Real Money Talks

How many of you have ever wanted to become a millionaire? Grow a successful business? Have a nice portfolio, and know that you don’t have to work for ever and ever for the rest of your life? Would you like to build generational wealth? Money doesn’t stop, you need to know how to grow and protect it. If you would like to know the answer to these questions, take a seat at the big table and choose to become a millionaire? Today’s podcast is from a Big Table webinar presented by Loral about becoming a millionaire and starting with a money makeover. She is also joined by Scott Arden of Controllers, Ltd. to talk about taxes and entities. You can find Scott here: Ask Loral Controllers, Ltd. Show Notes [01:40] Today we learn how to become a millionaire. [01:41] Money starts the day you walk onto the planet and stops the day you walk off. The problem is many of us aren't taught about money. [03:25] So what? Now what? Most people don't talk about money. [03:51] Wealthy people have very open conversations about money and share information and team members. [04:06] Today's podcast is a recording of a webinar that actually does a money makeover. [04:30] Loral grew up in Nebraska and earned a finance business degree. She tried working in a bank and then got a Masters degree in exercise physiology. [05:00] She then became a health consultant. [05:09] Being hired by Chevron was one of her aha moments, and Loral wrote a book about it. At Chevron, she helped build fitness centers on offshore oil rigs. [05:58] She then worked at the corporate headquarters in San Francisco. She traveled all over the world building corporate fitness centers. [06:09] In 1996, she dropped everything to promote Robert Kiyosaki's cashflow game. [06:53] After Rich Dad Poor Dad, Loral started her first company Live Out Loud. [06:57] She has been Shark Tanking businesses since 1999. [07:37] Being part of a community and being able to talk to anybody you want about money is so important. [07:56] Loral has had real estate companies, gas and oil companies, and she's currently heavy into the cannabis world. [08:35] In 1933, the banking system was formed. Seven of the wealthiest families in the world collaborated on how to build an economy. [09:07] Loral is a huge fan of getting off of Wall Street. [10:54] The system is designed so the rich get richer and the poor get poorer. [11:13] We have to deal with money anyway, why not learn to do it right? [12:11] Teaching people to get jobs creates a lot of employees. [13:07] As you get wealthier, we teach you how to save on taxes and only pay yourself what you need. [14:21] Relying on others to pay you is risky. Debt is a way to leverage your money to become a millionaire. [18:44] When you have a business, there are so many ways to write things off. Living your life inside corporate life. [20:35] You need to understand how to live this lifestyle and how to teach your kids to live it. [21:22] Debt is just the cost of money. [22:03] You have to get out of sole proprietor land and get committed. [22:24] Scott Arden with Controllers, Ltd. is here to talk about entities. [22:33] Scott is an entity and tax and compliance expert. [23:39] Scott has been in the asset planning and protection industry for 22 years. [23:55] He worked for one of the top asset protection firms and now has his own company. [24:03] There is a huge breakdown between people's entities and their tax side. [24:25] Scott and his partner bridge that gap. [25:25] LLCs are the most widely used entity. They can be taxed with four different methods. It is the most flexible method. [26:50] S Corp is an election to allow profit and losses to pass through. [27:19] Limited partnerships are great for estate planning and asset protections. [27:44] Trusts like revocable trusts are great for passing assets. Irrevocable trust grants assets to beneficiaries. [30:00] The tax code is now written more for corporate owners. [31:03] Using a C Corp structure, you can have a flat tax rate of 21% regardless of how much you make. [32:19] The biggest deduction is qualified business income. We are allowed to take a 20% deduction right off the top. [33:12] Service based individuals are not afforded this deduction, so there are different strategies that need to be deployed. [33:59] There are no more meal and entertainment deductions. Trusts have changed. [36:13] Have a team support you to live your life like a business. [37:29] We can look at your tax information and generate a custom report that is specific to you. It will outline your deductions, and it is all backed up by the IRS publications. [40:27] Discover what you want and how you want to get there. This information is in my book The Millionaire Maker. [43:05] Loral shares the Money Makeover and asks when is your Freedom Day? [44:45] A gap analysis looks at where you are versus where you want and puts a plan together. [45:17] The Big Table is a mastermind for you and your family for the rest of your life. Links and Resources: Loral’s Real Money Talks Robert Kiyosaki Sharon Lechter Books by Loral Langemeier The Millionaire Maker's Guide to Wealth Cycle Investing: Build Your Assets Into a Lifetime of Financial Freedom

