What is the direction you are taking your business in? Are you confident in your strategy and approach or do you need to look at things from a different perspective? On this episode of The Amazing Seller, you’ll hear from Scott as he gives a peek behind the curtain of one of his strategy calls. In his recap of the strategy call, Scott explains how it can be helpful to leverage your passion to build your business, why you need to understand your weaknesses and limitations, how your brand can get an edge over the competition, and so much more! Don’t miss this great opportunity to learn from Scott’s coaching!
Build your brand off of your passion!
One of the best ways to build a business you can be proud of is by building it around your passion! Does that sound too good to be true? It doesn’t have to! While it may be difficult, depending on your passion, this is the best way to build a business that can go the distance! Let’s face it, people can see right through a superficial and uninspired approach. Make sure your business doesn’t disappear into the crowd of competitors, let it stand out! Learn more about leveraging your passion to build your business by listening to this engaging episode of The Amazing Seller!
It’s OK to get an outside perspective.
It can be kind of uncomfortable letting a stranger poke through your business plans and strategies, but it can be one of the smartest things you could ever do! While it’s not ideal, businesspeople have learned that getting an outside perspective can make all the difference. Is it time to let a trusted mentor or an accomplished professional take a look at your business model? What do you have to lose? Scott is so confident in the value of this approach that he's built a whole subsection of TAS around it! Hear more about Scott’s work with the TAS Inner Circle and why it may be a good next step for your business by listening to this episode!
Don’t fall for shortcuts!
Remember when you were a kid and you always looked for a shortcut so you could get back to what you really wanted to do? That type of thinking left once you became an adult, right? It’s so hard to resist the appeal of taking the shortcut in life but the truth is, most of the time, it’s worth taking the long route! If you want to build a long lasting ecommerce business that will continue to provide income and profits for you years from now, you’ve to get be willing to leave the shortcuts behind. Make sure you listen to this episode of The Amazing Seller as Scott stresses the value of putting in the work necessary for success and kicking shortcuts to the curb, don’t miss it!
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:03] Scott’s introduction to this episode of the podcast!
- [4:00] Sometimes you have a successful brand that bankrolls your passion project.
- [10:00] Why it’s important to know your limitations and shore them up!
- [13:00] An outside perspective can help you identify your blind spots.
- [15:30] Does your brand have the right angle on your niche market?
- [18:00] Scott talks about how he builds a robust brand.
- [22:00] Don’t fall for shortcuts!
- [24:30] Closing thoughts from Scott.
TRANSCRIPT TAS 560
TAS 560: TAS (Strategy Call Recap) $500k Per Month Business Owner and MY Advice to Grow 2X[INTRODUCTION] [00:00:03] Scott: Well hey, hey what’s up everyone! Welcome back to another episode of The Amazing Seller Podcast. This is episode number 560 and today here's what I'm going to do. I'm going to… [read more=”Read full transcript…” less=”Read less”]
…go ahead and recap a recent conversation that I had with now one of my private clients, someone that I work with individually inside of our Inner Circle and I'm going to explain to you how this whole thing unfolded but I'm also going to tell you and kind of share with you the advice that I gave him.
Now just to let you guys know this guy is doing really well and I think there's one thing we want to take away here during this conversation is that even though you think you're doing really well you can always do better. And not just do more but you can get a little bit more focused, you can get a little bit more clarity or you can rely on other people to do more in your business. A lot of things that we talk about in the PACE method and you're hearing me talk about that quite a bit lately because it really makes a lot of sense
But what I want to do here on this podcast is I want to share with you the advice that I gave him. Someone that's ding $500,000 per month in one brand by the way and I believe he's got three but he's got two main ones. The second one is doing just under $100,000 and I'm going to kind of break down his business for you in a sense and then talk about what I did as far as giving him advice and the way that this works just to kind of let you guys know, you guys hear me talk a lot recently about the Inner Circle or our mastermind and that's basically the closest that we are to being a partner in a business without actually partnering in the business and grabbing equity.
It's where we're able to go in there, I say we it's myself and my team and anyone else that's in the Inner Circle. We kind of come together and help each other with all of our resources. To really try to take the business to the next level, 2X it, 3X it or even quadruple it in sales but also make it easier to run or do more of what you want to do and less of what you don't want to do.[00:02:06] Scott: And a lot of times that's what it comes down to when it comes to these certain levels. But if you are listening to this, I'm going to throw this right out there, if you're listening to this and you're at that level where you feel like you’re at that ceiling or you're not really sure how you're going to maybe secure your brand off of Amazon which a lot of our inner circle members are doing right now, that's what we're working on but if that is you and you're over $350,000 in revenue per year, not month, per year… This guy just happens to be crushing it but if you're at that level and you wanted to become part of our Inner Circle where I'm able to meet with you three times a year, my team is able to help you and we're really able to focus on your brand and really your direction.
