No, I’m to talking about money, but there’s one essential element that you need in oder to make your business something that you can scale and really put the right kind of energy into.
For years we didn’t have it and it would eat away at my brain constantly making me feel trapped and stuck in a situation that we’d created ourselves.
Listen to the episode to see how you can avoid falling into the same trap, and what you can do about it if you don’t have any of this ‘magic’ ingredient 🙂
Hello everyone and welcome to the Tribegeeks podcast episode #5 and today we’re going to talk about something that we didn’t always have in our business… well not as much as we wanted anyway, but we knew that if we didn’t get it and get it fast, we wouldn’t be able to carry on for much longer. You need it too, and as much of it as you can possibly get.
No, I’m not talking about money.
What am I talking about… I’ll tell you after this.
So, before I just throw out the answer to the question that I just posed, let me tell you a little story about how we came to the conclusion that we needed this magical thing that I’m talking about because I think a lot of people will be able to relate to this and hopefully there’ll be a few lightbulb moments as we go through the material.
Before we got started in the online coaching space and really started focussing on Facebook groups and all the marketing systems and everything, we used to run a very different type of business.
It was still our own thing and we’d worked hard on it and built it from the ground up.
Our business was, we used to sell decorative mouldings… you know those fancy scroll type carvings that you see on expensive furniture. Well we used to make those out of resin and people could stick them on furniture, or just about anything else and paint them so you could make just about anything look fancy.
Now, just like everyone else who starts a business, we started small and gradually got bigger and bigger.
We built ourselves a nice website and rented a little industrial unit to make the mouldings from, and we had a shop attached to that so we could sell them to, and things were going pretty good.
And we did that for quite a few years.
We sold these mouldings to all sorts of customers from private individuals, to big hotel refurb companies. We even sold to Movie production companies like Pinewood studios.
Our mouldings were used in a Batman movie, the Prince of Persia movie, TV shows… all over the place really.
And eventually we grew to be pretty much the go-to supplier of decorative mouldings worldwide.
But there was always one thing that really gnawed away at the back of my mind.
There was something missing from the business model.
Well two things actually.
You see the one big thing that was missing from our business was LEVERAGE.
Now the word leverage is something that you’ve probably heard bandied around the Internet, but what does it really mean?
Well, let me quote the famous Mathematician and philosopher Archimedes who famously said ‘Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.’
In other words leverage is the ability to move huge things with just a minimal amount of force.
That ‘lever’ amplifies the energy that you’re able to apply on your own.
So by building in leverage using the right tools you can put in a relatively small amount of effort and still have a huge effect.
That’s what was missing!
If we made a sale, we had to make up that order and ship that order out and if we made another sale, we had to do it all over again.
And to make an order took a lot of effort, you know we’d have to mix up all the chemicals and pour the cast. Then when it was set I’d have to sand down the backs of the mouldings so they were nice and flat on a belt sander. Then we’d have to sand all the edges so each moulding was all nice and neat.
Needless to say, the mess it all made was horrendous with all the dust from the sander.
I’d have to wear a mask and gloves because I’d get covered in all the resin dust, and I’d kinda walk out of the sanding area looking like some kind of possessed snowman I was covered in so much white powder.. It was hard work and there was no way to really scale it because there were only so many orders you could make in a day without bringing in more people to help and that was a health and safety nightmare. Not to mention increased costs and needing a bigger place to work from and all the things that come with it.
No, with the business being as it was there was no way to do something just once and sell it over and over again.
I always wanted that business model where you could create something once and just keep on offering it to more people without having to create it all over again.
I wanted to set up systems where I could be everywhere 24/7 even when I was actually somewhere else doing something else.
And that meant we had to make a change to a business that allowed us to leverage our efforts.
The other thing that I mentioned, which we could really talk about for hours but we won’t do right now is the fact that anyone could, and probably would try to copy our business model and just try to undercut us on price.
And there were quite a few that tried to do just that.
But as the marketing legend Dan Kennedy famously said ‘competing on price is like a race to the bottom’ and we knew that we didn’t want to get into playing that game.
