Digital Marketing for Your Small Business-My 2 Step Formula for Success

okay this video is coming to you from
Seville in Spain Seville is a fabulous City World War two visited strongly
recommended fabulous Moorish influence architecture buildings you see a tower
there behind me that’s a Moorish Tower going back hundreds of years centuries
and the Cathedral here Seville Cathedral which I visited earlier on has his
biggest cottage occasion in the world and it has obviously Christian
influences and so on so if a mix of the barak you have a mixture of Christian
you have a mixture of Moorish of a mixture of the cultural heritage of
Islam here and so on and so forth Moors and the Christians etc but this video
short video is opposed how to advertise your business or how a small business
should advertise should promote themselves and the one thing that I
suggest that you do and make it their business to do is to one fish where the
fish are in other words if you see behind me there there’s a coyote and the
guy they are selling water and coke diet coke and he’s selling beer and so on if
you consider it’s 30 degrees such this here today in Seville so that guy that
selling water has plenty of fish so he’s fishing essentially where the fish are
in AD versus people here who need and want water
who wants coca-cola Dacor beer or whatever would
you want some sort of sustenance some sort of liquid sustenance he’s fishing
her the future from your perspective in 2019 I’m suggesting to you that you need
to very very intentionally and very very carefully and very assiduously study
exactly who your potential market is and fish there it’s going to take you a
little bit of trial and error it’s going to take a little bit of hidden miss it’s
going to take quite a few experiments using for example Facebook using
Facebook advertising using YouTube using YouTube advertising using Instagram
using Twitter all of the platforms that are out there all of the ways you can
essentially fish where the fish are where your people are for your potential
market is that’s where you need to be targeting your message obviously there’s
no point trying to sell snow or ice to Eskimos or selling products or services
to people who don’t want them for example if you’re selling let’s say dog
training no point targeting people who don’t have dogs so you need a fish where
the fish are you need to do trial and error and after
a while of smart advertising smart trial and error hidden miss you will
eventually carve out a very bespoke marketing program for you it’s not going
to be one that’s handed to you on a plate by some so-called digital
marketing or online marketing expert it’s going to be one that’s carved out
for you and built and designed by you because only you know your business and
your market as well as you do but the best thing you can do is spend a
little bit of time a little bit of money studying where your market is where they
hang out where you’re likely to meet them the second thing you need to do
then is provide value in advance so you don’t want to just give them a message
of buy my shit I’ll give them a message of utility
usefulness what you do is you give useful information or perhaps even a
trial of your product up front at the beginning without any obligation what
you’re doing is you’re providing value in advance VI a value in advance you’re
providing utility whatever you’re doing whether it’s a tip for example in my
game I provide free information about employment law but property law and so
on I provide all of this information upfront free gratis and people
eventually then say Jesus that was fairly useful demand can’t be all bad
that was a useful tip I must get on to him about this particular problem and
see what he knows about it but my philosophy and my strategy is not to
target you were anybody else that said please buy my stuff please use me as a
slicer the country is full of good solicitors
what I do is I provide value in advance they provide useful information or a
useful tip something of value something of utility up front in advance and I
suggest that you do the same thing in your business so two things I suggest to
grow your business to advertise your business number one fish heard a fish
are discover where your people are and meet them there and to provide value in
advance provide utility give them something useful hope you find this
video useful if you do give it the thumbs up down below and I’m gonna have
to say enough now it’s 30 degrees C here and my phone is HTML and I gotta get
back onto the bus to go back to algo Farah you may be interested in
subscribing to our YouTube channel and make a new video once a week every
Saturday about Irish business or I restore hope you find this one useful if
you do as I say I just give it a thumbs up down below thanks

How does CallJoy work?

This was my phone before CallJoy. This is my phone now. Thanks for calling Leo’s plumbing, in a few
words, how can I help you? As a small business owner, my to do list is
never ending. I don’t always have time to answer every call. Thankfully, I found CallJoy, a customizable
agent that’s available to answer every call I receive, 24 hours a day. I’ll never miss a call again. Setup takes less than 5 minutes. And CallJoy records and transcribes all my
incoming calls so I can review them anytime. My CallJoy agent responds to the unique needs
of each customer. It understands essential information about
my business and uses it to answer common questions. I no longer have to deal with repetitive calls
about my open hours or how to schedule an appointment. The CallJoy agent saves me time, so I can
focus on urgent client requests and more important tasks. I want my customers to have a great experience. And I want my business to sound professional. When customers call, I have call actions set
up to handle every request. For example, if they’re calling with a basic
question about open hours or location, the agent responds with those details. If they want to make a reservation, CallJoy
sends them a link to my website to book one. If they want to speak with us directly. The agent routes the call to whatever number
I want. Boom. Best of all, I get insights into all my incoming
calls, even the ones I don’t answer. Before CallJoy Ihad no idea my business was
missing 20% of calls. Twenty. Percent. As a small business owner, CallJoy helps save
me time, so I can deliver better customer service, and focus on growing my business.

How To Use Social Media Marketing For Business (Instagram Growth Secrets)

Hey Merge I started a business and I need
plans I have no network of business owners right now I am just cold calling
so what do you to suggest for someone who starts a b2b business good question
if you’re cold calling I think you’re wasting your time well your time would
be better spent is if you invested your time and your money into building your
social media platforms and creating content that would answer questions that
came up frequently when it came to your business so for example mergers really
merges first client so at the beginning back up two years ago
we invested all our time and money into building our social media platforms one
when it came to growing our audience and two when it came to creating content
that we could use to answer questions that came up frequently about our
business fast forward two years all of our work now actually has to do with
taking care of our current clients because making sure that existing
relationships last longer is a lot easier than finding new business and the
other side of our time when it comes to finding new clients is actually auditing
the new leads that come in someone call that luck but I think it’s a lot of
preparation and planning and delayed gratification by investing your time
into sending up systems and social media platforms with strong content and social
proof to help bring in new clients and optimize converting the ones that do
come in these inbound leads come from referrals from past or current clients
or from organic viewership from the content that we create on our YouTube or
Instagram I think that’s pretty cool from our own experience social media
helps automate the sales process and build trust simultaneously in the last
three months that we’ve really focused on our YouTube channel we’ve already
brought in a couple leads and one client that we’ve closed which has been amazing
and that proof of concept really shows that we have to continue to make
valuable content on our YouTube channel so if you’ve not already please make
sure you’re subscribed to our youtube channel for our weekly videos so when it
comes to my coffee right I always like to drink it black and I was like to put
ice in it can you help us hack the YouTube algorithm make sure you hit that
thumbs up button below thank you but when it comes to social
media marketing let’s go through three simple steps that you can start right
now to help propel your business to the next level the first step that I want
you to focus on is figure out where your clients are what platform are they using
the biggest mistake that I see with the companies that I’ve worked with internal
as well as externally if they’re our client is that they try to focus on too
many platforms as once you guys have heard of the phrase of jack of all
trades master of none this is the similar concept you have to figure out
what platform your clients are on and really spend your time focusing on
mastering and learning the language of that social media platform Facebook
Instagram Twitter LinkedIn YouTube all of these different platforms have
different languages you really have to deep dive into the
platform that you want to be on and understand the kind of dialect and the
language that people use in that Stern platform so for example let’s say you’re
on LinkedIn right LinkedIn is mostly for b2b businesses and people are on there
if they’re in a business mindset so the kind of content that you create and the
language you use and the captions or the description have to meet that type of
audience for example like a direct-to-consumer product a b2c
business let’s say it’s a clothing brand that’s focused on e-commerce sales you
want to jump on Instagram and really learn the language of how people
interact their Instagram is a lot more I’d say a lot more tangible of a
platform because you can really interact directly with your client base which is
awesome for a b2c business something that takes a more professional side of
things like a b2b business I would really focus your time on either YouTube
or LinkedIn because those are platforms that you can speak more at length and
more in detail about what exactly you do for other businesses remember this jack
of all trades master of none pick one or two platforms that you really want to
understand and deep dive into spend a lot of time consuming content see what
works see what doesn’t work and then cater to cater it and specialize it to
the kind of content that you want to create for your brand comment below what
social media platform you need to master to help propel your business to the next
level we’re going to pause for a bit because there’s a fire truck in the back once you figure out what platforms your
clients are on you really have to spend time understanding what your demographic
is what are their interests what kind of content could you create that would be
valuable to them I want you to detach yourself from your brand think about it
from a third-person perspective okay let’s say that you started a luxury
streetwear brand what kind of interests around that would be interesting for
your clients so let’s say these are one of our clients I would say you should
make content that revolves around hip-hop culture basketball culture and
high-end luxury fashion museums and pop ups because that I believe would be the
interest of someone who would want to buy a piece of luxury street wear on the
same note you can also bring it back to your own identity and understand what
kind of topics interests you because if you’re starting a luxurious rebrand it
probably happens that the interest that you have is very similar to the interest
that your audience has ironically when you find enjoyment in creating these
kinds of topics creating the content will be a lot easier in the past when
I’ve created a different kinds of content I found that creating content
and speaking about topics that I really care about we’re a lot easier and easier
to sustain over the long term because we’re in this for the long game right
and another common mistake that I see is a lot of people who want to create
content are hesitant to do so because of you know they say I don’t have the right
gear or I’m not sure if I’m an expert in this yet but I think the best way to
learn and get better at creating content is really trying to do it and learning
as you go so for example when I look at our old YouTube videos and we’ve been
really focusing on YouTube for I’d say 3 months now
I see that I do a lot of cuts because in my mind it’s better for my audience to
see when it’s just pieces of value right after another but with that it becomes
kind of robotic and I lose the sense of personalization and really talking to
you and I think that’s just as important as having continuous value but the thing
is I wouldn’t have learned that if I just read and watched and and listened I
had to actually do in XQ create these videos and then analyze what parts that
I could improve myself after you understand where your clientele is what
platforms to focus on what kind of con you want to make then the most important
step step number three is you actually have to sell something the Investor
Center it’s a pretty simple concept right but I see far too frequently
people forget this aspect a lot of people build their audience a lot of
people have millions of followers on YouTube and Instagram combined but they
forget the main reason why they should be using social media if they’re not
purely a creator on YouTube you have to use social media to propel your business
you have to use social media to build whatever projects you’re working on
social media is great but only if you use it as a tool to leverage whatever
you’re working on now when I say you have to sell something I’m not trying to
say you have to be spammy or you have to you know shove your product or service
down someone’s throat what I’m saying is as you build your social media following
as you focus on creating content for your platforms you still have to remind
your audience what it is that you do you don’t have to sell and every single
piece of content that you create and actually I would recommend that you only
sell I’d say 10 to 20 percent of the time when it comes to your content well
you should really focus on is building that trust building your audience
building your social proof but don’t forget to once in a while or did that
right hook and actually sell remind people of what it is that you
actually do and make sure they know where to go they’re looking for your
type of service for example we have a really good friend who lives in Tokyo
right now he’s one of the biggest influencers Asian influencers in Tokyo
he has millions of followers but we had a conversation the other day about how
it is so difficult for him to monetize his audience
besides Adsense Adsense being the money that YouTube pays that creator YouTube
Adsense money is great but that should only be a supplemental piece of income
after your main piece of business over a hundred and three thousand dollars in 30
days for example let’s say merge grows our channel to ten thousand subscribers
I think that our business as a whole will be able to make more money than a
lot of channels that are a million two million because we have a business
outside of YouTube donor your audience and having a large amount of followers
is awesome but you have to understand what proper ways that you can leverage
that towards your actual business so when we had our conversation his
response was but I don’t want to sell out I don’t want to monetize my audience
because then they’ll hate me right so if you’re just creating a t-shirt with your
logo paste song and paste it on it there might be some intrinsic value in it
because they are huge supporters of you but I want you to take the next step and
understand what kind of products or services you can create that will
benefit your user and make their lives better being afraid to sell using social
media is definitely the wrong mindset but you need to be able to pay your rent
and you need to be able to propel your business to the next level
so there comes a fine balance you want to build a strong relationship with your
audience but you also want to have the opportunity to make this creation your
living those that are consuming social media for pleasure or wasting their time
and those that are leveraging social media as a tool to propel their business
or winning personally I don’t use social media for pleasure unless it’s for
sports highlights or funny memes but when I am on social media is for
business purely business and it happens to be a byproduct that I get to help
thousands of people at the same time that’s pretty dope I’m looking at social
media purely from the standpoint of how to automate and systemize our business
period when it comes to automation you have to think about what kind of content
you can create the kind of content that we aim to
is usually answering videos or answering posts or captions we figure out what
kind of questions we get from our audience in our perspective clients and
then we make videos or caption posts that answer directly these kinds of
questions that way when I have conversations with any new client
current client or one of our audience members I can skip all of that fluff and
have detailed conversations about their brand specifically so you really have to
think about that what is your intent about social media marketing what is
that desired outcome you have when it comes to social media marketing are you
just posting of social media to get likes that’s a waste of your time you
really have to focus on the intent in your desired outcome figure out why am i
posting and what benefit will this give my business I actually have some more
rapid-fire tips for you but first I want to review these three steps before we
move on number one figure out where your clients
are on take one or two platforms and master it to figure out the interest of
your client and your potential audience what kind of content could you create
that would give them value and number three you have to sell remind your
audience what exactly it is that you do if you watch this point I’m gonna reward
you with some extra tips and strategies that we implement when it comes to
social media marketing and business in general if you have any questions or
want us to make a fuller video about any of these points please make sure you
comment below which of these points you find interesting so these are unique
ways that we brought in more clients and customers when we first started using
social media marketing so the first tip is to partner with non competitors in
your niche at the beginning we used to partner with large mean pages in the
entrepreneurial space to repost our content and in turn I would give my
business consulting about how they can generate more revenue leveraging their
social media profiles and platforms they would give us shout outs and explain to
their audience what it is that we did and in return I would help them make
more money and save time the second quickfire tip is to go on Craigslist
search jobs write a template email that you can use and under the jobs write
exactly what your agency does explain to them your point and why you are a better
solution than whatever they are looking for tip number three is email marketing
has the highest conversion rate at times as you grow your social media platforms
drive people off of these platforms and generate your email lists even if all
these platforms die email marketing is something that you can hold on to for
the rest of you career ten number four we’ve briefly
talked about this above focus on long-term partnerships when you have the
opportunity to work with amazing clients focus on those clients instead of
focusing on bringing new business out of nowhere for example let’s say it’s a
business you have $2,000 ad spend to acquire new customers keep $1,000
towards marketing to get new customers but spend $1,000 towards retaining and
nurturing the relationships that you already have in business terms that’s
LTV lifetime value of a customer versus the CAC which is the cost of customer
acquisition your LTV can many times be more valuable than your CAC to number
five is something we really focus on a year ago which is planning for scale you
know your business is gonna succeed you know where you want to be in one year
three years five years so setup systems set up potential teams and you’ll
implement into your ecosystem that will help you keep the quality as you bring
in more volume of clients your quality is imperative and it cannot deter at all
as you grow tip number six is asking the right questions a big problem that I see
when it comes to b2b businesses is that they don’t ask questions they just have
a one-size-fits-all solution then I don’t even know what kind of problems
that business that they’re potentially working with has you have to ask the
right questions because these right questions will help you come up with the
exact solution that will help the business or your future client the best
to your capabilities from my experience with working with clients and so many
different spaces these are the key takeaways that we’ve seen when it comes
to running a successful b2b business and leveraging social media marketing
correctly take note of these because these are
pretty simple the two Instagram profiles that I want to highlight this week are
at the check code and at Stevie Sally the Chetco is a cinematographer in Los
Angeles and I love the way that his greatest laid out and especially his
story so make sure you go check him out the second Instagram profile I’ve been
following for a long time it’s at Stevie Sally I actually found him when I
started my dump journey and wanted to really jump higher I love the kind of
post that he does but more important than his posts I love how he caters to
his audience it really speaks directly to every single viewer remember we’re
shouting out to Instagram profiles every single week all you have to do is
comment your handle below so we can look at it and then describe in one sentence
what exactly you used social media for when it comes to
in your business make sure you subscribe by clicking this black circle right here
for weekly videos about content marketing and social media if you want
to start growing and building your social media click this place right here
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videos make sure you come with them because we answer every single one

