As entrepreneurs, we all want to pull ourselves up by our bootstraps. 💪But we must invest, and invest wisely, in ourselves in order to become financially successful and stable entrepreneurs. 💵 Toward the end of my conversation with Alex S. Elliot, I asked her what she’s learned from investing in herself. 💰See her words of wisdom below, and check out the full interview in my Facebook group!
When it came to running her business, Alex knew that she didn’t know enough. She reached the point in her business where she knew she had to learn from those with more knowledge in certain areas. 🧠
The question that she asked herself that made her first invest with a Facebook mentor was this: How would she differentiate herself and create something that hadn’t yet been created? ✏️
She wanted there to be enough difference and distinction that she knew she wouldn’t get it by studying one person’s material. For Alex, she realized she had to DO something different to GET something different. 👩💻
There’s something about spending money to invest in yourself that makes you deadly serious. 💸🤓
The power of mentorship and investing in yourself is real. You HAVE to be sure who you’re investing with - you need to align with their values and they need to do the thing you want to do. 🤝If not, they’re not the right person for you.
Again: if they haven’t guided others to where you want to go, they're not the guide you need!
When you hire a mentor, you buy their mistakes. You let them compress the time to success for you. Finding the perfect mentors takes research! Do your due diligence - look up the folks listed in their testimonials. Ask questions before you invest. 🙋
Get out there and invest in yourself wisely! You deserve investment AND the success that comes from a good investment! 🤩
Last week, I shared the wisdom of Alex S. Elliot on Facebook groups, as well as her personal story. This week, we’re back with more Facebook group gold! 🙌
Every successful Facebook group goes through three stages:
🏆Stage 1: Attraction (you need people in your group)
🏆Stage 2: Engagement & Service (you’ve got people...what do you do)
🏆Stage 3: Monetization
Facebook Group TIPS:
Be very clear on your name and your target audience. 🙋 You can change your name regularly (once a month, every few months) while your group is still small if you’re still exploring the best name for your group. When you get to 5,000 members, 🙅YOU CANNOT CHANGE YOUR GROUP NAME. 🙅 As you approach 5,000, really ask yourself if that’s the name you want to have forever!
The best way to stand out is to be a big fish in a small pond. 🐟Niche down!! It’s a lot easier to become a big fish in a small pond and then leverage your power to expand your pond than it is to pick a huge pond and ever become a big fish. People can only be an effective member of 5 groups. Make sure yours is one of their five! 🥇
When you’re attracting, a lot of the work happens outside of your group. You have to go out into the world (and Facebookland) and attract people to your group. One great way to attract people to your group is by creating a Facebook Profile Funnel (Zeky Ahmed has a GREAT video on YouTube about this!)
If your group is dying and you need to take it from Facebook Funeral ⚰️to Facebook Fiesta, 🎉follow Alex’s 3-2-1 90-Day Reengagement Strategy:
🤩3 pieces of content per day (this can be original content or shared content)
🤩2 pieces of engagement per day (people tend to respond best to binary questions!)
🤩1 live every day (M-F)
Alex believes so strongly in her method that she’s certain that if you follow it for 90 days, your group will be as engaged as high schoolers in a cafeteria food fight! 😋
The tenor of the group is only as good as the tone you, as the group owner, set. When you take that ownership and do something about it, you can see amazing results! 📈
Use group insights to guide everything you do, from the time you schedule posts 🕒to the kinds of posts you create.✏️
There are some exciting new rollouts coming through Facebook soon that will help entrepreneurs like you leverage their groups and audiences for even greater success:
🌟The ability to select Facebook groups as custom audiences in the ad platform
🌟The ability to boost a post in a group with an ad
🌟A higher focus on groups, messenger and stories from Facebook itself!
Have you dreamed of becoming a digital titan? 💪 I recently had the opportunity to talk with Alex S. Elliot about creating a world-class online brand that can launch your business to the next level. 🏅
We’re in it for more than just the money. 💰We’re also here for the incredible impact that our businesses can create in the world. 🤩
Alex is a recovering nurse practitioner who got tired of the healthcare grind. She knew there had to be a better way than spending 12-hr days at the office and then spending whatever energy was left on her online business. It took her years to stop treating her business as a side hustle and start treating it as the business it was. 💻
In a way, Alex was forced into making her choice when she did. The clinic where she worked announced bankruptcy, and overnight, she lost her job and her income security. 😲Her decision was made: never again would she be dependent on somebody else for her income. In Alex’s words, “Sometimes, desperation can be a gift. The challenges and obstacles we face can be a gift.” 🎁
Now, she’s fully online. 👩💻When she launched her online business, she started with affiliate marketing and studied the principles of the One Funnel Away Challenge, where she truly came to understand the value of connecting your tribe and people with daily content.