Selling is one of those skills that can benefit your finances and your personal life. I have a special guest today, Ross Jeffries is a sales expert and the author of Subtle Words That Sell: How To Get Your Prospects To Convince Themselves To Buy Without Pushing, Pressuring Or Pitching. On today’s show, Ross shares the importance of mindset, how to be a service decision technician, and implied relationship words.   Ross learned the power of selling early on when he was dating and started learning about NLP to help persuade women to go out with him. Soon he realized that these same selling and persuasion principles could be used in the sales arena. This episode will change the way you look at sales and how to speak with prospects.   You can find Ross here: Ask Loral Show Notes [01:59] 20 years ago Ross became involved with NLP. This is neuro linguistic programming which is the study of how language structures consciousness, shapes decisions, and drives behavior.   [02:20] He learned how to communicate in a way that was charming and help them get past his peers.  [02:30] Ross realized if he could sell himself to get a date, he could sell other things to make money.  [02:37] He also learn to develop a mindset that was able to handle the word no.   [03:10] He has been training sales teams to do what he calls subtle selling.  [03:15] The art of getting your prospect to convince themselves to buy without having a pressure driven pitch.  [03:26] Ross's book is called Subtle Words That Sell: How To Get Your Prospects To Convince Themselves To Buy Without Pushing, Pressuring Or Pitching.  [04:05] Myths about selling. You are selling your product or service. You are never selling your product, you are selling decisions and good feelings about decisions.   [04:56] Thinking of yourself as a service decision technician relieves the pressure.  [05:35] The second method is that it's crucial to get rapport. Rapport is important, but you want people to be responsive to you.  [06:59] Capture the imagination and the emotions of your prospect and lead them to make the decision.  [08:45] It's not just a matter of getting people to trust you, it's getting people to trust that they can do it and make it in life.  [09:03] Getting people to trust themselves is much more difficult. A real coach and salesperson gets people to trust that they can do it.  [10:17] The difference between influence and manipulation. Influence is about expanding the minds of your prospects to encompass ideas.  [12:34] Mindset is at least half the game.  [13:28] The system to selling. Structure of your language in communication.  [15:09] A tool to increase your sales by 20%. Using implied relationship words. You want to create a relationship with the people you are selling to.  [15:51] Ask your prospect to promise to share their questions with you. Use words like we and together which imply a relationship. Will you promise me? We don't make promises to people who we don't trust. Buying into these words creates the unconscious mind set of already having a relationship.  [17:55] How to crush objection. First responses are not written in stone. They are usually a reflection of what they are thinking or feeling.  [18:26] People have buttons around money.  [19:26] Reframe their objections and clear things up to move forward.  [22:29] The difference between someone just plodding along and someone who has joy in being a transformational teacher.  [23:34] In Ross's book, he lays out all the fundamental principles that make the tools powerful. There are also transcripts of training sessions.  [24:41] Ross's book was a labor of love.  [25:00] The vending machine metaphor for success. You have to accept and embrace chaos. Recognize that every situation is something that you can learn from.  [27:12] See what you did right and then pick apart what you could do differently.  [27:48] How important it is to get a coach and mentor.  Links and Resources: Loral’s Real Money Talks Subtle Words That Sell: How To Get Your Prospects To Convince Themselves To Buy Without Pushing, Pressuring Or Pitching

