Today, we’ll take a look at 2 training programs from Richard Louie, aimed at 2 different sides of running an eCommerce venture. Both courses come under the Team New Rich Mastermind brand.
We’ll take a look at both products, what they offer, and whether or no they’re a good investment for you. Priced at $1,497 and $4,997 (pricier for non-US residents), it’s only logical to be 100% sure of their value.
If you’re not really interested in learning what’s included in each program in terms of content and lessons, you can skip to the final verdict.
What is Team New Rich Mastermind?
It’s actually the brand under which Richard markets his eCommerce education. As of this article’s writing, there’s a foundational course and a marketing guide available.
You can access both programs through the brand’s page on Teachables. Likewise, you’ll pay and watch the content on the same platform, both on mobile and desktop.
From the sales page, the foundational course is pretty much what it suggests: the introduction to the business. The idea is for you to get the second one afterwards, so you’d be paying almost $6,500 in total.
The basic course is all about Richard’s own strategy for scaling a store to make a couple hundred thousands monthly. It starts off with how to build your store until closing with primary advertising.
There are 6 modules overall with 20 videos spread among them. The content is complemented with downloadable files.
This is more of a premium course compared to the previous one. Just keep in mind the price and that you’ll still need money to implement the lessons given here.
The sales page states that it focuses on running Facebook Ads from Shopify, and that’s actually a good summary of what you get, plus some content on how exactly Facebook works.
As for length, the course has 1 module and 7 videos more than the foundational class. You also have over 20 downloadable content forms to complement the main lessons.
Who is Richard Louie?
Richard is a young eCommerce entrepreneur. You’ve probably heard about him if you usually watch eCommerce content online, as he’s appeared in various videos on YouTube and online articles. They usually focus on how he found success with dropshipping.
The most famous video of him is an interview by Graham Stephen, with nearly 200,000 views.
His entrepreneurial life started when he was 16, just after graduating from college. Until now, he owns 3 different businesses around related fields. Besides his eCommerce ventures, he also does social media marketing and real estate.
According to him, he’s made nearly 4 million dollars for different clients with his marketing expertise using FB Ads only. His eCommerce revenue is estimated at about $40,000.
He also has a YouTube channel, but it’s surprisingly small for his fame; he’s also fairly random with content frequency, even spending months without uploading. In fact, you’ll find most of his content being uploaded well over a year ago.
His content is standard eCommerce videos: strategy discussions, tips, and recommendations. It’s a safe bet to say that most of his subscribers simply come from his different interviews.
On the other hand, his Instagram account has a respectable amount of followers, surpassing the 20,000 mark. Strangely, there’s even less content here (considering it’s IG) than on YouTube: only about 20 posts. There’s not much value here, either – just his lifestyle and luxuries.
Who is Team New Rich Mastermind for?
Let’s be blunt and get this out of the way: Team New Rich Mastermind is for people with lots of leisure money.
Spending over $6,000 is a crazy investment in eCommerce education, especially with much cheaper and great options available (more on that below).
Among the people who can spend the money and not risk their comfort, then it depends on the product.
If you’re a total newbie, then the first course might be necessary. I’m speaking about people who don’t even know how to build a store. You’ll learn the basics to understand the second course, which is necessary since the foundational program won’t be enough.
If you already have a store (or know how to build one), then you might be better off going straight into the more expensive marketing course.
What is included in Team New Rich Mastermind?
Let’s go into the content from both courses now.
The foundational course
It opens up with a module about setting up Shopify. It’s just an intro explaining how to get everything in working order, build your store, set up an LLC, and getting a theme for your store.
The second module is about product and niche research as well as understanding your audience. It touches on research methods, recommended apps, and it closes with a small extra about why it’s important to keep track of your profit margins.
Then comes a basic Facebook Ads module. It has seven videos averaging about 5 minutes each one. These cover setting up your FB Pixel, understanding your audience and products, setting up proper ads, understanding your analytics, and how/when to either scale or kill ads.
The 4th module builds on the previous marketing module. You learn about what PPE advertising is (you pay for engagement) as well as how to implement the technique into your own website. Richard explains how to keep an open mind when testing products before teaching you how to properly use breakdowns and your conversion window.