But success did not come in a straight line. It looked more like a spaghetti bowl, 🍝 but with her Pinterest marketing agency she started to gain traction. A couple of months in, Alex’s mom suffered a serious accident and needed all of her attention to recover. She knew she had to make it work. And with the help and the push of her other half, she did! 🏆
When you think you’re done, you’re actually only at 40%. You’ve got 60% to go, and it’s only when you’re tested that you realize that you have more to give.
Alex says, “Entrepreneurship is an amazing personal evolution that masquerades as the game of money. 💵We think we’re playing the game of money, but we’re really not. We’re playing the game of becoming. It’s so powerful!”
Once she was working fully online, Alex began to look around at the people in her niche and realized that all of the successful people had a functional, vibrant Facebook group.
A Facebook group is actually two things in one:
🙋A high-converting sales funnel
🙋A living, breathing list
🌟A Facebook group is a high-converting sales funnel. When new members come in the door, you ask screening questions. That’s their opt-in. You get their email address in exchange for a lead magnet, so they’re entering into the top of your funnel. You’re building know, like, and trust factor through your group engagement, and at some point, you’re going to make them an offer.
🌟At the same time, a Facebook group is a living, breathing 3-dimensional list right in front of you that you can engage with in real time. You have a direct line to your people without worrying about ending up in a Promotions box and not being seen.
When it comes to Facebook groups, KEYWORDS ARE KEY. 🔑 To create an effective attraction machine, you need to think of your group as a platform running off of SEO. Facebook is, at its core, a search engine, and all search engines run off of an algorithm that examines keywords. 🔑
Keywords are empathy in action. 💓 When you use the right keywords for your target audience, you are understanding their intent and their needs and meeting them where they are. When building a Facebook group, use keywords everywhere. Fill your group’s architecture with keywords - in your unit sections, in your posts, in your descriptions, etc.
Make it easy for people to find you - they’re hungry to find like-minded people to explore their passions and questions!
👉Catch the FULL interview in my 💥Facebook group 💥: https://www.facebook.com/groups/lxibu...
And make sure to:
✅ Grab Alex's 🏆How to Launch Your Facebook Group Checklist 🏆 here: http://tiny.cc/alexchecklist
✅ Join 🤩Alex's One Group Away Challenge 🤩here! http://tiny.cc/onegroupaway
✅ Join her group at 🌟Digital Marketing Hacks for Online Entrepreneurs 🌟(DMHoes) here: https://m.facebook.com/groups/DMHOE
✅ and get her amazing gift of the Facebook Omnipresence Formula here 😍: https://youtu.be/-6-_Lyl-QrA
Everyone loves a personality test. 🤗 We’ve seen so many of them, right? From Myers-Briggs to Which Hogwarts Character Are You, we love to feel identified. Sometimes we do it for pure entertainment, but other times, our results tell us integral information about ourselves that can accelerate our businesses. 📈
Tony Robbins’ Business Identity Quiz is one such quiz. This quiz will tell you if you’re an entrepreneur, an artist, or a manager. 👩💻 Your result will speak to the things that you like to do, the things you should delegate, and the way you handle your business. 📌
🎨 THE ARTIST: 🎨
The majority of business owners around the world are artists. 🖌️ They have a craft they’re passionate about, but building a business is so much more than the actual craft. They’re an expert at what they do, make, or produce. The art is far more important than growing a business or managing a team. They love creating a product and take immense pride in the process of serving the customer’s need. 📇 They love the product so much that they’re scared of risk and want to protect the identity they’ve created. Artists are often mission-driven 💜 and less interested in the actual running of the business.
