If I Wanted to Become a Millionaire Before 35, I'd Do This

Hey there. I'm Steven Scoggins. I'm glad you're here. You know, one of the things that I'm most known for is taking a business from literally nothing scratch, homelessness all the way about as low as you can go with, with no money, no credit, no. And all kinds of debt. And then ultimately building almost a nine figure organization with just one business. And that doesn't even count several other companies that I own in my portfolio. But in the meantime, one of the things that I've really gotten passionate about real recently is helping other entrepreneurs build their businesses, helping them get started, helping them understand the basics, helping them, well, honestly take each step, bite size, to actually get a lot of momentum going and to avoid all the pitfalls and all the things that I struggle with in building a business. So with that in mind, I want to introduce you to a young man named Kyle. We are going to walk through helping him set up his first business. Now, Kyle's been with my team for a long time. He's, he's a phenomenal young man. He's a, he's a friend, he's an ally, and he absolutely has the entrepreneurial gift. And we want to set them up right, we want to set them up straight. So we're going to spend time watching or allowing you to watch myself and Kyle kind of go through the steps of setting up his first business that honestly, based on the numbers that I'm putting together, could be a million dollar business inside of a couple of years, as long as he does the right steps in the right order, in the right way. And that's what we're trying to do in this video. So if you're trying to start a business, this video will likely give you a big head start because you're going to watch me work with a young man that I believe in. I've personally invested in, personally invested in his business. And yeah, I'm excited to see what happens with it. But for the time being, let's go ahead and jump in. Let's learn some business basics on how to start your first company. Let's jump in.

All right, I'm gonna do a create new board start project. Okay. So I'm doing is. I'm gonna drag one of these diagrams over here. The reason being is because essentially what you're building now is a bit of a startup. Okay. Now you've heard enough of my content to know that there's an ideation phase, there's a sales phase, a fulfillment phase, a finance phase, and a rating fan Retention phase.

Yep.

The ideation phase. Right now because you're, you're getting started as a one man operation. So it's kind of just setting the terms of you deciding what you want your vision to ultimately look like. So I'm gonna set that. Whoops. If I get the button to work here.

At the same time, part of that ideation phase is actually setting up an entity.

Okay. And in most states, in most cases, for a sole fo, For a sole owner, solopreneur pioneer, you're going to be focused probably on escort. Yeah, you get the, you get the biggest tax benefits with an escort. The other thing I want to mention to you as well is this varies a little bit state to state, but in North Carolina and in Utah and every other place I've been, you can actually write off a portion of your part, your rent, your utilities and stuff like that, against taxes, which you cannot do. As someone who's just getting a W2 paycheck. This kind of stuff is specific for. So we're gonna, we're gonna put it over here. Tax benefits.

Okay. A lot of times you just need a basic call with.

A cpa. A lot of times those calls are introductory, meaning they're, they're free. Very subtle. Do you have to, you have to pay for it. Okay. Once you got the S Corp set up, you're going to get a. And the sole reason you're doing that is because you're getting an EIN number. That's your tax identification number. That's how you get taxed.

Once you've got that set up, the next thing, next thing you're going to start going to do is basically set up your bank account. Okay. And you would think on the surface that most banks do business banking accounts, but not all do.

Banks normally do, but credit unions do not. Not all. Well, some do, some don't. So you have to check. Okay. But you're going to set up a separate account.

Okay. Out of that separate account, what we're going to do is we're going to have one account that's called a tax account.

And that's typically going to be a money market. So because it, the money can sit there and earn money. Okay. Yeah, that goes over here. You're going to set up another account. It's going to be called your operating account. Your operator account is.

Your operating account is where your money is going to come in, come into and go out of. Okay.

Okay.

So this is where you pay your bills. So this is for bills.

Expenses.

Paying yourself.

This is very Important. Okay. This S Corp. You cannot. Let's say you get a debit card with this. With this bank account. You cannot just take that debit card and go swipe it at a convenience store or swipe it at a wallet or whatever. Okay? The reason is, is once you do that, you. You pierce the. What's called a corporate veil, which opens you up for future lawsuits. So let's say that in three to five years, this. Your. Your business explodes. Okay? You got more clients than you could deal with. You're having to hire on your own, your own editors and all kinds of stuff.

And for some reason, either a client sues you or a team member sues you, which. Either one of those is possible in business if you've been using your bank account, because that's the first thing the attorney is going to do. If you've been using your bank account as.

What do you call it? As your personal piggy bank.

Yeah.

The corporate bill is now broken. Now you're liable for. And now they can go after everything. Okay. Part of the reason we do this is not just to get the ein number. We're also doing it for corporate protection. So what that means is, is this corporate protection that you're getting, right, tactically is designed to separate you from your business. So you've got. You got Kyle the. The entrepreneur, and you've got the business entity. Okay.

Okay.

