Transcript for:
Online Business Growth Strategies

So, Alex Herozi showed me how to make $20,000 per month online, and I did. And in this video, I want to show you how and how you can do it, too. So, just to give you some context here, a few months ago, Alex Heroszi announced the school speedrunners, which was a new free private cohort for 100 people. So, he said he was going to help a h 100red people get to $10,000 per month as fast as humanly possible. And then they gave an application to apply. And there were a thousands of people who applied from school, a bunch of different entrepreneurs and creators. and I applied as well. Then a few months later, Andrew Kirby sent me a message and he said, "Hey, congratulations. You are the one of the 100 selected for Hormos's competition." Soon thereafter, we got entered into the school group in the community and we started the challenge for racing to get the most amount of revenue on school specifically in just 90 days. And the result of that was after those 90 days were up, I got number 14 at 65,000 $65,879 in that 90 days. And here you can see the official leaderboard number 14, Austin Cold Iron. Okay, so let me be clear here. I did not win the competition, but I got 14th. And I don't know Alex Ramoszi personally, but he was just one of the coaches among other coaches within this private cohort who taught us how to make $20,000 a month online. So in this video, I'm going to show you the three key steps that it took in order to get there. Then I'm going to break them down at a tactical level, step by step, so you know exactly what you need to do to get to $20,000 a month online. Let's jump in. First, you need an offer. You need to price it. And you need to position it within the market. Most people have weak offers and weak pricing. So, their offer is too generic or broad, which means they're trying to appeal to everybody, but they actually resonate with nobody. There's no clear clear transformational outcome. So, they're trying to sell the features and what's included instead of a clear transformation of their target customer going from point A to point Z. they aren't able to articulate their offer in a way that raises its perceived value, its perceived likelihood of achievement and its unique value proposition within the market or even worse, they're selling low ticket offers. But this simply comes down to math. And if you're trying to make $20,000 per month and you're selling a $100 product, that means you have to have 200 yeses in order to make $20,000 per month. at a 1% conversion rate on a landing page, which is about typical of what I've seen. Maybe it will be a little more, but let's be conservative and say 1%. That means you're going to have to have 20,000 people land on a landing page every single month to convert into those 200 customers. And so, the volume of traffic on low ticket is extremely hard to sustain. and it's extremely hard to get, you know, 200 yeses every single month consistently. Versus if you're trying to make $20,000 per month and you're selling a $1,000 product, you only need 20 yeses to get to $20,000 per month. So that's onetenth of the amount of yeses. Or if you're trying to get to $20,000 per month and you have a $10,000 uh offer, then you only need two yeses and you're at $20,000 per month. And two yeses is onetenth the amount of 20 yeses. And it is all about who you're targeting because price is perceived differently based on somebody's income and their net worth. So a millionaire won't blink at $5,000, but somebody who's struggling to pay for groceries, that could be everything to them. It really comes down to who you are targeting and how much you are charging. And so you want to find the sweet spot between how big the market is and how much you're charging people. In order to solve these problems, you're going to have to do four things. The first is going to be you have to understand your customer at a deep level and you want to know their desires, their problems, their goals. Right? For me, I have a very clear understanding of who I'm trying to target and some of their desires. You know, they want more freedom. They want more time. Um they want to grow their business. So that's more sales, but they also want less stress. They also want authority, right? Influence. And the reason that I know this is because I am my own customer. I used to be my own customer and I've talked to loads and loads of people and I've been able to recognize patterns across these different people to really understand what these people's core desires is of who I'm targeting. So you need to come up with your own customers. What are their core desires psychologically, emotionally? What do they truly want in their heart of hearts? After you have their desires, then you can figure out, okay, what are their goals? And this comes down to numbers. So I know that my target customer wants to grow their coaching or consulting business from 10K up to $100,000 per month, right? They probably have other goals like they want to systemize the process, right? They want an evergreen um engine for sales and they also probably want, you know, a bigger YouTube audience. They want to grow their YouTube channel. They want to grow their Instagram channel uh to a specific number probably in the tens to hundreds of thousands of followers and not just for the followers but for the influence and for the impact that will have on their personal brand and their business. So once you have the desires, once you have the goals, you can figure out what is stopping them from actually achieving their desires and their goals, right? So for me, it's going to be, you know, some people have inconsistent lead flow. That's a big problem for business owners, right? Or people who want to grow businesses, they don't have enough traffic, they don't have enough leads. And