James: James Schramko here. I’m here with my friend, John Lint, from 10XPRO.io. Hey, John!
John: Hey, everybody!
James: We’re going to be talking about something that I found incredibly difficult when I started online. And that is, how to accept payments from your online business.
John, I can’t tell you how hard this was. In fact, when I started online, I was an affiliate. So luckily, I was driving traffic to someone else, and they had to collect the money, and they would send me a check.
James: But in the end, it became sensible for me to create my own products and services, and then I needed to collect money. Now, you can stick a PayPal button on your website, if you go into PayPal and you learn about IPNs, and you do a bit of coding and you paste things here and there.
James: But then you have to figure out where people go once they purchase and how to deliver them their product or service. It can get a bit tricky. And then you, of course, got to segment those people as buyers instead of prospects. There’s a lot of things happening there that, typically, you will have that gap filled by getting a cart.
So, I went out and got a cart software that costs a couple of hundred dollars a month. And that’s just the cart software.
James: And that would at least help people get the thing they bought, collect the money. I could plug in my PayPal address and it would also add people to the email list as a buyer and take them off the prospect list. Then I want to get credit cards because I realized that PayPal is really just half the picture.
James: And I approached my bank and, you know, it took about four years for my bank to actually respond. And after all the paperwork, they were treating me like a retail store.
James: And, finally, I got an account. I then double down and I got a second account because I figured it was so hard to get this, I don’t want to lose it. And I got a second account. And then eventually into the market came this player called Stripe.
And Stripe made it really easy. Now, I could just plug in a Stripe account, and boom, I can collect credit cards. I think it’s important to collect credit cards, and PayPal, because I found that given the choice, some people will actually toggle to the other one. And I end up doing about 40% of my business with PayPal and 60% with credit cards.
And what I found with the PayPal ones, they could actually stay subscribed quite a long time. Because for a lot of the people in the space I’m in, they collect PayPal money from their customers. And I think a lot of people when I started out had a PayPal account because they’re on eBay, which was big about a decade ago.
James: Now, you’ve come along with 10XPRO.io. You’re helping people with courses and memberships. And, of course, they need to get paid for that. Can you tell me where your solution fits into what I’ve just described?
John: Right. Well, the solution is basically all-in-one, right? And our job is that you don’t have to struggle with, like you said, Okay, I’m going to get PayPal. Then I’m going to have to struggle with all these IPN and stuff to be able to connect. And then, yeah, when someone buys, I want them to get registered into the course. How do I do that? Oh, I need to buy this other thing. Great.
Now, I need to have a beautiful order page on my website. How am I going to do that? Oh, I need to buy something else or hire someone to design it and integrate it with the payment system. Because let’s be honest, I mean, a PayPal button is not very sexy. You need to build a page.
But then maybe you want to do extra things like one-click upsell, one-click down sells. You want to have promo codes, you want to have order bumps, all these things that are going to allow you to maximize your sales. Well, how do you do that? All of that adds on and adds up. You know, all of that, basically, will force you to start paying over $200 a month just to be able to do that.
10XPRO.io, it’s all about simplifying everything. It’s only one tool that will allow you to do everything that you need to be successful online. So, accepting payments online is one part of it. Like you mentioned, yes, we do have a beautiful members area where our clients can create any online course they want and there’s a ton of features. You can also create marketing pages, funnels, all of that. But accepting payments online is one part. It’s all built in.
The only thing that you need to do is to, basically, click a couple of boxes in the settings to integrate, like you said with PayPal. And also integrate very important with Stripe. Stripe is amazing. You shared your experience, how you were struggling with your bank, I had the same experience. The bank was asking me for a personal guarantee, where I had to sign basically saying, Yeah, I’m going to pay this much every single year and I will be personally responsible, some crazy stuff. It took forever. And then finally Stripe was available.
And, you know, Stripe, anybody can open a free account. You sign up today, in a few hours you are set up, then you connect your bank account. It’s all safe. And you just say okay, well, this is my company bank account. These are the details, which allows Stripe to basically instantly transfer any money that you collect online. Boom, they can then transfer it the next day to your bank account.
You keep all the money, but then with 10XPRO.io, you can connect with your Stripe account. And then it’s super easy. You use your mouse, you create order pages, and boom, you are up and running. You are accepting payments online.
And you can charge anything you want. You can charge one-time prices so they pay one time. Payment plans, for example, three payments of 67 or 97. Or you can do subscriptions, of course, monthly subscriptions, yearly subscriptions. It’s really up to you.
And it’s really how much you want to charge but everything is included. You don’t have to get in another built-in shopping cart. Everything is built in and you can get up and running very, very fast.
James: Love it. The perfect solution. I wish it was around when I started out. But I know my mom, actually, contacted me today and she’s ready to update her course. And I know exactly how we’ll be making that course go live.
John: Cool. Awesome.
James: Thanks, John. Great catch up.
John: Thank you.