SFN164: Jason Carter on Generating $115k Using Cold Email

Starting from Nothing - The Foundation Podcast | Building your business ENTIRELY from scratch.

Jason Carter is a software engineer with a PhD in computer science. While going through The Foundation Process, Jason dabbled with a few different niches. Once he started seeing results, he focused on the path of least resistance. Through consistent action and reflection, he learned what he what he was doing wrong in his process, then made adjustments to set his system right. In just eight months he was able to generate $115k all from using cold email.

In this interview, Jason tells us what he’s learned from mistakes he’s made when he first started cold emailing people, and what he changed in his subsequent emails. He also shares why he deviated from developing a software for multiple customers in one niche (like most Foundation students have done), to developing software on a per-project, one-off basis.

In This Interview I Ask:

4:41 - What was going on in your life before the Foundation, and what was the impetus for you to decide to go through [the program]?

6:01 - Have you ever been out there selling to the customer?

7:42 - How did you kick off your first project?

10:24 - How passionate are you about dentistry?

13:50 - What was the call to action in the [initial] emails [you sent] that made it seem like you were asking for too much for a cold email?

14:39 - What did you change when you [started] cold contacting the list of dentists you had an affiliation with?

12:52 - Take us through the story of the first person you started working with. What was that like?

15:27 - Why did you decide to build a software for one dentist as opposed to many dentists with the same problem (what students typically do in The Foundation)?

16:50 - So what did you make on this first project? What did you quote it?

18:20 - What was the time frame from the time you sent the first email to the time you started getting paid by your first client?

19:50 - If I were to go out there and pick a list of 100 people, what are some of the mistakes that I would make as a novice?

25:00 - What have been the outcomes of cold email in your life?

22:47 – Have you ever really done anything [related to] a sales career?

23:12 - How uncomfortable was it for you to do this?

23:29 - When you get that voice in the back of your head, how did you get through that?

24:33 - From the time that you did your first project, how many other consulting projects have you brought on as a result of this cold email outreach?

24:49 - You want to tell the Vegas story?

27:50 - Where are you going to take all of this?

28:38 - If I were just the middleman entrepreneur who went in and discovered the problem and then hired a developer to complete that deliverable , out of the $115k, what would I actually keep in my pocket?

31:40 - What is the biggest takeaway for you over the last eight months?

The Foundation Process

1. Find a problem to solve.
2. Pre-sell your solution to that problem.

How to Pick a Market

You can pick a market that you’re passionate about, but it would be better to pick a market that actively spends money and invests in their growth. “What you need to fall in love with is the process of starting businesses rather than the specific niche or passion.” - Frank Mocerino

Tips for Cold Emailing

• Find the top influencers in your target market. Those are the type of people who will do extra work (and spend the money), are passionate, and want to grow.
• Mention your common affiliation (ie: college or networking group) in the subject line of your email. If you don’t have a common affiliation, take the time to read their blog or listen to their podcast. Then share what you found valuable from your experience with their content. They will appreciate you for taking the time.
• Keep in mind that one lead can connect you to another. Top influences will know and put you in contact with other people in their field. After confirming their problem, ask them if they know of others like them who also suffer from that same problem.

Mistakes to Avoid When Cold Emailing

• Don’t send emails to general addresses like [e-mail]. Instead, go for the direct email [e-mail].
• Don’t try to sell them something in the first email. Instead, explain your interest in learning about their pain and wanting to help create a solution for them.

Example: Jason was too focused on himself and what he wanted from the email

recipient rather than what he could do to help them. “I was focused on ‘This is

who I am and this is what I want’ instead of ‘This is who I am, how can I help

You?’”

• Don’t worry about the quantity of your email list. It’s not about how many people you email. It’s about the quality of the people you email.

Show Links:

The Science of Cold Emailing, sign up form