The. Whatever the business entity does, as long as you don't pierce the corporate veil, the business entity can be responsible for. Okay. And then it doesn't affect Kyle per se. It's a lot harder to get to Kyle. So let's say Kyle owns a couple of houses, a few cars, got his. Has a hundred thousand dollars in the bank. The corporate entity has $50,000 in the bank and no hard assets, but the person's trying to sue you for $200,000. What would happen is, is the. If. If the corporate veil hasn't been pierced, then all they can actually go after is the. The corporate entity responsibility. Because it all happened in the corporate entity.

Right.

If you pierce the corporate veil by taking money out of your business without actually taking what's called a draw or formal check, a distribution, then you open yourself up to that. When you take a draw or a W2 check, those two things still get money out of your business to you, but you. The money is literally being sent to you. And then you. And then you. And then you use that money for whatever you want to use it for. That make sense? Yeah, I want to, because that's super important for this, this corporate protection piece.

Okay.

I always recommend having what's called a rainy. It's not really a rainy day fund per se, but it's a savings account.

However, it's a savings account in the form of a high interest money market. Okay. So basically you let your money make money for you and you have to have a good chunk of money in there before it really starts to matter.

Right.

Before you really feel it. You know, I had a half a million dollars taking an account for about six months. I think I made a couple grand. Right. But a couple grand is a, as a new, as a new camera. Right, right. So it's just a matter of having these pieces. Okay. Now from, for the, just for the sake of discussion, let's say get this thing in my way. Let's say that all this has been done, you're actually getting business and you're, let's say you're making $10,000 a month. Okay. I'm going to put 2,000 in the tax account, I'm going to put 2000 in the money market, I'm going to put the balance in the operating account and then I'm going to take about 60% or 40% of this number to pay myself. Reason being is because at the end of the year or actually when you're getting started, it's actually better to pay it quarterly. It's actually plus you don't feel it as bad.

Right.

You have to pay the tax bill and on average for, for a startup you're looking at 20 to 26%.

Yeah.

Okay. Now the good news is at the end of the year you're as a W2. You're probably used to getting a check back at the end of the year or breaking even or something like that. With business it's a little bit different. At the business you basically take the, all the entire year, all the, everything's been paid in and stuff like that. And if you've overpaid, they have to give you, they give you money back. Yeah. Say your expenses or what the kind of. And then, then what I would typically do is take a huge chunk of that and throw it in here maybe and maybe pay myself a little bit of it.

Okay.

Okay. Now the model I built you as a one man operation that I'll show you in a couple minutes based on the data and research I've done, should generate you somewhere between 8 and 15,000amonth, depending on your capacity. Okay.

Yeah.

So with that being said, you should end up with a seven or Eight grand a month that you're paying yourself and still handle all this other stuff. Okay. So I would dump a thousand or two thousand dollars into here. This, this, let's say this, this, this account is for. Okay. I didn't quite do enough for taxes. I could take money and move it here.

One of my, one of my major cameras got dropped. Now I have to replace it. It's not, this is, this is a bit of an emergency fund. So it also doubles as what's called retained earnings, or it can be, it'll be translated into retained earnings because you, you'll pay taxes and once you pay taxes, that nobody becomes retained earnings anyway.

Right.

Not to make it overly complex, but, but that's the flow of funds. Okay. Once I got the bank account set up, the next thing I want to do is I want to have a basic web presence. A lot of times that's a simple landing page and with all the data that I pulled together for you to kind of help you get kickstarted, and we'll go over that in a second, this landing page is going to be really easy to make. It answers the problem, you solve, why you choose to solve it. Okay. How you solve it and then what's the investment to solve it. Okay. So basically that's essentially what a landing page is. And then you end up with what's called a CTA was call to action for you. I'm gonna say, I'm gonna say it's a set up a call.

Yeah.

After you set up a f. In this setup a call process. When they've, you know, because they're, these are different wedges on the website, you know, the different blocks. Right. That these pieces are here that you know, just have to be copywritten. They're not, they're not super, the, it's not super hard to write, basically.

Okay, right.

Obviously, since you've been managing my account for as long as you have, you can use me as a case study. But you got CTA call. In the CTA call, you're going to want to have something simple. It's an intake process. It can be jotform, Google. Google, like Google Surveys or whatever they call it. Google Forms.

Yeah.

Okay. I'm gonna show you what it looks like. And for your specific niche of social media, where is it? Thought leader intake. All right, so I, obviously we're working with thought leaders. Right. So I, I get all this information. Email contact information.

Preferred contact method, brand and platform. What's your brand, what's your mission? You know, what's really funny is this might actually be a good tool for you to model. I might just give you access to it.

Yeah.

Products, goods and services. Like what, what are you offering? And the reason you want to understand that is because if you're going to build a social media platform, it's not just about growing reach, it's about how are you setting them up to monetize that reach. Right, Right. I can't tell you how many people now that I'm, I'm aware of that are a list their personalities and they've got crazy reach and they have zero business.

Right.

