Nicholson hosts a live Q&A session where Oli offers his insights into marketing and running successful businesses.
Right. Okay, fine. So I'm assuming he would've obviously know that I started my first business when I was 15, so it's fine yeah, there's been, Oh God, there's been lots of lessons so may, I think you've got a, you've got to look at where you're spending, why are you spending your time and how you can best leverage that you know, we all get distracted as business owners and entrepreneurs and it's really, really super important to be spending your time on the most important things that, again, they may be, it's going to generate revenue for you, or, or if revenue is your goal, of course, it might well be you've got some very clear objectives and priorities do something each day, each week that's moving you further towards those goals. That would be the first thing that I would say.
Yeah I'd also say, and kind of related to that is, choose your opportunities wisely this, this year I've been really good at keeping a not to do list rather than us having it too big list so I get offered lots and lots of opportunities and have had lots of opportunities and done lots and lots of things and, and, and kind of got a portfolio of different businesses now but, what I would say is that there has been times in the past where, you know, if I had known a little bit better, but I've been a little bit wiser, I would have chosen my a little bit more wisely and doing a little bit more due diligence and I think critical thinking over, how they would benefit me and serve me. Wow rather than just at that very moment in time, in the future.
And how that would work with you, the things that we have got going on and how it would impact them so those, those would be the two. And then finally, I don't think I could probably impress upon this enough, play to your strengths, and certainly develop your weaknesses. But, I would say that, you know, you do need to surround yourself with people that know how to do things quicker, a new you than just learning about when you can go learn about whatever you want to go and learn about. And there's nothing wrong with doing nothing. You need to have an appreciation and an understanding for lots of different things. But what you shouldn't do is, just try and be an expert at everything. I think you should just concentrate on what you're really good at and play to those strengths and develop them. So you've got an understanding whether or not someone is doing a good job or not but, you know, really surround yourself with good people, good suppliers, who you can delegate to.
Cool, good advice. Good advice next question is from a friend of yours, separating work from ideal results. Now you work closely with those guys so yeah, CEP is saying, where do you think the best place to start is when building out the funnel for the first time?
Yeah, sure probably the, well there's a couple of steps to this, but the first is in the market recognizance, or the market recap. I mean, you've got some no, well basically is predicated on the assumption that you've already got a good product to sell in the first place some people have got some really bad, really bad products or they've got a service or they just think it's good, or it's not yet proven, that they go start building Sonal score and investing time and money resources. Then the act team never going to take them any further forward because it's just rubbish from the beginning. So this is predicated on the fact that you've got a good thing in the first place but I'm supposing that the next step is to do the market recognizance. Actually really start to understand from your existing customers, probably your best customers.
You know what, who they are, you know, not just the demographic information of where that base, you know, what size of company they are, whatever it may be, what they bought now some of that information you may already have. So going back out to your existing customer base to find out, you know why they bought, asking some other questions is a really good place to understand what your avatars are. Because most marketing messages are quite broad and they're not really talking and not really specific to, you will talk in the market. So you want to get really clear on those avatars, understand, you know, what their objections are, understand what kind of problem you're actually solving with a, what it is that you, that you've got to offer and then talk very directly towards them. And that that's on landing pages, sales pages.
When we do this, we, we really, really go deep into the, the, the, the problems and frustrations that people have got. And we tailor everything that we tailor. You know, if it's the sales page, just as an example, the headline, subhead, the opener, the testimonials are amps, the objections. So there's some congruence. When people feel that they're aligned and you understand them, they're more likely to convert at what ever step of the funnel that you've taken people through. It's so, so important that you do that job. And I always say this, make, you know, you do the hard stuff to make selling easy and then you've really, really got to do that, to take to any point of the funnel in terms of, what subs question I think was kind of, that, that kind of does that answer?
Yeah, no, that's the best place to start is to get to know who you're selling to really and tailor it for your market coat question from a Julia Brown bull. She owns a social media marketing company and obviously there's hundreds of different funnels that we could all have in our business. But w w she was saying is what would be one funnel that most small businesses could start out with to, to get some leads coming into their business? Obviously it depends what business, but is there one in particular that could work with a number of types of businesses?
Sure. I mean from Titans and funnels, I mean in terms of lead generation funnels, we break our business down into different divisions. And so really the funnels that I would start within those different divisions would be the first thing I'd think about and send it. There are lots of different funnels from a marketing standpoint that you could run and take people through but what I would say, maybe not so much max, it's not really a funnel, but certainly something that you want to take people and bring people in. Say once they're in your database, in your system, what other mechanism you've used to get them there in the first place in terms of lean back there to whatever would be a long term nurture sequence and not a normal long term nurture sequence of just an eight mile every month or, or whatever it might be.