Small Business Tips : How to Figure Profit & Loss

Hello, I’m Mike Mitchell and today I’d like
to tell you how to figure a profit and loss in a business. Profit and loss is pretty easy.
It’s a basic economic concept in almost any business. And really it’s just a way to find
out how much money you’re earning and how much money you’re spending. Basically profit
is your plus, and loss is your minus. Okay. In most economic or financial software programs,
these profit and loss statements will be generated automatically after you enter all of your
income and expenses for each month. For your income, generally, this is all of the money;
using the US dollar sign just an example; that comes in at any given month. This is
from receivables, maybe interest or any other reason why you would have money coming in
from a company. For your expenses, this is everything that you spend the money on throughout
the month. Some of the big ones would be maybe rent or the salaries for your employees and
almost anything else that you can think of that a business would have expenses for; postage,
insurance and basically whatever you have to write a check for and the money that goes
out. Then, for your profit and loss statement at the end, all of positive amounts will be
positive numbers and the negative amounts will either have a minus or they sometimes
are denoted by having the number in parenthesis and at the very end you’ll have basically
your total at the bottom. And hopefully, if you’ve done your business well, this will
be a profit and it will show the number in a positive number. And at the end of each
month, you’ll have a profit and loss statement.

6 Lessons Learned from Starting a Business | Entrepreneur Tips

Hey everyone, welcome back to Lavendaire. Previously, I uploaded a video on
how I started my business. If you haven’t seen it yet, you can watch it
in the card up there. Basically, at the end of the video I asked if you guys wanted more business-related content and a lot of you wanted to hear my
lessons learned from business. So today I’m going to share six lessons that
I’ve learned from starting a business. This is just entrepreneurship lessons, but I feel like they could also be applied
to any other area of life. They’re very universal, I would say. The first lesson I learned from starting a business is: There will always be obstacles. There’s always going to be a challenge. There’s always opportunities for you to get stuck. But the lesson here is: There is always a way. There’s always a way, whether it’s through
the challenge or around it, or somehow, there is a way to figure it out. A lot of people let themselves get stuck
once they meet a challenge where they’re like, “I don’t know what to do.” That “I don’t know what to do” makes them not know what next steps to take, and then they just end up not taking any steps at all. Then it’s like their growth is stunted, because they’re stuck at that obstacle. And so what I’ve learned is: There is always, always a way through
your obstacles and challenges. You just have to have that mindset like,
“I’m going to find a way. I’m going to find a way through this,
no matter what it takes.” And the great Marie Forleo says,
“Everything is figureoutable.” That’s actually the name of her new book:
Everything is Figureoutable. That is such a good business mantra, because once you have that mindset that
everything is figureoutable, then your brain kind of opens up to more possibilities, and then you start to get more creative, trying to figure out your way around things. At the end of the day, any action is better than no action. So just do something, take any action. Try to figure something out. Try to learn something new or ask someone for help. Or just see if you can look at your problem from a new perspective or a new angle. There’s just always a way. There’s always a way, but you just have to
be committed to finding that way. The second lesson is the realization that nobody knows what they’re doing,
especially in the beginning. Everyone starts off with a lot of uncertainty, a lot of questions, a lot of unknowns. Basically, entrepreneurship is: You learn as you go, and that’s just the way it is. That’s the way of life, honestly. When you’re young and you’re looking
at people who are successful, you think that they knew it all, or they had it figured out in the beginning and they just knew what steps to take. But in reality, nobody knows what they’re doing. No one really knows all the steps that
they have to take to get to their goal. They only know maybe the first couple steps. So it really is – you know,
take a couple steps, figure it out, and then the next steps will reveal
themselves to you in time. It’s just a learning process, and you’re going
to make a lot of mistakes. But essentially, experience is your greatest teacher. There is no better way to learn than to just do the thing
and have that experience, and you’ll make mistakes or you’ll succeed. Whatever it is, that experience will teach you and you’ll use that knowledge to keep going
and keep pushing forward. So with time, you will gain more experience
and you will learn as you go. By the way, I want to thank Skillshare for
sponsoring today’s video, because Skillshare is such a great resource for those who are interested in entrepreneurship or just learning something new. So if you haven’t heard it: Skillshare is an
online learning community with thousands of classes covering
dozens of creative and entrepreneurial skills. Premium membership gives you unlimited access so you can join the classes and
communities that feel right for you. Whether you want to feel your curiosity,
creativity, or career Skillshare is the perfect place to keep you
learning and thriving. And if you’re interested in entrepreneurship, then a class I think you’d really like is
this one by Guy Kawasaki. It’s called “The Art of the Start:
Turning Ideas into High Growth Businesses”. This class helps you with a great foundation
for starting a business. He talks about starting a business for the right reasons, asking the right questions to hone in on your
product, service or business model, and also creating a business mantra and so much more. Skillshare is also really affordable, especially when compared to pricey in person
classes and workshops. An annual subscription is less than $10 a month. Because Skillshare is sponsoring today’s video, you guys can get a two month free trial by clicking that link in the description down below. All right, moving onto the next lesson that
I’ve learned in business is: Don’t compare yourself to others. This is honestly advice for business and for life
because it applies to everyone. Don’t compare yourself to others. I know that it is so easy to see what
other people are doing, especially on social media, see what other people or other businesses are doing,
and compare yourself to that. But the reality is: You are unique. You have a unique set of skills and
resources and strengths that is different from anyone else doing business. So you have to hone in and use your strengths, use your resources, use what you got,
and use your voice. You really have to hone in on who you are, what you do best, and do your best
not to be affected negatively by comparing yourself to other people or
other businesses, because people are going to do what they do, but you don’t have to feel like you’re in a competition. You don’t have to feel like you’re racing
against each other. You are in your own lane, in your own path. So, there is a flip side to this where it can be beneficial to see what other people in your industry are doing or people in other industries are doing so you can get inspiration and learn from them. Maybe you want to see other people’s mistakes
and learn from their lessons, or you may be just inspired or motivated
by what you see out there. That is totally okay. It’s totally great to look at other people
and then learn from them. Use it for positivity and good. The thing you should not do is to let comparison spiral you down into a negative loop, because essentially, if you compare yourself and you feel bad about yourself after comparison, it reveals your insecurity, because if you weren’t insecure about yourself
or your business, then seeing what other people are doing
wouldn’t affect you emotionally. It wouldn’t matter, and plus: it would even
motivate or inspire you. So if you notice yourself feeling negative about it, then just don’t compare yourself. Don’t look at it and try to just focus on what you got. Another way you can look at this is: You don’t want to compare your Chapter 1
to someone else’s Chapter 20, because you might be seeing someone who is much ahead in their business journey, and you feeling like you’re behind. You’re feeling like, “Oh my gosh, I have
so much work to do to catch up.” You don’t want to do that because if you think about it,
everyone started at zero. Everyone started somewhere. So you can’t compare your beginning to
someone else’s middle part of their journey, or even their successful part of their journey, because that’s just not a fair comparison. So don’t waste your time, focus on yourself, and hone in on your strengths and
everything that you have to offer. The next lesson I want to share about
starting a business is kind of twofold. The first part is: Don’t give up, keep going, keep things moving, keep taking action, because like I said earlier, you don’t want
an obstacle or challenge to thwart your progress and to make you stuck, because a lot of the times people just get stuck
and they give up, because they can’t figure a way through it. So just keep going no matter what. I am a firm believer that, if you just keep taking action and keep trying,
you will eventually succeed. But when I say keep trying, I don’t mean do
the same thing over and over again. I mean: Use your brain, take in feedback, and reflect on how you can improve things
and do it better next time. So it’s all about continuous learning and continuing to take action using all the knowledge and wisdom and experience that you’ve gained. As long as you just keep moving,
keep taking action, you will succeed, and you cannot be afraid of the failures
that happen in your journey. Your failures are just part of the process. They’re a way for you to learn lessons. Failures are just a learning opportunity. Don’t worry about them if they happen. Learn from them and keep going. The point is to keep going. You also have to have an awareness of
when something is not working and when it is the right time to either close that project, try something new, pivot, or start over in a new way. So “Keep going” doesn’t mean keep
trying the same thing that doesn’t work over and over again, because you know it’s all about learning. And if you something doesn’t work,
then keep trying it in a new way. Maybe your original business idea
didn’t actually pan out the way that you had hoped it would pan out,
but that’s okay. You can keep going, can start over,
you can try something new. For example: I used to run this program called
the Artist of Life Mastermind, and then later it became the Artist of Life Community. So for two or three years, I was running this
membership program that was going along with the workbook. And it came to a point where I just realized the format was not exactly working and the community was not what I had
envisioned in the beginning. And so I made the decision to close
that product down and to end it. But I still take those skills that I’ve learned and apply it to other areas like our
other Facebook groups, our online course, and also our newest
Lavendaire community on Vibely. You do have to sometimes accept that
things might not work out the way that you expect them to work out, and you might have to just close things off. But it doesn’t mean that it was a waste of
time, because everything that you gained
from that experience can be used and applied to your next venture or the next thing that you’re working on. Everything is used. Nothing is wasted. But bottom line I was trying to say is: Keep going, keep moving no matter what. The next lesson, which is lesson #5 is to
not take your failures personally. This one is easier said than done. It’s something that I had to learn over
the many, many years of my career, to not take my failures personally, because I think – I don’t know about you, but for me, I used to tie my self worth with my
success and my failure. You feel good about yourself and
you think that you’re great when you’re successful and you succeed
and you make the right choices. And then when you fail and you make mistakes, you feel like, “Oh my god, I am the worst. I’m nothing. I don’t know anything. I suck.” And it’s such a roller coaster of self confidence
and self worth, and it’s just not healthy. But what you should do in entrepreneurship, number one is: You have to accept that
failures are inevitable. They’re going to happen. You cannot avoid them, and if you’re trying to avoid failures, then you’re not going to be a very good entrepreneur, because it’s part of the process. But not only do you have to recognize that
failures are learning experiences, you also have to recognize that failures are just data. Failures are experience and data, and you have to learn to detach your
emotions from that data. It’s just information. And information doesn’t have to have
an emotional charge to it. It’s just pure information. It’s just the information that “this way doesn’t work”. So you have to learn to detach your sense of self worth from your success and your failures, because then you’ll just have much better
mental health, I promise you. It’s easier said than done, but it’s something that you have to practice doing. This is important not just for entrepreneurs,
but for everyone. Learn to detach yourself from your successes
and your failures. Take your failures as just information
to help you do better next time. Just ask yourself: What can I learn from this? What does this mean? Take your sense of self worth and your emotions
out of the equation, and just look at the information in front of you
as just information. The last lesson I want to share on starting a business
is just the reminder that no one will care about your business
as much as you do. And it might sound obvious,
but it’s something to remember, because when you start to hire employees and you start to build out your team, you might have this expectation for your team members to work really hard and care about the business as much as you do. But I’ve learned that it just naturally makes sense
that you care the most and everyone who is on your team will care either the same – if you’re lucky – or less. Definitely, most likely, they will care less
and they don’t have – They’re not you so you can’t expect them to be you. You can’t expect your team to have the
same sense of urgency that you do or have the same detailed level of care that you have, so you have to do your best. You are the leader, and then everything flows
from you under that, so you can’t be lazy. You really can’t just kick back and think,
“Oh, I have a team now. Other people are doing the work, so I can relax.” You really cannot, because you set the standard. You are the one that cares the most
about your business, so if you decided to be lazy and care less, then your team is going to be lazy and care
even less than you do as well. That’s just naturally how it works. Ultimately you have to remember that,
especially in a small business, you are the heart and the core of your business. You are the leader, you’re the one driving the ship. You are the one where everything flows out of, so you have to be on your A game and do your best. All right, that wraps it up for my
lessons learned in business. Let me know which one was your favorite,
comment down below. And in hindsight, these are honestly lessons
that can be applied to life in general. So they’re really for everyone, not just business. All right, thanks so much for watching today. And also make sure to check out the new
2020 Artist of Life Workbook. Link is down below. And I will see you next time. Love you! Bye!

