When Million Dollar Business Owners Get Together

Thing you want to solve that is a, like you are here to figure this thing out or this is your primary question. This is your primary thing you're focusing on going into the end of the year. This whiteboard back here, put your name and what the challenge is so that we don't leave the room without solving that.

To think how quickly many of us go through business. What type of leak magnets or pain points do you guys have? That would be really helpful.

Looking for the best places to hold liquid money that you can reinvest in other things.

What is smart about that is you're starting to target market and what are they thinking about on a regular basis? When there's a superhero movie, right? You never have to think of the theme. It's just superhero. If we were to do this for capitalism.com, we'd be like the Jeff Sessions special, like celebrating the resignation of Jess Sessions here@Capitalism.com so you get this. No reason for the sale.

Hey, welcome back.

We got lots of that.

So where you want to talk?

Yeah, go find them.

Ages 0 to 18.

I have him in parentheses. He wrote total. Never more than six at a time. Still, that's a lot of cat.

I like cat facts.

My mom would disagree with you, but yeah.

And then what's on his mind as he heads into the final months of 2018, transforming businesses into brands?

Can we ask a question like how did the cats like cease to exist? Well, you know, it depends on lifespan.

It's a cat by cat basis, but old age, disease, and coyotes.

Okay. Hey, look, Cleveland Indians are on tv. The two junior Cleveland Indians team on Fixer Upper.

So we'll just go around the circle.

All right. So my buddy is Nathaniel, this gentleman here.

So he traveled over the past four years in a van over the US So that's. That's cool.

I like that.

And during, I think while he did that, he also wrestled. I wrestled alligators. Right. So that was me. I wrestled alligators.

Wrestled alligators. I heard him and what, you wrestled alligators? Yeah, I don't know about.

Also, Sam told me that he loves to meet people and that he finds in this sort of environment of like minded people, you can really get to know people a lot better and quicker and make the sort of relationships that are gonna last and hopefully help you grow. What's on his mind? I will tell you. He said that this has been a great and challenging year and he told me that he's focused more on personal development this year, whereas in the previous eight years he's been very business Dr. He's allowed himself the time to do something just for the pleasure of doing it and even if it's not particularly productive towards his business. Although he did say that it has probably.

Been productive in a different way. Like it has had benefits in different areas of his life.

Yes.

Okay, I'm going to present Gemma. She came here from Australia for this meeting with her sister.

She had a ballet CD that made $100,000 online without any promotion as her first step of entrepreneurship.

She's also a professional ballet dancer into 2018. She's thinking about maximizing sales for Q4 and increasing her market share. So she's focused on increased distribution and doubling down on the marketing of her existing products.

I'm Sorry, you had 4,200. You had 4,200 clicks to your website, right?

Yeah. Yeah.

And what was the total cost?

$191.

Hold on.

Who's good at numbers? $191 and 4200 guys. That is less than 5 cents a click. You convert at 10%. That's 50. And it's a coupon. That is 50 cent opt ins. 50 cent opt ins have not existed since 2009.

I'm out.

From your brand instead of.

Any of the other competitors. What is a singular thing that you can offer? Right? Your customers are going through life as the hero in their own story. Your brand is not the hero in their story. Right. Your brand is enabling them to feel heroic. I am a hero at bath time with my kids. Right. Like, that is a powerful message, right? What, mom doesn't want to be a hero with your kids? Right? And so, like, if you can answer those questions, great. But if you do, if you don't have this level, you do not have license to answer those questions.

So my business is real estate, so I. I much prefer the acquisition versus the disposition. So acquiring property, getting a good deal at a low price, if you're going to be doing a lot of content, if you're going to be pushing content out through all these various channels and stuff like that. You want to have a story to tell.

I know I have opportunity to grow some more on Amazon with what I have, but I also recognize that I really need to shift my focus and focus more on building my Shopify store. And my goal is to grow my market share with my current items to start.

What do you sell?

I'm the bath bomb lady. We do bath bombs.

The biggest aha that you shared for me was the story that you just told about baths being helpful for depression. Because that is a viral piece of content that you can tie to a squeeze page or a manychat sequence. Awesome. All you need to do is look at a.

Like a.

Stock footage video where you have, like you have stock footage. That's. What is that tool that people use to make videos of the stock footage? What is it?

There's one animoto, but then something.

Next one.

What is it?

Lumen 5. So making videos around those pain points and you'll have to make five or six.

Yeah.

And just test them. That is absolute gold. That's the only content you need to make. Because if you can show, all you have to say is like, new research, new idea, shows that taking a bath is even more helpful for depression than. Would you say exercise?

Yeah.

For years people have been saying exercise is the best. You know this better than me. And now everyone goes, huh, that's the point of content. Make somebody go, huh.

That is your only job. And you do that, you get shares on that. You can boost that and that will do wonders. I think that is your marketing play. I think that's what I'm struggling. Your audience is gonna come. Like in your world, your audience is your email list that you have driven through social media content. That content being those pain point videos going into email. And now you have a conversion mechanism.

That's your audience that is building an audience.

Okay.

Yeah.

And would you focus? What would you do for kind of your ongoing content for the people in your audience? Or is that less of a focus? Do I just focus on cold traffic.

And pain points in an email list?

Yeah, I'm thinking, like, I need to keep coming up with other content for the people on my list.

So I think the recommendation of reposting stuff on social media is good, but that's engagement that is meant to engage. Email is where business gets. You don't worry about sending content, you worry about making them offers.

And that doesn't mean that the offer has to be like, you know, 80% off every time or 20%. Like, it's. The offer can be tied into the storytelling that we're telling earlier. You can share customer stories and then.

Link it to an offer.

You can tell stories about new products and products that you're developing. You can make it like still relationship building activities. It's just connected to it.

Right.

So I'll think of it as like direct response yelling deals at them the whole time.

Correct.

That's the Uber.

How often do you think I need to do ongoing content?

Let's worry about. So you were thinking you were thinking three dominoes ahead.

Okay.

And so part of my. Our job is to bring you down here and look at the next domino, because I, like everyone else, have a tendency to think five dominoes ahead. And then you're like, fuck this shit.

And the reality is you just need to do the one domino and your one domino. This is all good feedback. And the thing you need to focus on is how you start that process. And you do that with the videos that you mentioned and maybe partnering with influencers, and then you address the rest. Then you address the rest of it.

And I got Ryan, so. And this did surprise me. So he says it would surprise most of the people in the room that my passions have changed massively in the last year. So his desire to own the Indians has lessened greatly. He's been focusing on happiness instead of growth. And he also hasn't seen an episode of Survivor in three seasons.

Never miss an episode for 30 seasons.

Wow.

Yeah. So what's on your mind as you head into the final months of 2018? Obviously, capitalism conference is coming up, so his most stressful thing that he does is obviously top of mind and growing. The new mentoring program, as well as the monthly financial newsletter for 1%.