If the newsletter, kind of a 52 week, email sequence works really any wow. If that can be tailored somewhat towards those avatars that helps massively and nurture our kind of nurturing frequencies actually, broken into, content, content on author. So what I've come to them, we have, we then we say nuts value. Then the next thing that I receive is offer value, offer value offer and that certainly wouldn't out those people that are actually engaging with the, with the content and then ultimately giving them something that, that's an offer usually those offers in the nurture plays so to speak, or campaigns are quite low end just to weed out the players from the non-buyers and to get people across the free line that that nurture sequence plays a very, very, the doctrine nation.
That should also be included within that nurture sequence. A lot of people think indoctrination from a Ryan Deiss perspective is just a series of three miles. When somebody first joins your list, I'd be very diseased to give me that answer. That was not what indoctrination is about it's about creating an experience that people, when they join your list of their roadmap, nurture a funnel, a campaign that you are continually nurturing them. So continuing doctrine, dating them, around, you, to get them to get no lie, contrition batter and throughout my nurture process, it isn't just about content and author, it's also about indoctrination as well throughout that.
Okay, cool. That makes sense obviously your sort of the funnels that you're building, high end and but so you're using the latest tools and, and stuff like that, but what could a small business owner that didn't have a big budget or was just getting into this, how could they measure conversions at each stage of the funnel in a simple way that wasn't too technical?
Yeah, sure. I mean, you taught me, right? The trick, the truth is, is that regardless of the tool, what are you using most, regardless of its Infusionsoft active campaign or even MailChimp, whatever it might be, that just the delivery mechanism, I think it's important to go back to basics even when you're doing sophisticated things and get really clear on what's actually happening. And you can get, you know that from doing a very, very simple Google spreadsheet and we have this in our own business where we might have, we might be managing traffic for a client or one of our own businesses that we'd got somebody looking at, the actual tracking and analytics side and they both reporting to a Google spreadsheet to actually input the numbers independently of each other so that we can stand that I need to use just a one man band, business owner, sex indicative Rooney really simple, is the best way to start.
And the, the key things really, if you're doing any kind of paid advertising souls tracking people are, people aren't able to scale my campaigns effectively because they don't really, track things as well as they could do. And understanding where things have come from is a very important thing. So if they, even if they haven't got a big budget yet what they do, wants to invest into the best spending money, then you've got to hold that money accountable for something. And you do need to find a mechanism of tracking yet if that is just in a rudimentary way of just knowing the cost [inaudible] getting people over the, over into database, track it on a spreadsheet, the cost of the customer and lifetime value and lead by times and stuff that gets a little bit more sophisticated obviously, but you just gotta basis first spreadsheet one to each milestone of the campaign and see how people are moving through it regardless of what I've used. And we still do that now.
And even, even if they're using like, some of the cheaper packages, say for example, like a lead pages or click funnels and they just wanted to check the opt ins on a page, it would give them that data very easily, visually straight away, wouldn't it?
Yeah, sure. I do think that a lot of online tactics, how, while pretty much all the tactics lend themselves very well to, you know, popular like ClickFunnels for example, which is, you know, quite a low entry point for people to sort of get involved with and kind of see, throughout diverting it does a good job at doing that. And it also reduces frustration, and procrastination that most people have when it comes to getting pages up and things like that.
Yeah. So, the next question is from Neil Humphrey who is from the brand gladiator and a bit of a bit of a different question here, but he was saying, what's your biggest mistake, your business and what did you learn from it?
So, okay, good question. I would say, okay.
That I got involved and made a snap decision to bring somebody into my business that I then gave equity to, to quickly, they had a call for high-flying job and I thought bringing me into the business to run things on an operational, on an operational scale because we were growing so quickly was what I really needed. This person was the right person I brought them into the business. I didn't just give them a job and not only had I made the mistake of hiring quickly, and not so late, I'd also given away equity so entice them in even, so not only guarantee their salary, but also give some of the business away. As a result, I have to get them out of the business, which costs me time and energy and money, which I could really done without at the point where the business was growing.