Self-Employment Tax Filing

Today we’re gonna be talking about self-employment
tax filing. Being self-employed has a lot of appeal. You have the flexibility of your own calendar,
your scheduling, the freedom to do as you choose, and you’re the captain of your own destiny. However, for the self-employed business owner,
there are some additional tax you need to be aware of. It’s self-employment tax. It consists of two parts: Social Security Tax
and Medicare Tax. Together, it takes 15.3% of your
earnings. For a W-2 wage employee, the employer pays half and the employee pays
half. For the self-employed, it’s the full boat. The Social Security rate
is 12.4% of earnings up to the first $128,400 for 2018. Medicare is 2.9% of earnings
and there is no limit on your earnings where you’re paying your Medicare Tax. Estimated tax payments need to be made on a quarterly basis when you’re self-employed. They’re due April 15th, June 15th, September 15th. and finally January 15th. Please keep in mind there is a withholding
penalty if enough is not paid in. You have 90% of the current year’s
profits or 100% of last year’s taxes. Reporting of self-employment happens on Schedule
C of your 1040. When you complete your Schedule C you have your net profits in from there
your self-employment tax will be calculated on the self-employment tax form in your tax return. For more detailed information on this topic please see us at

The 3 Phases of Starting Up Your Small Business with Mark J Kohler | 2019

Welcome everybody to this week’s podcast broadcast You Tube live Facebook live I’m here with you, please don’t go anywhere for a minute Let me tell you what this this broadcast is all about the three phases or the first three steps of starting your business Now let me know it sounds sexy. You’re cool But you’ve got to hear this because even if you already own a business now Are you thinking of expanding into new product line and new service? These are gonna be the same three steps you use every time you launch a new business So now I want to get into all the technical stuff. Are you down at the bank? Are you setting up an LLC or a? Corpse under each one. I think you’re gonna love it. Now. I’m also going to give away two books today I’m gonna give away the tax and legal playbook and also my new eight steps to grow and start a business both free This is 99 bucks on Amazon 20 bucks. Whatever. I’m Sun got prime ghetto You can get these books and check them out on Amazon on my website Mark J Kohler com, but today is about you so, please don’t go anywhere and hear this out hear me out because again, I had talked to so many new clients every week around the country speaking of workshops about starting their new business and A lot of people think it’s here Is there what do I do? Where do I set it up and all that good stuff banking everything. We’re gonna hit it So let’s start with number one and I’m in here tight with you and then we’re gonna get to the whiteboard here in about two To three minutes and then if you have a question in a YouTube or Facebook just type it down below My team’s gonna throw those out as we get rolling now Step one step one is concept design and your product and service development again, even if you already own a business now Are we going into a new food product a new service? a new if I’m in landscaping am I gonna start fertilizing if I’m in a Food service. Am I gonna start serving a certain type of drink? What am I gonna do with a new product a new service and I’m gonna go online and selling then you do Multi-level marketing maybe we’re gonna go into real estate and do a rehab. It’s all the same practice now as you’re developing this concept the question I ask so many clients on the phone literally even Millionaires I ask what’s your what what is your what why are you doing this business? Are you really passionate about it? Cuz Nolan’s gonna be sitting behind you pushing a hot poker to get you up every morning Are you gonna lay awake every night thinking about how can I make money at this? am I gonna be passionate about what I’m doing because it takes Self-starting it takes motivation. It takes this inner drive that you’re gonna love doing this And so what I have clients call me up ago work I’m ready to sit on my LLC or do I set up an S corp or do I said I go what you up? Why are you doing this? Well, I want to make more money. Okay, will you really like what you’re doing here? Why are you passionate about it? So number one. I always want to talk about that now That was our intimate close up face-to-face. Now, I’m gonna take this back and we’re gonna hit the whiteboard. This is important We’re going to do it. So number one on this concept design is finding your what so what your what is your what and So I’m going to just put concept design concept design and Number one is what is your I’m just gonna put what we’re gonna save time here. I want to get rockin here So what is actually I’m gonna spell it out. What is your what? Number two, once you find out. Yeah, I’ve had clients are like mark, I love fly fishing I’m gonna do the five ship fly fishing. I’m gonna I love cars I’m gonna collect and restore and sell cars whatever whatever you love doing Let’s make money on it if it’s legal so number two number one number two in this whole process and it’s so so important and I want to Make sense of this before you even think of a business plan is I want you to think of who’s your competition? Who’s your competition? I’ve had so many clients that say mark. I’m gonna do this I’m like, did you realize ten other people have websites doing that? What’s what’s going on? You know, so I want to always say soon as you figure out what you’re gonna go into Find your competition someone I guarantee it is unless you’re a complete genius with a patentable idea Someone is already selling what you’re doing. Now. They may be doing a crappy job at it. They may have a crappy website I don’t know But find your competition so that you can improve on it find out what they’re charging and start doing some analysis and say man If they’re charging that or they really make them any money because I got to compete against that how am I going to differentiate myself? So find your competition, that’s where this is Just Faye’s I mean and again I have so many people call me up and we can do it today you want to talk about? LLC’s in escrow. Should I set up in Nevada? How do I pay myself? How do I pay my kids? How do I write off my car? I’ll talk about it. But first of all, I want to know what is your concept? What’s your what why are you doing this and what’s your competition? Then number three I want you to do a rough Business plan a rough business plan of just is this even gonna work? Do you know I have people that have come to me and said mark my business isn’t doing well And I say well two years ago when you started this did you do a business plan? They’re like no and we start to go through the numbers and just do some basic business plans and they’re like, oh my gosh I could have saved three years of my life Sometimes the best result of a business plan is to tell you it’s a bad idea That’s sometimes the best thing it’s not always what you know, I’m not gonna make millions. It’s like should I even do this? Don’t be doing a business plan to justify your venture do a business plan to poke holes in it and Figure out is it really worth it now on this note This is where my little eight steps workbook comes in free. Now if you share this video with anybody else Today whether you’re on YouTube or Facebook Rosalie gets a ping of all the people that share it she’s gonna do a drawing first thing in the morning I’ll sign this and Send it right out to you free of charge in the morning Now if you want to get this comes with a business plan a marketing Plan a strap plan in word so you can modify it But if you’re just looking for a facing business plan get over to They’ve got some wonderful resources, I think Let’s write it up right in here SB does a great job helping people design their basic business plan I think I do a better job, but they’re not too bad now Once you do your rough business plan if this idea is making sense then you’re gonna go with a legit business plan and I want you to just Seriously buckle down put together a 10 to 20 business plan page business plan and figure out how you’re gonna market this really tear apart Your competition do your financial analysis your budgets and the whole nine yards Because you’re gonna move forward but the rough one can be done in a weekend. It can be done in a weekend All right Now my friends that is step one now again If you’ve got a question on any basic business strategy or tax write-off type it down below I’m here for you, even though tax season is over. We got the whole year here people. Let’s get to work on this This is good stuff now step two and this is so so important I’d like to talk about with clients is The financials if you’re gonna start a business, we’ve got to start with the numbers And the first thing I want to ask you is nail down your startup cost What does my startup cost gonna be to get this off the ground? Now for some of you that might be selling on the web It could be really affordable and simple to just get your product up and going website design a shopping cart PayPal configuration You’re off to the races with the merchant account But other times it can take a lot of money to get that off the ground So I’m gonna put startup cost nail it down. What’s every expense? I’m gonna need to get this thing launched. That’s part one. That’s step one in the financials so I’m gonna call this phase 2 phase 2 and Then step one is nailing down your startup cost. What are they gonna be? Put it on a spreadsheet? How does someone look over it for you? Which we’re gonna come to later here. This is gonna be good Now number two I want you to think about your break-even Analysis, this is really important now on the break-even I wanted there’s three types of breakeven analyses and I’m gonna just do one of them, but I want to talk about a product and Then a lot of you it’s going to be obvious after this to either do a service or even a real estate project And so those are another two type of breakeven analysis I won’t get into those in depth today, and there’s some of you have a question But I want to talk about a product there was this place down the street? This is totally funny You guys are gonna love it down the street. It was an uchi row place. They’re gonna sell churros I’m like, all right, whatever churros that’s it. They had a they’ve sold some hot chocolate too. I’m like man You better be freaking parked outside of Disneyland to sell the hell out of churros to make it worth it But they and I thought it was kind of a dumb idea but whatever So I went this is a break-even analysis that you could do on a freaking napkin at Denny’s They’re cheero was 4 bucks four dollars for a chair. Oh, all right, that’s cool Now before you even get to the four dollar cheero price, you’ve got to say what are the fixed cost now? They were open five days a week six hours. They had two Employees there and the rent is tomato. This joint was around 750 a month It was a small little dive and I’m one of those Shack scenarios. I just being generous was saying 2,000 a month 2,000 a month and break even so it’s our backup 2,000 a month in fixed costs So when I start to do a breakout and even an ALICE the first thing I want to know is what are the fixed cost? Just to open the door before I sell one cheero. What are my fixed costs? I estimated 2,000 now they’re selling these for four bucks upon now is every cheero profit or is there a variable cost? so if you think of the cost of the dough and Oil to you know, deep-fry this thing they would put cream in it and then you have cinnamon and sugar and all that jazz, right? Most restaurants going to push a 50% cost of food a food cost Ratio, so if this cheerios costing me four bucks, my variable cost is going to be two bucks So my variable to just produce a churro is two dollars I’m selling it for four and my fixed costs are 2,000 So if we start to do the math How many churros do I need to sell to just cover fixed costs before I even take a one dollar profit? You take your fixed cost divided by your gross profit margin My gross profit margin was $2.00 per cheer up So if I have 2000 and fixed cost I divide it by $2 partiro profit That means I have to sell a thousand Shiro’s a month Just to break even that’s a thousand euros. You said I could sell a thousand churros man. I’ve seen, you know people eat churros It’s a pretty popular food. I think people would eat churros all the time if I open up a good cheer place All right burn up. I ran some numbers Let’s say you’re open five days a week with the average month throughout the year that’s going to be 24 days that you’re open Now if I take a thousand and divide it by 24 that’s 41 zeroes a day now if you’re only open six hours I’ve got to average 70 rows an hour to just break even so butt in and you got to keep that up from the minute you open up if you’re gonna open up at 3 o’clock and Go until 9:00 p.m. At night Those are probably our hot times maybe or start at lunch and then it’s like I don’t know But you gotta be average in 7qi rows an hour Just to break even Now do you think the people that open this place maybe thought through that did they do a test market? Did they just open a little this is where test marking and a business plan can pay out if you go out and find another Chiral place even in the ream go to the next city over the next state and go Oh I finally found another chiral place take a day get a diet coke and a bag of chips and sit out there and count how many people are going in and Walking out with a Giro do some analysis guys before you waste the next three years of your life freaking run the numbers Find out what is it going to take to make some profit in this small little business. Is it really gonna pay out? What I think and when you start looking at a chiral place in Denver compared to this little small town in Idaho and you a man, I don’t know if I’m gonna have the traffic this place does in Denver I better rethink You just saved time. Alright now before I get into my third one that I want to hit here Nishan what do we got? Okay, nice Sean great question he says he’s gonna do a fixin flip now he said he’s gonna pop it now we’re gonna come back to number three here and Frankly what nishan saying is and I’m gonna play with this nishan He’s gonna do a real estate Deal now before he starts getting all hopped up on her upper and chip is my hero – and you’re saying Joanne’s Adorable chip. You’re a stud. You’re always down there to in tune the tear out. I love you chip. Here’s the thing Nishan before you go out and buy this place Let’s run the numbers and let’s see where we’re gonna put this So if you’re out there, you’re gonna put left side right side You’re gonna put your w-2 over here some you may have a small business some you may have an S corp But you’re putting your operations over here. You’re never gonna put your rentals in an S corporation We’re gonna drop your rental into an LLC and then say you’re gonna have a partner on this deal now He said if I go out and do this deal What is where do I record the profit and how do I record it before? I put it on my tax return? well let’s say you go out and buy this property and I’m just gonna use some examples that my son and I would this morning I Was out doing some cement helping out over on his little fix and flip, so let’s just run some numbers there He bought this place for 80 grand. That’s the purchase price Now we’re expecting to put into this thing about 70 grand We’re gonna be into this thing 70 K and we’re gonna have a total investment of a hundred and fifty thousand that’s gonna be called Basis that’s called basis. I’m into this for 150 grand and then we’re gonna sell it for probably two. So we’re gonna sell this thing sells price for 200 grand That means we’re gonna have profit of 50. Now, you’re gonna take out realtor fees and some Clutts cost to sale I know some of your freaking outgoing markets not that simple. So let’s take out 10 grand for Costas sale We’re gonna be at 40 grand in profit Now if I um, once you do the math of how much money you borrowed versus how much you invested I’ve got a $40,000 profit now. Here’s the issue Nishan says where do I put this on my tax return? Because I started it in 2017 maybe 2018, but I’m not gonna sell it till 2019 Is this a business? Can I take write-offs for all these repairs and improvements? The answer is not until you sell. So this is going to go Nishan typically on a Schedule D we’re gonna drop this on a Schedule D and you’re gonna show a capital gain of This and it’s gonna be short term capital gain, by the way And you’re gonna put this on the books and you’re gonna put your your cost of investment – your sales Here’s my profit This is not a business unless you start flipping more than just one If you’re not in the business of flips, it’s gonna go on a Schedule D Now nishan if you’re doing two to three flips a year I’m gonna pop this in on a Schedule C as in Charlie If you’re on a Schedule C and Charlie now I can write off your cellphone your home office your auto because you’ve got a business of Flipping and rehabbing, but if you’re just got a day job as an engineer and you’re gonna flip a property on the side That’s capital gain investment Now you’re gonna get a write-off for all the expenses related to that property you invested in but not until the game you sell All right. Okay. Next question. What was that Rosalie? What do we got? Okay Okay jack and what’s in his name’s – Oh Jack Jack boy All right, Jack boy says he is gonna start a barbecue place man. I had some great barbecue last night I’ll tell you so Jack you’re speaking to me. All right, Jack says, how do you figure out not? The the break-even Jack says what are my startup costs gonna be now the difference between start-up fixed and variable There are three different things. So let me use the example of the chair Oh shop See, I’ve got dears the difference. I’ve got to go put in equipment tables chairs Decorations a sign I got to get this piece of equipment that if I feed this batter into it’s gonna spit out a cheer Oh, I might have a drink machine. I might have just the equipment. That’s a startup cost How many may even have the down payment for your rent maybe first and last month? So you go through Jack boy and you’re gonna say I’ll open up the barbecue place. Maybe it’s gonna be a truck Maybe it’s gonna be a van Maybe it’s gonna be a little shop down the street if there’s gonna be a band How much is it to cost the band to equip it with a deep fryer in an oven? And I’m gonna do pull a barbecue pit behind me and smoke my meat all night long whatever it is What does the equipment cost you? To open the chair Oh shop That is your startup cost Write it down and go I got to come up with that money and maybe you partner with sewing you go find someone say hey If you’ll put in that money, I’ll go fifty-fifty with you. I’ll work my butt off we’ll get this going and you get every dollar a profit until you’re paid back and then we split profit 50/50 or Maybe you come in and say hey I get a salary and this and that so you’re gonna have your startup cost Then you’re gonna say what are my monthly cost to run this place? Even before I sell one piece of meat am I gonna have rent the employees that is going to be your monthly fixed cost then your variable cost is how much does the meat cost to produce I got to go down to Albertsons and buy this meat or just to Some butcher then I got to smoke it. I got to put seasoning on it. I got to have paints and Napkins and paper plates and silverware. Those are gonna be my variable costs. So I love your question jack You’re gonna go through your startup cash to open your fixed costs every month to stay open And then what are your variable cost to sell your barbecue once you nail down these numbers guys? This will happen automatically you’ll just be sitting at your kitchen table crunching these numbers and you’re gonna go wow This is a great idea or you’re gonna go wow This is a freaking stupid idea. And that’s why you’re doing this people on the kitchen table pounding this out okay, we got Jeff those busy say He spent about 2 or 3 grand getting off the ground he hasn’t made any money yet. That’s right He hasn’t sold one thing yet. So what? Else is in and people you need to know this. He is in start-up mode He is in start-up mode where he is like Thinking of a lemonade stand you got to get all the things geared up before you sell that first cup of lemonade You’re gonna buy cops. You’re gonna buy ice You’re gonna build a sign and you’re gonna be out there trying to get people to stop and buy a cup of lemonade the minute You make your first sale you’re in business. So these are called startup costs on a tax return. And on your I Think they’re it’s fair to say that in my analysis of financials you’re gonna say that’s my startup cash to open up this online business the Minute, he makes his first sale Jethro’s now you’re in business and you’re gonna say okay if I make sales Here’s what the cost is to produce that here’s how much time it’s gonna take is it worth my time and you’re gonna start doing your Analysis with your monthly cost your variable cost and your time. Is it worth it? so you’re gonna do this analysis in here and before you open the door, so then Jethro says do I open an LLC? It depends on the type of business I think nine times out of ten If you’re gonna go to the point of investing three thousand dollars, you’re gonna make this work you’re invested in it start your LLC But Jettas, I might just call it JB Enterprise, make it a generic name. It may not be digital marketing next week It might be drywall the next beat week. It might be chocolate chip cookies I don’t know. What have a business name for your LLC That’s generic so that you can start testing your ideas small business owners Don’t fail small business owners are flexible. They’re gonna change their idea They’re gonna change the business plan because they’re gonna know I can start making money if I just tweak this a little I get sick Of those it’s like oh three out of five business owners fail in the first two years. No my business owners Just change the idea didn’t mean they fail means they’re flexible. They’re they’re agile. So Jeff those I would set up a generic name for your LLC Set up the LLC in the state where you live open a bank account Start working on corporate credit get your credit rating going Start looking at your funding maybe a partnership and get this thing rockin All right. What do we got James one more question that I’m getting back to my financial Okay, James says when should I incorporate no jet dos this is important this is right along this question So Jethro says mark, I’m getting started. I haven’t made any money yet I’ve invested three grand into my business open the LLC James open the LLC. I would not call that incorporating I would call that establishing your LLC When do we go to an S Corp and really change this into an S corporation? We do that when we’re netting around 30,000 a year, that’s when it makes sense. Now, let’s back up. I want to blow everybody’s mind here This is how we do this. You’re gonna love this. This is mark Kohler 101 if I’m gonna go out and buy rental property It’s an LLC There are my rentals but if you’re gonna go out and start an operational business, you’re gonna either start out as a sole proprietor Which right now? That’s what gesso it. Just just so this Jethro’s I apologize couldn’t say your name so you’re a sole proprietorship Starting to online market, then you could set up an LLC and graduate to an LLC But at some point some people just go straight to it You’re gonna do an S corporation now Let me tell you why if you make let’s say you bring in 75 grand in your small business You spend 25 grand on expenses and you net 50 grand You’re gonna pay self-employment tax right out the front gate that’s gonna be 0.15 3 that is going to be 75 Hundred bucks right out of the gate then you pay state and federal tax So a small business owner Jethro’s it is an LLC. You don’t want to stay here too long But if you’re only making 10 to 20 grand, I don’t have many options. But once you’re netting at least 40, maybe 30 grand We’re gonna pop over to an escort. Now. Here’s why I make the same 75. I spend the same 25 and I met 50 apples-to-apples Now check this out. There’s no self-employment tax There’s no corporate tax and there’s no Obamacare. Do you own plane? This is awesome So we’re gonna rock it three We avoid all three of these taxes, but what I have to take is a salary So I take a salary of 25 I take my pass through is 25 so you still made 50 grand I just split it. I split it between payroll and k1 Now I only pay FICA that self-employment tax the F word I only play it on the 25 so inst if paying 7,500. I’m only paying 30 to 50 I just saved three grand graduating to the escort So people in summary start out as an LLC Start out as a sole prog Get your business planned in start running your numbers start testing your product use a generic name for your enemy Get out there, see how it’s going Then as you start to make money, we can always back date it into an S corporation when the time is right We only charge on on twenty five bucks to convert it over to an S corp when you’re ready to roll Now this by the way, I’m gonna say this in my tax and legal playbook I have a whole chapter on sole proprietors I have a whole chapter on LLC’s a whole chapter on escort hiring your spouse hiring your kids What how do I write off my car? How do I write off my home office babies? This is your handbook It is called the playbook for a reason you need this So I’m gonna give it away to anybody that shares this and is in the drawing in the morning with Rosalie Okay. Now before we go on I want to get back to my financial plan. I’ve got my startup cost Look at this erybody startup cost. I’m gonna calculate my variable in this piece You have to do your sales predict projection. Hello. That was a mouthful sales projection You’re gonna look at what are my costs fixed variable and startup and what are my sales projection and guys? I’m not kidding you one of the best ways to find out what your sales projections going to be is analyze your competition Get out there play magnum p.i Starsky and Hutch, whatever you want to call it sit in the car sure competition and see any sales of making Are you gonna be able to improve on that? What do you get? How are you gonna differentiate yourself guys were only on step two. I got eight steps here I’m gonna hit these last this third one real quick And then we’re gonna go on to Q&A for the rest of the time here now on my third step What I want to hit here and I wrote down some numbers on this Is I want to do the most masterful piece that I’ve changed. My life is you want this is step three You want to start and maintain? You guys this is so awesome start and maintain a strategic plan I call it the strat plan. This is your strategic plan and it starts there’s three steps here I want you to do your 10-year vision What do you expect from your what do you what do you want to see funny? I won’t even talk about your family your health your marriage your plans to run a marathon Yeah, and you worry about that outside the box here. What I want to ask you is Where do you see your finances in ten years? What type of business do you own? What does your cash flow look like? What is your 10-year vision taking away the restraints of time? finances and really resources education weight What could you realistically do in ten years? write that down go to your favorite spot in the mount each the park down the street and Ride it down guys, when I wrote down my 10-year vision. It was about three to four years ago It took me two months to write down. What do I really see? then you’re gonna share it with their significant other and I shared it with my wife and I’m like Hey, look at my ten year vision. She’s like any of my ten your vision I was like wow You’re good, and we got let’s start another two months from debate and and we came together because we wanted to work together But your share your 10-year vision with the people that you love And you’re gonna tell him here’s what I want to do in ten years if they’re not on the same page with you There’s got to be a change. You got to figure that out. That’s called your 10-year vision Then you’re gonna work backwards if you want to have ten rentals in ten years You’re gonna say hmm if I want ten rentals in ten years I better have five of them in five years And if I want to have five rentals in five years I better have three in the next three years and I thought I’m gonna have ten rentals in ten years I better have one this year You’re gonna start working backwards to make a plan now step one is your 10-year vision? You’re gonna work back into your year plan it’s I want to know where do you want to be in ten years and we’re gonna work and reverse and say What do you got to do this year realistically to get where you want to be in