How to Grow a Million Dollar Business When You’re Afraid to Lose Money

So what's your girl's name?

Amelia.

Amelia, yes. So you're in defense mode for her because you don't want to risk what you've got on the business, right? And the thought is, well, if it all goes to hell, I'm a bad dad and I gotta protect my family, right? Is that right?

Yeah.

Okay, cool. I got it. I got a three year old tonight. Totally get it. So how much would it cost, do you think, for you to take this from something that's doing a few hundred dollars a day to a few thousand dollars a day? Like, what do you think it would. Where would you spend the money in order to go faster? Thank you all for.

I love you.

Leave you.

I. I think we have to talk because I listen to your podcast and I know that you're coming.

I'm gonna get mobbed if I don't escape.

Yeah, yeah, yeah, I know, I know.

Come. I know. Okay. You.

Dad, you shut the door. You're the last one. Sebastian.

I'm leaving.

If anyone asks, we're not here.

And I sold around 200 products. Good first days. And then I received.

Emails, reviews for them. So everything you are teaching there, it's extraordinary.

Did you capture that shit? Did you hear that? That's a Facebook ad right there.

Good. Possibly anywhere.

What's stopping you from ramping that up? Think my time.

I think my mind.

All right, let's. Let's fix that. What's in your mind now?

In my mind, I see only my baby girl.

And I don't. Maybe the way I go, the way that everything I see around myself without a lot of money and I.

You're in. You're in defense mode.

Yes.

You're in defense for your baby girl. What's your baby girl's name?

I have okay money. I can live. I have enough. My mind, it's telling me that I'm fine.

Okay, so what's your girl's name?

Amelia.

Amelia.

Yes.

So you're in defense mode for her because you don't want to risk what you've got on the business, right? And the thought is, well, if it all goes to hell, I'm a bad dad and I gotta protect my family, right? Is that right?

Yeah.

Okay, cool. I got it. I got a 3 year old. Totally get it. So how much would it cost, do you think, for you to take this from something that's doing a few hundred dollars a day to a few thousand dollars a day? Like, what do you think it would. Where would you spend the money in order to go faster?

I think that I should spend more on social media, on our fans, on our maybe YouTube ads. I never done YouTube ads. Maybe you. To create content, to create value for our.

So let me make this super simple for you. Where are the sales coming from? Right now only Amazon. From pay per click from organic. Okay. And where did those sales start from? Do they come from an email list?

No, now they're coming from searching Amazon. I have to.

But so you had those orders that happened at the beginning where you were selling a few hundred within the first few days they were coming from where?

I think that from our community first and then increase in ranking and start from.

So the community is your Facebook group, right?

Facebook group is short. I prefer. Yeah, Facebook group, but not ours. Different Facebook group. Yeah, Yep.

And. And your community is what, an email list?

Yes, email list, but.

And then. And they come from where?

From our website.

And those people find you how?

Inserts.

Inserts and packaging products.

Yes.

For ebooks and other things. Right. Okay, great. So what I'm hearing you say is most of the heavy lifting came from you going to Facebook groups and getting them to post about you or you saying, can we post about our product? That's how you got that lift to get to the first hundred bucks a day or whatever it was. Right? Is that right? That's free.

So you don't need to go run YouTube ads. Facebook, all that stuff is great. I would encourage you to go spend 10 bucks a day on Facebook ads to promote the ebook, to promote your product.

You can afford 10 bucks a day.

Of course.

Right. But even if we didn't do that.

Facebook groups were free, man. That's right.

That's right.

So go do that a few more times and get the wheel going even faster.

New groups and new groups related.

And then maybe you have your own group, which gives you the audience plus the email list to go to product number two when you've got that 25 sales a day on this first product.

I already have six products.

Yes. Okay. You have six products. Okay. I want you to pick one of them, your best selling one with good profit margin, the one that's making you the most double down on the one strategy that got you to that point, which is probably the Facebook groups.

Build your own Facebook group, launch it to your email list, go to more Facebook groups until that product's at least 20 sales a day. And that's going to happen quickly if they're leaving reviews. And your job free is gonna be a love on those people. Reply to every comment, send them personal thank you messages. Reply to their.

Facebook Messages or their YouTube comments, their emails that come back to you. Like, just if you're afraid to lose the money, then just kill them with kindness, grind your way to those 20 sales a day. Then we've just multiplied that product success. Now you do the same thing on the next product. But the good news is that Facebook group is a lot bigger now. Your email list is bigger now. You've got more momentum and you have all these raving superfans from you replying to emails, you replying to Facebook messages, and you being interactive in the Facebook group and they're telling their friends. And you did the work we talked about on stage. You had 10 personal contacts talking about you. Now you've got the second product moving and it's doing 10 sales a day or 20 sales a day. Now we've got a business that is doing like four or five hundred sales, four or five hundred dollars a day in sales. And at your profit margins, that's, that's enough for you to be like, I think this might be a real business. And then you draw on the third product and the fourth product and then you've got a million. Then you've got a million dollar business.

The products are very good, selected. There is a high demand on the market.

So it's going to happen even faster for you. I mean, then you'll have a million dollar business a year from now. Less than.

The good part is two products are consumable. And I see that I have customers who bought me around 15 products, 15.

Orders in, around, dude, call those people, write them a handwritten note, message them on Facebook. Those people who are super fans, go get them and get more of them. Find out what stood out to you about them. Are you more excited than you look right now? Okay. Because I'm excited for you. I mean, you've done all the hard work.

Yeah. Yeah, that's good. And maybe, you know, that I have to.

I don't know. I think that I have.

A block in my mind which I have to.

And what is that block?

I have to find out. Where is it exactly?

Well, is the block that you're just not doing the thing that you know is going to.

Yeah. Or maybe it's scared that I was gonna have a million dollar business. I don't know. I have to think about it.

You're not scared to have a million dollar business. You might be scared that the million dollar business will be more work than you're willing to do. I mean, yes.

It might be that you're afraid that if you make money, people will think you're an asshole because you're rich.

That might be. But you're not afraid to have a million dollar business. You want a million dollar business, but you have some sort of a. Like there's. You're not afraid of a million dollar business. You're afraid of pain. Yeah, right.

I think that it's a pain that I have to deal with it.

I don't.

I have days with $4,000.

Okay, you have days where you do three or $4,000 in sales. And how do you feel when that happens?

So what would be preventing you from doing that more often?

I don't know. I have trademark infringement, closed listings.

I see. So you're afraid that if you go bigger, more of those problems will happen, and so you'd rather stay in defense mode.

Got it.

Maybe I have to define better my goal and nothing to stop me.

No, what you have to get good at is realizing that the bad stuff is gonna happen.

You know what some people tell me is the best thing that happened to their business the first time they get suspended on Amazon.

That's right.

Because then they're like, oh, it finally happened. I can move on now I can deal with happened, and now I can move forward. It's like, once you fail, once, you realize it's not that bad.

I've had so many projects fail. I've had so many haters on YouTube and Facebook. I've had so many people say, more like, ryan Moron.

I get all that shit, right? And the first time it happens, you're like, what if I suck? And then the second time you're like.

This happens.

Like your. Your biggest fear is it happening once. And as soon as it happens, you realize, this ain't that bad.

So it's bigger in your head than in reality.

Totally. I mean, all fears are.