So regardless of, so the lesson really in that is that if you have a growing business and there is a reason to bring somebody in, and be a staff member that you think is, is, is where they can help you or possibly a business partner thinking extremely carefully whether or not that person is going to be able to achieve, what achieved the mission of, of the business. And if they've really aligned to the values of the business, and they, they share the values of the business, that, that, that you want. And I would hire and fire to those volumes. And so in that case, we brought somebody in that didn't really, wasn't ready, rightly aligned to those values and it was a mistake and a costly one.
Well, and the equity thing makes it difficult as well, doesn't it? So that's, that's the lesson there as well. So I mean, we don't give away at kataifi if you can get away with it in, in business because it's tough then to, to deal with one thing. I would say that is, a lot of our employees, we have a kind of a different kind of approach. The remuneration in our business, which allows us to be able to incentivize people with the growth of the business and the value that they have split. So we have kind of a profit share pool, and it's not quite as simple as just its net profit share, ribbit profit share. And there's, there's a kind of, there's an algorithm that goes around it but that was bringing people in that kind of create a better culture within the business and really allows them to realize that all kids have the tool and for them to really realize that value that they bring into the business and also get rewarded for it, that's a much better way than giving the way I critic.
Yeah, definitely. Cool another question I think, you know, do you know Oli Luke, or the lipstick of a copywriter? You, you guys know each other and he is asking, what have you found as the most effective method for selling high end ticket plane ticket products such as coaching, masterminds and consulting. So that's really what you're selling quite often at the moment, isn't it? Yeah, yeah, sure.
So, that are a number of tactics that I would say that would be, would be largely dependent upon, the audience that you were trying to go after for example, in, in, in my mastermind, when we, when we launched that, those of you, it would have got our package, will have known that we have selected those people that we wanted to put a, an expensive, direct mail piece together for them, for bordering, which is the name of our mastermind and, we had done that by simply, looking at who we thought was a good fit for the group and, really spending a lot of tarring on, on, you know, the small details, to be able to kind of convey and get across and articulate, what this, what the group was about, which would aid in the conversion of people that were coming into the group so, that, that worked. Wow and we also have a lot of great responses from people who have noticed how it's time enough that had gone into that.
Yeah, I saw that on social for you guys that your, your package for that was very high end, like a saying and people shared it on social media. Like, like I saw a number of people doing that so yeah, that worked well.
Yeah. I'm, I'm from that. I, I felt that, we, we, we got the right people involved in the group and I'll, I'll ask, the mind doesn't run. We kind of, yeah, we will have other people joining our group as we go through, but the people that had received that, you know, we got a lot, got a lot of good feedback. It's about knowing them numbers. That was an expensive package to put in the mail but it worked and in the worst some things that we might've changed a little bit, but in the main it was a, it was a good thing to do now in terms of more of a, a lead generation campaign that brings people into higher level consulting, coaching programs and the best of all, has to be, bringing people into a, some kind of webinar, wax.
There is an opportunity to be able to solidify the credibility, your authority, but there isn't, that's looking at, bringing some beans or higher end, opportunity. They are exclusive coaching, a maximum of whatever. And then at the end of the call, actually selling an application, an application to go and apply for a place, that that made is as done for collaborative partners process over the phone. That is the best way to Brett. In other words, if it isn't some, in some cases you might not necessarily close them over the phone on a 10, 15,000 pounds a program. You might never get them to a discovery day. So it's a back with often a lot of time or we spent a lot of franchises like this. Sometimes it's the case that you're trying to bring people to the next step.
So you know right from the beginning, driving them to webinar, webinar to schedule, call scheduled call to then try and get them into a discovery day, which is a paid for day. Okay. Because they've got to put their hand in their pocket to get that. That's a qualifying and 500 pound, whatever it might be. You can try 500 pound off the page on the back of the webinar. My experience is that it's tight into a schedule or then shed your pool. Don't try and sell them. Just sell them the next step. What was the discovery day, fill the discovery day and then offer them the opportunity to come to that and overcome their objections. They're in them face to face and give them an opportunity to, to buy on the day and get involved with your program is a good thing to do, I'll be honest, we sell and we, we've sold a lot.
I, if anybody's reading mine and in my articles on automated webinars, we sell 1.4 million pounds worth of business ops through auto webinars that have a process of bringing people into a 97 pound application at the end of the call. Then we close them on, that the, the actual business opportunity of the phone but for me, it takes me to thinking about this as a script and a lot of things that behind my first thing is to do bring them into them. A webinar, webinar, judge of call, schedule, call to some kind of discovery day. That works really well.