ten? That is your strap plan. And I’m gonna break it down to a three six and twelve month task list See guys if you want to have a small business, you just don’t say I’m gonna have a small business You’re gonna have a plan. What do I need to do in the next three months? What do I need to do in the next week? What do I have to do tomorrow? If you don’t put pen to paper and lay out your plan You’re going nowhere. You’ve got to write this down and it’s just not something you throw into serie on a note This is something you carry with you This is your life. And then you’re gonna work backwards and come up with your plan for the year then finally This is step three and this is guys something I believe in and I myself Who are the three to five people you love in your life? That will give you us you’re gonna have your S Corp eventually and you’re gonna have your LLC’s and you might have multiple LLC’s you’re gonna have a board of Directors for your corporation and you’re gonna have a Board of Advisors for your LLC All right. This is three to five people and guess what? You’re gonna talk about in your first meeting Your ten-year plan. You’re gonna share it with them You’re gonna ask them for advice and you’re gonna share it because when you share it It comes alive and it becomes real and people hold you accountable Boom, there you go people sit That’s my first three steps or phases of having a small business Get started re-watch this video write it down. I’ve got all sorts of YouTube videos and books that can help you get there now I want to do Q&A. I’m here for you, Eddy. What do we got? Eddy I freaking love it You know what? I’m gonna have fun with this because we were talking about this last week with my Son who was here when we were talking about his last little real estate project he has worked out a plan where he can have an LLC where he’s like 20% and he’s got a partner and He put in a lot of the money for this real estate project. Oh But did he put in the money? No, it is not a person it is an IRA so you can take your IRA or 401k your Set your HSA and you can start a business with a retirement account Now what I like to do with this is you can do multiple things you can say Hey on my investment side. I can do rentals I can buy cryptocurrency I can buy gold silver. I can buy racehorses Super Bowl tickets and resell them next year you can form an LLC owned by your IRA your HSA your 401k any of these types of retirement plans and self-direct it I’ve got a whole chapter in my book on self-directing you just Youtube kohler self-direct boom start watching some of those videos and you see what you can do with your retirement account next question Issac No, this is great Eddie says mark, I already have this is good. This is good Isaac. He says mark, I’ve got my escort I’m like, all right. We’ll call this Eddie Inc So Eddie has his escort and that’s cool Escort and he goes but I don’t I haven’t figure out what my what is I haven’t figured out what my business plan is I don’t know what I’m gonna sell. Is that gonna hurt in his corporation. No, not at all Is he got the car a little bit before the horse sure but Eddie it’s done you’ve spent the money to set it up That’s cool. You got a bank account You’re gonna have to maintain this thing You have to file a tax return every year you have to pay a filing to the state to keep this S corporation active So keep your S corp active and then when you start to launch your small business boom throw it in your escort, bud I love it the carts before the horse, but let’s not throw out the baby with the bathwater Let’s not get rid of this thing. Keep it it’s great. It’s ready to go and If you’re not gonna start a business in the next year, maybe let’s get rid of it Chris. What do we got? No, chris says he liked to deposit his w2 into his business and then write-off business expenses Oh Chris if we could only wish it so no, you cannot take your day job and turn it into business income and get it Right off for your car Your w-2 is kind of like stuck. That’s Something you’re gonna have to claim and pay taxes on and you’ve told Eames to cover that. That’s what you’re implying Their w-2 but guys, I want you to have this whole other world. I want you to have this bipolar, whatever It’s a dr. Jekyll and mr. Hyde. I want you to have this other life. That’s your small business So many people say I want to say taxes III need something to make more money. I want to have retirement Well that may not happen with your day job So let’s take this other life this other side of you and let’s make money on it. What are you passionate about? What do you love to do? Let’s make money at it now. I can write off your cell phone now I can write off your auto and your travel My friends is your small business on the site this other side of you. Okay, Kathy Oh Kathy whoo, I love this because I love marking Kathy says what are some low-cost ways to get going on your business? All right Let’s have fun with this. I don’t know what Kathy’s business is So I’m gonna keep this very generic Kathy in today’s day and age the first thing you’ve got to start with You’ve got to have a website don’t you know, I mean, I’m gonna do that. I want to have a name What is this name that you’re gonna brand because as you start to go marketing You’ve got to have something you believe in. It could be again. You can have an LLC. That’s a generic name like Eddy Inc But then you can set up what’s called DBAs or URLs a different website so you can have multiple Businesses going into one S corp. I only have one S corp in my life Mark Kohler ink and I got multiple businesses going into it. So the first thing is is I find a catchy name I like to brand you got a brand this what are your colors gonna be? What is your logo going to be and Make sure that it pops because you want to be able to sell this bad boy number four I got you know what I was going there. You’ve got to have a website Even if it’s just a landing page because the first thing people do today. Hey, you got a small business What’s the name of it and they look on their phone? It should be redundant meaning that it’s just as cool-looking on your phone as it is on a laptop or a desktop So make sure that your websites up and going number five For marketing, I’m gonna deal with it. I’m going to throw out social media. You got to get it out there You’re gonna have to choose the core social media you like I do the big four, I do Instagram Facebook LinkedIn and Twitter Those are my big four. Some of you are gonna have more of a good time with maybe Snapchat or what some other ones? What am I missing ladies? I Re I’m doing Instagram. I’m there. I’m a teenager at heart. Okay, we’re good Get your social media going and then number six is you want to come up with a referral network? I think one of the best things you can do is find other people that are going to refer to you a referral network It was really funny. I had this client. What was he selling? Maybe it’s best I don’t remember But he figured out the best referral network was Hair Salons Ladies would sit in the chair get their hair done for four freakin hours and spend $200 or more makes no sense at all Anyway, these ladies would be sitting in the chair forever at the hair salon talking about their business You know life and their crappy husband and all these things right and so their head air salon And he said if I could get my hair salon ladies to recommend my business, it was my best referral source So he started to go to these hair salons and give away freebies and money and all this stuff You need to find out who is most likely to refer customers to your business start building some Referral network an affiliate program. Anyway there six. Those are fun. I’ve got here. Oh you would love this I’m just gonna say this in my marketing section here of my book. I have 72 Let’s see what it is 72 different marketing ideas from social media to standard media to events to technologies to print and signage to Networking and you can go through and say am I going to do this in the next three six or nine months? So I’d really recommend you get over there Kathy Miami one last question Should we do it or one to we’re do two more questions Randy. What do we got? Okay randy says She’s got one S corp. This is very similar to me trami. She’s got one escort. And this is Ramy here and She’s doing her payroll and she’s doing her k1. We’re writing off all these wonderful expenses She has a board of directors here to share her plans with right isn’t this sweet? She’s got a tax ID number She’s got a bank account and she’s doing her QuickBooks, right? This is what we’re this is what we dream about, right? This is what small business owners do She’s got three LLC’s. Let’s see. What does Ramy doing. Let’s say Ramy has a food truck and she’s doing sprinkler systems and What else is Randy doing let’s think And Remi is doing drywall. Okay. So Remi she is very Very industrious with their hands these might look like three guy things that you know out here, but who knows I’m just being done Okay, she’s got three different LLC’s owned by her S corp. Is there a problem with that? No, it’s great. She’s got asset protection Between each operation. So if one person’s putting up drywall and gets hurt, they can’t touch her food operation vice versa So you’ve got three different businesses all funneling into one escort. That’s a beauty it’s called a consolidated tax return This is gonna be an 11 20s tax return. She’s gonna do one payroll for herself Write-off expenses that relate to all three businesses. She might have partners over here. She might have different websites over here So these are three different businesses, but all funneling into one consolidated entity very efficient. That’s what I do Ramy I like where your head is any last questions. Okay, Rabi Okay, well Rabi she threw me a softball She said how example looks those good her business how many checkbooks should she have? Well, you always want to have a checkbook for every entity you set up So we’ve got you know it and you need to have a personal checkbook So let’s do personal checkbook is number one because I want you to pay for groceries Underwear your car payment your house payment. Your rent is got to come out of your personal checkbook You always always have a personal checkbook. Then you’re gonna have a checkbook for your main corporate entity. Number two Then you’re gonna have a checkbook for each entity three four five. So you’re gonna have checkbooks. No guys You may already be freaking out now hearing with me. Some of you may be saying mark. Why am I gonna have five freakin checkbooks? guys, do you have one big bucket in your bedroom and you put your underwear and your shirts and your pants and your shoes all In this big bucket and when you come home, it’s a nightmare That’s what you do when you have one checkbook for all your businesses in your personal life. You’re screwing up your organization So many people come to me go mark I can’t have five checkbooks usher’s two crazy guys That’s like having five Chester drawers in your hat in your bedroom You want to separate your socks and your underwear and your jeans and your shirts? That’s what helps you be efficient get dressed quicker in the morning and keep your clothes clean and organized That’s the same way with your books I want you to have five checkbooks in this example because I want to keep your personal separate from your main business I want to keep your drywall business separate from your food business now You can have a QuickBooks file for each one of these one desktop QuickBooks allows you to have five different bank accounts five different checkbooks Five different sets of books. Now. You may even have a checkbook for your spouse You might this would be number six you might have a checkbook for savings for just emergencies You might have a checkbook for taxes that you’re setting aside for your deposits. So that’s seven That’s eight. And then each one of my kids have a checkbook. That’s 9 10 11 12 Then any other little small businesses? Oh, you’ve got rental properties. There’s another checkbook Okay, so, you know, I I go on my Wells Fargo app I’ve got like 25 checkbooks, but it’s okay. Each checkbook is a different drawer in my closet for a different type of clothing Stay organized with your checkbooks. It’s not too big a deal. Now. We have a law firm. We have an accounting firm We help clients all over the country. This is not a sales pitch video. This is here to help you. I love Entrepreneur Magazine I love what my team is doing over there and it’s just Ryan Shay The CEO does such a great job getting excellent information out there continue to get to your Entrepreneur website the entrepreneur social media post read the articles They’re so so helpful. But if you need a lawyer if you need an accountant, we’re here we help clients all over the country and probably your best bet is just get to my website because you’re gonna go to any of the other websites for mine, so go to WWE Kohler dot-com There you can sign up for my newsletter. It’s free every week I’ve got videos and blog posts that are free every week to help you in your tax and legal area Please subscribe if you’re on youtube to subscribe get over there. Click the bell so every time I do a new video you’ll get a ping and please finally give it a like give it a share and Rosalie in the morning is going to Let you know who the winner of these books are and I’ll send them out and finally I have a business owners workshop in five different locations this fall Chicago, Philadelphia Orange County Seattle and Honolulu. I know I go to Honolulu. It’s a pain I don’t really want to go I do it for you so you can get a tax write-off go to Honolulu Now you my Hawaiian clients, you know, I’m just joking around because I love to get over there We’re gonna go surf the North Shore in November baby now We also have our self-directed IRA summit in Chicago and also in Hawaii. We’re doing Chicago in June and Honolulu and August tax write-off to come visit we talked about how to self-direct your IRA your 401k your set your simple your HSA your Coverdale and we bring it all together with a luau in Chicago and port ellos. Sorry, did I say luau in Chicago luau in Honolulu and port ellos in Chicago? There we go. So anyway, check those out. They’re all on my site. You can sign up anytime you want. I appreciate it I’ll be here next week for another Facebook live and youtube live and if you’ve got a topic you want me to cover? Mention it down below. Rosalie will take a note and let’s do it. I’m here for you. Thanks everybody