leads are the lifeblood of a business, right? They don't have a conversion engine. They don't know how to convert eyeballs into sales and into customers. They don't know how to turn attention into dollars. That's been a big one, right? And you know, they might not even know how to deliver something like coaching or consulting because they've never done it before. Once you figure out these three core things, then you can start to think about your message to the market, which again, you're going to need three different parts to your messaging. Okay? You have messaging, positioning, and framing. Okay? Messaging is the actual words that you say in your marketing, in your content. So, I say words like freedom and time and fulfillment and impact and autonomy and authority and um revenue, cash, things like that because I know that's the way that my customer speaks and those are the actual words that I've used. And as I've had more clients, as I've talked with more people, I have noted down how are these people actually speaking to me so that I can speak back into the camera on sales calls whenever I can speak the same language as them. That is messaging the words that you use. But you also need positioning. And positioning is how you compare with your competitors. How are you specifically positioned within the market? And why would people see you as unique, superior, and new versus going with, you know, Joe Schmo over there, um, who is a direct competitor of you? And so, you need to position yourself within the market to have a unique angle so that you can stand out against competition. And last is framing. And so, this comes down to not only in your business and your value proposition, but also in content. For example, the way that I framed this whole thing was saying that I'd learned a lot of the stuff from Alex Ramoszi in the cohort. And because I did that, you clicked on the video, I got your attention, and now I'm teaching you the lessons of marketing through this specific lens and through this specific frame versus if I was somebody who was on the side of the street and I didn't have any credibility, you wouldn't even pay a single attention. You wouldn't listen to anything I had to say. So that is framing. And you actually need all three within your message. So messaging is the way you speak and the words you say. Positioning is how you compare in the market to all of the other competitors. And then framing is what is the actual lens? what is the um credibility that you have that you're speaking through that will actually get people to pay attention to you. Number three is offer scalability. And there is an inverse correlation between scalability and attractiveness. So here's what I mean. As an offer becomes more attractive, it becomes harder to scale. Not impossible, but harder to scale. So the example is done for you services. If you are telling somebody, hey, I'm going to give you this outcome and you don't have to lift a finger. I will do all of it. You know, that's really attractive for somebody versus if you're saying on the other end, hey, I'm just going to give you a do-it-yourself course, right? Then that person has to do all the work. And especially in the age of AI, you know, information is becoming a little bit commoditized. And so without the support, without them doing anything for it, it's way less attractive, but it's really scalable because the fulfillment is almost nothing, right? Or in the middle where you have done with you. And this is things like coaching, like consulting where you're getting one-on-one on a Zoom call or one to many on a Zoom call, but it still takes your time. So it's not extremely scalable, especially in that one-on-one scenario, which is why you see a lot of people move from one-on-one to group coaching once they have that demand in order to move to that process. And personally, one of my favorites is more of like a hybrid model, which can include do-it-yourself, done with you, and done for you aspects of this offer. So that makes it extremely attractive, but you also have that scalability baked in. And I'm not going to go in depth in this video about that. But I will have other videos in the future that talks about how to create an hybrid offer, which I actually believe is better than any single one of these. Okay. Next, you have pricing. And don't over complicate pricing. Okay. You want to be on the premium side. So that's above $1,000. And you can do something like an annual group, which is a 12-month group access for 1 to 10k per year, right? 8 to 16 week one-on-one coaching, 2K to 8K, 4 to 8 week cohort, $500 through 3K. These are generally in group forms, but you can also have an aspect of one-on-one in them. Or something like a 6 to 12month hybrid offer where you include group where you include uh one-on-one access. And these can be priced 2 to 10K. So next you have traffic. Forosi calls this the core four. So on the x-axis you have one to many on the left side and one one on the right side. On the y ais you have cold traffic which is people who don't know you and warm traffic which is people who do know you. So if we're looking at the bottom right quadrant here, what you can see is this is cold onetoone and this is known as cold outbound. This is things like sending thousands of emails, thousands of DMs out to people. And this is purely a volume game. Now, I do not love cold outbound because I believe it switches the sales dynamic and the power dynamic when you're chasing somebody and you're trying to get their attention versus when somebody comes to you and they're warm. Now, cold outbound still works and is very popular for agencies in a lot of B2B businesses, but like I said, the power dynamic is different and it's purely a volume game and it can get really complex with setting up all the DNS settings, warming up domains, email