Cool. Yeah. So the webinar also, just giving them time to warm up to you as well, isn't it? So they're there with you for like an hour or so rather than reading an application on a page or blog post or something like that. Or, or a sequence of emails that they might go onto each one for a few seconds. So I agree. I think webinars are good constructually for that yeah, nothing me. I'll just [inaudible] can I have saline that all the webinar running cold traffic to webinars, the conversions don't always really work as well as people want them. So when you're driving people to like a lead magnet, like free rapport and then on the thank you page, the free report, you're offering an automated webinar that could work. Wow. But also you can offer what's called a bridge page in between the report and the [inaudible], the webinar signup, which is why you can collect some additional profile information of the salt person that they are, that then qualifies them to what sort of size business they are. Whatever it might be. You're not asking about the front end, you're asking them at the next step. That must give you the opportunities then, you know, maybe the webinars, not to them, that you weren't always presumed that maybe a webinar isn't, you know, it's just not feasible for them to get on it or it just might not be the right thing in that, that, that, that particular field so getting profile information and getting additional contact information is absolutely critical and then you can start, deciding which type of funnels is going to work for you you know, and if you're going to do a multistep multimedia follow up after them. So collection of lots of information and profile information to decide on how qualified they are. Anything that you are offering really works one.
Okay, good got a couple of questions from Debian mystery he's got, he's very similar to you. It's got multiple businesses and given saying you run several successful businesses and there is always this question for lots of entrepreneurs including him, of when is the right time to start a new business or is there a right time on the no divisions at the moment starting another new business and you've done the same many times over. So when's the right time to start a new business?
Well, I really think you've got to decide that. Again, it goes back to that where your time and resources are and how much of them you have them because you already have so look job. So if you were looking at launching something new, you have to go. So you'd be able to establish a team or, or mechanisms or automation that makes those existing businesses function to full potential. You need a predictable and consistent way of getting leads through to prospects and prospects to customers and customers to repeat buyers before you even think about doing something else. Now, sometimes it can be a case. You can create a business within a business because you might already be spending, you know, money, on, on the things that you could add. Totally go and create a business for your business school, actually use yourself and then get other people to pay you for those services as well, or products or whatever it might be.
So, you know, that's a very good way of starting under the business books in terms of when is the right time. You've got to make sure that you have got that life cycle you know, the journey that somebody goes on and T T you've got to know it, you've got to know the numbers and you've gotta be able to know whether your existing businesses are performing well or not before you do anything else before you split your attention and there are, I would also totally advisors. You've got, as an entrepreneur, as a business owner, you've got to have like a litmus test and let miss tasks that you run by. I get offered opportunities all of the time to get involved with new businesses. And so I appraise those based on a bit of a [inaudible] tax and some of that correlates to my time, energy, and current resources to be able to dedicate to them and that has served me quite well.
Cool and obviously Y w why would you look at starting a new business? Another question from dividends. Why would you even look at starting a new business rather than taking the, making the existing business into a large, a much larger business?
Yeah. Well, I'll give you a really good example of this you know, I've done for you marketing agency, we all build some business. What you do, people's marketing for them. We act as their marketing department. We all say run boot camps and a low Rand, membership program as well. But primarily our main core is our marketing department. Now as you can imagine, we're making people money. We do everything for them and some of the results we got in there pretty, pretty impressive now we recently decided to do, that is a business and it's an income stream for me but also that that particular business also provides fulfillment services into our other businesses out of their marketing department just recently, so 25 franchisees in three weeks because of the funnel that we did as a business from my other business.
So that, the training phase is obviously a lot of congruency the way that that all works but, I personally think that you have got to set the right systems set up in your existing business, and have a way of consistently moving that further forward in line with the priorities of the business. I think you've got to be really clear on what your priorities of your business are on an annual basis and how they break down. So tactical operational priorities is what we call them before you start thinking about other businesses so you've got to maximize your opportunities first before doing something else.
Yeah. Cool. Makes sense I have a good question. This is a good question from Davion and how do you see the scene of selling stuff online changing in the next few years? Do you see that changing of all these new devices and networks and stuff like that?
Well, first of all, I mean, I'll probably say a couple of things there that everybody else already knows, but just to reinforce and if they don't, is, is that mobile is huge. Yeah. Mobile phone, mobile traffic is huge. People responding to emails, open rates are down. Okay. So things like direct mail or working for as bad an AB from a lead generation perspective, from a sales conversion perspective, direct mail works really well. Also, SMS has worked really well when we do tally sales out to people. Once we get to a certain lead score in our system, we send out an SMS to them before we call them. We don't just call them, we send them an SMS out to them and we'll ask them, Hey, we noticed that you, you know, you'd been interested in this, whatever it may be when would be a good time to chat?