Examples of Artists:
🎨 Tony Robbins
🎨 Gordon Ramsay
🎨 Anthony Bourdain
🎨 Robin Williams
👩💻 THE MANAGER 👩💻
Managers love people. 👯 They’re all about managing people and systems by motivating teams and optimizing business systems to make sure everything runs efficiently. They’re very detail-oriented and don’t want to pay as much attention to the product and design. They want to focus on sustainability and achieving results 📈 through managing others. They are pragmatists and organizers who turn vision into action. They tend to stay behind the scenes to make sure everything is running as it should for the business to succeed. 👔
Examples of Managers
👩💻 Bill Campbell (coach of Steve Jobs and Eric Schmidt)
👩💻 Sheryl Sandberg
👩💻 Dawn Eason
🤠 THE ENTREPRENEUR 🤠
Entrepreneurs take on risk to get what they want and easily bounce back if their ideas don’t work out. 💻 They don’t spend a lot of time thinking about design and creation. They are strategic in nature and enjoy developing a future vision for their business. Entrepreneurs are about making money 💵 and potentially moving on to the next venture. They’re fueled by the rush of building a startup, managing investments, and looking for any opportunity to innovate and grow. 🌱
Examples of Entrepreneurs:
🤠 Jack Ma
🤠 Bill Gates
🤠 Jeff Bezos
What kind of entrepreneur are you? What do your results tell you about your strengths as well as what kind of person you need to partner with to succeed?
Whether you have employees or you’re a 🤗one-person shop, all small business owners need to focus on the finances.💰Only 40% of small businesses are profitable. 💵 30% of small businesses break even year to year. 📈
🛑That leaves 30% of small businesses that are losing money annually. 🛑
💸86.3% of small business owners take an annual salary of < $100,000.
💸30.1% don’t pay themselves AT ALL.
💸Of those who do take a salary, most of them range between $20K and $50K.
Who Do Small Businesses Employ?
The nearly 30 million small businesses in the US employ 47.8 percent of US workers. ✅
A business is just a hobby if you’re not making money. ⚡️If you’re not making money, you can’t scale your impact! ⚡️
At all times, we need to gauge the age of the industry that we’re in! 👩💻If we’re in an older industry that’s set in its ways, you may need to have two businesses at the same time - the one you’re in now, and the one that’s going to put the old industry out of business. 🕒You want to position yourself to be the one that puts yourself out of business.
I have a client with 4 physical retail locations. He knows that online retail is coming up on brick-and-mortar stores, so he’s begun an online business to supplement his retail locations.
If you implement the right systems and strategies:
💸In the first year, you should be able to get your first $100,000 in revenue.
💸1-3 years - $1,000,000 in revenue
You can achieve the financial freedom you desire and deserve with your business. With commitment and confidence, you can be in the successful percentage! 🙌
There are two months left in 2019. I have a few questions for you: How are you showing up? And are you showing up or just going through the motions?🤷🏻♀️ Have you thought, “Well it’s the end of the year, I’m going to take it slow.”? Or are you one of our crew, one of our tribe and you see the last three months as the end of the race. 🏃🏼♀️You say, “I'm ready to go! I am fired up! I am bringing everything that I have inside of me to make this the best year of my life!”🙋🏻♀️👏🏻
So if you want to make sure that 2019 is the best year ever, keep reading!👇🏻
Let’s check in. ✔️ How is your year going?
This time of year can mean different things depending on where you are in your business and who you are. Maybe it means that you're 18 and you're bringing all the fire🔥🔥 , you’re working it, and you have all this energy🤩. You are at an early stage in your life full of promise and everything is new and you're learning🤓📚. Or you might be in your mid-30s. You're asking different questions now and you are assessing life In prioritizing things a little differently than you did when you were 18 or in your early twenties. This is a really great time to check in with yourself. You might be in your fifties and enough time has gone by that you are wiser you've lived a lot of life and you still have another 50 years to look forward to. This is such an exciting time for you!👏🏻
Wherever you are in your season of life, what I want you to do is look back and ask yourself ‘How have I been showing up? 🤔 And ‘Is that good enough for me?’👌🏼
Or have you been asleep at the wheel of your own life? Are you listening to what everyone else around you wanted you to do? My challenge to you is: Today is the day that you make sure you are living for yourself! 🙌🏻 What do you really want from your life?
Even if you feel like you are stuck, I want to tell you that that is a lie. We are all resourceful and can change. Yes, it will require courage and figuring out things differently. But when will enough be enough?
