Last Updated on January 27, 2024 by Matt Zavadil
Matt Memo #4 – 11 minute read
Video Version of Memo:
Building a business is hard.
Anyone telling you it’s easy is most likely trying to fleece you of something.
Probably a large amount of your hard-earned cash.
I get why the “get-rich-quick” sales pitch works.
Inside of each of us lurks the desire to see things happen quickly.
Most humans fall for the deception that says:“Matt, you deserve to get easy riches. Why should you work hard when it seems like people left and right are setting up shop and going from 0 to 60 in 2 seconds?”
Let Me Tell You a Story…
Back in 2004, I went online and found this guy selling a program called “The Lazy Man’s Way To Riches”
His pitch made it sound like all I needed to do was buy his program, and I’d suddenly start making Internet riches.
I fell for it hook, line, and sinker.
The program ended up simply being a tutorial on how to set up a website.
The technical aspects of:
- Buying a domain name
- Getting it hosted
- Putting it online.
Being green to the art of marketing at that time in my life, it sounded good.
But, it was only the beginning of my education.
The program didn’t teach me the essence of successfully building an online business, which I’ll teach you in just a moment.
Instead, it played into my natural humanistic greed.
It played to my emotions.
Emotions that convinced me I “deserved” to somehow magically go from 0 to Six Figures without putting much effort into the process.
When Expectations Veer Into Delusion
I started off saying it’s hard to build a business.
The statement is true whether you’re building:
- An affiliate marketing business
- A high-ticket coaching business
- A network marketing business
- Or any other type
Recently, while onboarding one of our clients, I ran into an unfortunate situation.
After laying out the amount of effort she’ll need to invest into installing her next marketing channel, she told me, “I have no intention of doing that.”
We were on Zoom and her words stopped me in my tracks.
I don’t usually get stuck for words with clients, but in this case I was a bit stunned.
I hesitated a moment, gathered my thoughts, and I finally said something along the lines of,“Can you elaborate on that for me? What do you mean by that exactly?”
She then threw another zinger at me:“I don’t have time to work on marketing like that.”
Now, remain mindful of the fact that she came to us saying that she needs help because she’s not able to find enough clients to support her income goals.
I asked her how she expected to improve her traffic, leads, and sales if she’s not willing to invest time and effort into the marketing side of her business.
She didn’t have a very good answer and it’s one I’ve heard many times over my coaching career.
She said that she should be able to simply put the word out and the people will come to her.
This is delusion.
It’s not the thinking process successful business owners move their minds through.
Have you ever tried to lose weight?
What would your family and friends say to you if you said, “I’m not going to change how I think about food, I’m not going to exercise, and I’m definitely not changing my intake of Doritos and Reeses Pieces.”“But, I’m going to lose 25 pounds in 6 weeks.”
Your loved ones would probably look at you like you’re from outer space.
But that’s like saying, “I expect to start my business today and begin earning $30,000 per month within the next 30-45 days.”
It’s delusional to think this way.
It’s unhealthy because it leads to believing you’ve failed at the endeavor when you don’t hit that mark.
A healthy way to approach how you build your business is to go in with the proper expectations.
That’s not easy to do, however, because much of the Internet messaging is filled with messages like: “How I went from living in a van to making $20K per month in 60 days”
Typically, the true version of that story is one of:
- years of trying,
- failing forward,
- learning why things didn’t work,
- then failing forward a bit more,
- then finally hitting success.
It’s something us old dudes used to call the School of Hard Knocks 🙂
Learn How To Install a Converting Marketing Channel
I can speak from experience and say that learning the numbers behind running an online business cures mis-aligned expectations.
I’ll teach you some of the most important numbers in just a moment.
First, let’s talk about what I encourage you to focus on before you start tracking numbers.
Because you can’t track numbers until you install your first authentic marketing channel.
What I see is too many people using random marketing methods.
For example, starting all the social accounts like:
And randomly posting:
- or sayings
- or statistics
- or various tips they randomly pick up from others
Before you worry about any of that, go back to the basics of what creates a successful business.
And this part is super simple.
There’s 7 steps.
1) Identify the problem you’ll solve for others
2) Figure out who needs that problem solved
3) Research the pain points, goals, and needs that go through the minds of the people who need that problem solved
4) Decide on the product type that will help you solve the problem for others
5) Craft marketing copy (your message) that digs into the pain points, goals, and needs of the people you’re helping
6) Set up a marketing channel that allows you to get your message out to the people who want to solve the problem you’re fixing
7) Point them to how they can purchase the product type you’re selling
Here’s How This 7-Step Process Looks Like In Real Life:
Let’s say you have expertise in woodworking.
