WEBVTT NOTE This file was generated by Descript 00:00:00.049 --> 00:00:00.539 Hey Bo here. 00:00:00.539 --> 00:00:04.079 I wanna share what I believe are the two biggest bottlenecks 00:00:04.139 --> 00:00:06.300 that US entrepreneurs face. 00:00:06.509 --> 00:00:10.830 And if your business is not where you want it to be, if you're struggling in any way 00:00:10.830 --> 00:00:14.159 in your business, if you don't have the business of your dreams, it's probably 00:00:14.159 --> 00:00:16.020 related to one of these two things. 00:00:16.715 --> 00:00:20.194 First, we have to realize that we are in a trust recession. 00:00:20.704 --> 00:00:24.875 People don't trust as easily as they used to because everybody's 00:00:24.875 --> 00:00:25.984 trying to sell them something. 00:00:25.984 --> 00:00:28.864 You know, everybody is out there saying that their product 00:00:28.864 --> 00:00:30.275 or service is what you need. 00:00:30.454 --> 00:00:32.224 It's the solution to your problems. 00:00:32.644 --> 00:00:36.394 And it's just, it's just hard to trust people when you know that they're just 00:00:36.544 --> 00:00:37.864 trying to sell you something, right? 00:00:38.164 --> 00:00:42.215 And so I think people are really looking for more authentic creators. 00:00:42.574 --> 00:00:45.185 People are buying from people who they actually like. 00:00:45.615 --> 00:00:49.245 Know, like, and trust people that they've been following maybe for many months. 00:00:49.634 --> 00:00:53.984 And that's something you have to realize is like people need to be nurtured 00:00:53.984 --> 00:00:57.285 over many months, maybe even years before they actually buy from you. 00:00:57.674 --> 00:01:00.345 And I think most people are just too focused on the short term. 00:01:00.345 --> 00:01:04.095 They're trying to convert their audience into sales as fast as possible. 00:01:04.229 --> 00:01:08.729 Yeah, and they're not doing the, the hard work that that's required 00:01:08.729 --> 00:01:12.600 to nurture an audience over time and to just deliver value. 00:01:12.690 --> 00:01:15.539 I don't even like the word nurture, actually, because it sounds like 00:01:15.539 --> 00:01:18.179 you're just like warming them up so that eventually they'll buy from you. 00:01:18.600 --> 00:01:22.410 But really it's just like being helpful, being helpful over a long 00:01:22.410 --> 00:01:26.009 period of time to the point where people are gonna trust you enough to 00:01:26.009 --> 00:01:29.669 actually buy something from you, maybe a higher ticket product or service. 00:01:30.329 --> 00:01:34.109 And I realized this a while ago because I was on this guy's email 00:01:34.109 --> 00:01:37.710 list I remember for years, and I saw this guy, he launched his product 00:01:37.710 --> 00:01:40.770 every year, like I think he just did one launch a year for this product. 00:01:41.250 --> 00:01:44.489 And I watched him launch this product like over four or five years. 00:01:44.489 --> 00:01:48.359 And I never bought, but in like the fifth year that I saw him launch it, 00:01:48.479 --> 00:01:52.979 I bought, and if he would've just been focused on short term marketing tactics 00:01:52.979 --> 00:01:56.310 and just trying to extract the most amount from his audience as possible 00:01:56.310 --> 00:01:57.690 in the shortest amount of time, like. 00:01:58.245 --> 00:01:59.685 Do you think he would've made that sale? 00:01:59.685 --> 00:02:00.255 Probably not. 00:02:00.255 --> 00:02:04.155 You know, like if he wasn't consistent and if he didn't show up year after year, he 00:02:04.155 --> 00:02:05.354 wouldn't have made that sale, you know? 00:02:05.354 --> 00:02:09.825 So that just showed me like, oh, some people are gonna take a long time to buy, 00:02:09.825 --> 00:02:11.475 and so you just have to stay in the game. 00:02:11.475 --> 00:02:13.874 That's the whole point of the game, is just to stay in the game. 00:02:13.874 --> 00:02:14.085 Right. 