A mortgage is one of the best ways to leverage you money, especially for real estate investors. Today, I have one of the most knowledgeable people I know when it comes to mortgages. Elysia Stobbe is a mortgage expert who has closed over $300 million in residential mortgages. During the real estate downturn of 2006, Elysia not only survived, but she thrived. She is an expert in VA mortgages and helping first time home buyers. She has been featured on FOX, ABC, NBC, CBS, and more. She is a national speaker and bestselling author. We talk about different types of mortgages, the importance of good credit, real estate for investors, the state of the real estate market, and the new tax laws. You can find Elysia here: Ask LoralElysia Stobbe Books Show Notes [01:17] Elysia started in sales about a quarter century ago. She started investing in real estate on the side and loved it. [01:38] She transitioned over to the mortgage industry about 15 years ago. [01:46] She's done everything from cash flow investing to notes. [02:33] We are long overdue for a market correction. If you look at the market cycle, every 8 to 12 years there is a downswing. [02:54] It looks like a slow decline may have started in March. It's not a big huge crash. [04:00] Seattle, Washington is on fire they are not experiencing any type of decline. Big cities like New York are seeing less transactions closed. [04:43] The average sale price is also starting to decline. [05:33] A lot of new investors are jumping into the market. These people definitely need guidance. [06:18] From an investor standpoint, there are still great properties available that cash flow. [06:42] Stick to your system with real estate investing. [07:11] Money rules that investors frequently break. Investing without having a plan. Having money discipline and having a budget or financial freedom plan. Living above their means. [09:07] How to pick a mortgage that is right for you. Go through the options and choose the plan that is right for you. Not asking enough questions and doing enough due diligence. [11:10] Credit is critical to your interest rate and how much you can qualify for. Credit is fluid. It is critical to keep an eye on your credit. [12:13] People with great credit scores have more access to money across the board. [12:50] Don't spend more than you can afford pay your bills on time every month. [13:13] For investors, the down payment is a function of their specific plan. The great thing about real estate is that it is an amazing opportunity to leverage. [14:31] Any mortgage is a personal decision. Over all reverse mortgages depend on whatever cash is available and can help some people. [16:30] The number of mortgages you can have depends. The economy right now is ripe for investors to take advantage of leveraging. [17:28] People used to be capped at 10 mortgages, but now the cap is back up to 20. A married couple could leverage on 40 mortgages. [18:43] IRAs are a great opportunity, and people don't do enough of it. [20:24] The new tax laws do help several states benefit. The more people educate themselves, the better things will be moving forward. Links and Resources: Loral’s Real Money Talks

This episode is from a Facebook LIVE Lunch with Loral session. Today, I talk about what is going on in the world of Cannabis. This is a quick catch up with what me and my team and partners have been doing in the Cannabis industry. The Green Rush is going to be way bigger than the dot com rush. That is why I decided a year ago that I was going to get into the Cannabis industry. My partners and I now have a 23 acre facility in Cathedral City where the condos will be. This will be an area for cultivation with shared resources. We will have a manufacturing facility and a dispensary. We have doctors working on the medicinal formulation of CBD and partners in the nutraceutical industry. On this show, I also share how you can learn more about the industry and partner and invest with us. You can find Loral here: Ask Loral Show Notes [02:37] A year ago, I started a webinar on Cannabis. Then we had a Las Vegas Cannabis workshop with a tour of the cultivation and manufacturing facilities and the dispensary. [03:13] Then we bought 23 acres in Cathedral City for use in the industry. [03:36] We also have two investor groups. One will be doing private cultivation inside our condos. The other will focus on brain and Alzheimer strains created specifically for clinical trials. [04:10] The 23 acre facility will be shared and everyone can do their own private label and brand. [04:38] There will also be a dispensary at I-10 and Date Palm Drive. The gateway to the whole valley. [04:45] Each member of the condo will do their own cultivation and we will continue to sell out the space and all share the manufacturing, dispensary, and security. [05:15] The condo will be used for cultivation and combined resources will be shared to help each other. This includes security, distribution, water resources, and more. [05:20] The idea is called creative condos.If you want to know more about the project you can email StartAssetEducation@Gmail.com. [05:32] In Nevada, we have four licenses. [06:00] I have moved in my sales team, and they will be doing joint health and wellness sales. There will be CBD products and other joint ventures including nutraceuticals. This manufacturing plant is for non-THC related products. [06:54] Our crown jewel is a Columbia license with some growers. [07:08] There