most cases, they don’t even have experience with the product that they recommend.

For product creators, parting ways with a percentage of revenue can be a tough sell. Why give up money if you don’t have to? Also, is it worth the time to deal with the fraudulent purchases and scammy affiliates that sign-up?

I have been on both sides of this debate. At one point I had an affiliate program, but then I got rid of it because people were abusing it. They were purchasing my product through their affiliate link, then arguing with me when I nullified their commission. But later down the line, I implemented it again, and it resulted in tens of thousands of dollars in extra income every month.

If you sell a product (or are thinking about selling a product), then you probably have some questions:

  • Should you have an affiliate program?
  • What are the benefits?
  • How much should you offer?
  • Where should you promote it?
  • What are the risks?
  • What software should you use?

I want you to feel confident in your decision, so let's tackle each of these. I’ll answer them to the best of my ability. Remember, this is based 100% on my experience. Spoiler alert: the affiliate program that I implemented for LearnDash is a net-positive (in more ways than just cash).

Should you have an affiliate program?

Yes.

Don't question this.

I've done a ton of research. I've tested having one versus not having one. It was better for business to have one.

When you don’t have one, you’ll get people asking you if you do, anyway. It’s better to say “yes”. Some people just want to tell their friend about your product, and they want a little kick-back for doing so. If you don’t have an affiliate program, they may recommend something else (and there goes your customer).

What are the benefits of having an affiliate program?

There are a few, but mainly you get customers that you perhaps wouldn't otherwise because folks will want to promote it.

But another really nice benefit is that you'll form partnerships with influencers (big and small) because you have one. I've blindly reached out to influencers before and used the affiliate program as a carrot by sharing the conversion rates and what that means from a dollar standpoint.

This strategy ultimately led to some popular websites and YouTube channels promoting the product.

What is the best commission for your affiliates?

If the product is over $100, then 35%. Only on the first purchase, not on automatic renewals (if your product has those). If the product is under $100, then you can still do 35%, but it's less enticing. Personally, I’d probably go with 50%.

I did 35% when LearnDash was priced under $100. The program wasn’t super popular. Things got interesting when the price went up.

On a related note: raise the price of your product to reflect the value that it gives someone (I will talk more about this at a later date).

Where should you promote your affiliate program?

Don't let the affiliate program deter you from your main business priorities – it can easily be a distraction. Include an “Affiliate Program” link in the footer on your website. Also include a visible link to it on your customer dashboard, and mention it in your onboarding emails. That's it. As you build an audience for your product, people will naturally ask about the program.

What are the risks of an affiliate program?

The main risk is people will become an affiliate and then purchase your product. This happens a lot and was the reason why I killed the program in the early years (I just didn't want to deal with it).

When this happens, just delete the commission and remove the affiliate as it's a violation of your terms. By the way, make sure that you have specific affiliate terms and conditions, and ensure that affiliates agree to these terms before they sign up.

The other risk is someone creating an affiliate account and using stolen credit cards to make purchases.

This sounds like a far-shot, but it happens. Unfortunately, I have had to deal with this, and it was a bit of a headache as it resulted in a boatload of credit card disputes (naturally) as people saw purchases that they did not recognize. Disputes nuke your reputation with credit card companies, and if you get a bad reputation, you can no longer accept credit cards. Yeah. It’s kind of a big deal.

In this case, I found out what was going on the early side. I refunded the remaining commissions to the stolen cards, deleted the affiliate, then contacted the payment gateway processor (Stripe) to inform them what happened. It was all resolved in the end, but it was stressful at the time.

While this scenario is far rarer than dealing with people purchasing through their personal affiliate link, it’s still a possibility to be aware of.

Which affiliate program software is best?

If you're using WooCommerce or Easy Digital Downloads for your shopping cart, then use AffiliateWP.

If not, consider using Shareasale (this will cost you more, but less managing of the risks I mentioned above). Their UI is absolutely terrible, though. It’s honestly one of the worst I have ever seen, so searching an alternative to Shareasale might be worthwhile.

If you have a shopping cart with its built-in affiliate tools (like SamCart or Thrivecart), then use that. I have the most experience with iDevAffiliate. It's not great, so I wouldn't recommend it. I had to use it because the shopping cart in the business was Zoho Subscriptions, and it was the only one that would really work for our use case.

Don’t overthink the affiliate program, just do it!

I’ll admit that I wasted a lot of time debating implementing an affiliate program, and then how I wanted it to look once it was implemented. Just put one into place and move on with your core business.

In the end, it’s better to have one than not to have one. You will need to spend a little more time managing it, but it will make you money.

#entrepreneurship

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I'm about to share you with you a cheat code for losing weight.

If you exercise a little already and want to lose a minimum of five more pounds without doing anything different in your exercise routine, then you're in luck.

Ready?

Stop drinking alcohol.

I did this a couple of years ago and without changing anything else, I ended up losing weight. Same thing with my brother. Same with my best friend.