00:02:15.075 --> 00:02:16.935 And people are just thinking too short term, I think. 00:02:16.935 --> 00:02:20.655 And people are just thinking about the money, thinking about how they can extract 00:02:20.655 --> 00:02:23.565 the most amount of money from their audience in the shortest time possible. 00:02:23.565 --> 00:02:25.785 And that's just, that's not gonna help you win. 00:02:25.815 --> 00:02:29.295 You know, like if you really wanna win, you have to show 00:02:29.295 --> 00:02:30.705 your personality a little bit. 00:02:30.705 --> 00:02:32.025 You have to put yourself out there. 00:02:32.025 --> 00:02:33.225 You have to make content. 00:02:33.255 --> 00:02:36.315 You have to show your face, let your voice be heard. 00:02:36.555 --> 00:02:39.615 You gotta write emails to your email list on a regular 00:02:39.615 --> 00:02:41.445 basis, consistently over time. 00:02:42.299 --> 00:02:47.189 You gotta do all these things without the thought of like instant gratification 00:02:47.309 --> 00:02:50.489 without the thought of like, how much money is this gonna make me when I send 00:02:50.489 --> 00:02:53.910 this email to my email list, how much money is this podcast gonna make me 00:02:53.910 --> 00:02:55.949 when I record it or this YouTube video? 00:02:55.949 --> 00:02:57.780 It's like, that's how a lot of people think. 00:02:57.840 --> 00:03:00.270 And I know that because I used to think that way too. 00:03:00.270 --> 00:03:03.059 And I used to be a little bit too obsessed about that, like 00:03:03.059 --> 00:03:04.619 the results of everything I did. 00:03:04.619 --> 00:03:06.150 And I thought about things in a very like. 00:03:06.600 --> 00:03:08.250 Direct response sort of way. 00:03:08.250 --> 00:03:11.220 Like, if I do this, what's the immediate outcome? 00:03:11.220 --> 00:03:13.350 Or like how much profit is this gonna generate? 00:03:13.350 --> 00:03:17.490 And I thought of everything in kind of that analytical numbers sort of way. 00:03:17.790 --> 00:03:20.760 But what I've found is that, one, it's stressful if you're 00:03:20.760 --> 00:03:21.750 always thinking like that. 00:03:22.230 --> 00:03:24.720 And then two, it doesn't really work like that. 00:03:24.720 --> 00:03:26.910 The game isn't a linear game like that. 00:03:26.910 --> 00:03:29.835 Like that's how people think is like, oh, if I do this, then I'll get this result. 00:03:30.825 --> 00:03:33.554 And it's just so much more complex than people realize. 00:03:33.554 --> 00:03:36.510 Like the whole internet marketing game, it's like people might have to. 00:03:37.410 --> 00:03:40.619 They like, they might watch your YouTube video and then they see your 00:03:40.619 --> 00:03:43.619 ad and then they sign up to your email list finally, and there's, 00:03:43.619 --> 00:03:44.999 there's like so many touch points. 00:03:45.270 --> 00:03:48.270 And then they read your emails for a few months and then they click on a 00:03:48.270 --> 00:03:51.420 link in one of your emails finally, and then that takes 'em to an application. 00:03:51.420 --> 00:03:52.829 And then they apply to work with you. 00:03:53.160 --> 00:03:55.889 And then maybe they don't buy the first time they apply to work with you, but 00:03:55.889 --> 00:03:58.770 then they keep reading your emails over more months and then they watch 00:03:58.770 --> 00:04:00.059 some more YouTube videos from you. 00:04:00.420 --> 00:04:02.850 And there's like all these touch points that happened before. 