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Now displaying: June, 2018
Jun 21, 2018

The single most important focus for growing a business is sales and marketing. Building a database of customers and potential customers is critical. But to communicate effectively with your customers you need to understand where they come from and what they are interested in. You need to segment your list to communicate effectively with clients and potential clients.

Darin Adams is an expert at growing small businesses and sales and marketing using Infusionsoft. Today, we discuss how setting up and automating your marketing efforts from the beginning is one of the most important things that you can do for your business. We talk about list segmenting, lead nurturing, CRM software, API integrations, and smart ninja tricks to get started automating and tracking your sales and marketing efforts.

You can find Darin here:

Ask Loral
Darin's Website
Darin on Twitter
Darin's YouTube Channel

Show Notes

  • [01:22] Darin has a background in broadcasting and worked with small business owners. He helped them with their message in their marketing.
  • [01:54] When Darin discovered Infusionsoft, he knew it was a great combination. It combined his love of teaching people and helping people with marketing.
  • [02:10] His focus is growing, building and automating business.
  • [02:15] He travels around and teaches people how to grow their business.
  • [02:25] Marketing and sales. The single thing a business owner can do to jump start their business.
  • [02:46] The number one thing you need to be doing is building a segmented list.
  • [02:56] People often think the value of their business is the product or service, but it's really in the list.
  • [03:17] The importance of marketing and having a database of customers.
  • [03:46] Your list isn't very helpful, unless you know actual information about the people on it.
  • [04:12] Breaking things down into segments lets you know exactly who the people are and what they are interested in.
  • [04:26] The money comes in when you have tools in place to grow the list and collect data on the people on the list.
  • [05:07] How people think their website and even Facebook are critical to their businesses.
  • [05:41] A website is one arm of your business. It can be used to drive people to your database.
  • [06:59] You want to know how people come to your list, so you can communicate out to them.
  • [07:12] Your customer relationship management tool or CRM allows you to communicate out to them and make money.
  • [07:40] Information in a segmented list.
  • [08:44] The beauty of Infusionsoft is that it allows you to tag people, so you know how you first engaged.
  • [09:21] You can tag people, so that you understand how to communicate with them.
  • [11:47] Ways to capture leads include a landing page, a webinar, life events with text integration or a website integration, and free gifts or lead magnets.
  • [13:32] Once you have your leads you need to nurture those relationships. People don't buy on the first contact.
  • [13:45] Find out what their pain is and how to solve it. That will build relationships and trust.
  • [14:08] You also need to be able to track what they're doing like if their opening emails or clicking on links.
  • [14:44] Map out the process to take your customer from step A to B and automate the process.
  • [15:08] Tracking people will allow you to make the right offers at the right time.
  • [15:43] The number one way to grow a business is to use your existing business.
  • [16:21] Lifecycle marketing. Drive the leads, nurture the leads, track the leads, make offers depending on what they're doing, make sales, and follow up and turn customers into raving fans.
  • [17:15] Infusionsoft integrates with so many other companies.
  • [17:43] Integrating Facebook retargeting with Infusionsoft will allow you to target specific groups.
  • [18:03] You can also use text integration with tools like FixYourFunnel, Call loop, Salesmsg, PlusThis, or Twilio.
  • [18:28] You can use the system to integrate texting.
  • [18:38] PicSnippets allows you to personalize a photo. Sending what looks like a personalized photo to someone is amazing.
  • [19:23] SoTellUs let's you capture video referrals. Folklore Creative makes animated people.
  • [21:23] For a small business with Infusionsoft you can have a full integrated marketing sales and accounting software.
  • [21:58] You need a CRM and a system like this from day one. When you start collecting leads. You need something to do with those leads.
  • [22:25] This is more important than a website or formulating what your actual product is. This is the most important foundational tool for any business.
  • [23:06] You can API QuickBooks on to the end of this, and as always don't forget to get incorporated.

Links and Resources:

 

Jun 15, 2018

Business strategist and extraordinary marketer Adam Kipnes is here today to talk about how marketing is the answer to everything. Marketing is what starts everything in your business. People and businesses make money through marketing and marketing strategies. Marketing and tracking your revenue generating activities need to come first.

We also talk about putting strategy before tactics and finding your ideal customer and knowing what you want to say to them. Adam talks about the system he has built to put marketing first to make clients money, the five major components of a marketing plan, and his strategies that you need to start using in your business today.

You can find Adam here:

Ask Loral
Free Book From Adam - How to Make More Money in Your Business
New10K.com