6 Things to Consider in Your First Year of Owning a Business

– Do you think an investor
will give me some money? – If you have a well thought
out business plan (laughs) – I will now thanks to this video. – Yeah. – It’s going brutal (laughs) Alright so you got your
business up and running, it’s the first year, now what? What do you do besides, celebrate, celebrate? – Well, after celebrating, you really want to, really
figure out what the foundations are of your business, but before you jump in,
you’re running your business, it gets tough. You have to remember to give
yourself some self-care. – Get your z’s. – Get your z’s, get your zen. You’re probably working,
I don’t know, 40, 50, 60, possibly more hours a week. And you can forget about
you, and you are important. If you get burnt out, then
that business suffers. So Em, what do you do
to get that self-care? Do you sleep for 20 hours a day? What is it? – Okay that’s excessive, but I’m all about the eight hours. Also, eating a well-balanced meal. I’m a big plant-based gal
for all you vegans out there. That keeps me refreshed,
feeling healthy, spry, also making sure to balance
my social life as well. ‘Cause I know, I work remote personally, so I’m at home, it’s easy to get the clocks strike 5:30
and you’re still working, ’cause it’s just like, you’re
in that work mode zone, so you gotta make sure to
really schedule out your days and ensure that you get
exercise in, a social life – Yes, absolutely. Social life is huge. Many of us, solopreneurs who
are just working by ourself or maybe with a small team, we get trapped in our
bubble and then we look up, it’s bedtime, and when we
wake up, and then we work on the business, and we
go to sleep, and it’s just a never-ending cycle. – Yeah, and then you get burned out, and then your business is
also going to experience that which brings me to, I know you
have a lot of info on this, the team that you cultivate as well, ’cause those are like people
you’re gonna be around, day in and day out, fulfilling
your goal and your mission. – Right. Like even if you’re a solopreneur, you still wanna surround
yourself with like-minded people. – That’s why I surround
myself with Nealey. – So many of us, again solopreneurs, we don’t have that team but
there are lots of places where you can find those
like-minded people like Em here. There are meetups you can go
to, they’re absolutely free and you can find people that like the same stuff that you do, or check out maybe a
local coworking space. There’s a ton of people just like you
– And free coffee. – Free coffee, usually
free beer with membership. I may know (laughs). – What’s next? What should I consider doing next in my first year of business? – Yeah so stick to the foundations. The foundations are never any fun, it’s not the fun side
of running a business, but they are so so so very important, and probably the first
thing that you should do, even just starting a business, is to register your
business with your state. Many people do this by filing as an LLC or a sole proprietorship. Probably the most common though is LLC. It helps protect your business
from your personal assets. – Question. Okay, LLC, I’ve seen this, and when my friends were doing their taxes and I would start to brainstorm, okay I see LLC, why are you
LLC versus Inc. versus Co.? How do you decide on that? Does it matter the type of
business you’re running, or the state you’re in, or? – It really depends on the
business that you’re running, and the team that you have behind it. So what I would recommend
is your state will have some information on how
to file your business, and give you some information
on what’s right for you. Should you be an LLC? Should you be a sole
proprietorship or a partnership, or a corporation? What does that look like? – Alright Nealey, so I’m having
flashbacks to my childhood when I wanted to be an entrepreneur, and I’d think about
having a business plan, and that’s when my parents would ask me, “Okay so you wanna own
an amusement park, cool, but what’s your business plan?” And so I’m thinking
about now, as an adult, and the entrepreneurs listening in in their first year of business. Real talk. Business plan, is that something you need to be doing right now, and
how do you go about that? How do you organize that? How much information do you need to know, or can you wing it? – Definitely don’t wing it. There’s a lot of business owners, especially just starting out,
solopreneurs, they’re like “Cool I’m just gonna
start my business and go.” But the business plan
keeps them locked in, helps them really find that
foundation that they’re gonna need to stand on when they start to really grow their business. Now business plans are pretty lengthy and it does take a ton of time to create. There are plenty of sites out there that’ll help you generate those, but we’re gonna go over some
of the different sections of a business plan, hopefully it’ll help you out a little bit. Alright Em, so the first
section of a business plan is the Executive Summary. Now you can really think
of this as the cliff notes for the entire document. It’s gonna give a little bit
about what that business is, the market it serves, and some information so if anyone were to read
this, like potential investors for your business, they know
what they’re gonna get into. – Okay so number two, don’t worry, I got this one Nealey, you wanna have a Business Description. What is your concept? So let’s go back to my amusement park. – Okay, let’s do it. – I think it should be a pizza park, because
– A pizza park? – What else would you wanna
eat and possibly throw up after a roller coaster ride? Pizza of course. – Those tilt-a-whirls are – It’s going brutal, (laughs) but that’s my, that is my concept. – Alright so number three
in your business plan is the Industry Analysis. Now going back to your pizza park, it’s really just an
overview of your industry. Who are the major
competitors in your industry? How do you rank up in that list? And just the market
itself in that industry. Alright Em, so with your competition, can you give us a little insight of who your competitors might be, and how you would stack up against them? – Yeah, so no big surprise
in the amusement park world, a few that are my
competitors would be like a Six Flags or, Disneyland or, what’s one of your favorites? – I think as a kid I used
to go to Busch Gardens a lot in Florida. They had the Sheikra ride,
that 90 degree straight angle, scared the, everything out
of my mom, it was fantastic. – He threw up pizza. So back to my amusement park. What makes me unique is that
it is this pizza-themed park. So not just the best slices of pizza from all different kind of themes, like we have the New York style, the deep dish Chicago style. – What’s your favorite? What style? – This is a little embarrassing, because it’s really boring, but I just like a good cheese pizza, like I am Kevin off of Home Alone, it’s just, I prefer dairy-free. – Chicago style or New York style? – In between the two. – Okay, you heard it here first. – And then also what’s
unique about the park is that everything is pizza-themed,
even the rides. So there’s a bunch of, really bizarre-looking
rides because they’re shaped out of like pepperonis, and
dripping cheese for the slide, but it really sets me
apart from everyone else, and fun fact, all the prizes that you can win too, are also pizza-themed.
– Pizza-themed. Heck yes. I’m here for it. – Cool. Come on down. Get you a deal on your summer. – Come on down to pizza park. (laughs) – Okay so another thing that comes up, here I’m just one person, I’m gonna have an amusement
park to draw in a lot of people, I need a good team, how do you go about organizing that? Who’s gonna do what? What’s the organization
of this pizza park? – Right. And that’s number four. That’s the organization
in your business plan. Who’s gonna run it? Is it just you? Are you going to have a team? Are you gonna have a board of directors, and investors, and all this good stuff? And that’s where you map that all out, so you really have that
plan when you go to start your amusement park, ’cause
I know you’re awesome, you can do a lot, but you can’t be running
from ride to ride to ride stopping and starting it, plus running the business,
– That’s a lot of work. – Plus eating the pizza, I get it. You need people. – Yeah I worked at an
amusement park, fun fact, when I was 16, and it was just enough doing one ride, and you just pull a lever
and then you stop it, but kids are, – It’s riveting.
– they are a mind of their own. Mind of their own. – Alright so number five is
your Financial Projections. Now I’m not saying you’re gonna go with, “I’m gonna make a million dollars,” and that’s it. – What are you talking about? – My projection. Now this is
– That was my plan. – This is what your budget is, how much you’re gonna be spending, what you’re projected to make. Not every business is profitable in their first year of business, that’s more like two,
three, and five years. You really want to have that plan, that projection of what you think with the industry and the competitors and the market and your customers and how much you’re selling tickets for, all in that little projection there. So, do you have projections
on your business? Are you gonna be making a
million dollars that first year? What are we doin’? – Well, maybe we should sit down over some pizza and talk about this, but I just kinda feel really confident about my business model. I’m just thinking put it together, however much money it
costs to put this on, what have you, that’s fine. The customers are just
gonna come rolling in. – If you build it they will come? – Yes, field of dreams right? – Yeah. – Yes I got it, movie trivia point, Emma. So yeah I just hadn’t really thought about the exact numbers. – We’ll go over that. – Okay thanks. Thanks. Alright so with everything
we’ve talked about, now we are at number
six which is, investor, you have a great idea, you have a well thought out plan, now you gotta go and get an investor, get that money. Right? – Absolutely. That’s the whole point.
– Show me the money! – Show me the money, give me the money! But you want to, you’re building this business
plan to get investors, that’s one of the main key points of this, that investors don’t wanna just hand out their money anywhere. Have you seen Shark Tank? They’re not just saying yes to everyone. They have a plan.
– They’re very picky. – Very very picky, and that’s why you have your business plan, it’s well thought out, well written, and that last part, that investor request, or that finance request is really to say, here is exactly what I’m asking for, and then let the negotiation continue. – So with my idea being pizza park, and what we’ve discussed, the themes, the uniqueness, the vibe, the fun, do you think an investor
will give me some money? – If you have a well
thought out business plan. (laughs) – I will now, thanks to this video. – Yeah! – So let’s say good news,
the investor likes my idea, and I did in fact get the
money to pursue my idea. Next thing I’m thinking of is, keeping track of how
much I’m spending, where, how do I look for a return on investment? How do I keep that all organized, because I’m gonna be dishing money out in all sorts of places. What are your recommendations though from your experience, Nealey, with keeping track of ROI? – Yeah especially in your first year you have to keep track
of literally everything. And now what a lot of people
do is they go Gung-ho and crazy and start spending their
money on a bunch of things ’cause they think they
need everything right now. But what I would recommend is go lean, and really focus on your ROI, or your return on investment. Make sure the money
that you’re dishing out to your amusement park, you’re dishing out with your business is actually getting customers back. ‘Cause at the end of the day, if you run out of money, and there’s no more investors, there’s no more business. So focus on that, and you can do that with
some bookkeeping software, like QuickBooks is the
main competitor out there. There’s GoDaddy Bookkeeping, there’s many many other ones as well that’ll help keep track of your income, your expenses, and even
help you with tax time, or tax season rather. – I love that. Help you stay organized. Definitely check out
the resources you have, will make your life a lot easier, and, – So much easier.
– Your bank account happy. – Yeah we gotta keep
the bank account happy. How else are you gonna
buy all of this pizza? – Otherwise you’ll just be, at home sitting on the
couch eating cheap pizza, and that’s depressing. So I imagine with
everything we’ve discussed, and I know this comes up
a lot with social media when I’m educating on best practices, trial and error. Expect it. It’s going to be definitely something that you need to embrace, trial and error. Also just keeping in check
with how your team is doing and make sure they’re
on board with the goals and the success and your struggles, so open communication is key too. But expect to have some trial and error, would you agree? – Absolutely. One of my favorite little
quotes or whatever is, “Failure is feedback.” Failure is not the end of the road, it’s something that you learn to kind of grow and just becomes the
better you or better business. So fail early, fail often,
but always keep learning. – I love that. And if you love this, be sure to like this video. Also, subscribe to the channel, and – Ring that bell. – And comment below on
what you learned to do for your first year of business. – This is The Journey. We’ll see you next time.