00:04:02.850 --> 00:04:04.410 Maybe someday they finally. 00:04:05.025 --> 00:04:05.895 Choose to work with you. 00:04:05.895 --> 00:04:06.615 They choose to buy. 00:04:06.705 --> 00:04:08.715 You know, that's how it actually works. 00:04:08.715 --> 00:04:11.895 It's not like a step one, step two, step three, like, oh, someone sees 00:04:11.895 --> 00:04:15.075 my ad, then they buy my product, then they buy my other product. 00:04:15.345 --> 00:04:18.255 And it's not like a funnel like that, a traditional funnel. 00:04:18.255 --> 00:04:19.995 That's how people think of online marketing. 00:04:19.995 --> 00:04:22.635 But it doesn't really work like that in the real world. 00:04:22.995 --> 00:04:25.725 That's a simplified, very basic way of thinking about it. 00:04:26.085 --> 00:04:26.865 But in reality. 00:04:27.525 --> 00:04:32.505 Your business is this ecosystem and this ecosystem of all these different moving 00:04:32.505 --> 00:04:38.775 pieces is really designed to build trust over time, to add value over time and 00:04:38.775 --> 00:04:44.025 to pos position yourself as an expert in your industry over a long period of time. 00:04:44.564 --> 00:04:49.184 And eventually all of all of those things compound and create trust at scale. 00:04:49.424 --> 00:04:53.235 And that's when you can have massive, massive amounts of success. 00:04:53.475 --> 00:04:54.645 Like look at Hormoz. 00:04:54.885 --> 00:04:57.075 Hormoze had a hundred million dollars launch. 00:04:57.675 --> 00:04:58.095 Why? 00:04:58.095 --> 00:05:01.245 Because he has been showing up consistently for years, 00:05:01.425 --> 00:05:03.495 delivering value, building trust. 00:05:04.034 --> 00:05:06.705 Like for years he didn't even sell anything, you know? 00:05:07.005 --> 00:05:08.625 So he was just building that trust. 00:05:08.655 --> 00:05:10.335 People trusted him as an authority. 00:05:10.335 --> 00:05:14.775 He was showing his expertise, and when the time came for 00:05:14.775 --> 00:05:17.025 him to finally sell something. 00:05:17.954 --> 00:05:22.245 People bought, you know, and he made a lot of money because he had that trust. 00:05:22.635 --> 00:05:26.025 So I think that's what you, what you have to realize is like it's a game of trust. 00:05:26.294 --> 00:05:29.895 There are ways to accelerate trust building, like for example, 00:05:29.895 --> 00:05:33.765 by making more long form content as a way to build trust faster. 00:05:34.125 --> 00:05:37.725 So if you're not making long form content, long form podcasts or YouTube videos, 00:05:37.939 --> 00:05:39.674 that's something you need to be doing. 00:05:39.794 --> 00:05:42.674 Like I think that's really, really important. 00:05:43.605 --> 00:05:47.294 Is to have some type of long form content and to also show your face, 00:05:47.444 --> 00:05:51.525 like let people see you on camera, you know, and get a feel for who you 00:05:51.525 --> 00:05:53.350 really are, or at the very least. 00:05:54.345 --> 00:05:58.605 Let your voice be heard through like a podcast like I'm doing right now because 00:05:58.845 --> 00:06:01.575 the voice transmits so much information. 00:06:01.635 --> 00:06:05.685 And also when people see your face, trans transmits so much information to 00:06:05.685 --> 00:06:08.235 people so people can actually read you. 00:06:08.385 --> 00:06:12.135 They actually get a feel for who you are and if they, and they start to sense 00:06:12.135 --> 00:06:13.695 whether they can trust you or not, right? 00:06:14.355 --> 00:06:16.725 So trust is so important when it comes to sales. 