If you're interested, you can apply by heading over to TASinnercircle.com, that's TASinnercircle.com. And you can check that out. Again, this is for only established brands. If you're not at that level, then I would say go through all of the rest of the training. Go through PACE, see where you are at in your business, see where you can start to focus on improving and growing the brand, theamazingseller.com/pace would be a great resource for all of you to go through. No matter what stage you are at in this business.
So let's get started. So this call started off like I said as a strategy call. That's kind of how I do it with anyone that is applying to be part of our Inner Circle. We get on a strategy call and then I basically give them an hour for free and I just help them. I basically just go through their business and tell them exactly what I would do at the stage of business that they are at and from there then they can decide after we kind of go through everything if they want to become one of our inner circle members and that's kind of how it works. So this was the conversation that we had.[00:04:00] Scott: So the first thing that I always ask is okay, what do you want? What do you want to achieve? And a lot of times I'll hear a whole bunch of different things? It's like well, I want to grow my team and I want to launch 100 more products and I want… It's always a lot of things. And what I have noticed is that's a common thread but also that what we need to do is really focus on the areas that we can improve the fastest and also the ones that are going to move us in the right direction. So this way here we're putting all the energy or a lot of the energy into the direction we really want to go.
So what we established here was number one, he has two brands that I'm working with, with him. One of them is a cash cow meaning that is the one that is bringing in a lot of the cash. Now the other thing that we discovered is that in the second brand this one here is more of his true passion project. One that he started after the first one which if you guys had ever heard me talk about this, you're going to hear me say it again. Sometimes you have a business that supplies cash to allow you to do the thing that you really want to do. It's just part of the process.
You learn through building the cash cow but you're also then feeding that business to continually grow it so it can continually feed you and your business and your family or whatever. But it also allows you to them start this other thing that you've also learned a ton of stuff by building the cash cow. So there's a lot that goes into that. I see that a lot of in successful businesses. Not necessarily where you are today is where you are going to end up tomorrow but you learn a ton through this process. So you have a cash cow business the one that's producing all the cash and then the other one is producing cash not as much but it's really more of what you want to work on.
So that's what I established. Now the cool thing here is this is one big thing that I discovered, and I always look for the quickest wins.[00:06:00] Scott: Like what are the quickest wins? Well, the cash cow brand, the one that's brining in all the money it's only on like the international market right now or mainly the UK I believe and not even in the US yet. I take that back. I think they launched a few SKUs in the US but really didn't put a lot of focus on it. So that’s like low hanging fruit. Like maybe we should probably focus there a little bit because we already have all of the product. All we have to do now is just get it on the US side and then we have to then go through our marketing as far as like launching it and pay-per-click and that type of stuff.
So that's kind of like an easy win. So that was one of my recommendations. Like okay, let's just take over, take this stuff over here, bring it over here and build up the awareness of it and also the search traffic and pay-per-click. Let's do that stuff. And when you're at this level too by the way, you have a little bit more resources to work with. So doesn't mean that that person has to do the work. You can actually hire someone to do some of those other pieces. It might be having someone come in and manage your pay-per-click. You might be able to have someone do that.
Or maybe you're going to be able to run some Facebook ads to bring awareness to it to run a discount so you can drive sales that way. Or maybe you can pay an influencer more than you normally would have been able to because you have a little bit of extra money in the business. So this way here we can push some of that money over here. That's what I think a lot of people don't understand too. It's like when you're growing and scaling, it's about taking some of that money and reinvesting it but also into pushing out in other directions and then that's how you can grow.
But a lot of us we want to hold on to the money because we came from not having a lot of money. And that's a common thread with entrepreneurs. It’s we want to hold on to that money. Now, I just want to again, highlight this.[00:08:00] Scott: One business may just be the path to pay for the new business or the new brand. I just want you guys to understand that. One business that's working today, not saying kill it, at all but that business might be the ticket to get you to where you want to go eventually. You might not even see it right now. You might not even see that opportunity because it hasn’t presented itself yet. But you're building this business. It's in the process as you're building to me it's fun but then there comes a time that you’re like, okay, is this honestly what I want to be doing for the next five years?
