#121: The Psychology and Strategy Behind $148,823.65 in Online Course Sales with Spencer Lum of Extra Bold

About the Episode:

In today’s episode, we’re talking to Spencer Lum, one half of the team behind Extra Bold, where he and his wife Katya teach small business owners how to write more effective copy and become stronger salespeople.

But, at one point in his life, Spencer himself didn’t even know what he wanted to do. Having studied Philosophy at UCLA, he took a cue from his parents and decided to get his law degree, despite his lack of interest in actually practicing as a lawyer.

This led him down the path to becoming everything from a web developer to wedding photographer, creative director, writer and speaker. Spencer did, however, eventually find his thing.

He built a sizable business in photography and eventually started creating content and building a reputation for himself as an authority that taught other photographers how to stand out from the crowd.

One thing led to another, and eventually, Spencer found himself chatting with a friend who teaches Psychology at Stanford University – about how people make buying decisions based on how badly they want something and that desire is something rooted in a deep, biological level.

After a deep dive into what it takes to ethically engineer desire & putting it into practice within his own business, Spencer and his wife have generated over $148,000 in sales of their products.

In Today’s Episode, We Talk About:

[02:21] Where Spencer is originally from.
03:09 What it was like studying at UCLA.
[04:17] His first side business.
[04:53] His time at Law school.
[09:02] His business history .
[11:12] About his current company.
[13:00] How he works with his students.
18:58 About his launch principle.
24:32 The best investment he’s made to grow his business.

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3 responses to “#121: The Psychology and Strategy Behind $148,823.65 in Online Course Sales with Spencer Lum of Extra Bold”

  1. Virender Arora Avatar
    Virender Arora

    Before listening, I want to leave a reply that right now I’m feeling directionless. I have a plenty of commercial space and liquidity to infuse into a new business… but still not finding the right path to continue forward…

  2. Belma Deng Avatar
    Belma Deng

    Thanks Ryan for sharing

  3. Drewry Avatar

    I might look into creating e-books and selling them in the future. That’s something I’m genuinely interested in. 🙂

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