6. Research Example - Rob Tidwell Tax Savings Product

Research for Taxbot

I. What We’re Looking For…

Insights Into Demographic :

Who Is Your Customer? Americans who are self-employed or own a small business.

How Old Are They Typically? 30-49 years old

What Attitudes Do They Have? (Religious, Political, Social, Economic)?
-Tend to be “right-leaning” (Republicans). Many think that young people are lazy.
-Warren’s health tax will cost us, small biz owners.
-They think that it’s “socialism for corporations and capitalism for us.” (SYSTEM IS UNFAIR)
-It's highly risky and most businesses will fail.
-Most new small businesses fail, and those which succeed, most do mediocre financially,
-I don’t see running a business as a side gig as risky at all.
-Paris Hilton earned it by being born rich
-I want to make money and help people.
-I don't tell people things aren't going well," he smiles. "I tell people I'm busy."
-Self-employment means different problems.
-Success and failure are down to you. That has its ups and downs; you can't blame anybody else, which in this trade is rare."
-Keep failing, fail harder, fail more but keep trying and don't stop,
-It (self-employment) can be more stressful, but it's good stress.
-No way, never again. I'll stick with large corporate, thank you.
-We’re all fucking tired. The competition is only getting harder. Keep working.
-Agreed, they mostly jumped onto every get-rich-quick scheme going IMO...In reference to people who fail at the biz.
-In my experience, running a business is more work than being employed.
-starting a business is a lot of hard work and very few people are successful even smaller amount successful enough to make it a fulltime thing.
-I was really excited about converting my small business to an S corp, until I
-But I don't know which type of business to create, how much to claim in dividends, how to do any of it, or if creating a business would even be the right move to make.
-Why does Paris Hilton deserve to be taxed at a lower rate for doing nothing other than coke and blowing Eurotrash while a person who goes to work for 40 years, day in, day out deserves to have more taken out of their incomes?
-I have never regretted starting our businesses.
-People argue that working for a big company is shit because you'll never be producing for yourself
-That's the point of becoming an entrepreneur. You risk it all and might take an arrow to the knee or you make it big time after some time have people working for you and just sit back and relax.
-Entrepreneurship works only for a minuscule percentage of the people who even try to. You only hear about the 1 successful case, not the 1000s that failed trying to.
-The G'vment is really trying to tax its way out of this recession here.
-Your bigger regret will be not trying. It's really that simple.
-Everything about owning a business sucks.
-I was never happy as an employee.
-Being self-employed is the worst ideal very few successful people try to promote
-I just wish more people could understand the amount of time, money, and work it takes to run a small business. And that most of will never get rich, but it is our passion!

-I didn't choose it, it chose me
-It's really hard to run a profitable small business smoothly.
-I didn't choose self-employment, it chose me.
-I just say Fuck self-employment tax and fuck you TurboTax. I swear the IRS must just look for self-employed people issuing tax prep software.
-I have a huge problem with authority figures.
-Don't get sucked into the trap of letting your business become your life.

*RED HIGHLIGHTS = RESPONSES FROM REAL CLIENTS *
I never knew that I was losing so many eligible deductions in my Real Estate Business,
Sandy really opened my eyes to my rights as a taxpayer."
audit-proof your taxes,
Sandy made a scary topic not only understandable but also fun.
Sandy helped us put the IRS in perspective."
I feel confident that we will be "audit-proof"
Sandy have given me the confidence to take on my bully accountant and the IRS."
I left the seminar feeling for the first in my life how to file a tax return and keep proper documentation
"I wish I had heard these things 8 years ago. I know I have lost $$$ through ignorance,
You will feel much better about the possibility of getting audited after you get the facts from Sandy."
It's amazing to learn how little I know about our tax laws!
"Let's just say this about getting organized and doing it right. Documentation is the key.
I was absolutely amazed at what I did not know, and my accountant did not tell me about my tax deduction.
If you want to have the IRS decoded, go to one of Sandy's events."
I have learned so many new money-saving deductions
It made me realize how much I was missing on my deductions
A real eye-opener. Sandy makes a very complex topic easy to understand for the layman."
Sandy was right on with his evaluation of critical deductions I was missing in my business.
My fear of the IRS has always stopped me from trying to increase my deductions.
I never cared about anything to do with taxes until I heard his seminar
-Starting a business is FAR more difficult than books, articles, movies, and Unicorns make it seem.

What Are Their Hopes and Dreams?
-My ultimate dream is to quit my day job
-Not having others ruling over me is absolutely priceless.
-I will start this by saying hate my current job and would more than anything like to self-employed
SUCCESSFULLY...

What Are Their Victories and Failures?
Failure: I have one business that I started with a friend that didn't work out, and I do regret it.
Failure: You never clock out when you own your own business.
Failure: One disadvantage -- for me -- was that I could never take a proper vacation because I had to be
available for client emergencies.