deliverability and all these different technicalities on the email side of things and the DM side of things. So, I don't like cold outbound, but it is a proven way to get customers. Next, you have onetoone, but warm. And this is warm outbound. Now, warm outbound is a great place to start if you are creating a new program or you are creating a new offer because you can just reach out to your friends or your family or people who you feel like you might be might be a good fit for your offer who are already in your network and present them to it. And that way, you have already built trust with them over time. And trust is a key to getting the sale. And so because they're warm and because you already know them, they have a higher likelihood of actually paying you if they feel like your offer is valuable to the problems that they have. Next, you have one to many cold. And this is paid ads. So these are things like meta ads, Facebook ads, YouTube ads, Google ads. And the best thing about paid ads is that they are predictable and they are consistent. Now, you can get customers predictably with paid ads, but the problem is these people still don't really know you. And so, when you're advertising to cold traffic with paid ads, you have to make sure your offer is really solid. It has to be optimized for cold traffic. You have to make sure that you know your messaging is dialed in, your funnel is dialed in. And if you run paid ads without your offer messaging validated and dialed in, then you'll most likely just burn a lot of money and you won't be able to get a return on your ad spend. So this is not a good place to start, but once you have something that's proven, when you put paid ads on top of it, it's like pouring gasoline on the fire. And then finally is warm one to many, which is content. And that is exactly what I'm doing right now. And it's things like posting on YouTube, posting on um Instagram for organic reach so that you build your brand, you build your personal brand over time. And because of that, you're warming up an audience at scale. So when you do make the ask for your business, you have people who already know you based on your content. And you know, this is why you see all the biggest entrepreneurs making out so much content right now because it is all about distribution and entrepreneurship. And you know, I've heard the saying that most founders, you know, first focus on product and then they realize actually what's more important than product is actually distribution. And so content is an amazing way to distribute your product. And this is why most content creators who have big reach partner with brands because those brands want the distribution and that content creator has some uh brand sponsorship with them or they get a cut of affiliate commission and they can have a mutual transaction um to both make money in the situation. So content is a super powerful and leveraged way to get customers, but a lot of people do it wrong. But if you learn how to do it right, you know, it is extremely powerful for your network. And that is actually what I have been leaning into. Now, no matter what traffic you use, you're going to have to do it consistently because leads are the lifeblood of your business and you need consistent lead generation. So, you have to dial in one of these formulas so that leads continue to come in. And then, you know, that's only the first part of the process after you have the offer is you need that traffic. No matter what method you use of getting traffic, of getting leads to your business, you're going to have to do it consistently. And in this cohort, Alex Heroszi introduced to us the rule of 100. So, let's check out exactly. I use something called the rule of 100. You advertise your stuff by doing 100 primary actions every day, 100 days in a row. Are you emailing 100 times a day? Period. Yes or no? If you're not doing it, do that first. And you might be like, "Wow, that's going to take me like four hours." Yep. And then you're going to have your workday start. Welcome to owning a small business. You have to know how to do more. And the first baseline that I want everyone to get through is doing a hundred a day because you will appreciate one, the value of a lead, and two, you will develop such a good skill set from getting that many repetitions in that you'll be able to transfer it and teach it to other people. And knowing how to make it rain as a business owner is probably the single most valuable skill that you can have because for the rest of your life, you will never worry about eating because you can always pick up the phone and make money. Yeah. So, I love I love that. And you know, Alex Herozi is all about working hard and, you know, grinding and putting in the hours and welcome to business. And I think that is what it takes for a lot of people. But for me, I'm more kind of like I'm just want to figure out what works and then work less and get more leverage and make more money and have more fun. So, we're a little bit different in that way. But a rule of 100 is essentially focusing on traffic generation for 100 minutes per day. And depending on what you do, if it's, you know, outreach messages, that's 100 outreach messages per day. If it's creating content, that's 100 minutes on content a day. And that is where your primary focus needs to be as a business owner in order to generate leads. So what we did to generate traffic was through YouTube organic. And YouTube, in my opinion, is one of the, if not the single best content platform to distribute your product, to distribute your offer on because one, you have evergreen videos, meaning on Instagram, on Tik Tok, you know, you can put out videos, but people swipe past those and they get buried in an archive and they don't resurface to the top. In YouTube, it has an evergreen library and people are