So then you're going to go to current branding reach and then you do Instagram handle, what's your reach? Facebook, what's your reach? YouTube, what's your reach? And the reason we're doing this is twofold. First of all, we want to know what our baseline is. Second of all, let's say you work with them for a year and they were at a thousand people, a thousand followers or whatever. And at the end of that year you're like, well, how do you know it's working? Well, you're currently, you went from a thousand followers to 20,000 followers. You went from two comments a day to, you know, 85 comments a day. Right. And you gotta, you have to figure out what your metrics are and how you're going to reach, how you're going to do that. Okay, right. Combine each platform, you know, then you combine it. So their combined reach, their combined reach tells you what level of influence they have in the marketplace. Okay. And really 250,000 combined reach of actual followers and subscribers and like people that are actually like there is really the baseline of building an influence based business thought, leadership, personal development, whatever. Okay. You get over 250,000, you start, you start really getting, you get from 250 to 500,000. Now you're getting, now you're getting notable from 500,000 to a million. Now you're notable from a million plus. Now you're, now you're quote, quote, quote unquote, the A list. Okay. Which allows for book deals, it allows for affiliate deals, it allows for brand deals. Like, meaning you like you're holding up a Pepsi and like, hey, this is my Pepsi, right?

Yeah.

That's how people monetize brands a lot of times outside of just putting a funnel together. Right. Makes sense if they're, you're going to find that they don't know some of this information like average open rate, click through rate. This is all email based. I Don't know that I would focus on email just yet in, in kind of what your, your skill set's going to be but essentially we're going to create this onboarding process. Okay. So we're going to automate it and you can automate it pretty simply if we use going to recommend a WordPress environment, Elementor and then just Funnel Kit. Funnel Kit already has an automations and I'll give you, I'll actually give you a license to mine because I, I have an, I have an agency level license so I can add as many websites as I want. Yeah and it already has a built in email growth thing. Once you get about a thousand people on your email list which will take some time depending on how hard you push then it makes sense to then look at like Active Campaign and these other platforms but as of right now this is the super super simple. You're using a super simple automations like hey, thank you and I'm going to recommend your thank you as a video.

Yeah for sure.

Hey, thank you for, thank you for wanting to check this out. I'm really passionate about what I do and I'm really passionate about helping you win with your social media assets. It's one of the most changing environments in the world. It changes almost on a daily basis and it's my job to stay up to date on all the new new techniques, trends, algorithms etc but just to get you set up or call by the way I went ahead and dropped and there's a link down below this video which takes you to an intake process. It's really super important you do this ahead of our call to make sure that we get set up on the right foot. So I have time to review your platform really determine how well how I can help you and help maybe even strategize a bit of a plan for you.

Yeah and I've seen that with, seen that with certain outlets in your website. You know you have like the video at the very top star and then yep. The description stuff at the bottom and then there's the link you're putting your info at the bottom and. Yeah, for sure.

Yeah so that's, that's the, that's the simple process. Okay. And then from there you know you're going to do your call right. When you do the call you're going to spend call it 25 to 30 minutes.

Really kind of showcasing your expertise by going through their. I would do a screen share. I'm like hey this is what I found. These are the things I think we could we could. These are. This is. And I would use the term LWH hanging fruit. This is LWH hanging fruit.

Try not to beat them up with their content. Meaning if their content really sucks, just don't say, hey, your content sucks.

Oh, yeah.

So we should start. Um, but this is going to be a really. A con. A consultation. Okay. Then you're going to have 15 minutes to go over your offers. Now, I don't know if you had a chance to, to look at what I built, but. Or what I model for you, but there is a monthly option per platform and there's a paid in full option. All right? So this monthly per platform is to have. Is designed to be your cash flow. That cash flow. Move your head's in my way, so move it.

Sorry.

No, you're not. That's. You're fine. That cash flow is designed to obviously, is designed to come up here and go to your bank account.

Okay. Okay.

And then it circles through this, this thing I showed you earlier. The reason I say that is because you just. You got to pay attention.

Right?

Right. Even if you get in a cash crunch, like, it's. Rather than go and pull data, go and pull funds from your, from your tax. Your tax bucket. Obviously, the idea is I have emergency fund already there. But in the event there's not nothing there, it makes more sense to go out and hustle and create than it does to take a risk on taxes. Taxes is the only thing in business that you can't bankrupt away, you can't run away from. They will literally show up with a truck and take your stuff. So I want to make sure that's pretty clear. All right?

Yeah.

You see? So we drew. We kind of drew out the basics of the, of the ideation phase. Normally we'd have, like, if you were building a team, you have roles, responsibilities. You'd have kras and descriptions and payroll and all of stuff that's like setting up the entity. Okay. We started getting into sales really down here. Okay. So this is technically, if I take this, this, this section down here is really the sales phase. All right? Because it's. You're generating interest, you're generating a lead, and then it's up to you to kind of sell that lead. Right? So, so this is technically sales. Your fulfillment process is going to be how you obviously manage a content calendar, how you know what's going to get posted, where, and all that stuff. I, if I was in your shoes, I would lay it out. And the reason I would lay it out while I'M doing it is because at some point in time, you may want to hire some folks.