will be a Big Table in the Palm Springs and Cathedral City area November 5th and 6th and then the next day will be the Cannabis event. If you are not in the Big Table Mastermind, you can sign up for the day and just do the Cannabis tours. [07:50] I have been on a 3 year mission to figure out how Canadians can better invest in RRSPs or Registered Retirement Savings Plans. [08:04] We are selling a lot of our assets to go public on the Vancouver exchange, and we will be teaching you how to do the same. [08:53] On October 17th, Cannabis should be legal in Canada. We hope to have an event on that day. The amount of money moving through is incredible. [09:30] The green rush is huge. I decided to get in a year ago. My heart and soul is on the medicinal side. [10:12] There is a huge opportunities for dosing guidelines. Many businesses are popping up everywhere. [10:56] Opportunities are popping up everywhere for software,legal and other businesses. If you are not in the space, it may be time to jump in. [11:01] I am very interested in working with the Alzheimer groups and finding medicine to help people. [11:34] It's my goal to continue to lead and bring updated information to you. [12:06] We have a group of doctors working with the folks at the plant who can help you find the right combination of what to take. [12:20] Marijuana Millionaires is a brand new group that is going to be the combination of a best-selling book, a newsletter, and a magazine. [13:19] We are creating a team of doctors, formulators, and experts around the Marijuana Millionaire group. [14:30] If you want to be a shark, you need to know how these industries work. [15:08] Next week, we will have a variety of folks from the Big Table here live. Links and Resources: Loral’s Real Money Talks StartAssetEducation@gmail.com MarijuanaMillionaires.com

We are all about making money, growing money, and keeping your money. One of the best ways you can keep your money is to be smart about your tax structure. The new tax laws have passed, and 2018 has a lot of changes for small business owners and investors. My partner and guest Mike Giorgi is here to talk about all of the new changes and how to get the most out of them. We talk about the importance of a team to really help you set things up correctly. Depending on your circumstances, you may need to create a pass-through entity to take advantage of the 20% QBI deduction. Mike talks about setting up your corporate structure correctly, planning, and monthly check-ins. We also have a checklist for you and a lot of great advice for keeping the money that you have earned. You can find Mike here: Ask LoralStartAssetEducation@Gmail.com Show Notes [02:28] 2018 tax code. The changes are amazing for the rich. [02:48] There are a lot of changes that need to be made if you are investing or a service company or doing business in general. [02:59] People who are not service individuals like attorneys or realtors can get the 20% qualified income deduction. [04:30] We have found a work around to get this deduction by having a management company. [05:09] You need to have these types of conversations with your corporate compliance people. [06:13] Doctors and professionals can lower their taxes by having money flow through their practice or management company. [08:59] A 21% flat tax is an amazing thing especially for professionals. [09:13] Have a management company that performs non-professionally licensed tasks with an S election, so you can get pass through income and your QBI deduction. [09:42] Associative entertainment deductions are gone. Travel meals are limited to 50%. [10:43] If you think about it, the trade offs are worth it. [11:15] Get your tax team involved and ask about the effective tax rates of your current entities and what changes you may need to make with the new laws. [11:49] Create a plan and create a budget. You need to document everything. [12:31] Have a resolution and plan backing up that resolution. Check and recheck your plan on a monthly basis and make sure you are doing everything in that documentation. [12:59] Find a professional team, put a plan in place, and document everything. [14:08] Be sure to issue your corporate stock if you have an LLC. Make sure there is another officer in the annual minutes. [15:20] Document a special resolution for anything that is special. Track large changes. [15:48] Have cash flow in your proceedings. [16:32] Email StartAssetEducation@gmail.com [17:21] Anyone making $175,000 to $200,000 needs to talk to Mike. There is a phase out that starts at these numbers. They need to be spread out across the structure. Links and Resources: Loral’s Real Money Talks Ask Loral StartAssetEducation@Gmail.com