If you stop drinking empty calories, then you're in the clear to lose weight fast, at least five pounds (but because people usually people eat like crap when they drink, they often lose more than that).

You can do it! But if you need some help - this book is my #1 recommended resource.

#health

Seven weeks later and our stay in Mexico is coming to an end.

Lorena and I came to Mexico City for the first time together. For her, it was her first time back home since the pandemic began. And for me, it was my first time ever in Mexico City!

I loved it, and cannot wait to come back!

Mexico is incredibly full of life and culture, far beyond what I ever knew. The food, the people, and the history make for a lively experience that I find hard to match in the United States.

We were able to do quite a bit during our stay, but we also didn’t pack our schedule. First, COVID is still an issue, so we wanted to be safe. But we also just wanted to spend time with family. To live like locals. Even still, we managed to get out to see some sites, such as:

  • Castillo de Chapultepec
  • Museo de AntropologĂ­a
  • San Miguel de Allende
  • TeotihuacĂĄn pyramids
  • La Roma, La Condesa, Polanco, CoyoacĂĄn, San Angel, Sante Fe, and more of Mexico City’s most popular areas

In addition, I got to work on my Spanish (and it definitely needs work).

When we return, I plan to start up my lessons again. My level as of now is around high B1. My goal is to be a strong B2, and that will take a lot more work on my part. Nonetheless, the trip was great for additional practice! My listening comprehension certainly improved, and I picked up local vocabulary.

But now the trip comes to an end, only with a slight detour. Our original plan was to go back to Austin, but I recently received word that my grandmother is gravely ill. As such, Lorena and I will be flying back to Michigan first – a sobering reminder that life waits for no one.

I look forward to returning to Mexico to discover more and to immerse myself into the culture again. As of now, that looks like the new year, but it will depend on the global situation with COVID (which has gotten worse since our time here).

#personal

Don't waste your time trying to acquire a new skill. Just amplify what is currently working.

Growing up I was always told that if you're not good at something, and you want to become good at that thing, then you should practice it.

I can't argue with that logic. Makes sense.

It wasn't until I was an early adult that someone told me not to waste time on the things I am not good at, and instead focus on amplifying the areas where I already have skill.

For whatever reason, that resonated with me.

Maybe it's because as a child, you're still developing all kinds of skill-sets, so you have to essentially practice everything.

When entering adulthood, you already have an affinity towards some disciplines, and you get more ROI by putting your energy into those areas.

Focusing on what makes you money and enhancing those skills is far more efficient.

I don't know how to write code.

As someone who has started a software company, you would think that learning how to write some code would be beneficial.

But quite the opposite.

It would be anÂ ï»żenormous waste of time. I am good at other things, and my time is best spent on those areas. Things like marketing, competing, networking, researching opportunities, and analyzing market trends.

If I spent $1,000 on a coding course, it'd be a waste of money.

But if I spent $1,000 on a marketing course, I could generate an ROI in a very short amount of time. I would turn that $1,000 into $10,000.

And then I could use some of that $10,000 to hire some developers.

See what I am getting at?

List the top three things that you are good at, and take the necessary steps to improve in those areas.

Whether you work at a company or are an entrepreneur running your own business, you are probably talented in at least three areas.

This is where your focus should be if you are interested in making more money. Zero-in your talent so that in a crowd you are known as ï»żtheÂ ï»żmostï»ż talented compared to the other talented folks.

That's how you command a higher salary. That's how you make more money for your business.

Now, if you want to learn a new skill as a hobby, then there is no harm in that at all. Always be learning. Keep challenging your mind.

But when it comes to revenue generation, stay focused on strengthening the skills where you already rise above the rest, and keep on rising.

#entrepreneurship

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WordCamps will eventually become a thing again. The clock is going to be re-set a few years.Remember when WordCamps were a thing?

It seems like so long ago when people would pack up for a long weekend to attend talks and cruise sponsorship tables.

The idea of a WordCamp now sounds pretty nice. Especially because every conference since COVID has been a virtual event. People are burnt out of those. Virtual events are flat-out boring.

But you know what? Before COVID, I remember people getting burnt out from the WordCamp experience. The same old talks, same old swag, same old travel issues, same old tiredness due to staying out too late.

When we get through the worst of the pandemic, WordCamps will feel special again.

We were at a tipping point for WordCamps before 2020. Something needed to change.

Organizers were struggling to find ways to make their event special, always trying to “one-up” the previous year. Speaker & sponsor dinners, after parties, and free stuff were all starting to lose their appeal.

This is not to imply that they were poorly organized. The folks planning these events put in a lot of their free time and energy to make them happen. Some of my close friends in WordPress were organizers. They wore themselves out in an effort to make the event enjoyable for everyone.

The problem was that the organizers were almost too good. They all leveraged the same winning formula for the event experience and flow. It worked, but it was predictable after the third year.

As a result, WordCamps started to lose their uniqueness. The presentations themselves were going too broad instead of deep.

All that said, in (what looks like) 2022, that slate will be wiped clean!