Show Notes

  • [01:36] For the past 18 years, Adam has been working with small business entrepreneurs to help them grow their business.
  • [02:05] In this time, Adam has learned what small business owners are doing wrong when it comes to marketing.
  • [02:25] Adam's goal is to find new revenue through marketing techniques, and then utilize that money to build a better business.
  • [02:48] Why do people need marketing first? Small business owners need more money. The reason small businesses owners need more money first is because they don't usually have money set aside to grow the business.
  • [03:27] Being better at your business doesn't grow your business. Marketing grows your business.
  • [03:59] The five major components to marketing and marketing plan. Leads, conversions, transactions, higher prices, and more profits for your business. More leads is the first component.
  • [04:12] Sales and conversions is the second component. Once you get people to say yes, you want to have a plan to get them to say yes again. This is part of the marketing funnel.
  • [04:46] Once you have repeat customers, you can raise your price point. This will drive more money into your pocket.
  • [04:57] Once you have these things, you have strong sales, pricing power, and more profit.
  • [05:37] Conversions is getting people to say yes to you. The key to a good conversion is understanding the problem that the prospect has and the solution you deliver.
  • [08:39] An example are the drinks in front of the cash register at Home Depot.
  • [08:58] Think about things that you can offer your clients.
  • [09:43] It's important to put the revenue-generating side of your business first.
  • [10:36] Before you do anything, ask if what you are about to do will get you paid?
  • [11:05] Also ask if what you are about to do will serve your purpose?
  • [11:22] Does what you are about to do need to be done by you?
  • [11:53] Does what you are about to do need to be done at all? Cut out activities that don't add value.
  • [12:27] Get off the treadmill of just doing the work every day, and implement the things that you need to do to make money.
  • [12:51] Produce a revenue chart. Tie everything you do with revenue production.
  • [14:01] The purpose of the funnel is to get people engaged with you. Get them ready to buy your high ticket or more expensive services.
  • [14:17] You can offer something of value to get people to engage like a free report. Once they engage, you can then move to a book or a lower end service, then get them to engage with you personally, then move to something high end like a coaching program.
  • [15:30] The engagement process can be through Facebook, face-to-face, or even through a podcast. Try to get initial engagement that your audience cannot say no to.
  • [16:33] Funnels work because you get value, create value, and your customers know, like, and trust you.
  • [17:26] The first step is knowing who your customer is and what you want to say to them.
  • [17:50] The strategic side is first. Then the tactical side is finding out where these people are at.
  • [19:36] We have people who know us today that are low hanging fruit when it comes to capturing leads. Start with the people who already know, like, and trust you.
  • [20:14] These people can also be referrals or joint venture partners.
  • [21:19] You can download a free book from Adam at FreeBookFromAdam.com  How to Make More Money in Your Business: 8 Strategies You Better Start Using in Your Business Today!
  • [21:38] The first strategy is how to use messaging on a lead capture page. A lead capture gives visitors one thing and one thing only to do.
  • [22:08] The second chapter talks about joint ventures. Think about the other people who sell to your client.
  • [22:56] Statistics show that people buy from the fifth to eighth contact. Having a drip campaign is critical.
  • [23:19] The last chapter talks about how to make more money through the use of bundling versus discounting.

Links and Resources:

 

Jun 7, 2018

Getting off of Wall Street and alternative investments are one of my favorite topics. Today, Scott Arden the COO and co-founder of Controller’s Ltd. a company that offers a wide range of financial services including bookkeeping, payroll, CFO/controller services, cash-flow management, and tax planning is here.  

We talk about asset allocation, diversification, and making the most of alternative investments. Some of the things we discuss are choosing the right corporate structure or multiple structures to reduce taxes and liability issues. We also talk about the steps to begin building the best type of structure for your businesses.

You can find Scott here:

Scott on Linkedin
Ask Loral

Show Notes

  • [01:20] Scott and his co-founder discovered a breakdown between the asset protection side of business and the tax planning side and decided to bridge that gap. 
  • [02:03] They want everyone on the financial team to be on the same page and have the same plan in mind moving forward. 
  • [02:26] The breakdown comes from a lack of integration and the lawyers not talking to the accountants unless the client knows how to facilitate those conversations. 
  • [02:43] Most people abdicate their total financial control to a CPA, a lawyer, and maybe a financial planner.  
  • [03:06] The first step in diversification of assets. Make sure that your current house is in order.  
  • [03:47] True asset protection can only be achieved by using multiple entity structures.  
  • [04:29] Once everything is in order, then it is time to take on that new business deal.  
  • [05:02] Building full asset protection.  
  • [05:25] The entity you should choose depends on the type of business that you are going into. A lot of businesses starting out use LLCs or S Corps.  
  • [06:04] As you get more comfortable with different investments, it is time to bring on different companies.  
  • [06:12] Creating an LLC structure can allow for passive investments, deductions, and liability protection. 
  • [06:37] As things become more profitable, you will want to look at tax strategies and building a nest egg for funding additional deals.  
  • [06:56] Depending on how diverse your assets are you could go into a multi-tiered structure. 
  • [07:24] Dividing assets and liabilities into companies. Different businesses have different liability factors.  
  • [08:35] Defining the effective liabilities in each business.You don't want to combine all of your different businesses into one entity and all businesses responsible for an accident in one of the businesses. 
  • [08:52] You can put your equipment in a separate LLC and lease it back to the company to avoid liability issues. 
  • [09:00] Scott's company does a comprehensive analysis of what the client has and how many entity structures should be put in place. 
  • [09:42] Own nothing and control everything. Nevada offers an asset protection trust.  
  • [10:16] Everyone with assets should have a living trust. An asset protection trust means you own nothing, but control everything. These can protect everything that you earn and pass it to beneficiaries.  
  • [11:41] The wealthy live within corporate structures.  
  • [11:56] Insurance can separate out some of the liability. Use of corporate structures can legally encumber assets using multiple entities creating friendly liens to protect the assets.  
  • [13:27] Investment risk comes down to identifying your expectations and comfort level.  
  • [14:34] Being the first lien position on a note. Flipping Wall Street is a robotic trader. Equity investing has always been on the playing field.  
  • [15:44] Equity investing is more secure. Starting out in debt is more stressful and reduces the amount of risk that you can take.  
  • [17:26] Step one: get your current house in order. Step two: identify expectations. Step three: Research.  
  • [18:07] Speak with someone who has experience. Learn from people who know.  
  • [18:48] You can't learn the variables of a deal in a textbook. A deal is when all parties feel that it works. 
  • [19:26] Lowering taxes through multiple entities. Corporations and LLCs offer far more tax deduction options than individuals.  
  • [21:06] Corporate write-offs can offer you more use of your money up front. 

Links and Resources: 

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