Scott Oldford Prints Words To Print Money

Jun 16, 2017

Wes Schaeffer

The Sales Podcast Marketing Automation Sales Training Entrepreneur

How to prove your business model without a business plan

Stream below or right-click here to download the episode.

Sales Tips you'll learn in The Sales Podcast...

Spends between $60,000 to $100,000 per month on paid advertising
Tests an idea on his personal profile
When something resonates, his head of content runs with it
The more content he produces, the more money he makes
To dominate your kingdom, you must serve your people
You enlarge your kingdom by producing more value
Spent $93,000 in January
In January 2016, he only spent $5,000
About $10k/mo on PR, some on YouTube, affiliate revenue, mostly Facebook now but diversifying
Always looking at risk mitigation
Three types of traffic
- Partner
- Paid
- Organic
At 21, he was $726,000 in debt
Turning 26 on June 16, 2017
Did $500k in 6 months in 2015
Did a couple million in 2016
May hit 8-figures in 2017
Failed three times in a row
Sucked at operations and finance, so it wasn't until he found a good #2 that he feels like he has something sustainable
If people don't have skin in the game, you probably expect too much of them
Sold his agency to avoid bankruptcy (it was pride...he recommends sucking it up, claiming bankruptcy, and rebuilding)
He was cocky, naive, and (still) young
He hated his life, but he had about $8k in monthly expenses, so he started a marketing agency in 2014 and made a lot of sales
He moved, fired everyone, and had about three months of savings
He was asked to teach someone internet marketing, but he was turned off by it
He wrote a one-page Google Document with an outline of a course he would teach and offered it to his friends at $2,000, and 24 people signed up!
That has now generated over $2 million in revenue
Lead generation fixes cash flow problems, and that fixes every other problem
You have to be willing to break things along the way
Validation is grossly underestimated
Forget the business plan. Hustle and go get your first couple hundred thousand in sales
Implement and create to have an amazing life. If you're a consumer...you're screwed!
If you're afraid of producing content, you're not learning enough
Spend four hours doing the four things no one can take from you
- Health
- Knowledge
- Meeting new people (connecting, not networking)
- Developing an audience (produce content)
Now you'll become a thought-provoker and become known for it
He can't help people at zero anymore because he hasn't been there for so long
Help those just one to two steps behind you
Own your platform (email)
Build a community, an audience, a movement, or you're an idiot
- It's the way you talk with your people
- LinkedIn group, podcast, etc
- It's more than just a lead generation webinar that you try to pitch
- Advocates are better than leads
Mitigate your risk
- You'll lose your initial ad spend
- Hustle to make the money to afford the ads
If you're making under $500k and you go to an agency, you'll get screwed just because you don't have enough of a budget
You need to understand marketing, sales, operations, financials, and culture on your team,...or you're hosed
If the right information is implemented properly, then magic can happen