constantly recycling and the algorithm is continuing to prop up new videos from like one, two, three years ago. And so this becomes an evergreen machine. And if you put out evergreen video content, then somebody can find your personal brand 3 years from now, go back to a video that you did, you know, a few years ago, and then still get value out of that. So this is extreme leverage. And not only does it have evergreen content, but it also has discoverability. So, YouTube is constantly surfacing new videos to the top of its algorithm. And even recently, they've had a change within the algorithm where you can look on the YouTube home screen and you'll see a lot of smaller creators being surfaced by the algorithm. And YouTube is doing that to give smaller creators a chance of getting viewed on the platform. And so this evergreen plus discoverability combination is so so powerful for leads and for customers. And then three, which might be the most important is YouTube because it's a long form platform. It builds deep relationships with customers. It nurtures people because spending time with people, spending time with people on YouTube like you're doing with me right now actually builds a relationship. while you're watching this, I'm probably sleeping or working out or working and doing something else. And that gives you extreme leverage. So again, YouTube, in my opinion, if you crack the code, is one of the most leveraged media platforms in the entire world. And this is really how I'm seeing, you know, the top creators, the top coaches are just dominating the market is by having really good YouTube channels, you know, which is why I'm making this video right now and why I believe you should, too. And it's also how we generated 65K in that 90 days purely through YouTube organic and a little bit of Instagram traffic as well. That is on the traffic side. YouTube organic, Instagram, and a little bit of ads. Now, I want to address a common misconception here, which is you don't need a big audience in order to do this, right? I have met tons of content creators with big audiences and they are broke or they don't have any money or they're struggling with income. And it's because it is not about the reach that you have, but who you are speaking to. Like I said earlier, price is relative to perception of somebody's net worth. So if you have in your network a bunch of people who are broke, then they can't even pay you versus if you have a small network of people who have a lot of money, they can pay you a lot. And so it's really about who you're attracting, who is in your network, rather than how big and what the volume is of your network. And I just wanted to prove this with an example because I had a vid one video with less than 300 views that made me $11,359. And in that video, I had a call to action to DM me on Instagram. The reason that I did that is because I want to text with somebody. I want to talk with somebody before I work with them to make sure they're a good fit and we can have an actual conversation, which you can't do on YouTube, right? And then soon thereafter, I got this text from a client. He said, "Hey, I came across your YouTube channel and was looking uh, you know, to launch a coaching program." And we ended up doing a deal together. I ended up uh, you know, helping him launch his coaching program. I think he made around 2530K from it. You know, he got like 50 people in in the initial beta round. And then from that, he paid me, you know, more than $11,000 just from that one deal. And I'm not saying this to brag at all. I'm just saying this to prove a point. Like it doesn't matter if you have a million followers if they're all broke, right? You just need a few followers and you need to have a good offer at a high ticket price point that gives you leverage and attract the right people through that content and then you can have one video with 300 views and make $11,000 on it. Once you have that traffic, once you have the offer, you need to be able to convert that traffic into dollars into sales, right? And here is where a lot of people struggle is they wonder, you know, why am I not getting sales? And um the the true reason is your leads don't trust you or they don't know your value because you don't know how to communicate it. You know, you don't have a real sales or conversion process. You know, you struggle to make consistent sales because the offer is bad, the leads aren't consistent, or you know, a lot of people are still using these high pressure closing and sales tactics. And frankly, today we're in a time where people are kind of sick of being sold to. And so all these old methods of getting on a phone and then closing a cold lead for $10,000 through fake scarcity and urgency, those days are completely over. Now, what we learned in this cohort was something called the community funnel where you put your traffic, you put it into a free school community, which I'll get to in a second. You give them the offer, and then that offer becomes a client. Right? Now, the free school community is an amazing way to pre-nurture, pre-sell your audience. you can attract, nurture, and convert them within a free school community. And I believe it is the single best lead magnet you can have as a creator, coach, or consultant right now. And in fact, if you want to see how a free school community works, you can go in the description and you can jump into my free school community and we can have a conversation in there. I can get to know you. I can see if I can help you. If not, you can just go in there and you can check it out and see how it all works. But what I actually found was that although this worked and I have generated hundreds of thousands of dollars through this model, I actually believe that not everybody wants to be in a free school community and not everybody is on the