Then if the answer is no, but it's providing money to you and your families or the employees that you've hired or whatever you got to keep that thing going and then you can ask yourself do I exit this eventually? And in the meantime, can I take some of that money and build this other thing? So that's kind of where we are with him. He does have the resources to be able to do this. He has already started that second brand. He does have some momentum. So we can build upon that. So now the other thing that I noticed, and it's not that I noticed it but I asked the right questions. I asked, I said, “Okay what do you feel like you're good at and what do you feel like you're not good at?”
I mean it's really that simple. You like you ask these basic questions yourself and a lot of times you'll answer those questions and they are going to be usually the right answer because your mind is going to say, hey, answer this thing. So the first thing that he said was I'm really good at product creation. I mean, the guy has grown two pretty successful businesses. One of them doing $500k per month, another one doing almost $100k a month. The guy is good at creating good products. These aren't just like a widget that he's going to…? These are like good quality, he's figured out the manufacturing, he's got the supply chain. He's got all that stuff down.
What is he not good at? Let's call it that because bad sounds bad. We don’t want to be like that[00:10:01] Scott: But what isn’t he good at and the first thing he said was marketing. I'm just not a good marketer. And I'm finding that that's a common thread especially if you launch your business on Amazon, you're actually, you're skipping ahead of really being any kind of marketer because what you're doing is you're just seeing what the market is buying and you're going after search traffic because you're going to a search engine for buyers which is awesome. But you really don't have to figure out marketing. You don’t even really have to figure out 100% who your avatar is precisely.
You just have to know like what are some search terms that are being searched for and then get in front of those people. So you don't really have to do a lot of marketing. See I came from marketing in my previous businesses that I built even going back to brick and mortar and it's about attention getting marketing. It's not necessarily just about search traffic or what type of search phrases or SEO or any of that stuff. It's different. So there's different sides of marketing but in this case when you're just launching on Amazon we're just figuring out that one channel or that one style of marketing.
Which really I don't even look at it as a lot of marketing or like we have a couple of core things. We have a good product, we have a good listing, we know that we need to get a certain number of sales to rank. Once we rank, we can then start to get traffic organically, we can run pay-per-click. Like that's basically it. Like there's not a lot of other things that we need to worry about. When we talk about marketing, there's a whole bunch more we can do and then it gets exciting because then we can start to explore and become also better at marketing than our competition.
That's where you get that leg up. So it's obvious he's coming to me for that side of it. So it's like Scott I've got all this stuff and it's doing really good. I know I could do better if I had marketing chops.[00:12:01] Scott: So, I get excited because I'm like, okay, I know a few things about this, I see with what you're selling, I see what we can do, I see that we can create a couple of different angles. So there's all of that stuff that happens once I'm able to see the business as a whole. And sometimes as you’re in the business you don't see all of the different things that you can do outside of just being in the business. So that's why it's really cool to be able to go through these calls. And whether or not someone joins our Inner Circle which is really right now they are held to a small, small group of ten or less.
And the reason why we do that is because we work closely, I say closely three times a year, we get together two days straight so eight hour days. We work 100% on your businesses and then from there every single month we jump on a zoom call and then we check in and then from there we also have a slack group so it's pretty hands on and we do roll up our sleeves and get in there. But obviously it's up to the people that we're helping to go out there and implement what we're saying and suggesting to do. But a lot of times it's not a whole bunch of stuff, it's just like let's do this.
So the next question then always comes into okay, so what to do first and why? And so I'm always looking at like quick wins and low hanging fruit. And like once we have a brand that's established and that has some momentum there's a lot of cool things that we can do that can bring in money without a lot of effort. Because we have that momentum. It's funny, Chris Shaffer and Joel Bauer like those guys get on a call with all of our Inner Circle members the very first week and they go over numbers, it's a numbers call. And they're looking for little cracks or little things that are not shored up.
And this way there we can make sure that you're getting as much profit as you can out of your current business without touching a thing really. And they've done that on almost every single time, people walk away and they say wow, okay, I think I just made back the investment for the inner circle from doing the numbers call.[00:14:08] Scott: And we haven't even done anything really yet. We just kind of like looked at it differently with a little bit more of a focus on profit. And how we can make sure we're doing things correctly or even if we're just looking at a pay-per-click campaign that isn't quite 100% fully optimized and you look at what you could be doing versus what you are doing and then you know that that will bring in more revenue. So whatever it is, we want to look at those things. It's low hanging fruit. So in this case brand number one, the $500,000 cash cow that one there we said well immediately we got to go launch on Amazon.com.
