Errol Chin, the founder of Malaysian Social Media marketing firm Logic Solutions, is social media
entrepreneurship's go-to guy.
His company delivers solutions for a broad range of customers' digital needs, from managing social media accounts, traffic generation, to web design and crafting of offers.
In our recent interview, Errol Chin stated that running an online business and generating income online is very real.
But back in 2016, Errol was facing a bleak future.
After losing his job, and having also lost a fortune in online trading, he was left with a mountain of debt and no income. He figured that; it would take him at least 8 years to pay off all his debts providing he has a job.
There will always be a way out, he thought. He started Googling "how to make money online." He went through Books, webinars, and home study courses on the topic, accumulating credit card bills in the process.
He applied the information he had picked up from the materials and started to venture into online Marketing while working as an intern in a Day Trading Firm by day and drove for Grab at night.
Fast forward today after 5 years, Errol has built a 7 figure Social Media Marketing Firm. Though we consider this a great feat, Errol says that this is just the beginning and there is much more to come.
Selling Products and Services
February 2021, Errol Chin penned and launched his book How to Win the Instagram Game, which has generated over $400,000 in several months.
"Unfortunately, for 99% of the world's population, the only way they know how to generate money is to trade time for money," he told one of the websites..
"There will always be a cap if you trade time for money"
He summed up his strategy in a question: "How do you take what you're already doing in life and package and position it as a product?"
For instance, my daughter's drum teacher usually enlists students for one-on-one sessions. For Errol,
there's another way to look at it: "What if you took what you know, your life experience, your passion, your hobby, and turned that into a product that can be monetized on the Internet?"
For example, he shared, "rather than teaching one-on-one, it could be the case of recording a video, teaching people how to play the drums, and selling that as a home study course, selling that through membership sites, selling that through videos online."
5 skills to possess
Errol stressed that anyone who wants to build an online business must have or be willing to develop 5 skills.
These are learning how to attract a targeted audience; learning how to convert them to customers; learning how to craft a compelling message specifically designed to attract that market; establishing a sales process that is based on a proven system; learning how to market one's product and branding.
All these skills can be learned through personal effort and training, according to Errol Chin.
"Everything else can be outsourced. You can hire writers, you can hire graphic designers, you can hire programmers, you can build a team around it, but ultimately every successful entrepreneur will need to know those 5 key areas."
When to take the leap
Though the dotcom lifestyle is great, it is not for everyone, according to Errol Chin.
Some may plateau once they are earning a certain amount. Getting comfortable at a certain amount can be counterintuitive to one of the purposes of business, which is to keep growing and challenging oneself.
"The dotcom lifestyle is not for everyone, especially for people who do not have the motivation and discipline to be their own boss," Errol said.
He told us at International Business Times Singapore that "the number one reason why people fail is because of information overload, because they are trying to figure things out on their own."
Working at home or outside the confines of a traditional office may sound daunting, but Errol Chin advises people to take the leap regardless if they are fearful. He encourages people to go from ideation to execution of their plan, even if they have to quit their full-time job.
"At the end of the day, I'd rather live a life of 'at least I've tried than 'what ifs.' If you never try, you will never know," he said