00:06:16.725 --> 00:06:19.424 If you're not making the amount of sales that you want in your business, it's 00:06:19.424 --> 00:06:21.495 probably because people don't trust you. 00:06:22.155 --> 00:06:23.324 Because people just don't know you. 00:06:23.715 --> 00:06:26.564 You know, it's not anything personal, it's just because you probably haven't 00:06:26.564 --> 00:06:30.314 been showing up consistently enough for people to even have a chance to get 00:06:30.314 --> 00:06:31.814 to know you and trust you, you know? 00:06:32.204 --> 00:06:33.734 So you gotta give people a chance. 00:06:33.824 --> 00:06:35.025 You gotta put yourself out there. 00:06:35.115 --> 00:06:35.895 That is key. 00:06:36.885 --> 00:06:40.034 The other thing, the second thing, that's the big bottleneck 00:06:40.034 --> 00:06:42.615 for most creators is traffic. 00:06:43.184 --> 00:06:47.414 Most people, I find greatly underestimate the amount of traffic that they 00:06:47.414 --> 00:06:48.824 have to generate in their business. 00:06:49.320 --> 00:06:51.840 Most people are posting on social media. 00:06:51.900 --> 00:06:55.110 Maybe they're posting some Instagram videos or whatever, some carousel 00:06:55.110 --> 00:06:59.159 posts, or doing some YouTube videos, and they get a little bit of traffic. 00:06:59.159 --> 00:07:03.210 They get a few clicks a day maybe to their landing page, and maybe they get 00:07:03.210 --> 00:07:07.230 a couple email subscribers a day signing up to their email list, and that's 00:07:07.260 --> 00:07:11.220 all cool, and you can grow that over time and that can increase, of course. 00:07:12.075 --> 00:07:13.784 But that's not enough traffic. 00:07:13.905 --> 00:07:18.044 You know, if you really want your business to like go to multiple six 00:07:18.044 --> 00:07:22.605 or seven figures in the next year or two, you need to be generating 00:07:22.605 --> 00:07:23.715 way more traffic than that. 00:07:23.715 --> 00:07:27.044 You cannot be satisfied with like getting a couple clicks a day to 00:07:27.044 --> 00:07:30.075 your page, to your sales page, or to your opt-in page or whatever. 00:07:30.765 --> 00:07:32.510 You have to find ways to generate. 00:07:33.239 --> 00:07:34.559 Massive amounts of traffic. 00:07:34.589 --> 00:07:37.679 That's the fastest way to grow your business, is just generate more traffic. 00:07:37.679 --> 00:07:40.530 If you double your traffic, you'll double your business. 00:07:40.530 --> 00:07:43.319 If you 10 x your traffic, you'll 10 x your business. 00:07:43.319 --> 00:07:47.489 Even if nothing else changes, even if all your marketing and stuff stays the same. 00:07:47.849 --> 00:07:50.609 If you're able to generate 10 times more leads, you're 00:07:50.609 --> 00:07:51.959 gonna make 10 times more money. 00:07:52.229 --> 00:07:54.929 You know, it's just a basic math equation, you know? 00:07:54.929 --> 00:07:55.919 And then if you. 00:07:56.505 --> 00:07:59.865 Improve your marketing and your backend products and stuff and 00:07:59.865 --> 00:08:03.375 say you double that, then you're gonna double your business. 00:08:03.405 --> 00:08:06.765 Like if you can 10 x your traffic for example, then you 10 x your business. 00:08:06.914 --> 00:08:10.304 But then if you double your marketing efforts on the backend and, and 00:08:10.334 --> 00:08:13.454 have a better product or increase your customer lifetime value and 00:08:13.454 --> 00:08:17.354 stuff and you double that, well then you just 20 x your business. 00:08:17.414 --> 00:08:18.765 That's two times 10, you know? 00:08:18.765 --> 00:08:21.974 So just by making a little few changes in your business, you can 00:08:22.125 --> 00:08:25.245 20 x the amount of money you're making in a short amount of time. 00:08:25.905 --> 00:08:27.554 And it's not as hard as people think. 