It’s your passion.
You have a skill you can teach to others.
Let’s go through our list:
1) You decide to solve the problem that newbie woodworkers face:
- They don’t know which tools to use
- They need to learn what a crosscut is and why it’s different from a pilot hole
- They need to learn about the types of wood to use
- Processes like sanding, cutting, and turning
- How to select a good board
Basically, they need your expertise so they don’t make the same mistakes you may have made and can shorten their learning curve to mastering the art of woodworking.
2) You decide to market your solution to people like
- Art and craft hobbyists
- Home renovators
- And other similar sub-niches
3) You research pain points like:
- Lack of skill
- An inability for many to visualize a completed project
- Launching a woodworking business
- Maintaining their tools
- Step-by-step instruction
- Feedback on their projects
4) You decide that a course with 12 weekly modules and 12 Q&A coaching calls on Zoom is the product you’ll create to serve your target audience
5) You start crafting marketing copy that helps your audience realize that you understand their pain points, goals, and needs
6) You decide to use YouTube and a blog as your initial marketing channels. The blog will allow you to lay out tips like plans and tool requirements, while your YouTube videos allow you to teach via tutorials.
7) You create an online sales page on your blog and point your blog readers and YouTube watchers to it so they can buy your coaching program.
NOW You Can Start Tracking Your Numbers!
You need to know how many blog and YouTube visitors are required to start earning the income you dream about.
This is the part that prevents so many good people from succeeding.
They don’t know the numbers of running an online business.
For example, have you ever posted on Instagram for a couple months only to become dejected that it didn’t turn into income?
Or, put up a few TikTok videos with no tangible income result?
While it most likely goes back to not understanding how to correctly perform Steps One, Two, Three, and Five I gave you above, you also didn’t keep going because you probably didn’t understand the numbers.
For instance, if you become great at converting blog visitors to leads, you can reasonably expect to convert 4-10% of visitors onto your email list.
Let’s say when you’re starting out you grow to only 350 visitors per month in the first 3 months.
That means you might start generating 14 to 35 leads per MONTH.
If you’re selling your coaching program at a high-ticket price of $2500, you can reasonably expect to have 10% to 20% of your leads convert to a sales call with you.
That means you might get 3-7 people to book a call if you’re at 35 leads a month.
You can reasonably expect to close 15% of your sales calls when you’re getting started and don’t have great sales skills yet.
Let’s say you’re generating 7 sales calls per month.
That means you should close 1 sale per month and earn $2500 per month.
And you might go a month or two and close 0 sales because you’re still learning.
Here’s the thing:
Most people will quit too early, hopping on some other shiny looking money-making gimmick they see pop up on TikTok because they think they’re failing at their new woodworking coaching program.
You’re not failing, though.
You’re growing into success!
A year later, your blog is generating 350 visitors a DAY, or 10,500 visitors a month.
Let’s say you’re converting 525 (or 5%) of those 10,500 visitors to leads.
You’re converting 50 (or 10%) of those leads to calls on your calendar, and 40 of them actually show up for the call.
You’re doing 10 calls a week, or 2 per day, and you’re closing 25% now because you’ve gotten better at sales over the last year.
That means you’re closing 10 sales per month and earning $25,000 per month.
Your life has changed drastically without being a superstar.
I mean, most people will scoff at only 10,000 visitors monthly to a blog.
But you’ve learned to:
- Match the right offer
- At the correct price point
- And using logical and doable numbers…
…you’re earning more in two months than some people make in one year.
In a weird niche like woodworking no less.
Why did you get there?
Because you took the time to understand that you’ll never close anywhere near 100% of the people in your audience.
And you don’t need to.
You simply need to:
- Have patience
- Keep at it
- And stop going into business ideas with “out of whack” expectations.
You’re not going to make $25,000 next week, but you can get there a year from now.
Even if you’re half as good and you’re at $12,500 per month in income next year, was it worth it to free you from the job you might hate?
Now, you’re free from something you don’t like doing and can invest 8 hours a day really improving your sales and marketing skills.
And you can do this no matter your interests.
I’ve coached people into this method in niches like:
- And countless others
If you have some level of skill at something, you can make money from it by following the 7 steps I gave you above and sticking with your chosen marketing channel until you’re earning life-changing income.
It works the same whether you choose:
- Paid ads
- Email marketing
- Or partnerships
as your marketing channel…
Each channel has basic math tied to it like I gave you about blogging.