Perfect. It's easy. That's what we're going to do. So that's like number one, that's what we're going to do, we'll instantly probably be able to see some results from that so that's awesome. Number two, we want to build awareness, we want to get attention through Facebook ads, through a list, through retargeting for brand number one and brand number two. So it's basically the same strategy it's just we're going to be applying them to two different markets, two different niches. So then then the other thing that we discussed was finding the right angle. Because when you're doing attention grabbing, marketing or attention getting marketing, you're not necessarily going after the search, you're going after disruption really or the attention or grabbing the attention.
So we can do that in a couple of different ways. We can do it with frustrations that people are experiencing and then demonstrating that through a video ad on Facebook or we can do a coolness factor like wow, that's me, that's awesome. I didn't think of that. That's a really cool thing. I'd love to have that. But again, it's targeting the right people and then putting in in front of them a common frustration that they would have if your brand allows that or a coolness factor.[00:16:00] Scott: Now the thing that we were able to do in through this just one 60 minute call, is that there's definitely a couple of different angles that we can go and that's what we're going to start to do. It's we're going to start to build these little campaigns that will allows us to grab attention of our ideal customer by using a frustration and a coolness as I call it kind of like video that will demonstrate this. Then that will grab the attention and then that will bring them into the brand and then from there the minute they bring them into the brand or we bring them in then we can do other kinds of things.
We can then retarget them because we can pixel the page that they landed on and all of those cool things. But we first have to have like what are we going to create as an angle for the market. The other thing that we talked about was on Amazon is the search keywords. We want to optimize for these because remember the listing that he has or the listings that he has on Amazon.com, those aren't really even being used. He just put them up there and said I'll get to it when I get to it and never really did. Now what we have to do is we have to make sure that everything is optimized, we have to make sure that everything is ready to go.
So when we start driving traffic there then we're going to be able to capitalize on that the best way possible. So again, that's what we're going to be doing there, that's again the first thing we're doing it. And then the other thing is pay-per-click and then building that list and we'll be doing that so this way here we can drive traffic over to the new listings even though he has a lot of sales, ton of sales in the UK it doesn't mean that that's going to help us in the US. So we have to basically not start from scratch but kind of. But we have everything else kind of in place.
So that's like what to do first and why, that's it. Right there. So that was like it's pretty simple, there's some key things that we have to work on, we have to figure out but once we have them, we deploy them and we're off to the races. So, the next thing that we discussed was okay, what next?[00:18:01] Scott: After we go through these things now what? Well, let's talk about the passion project. And that immediately got him lit up. He's like yes, okay, let' talk about that. So immediately I knew just from talking to him that that there was really important to him. It also is going to make the process of going through and creating content, lead magnets, useful guides, videos, this second brand will work a lot better than the first brand. The first brand is a little bit trickier because it's kind of selling a bungee cord. It's like okay, it's not really something that I feel we can build a ton of content around but maybe we can do something for a frustration piece or maybe we can do something that we can create a different spin on the bungee and how it's being used.
Like that stuff. But the second brand there's endless ways that we can basically go out there and create content and the lead magnets and useful guides and videos and just really, really cool stuff. Then what we can do, once we get all of that stuff in place, we're not going to do a whole bunch, we're just going to find probably to start three to five pieces of content that we can create to get attention and then what we're going to do is we’re going to post it on social media and we're going to drive paid and free traffic to those pieces. Here's an important part that I want you guys to take away from this and I know I'm kind of doing this like a fire hose because that's kind of how I work but we're going to break all this down and chunk it down.
So this way here he can go and deploy all this but then what we do is we want to always have a Facebook pixel on all parts of our website, our landing pages, any place that we're sending traffic, whether it's paid or free, we want to start building a custom audience in Facebook. I want you guys go understand that there's so much power in having one of your potential customers whether they are on Amazon or not. Someone that was attracted by a piece of content that you put out and if you can have them land on a page they're immediately pixeled if you've put that pixel on the page.[00:20:03] Scott: And then from there we can have that custom audience sit there in Facebook and we can use it whenever we want. We can retarget those people with relevant content, new content, promos, any of that stuff and the other cool thing is now we can take that custom audience and say hey Facebook, find me more people that look like these people. And then we can create that look alike audience. So you can see here just in an hour's time everything that we discovered by this one call and for me personally it's so easy to start to identify this stuff because I've done it so much but this is really what gets me excited and that's why I decided to create our inner circle to be quite honest with you
And here's the other thing. It's not for everyone. It's not for people that are just getting started and the reason is because you still got to get yourself up and running to have some of these pieces in place to give yourself some momentum, to build yourself a mini cash cow where it can feed your business so you can start to explode these other things. If you don’t have that revenue coming into the business you can't do some of these other marketing things. So my recommendation always is yes, why do we want to start on Amazon? Because it's pretty easy way to get started with the least amount of resistance.