Yeah.

And it's going to be easier for you to actually look at something like this and say, all right, well, step one is we do this. And then step two is we do this. And step three was. And step. And step three, here are the places you have to go to get these links or here's the places we have to go get our passwords. You see what I'm saying?

Yeah.

That kind of concept. Right. Now part of the other part of the ideation phase is what. What I was working on yesterday. Okay. Which is before we can make an offer, we have to basically determine our expertise. So that's why I had you do that. The homework exercise was like, okay, well what is it you really want to do? And I said that because I had you doing lots of cool stuff, doing events, doing B roll, doing all kinds of stuff. And some of it you liked somebody didn't like. I'm like, well, if you're going to do something for a living, you may as well do something you love. So what do you love? Which is why I had to do that. Okay. Once we have the expertise, we have to make sure that actually solves a problem, which it does. Once we understand the problem that that thing solved, then we can start looking at the offer. Okay. Which is kind of how it filters below. But more importantly, so we build a website copy that makes sense. We also want to create an ideal client, slash avatar. I found it easier once I've got this kind of going. Once I understand who I'm selling this to and why. It's important that once I'm able to do that, I can actually create the client agreement, at least an overview. And you're going to want to refine it over time as you learn, because different states things and whatever. But that client agreement is just your baseline to make sure you get paid in your client agreement. You also want to make sure you have an ACH clause, meaning that rather than having to send that person an invoice every month and then wait for them to pay it, they're going to get invoice automated from an accounting system. QuickBooks is super cheap. It could. You could actually do it through stripe right now, honestly. And that's free except for the. When they pay. Right. So if they pay via credit card is 3%, they have to add 3%. They pay ACH or wire. Then it's. It's free. Right. There's no cost. But we want to set up a system where it goes in and auto pulls that money from them so you don't have to chase money. Okay.

For sure.

If you get a notification that says, hey, we tried to pull the money and the money's not there, you're going to have your first conversation. Hey, this is Kyle. Just want to make sure you're good. The. Unfortunately, your payment got declined this month. And I know things happen sometimes and Lord knows I've had my fair share of hiccups every now and again. Let's go. Let's go ahead and get that taken care of and make sure that happened. You allow them to have. You allow basically one grace period before you kind of like decide whether or not you want to stop services. Right. Okay. I would always get one month in advance because you're creating content to that one month. Right. So, right. You get the payment now, you start filming now, you start editing now, but you don't release the content until the next month. So basically there's a one month onboarding period. And the second month is the, is the, is. Okay, now we're, now we're taking action now. Now.

The argument for you is I'm gonna go, I'm gonna go create it all, I'm gonna batch it all, we're gonna segment it all. And part of that is now that we got all that together, now we're. And I'm gonna do that. It'll be a rolling month. It also, it also builds a little bit of need.

Yeah, right.

Because they're like, okay, well I got this month. He's got, he's already got my other stuff done. Crap, I gotta pay him really. Right. And I'm not saying people are gonna hoodo you, but you're gonna, you're gonna run into people that are gonna try to take advantage. You know, just, it's.

It's business.

I have that happen now and I actually know what the hell I'm doing. Like it just. So anyway, so basically the cl. You want make sure the client agreement states that you're going to get paid via achievement or automatic draft. Okay. So just so it avoids you having to chase money. And again, that money is going to go into the operating account. Okay. And then from the operating account, you will manually move it to these accounts. Takes you 10 minutes.

Now for the. When opening the bank accounts. Well, I have to worry about like an LLC or having that with me. Just.

That's what I, that's what I said. This, this entity, this S corp, that's the first thing you're going to do.

Okay.

And you can, you can, you can literally Google online, set up a, a startup S corp in Ohio, for example, and you'll have a couple different options. It might be a few hundred bucks.

Okay, that's not bad.

Okay. At some point in time, maybe one year, one year removed, you'll want to have an actual attorney in Ohio review your filings to make sure it's, it's ironclad, but that at least gets you an ein number to get you going.

Right.

Okay.

Okay.

Keep in mind you're gonna have, you're gonna have a federal tax bill and a state tax bill.

Yeah.

Okay. The escort prevents you from having to pay all kinds of extra taxes like FICA and all these other different things that like. So if I hire somebody at call it $50,000 a year, they actually cost me 70 because all the time, all the extra bloatware that gets put on the, on the salary.

Yeah.

It's another reason why, especially in startup phase, it's, it's, it's actually a lot wiser to have contractors until you get to critical mass where you have to have an internal team day to day that reports to you like in the minute.

Right, right. The.

