The Money Podcast £0 to £100k (in The Quickest Time)
How do you get from zero to 100k in the shortest possible time? To answer that question Rob is sharing fourteen steps you need to implement on your path to earning 100k from your business. This is the second episode in a series of taking you on a journey from debt to being a multi-millionaire. From ensuring that you’re marketing immediately, getting close to your customers and developing multiple streams of leads, Rob explains how you can get from zero to 100k as quickly as possible.
Key Takeaways
You have to start with a minimum viable product. It doesn’t matter if the product is a bit rough around the edges. The important thing is to get the product on the market and receive feedback on how to improve it. Apple improves the iPhone in every reiteration of it as a product. You can reinvest the profit from the minimum viable product, into a second version, and then keep repeating this cycle.
Start marketing immediately. Marketing is more important than sales because marketing creates the leads that turn into sales. You have to embrace marketing as both an art and a science. Learn and study it so you can develop a clear strategy. You will already have connections on social media who could all be potential customers.
Trade on your time, more than your money. When you are rich you can trade on money. When you don’t have any money then you have to trade on time. Mindset is your only limit on time. You can achieve whatever you want to. Trading on your energy, enthusiasm and persistence are undervalued. These attributes can be extremely valuable to you.
Multiple streams of leads. If you have one supplier or one customer then you are at a big risk if anything happens to them. If something changes then your whole business is at risk. You have to make sure that you are active on multiple platforms from social media, to networking events to ambassador programmes.
It’s really important to build your personal brand alongside your business. Being a content marketer in your sector is essential. Don’t stop running your business, but get out there and share your message to the world. Aim to be the most read commentator in your industry.
Work out your ideal client, then create your marketing around them. There are various Facebook groups you can join, to learn about your customers. Create a profile of your ideal clients; what language they use, what brands they purchase and how they interact and develop your marketing accordingly.
Work out how many units you need to sell, to make a 100K. Then set a deadline to achieve it. Set realistic monthly growth targets to achieve this, and understand the numbers of your business.
Get admin help quick. When you start to sell a decent volume of products then at some point you will need to outsource all the non-money making activities. You will hit a moment of chaos where you need help. When this time is liberated in your schedule, replace it with incoming generating tasks like sales or marketing. The first three or four hires in your company should be an administrator, an operations person, and someone in marketing or sales. Your role should be to hold the vision of the company and to inspire others.
You have to sell, sell, sell. Sales is a beautiful thing. The world would stop without sales so either you become a salesperson or you partner up with someone who will. Steve Jobs was a great salesman but he wasn’t on the market stall. Nearly 40% of the staff in our company are in the sales or marketing department. That shows how important it is.
Get close to your customers. Be personal with them, learn about their pains, desires and problems. While you can reply to social media and private messages. When you receive feedback or questions from your customers you’re in the process of learning about them as much as they are receiving information from you.
Set up an ambassador or referral scheme. Reward your early customers to give referrals to your business. Do that early on in your business. We earn nearly a million pounds in our business from our ambassador scheme. Your ambassadors will be your most loyal customers so reward them.
Use media to build media. Invite your podcast listeners to follow you on Instagram, and your LinkedIn followers to like your Facebook page. On a monthly basis, rotate this across different profiles to increase the reach of all your profiles.
Do whatever it takes. Sometimes we do just need to say to ourselves stop messing about and get out there. Sometimes you just have to get it done. Passive income comes later once you’ve worked hard.
Tell absolutely everyone what you do. Telling everyone what you do will create a viral effect. You’ll find that the people you talk to will go and talk to others about you which will have a compounding effect.
Best Moments
‘I believe in getting rich quicker, not get rich quick.’
‘If you have a minimum viable product you can start selling.’
‘You’ve got your whole life experience to potentially monetize.’
‘You can build, create and deliver your product simultaneously.’
‘Marketing is just as artistic as other art forms.’
‘Social media is a great way to start, as it doesn't cost any money.’
‘Your passion and energy are undervalued skills.’
‘Do not rely on one place or platform for leads.’
‘People trust a person more than a business.’
‘You can always go wider but it’s harder to go more niche.’
‘Find your niche.’
‘You don’t need to hire a full-time member of staff.’
‘As an entrepreneur, you should be focusing on the vision.’
‘Sales are a beautiful thing.’
‘All my books titles come from my communities.’
‘Use media to grow media.’
‘Get it done.’
‘Tell absolutely everyone, what you do.’
Valuable Resources
https://robmoore.com/
Facebook Page - https://www.facebook.com/robmooreprogressive/
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor and property educator. Author of global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
- Rob Moore Official Website
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