If there is ever a time to be a WordCamp organizer, it will be in 2022-2023.

People are aching to be back to normal. They want to mingle with others, chat in hallways, attend talks, and network with handshakes (okay
 elbow bumps) instead of Zoom. Sponsors will have dollars to spend as well!

The events will be a breath of fresh air! No need to try to “one-up” the previous year. Getting back to basics will be perfectly fine.

Sure, some new health and safety guidelines will be in place, but those will make the experience all that much more enjoyable.

And by 2025, we'll need to start thinking again about innovating the experience. How that looks, I don't know.

One option is to go smaller instead of going bigger. Stop trying to outdo the previous year. Get back to basics and focus on the content.

#WordPress

That time I forgot to use BCC and blasted an email to over 500 (very angry) people.

I'm going to share with you a story that no one knows.

It's embarrassing.

It has to do with a mistake that I made in the very early days of my business. I laugh about it now (because it was so stupid), and I'm sure you will too. But more importantly, I hope that you learn from my mistake! So, something that I always wanted to give customers of LearnDash was free integrations.

In other words, you buy LearnDash and get all the in-house integrations for free (no upcharge). The thing is, I wanted to avoid listing these free integrations on wordpress.org.

There are a variety of reasons, but mainly because I wanted to avoid having customer support spread out over multiple platforms. Plus, someone could nuke an add-on with a 1-star review and perspective customers may mistake that for a review of LearnDash itself.

In any event, I decided not to list them there. This meant that the add-ons did not have automatic updates.

Instead, when an update was made, I would email customers who downloaded that specific add-on (because there was no need to email all customers).

Well, one day in 2013 an update was made to the WooCommerce add-on for LearnDash. At that time, I was the one responsible for pushing out the updates when they were complete.

So, I did my usually steps of packaging up the download and notifying the individuals who downloaded this add-on. I then fired up regular email... and sent the update notice as I always did.

At the time, to about 500 people. Except I put every email in the “TO” section and not the “BCC”.

Yeah... that happened.

As you would expect, I got many replies. Some people were laughing at me, others were “letting me know” what happened, and of course others were pissed-off and wanted to know what I would do to fix this situation.

I was embarrassed, and angry at myself. Ultimately, the mess settled down. I can't recall exactly how I went about easing the tension, but I was responding to every message that was sent. In the end, it was an honest mistake by a young startup.

It ultimately was forgiven and forgotten (by everyone except me). After that incident, I linked all email to the email service provider I was using at the time (MailChimp) and eventually added auto-updates to add-ons.

I was determined to never make a mistake like that again, and I never did. If you make a mistake in your business, do what you have to do to own up to it and make sure you learn from your mistake. If you make it twice, then shame on you. Mistakes are the greatest teacher.

Oh, and get your privacy policy in order.

The above story highlights another important part of business that isn't talked about enough, and few people understand: privacy policies and terms & conditions.

When entrepreneurs first start out, they end up creating their own privacy policy and terms. This is fine for the experimental stage of a business.

However, once you start getting regular customers, then it's time to “level up” your legal game.

There is no cool trick to this. Hire a lawyer or law firm. Having a lawyer draft these up (or review your draft) won't cost you a fortune, but it won't be cheap. Regardless, it's worth your peace of mind.

#entrepreneurship

Time under tension builds character, but it can also be dangerous. Here is how I deal with stress.

If you have ever lifted weights, then you probably have heard about “time under tension”. The longer your muscles are under tension in an exercise, the more strength you can gain.

But I’m not talking about weight lifting
 I’m talking about life. Similar to the gym, time under tension in our lives is good. Instead of muscle, it builds character and perseverance. We find out who we are when we are living out days under tension.

I usually thrive under pressure. That’s not to say that I like it. I don’t. I prefer things to be going smoothly in life, just like anyone. Yet, there are always stressful times and I seem to find a way to rise above it mentally to get things done – whatever that may be.

But sometimes I start to run out of energy. My mental fortitude weakens. The time under tension is too long. If you’re under tension for a long time, it starts to feel normal. But it’s not normal. It’s dangerous.

The Best Medicine

I don’t know about you, but sometimes I get into a routine and don’t even realize it, and this includes existing in a stressful state.

I have found that the most effective self-care tactic is to exercise. For me, it’s Muay Thai.

There is something incredibly therapeutic about punching and kicking the crap out of a heavy bag. Maybe it’s the primal aspect of it
 “Me angry! Me hit things!”

You don’t have to buy all kinds of fancy fighting gear or join a smelly boxing gym, either. There are some boutique fitness gyms that specialize in boxing and kickboxing. The energy is great, facilities clean, and the workout will leave you feeling better physically and mentally. TITLE Boxing, Kickboxing.com, and CKO Kickboxing come to mind, but your city may have others.

The body and mind are connected. If they aren’t in sync, then that’s when I start to spiral a bit.

Most of the time my mind is taking care of my body, but every so often my body has to take care of my mind to relieve that time under tension.

#mindfulness

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