But you got the ACH clause here. Okay. So that's the contract. All right, so now I'm gonna go to this. So what we did is we wanted to determine. Okay. Before we ask them to pay anything, we have to tell them what exactly we're going to do. Okay. I used the homework assignment I gave you to create a basic template of a comprehensive social media service offering. So what is the purpose? Well, we unlock your brand's full potential with our expert social media services does designed to create strong online presence, foster meaningful connections with your audience. We offer market rates and deliver exceptional value for those services. You can tweak this. Okay. You don't have to say market rates if you want, but I went and actually searched figure out what the market rates are for contracted services in this area. I used, indeed, I used pay scale. I used Google, just straight up Google searching for different job applications I could look at and refine. So community management, all right. We're going to build strong relationship with brands. We're going to foster a sense of community and loyalty. We're going to engage your audience with personalized interactions. Now some of this is you coaching them doing lives and reels. So let's well supposed to put here coaching thought leader. I know you said you wanted on paper. I think you're gonna be blown away by the time we're done coaching, thought leader on best practices to build community.

Cool. Cool.

Content strategy. This is where their avatar, this is where you understand how an avatar is created comes into play. All that data they gave you, literally you can jump, you can drop all that into chat GBT and say chat gbt. Build me in a, a detailed avatar for this segment, for this, this person. It'll go and scrub the thing and then it'll literally spit out. It spit out an avatar for unstoppable startup in detail in three minutes. It was insane.

I've almost, I think I've almost mastered the way to like talk to chat GPT. Like, if even you on Instagram, there are certain people that like, they'll tell you like, talk to it specifically like this.

Yeah.

Like, it'll give you the best. It'll give you spit out the best answer, the best descriptor for you.

Yep. Well, then we got content strategy. Right? So we got, you know, going to create the content strategy. Video editing. Okay. Now you got to decide if they're local, obviously you can go and film and maybe you charge a fee to film.

Right?

Okay. And then edit. If not, you got to come up with your process on how they're going to get you the footage for you, for you to edit to begin with. Okay. And it could be. May you make them get on zoom. You, you're over here and you hide your camera. You kind of get them in frame and you say, okay, give me X, Y and Z. Go. Yeah, start recording. Stop recording. As soon as that thing's done, you export the video.

Yeah, okay.

But you gotta come up with that. Okay. Brand awareness. This is where if you want me to take a look at somebody's brand to see if there is remotely close to being cohesive, I can. You've now seen enough brands where you know what should look good. Right, Right. Because incohesive brands do not do well. Right. So trends. So who's it for? So this is the ideal client, apparently. His name is Alex Thompson. Thanks. Chat GPT 35 to 45. I did, I went here and it said male. I went and changed genders to all because I think a lot of the folks that, that you'll probably have in your pipeline are going to be 50, 50 female, 50, 50 male, I think. And then I did occupation, founder, CEO. Midsize E commerce brand, C suite, professional influencer, YouTuber. These are just people that want to have an influence of influential presence.

Right.

Major cities, so florid. Orlando, Raleigh, Salt Lake City, Louisiana.

Southern Chicago, New York.

Chicago. Yeah. So major cities. Right. Because they have a high, they have a high density. Any, any city that has a high density typically has money in the city. All right. So after we kind of understand the income level, they have to be making about $75,000 a year for them to pay you and not really fill it. And that's if they're managing their money well. Okay. Ideally they're making 100k plus it originally spit out single. However, everybody that I know that could be your pipeline is either married or in a significant relationship and has children. Okay. These are, these are people that have already done some stuff in life and want to leverage that stuff for, you know, an impact in theory or for a greater income. Right?

Yeah.

They understand the importance for digital technology. So they're also kind of watching social stuff and whatnot.

But they also don't, they also are like me, they don't, they don't have that. They don't have the time really to focus on being the quote unquote widget part of it.

Right.

Like the mundane. If I have to post my stuff every day, like I'm gonna go insane. I'm just. Because I'm, I got like, I'm trying to build billion dollar relationships, like.

Right, no, I get that. I got that.

Anyway, so I was kind of going through that.

But they, they do have their, they're ambitious, they're driven, they're creative, they're visionary, they're data driven decision makers. And this is important, right, because they can be all of these things and they're going to be all over the place.

Yeah.

If they're these things and they're data driven decisions makers, they're, they are entrepreneurs.

Right.

They have a, they have a strategical and a critical thinking mindset and they value quality. Okay. Because as it stands right now, you're not going to be the cheapest, but you're not going to be the most expensive.

Right.

You're gonna, you're gonna, you're gonna give them the most value, value for the end, for the investment. The goals. They want to establish an online presence. They want to increase brand visibility, engage, build loyalty, leverage high quality content to drive sales and business growth, stay up to date social media trends and technologies, challenges. They have limited time and resources to manage their stuff. That's me. Difficult in creating consistent, high quality content. I can be on camera, but I don't know how to, I don't know how to edit to save my life. Yeah. I'm definitely not paying attention to the Algorithms. All I typically do is forward stuff to you like, hey, I don't know if you're watching this, but this happened, you know. Yeah, they, this is more important. They need to have a professional video lens. Right. Because almost all content is going video now. So in general that's what people connect to. Look, balancing customer engagement, other business priorities right there. So that is a. So these are. All right, so here's what I'm going to recommend. Once you have this, I've given you an overview of how you need to put it together. You got a little work to do. But Sarah, our, our, our, our copywriters currently on maternity leave, but has turned over a couple of copywriters to Natasha for her for them to do some work for us while Sarah's out. Everything that you have right here is exactly what they do. What they need to build a landing page copywise. Okay.