It’s integral to know about other small business owners so we can understand how powerful we are and know that the struggles we go through are not singular instances. We’ve all been there. We’ve all gone through it. There’s a trajectory of business growth. 📈It’s part of the process.
😎Take a breath and know that you’re doing the best you can by showing up and being strategic in learning and growing your business.
Today, let’s take a look at the 📌5 biggest problems for business owners. 📌 Knowing them and naming them will help us avoid falling into their traps!
⛔️PROBLEM ONE: CLARITY
One of the biggest problems for small business owners is a lack of clarity in terms of knowing what it is that you do, who you serve, who your target market is, and what the right product/service is to offer, and how to offer it. You need to know WHERE you’re going to win. Imagine that you have 10 soccer balls and 10 goal posts. You can use a different strategy and angle every time, but you won’t perfect your technique. But if you have 10 soccer balls and 1 goal post, you’ll get better SO MUCH FASTER! 🏃
⛔️PROBLEM TWO: VISIBILITY
People buy what’s in front of them. Potential clients and customers need to like and trust and respect you, but if they forget about you they’re not going to purchase your product or service. Marketing and sales is the engine to success! 🙌We need to innovate with our marketing and sales strategies while focusing on our target audiences.
To increase your visibility strategy, 👀answer the following questions:
⭐️Where does your target audience hang out?
⭐️How do they find you?
⭐️What are you the expert in?
You must become the expert in your winning space! 🤳🏼You can generate expertise in a number of ways, including hosting a podcast or offering services. Based on your business, determine what platforms make sense for you!
⛔️PROBLEM THREE: LACK OF PROVEN SUCCESS STRUCTURES
Systems, systems, systems! Success is not an accident. Success leaves footprints. 👣We know this! When we’re not successful, it’s often because we’re not following the right footprints and implementing the right strategy. So many business owners are winging it! You need to be sustainably, predictably successful. Implement strategies for success to ensure you can grow your business to the heights you want to reach. Are you implementing systems that keep you in continual struggle, or are you implementing systems that lead you to real financial freedom? Implement your million dollar strategy! 💸
⛔️PROBLEM FOUR: ACTION AND ACCOUNTABILITY
A million vision boards do not compare to a single ounce of action. 🏅You can have all the ideas in the world, but if you’re not taking action on the things that matter, it will simply be a dream. A lot of business owners know what they need to be doing, but common knowledge is not always common practice. You have to do the work, be disciplined and show up for your business, even when you don’t feel like it. It all comes down to a decision. 🙋
Personally, I haven’t had an easy journey. Last year, I made the decision: I was done dabbling. I was going to go for financial freedom RIGHT AWAY. I was done working hard, long hours for little financial reward. Two months after that decision, I 35x my income. 💰With 100% YES and no excuses, you can achieve this success.
You have to take ownership of your results and your experiences. If something isn’t working, it’s not the end of the world. Take stock of it and take action. What are the metrics you’re seeking?
⛔️PROBLEM FIVE: CONFIDENCE AND MINDSET
Mindset is everything. 🧠Success is 80% mindset, 20% strategy and tactics. You have to step into a higher level of confidence and energy than you feel. You must create the energy necessary to succeed! 💥
Remember: you’ve already won. When you were being conceived, there were 300 million sperm fighting to be the sperm that won. That sperm that one created you. You won the first race you ever entered into! Take that energy and don’t let anything hold you back. The only person that can give you the power you need is yourself.
To achieve success as a small business, you must be committed. Hard times are going to come; it’s just part of the journey. If you’re committed, you’re ready to hold steady and strong while weathering the hard times!
In the last post we talked about small business success and failure rates. This week, we’re going to talk more about small businesses in the US - and I guarantee there are a couple of stats in here that will blow you away! 🤯
Let’s start with the basics.
🤷What is a small business, anyway?
Small businesses don’t have to be that small! Depending on your industry, the definition of a small business depends on the number of employees and the annual revenue. 📈
📌99.7% of ALL firms in the US are small businesses. That’s 30 million businesses doing their best to offer products and services to their target markets!
📌47.8% of all US workers are employed by a small business.
In some industries, the definition of a small business maxes out at 250 employees. In other industries, the definition caps at 1,500 employees. 👀That’s a HUGE range!