Learn the math of the channel to set your expectations in the area of “reasonable”
And then get to work.
But what if you don’t know if you want to be a coach or build your own product as the answer to #4 in the list of seven steps that I gave you?
There are no excuses because something called affiliate marketing exists!
Let me give you the numbers of an offer I use as an affiliate, where I market someone else’s program.
I sell a product called Attraction Marketing Formula that helps network marketers avoid the silly and annoying “friends and family” marketing.
It teaches networkers how to sell their product and MLM opportunity by becoming a “real” marketer.
It basically teaches them how to apply my 7 questions I’ve given you here to their network marketing deal.
Well, I know that I close about 5% of the leads I generate for the Attraction Marketing Formula.
Some months it’s 3%, other months it’s as high as 11%, but it averages right about 5% and that’s what I base all my projections and expectations on.
I don’t get upset because I can’t close the other 95%.
I just know the numbers.
And I “work” the numbers.
If I want to sell 30 per month, I know I need to generate 600 leads per month.
If I want to sell 2 a day instead, I know I need to generate 1,200 leads per month.
Back when I started promoting it and I was only generating 200 leads a month and only selling 10 per month…
…I didn’t get mad or upset and start looking for something else because it didn’t work.
I knew the numbers of online conversions going in.
And I keep working the numbers as I continue to build my online traffic and lead flow and point those leads to that offer.
I’m running my affiliate marketing business based on math, not emotions.
And that’s all YOU need to do.
You can settle down, stop chasing one thing after another, thinking you’re failing…
…when you probably weren’t failing…
…you just hadn’t given whatever you were doing the correct amount of time to grow until the numbers worked in your favor.
If I had a Ben Franklin bill for every time I’ve heard a client say, “it ain’t working” over the years, I wouldn’t need to do anything else LOL
When I hear those words, I ask, “Show me your numbers”
The math, not your emotions, always tells the story between winning and losing in business.
I titled this Memo: If I wanted to go from $0 to $7 figures in 3 days, I’d do this…
Well, if I wanted to accomplish that, I’d learn how to rob one of these:
Seriously, I don’t know how else to do it.
But I’m assuming you want to remain honest and ethical and build a business the correct way.
So start learning the math of your chosen business direction.
Stop trying to “play the lottery” or take shortcuts or “rob banks.” LOL
You can do this if you:
- Fix any mindset issues
- Develop your sales and marketing skills over time
- Understand the numbers
- And never quit until the numbers work in your favor
I know my message isn’t as sexy as the guys telling you they’ll show you how to make $30K in 30 days…
…or whatever nonsense marketing ploy some of these people put together.
That’s deception staring you in the face.
And what did Jesus warn us about in Matthew 24 when speaking of His Second Coming?
He said, “Take heed that no man deceive you.”
There is deception all around us today in all areas of our lives.
And there’s no bigger deception than the unscrupulous marketers promising they’ll make you rich in 30 days without lifting a finger.
If you listen to that stuff, it’s like trying to beat the Vegas casinos.
You might get lucky here or there.
Make a buck or two.
But you always end up on the losing side at the end of the day.
Build a real business.
Go in with the right expectations.
Know the numbers.
Work the numbers long enough.
And I often get asked, “how long is ‘long enough’?”
I don’t know because I don’t know how hard you’ll work when you’re tired.
I don’t know how many Saturday nights you’ll give up and not get distracted by goofball friends.
I don’t know how many sports games or Netflix shows you’ll turn off to work your business.
What I do know is that if you work hard, know that building a business isn’t easy, and keep at it, you’ll make it work in your favor.
Again, my prayer today is that my ideas here help you in a meaningful way.
And if you’d like to explore other ways I can help you, take a look at the Attraction Marketing Formula if you’re a network marketer.
If you’re working on an affiliate marketing business, take a look at our 15-day challenge.
And if you’re either of those, along with being a high-ticket course creator or coach, look at my DFY content services, as they will speed up your results with either my Business Audit and/or Content Roadmap.
See you in my next Memo with more exploration into the skills that will drive more leads and sales for your business.
Helping you build it big,
P.S. Here’s how I can help you grow your business:
The Fastest Way To Use Affiliate Marketing: The Insider’s Guide
The Fastest Way To Grow a Team to 1000+: The “Secret” Leader’s Playbook
The Fastest Way To Master Social Media: The 15-Second Method
The Fastest Way To Produce Content: I’ll Do It For You