Yeah.

Outside of whatever your brand voice is going to be. So you have to make some do a little work on who Kyle is going to be as a brand. Right. So. And you know, your goal is to become a master social media strategist at the end of the day. Okay.

Right.

Because you don't, if you want to build a business on this, at some point in time you're actually going to step away from the computer. You're going to have people that are doing the computer stuff and you're leading them and looking at it and editing kind of that original vision I had for you with Skoggins where look, I want you operate, I want you to have a Twitter person, an Instagram person and so on and so forth. Right. And who's to say we don't just build that anyway?

Right.

We just build it as your business and.

Right.

Just contract you for all of it. You know what I'm saying?

Exactly.

Values, Professionalism, Reliability, Innovation, Creativity. Customer satisfaction, Loyalty. Super professional. I'm going to recommend that starting on your first sales call that you come in looking like a professional.

Right.

Some of the folks I'm going to connect and kind of move into the downline, they're already nine figure earners or better. Some of them are seven figure earners, some of them are less than that. But I want you to always be prepared because you're not. I may or may not have time to tell you exactly who's coming. Right. You know, you'll be able to do some Google search and especially with the intake process, etc and what I'll do is I could co brand an intake process that automatically gets sent to you that way it's the same intake. They're just coming through the unstoppable lane.

Right, right.

All right. Preferred communication channels Email detailed update supports. This is where you're going to want to start showing screenshots of graphs showing engagement. Hey guys, this, we, so we did this stream of post for this week. This is, you know, this is all the data that came out. This is what we learned. This is how we're adjusting. And maybe you make that a weekly report that you do for each brand probably takes you. It would probably take in all day. It's probably an all day thing if you have six or seven brands.

Yeah.

Okay. Additional pain points. Inconsistent social media presence. Low engagement difficult. This is, I'm still struggling with this. Having low engagement rates despite having substantial follower base. And you know, we've already ran my stuff through Social Social Blade and my, my, my ranking is actually fairly high, meaning the vast majority of our followers are real. But there, I mean you can, you can research and say okay, what is the, what is what's called, oh, what do they call it? Industry standards. So what is the industry standard ratio between followers and engagement is a ratio. Right? That's. Some things perform really, really well, some struggle. But anyway, difficulty creating engaging content Trend analysis thing ahead of social media trends. Create resonate content. Etc. Okay, so this is kind of where we start getting into a bit of the website stuff. So how it works. Step one, they commit to the platforms they need help with. Step two, they choose the plan from you that is related to that and then they watch their reach grow. Okay so this is get started. This is take the next step and this is watch your success. Okay. The third step is always their success. Time proposed. And so and then we work on a, and that you wouldn't show this on a landing page. This is something you would discuss with them. Kind of like a consultation. Well all right guys, so the re. Here's the, here's the industry averages the time on the time it takes to do a post. It's, it's about an hour to create, schedule, engage each post, copy all of it. Okay, If I do five posts a week, one hour per post, that's five hours a week. Weekly cost is about five hours. 35 bucks an hour is 175 a week. Monthly cost is 175 a week, four weeks, 700 per month per platform. And we're act. And this is legit. Like they go Google this and like oh, oh hey, okay, he's actually being legit. He's actually saved Me a little money. And this is kind of the same. It's the same math. And then what we did is a 12. They have to do a 12 month commitment. So you're going to sign a 12 month agreement so you can kind of guarantee your cash flow. And we're going to say 650 instead of 750 savings per platform per month. And then. So if they have six platforms, it's 650 times six. If it's two platforms, it's 1300 bucks.

Yeah.

You see what I'm saying?

Yep.

And then they can pay this month via ach. So we do via, via automatic draft. Because what's going to happen is, is somebody's going to get on a call and they're be like, well, I don't really want to do, I don't really like to do that because, you know, they're not your client.

Right.

You, you want people that just want, that honestly want to set it and forget it. I'm happy to pay you. I'm not worried about it. I'll put it on. I'm putting on a reoccurring model. I just don't want to have to freaking think about anything. I don't have to think about like, you tell me what to say, you tell me what I need to do, I'm gonna jump on camera and do it. I send you the footage, you do your thing, make my stuff grow, period.

Right.

Right. You're not looking for the person that's kind of half in and kind of half. Well, you know, if I have a bad month, next month and, and then I do this and yeah, I don't. They're not your client. That's okay. Well, it does. You know, I appreciate everything you're saying. It doesn't sound like a good fit. This is my process. You know, we, you, you know, I'm actually happy you got in because there's actually a bit of a wait list now that's, that's, that's kind of growing. So if something changes, you know, feel free to let me know, but this is how my process works. Done. Welcome.

Yep.