00:08:27.554 --> 00:08:30.735 The way to 10 x your traffic is not to just keep hustling 00:08:30.735 --> 00:08:32.235 and doing 10 times more. 00:08:32.625 --> 00:08:36.164 Uh, that's what Hormoz would probably tell you is like, just do 10 times more. 00:08:36.164 --> 00:08:38.324 Just post 10 times a day instead of once a day. 00:08:38.985 --> 00:08:40.005 That's not my philosophy. 00:08:40.005 --> 00:08:42.015 That's not what I'm, I got into this game for. 00:08:42.015 --> 00:08:44.805 I didn't be, I didn't get into this game to be an influencer 00:08:44.805 --> 00:08:46.875 and to be social media famous. 00:08:47.235 --> 00:08:51.015 I got into this business so I could help people and also create a good level 00:08:51.015 --> 00:08:54.015 of freedom for myself and my life and my fam and for my family, you know. 00:08:55.064 --> 00:08:58.874 And so if you don't wanna post 10 times a day on social media and play that 00:08:58.874 --> 00:09:01.454 whole game, then you have to be smarter. 00:09:01.515 --> 00:09:03.374 You have to work smarter, not harder. 00:09:04.124 --> 00:09:06.165 So you have to find ways that you can get leverage. 00:09:06.494 --> 00:09:11.025 How can you do the same amount of work but get 10 times the results? 00:09:11.475 --> 00:09:13.155 And I'm biased. 00:09:13.155 --> 00:09:15.345 Maybe because this worked for me. 00:09:15.345 --> 00:09:16.605 This has always worked for me. 00:09:16.905 --> 00:09:19.905 But paid ads, I believe are the way to do that. 00:09:20.265 --> 00:09:23.475 That is the way that you can take one piece of content that you created and you 00:09:23.475 --> 00:09:25.905 can amplify that to millions of people. 00:09:26.385 --> 00:09:29.745 So instead of posting on Instagram every day trying to get views, you 00:09:29.745 --> 00:09:34.185 could just post once, just get one video, just make one good video. 00:09:34.515 --> 00:09:37.545 Instead of having to make 30 videos like one a day, you could 00:09:37.545 --> 00:09:39.105 just make one video a month. 00:09:39.555 --> 00:09:43.665 And then put some ad spend behind that video, and you would get probably more 00:09:43.665 --> 00:09:47.415 views on that video than you got from ins from posting on Instagram every day. 00:09:47.415 --> 00:09:47.775 You know? 00:09:48.015 --> 00:09:53.295 So you're doing one 30th of the work, you're doing way less work, 00:09:53.474 --> 00:09:57.525 but you're getting the same, if not greater rewards from that, you know? 00:09:57.974 --> 00:10:01.995 So that is how you can work smarter, not harder, is by thinking about 00:10:01.995 --> 00:10:05.204 ways that you can use your money for growth instead of your time. 00:10:05.895 --> 00:10:08.625 Because your time is always gonna be a limited resource. 00:10:08.835 --> 00:10:11.445 There's always gonna be a limit on how much you can grow. 00:10:11.445 --> 00:10:14.595 If you're thinking in, in that way, you know, like, how can I just do 00:10:14.595 --> 00:10:15.765 more of what I'm already doing? 00:10:16.185 --> 00:10:19.095 Probably you're already burned out and so you don't want to be doing more. 00:10:19.635 --> 00:10:21.105 Now, there's other ways to get leverage. 