But most businesses have nowhere NEAR that number of employees. Small businesses with less than 20 employees make up 90% of all US businesses, while 23 million US businesses have NO EMPLOYEES AT ALL! 🔥
To be successful as a small business, you absolutely MUST get a handle on sales and marketing. Success is not an accident. You’ve got to decide to be successful. Never undervalue who you are and what you know. Never underestimate what you are capable of. 💪
I will fight to see you and your business be one of the successful ones. But you have to want it too. You have to get clarity on the roadblocks and the obstacles, you’ve got to choose to overcome them, and then it’s time to win! 🏆🥇
To start a new business, you’ve gotta dream big. 💫
Remember those posters along your middle school hallway? The ones that said, “Shoot for the moon. Even if you miss, you’ll land among the stars? ” 🌙✨
It might be true for life, but it’s not always true in business. 👩💻Before embarking on a new business venture, it’s important to understand the statistics.
According to the Bureau of Labor Statistics:
❌20% of small businesses fail in the first year.
❌30% fail in year two.
❌50% fail after 5 years.
❌70% fail by year 10.
With stats like that, we MUST be strategic. 📈
But it’s not all gloom and doom! Starting a new business is nerve-wrecking. It’s okay to be anxious, y’all. It’s a big undertaking! When you focus on marrying strategy and passion to create your ultimate business, however, you can start with success. 🤩
Let’s look at those numbers from a different perspective.
According to the Bureau of Labor Statistics:
✅80% of small businesses with employees will survive their first year.
✅70% of small businesses with employees will survive their second year.
✅50% of small businesses with employees will survive their fifth year.
✅30% of small businesses with employees will survive their 10th year.
These rates tend to be consistent over time, no matter what else is going on in the world. 🌎
So what can you do to be one of the 30%? 🏆
First, let’s take a look at why businesses fail. The largest percentage of businesses that fail - 42% - fail because there is no need for their product or service. So start with research. 💻 Before you begin, you should be certain that there is a need for your business. If you’re offering something people want and need, you’re much more likely to succeed!
We’ll talk more about positioning your small business for success next week, so keep an eye on your inbox and right here!
You’ve found your passion, and you’re ready to make it your lifeblood AND your revenue stream. 💰 Now you need something to sell. 🙋
Let me re-emphasize that. Yes, you need something to sell that makes money. 💸💸
No money, no business. No money, you just have a hobby, and we don’t want that! 🙅
Whether your business is product-based or service-based, focus on a basic 3-tier offer ladder to bring in new clients at all levels and allow access for more people to engage with you!
To start, begin with a foundation of VALUE. 🙌
If there is one thing you take away from this email, remember: value, value, VALUE. 🙌
Give them a taste - provide valuable content for free, so that potential clients understand who you are and the work that you do. Once you’ve built trust through complimentary value, clients will join the offer ladder - and they won’t always start at the bottom! 🤩
📌Building trust is essential to your business success. People only buy from those they like and those who are top of mind. By providing valuable content, you'll remain at the forefront of their thoughts AND build the trust that's so necessary to successful sales! 📌
A basic 3-tier offer ladder contains 3 levels of products or services:
⚡️Low-tier: costs < $100
⚡️Mid-tier: costs $100-$2000
⚡️High-tier: costs $2000+
Every single tier connects to a complimentary content value offering. That is, you will shine light on your offers by providing valuable content for free to build trust and likeability. 😍🤗
Now, suppose you want people to know about the widgets you’re selling for your high-tier offering 💻→ provide valuable complimentary content and then mention that offering with an invitation ✉️ (for higher tiers, there will be different ways that you’ll have to engage your audience for the next step).
So again, the main takeaway here is as follows: have something to sell, and to help you sell your products or services, use an information strategy to help you along!
Yes, to make money, you gotta start with having something to sell! I want you all to be wildly profitable! 🔥💵📈
If you want even more guidance, reach out to schedule a 1-1 Profit Session with me about YOUR business! I’d love to walk through ways to make sure you’re being as profitable as possible! You can click here or press the button below to schedule a Complimentary Profit Session with me (value of over $1000).
Remember, I am your biggest fan, I am in YOUR corner, and I want to see you profit!
If you want to learn about my latest program (and group coaching experience) check out my FREE Profit Course, where I share five things you must do to build a profitable 21st century business!
Working to radically improve the lives of a billion++ people via tech & mindset