Hello everyone, this is Arpit Rana from learnsomebusiness.com and today I have brought someone special for you, here is the richest person in my network. Om Thoke has 6+ businesses, he has a revenue of 1 crore+. Om Thoke has supercars, superbikes, and even some Villas. Apart from that he also has a well-settled business in the USA. So, let us dive into what Om has in his mind and how he build this empire. How will you define Om Thoke?
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Om Thoke Interview
- How can people start a career like you?
I think I’d define myself as someone who loves to write, sing, play music, travel the world, and enjoy building new digital businesses every year!
I also love helping aspiring entrepreneurs and bloggers and break the shackles of the taboo of becoming an engineer and seeking a job mindset, while creating job opportunities for the countries and improving its GDP
2. How you have grown your business to this insane level as your revenue is 1 crore+ per month?
I started as a blogger and I think anyone can do it even in 2020 – sure thing, the competition has grown radically and a lot of stuff has changed in last 14 years, but there’s always scope for new entrants each year, just the way there’s room for fresh graduates to get jobs
3. What have been the turning points of your business?
Oh well, 1 Crore/mo is very little in the digital world, and I know people doing 1Cr/day (and even beyond) and I think 100 Cr+/mo should be classified under insane revenue levels. Of course, it took me 12 long years to get there, and the journey had been full of ups and downs and things aren’t always rosy for an entrepreneur, and it takes a lot of determination and never-give-up attitude to get going during the rough times. I guess the ability to keep fighting through the bad days, and having the belief in your business and yourself is what really keeps an entrepreneur going, and the same was the case with me too!
4. How do you juggle between 5 companies and still manage to grow all of them profitably and what’s your advice to teens?
My first turning point was May 18, 2011, one of the darkest days of my life when I lost $100K+ as 93% of my blogs got wiped out with a Google update and google banned my Adsense account too, which was my only income source and it forced me to pivot my business model to services as we started taking web development, SEO consulting, backlink building, and content writing projects, and we bounced back by 2013 mid, as I then diversified into affiliate marketing and made good money until 2015, which was another turning point as another advertiser defaulted a large affiliate payout
I started exploring other options and happened to meet Cofounder of my e-com business vertical, Prateek Dwivedi, who was looking for someone for his personal branding and happened to meet me! That project didn’t work out but we made good friends and eventually in Jan 2018 we started working together on e-com, but once again we scaled without properly calculating our margins and got a major setback in the first 5 months despite doing almost 5 crore revenues!
5. Your advice to young entrepreneurs.
I see a lot of young entrepreneurs giving up in just 6-10 months, and sadly right before they’re about to taste success – I took me 11 months to earn my first $108 from Google Adsense and almost 6 months of groundwork before I started my first blog and even every conventional business takes 24-30 months to turn profitable but I see the millennials and next-generation entrepreneurs to be super impatient and that’s where they fail I reckon – persistence and perseverance are the keys to success – my two cents!
6. How do you juggle between 5 companies and still manage to grow all of them profitably and what’s your advice to teens?
Actually I focus on my every new venture until it turns profitable enough and starts generating 1 Cr/Annum revenues and then try to create a system where I play only driving role, and get out of execution part, which allowed me to keep running & growing it by investing just 2-4 hours on it instead of 10-12 hours/day (which I initially invest on every business during its first year)
7. How can someone make conversions if nothing is working for him?
Talking in the e-com context, if someone is unable to generate conversions, he/she should test different ad angles, creative/videos, ad targeting and also ensure that checkout is seamless!
8. What you want the audience to know about you?
Well if they’ve been following what I’ve already said so far, I guess they know by now that I’m someone who loves exploring new opportunities each year and scaling existing businesses to bigger heights, and isn’t afraid of failures — rather I love to share my failure stories instead of success stories so that people get motivated NOT to give up even during the horrible times!
9. From where you grasp knowledge?
I always keep watching YouTube videos, listening to podcasts on the move, meeting new people, networking with elite entrepreneurs, going to masterminds, and I’m always trying to learn from other speakers whenever I go as a speaker to any international event as everyone has 1-2 things that you can pick up from them!
10. What do you think would be hot in the digital field in 2020 – final advice for everyone?
I think I’d say that the digital field is very dynamic and even if you’ve been super successful in 2019, next year could totally turn things around, and the same applies in case it hadn’t been as successful because every year something new comes up!
Those who got into Dropshipping 5 years ago, made a lot of money, and same was the case with those who started affiliate marketing through plenty of fish, or Google Adsense in 2007-2011, but 2020 will again be different
Cash on delivery is hot in e-commerce and if someone wants to enter Indian markets now is the time to do it – our service, DOTS serves as all in one solution to needs of global media buyers as our agency helps in process of importing, storage, warehousing, packaging, call verification via call Center, last-mile delivery, cash collection down to global remittance and consulting on scaling their e-com campaigns to $100k/mo & beyond!
Thank you, Om. So, are there any more questions you have? I will take them to Om Thoke.