Welcome. On to the next one. You know, ideally, if you can get seven to you get six to ten clients, dude, you're making bank. You're busy as hell and maybe about some stuff, maybe you don't, I don't know. But, but you're doing what you love. You're doing it a lot.

But you're also making bank. Okay. And the idea for me is if I'm in your shoes, I grind it out for 12 to 18 months, like you've heard me say a thousand times, and then start thinking about, okay, how do I take this resource now I got and actually like use it to.

Scale, like take it to take it to the next level, basically.

Well, when you say take a next level, there's, there's two ways. There's take the next level. One way is, okay, a portion of it gives me a higher income. I have zero debt now, so I have a lot more cash to do to go and do some fun stuff and maybe look at buying a house and all this kind of stuff. There's also the part of the process is where I take a portion of the money. Okay, where can I put this money to compound it while I'm sleeping?

Right.

You know, the e. It's like level one is like a money mark, a savings account. Level two is a money market. Level three is a mutual fund. And then you start getting into other things from everything from real estate to like all kinds of stuff. Yeah, you've heard me tell you before that most of my wealth is actually tied up in real estate. Like I have as much wealth in real estate as I had in my exit. What it just takes time, right? And you, and these are, you have to understand, like I would be studying on my off time now, things that excite me, like real estate. I understand real estate, so it excites me. So I mean, it's easy for me to invest in it.

Right? Yeah.

When I, when I say take it the next level, that's. That's it. So step one is earn, step two is get is get debt taken care of completely get it. Just get off your plate and never do it again. And step three is taking the residual money or the, what's called the overflow money and then actually putting it in a place that makes you more money while you're continuing to make more money. So then you have an active path, an active income stream and a passive income stream. And you compound that and it'll take you about 10 years. But 10 years, you're, you're not even, you're barely 30.

Yeah.

And you're making bank. I got you a client service agreement down here that I made that I kind of made for you. You can tweak it as you see fit. I did not put the ach thing in here. But you, you always have an element says these are the services I'm providing you. Some of this you could take out of here. Like you take out how it works, but they do need to select. You can take out this. So basically let me just do that.

Platform investments.

Per month. One platform per month. Okay. And then.

We do Whoops via Achievement Wire.

Actually we're just gonna make it super easy. The automatic draft.

The automatic draft annual pay discounts. So again the annual pay discounts is just so to get you some cash because let's say you have four of those clients. Like yes, I need three platforms. Where's my. All my phone's up there. I need three platforms. That's 1950amonth. That's $6,000 a month. If I save 10, if I save 10%, it's. You're going to make $5,400 a month in the. In the equivalent. You see, I'm saying.

Yeah. Now for.

For like longer form content. Like if someone wanted me to do like their YouTube channel, would we want to do a different pricing standpoint on that just because it's longer? It would probably take probably longer than. The good news is.

The good news is you can. I will tell you that I have options for YouTube long form content that take care of my entire YouTube channel for three grand a month. So there's probably a sweet spot. But because you have this up here, this math, you can justify your math. Right? So if it's. So if one YouTube post is going to take you five hours, five times 35 would be 175. You see what I'm saying?

Yeah.

175 per week per post. So you've got the math.

Yeah. Oh yeah, that makes sense. Yeah, yeah.

And you can always take, you can always change this to be short form.

Social.

Platform.

And you can turn right around and go down here and do a long.

Long form.

Content platform, which is what YouTube really is.

Yeah.

Okay. And then just come in here and figure out what that math is going to be.

Boom.

Okay, cool. So right now these need to be blank. Right?

I just wanted to bring it up now before I forgot.

And yeah, I mean, yeah, you can. You do whatever you want. Right, Right. You just want to make sure to get started. You are going to be trading, trading time for money. Okay.

Right.

As you grow, you'll be trading strategy for money and then passive income for money or passive efforts for money. Okay. It's just a process. Everybody wants to come out of the gate. I want to have just passive income streams. I go sit at the beach all day. It just, it doesn't work like that. People that actually. People that actually build businesses grind like for they. And they commit to grinding for, you know, extended periods of time. I think I've told you before, when I started Che, I took I four and a half, almost five years before I ever took a, I had to, I didn't take a single day off. Not a Saturday, not a Sunday. I had zero social life.

Right, Right.

But I had a, I had a big ass hill to climb. Right. I was a homeless kid. No money, no, no cash, no debt. Couldn't, I couldn't borrow if my life depended on it.

Right.

I had to find a way to hustle the money I needed to kind of get things moving and growing. And then, then it, then the business over time began to take care of me. Right. So, all right, so now we've got the agreement, we've got the ACH clause. Clients now pay. All this is known as cash flow. It's actually known as a couple different things known as revenue, which is different than profit and cash flow. Out of that revenue and cash flow, you're going to have expenses.

Then maybe, you know, maybe it's a tool you're using to help you generate content editing software. Adobe for the Creative Cloud, for example, is an editing software. Right? So there's a cost to that.

There is your utilities, there's your, believe it or not, you get, if you're running errands with your car and you're tracking the mileage and what you were doing, you can actually write a portion of that off as well. Basically, as a business owner, you can write a frapload of stuff off.