We don't waste our time because the champs aren't. We send an email to get to that person and try to get them to let us know when would be the time to, we might be waiting some time people responds to ask some assays quickly. People are responding to direct mail, because people are just bombarded with marketing messages. People also bombarded by the tactics that people are using to get people into that, that programs or that opt in page, our landing page and getting people onto that list. People are very much aware of what people are doing now, right and the merging of content, into, how to monetize content is becoming a big deal. And everybody is kind of heard the fact that landing pages and squeeze pages are kind of dead, not yes and no driving people to content first and get people to know and like and trust you and engaged with that content is becoming even more important.
And we found that, in terms of the whole marketing and online landscape, when we start running funnels certainly to house lists, we find that driving people to even a blog post before we get them to reoffend into a funnel, works really well to pre-frame the offer that we're going to give them at a later time. I'm still workflow, but I think people are becoming more aware of that. Yeah. I would say cost of traffic on Facebook, whoever's getting good traffic, Facebook, costs right now and that pleased with that, that is going to get more expensive and it's getting gap harder, although that they, although that now the data points that Facebook has, you know, just unbelievable. It's the place to be in terms of demographic and psychographic information to be able to get really targeted messages to the audience that is going to become more expensive for sure.
Cool last question what's the most common challenge or the biggest challenge that you see most small businesses having at the moment, very broad question. And how do you think they can best overcome that?
Well, it's actually really written good question the main, everybody's got a lot as an entrepreneur, as a business owner, you have a lot of ideas. Like, I mean, ah, I, you know, I don't know how many ideas have been said around the mastermind table today but my advise is to actually try and test, cheat and test quick with those ideas to figure out what's working. Don't go building things. Don't go building and elaborate ideas of what you, what it could be like. I'm going to figure out first if somebody wants it and then ask them some questions and what their problems are and then serve that means more than anything else, so having too many ideas, it can be a problem and having the capacity and the ability to be able to go and do those things is another problem.
Yeah most of the people that we work with, are people that are very capable, very capable marketers they're very reputable marketers. We've got a lot of people that we work with who are only once that, you know, some of them are household names in marketing and we're running stats, a little score them. Why? Because not when we know what we're doing, but more so, it provides an outlet for implementation, and, and done the right way and getting stuff done is an issue. So, too many people are trying to do too many things themselves. They're not a WordPress expert. They're not ClickFunnels funnels. They're not, an email marketing automation expert and they're not remarketing or a traffic expert. They just try and learn a lot of different things to get mediocre at best over all these things.
Play to your strengths and lat, a team of people, whether it be, you know, we call our service kind of a part of marketing service and it's definitely not right for everybody. By the way. This is tops. This isn't something that I want people to listen to and go, Oh, that sounds great. I can get all this stuff done is not for everybody, but they do need an outlet to be able to do that and apply to your strengths you know, you've got to develop yourself to understand if somebody is doing a good job or not. And I think that that's a, is a critical piece of advice. Don't do everything on your own. Do outsource, insource, get the right people around you and and get more stuff done tests cheap and quick.
Cool. Well that's been fantastic. Look questions, really good questions from the audience and even better answers. So really, really appreciate that. So anyone that wants to see Ollie, we've just been chatting. We've got Oli confirmed for our next event, which is the business owner success summit and tickets have been on sale for over a week now and they're going really, really fantastic. So, tickets are selling fast. We're going to put a link below this video so you can grab a ticket, but anyone that wants to work with you, Oli, or at least discuss the options of working with you, how can they find you, I think, we, that's why you would need to just go to all of the bills, certain.com, Bilson has two hours, BI, Tableau son and then just check it out we just got a little page up that our website actually launches next week out of my talk at GKI C's, info summit. It's super conference. Sorry so, yeah, I think wants to go to [inaudible] and schedule a call to chat there. Anything we can do no problems at all or, even, I would say, my AA will pick up emails on this if anybody wants to talk about other things and other ways we can help them, [email protected], they're welcome to email it and we'll certainly deal with anything after it's cool. Right.
Brilliant. Fantastic. So make sure if you're interested in getting in touch with, with Oli, alternatively come and hang out with him at the business owner success summit. So thanks very much for your time today. Really appreciate it I'm sure you're looking forward to her hitting the sack and getting some sleep tonight. I am brilliant. Thanks Oli. Cheers.