school platform all the time yet. I think as the platform grows, more people will be in there consistently. But because many people will not spend all their time in school, that means potentially people could join your school community and then never download the app, never get in there again, right? And then they would just be on other platforms. So instead of relying on only the school community to attract, nurture, and convert. I've actually found a very unique process that I haven't seen anywhere else. And I'm calling this the community flywheel. So this includes the school community, right? But it also includes short form to attract and so that you can DM people like on Instagram. Long form which is YouTube so that you can nurture people and build deep audience relationships with them. Community so you can get their email. You can get their phone number. You can jump on a call with them. You can present a webinar or workshop in there. And then finally a client. And when you turn somebody into a client and you actually deliver results and you get them a case study, you actually remarket that on your short form and your long form. And so this whole thing becomes like a flywheel. So this whole thing becomes like a compounding flywheel and a compounding asset within your business. So you're not just shoving somebody down a one-way funnel anymore. You're not forcing anybody to get on the school platform. You're not forcing anybody to get on Instagram. You're not forcing anybody to do anything, right? You're putting somebody in a flywheel or an ecosystem. You're giving them options for these different platforms. And that way, you're actually creating an omniresent personal brand so that you are in their minds across these different platforms constantly. You're sending them emails, you're sending them YouTube videos, you're sending them resources within the community. You have short form content to um attract them and to get their attention. And so by doing this, you're actually building multi-channel trust and you're creating this compounding flywheel effect in your business. This is what's working the best right now. So for example, if somebody finds you on Instagram and you start having a conversation with them and you try to jump on a sales call with them, well guess what? They haven't spent much time with you because they're only watching your short form content, right? So they're not going to trust you. they're going to have a lower probability of converting into a customer versus you're having a conversation on Instagram and you have digital assets within your YouTube community that you can send to them. Then they're going to be able to consume more content of you and by the time that you hop on the call, they're already pre-urtured, pre-sold. And if they're in the community, you can go even a a step further, you know, and that is really how you sell leads without having to be super salesy, without having to have all these high pressure sales tactics, right? You have a flywheel, you have an ecosystem. So when somebody comes into your world, they have all these different options and you know you're providing value in all these different ways. So this not only applies to content, but when you have a lead, right, you can sell something that's lower ticket to them like a digital product and the digital product is not the core business, right? But when somebody spends money with you, when somebody buys like a $50 product, a $100 product, a $250 product from you, then they have a higher probability of becoming a high ticket client in the future. So while selling digital products is good, it should not be the first thing that you're actually selling. The first thing you should sell should be expensive. And then if you have the time, then you can sell something low ticket as a gateway for somebody to get into your world so that they have a higher probability of becoming that high ticket customer in the future. Now, a lot of people get this wrong where they're selling something low ticket, they don't even have a high ticket offer, but they struggle to make 20K per month because, you know, they don't have the high ticket offer in the first place and they don't understand the volume that it takes on a low ticket offer. So, once you once somebody buys a low ticket offer, that is when I consider them a customer. That's when somebody jumps from a lead who hasn't given you money to a customer which has given you a little bit of money. And then you can jump on a one-on-one sales call or a webinar and then pitch them the higher ticket price. Then when they become a client, then they give you, you know, the $2 to $10,000. And after they become a client, that's when the real transformation happens if you're good and you can turn them into a case study. And then what happens when you turn somebody into a case study? You use it, you use it for your marketing and you use it to generate more leads so that people become more interested within your business. So, not only do you have the content flywheel from short form to long form to community, but you also have the client flywheel, which is lead to customer to client to case study. Okay? And this is how you create compounding effects within your business. Now, that is how you do the conversion engine. So, to sum this up, right, you need a premium offer, you need a traffic source, one of the core four, the rule of 100, and you need to do this consistently and start on YouTube organic if you haven't already. And then finally, you need a conversion engine. And ladies and gentlemen, that is how you make 20K per month. And so, I hope you found this video valuable. Again, I have the free school community in the description below. Give me a follow on Instagram. I'd love to connect with you. Love to meet you more. Hope this was helpful. Have an amazing day.