The last main module covers email marketing. It starts off with a video explaining what this is, and then it teaches you 2 programs you can implement for this task; they’re Klaviyo and Recard, and Richard discusses both. The last video gives you some sequences as inspiration for your own emails.
There’s a “bonus” module as well, but it only offers a piece of motivation and links that take you to Richard’s social media profiles to follow him.
eCommerce marketing guide
I’ll have to admit that this course has a nice addition in the form of custom themes to use on your store, as provided by the intro module. It doesn’t really make up for what you’d pay, but I always like when courses offer things like these.
The first actual module in the marketing course gives you a few tools that you can use to make marketing a bit easier. There’s a checklist, an explained strategy for testing, and some tips for hiring private charter flights at affordable rates. However, it feels really random, and some tips can make you spend more money than necessary since they’re not really related to eCommerce.
The 3rd module is the biggest section in this course, and there are several videos explaining different marketing approaches that you can implement into Facebook Ads.
You start off with some store building tips to improve your conversions. You’ll learn what a high converting site looks like and how to set up one. You then learn how to find good products with different methods before going into which Shopify apps you should use. Back with products, Richard explains how to write proper descriptions. Other store-related lessons down the line include why branding matters, how to deepen your research, how to use upsells, optimizing your store, and how Richard scales his own businesses as well as a few case studies.
You also learn about Facebook marketing and different ways to tackle it. You’re given an introduction to the platform before learning how to create optimized land pages. Richard touches on why social media relevance matters before going into how you can set up your account and Pixel. There’s a lesson on optimizing ads, using free+shipping, manual bidding, implementing sales funnels, scaling ads, and virality.
There are also some seemingly random videos on other topics like PoD and how to use IG for your business – nothing really useful, though.
The next module just adds a few more advanced methods to the previous section, and it actually rehashes several lessons from the foundational course.
After that, there’s a setup module. However, the content is mostly for beginners: store setup, FB Pixel (already covered), and Favicon implementation. Honestly, Richard is mostly repeating himself here.
The final module is a “special” one, and it also repeats more content: how and when you should set up your LLC. The rest of the content is mostly irrelevant: some productivity tips and a weird brainstorm session in the end.
Team New Rich Mastermind final verdict
I can’t really recommend this course to anyone. Even if you know squat about eCommerce, you’d still be better off getting a cheaper course – which will likely also be more comprehensive.
The content in these courses – even when combined – doesn’t warrant spending several hundreds on it, especially considering you’ll then need even more money to put all the lessons into practice. There’s no way around it, either, for this course focuses solely on paid advertising.
Finally, the idea is clearly to sell you both courses or at least the most expensive one. It’s even more unnecessary when cheaper courses already offer the same content from both classes on a single package.
That takes us to eCom Elites. It covers everything in this course, with much more depth, and lots more. You’ll learn the in’s and out’s of Facebook advertising as well as IG, Google, email marketing, and SEO as well as lesser-known channels like Snapchat or chat bots.
Not only everything comes in a single package, but that package is $297 at its most expensive premium package. You can even get the standard course for $197.
Even if you get the premium package, you’d still have over $6,000 to spend on your business.
Team New Rich Mastermind Alternative
I have gone through a lot of these dropshipping guru courses and personally, a lot of them are overpriced courses with very little information. They always try to sell you the dream or the lifestyle rather than actually selling you information. Dropshipping is not an overnight get rich quick scheme but, a lot of these gurus make it out like that. That’s why they ask for ridiculous prices for their courses. So, I personally get why you’d not trust in these courses.
Now, I still recommend a course if your either beginner or intermediate at dropshipping because it can save you a lot of money by optimizing ads and saving you lots of time. My personal favorite and favorite among many others is a course called eCom Elites by Franklin Hatchett. Now, the reason why I love this course because it’s one of the most affordable dropshipping courses out there and it has literally over 150+ videos. Franklin’s been doing dropshipping for many many years even before it was made famous by a lot of the gurus.
Make sure you read my eCom Elites Review to see how much information Franklin packed in this course and offers it at such a low price.