We have all heard the old adage that real estate is the fastest way to create wealth. My guest, is a friend and community member who was involved in the real estate industry when he saw a pain point and decided to do something about it. He had the vision and skill set to create a tool that makes it easier to market real estate across the industry from selling, renting, residential, and commercial. VirtualTourCafe is a tool that helps real estate marketers create websites, virtual tours, and flyers easier, faster, and better. Tim talks about all of the benefits of his tool from being more cost effective to the real savings of selling or renting faster. He also talks about staging, photography, his book, and virtual staging. He even shares a story where a seller was going to give up, then tried the virtual staging tool and sold the property in a week. You can find Tim here: Ask Loral VirtualTourCafe Get Your Free Report Show Notes [01:08] VirtualTourCafe is to help people involved in real estate to better market their properties. Tools, presence, and exposure. [02:02] This is a system that makes things easy for people who aren't tech savvy. Creates property websites, virtual tours, and flyers. [02:49] People can log into their own account and create tools that will help them do things fast and easy. [02:55] Tim also wrote How to Photograph and Market Houses to Sell Fast. [03:16] He wrote this book in response to people's questions about how to get the best pictures for their listings. [04:12] Tim was affected by the crash of 2008. This gave him an opportunity to rethink what he was going to do with his life, and he got into real estate. [04:43] He noticed other agents needed help photographing and marketing their properties. [04:50] He had a lightbulb moment and decided to automate the process. [05:02] It took a team of developers and programmers about six months to launch VirtualTourCafe back in 2008. [05:26] Now they have users in every state and several different countries. [05:34] What is virtual staging? How does it work? [05:47] They just launched RealEZPhotoFix. Virtual staging is taking a digital photo and adding furniture to make it looked staged. [07:35] It is okay for realtors and real estate agents to use virtually staged photos as long as they disclose the fact. [07:57] In real estate, it's all about disclosure especially if you are licensed. [08:36] Physically staging homes can cost thousands of dollars. [08:57] A digitally staged photo is $32. [09:38] Some buyers have a hard time visualizing what the room will look like. Having the perception of what it will look like can increase sales. [10:18] The real value is being able to sell the property quicker. [11:45] This techniques enables sellers to get the property on the market while it is still being prepared. [12:23] They can do 3D rendering and finish a room that is under construction. They can also be clutter a messy room. [13:17] When taking pictures, level the camera and keep it straight. [13:54] Lighting is also very important. Turn on all the lights and take photos that aren't facing the window. [15:15] Put the toilet seats down. [15:32] With furniture less is more. Get rid of as much as you can. [16:58] Take a shot of the front of the house with some blue sky. Links and Resources: Loral’s Real Money Talks How to Photograph and Market Houses to Sell Fast RealEZPhotoFix Ask Loral VirtualTourCafe Get Your Free Report

Everybody wants to make those high-end big-ticket sales, but most people are too afraid to do it. My guest today, is Wendy Stevens. She has been on the show before talking about 7 Figure LinkedIn Marketing. She is part of my team and the Big Table. Today, we talk about something that we both do, and that is actually make those big-ticket sales. Some of the things we discuss is taking a funnel and expanding it, so that 7-figures is a reachable and likely goal. We talk about the number one thing you can do to quelch your fears, not seem desperate, and avoid repelling customers. We talk about putting every variable in your favor and prospect positioning. Along with a way to double your closing rates. We also talk about the 5 questions you can ask a prospect in order to get a yes on these important sales calls and interviews. You can find Wendy here: Ask Loral Wendy's Website Wendy on LinkedIn Wendy on Twitter Wendy on Facebook Wendy's YouTube Channel Show Notes [01:47] The funnel is the very first most important thing. [02:13] You need to have more than one lead in your funnel. [02:23] You need to have multiple qualified leads and prospects. [02:35] You do not want to appear desperate when trying to sell a big ticket item. [03:00] The art of high ticket cells begins with eloquence and eye contact. Your vibration comes through the nanosecond you first encounter the prospect. [03:34] When you learn the skill of high ticket sales you can just date and then get married. [04:20] Step one is to put every variable in your favor and properly position your prospect. Use a brilliant video before you even get together. [05:02] People double their closing rates just by sending a video up front. [05:48] You