This is one of the best economies I've ever seen. I'm always working to help you maximize your earnings and investments. This episode is about one of the best asset classes you have. That is you, your entrepreneurial venture, and what you're doing to make your business really thrive. To help me do that today, my longtime friend Bill Walsh is here. Bill is an extraordinary marketer who builds big teams. He has a whole company and brand around Powerteams that he is an expert at building.
We talk about how 2020 is the year to make money. We also talk about the three most important things each business needs. We talk about leadership, vision, mission, goals, and sales. Bill touches on the importance of taking the time to build a real business plan that focuses on the mission of customers served. We also talk about the thing that kills most entrepreneurial ventures. It’s called busyville. We also talk about self-doubt. This episode will give you great advice and actionable steps to make your business thrive and not just survive.
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- [01:20] Loral and Bill have known each other for at least 15 years.
- [02:53] After Bill left school, he became a trader. Then he worked on doing turnarounds where he would just fix businesses.
- [03:13] Fixing businesses was always like a game of chess. Did they have the right product, price, and team in place?
- [03:35] They have been creating events to help entrepreneurs take their ideas from concept to cash generating business.
- [03:52] A leader needs to have a clear vision of where a business is going.
- [04:10] There needs to be a mission and a process.
- [04:31] Goals are really nothing more than a mile marker that moves you closer to the vision.
- [04:40] Without a great leader, the business will fail.
- [05:07] You also have to make sure you have the money to sustain business and the ability to make sales and take credit cards.
- [07:40] For a business to really thrive, an entrepreneur needs to learn how to delegate, so that they can focus on what is most important.
- [08:12] Find mentors that have done it. If they haven't lived it, they don't know it. You need to be out in the field with people who build real businesses.
- [08:37] The real zone is where the entrepreneur wakes up early and goes to bed late. Work 100 hours a week, so that you don't have to work 40.
- [09:00] Have habits of learning. Hire a coach and transition from employee to entrepreneur.
- [09:45] Systems win and people fail. Have a product that's priced to sell and priced for profit. Have a form of lead generation. Without qualified leads you don't have anyone to sell to.
- [10:24] Become a subject matter expert. You can have a book, website, social media presence, or podcast. Use a free special report for your lead generation special.
- [10:31] You can make free audio to create a special report to get people to opt in with pure education.
- [11:24] Give away great content and let the buyer buy.
- [11:45] You can use Instagram to get real followers through IGTV.
- [12:02] You can use Linked Helper to go after executives on LinkedIn.
- [12:28] You need real qualified leads that go through a mobile optin.
- [13:00] You can edit video with InShot. Traffic will come when you serve customers.
- [13:49] Don't be afraid to spend money on good printed material. Also learn how to speak.
- [14:20] Success for entrepreneurs is being consistently persistent and not waiting for things to happen.
- [14:54] You also have to make sure that you ask for the sale.
- [16:08] Start with one tool at a time. Start with G Suite. You could use Design Pickle for graphic design.
- [17:02] If you're not real tech savvy, find someone on Upwork to help you.
- [18:45] Your assets can be used in multiple formats.
- [20:21] Choose the social media platform where your customers live and distribute to the rest.
- [21:36] Get a good business card and a good postcard and a good corporate brochure. Then follow through if the customer calls.
- [22:41] Within 4 hours of your potential customers opt-in, they should get a newsletter and an educational five minute video.
- [23:13] After a text opt-in, give them stuff for free.
- [24:09] The less you try to force the sale, the easier it becomes.
- [24:36] Follow up every 2 weeks indefinitely.
- [24:53] You always have to be accountable and have daily ratios.
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