Right?

Because it's the cost of doing business. The way the government looks at it is, well, if they're using it to generate money, which helps us generate taxes, it's okay, right? But we want to make sure we can prove that that happens. Out of the expenses, you're going to have taxes, which is a different type of expense. Okay. Out of these two, then you're going to have what's called at the end of the year. And this is in its most simplest form, net income. Net income is business income. Okay? So let's say we generated a hundred thousand dollars of cash. We had $30,000 of expenses, $10,000 of taxes. The net income for the business was $60,000. Okay? Of the net income of the business, one of these expenses over here is going to be W2 pay for yourself and then also draw pay for yourself. Now I'm going to recommend, and you've heard me say this publicly long before we had this conversation, that for the year one and two, you do what's called a minimum living wage. So you have, you, so you put money back into your business to make it grow.

Right?

Think of your business a bit like a, like a fire, right? You want to make that, that fire as big as you possibly can. And every time you get a transaction with a client, you're getting a piece of wood, right? You take a little piece of wood for yourself and you throw the big ass chunk in the fire. It's an accelerant. Right. That is a standard and a rule that 99 of the entrepreneurs get wrong. They start making money, it starts happening very quickly and they start spending it like it's going out of style. They don't pay their taxes, they buy stupid. They, they don't, they, they actually starve their baby. They starve the child.

Right.

They don't have the resources to keep the thing growing and eventually they go out of business. And it's a very painful lesson to learn. So this draw for self can never exceed.

20% of business net income. Okay. That leaves 80% of the net income in the business because this W2 pay comes, comes off the top before it even calculates into net income. Okay. So in this case, if you had $60,000 of net income left over, then you would take 20 of that out for yourself as a distribution. Does that make sense?

Yep.

There's two ways when you go into business for yourself, there's two things you're doing. You're either going into the business with the concept or the, with the, the drive to create a business, or you're going into it to the business just to create an income. If you're going in to create an income, then you're not going to create a business because all the income the business creates, you take out.

Right.

And if you're not using it to pay down debt and like get yourself in a financial place and of security and all this kind of stuff and just spending it, not doing stuff, you're, you're doing yourself a disservice.

Right? For sure.

So this is basically Startup101, right? This whole little map. Okay.

Yeah.

Now that you have these clients that are paying you money.

We want to create what's called a fulfillment plan. That's you executing on making sure that you've got like how you're going to, how you're going to do it, how you assure them, basically. So that's how you're reporting what you're going to do. Then that needs to be a process. It needs to happen like clockwork. The worst thing you can do with a client is they do all this even though you're doing your job, if they don't see elements of you doing your job, they're going to assume you're not doing your job.

Right.

So the best way to, to, to prevent that is to constantly be telling them, this is how I'm doing my job. You also want to have what's called a raving fan retention plan. You've heard me talk about that before.

Yep. All right.

That raving fan retention plan is thank yous, like cards, videos, birthdays, holidays.

Send them a mug, you know, with some cool little slogan on it, you know.

Yeah.

Here, enjoy a cup of coffee on me. While your social media grows. Right. That's an expense, but it creates an experience.

Right.

How can you turn an expense into an experience that creates more money referrals? You know, if somebody, if somebody refers, somebody's going to give you six grand a year to do, you know, one or two platforms or whatever it is, or whatever the math is. Yeah, it makes sense to give them 5% now. Here, I'll give you a 5% referral fee.

Yeah.

You see what I'm saying?

Yeah, for sure.

Right. These are just basic elements you do. If you do these things in here and let me do this. But notice we started over here at ideation.

I mean, you did this, you, you basically did the same thing when I, when I first got started with you, when I told you about on top. I mean, this is basically you kind of laid out like it, you kind of laid it out in this kind of like graph form, like so quickly, so.

Well, again, it's because it's, it's, it's how you build a machine.

Right, Right.

So now you have.

Ideal clients built. You can tweak, you can tweak it as you see fit. Look at all the people you're serving. Look at all the problems that I'm dealing with, with, with growth and notability, like all that stuff. So you've got, that, you've got an offer structure in place that's, that's, that's generated by market prices. So it's not a shock to anybody's system. You have an overview of a business plan to get it created. So all you have to do is go to step one of that ideation phase and go and go work on getting your entity created. Okay. Entity bank, website, Take, take, start taking cards.

Yeah, cool. Perfect. Cool.

Actually, technically, one more step. We need to get the copywriters to, to get copywriting. They can take that document that Word document that we, that we built, you can give that to them and they can create a landing page from that. That's how, that's how clear that data is.

Yeah.

So cool.

Perfect. Cool.

Excited.

Excited. Again, I appreciate you doing this for me. For real.

Of course.

Much appreciated.

You know me, I like early stage entrepreneurs.

I'm good. I'm getting there.

I know you are. I just, you know, it's funny. You actually have the, you have, you have the skill set to do it, so I'm excited for. Yeah, really amazing.