Random thoughts…

Update: Jeremy called me and asked to take some information off the article. His main concern was having his home address in the article (it is freely available on the Internet anyway), but I have no problem to take it off. So this article was edited. This article was written some time ago, so please take it into consideration. It might need updating and feel free to add your comment. All I want to accomplish is little bit of critical thinking about “facts” you are getting from “celebrities” like Shoemoney:-)  

I have several friends who are constantly sending me articles or messages about Jeremy Shoemaker a.ka. Shoemoney. I even signed up for some period time to ShoeMoney blog, but didn’t find the information too useful. It seemed more to me like the motivational real estate people selling their proven systems on late night TV. There are also things which does not feel right and I think Shoemoney doesn’t tell the whole story. I am tired to see my friends following every word Shoemoney says with almost religious fanatism. Here are some thoughts…

AdSense check

It starts with his photo of check from August 2005 for $132,994.97. It seems that Shoemoney claims he is making even more now that that. I am also hearing that he didn’t make the money on check using PPC (driving traffic to his websites by PPC). This is the first thing which sounds very fishy to me.

1. What are these websites which brought the revenue? Did he ever list them somewhere?
2. Compare the earnings (approx. $4,400 or more per day) with case study on Weblogs.

Weblogs, Inc. is a publishing consortium of 100 independent bloggers who produce more than 1,000 blog posts a week across over 75 industry-leading blogs, including the popular consumer technology blog Engadget, luxury goods blog Luxist, and car-focused Autoblog.

Weblogs show in the above case study how they grew AdSense revenue from $200 to $3,000 per day. Read again how many blogs, how many bloggers and articles.

Shoemoney would have to own at least comparable websites. But which ones?

Shoemoney claims he made the money through SEO, while he is saying in interviews that his own blog has ranked very crappy in Google. His blog is the most visible site and he didn’t know how to do SEO?

My blog always ranked crappy in Google and still does. (2006-11-25)

Ringtones

One of my friends sent me another link to the articles asking me if I still think that Shoemoney is B.S. You can read the article here: 2006 Was The Year Of Ringtones - 100,000 Ringtone Leads

The articles says that Shoemoney made $977,178.15 in 2006 on ringtones affiliates. He also says that only 50% of that revenue were driven by PPC and it cost him total only $51,114 in PPC expenses. Shoemoney is also laughing when he hears people say they can’t get voluem PPC with longtail cheap keywords. Of course he will not tell us how to accomplish that.

Where the money go?

OK. So we are on $926,064 for ringtones.
Minimum $2,000,000 on AdSense
$4,500,000 in community forum income. See the interview here.

OK. We are talking at minimum $7.4 mil. income.

Does this guy invest in anything? Does he own any real estate? Stock? Where does he live?

Some legitimate questions for anyone who is making $7.4 million or more per year.

1. Would you buy hummer H2? If yes, would it be your only car? What about sports car or luxury cars?

2. Would your second car be Ford Explorer pick up? Again, you are making over $7.4 mil.

Pictures are courtesy of Shoemoney own blog photo album.

3. Lincoln, Nebraska the most beautiful place on earth
OK. Why not live somewhere where is a decent temperature in winter? Why live somewhere where you can actually do something or have decent airport. This is a huge question for me and I don’t understand why would someone making so much money will be still living in Lincoln, Nebraska. What about Silicon Valley or living somewhere on the beach? I know that’s none of my business, but think about it that you made the money. Did Shoemoney explained it somewhere? What would you do if you had such money? Does this guy have no fantasy at all? Why being rich if you have life like that. This doesn’t make sense to me.
4. OK. Let’s assume that you love Lincoln. Real estate is not expensive so why not having great lifestyle and live cheap. Is 2,175 sq. feet and 2 bedrooms good enough? Don’t forget that you have a kid. Wouldn’t you think that someone making millions will be living little bit more in luxury? People making 10% of Jeremy’s claimed income lives much better than he does.
5. Why not invest some money in real estate? I think it is just natural if you make millions and don’t spend them for living to invest the money in something. I did the search for real estate holdings and didn’t find anything. Got to Lancaster County Register of Deeds and do the search for yourself. Actually I found the house on xxxxxxxeditedxxxxxxxx which I mentioned above. But nothing else.

Jeremy not only doesn’t buy more real estate, but he quit claimed his house to his wife on 04/03/200. Also would you still have a loan on your house? Isn’t better to pay it off?

Few more notes from Shoemoney interviews:

My income from websites had been bashed a bit so I had to go on unemployment from 9/2004-1/2005 (yes I only started taking a salary in 2005). Here.

Unemployed 1/2005, started his own company while in deep debt $50k, borrowing $5,000 from mother and selling computers. Starting SEO early in 2005 and made just from seo over $132k in August?

I also do software. I just launched a new product called SpaceLook, which is a application that handles all messaging and stuff with MySpace in a nice gui windows-based app.

I also own a company that does nothing but resell computers.

I also own a company that deals in importing exporting data cables for wireless phones.

So ya, I do more than ringtones It’s just when something is really hot and SO EASY to make money from you can’t look the other way. Also, being I am a 3 person operation–1) business manager 1) shoemoney 1) dillsmack - my badass coder–we really have to focus. More

I do not outsource anything. I have tried that in the past and it just does not work for me. I think mostly because I am a really bad manager. I just tell people to do stuff and then leave them alone until I expect it done. I am kind of a jack of all trades, computer-wise.

All in one man show? WOW

ShoeMoney Media Group - The Delivery and Service Organization one of the fastest growing, privately held, technology companies within the United States is a solution provider of choice developing and marketing web hosting products and security services that offer ask-oriented, “know how” solutions for businesses and home-office entrepreneurs and professionals alike. The company is a privately owned corporation residing in Omaha, Nebraska. More

OK. So it is one man show, but the fastest growing privately held company within the United States?

ShoeMoney Media Group, Inc., was founded and “Incorporated” in Omaha (NE) in 1996. More

OK. But the owner and only employee was switching jobs & unemployed until 2005. Also if you check Nebraska Secretary of State the company wasn’t incorporated in 1996, but rather in 2005. I know you might say it is a small detail, but details like that are difference between truth and lies. See Nebraska Secretary of State.

I did some search, not comprehensive and there might be mistakes. I just want to put different thoughts on the table. I smell B.S., but it is up to you what you decide.

UPDATE: I just spent morning arguing with one of my friends. It is really unbelievable how religiously some of Shoemoney fans believe whatever he says.

I went back to one of the Shoemoney interview and read it carefully and found out that he is making even more than I wrote here. Just read the article carefully:

Shoemoney: Combined subscriptions alone we have almost 95,000 members paying 19.95 every 6 months or roughly 4.5 million a year.

…. I would say as a whole its about ¼ subscription ¼ contextual ¼ affiliate and paid placement (adbrite and other) and the other ¼ in donations or random other stuff.

So if subscription is making just 1/4 of income we are talking about $18 mil. of total online income. So all my computations are wrong, please change the $7.4 mil. number with $18 mil. This is all from one interview here. Whatever is Shoemoney saying is getting harder and harder for me to believe.