can also have somebody send you their top three reasons why they want to talk to you. [06:04] Write down who, what, how, where, and when. Be genuinely curious. [09:03] One of the best things Wendy ever did was go to Loral's Big Table. [09:44] If Wendy lost everything today and had to start over, she could generate quality prospects by proper positioning, posture, and getting on the phone. [10:12] Find out the emotional impact of whether your prospect is or isn't reaching their goal. [10:39] Five questions to get to the pain point. [10:50] If you could change one thing in the world right now what would it be? [11:30] Be comfortable with silence and allow the prospect to answer. [16:13] On a scale of 1 to 10 how important is it for you to create generational wealth? [19:01] If you want something bad enough, you will figure out how to get it. [21:22] The third question is: What is your pain level? [21:48] How important is it for you to do what you are trying to do? [22:43] If they are sure it matters to them, then asked them why it matters. If they aren't ready, say that you will get back to them. [23:47] Ask yourself how many prospects you need to talk to in order to get to a yes. [26:36] We are also going to do a limited workshop on how to achieve high-ticket sales. [26:51] There is an absolute formula to this. [27:02] Make sure you're being aware of the four personality types and paying attention to everything that your prospect is doing. [27:10] Notice whether they are committed and if there's a personal impact. If there is no passion, then take it away. [27:35] Begin the commitment process by charging them immediately. [28:21] Ask powerful questions and then be quiet and just let it sit. Links and Resources: Loral’s Real Money Talks 7 Figure LinkedIn Marketing

LinkedIn marketing is the new California gold rush. Since the acquisition by Microsoft, there have been subtle and not so subtle changes to LinkedIn. Today, we talk about how to strategically create a LinkedIn profile that will land the big clients that will send your bottom line soaring to 7 figures or whatever your goal may be.  Wendy Stevens is a long-term client, a Big Table member, and a self-made millionaire. She now teaches high-end sales. Wendy is a LinkedIn expert who is helping us with strategically updating our profile. She talks about the changes that have happened since Microsoft has taken over, the constantly updating algorithm, how to get featured on ProFinder, and a 7 steps to 7 figures profile strategy.   You can find Wendy here:  Ask Loral  Show Notes  [01:20] Wendy was one of the first 200 certified Google adwords specialist.   [01:48] In 2007, Wendy began mastering the art of LinkedIn marketing.  [02:03] Microsoft paid $26 billion to acquire LinkedIn.  [02:28] Wendy worked with some of the people from Microsoft who rewrote the algorithm for LinkedIn.  [03:12] On LinkedIn, we are being evaluated for our influence score every single day.   [03:52] It's important to be strategic about how you show up on LinkedIn.  [04:20] How to mind your LinkedIn account. Show up to be valuable first. Position yourself properly.   [05:23] Keys to a good profile: 7 sections in your LinkedIn profile. Headline - Keyword load your name. Put your keyword in your last name section. Use word cloud or keyword tools. Find your keyword and get in front of them.  [07:13] Tagline - this is where you clearly say exactly what you do. Summary - Only the first two lines show up. 67% happen on mobile. Have your first video show up in your experience section. Have keywords in the first two lines of your summary. Speak in the first person to your ideal avatar. What you do and how you help them.  [09:09] Create a video. Speak the pain of your ideal client. Say what they don't want. Put it in the form of a question. Include social proof or a client that you helped. End the summary with a soft call to action.  [10:13] First experience section - name it claim it. Put your best foot forward. Upload a video testimonial from a client that you have actually helped.   [10:46] Go help someone and get a real testimonial. Guerilla marketing for free to get social proof.  [11:29] Have keyword in every experience section and in the title of every video. Upload a video for each thing you have experience in.  [11:35] These videos need to be uploaded to YouTube. You want the back links from YouTube.   [12:04] 7 sections, headline, tagline, summary, experience sections, add all 50 skills. Use all 50 skills. Then LinkedIn will promote you. They scan and re-rank on a multiple hourly basis.   [13:04] Find primary and secondary keywords. Seven sections. Reorder for the top three that you are known for.   [14:14] Have endorsements for your skill sets.   [14:33] Don't get left behind, get endorsed for your top recommendations. Get recommendations. You can't be the top performer without recommendations.  [15:16] ProFinder is when they choose to promote you throughout LinkedIn.   [15:41] Written and video recommendations.   [17:20] If you get your keywords woven in, you can actually have your own six figure funnel. It's all traffic and conversions.   Links and Resources:  Loral’s Real Money Talks  WordCloud 

