Anik Singal Went From $1.7M in Debt to a $20M Business

Oct 25, 2018

Wes Schaeffer

The Sales Podcast Marketing Automation Online Business Entrepreneur

How to build it then rebuild it right.

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Sales Tips you'll learn today on The Sales Podcast...

Anik was recognized as Top 3 of the Best US Entrepreneurs under 25
He’s trained over 250,000 students around the world how to create their own online-passion based business.
Studied dozens of millionaires and billionaires on the secrets to success, including Tony Robbins, Mark Cuban, Daymond John, and many more.
His new booked, "eSCAPE: The 4 Stages of Becoming A Successful Entrepreneur," has already sold over 10,000 copies in under a few days since launch.
Had $100 in college from winning a Super Bowl bet
Hopped onto Google to find inspiration for how to make money
Someone volunteered to help him via an online forum and he took off
The 2008 recession came and he lost it all and was $1.7 million in debt at age 27 and in the hospital
His family mortgaged their home to help him but he refused to declare bankruptcy
Fired 90 of his 96 employees
Found his true "why"
Within 16 months he had paid back everyone
He agreed to coach someone after throwing out a crazy fee and he thought they'd kill it...
He coached another online who bought maybe a $500 product..
The first stalled, the second thrived
So he dove in to find what makes people stall or succeed
He didn't have a diversified marketing / lead generation plan
You can focus on your product line and grow
You need to have a large enough audience pool to know when and how to diversify
You need to diversify when your expense structure "becomes scary"
"Do I have a single point of failure?"
Learn to listen
"People want to be coached but they want to coach their coaches on how to coach them."
When you have less to risk you can be more aggressive
Entrepreneur does not mean President / CEO
Grew leaner the second time with a much bigger focus on sales
Now has 60 people doing $20 million
We have a purpose, not a mission statement, build a transformational home for entrepreneurs
Visualize your actual customer. Remember who it is you're serving.
His best prospects were jealous of the success others were having. The testimonials were actually hurting some of his prospects.