Failure: I don't regret starting my own business, what I regret was picking shitty business partners/investors and underfunding it so it was crippled from the start.
Failure: 10 years in..now trapped
Failure: Honestly there's a lot to be said about working 9 to 5 , getting holiday pay and doing the general . I never turn off , I never stop and most of the money I make goes to the taxman or other mundane realities
Failure: . Shutting down biz because. for peace of mind and to focus on my life
Failure: i'm f*cking tired of it all
Failure: In the last three years, I've sacrificed everything for success and didn't get SHIT in return. I lost all of my friends. I lost all of my self-confidence. I lost weight (was already skinny). I lost my parents' respect.
Failure: I was in an inhibited state where so much crap piled up in my life I became overwhelmed and gave up on taking care of myself. And that included filing taxes.
Failure: I honestly have been failing for 7 years but I'm still trying. Wasted time and 10's of thousands of dollars.
Failure: you may not be able to just close up if you want to take a vacation.
Failure: I took less vacation and worked more hours working for myself
Failure: I feel so trapped.
Failure: “Most small business owners can’t afford to take time off to come to something like this,”
Failure: I wish I’d known that I needed to treat freelancing as a business.
Failure: Very burned out (but less successful).
Failure:I am getting burned out! 6 figures is great but at what cost. I am to the point some days I just want out and to sell them all off and live a more stress-free life
Failure: but in the end, I decided my physical and mental health, peace of mind, marriage, and relationships are all far more valuable than the money at this point in my life.
Failure: My body and my brain have put a halt to my life
Victory: Not having others ruling over me is absolutely priceless.
Victory: Yeah clients call you all the time about work stuff, it’s a trade off, but I relish choosing to do what I like.
Victory: but it's better than dealing with one demanding boss who is standing directly behind you, staring at your computer screen.

What Outside Forces Do THEY Believe Have Prevented Their Best Life?
-Trump’s ‘small business tax cut’ is actually for rich people who don’t work
-And Capitalism continues to crap all over the workers, just like it’s meant to.
-However, it is becoming increasingly more difficult to run small businesses and make a profit because corporations undercut prices in a way a small business cannot.
-Corporations are finding loopholes around them
-The G'vment is really trying to tax its way out of this recession here.
-Socialism for the corporations, capitalism for us.
-Complex tax code
-I want to incorporate my successful online self-employment to an S-Corp to save on taxes. What's the best way to do this?
-I think my biggest issue is getting my foot in the door.

What Are Their Prejudices?
-Democrats...liberals
-“Well, the Dems better get going on messaging.”
-Why does Paris Hilton deserve to be taxed at a lower rate for doing nothing other than coke and blowing Eurotrash while a person who goes to work for 40 years, day in, day out deserves to have more taken out of their incomes?
-And Capitalism continues to crap all over the workers, just like it’s meant to.
-Big corporations...are getting away with murder, while they (the little guy) foots the bill

Sum Up Their Core Beliefs About Life, Love, and Family In 1-3 Sentences.

Most are folks who hate working for a boss at a corporate job and want to be self-employed but know that chances of succeeding are low. They tend to lean to the right politically, but still think that capitalism works better for big corporations while screwing the little guy. Many feel trapped in their business and have no time for vacations or weekends. (Major pain point) All seem frustrated by complex tax laws, and are generally scared and confused by taxes.

Other Existing Solutions:
What is the Market Already Using? (List Out)
-Forums for free help
-Mileage tracking software
-Expensive Attorneys
-Expensive CPAs
-Books on saving taxes

What Has Their Experience Been Like?
-They don’t like their “bully accountant”.
-“I spent years trying to follow the advice of a "regular" financial advisor, always frustrated that she didn't want to look at our whole picture or plan anything creative.”
-They’ve been terrified of tax law, the IRS, and audits.
-“I’ve got to find my family a new CPA and financial advisor. Both have been giving us bad advice for years. “

What Does the Market Like About Existing Solutions?
-”They like a different perspective on money,
-“Thinking outside the box”

What Does the Market Dislike About Existing Solutions?
-Outdated information.
-Confusing/conflicting forums
-“Bully” CPAs

Are Their Horror Stories About Existing Solutions?
-Having to pay back taxes because of bad advice or processes
-AUDITS

Does the Market Believe Existing Solution Works?
-Not usually...

If Not, Why?
Most don’t know what they don’t know.
They think the cards are stacked against them as small businesses. That the laws favor giant billion-dollar corporations.

Curiosity:
Has Someone Tried to Solve the Market’s Pain Points Before In A Very Unique Way?
Our company has the most unique that I can find. So not really. Taxes are pretty boring.

What Was The Result?
Boredom

Is There A Conspiratorial Story Behind Why Old Solutions Didn’t Work?
They think the cards are stacked against them as small businesses. That the laws favor giant billion-dollar corporations.
Capitalism favors the rich..and screws the little guy

Are There Any Older Attempts to Solve the Problem (Pre-1960) That Are Unique?
Not really...the laws are always changing

What Happened? Were they successful but forgotten? Or were they a failure? Why?
Nothing really...the laws are always changing.

Corruption:
Is There A Belief That the Market’s Pain Point Used To Not Exist, Or Used To Not Be So Bad?
Yes. The belief that the rich get richer with the way today’s laws are written.