00:10:21.105 --> 00:10:23.115 Like you could hire people to do stuff for you. 00:10:23.175 --> 00:10:27.075 Maybe instead of editing your own videos, you hire somebody to edit them for you, 00:10:27.285 --> 00:10:29.865 and that's a way to get a little bit of leverage, so then you can post more, 00:10:29.895 --> 00:10:31.680 more videos with less effort, you know? 00:10:32.204 --> 00:10:35.655 So paid ads aren't the only way, but that's just my preferred way 00:10:35.655 --> 00:10:39.375 because that has been the biggest game changer for me is running ads. 00:10:39.885 --> 00:10:43.725 I started running ads in in 2020, and it completely changed my life. 00:10:43.755 --> 00:10:48.045 I went from struggling to pay my rent to making multiple six figures 00:10:48.045 --> 00:10:49.965 in profit in less than a year. 00:10:50.324 --> 00:10:54.824 It completely changed everything for me, and so I'm biased maybe, but that's 00:10:54.824 --> 00:10:58.005 what I recommend to most people is like, figure out the paid ads game. 00:10:58.605 --> 00:11:00.645 Not saying that you shouldn't do organic marketing. 00:11:00.645 --> 00:11:01.785 You should do both. 00:11:02.175 --> 00:11:06.105 But get both of them working because you never want to be single source dependent. 00:11:06.285 --> 00:11:09.255 That's a big mistake creators make is they, they only have 00:11:09.255 --> 00:11:11.175 one source for their leads. 00:11:11.565 --> 00:11:14.085 And if that's organic marketing, then that's, that's the 00:11:14.085 --> 00:11:15.075 only way you can get leads. 00:11:15.075 --> 00:11:15.345 Right? 00:11:15.675 --> 00:11:18.795 But if you have paid ads working and organic marketing working. 00:11:19.365 --> 00:11:21.015 Now you're not single source dependent. 00:11:21.015 --> 00:11:23.955 Now you have leads coming from two different flows, two different 00:11:23.955 --> 00:11:27.795 sources, and then also the organic marketing helps reduce your cost 00:11:27.795 --> 00:11:29.265 per acquisition for the ads. 00:11:29.265 --> 00:11:31.275 So it makes your ads cheaper, basically. 00:11:32.025 --> 00:11:35.055 And then people from your ads are gonna see your organic content, and then they're 00:11:35.055 --> 00:11:36.915 gonna buy maybe from your organic content. 00:11:36.915 --> 00:11:39.555 So your ads work better, your organic content works better. 00:11:39.885 --> 00:11:42.795 People follow you on Instagram or whatever because they saw your ad. 00:11:43.095 --> 00:11:47.385 So like having both of those running, I call it hybrid marketing. 00:11:47.940 --> 00:11:49.740 A combination of organic and paid. 00:11:50.100 --> 00:11:53.130 Having both of those running, that's gonna be the thing that really 00:11:53.130 --> 00:11:56.790 puts Rocket fuel on your business and takes you to the next level. 00:11:57.390 --> 00:12:00.210 So, long story short, those are the two things you need. 00:12:00.210 --> 00:12:03.660 You need to a way to generate a lot of traffic in your business and get more 00:12:03.660 --> 00:12:07.380 people to click on your links, more people to see what you have to offer. 00:12:08.100 --> 00:12:09.480 And then you need people's trust. 00:12:09.660 --> 00:12:13.290 You need both of those things because just because someone like clicks 00:12:13.290 --> 00:12:16.680 on your link and they go sign up to your lead magnet or whatever, doesn't 00:12:16.680 --> 00:12:17.760 mean that they're gonna buy from you. 00:12:18.000 --> 00:12:20.790 Most likely they're never gonna buy from you, probably because you don't 00:12:20.790 --> 00:12:22.560 have a good follow-up process in place. 00:12:22.890 --> 00:12:25.140 You don't have consistent emails that are going out to those 00:12:25.140 --> 00:12:26.310 people after they sign up. 00:12:26.610 --> 00:12:29.310 You're not making long form content that builds trust with 00:12:29.310 --> 00:12:30.930 people over a long period of time. 00:12:31.260 --> 00:12:35.130 You have to have all of these pieces in place if you want to have a truly 00:12:35.190 --> 00:12:36.480 successful, prosperous business. 00:12:37.545 --> 00:12:38.445 So I hope that helps. 00:12:38.505 --> 00:12:40.335 I'll talk to you in the next one piece.