5 Small Business Marketing Strategy Tips in 2019

Small businesses, whether you’re at zero revenue
and just starting, or you’ve hit that seven figure, million dollar mark, your marketing
tactics to grow in scale are going to be slightly different than bigger companies. In this video, we’re gonna give you the 2019
guide on how to squeeze every dollar out of your marketing spend. (singing) If we look at businesses, at least in America
there’s 26 million small businesses, and whether the stats say that 50% stop after two years,
or five years, or whatever those stats are, if you look at the main problem, the main
reasons why businesses fail is typically because of sales. The reason for that is because if you’re an
owner/operator, you can’t run the business, and do all the sales, and do the work, and
hire the team, and do all that stuff. And then once you bring people in, you’re
still going to have to run the business, make sure that the customers are happy, whether
it’s a product, or a service that you’re offering, and still do revenue, and sales, and marketing,
and all that stuff. So there’s just too much to handle. That’s why a lot of companies that have two
partners, one person is the operations guy, the other person is the sales and marketing
person. So, if you look at the reason why companies
fail being sales, you have to try and develop a strategy of how you’re going to scale and
how you’re going to be consistent early on. So that way you don’t reach a point where
you hit that plateau, and then you’re kind of scrambling to try and develop this strategy
and walk through these different steps that we’re going to go through while you’re trying
to run the business. ‘Cause what’s going to end up happening is
you’re going to reach a point where you don’t have enough revenue, and you’re not growing
fast enough, you’re too busy focusing on the client side, and then you’re going to have
to take a step back and focus on the sales side, which then the clients won’t get the
service. So it’s just a hot mess. So it’s a different strategy when you’re looking
at a larger business, a larger corporation that has a bigger budget versus you small
businesses. You have to be extremely nimble and frugal
with your spend. You have to know exactly what steps you wanna
go through. You want to know what’s important, what’s
not. You’re hearing all this stuff out there about,
“You should try this. You should try that.” We’re going to walk through the five tips
to make sure that you don’t get to that point where you’re one year, two year, three years
down the road, and then your business has to close ’cause you don’t have revenue. So we want to build a foundation strong on
those pillars, and then that way you can continue to scale it, and it’s just a machine that
you keep having fed so that way you don’t have to worry about it as much. So starting with the first thing is going
to be your website. Your website is, whether it’s a e-commerce
website and you’re doing a product and you’re doing direct to consumer, or whether it’s
a service-based business that you offer business to consumer, business to business. Your website is the foundation and the forefront
of your company. This is what people are going to do and the
experience that they get once they go to your website is going to then determine whether
or not they want to learn more and potentially reach out to you and fill out a call to action,
or pick up the phone and call you. You have to invest the time and the money
into the website to get it right first. The main two aspects that you need to focus
on being a small business is, number one, nobody knows about you, so you have to focus
on SEO. This is not something if you’re willing to
do the work yourself, you can do tons of research and figure out, and read, and watch videos,
and listen to stuff about SEO to become somewhat of an expert, just for your own small business. Or if that doesn’t interest you, you need
to bring somebody in from the outside that knows this, because from the beginning, once
you have that URL, that domain, you have a trust score of zero. Whereas, you look at large media companies
and large publications, and people like Forbes, stuff like that, they have a higher domain
authority. Which means that when something gets posted
to it, Google recognizes it and respects it faster. You start at zero. You have nothing. Even if you’re three years old, you’re very
low on the domain authority. You have to make sure that your SEO is tight
to begin with, so bringing in somebody to set that up, and bringing in somebody to preferably
build a website is gonna be a smart move. It’s gonna be money that you only really have
to invest once, once you get it set up, and then a couple years later you might wanna
update it if styles or trends change, or if you change your services, or your products. That’s perfectly normal in the small business
world. But investing the money, don’t get sticker
shock when somebody says, especially an agency says, it’s going to be three, four, five,
seven, $10,000 for your site. Don’t be shocked by that. I would say that you would be less likely
to find a very good freelancer that can do everything, you may be able to find somebody
that can do a site for you for $1500, or two grand, but is it gonna be with all the customization,
bells and whistles, how much experience do they have working with bigger companies, and
taking those tactics down, and using them on a smaller business? And how much experience do they have on SEO? Because usually most web development freelancers,
when you ask ’em, “What do you know about SEO?” They’re gonna say, “I know the basics of what
should happen.” You want somebody that can do both of those,
so most likely, your first website, I know you don’t wanna spend the money. You maybe throw something up yourself for
right now, but you need to get an agency to do it. So with that website, once you get that up
and running, and it’s been optimized, and it looks good, the other aspect of it … ’cause
I said there was two, one being SEO … the other side of it’s gonna be user experience. How does somebody flow through it? Are you capturing their information? Is it easy for them to go from one point to
another? If you’re in e-commerce, is it easy for them
to add your products to the cart? What’s the checkout process? How painful is it? If you’re a service-based business that deals
with consumers, how quick, how easy is it for them to book an appointment with you,
to come in to whatever it is that you do? Your retail shop, to get directions, to come
into your dentist shop, or your … whatever it is that you’re servicing, how easy is it
for them to book an appointment? That’s gonna be number one most important. You need to have hot links, and those availability
all over the place, because you do not want somebody to be fumbling around through their
phone, or scrolling through on their desktop, trying to figure out, well how do I even see
these guys? The other aspect of it’s gonna be that most
likely, and I know that you probably heard this statistic before, that most search traffic
is through mobile these days, it’s more than 50%. In your space, if you’re doing services to
consumers, or if you’re doing products to consumers, it is most likely more than 50%. Some of the B2B stuff, it is not, so don’t
always believe that. At our agency, the clients that we serve,
whether they’re small or large, if it’s B2B, it’s usually still about 70%, 60 to 70% of
their traffic comes through desktop. So you don’t have to worry as much about the
mobile experience. It still should be good, but you don’t have
to necessarily dump tons of cash into it to optimize it. Just keep things clean and simple. But if you’re on the consumer services side,
if you have a business where people are gonna be coming into the door, and you’re gonna
be servicing them, or if you have products, then yes, it is probably 60, 70, 80% of your
traffic is on mobile. Think about that when you’re developing it,
hopefully the agency’s done research, and they understand that, that you’re using. So that way they can develop it with a mobile
first, mobile friendly in mind from the beginning. Put less content, don’t worry as much about
desktop, less clutter space, and keep everything smooth and easy, so it’s gonna be developed
mobile first. So if the SEO is done right, then that’s kind
of the second point. So the second aspect that a lot of people
are gonna fail at, or is gonna hinder you, is the on-page SEO, what’s on your site and
how it’s done is the utmost importance to start getting Google to rank you, but then
continuing to follow up with that when you create content, and any updates continuing
to track and measure your SEO, and see how it’s performing. Otherwise, you’re just gonna be saying, I’m
on page five of Google, I’m on page 10 of Google, and I’m not moving up. A lot of times people are gonna forget to
go back and look at that. You need somebody that’s paying attention
to that. We use systems here to automate part of that
tracking, and then we look through the data to track and monitor on a daily and weekly
basis, to make sure that you’re moving into the right direction. But somebody has to be monitoring that. You may not think SEO’s as important, or people
aren’t gonna Google search for me, or my product, service, whatever is different, there’s no
competition. I had clients say that to me this week, potential
customers that I had say, “What I do, and what I offer, there is no competition.” Well there is, because the competition is
gonna be whatever the market is used to doing. If you’ve got something new and exciting and
fancy, that’s great, but if people aren’t Google searching that, then your competition
is what they are searching for, which is the older technology. Older methodology, or way of doing what it
is that you’re doing. So think that you may not have any direct
competitors that are doing exactly what you’re doing, but you do have competitors that are
thinking of the old schooler mindset, or older school mindset, that are searching for the
older way of doing it. So that is your competition. So setting up your SEO to go after that is
gonna be way more beneficial to you to draw that traffic in, and bring them into your
awareness, and into your pipeline, than it is just to say, “I don’t have competition,
if you search this phrase, then I show up first, and that’s it.” That’s fine, but if nobody’s searching that
phrase, then yes, you will show up first very quickly. The next area you’re gonna wanna get into
is the social side. So whether you’re B2C, B2B, there is gonna
be a different play here, whether it’s LinkedIn, Facebook, or Instagram kind of as the pillars. Forget about Twitter. In all of my videos, whenever we talk about
social, I always say forget about Twitter ’cause it’s just not gonna be effective. So if you’re B2B services, facility services,
or any sort of B2B services, you wanna focus a ton of your time on LinkedIn, and less on
Instagram or Facebook, unless you have content that is applicable to there. Most likely, the first thing you have to do
is look at, where is the time spent for my target demographic? Are they more likely on LinkedIn, Facebook,
or Instagram? And Facebook and Instagram you can kind of
play together, into the same world, but if you have products, or videos, or things like
that imagery, you’re gonna wanna push harder on Instagram than you would on Facebook. So once you figure out, where is their attention,
now it gets time to actually doing the work. At the end of the day, all these points have
the same thing in mind, either you have time to do it yourself, or you have money to pay
somebody else to do it. So it’s time, or money. If you don’t have the time to do it yourself,
then get ready to spend some money to have somebody do it for you, but don’t nitpick
over the fact that you’re paying somebody to do it, and that you could do it better. If you’re going down that path, which a lot
