Part 2a) Why Business Fail:
They don’t understand the difference between “Gasoline” and “The Engine”
I want to get one thing clear right off the bat….
ANY IDIOT CAN BUY ADVERTISING!
To give you an example, my grandma learned in 10 minutes how to buy a Facebook Ad to promote her local bunko group. She’s 88 flippin years old!
NOTE: I want to be transparent here before I dive into this, I get heated when talking about buying advertising. I have so many business owners tell me that Facebook Ads, Google Ads, TV Ads, etc don’t work and it infuriates me. I get infuriated because this type of thinking stops so many great businesses from getting the exposure they deserve by using Facebook Ads, Google Ads, TV Ads, etc. THERE IS NO SUCH THING AS BAD ADVERTISING! The only way advertising can harm your business is if you are not prepared to funnel the power of these ads correctly. If you only take one thing away from this training, please let it be this section. During my live presentations, this is normally where I get animated and start swearing. Hopefully in this written format my awesome editing team will be able to keep it on point.
(NOTE from Editors): The things we have had to delete…..actually just kidding, it was more like a lot of bad spelling and angry whining.
So please stop giving people like “Facebook Ad Experts” and “Google Ad Experts” the time of day. These people are ruining businesses and cannot solve your problems.
Simple. Paid advertising is like gasoline. Extremely powerful, easy to get in bulk and available everywhere. It’s also relatively cheap (unless you live in California, where gas stations require a kidney every time you fill up).
Paid advertising and gasoline are also similar in that when you buy a bunch of it and then ignite it/turn it on, things can get exciting and out of control fast.
POP QUIZ: what happens if you buy 15 gallons of gasoline and light it? Will you be able to travel at a steady 65mph for 400+ miles?
No, you’ll burn your eyebrows off and scare the **** out of your neighbors.
But what happens if you put these 15 gallons into a 2.0 liter metal cylinder and THEN “turn it on”?
You are able to travel at 65mph for 400+ miles.
Did the gasoline change? No, its the same stuff, the only difference is you added in a environment YOU control aka…..your ENGINE!
Your gasoline can burn your entire business to the ground if your engine isn’t perfect. If you want to drive as fast as possible to $10 million a year, you need to put all that gasoline in good engine.
As I said, any idiot can buy advertising. It takes a expert to put together a good “engine” and actually profit from that advertising.
To recap, “gasoline” is anything that draws attention to your business (paid AND free). Just buying gasoline (advertising) without a healthy engine will NEVER make you money. In fact, as many of you reading this have probably experienced first hand, it will burn your bank account dry faster then you can blink.
Your “engine” is anything that interacts with people ATTRACTED by your “gasoline” (advertising).
The obvious one here is your website but there is much more to it then just your digital properties.
Your “engine” includes:
1) your landing pages (the specific page/message they see on your website OR physical flyers and pamphlets you hand them in person)
2) your phone system (and recorded messages)
3) your front desk (and what he/she says when they first answer the phone)
4) your indoctrination sequence (what message(s) are sent between the time they schedule with you and when they actually meet you in person).
5) your office environment (the first impression they get when they meet you and/or your staff)
6) Your closing followup sequence (what type of message(s) they receive from the time they meet you until the time they buy)
7) Your buyer followup sequence (what type of message(s) they receive AFTER they buy from you so you can continue to profit for years to come.)
Here is the “Gasoline vs Engine” graphic once more now that we have gone over the details.
Gasoline “attracts”, the Engine “converts”.
One does not work without the other BUT the engine is far more important then the gasoline and therefor should be treated with much greater attention to detail.
To give you an example, a company bought over $100k worth of paid ads on Google and Facebook.
A few months before this campaign launched, they had hired a website development company to build them a brand new “pretty” website.
This company spent over $220k on this first campaign. When all was said and done, this company did not even break even on their initial $100k ad spend, much less the additional cost of the website, etc.
This all happened before they met me.
Shortly after this campaign, this same company invested in my services. I made some “small” changes including messaging on their site, adding some followup campaigns and giving their phone staff specific scripts.
We then ran the campaign again with only $20k in ad spend and this same company made over $500k profit in 3 months.
$80k LESS gas, simple modifications to the engine, $400k MORE profit.
Everything I did for this company was based on the 5 Step Funnel (aka “The Engine”) I’m about to teach you. Even more importantly, it wasn’t huge changes. Everything was small tweaks.
I don’t say this to brag, I say this because I want you to pay attention to something that a) is easy to implement and b) will change your life.
NOTE: You also do NOT need $100k or even $20k in advertising dollars to take advantage of this 5 Step Funnel. I have lots of case studies of students who started out with just $250 in ad spend. I say “started out” because the goal of this 5 Step Process is to put $1 in and get at least $2 back out. This means you’ll quickly have much more advertising budget to play with with.