The single most important focus for growing a business is sales and marketing. Building a database of customers and potential customers is critical. But to communicate effectively with your customers you need to understand where they come from and what they are interested in. You need to segment your list to communicate effectively with clients and potential clients. Darin Adams is an expert at growing small businesses and sales and marketing using Infusionsoft. Today, we discuss how setting up and automating your marketing efforts from the beginning is one of the most important things that you can do for your business. We talk about list segmenting, lead nurturing, CRM software, API integrations, and smart ninja tricks to get started automating and tracking your sales and marketing efforts. You can find Darin here: Ask LoralDarin's WebsiteDarin on TwitterDarin's YouTube Channel Show Notes [01:22] Darin has a background in broadcasting and worked with small business owners. He helped them with their message in their marketing. [01:54] When Darin discovered Infusionsoft, he knew it was a great combination. It combined his love of teaching people and helping people with marketing. [02:10] His focus is growing, building and automating business. [02:15] He travels around and teaches people how to grow their business. [02:25] Marketing and sales. The single thing a business owner can do to jump start their business. [02:46] The number one thing you need to be doing is building a segmented list. [02:56] People often think the value of their business is the product or service, but it's really in the list. [03:17] The importance of marketing and having a database of customers. [03:46] Your list isn't very helpful, unless you know actual information about the people on it. [04:12] Breaking things down into segments lets you know exactly who the people are and what they are interested in. [04:26] The money comes in when you have tools in place to grow the list and collect data on the people on the list. [05:07] How people think their website and even Facebook are critical to their businesses. [05:41] A website is one arm of your business. It can be used to drive people to your database. [06:59] You want to know how people come to your list, so you can communicate out to them. [07:12] Your customer relationship management tool or CRM allows you to communicate out to them and make money. [07:40] Information in a segmented list. [08:44] The beauty of Infusionsoft is that it allows you to tag people, so you know how you first engaged. [09:21] You can tag people, so that you understand how to communicate with them. [11:47] Ways to capture leads include a landing page, a webinar, life events with text integration or a website integration, and free gifts or lead magnets. [13:32] Once you have your leads you need to nurture those relationships. People don't buy on the first contact. [13:45] Find out what their pain is and how to solve it. That will build relationships and trust. [14:08] You also need to be able to track what they're doing like if their opening emails or clicking on links. [14:44] Map out the process to take your customer from step A to B and automate the process. [15:08] Tracking people will allow you to make the right offers at the right time. [15:43] The number one way to grow a business is to use your existing business. [16:21] Lifecycle marketing. Drive the leads, nurture the leads, track the leads, make offers depending on what they're doing, make sales, and follow up and turn customers into raving fans. [17:15] Infusionsoft integrates with so many other companies. [17:43] Integrating Facebook retargeting with Infusionsoft will allow you to target specific groups. [18:03] You can also use text integration with tools like FixYourFunnel, Call loop, Salesmsg, PlusThis, or Twilio. [18:28] You can use the system to integrate texting. [18:38] PicSnippets allows you to personalize a photo. Sending what looks like a personalized photo to someone is amazing. [19:23] SoTellUs let's you capture video referrals. Folklore Creative makes animated people. [21:23] For a small business with Infusionsoft you can have a full integrated marketing sales and accounting software. [21:58] You need a CRM and a system like this from day one. When you start collecting leads. You need something to do with those leads. [22:25] This is more important than a website or formulating what your actual product is. This is the most important foundational tool for any business. [23:06] You can API QuickBooks on to the end of this, and as always don't forget to get incorporated. Links and Resources: Loral’s Real Money Talks FixYourFunnel Call loop Salesmsg PlusThis Twilio PicSnippets SoTellUs Folklore Creative Infusionsoft QuickBooks  

