18 min listen
SFR 239: The Most Common Systems I Build POST-Revenue...
SFR 239: The Most Common Systems I Build POST-Revenue...
ratings:
Length:
27 minutes
Released:
May 3, 2019
Format:
Podcast episode
Description
I'm personally very against a heavy focus on systems until after you're cash flowing regularly. These are some of the most frequent systems I build POST-revenue… There are two things that will kill an entrepreneur... Positioning. Not taking on help when they need it I talked about positioning in last weeks blog about finding your big idea… and if you want to do a deep dive, *COUGH*... OFFERMIND ;-) BUT… How do you know when it’s time to take on help? There’s a ton of answers to this question... and I'm NOT telling you that what I'm about to share is the law, but for me, (and for where I am now), this is what’s worked… (...and as usual, it’s the exact opposite of what I was taught in college ;-)) RUNNING A SUCCESSFUL BUSINESS I remember when I made the jump and left ClickFunnels... I pulled in about $200,000 really quick. I was like, “Man, this is more money than I've ever seen in my life.” It was a big moment for me and it was very validating for MANY reasons… and you’d think that would be the most AMAZING news ever... However, at the time, I was the ONLY person in my business. Soooo… I had to voluntarily turn down my revenue in order to turn up my systems. I've told some of these stories in the past as I was documenting my journey. That was well over a year ago, so now I can look back and see all the systems that I actually put in place. College taught me to build a business by first putting the structure together... and then hoping the structure you built is good enough to cause revenue. *THAT SUCKS* Don’t do that! BREAK THE RULES NOT YOUR BUSINESS I approach building a business in the EXACT opposite way to what I was taught at college ... Build the revenue Build a funnel Make sure sales are coming in Use that cash to build a system. ... it works way better... and you still own 100% of your business (# No VC funding.) I am revenue-focused... and sometimes that means other systems in my business suffer a little bit, but I'm not gonna build a system with no revenue. If you give up half your business for VC funding you get golden handcuffs ...and you’re left hoping that those systems create revenue. That's a broken business model, but that's what everyone does. That’s the model that I was taught at college. That’s the mainstream model of entrepreneurship. It’s the model that you see most on Shark Tank. I.e., “Let's go create…” What's my logo going to be? What's my slogan? Where's our business building going to be? Let's incur all these recurring costs and take on debt to pay for systems that are hopefully good enough to create revenue. URGHH! Instead, I'm going to teach you how to: Solve a core problem with a core offer. Create revenue. Take your revenue to build the systems that support the revenue. … that's a far better way to play this game. It's far more secure, and it's waaay easier to win. A lot more people make it that way. Two Comma Club winners don't just build freakin’ business systems with their logo, slogan, and mission statement... I call this crap-poop… It's just junk. I've NEVER seen anybody make the Two Comma Club on their own. WHEN TO HIRE? So here’s the question that sparked this blog... Q: “What steps have you used to increase your speed from when you first started your journey breaking off from ClickFunnels versus today?” (I was asked this on a recent FB live and also in an interview I did) A: One of the things that I've done heavily is team building. When I left ClickFunnels it was just me! … which meant I was the guy doing fulfillment.. the selling… the closing… the marketing. I was the guy on camera... and the guy doing support tickets. That's a lot of freaking roles. It's fine for a while, but then soon... you're gonna die. You need to get some help... or it’s curtains for you and your business! Let’s break this down… as an entrepreneur, you’re gonna die if... #1: You don
Released:
May 3, 2019
Format:
Podcast episode
Titles in the series (100)
SFR 2: Yard Manager, Door-to-Door Sales, ...Paul Mitchell?: From Door-To-Door Sales and eBooks, To Leaving My College Marketing Classes And Paul Mitchell... by Sales Funnel Radio