So why am I bringing this up and what’s it got to do with Facebook groups?
Well because Facebook groups not only allow you to leverage your efforts and your influence, they also stop people from coming along and just trying to beat you by being cheaper than you.
Let’s dig into how it works a little bit…
1, When you build a good sized Facebook group, you get to impact and influence a lot of people all at the same time with the content that you create as well as the offers that you get to make.
This is kinda the holy grail of marketing.
I’d always think of it like ‘the rockstar model of success’.
This is because a rockstar can go into a recording studio and record a song and then sell that song to a huge audience of people for years without having to actually sing it again.
Then they can compound their efforts by producing more and more songs using the same model.
It’s the same with our group… now whilst we can’t all be rockstars, we can all create digital assets that we put in front of our group members over and over again without having to keep creating new content for every single person.
This means we can leverage our efforts and multiply the hours that we’ve got available to us in a day because we can create one asset and show it to Thousands of people at a time.
Not only that but because it’s inside a Facebook group, we can make it so that it’s constantly visible by putting that asset into a guide.
So it’s not like a personal profile where we create a post and it’s disappeared into the newsfeed in literally minutes.
This means we can compound our marketing efforts and keep making offers to put in front of our audience, and then every new member that we get is another new prospect that can be added to our group and be shown our offers in there.
The second way that a Facebook group leverages your efforts is the fact that it amplifies your influence through generating a TON of social proof for you and your brand.
When you’re out there on your own trying to build a business and you tell your customers that you’re the best at what you do and you say ‘Yep, I can help you get that thing that you want to get’, chances are the person hearing it is going to be a little skeptical.
BUT, if you’ve got a whole Facebook group of people telling everyone how you helped THEM get the thing and cementing the fact that you’re the real deal, it amplifies your authority and your influence massively so you don’t have to work so hard to sell to people.
This is one of the biggest ingredients to effortless selling, when you’ve got a group full of people who you’ve helped, all telling others that you can, in fact do what you say and help them to get the result they’re looking for.
It allows you to leverage your audience to amplify the trust that you’re trying to build with people who are new to your group, so at every opportunity you should be asking for testimonials and comments about how you’ve helped people get results inside your group.
The Third thing that a Facebook group allows you to do is to build a real connection with your audience based of your core principles and your personality.
When your group members buy into you and your brand because you’ve delivered content that’s helped THEM, it’s going to make it very difficult for other people to try to muscle in and steal the attention of your audience.
So before we wrap up this episode, let me just ask you this question.
Are you leveraging your time and your energy when it comes to your marketing efforts?
Do you have systems or methods in place that allow you to create something once and put it in front of hundreds, thousands or even tens of thousands of people without having to work any harder than if you were showing it to one person?
Do you have a way of differentiating your business from other people in the market who might be offering the same products that you do?
If not, then it’s something that you need to give some serious thought to because in this competitive space we need to be able to leverage our time and make our brand unique by offering something that our competitors can’t.
And that’s the value that you bring to your community and the relationship that you’ll build with your group members.
So if you’re spending too much of your time online chasing individuals around the Internet, trying to convince them to take a look at your offers, then I’d encourage you to build a system that allows you to exponentially multiply and leverage your efforts.
Now a Facebook group is by no means the only way to do that, BUT it’s the least technical and the cheapest way there is to build an audience around a message and make offers to them. Groups are free and they’re an easy way to get people into your marketing ecosystem because you’re not asking them for any information to join, so it’s a natural next step for them.
Now if you don’t have a group yet, or you need a bit of help building your group, I’d be remiss if I didn’t encourage you to join our free Facebook group Tribegeeks.
We offer lots of tips and practical advice in there about the best way to build your group to make more sales and more impact for your business.
I’ll leave the link in the show notes if you’d like to check it out.
Anyway, I think that’s it from me.
I’ll see you again next time.
As always, don’t forget to subscribe if you’re enjoying the podcast
And thanks for listening.