Is There A Belief That It’s Been Recently Exacerbated By Outside Forces?
Depending on their political views...they blame one party or the other.

If So, What Are Those Forces And What’s The Reason Behind Their Presence?
Bad politicians...cuz of the liberals or lazy millennials

II. Where to Find The Answers to Our Research Questions?

Forums/Reddit:
Look for replies vs. views. Why? On a post, if lots of people view it that’s great, and there may be interest. But when there are a ton of REPLIES, it means people are really passionate, interested, and engaged.

Examples:
https://www.reddit.com/r/fatpeoplestories/comments/28nuy3/a_rant_on_the_sad_reality_that_is_often_type_2/
https://www.reddit.com/r/fatpeoplestories/
https://www.reddit.com/r/keto/
https://bitcointalk.org/
http://www.personaldefenseforum.net/showthread.php?814-Venezuela-A-Case-for-Prepping

Facebook Groups and Pages:
Similar to forums. Pay attention to the posts with the most engagement. Not interested in a ton of “likes.” Only semi-interested in a ton of “shares.” Really interested in a ton of comments and arguments.

Example:
https://www.facebook.com/Diabetes-Support-119703998103102/?ref=br_rs

YouTube:
Same thing again. I’d look for one that has a good amount of views. But then I’d also look at the engagement and comments.

Examples:
https://www.youtube.com/results?search_query=bitcoin+conspiracy&sp=CAM%253D
https://www.youtube.com/watch?v=h8iBKbubCxM

Comment Sections on Articles:
And the same thing again.

Examples:
http://www.breitbart.com/
http://www.breitbart.com/london/2018/04/17/macron-europe-migration-destiny-africa/
https://conservativetribune.com/

Authority Figures / Influencers:
Has Dr. Oz/Kim Kardashian/Oprah/Sanjay Gupta/Hot Lifestyle Model/Mommy Blogger/Whoever been discussing a specific pain point or solution?

We laugh at Dr. Oz and the free trial guys (and straight sale guys too) have kind of turned it into a joke. But at the end of the day if Dr. Oz is talking about an ingredient or a product, then most baby-boomers believe It must be the greatest thing since sliced bread.

When looking at an authority figure or influencer’s website, article, Instagram post, blog, etc…
Did they explain any science behind how the problem works, or how the product acts as a solution?

Google:
It sounds simple but Googling the problem and solution is the best way to find information. Look at information from both Big Name sites and smaller ones. If you find something interesting, open a new tab, and start doing more research about it…

“How to”
“How does”
“What is”
“Best ways to”
“Natural ways to”
“Why do”
“____ Benefits”

For Nutra:
Google: “ingredient name, humans, NCBI”.
Look for double-blind studies and pay attention to dosages in there, and if the ingredients in your product match or exceed those dosages.
“Meta-Analysis” articles are super useful too.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5664031/
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4609100/
More Places to Go…

Examine.com (Go To Human Effects Matrix For Studies)
DrAxe.com
WhFoods.com
OrganicFacts.net

Amazon.Com
No surprise here of course. But perfect for looking at similar products on the market, and reading reviews of them too. This works for both indirectly compete products, and direct competitors.

Look at 5 Star Reviews and 1 Star Reviews.
Look at the FAQs as this will help know what your market is wondering about.
Look at similar products customers have bought.
Look at product features/benefits/claims.

Examples:
https://www.amazon.com/Turmeric-Curcumin-Bioperine-Joint-Relief/dp/B0112M60KI/ref=sr_1_1_sspa?s=hpc&ie=UTF8&qid=1523981225&sr=1-1-spons&keywords=turmeric+curcumin&psc=1

https://www.amazon.com/Penn-Plax-Aquaponic-Promotes-Environment/dp/B012QGR2TC/ref=sr_1_5?ie=UTF8&qid=1523981281&sr=8-5&keywords=aquaponics

III. IMPORTANT Notes:

Through your research, you’ll typically end up getting the kernel for the mechanism behind the problem and the solution.
If you find a unique solution to the problem, and your product fits it, don’t be afraid to fit the two together.

For example:

If you have a weight loss product…
And your product is geared towards helping with metabolism…
You find a lot of research about how metabolism is governed by the thyroid hormone…
You may want to bridge-the-gap, and have your product talk about…
This means making your copy about how a dysfunctional thyroid is the real cause of your poor metabolism.

Rabbit holes are your friend (within reason). I’ve found some of my most interesting unique mechanisms and my best stories by going down rabbit holes.
Examples:

Maybe you’re looking at doing a DIY solar generator. You see someone’s name as an early inventor of a prototype. You look into the prototype and find out it had a novel mechanism of action. That’s all great fodder for copy.
Recently writing a new offer for foot fungus. It has an ingredient called undecylenic acid in it. End up finding a U.S. Military Medical History about how during WWII, U.S. soldiers were PLAGUED by foot fungus. It was so bad it caused almost 10% of our soldiers to miss time in action. The U.S. Surgeon general at the time went on a desperate quest to find something that would control fungus. Ultimately they discovered that undecylenic acid was superior to all the rest.