How to prove your business model without a business plan
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- 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
- 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
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