Business strategist and extraordinary marketer Adam Kipnes is here today to talk about how marketing is the answer to everything. Marketing is what starts everything in your business. People and businesses make money through marketing and marketing strategies. Marketing and tracking your revenue generating activities need to come first. We also talk about putting strategy before tactics and finding your ideal customer and knowing what you want to say to them. Adam talks about the system he has built to put marketing first to make clients money, the five major components of a marketing plan, and his strategies that you need to start using in your business today. You can find Adam here: Ask LoralFree Book From Adam - How to Make More Money in Your Business New10K.com Show Notes [01:36] For the past 18 years, Adam has been working with small business entrepreneurs to help them grow their business. [02:05] In this time, Adam has learned what small business owners are doing wrong when it comes to marketing. [02:25] Adam's goal is to find new revenue through marketing techniques, and then utilize that money to build a better business. [02:48] Why do people need marketing first? Small business owners need more money. The reason small businesses owners need more money first is because they don't usually have money set aside to grow the business. [03:27] Being better at your business doesn't grow your business. Marketing grows your business. [03:59] The five major components to marketing and marketing plan. Leads, conversions, transactions, higher prices, and more profits for your business. More leads is the first component. [04:12] Sales and conversions is the second component. Once you get people to say yes, you want to have a plan to get them to say yes again. This is part of the marketing funnel. [04:46] Once you have repeat customers, you can raise your price point. This will drive more money into your pocket. [04:57] Once you have these things, you have strong sales, pricing power, and more profit. [05:37] Conversions is getting people to say yes to you. The key to a good conversion is understanding the problem that the prospect has and the solution you deliver. [08:39] An example are the drinks in front of the cash register at Home Depot. [08:58] Think about things that you can offer your clients. [09:43] It's important to put the revenue-generating side of your business first. [10:36] Before you do anything, ask if what you are about to do will get you paid? [11:05] Also ask if what you are about to do will serve your purpose? [11:22] Does what you are about to do need to be done by you? [11:53] Does what you are about to do need to be done at all? Cut out activities that don't add value. [12:27] Get off the treadmill of just doing the work every day, and implement the things that you need to do to make money. [12:51] Produce a revenue chart. Tie everything you do with revenue production. [14:01] The purpose of the funnel is to get people engaged with you. Get them ready to buy your high ticket or more expensive services. [14:17] You can offer something of value to get people to engage like a free report. Once they engage, you can then move to a book or a lower end service, then get them to engage with you personally, then move to something high end like a coaching program. [15:30] The engagement process can be through Facebook, face-to-face, or even through a podcast. Try to get initial engagement that your audience cannot say no to. [16:33] Funnels work because you get value, create value, and your customers know, like, and trust you. [17:26] The first step is knowing who your customer is and what you want to say to them. [17:50] The strategic side is first. Then the tactical side is finding out where these people are at. [19:36] We have people who know us today that are low hanging fruit when it comes to capturing leads. Start with the people who already know, like, and trust you. [20:14] These people can also be referrals or joint venture partners. [21:19] You can download a free book from Adam at FreeBookFromAdam.com  How to Make More Money in Your Business: 8 Strategies You Better Start Using in Your Business Today! [21:38] The first strategy is how to use messaging on a lead capture page. A lead capture gives visitors one thing and one thing only to do. [22:08] The second chapter talks about joint ventures. Think about the other people who sell to your client. [22:56] Statistics show that people buy from the fifth to eighth contact. Having a drip campaign is critical. [23:19] The last chapter talks about how to make more money through the use of bundling versus discounting. Links and Resources: Loral’s Real Money Talks Ask Loral Free Book From Adam - How to Make More Money in Your Business New10K.com