Once you get yourself up to where you're doing $20,000 or $30,000 per month then we can start to explore some of this other stuff and you have some assets in place now that we can start getting creative with. So I just want you guys to understand that if you're listening to this and it seems like it's way ahead of you, don't let it feel that way. Just understand that you're just that one part of the journey and you just have to keep moving. So this way here you can get to the second part of the journey. Everyone starts at zero. And the thing is you got to have the right mindset, you got to have the right people that you surround yourself with.[00:21:59] Scott: You guys have heard me talk about this time and time again and it's so important. So don't skip that. Don't skip thinking to yourself that there’s a quick and easy way. There's not. You have to get out there, you have to build something, it might take a couple of attempts and then once you start to get it, understand that the thing that might be working today that's getting you the results that will allow you to build something to then feed yourself and your family literally and then from there it might also feed that next project but you're also able to learn. You might be thinking, well I don't know if this is the right thing yet.
Well, if you sit here and just keep thinking about that nothing will happen. So even if you just do a small little test brand it's still better than doing nothing because you're getting an education by doing, by taking action as you guys have heard me say time and time again. So again, I just wanted to share this with you because I know some of you are in this place. Some of you are at the $30,000 a month and you're thinking to yourself, ‘Okay, I'm feeling as though I'm relying on Amazon. I want to learn this marketing thing. Scott's been talking about this marketing thing and it's a huge advantage over my competition because everyone else is just going on Amazon and hoping that they can build their business there. It's really risky.’
So you don't want to do that. And that's why I just wanted to share this with you. These are some things that you could be thinking about as well. And the big thing here is the little nugget here for you, actually it's a big nugget. Is you need to ask yourself questions? So what do you have right now and what do you want to achieve. What are your weaknesses, what are your strengths? What do you do first, right now to move you closer to where you want to go? And why does that make the most sense. Again, you can hear it, it's questions. And then the next question is what to do next?
So you just have to ask yourself these questions and build that timeline. Build that sequence of events that you can do. Now doesn't mean you have to carry them all out.[00:24:03] Scott: But you still need to plan this stuff and you need to start asking yourself these questions. So hopefully this has been helpful. Again, I just want to do a little recap for you because I think it's important to be able to do these and kind of immediately do it for me because then I don't forget anything because this is kind of fresh and I just literally wrapped up this call about two or three days ago. So it's really fresh for me and I am super excited to work with this business owner because we're going to do some amazing things and it's going to be a lot of fun.
Now, if you're listening to this and you haven't heard about this whole private client group that you have with the inner circle, how do I find out more? It’s a great question, if you want to apply to be part of one of our small intimate inner circle groups all you have to do is go over to TASinnercircle.com, again that's TASinnercircle.com. And that's where you'll see all of the information on that and really what I'm looking for in a business that I want to personally work with. And really it's about me, seeing that you have something that just needs some tweaking or that just needs a little bit more guidance or maybe the marketing muscle behind it.
And also how one big thing, one big piece of criteria here that I always look at is, is this someone that I genuinely would want hang out with. And the reason why I say that is because I'm at a point in my life now where I want to only surround myself with people that I genuinely want to spend time with and that I enjoy and that quite honestly aren't going to be a pain in the butt. And that are going to go out there and do what we talk about. And that's really what this is about. So if you're interested, if you're curious, whatever and you want to see if you're a good fit you can always head very to TASinnercircle.com you'll learn all the details over there.
All right guys. So that's going to wrap this up. The show notes can be found at theamazingseller.com/560[00:26:03] Scott: And you'll get all of the show notes which I think you might want to go grab because even the transcripts on this one, everything I just went through is exactly what I went through with this successful business owner that we are going to be implementing and you can do the same. So that's it. That's going to wrap it up.
Remember as always, I'm here for you, I believe in you and I am rooting for you. But you have to, you have to… Come on say it with me, say it loud, say it proud, “Take action.” Have an awesome, amazing day and I’ll see you right back here on the next episode.[END]
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