of small business owners will do, is they’re gonna say, “I could do it better,” then do
it. Don’t bitch about it, just do it and see if
you could do it better than whoever you’re using. But if you don’t have the money to spend,
you’re doing it yourself, think of it like this: you need to do multiple posts a week
on social. This doesn’t have to be anything crazy fancy
to start off with, but if you are an established business, you need to have custom branded
graphics, which is an image with words on it, and things are blurred out, and there’s
colors, and there’s a logo. And you’re trying to get that brand awareness
out there. That needs to be done on a weekly basis, and
you need to be posting multiple times a week to get that brand awareness and consistency
out there, because you’re not going to be drawing new people in if you don’t have, already
you have content up there. Posting once a week isn’t going to work. Posting cheesy videos, or cheesy memes, or
images of a movie with text on it, that is not gonna be as effective. It may seem cute and funny, most likely you’re
gonna get that not much engagement. If you’re starting off and you don’t have
many followers, and you have to hustle to get followers, on LinkedIn you use your personal
LinkedIn to push your company page to get followers for the B2B guys out there. For B2C, you’re gonna want to run a light
Facebook ad campaign. If you have 3000 friends on Facebook, you
can certainly invite them to like the page, but if they’re not people that you’re gonna
sell to, it’s not really gonna do you any good. So you need to budget for some money spending
on some Facebook brand awareness campaigns to get new traffic and new eyes and new attention
onto your Facebook company page. So that way, you can get people liking it,
and you have some sort of feed. Same thing on Instagram, you start with zero
followers, push out to your friends, ask for family, when people come into the office if
you’re servicing them from a B2C standpoint, ask them to follow you on Instagram, follow
you on social, do some giveaway to get them to do that, so that way you now have their
attention in their feed when you wanna execute on content later. But at the end of the day you have to focus
on social, this is the only way that you can quickly get out to a lot of people at once
with little cost, because you can do all the work yourself, and you can do it organically. You don’t necessarily have to pay money to
have somebody do that, or pay money for advertising if you’re willing to put in the work, or if
you have the skillset to do it. If you don’t have the skillset, it’s not worth
the time. If you think that you suck at writing things,
and you think that you suck at doing creative graphics, and you don’t know how to do that
as well, then don’t do it, ’cause it’s just gonna delay the inevitable, which is that
you’re gonna have to pay somebody to do it. The next tip number four is gonna be, you
have to make content. Content, content, content. You have to make a ton of it. Written word with articles, blog posts on
your website, long form posts on social, whether it’s Instagram or Facebook. Writing 1200 characters or whatever the limit
is, writing 400 words in there, filling it up, using hashtags appropriately. You have to put in the work and push that
content out there, after you create it. So it’s whether it’s an article that can be
use as a blog post, or it’s a video, you have to create content. The most effective ways going to be doing
it, is gonna be video. And we were just talking with somebody the
other day, and I said, basically, the space that you’re in is open for the taking to where
you can, if you produce a lot of content, make enough noise and be known as the expert
in this person’s space, because nobody else is doing it. Same thing with a lot of these B2C service
industries, and markets, there’s not people that are noisy enough. They’re just posting static image content
out there, whereas video is gonna get more engagement, and it’s gonna get more attention
on the social platforms. From a video standpoint, you don’t have to
get fancy, you don’t have to have somebody that does it for you. You can literally just keep it simple and
get a tripod for your phone, shoot it on your phone. Make sure that the camera is steady, and make
sure it’s in landscape mode. For some platforms, vertical mode, portrait
mode for other platforms. Just, it’s all about the content and the relevancy. Don’t worry about it being lengthy, you can
get there. Start with something that’s a minute long,
30 seconds long, two minutes long, and just work your way up. It’s gonna be weird at first, being on camera,
but once you get over that, and you realize that that is really what you look like, and
that is really what you sound like, and those weird things you do with your hands and your
face, is part of you, and stop critiquing yourself, focus on the quantity of content
you can make, not the quality. It does not have to be perfect, because you
want to push out as much as possible. If you’re a new business, you’re starting
from zero. Even if you’re established business, and you
have no brand awareness on these platforms, you’re essentially starting from zero. You have to make a lot of content. Once you make that content, the fifth point
is gonna be the distribution of the content. So, once you make it, you need to share this
out there. The cheapest way for you to do it is gonna
be posting it organically on social, that’s gonna cost you time. If you can bring in an agency, even an agency
like ours that can do this for you, we post it out on social, it needs to go on your website,
you need to be doing some sort of email marketing capture so that you can push it out through
email marketing. But you have to have some distribution plan
in place. If you don’t, then you’re gonna write a piece
of content, shoot a piece of content, distribute it and then stop. And then three days later maybe you do something
else, or you say, “Oh, it didn’t work,’ or, “I put it out there and nobody really responded
or engaged.” You’re not gonna get these home run hits off
the bat. You’re gonna be focusing on chipping away
and continuing producing content, and you’re gonna get shit for views, and you’re not gonna
get a lot of engagement in the beginning. But as you become more and more consistent,
and keep pushing that out there, then you will start to see some of the engagement come
back. It’s a game of patience. You don’t wanna make decisions today that
are just looking at effecting next week. You want to think about the long-term, months
down the road, years down the road, and start building up this brand, and building up this
consistency and this muscle memory, because that is what’s gonna get you there. If you’re always making decisions on tomorrow,
then you’re not gonna be able to see the trees for the forest, and you’re only gonna be focused
on what you have to do right now, which is like, firefighting mode. So planning out this strategy to say, “All
right, I’m gonna make content. I’m gonna do video because I’m comfortable
on video,” or if you’re not comfortable on video, and you hate it, then go with articles. They still work, they’re still effective,
people still read. But just make a ton of ’em. At a minimum level, a couple a week, when
you’re just getting started. At a maximum, I mean, do ’em every day if
you can. If you have the time, or if you’re paying
somebody to do it for you, do it every single day, at least five days a week. That’s the way you’re gonna get that noise
out there, but then distributing it, you have to distribute it. Social/organic, or through email marketing,
but putting it on your site. That way when traffic goes to your site, they
can see that you’re making content. When it shows up in their organic feed, they
can see you’re making content. Once you get past that point and you wanna
get into advertising, the most effective spend’s gonna most likely be Facebook or Instagram
ad spend, because it’s a cheap cost per click, cost per impression. LinkedIn, we do a ton of it for some of our
bigger clients, it’s very expensive. So for small businesses, that may not be the
path to go down if you’re less than let’s say, seven figures, or less than a half a
million in revenue, LinkedIn’s expensive. So, when you create this content, now you
have something that you can then advertise with. If you don’t have the content, then you have
nothing to advertise, you have no post to do, it’s just gonna be an image or words,
if you’re shooting video that’s gonna be much more effective for the advertising aspect,
but that’s down the road. We don’t wanna focus on advertising now, but
at least you’re creating content that you can use in the future, or you can send to
your agency, and say, “Hey, chop up this video content, and create me a 60 second loop video
that looks better, and put some subtitles on it,” and then run an ad to your target
demographic on Facebook or Instagram. That’s gonna be effective, but you gotta shoot
the content first. And if you don’t have the money to do all
that, you gotta do it all yourself. So, those are the five tips of where you can
get started from. We’ll dive deeper into it, into specific niches,
and specific size of businesses, because you’re gonna want different tactics for different
things. Whether it’s a proprietary service that you’re
doing, whether it’s social focus, or website and email, there’s a lot of different ways
to skin this cat, but this is just to get you started looking at, all right, in 2019,
what do I need to change? Or if you just started your business, what
path should I go down? Hopefully these five tips brought you some
sort of value, so if it did, hit that like button. If you guys have questions, or want me to
dive deeper into a subject, leave it in the comments below, and we will see you on the
next one. You didn’t do the … okay. I look for that now. Okay, cool.

Access Ventures | The Growth Loan

You always hear like bootstrapping, or even
there’s kind of like an Americana thing of like pulling yourself up by your bootstraps. I like don’t really believe in that. I think it’s like, it was near impossible,
you know, to work full time and to start a business without any money. And that’s basically what we did, we started
a business with no money. I mean money, I mean I think that’s something
that’s always a challenge. I started with about ten thousand dollars
that I had from some money that my grandmother left me after she passed away. I wound up taking my 2001 Expedition and nine-hundred
dollars and buying a grill, and starting out on the corners that way. In order to grow the business, especially
starting with no capital, every time we would accumulate money there was always a large
item we needed to purchase. So once it was in, it was out. I didn’t really understand how important it
was to have working capital upfront. I think banks see companies like mine as being
a lot of work for a little return. I think that they don’t really get what we’re doing. You know, I think we all ask ourselves what
our purpose in life is. I wanted to do something I felt I enjoyed
doing, I loved doing, and cooking is just one thing I do love doing. Before I was trying to get loans through the
bank to get this business really going, but I didn’t have enough behind me to be able
to do that. Prior to the Growth Loan, I was probably at
my last step because I didn’t know of any other way to go about getting the money I
needed to move it. I was sort of like, if it doesn’t go through,
I’m going to sell this truck and just get out of this thing. But once I got the approval, it just opened
up a whole lot of new doors for me. Well the Growth Loan process was terrific
because it started out with a fee. It started out with a $150 fee I think it
was and I got a dedicated loan specialist who I felt was going to improve my business
regardless. Put me in a better position to understand
where I was in my businesses life cycle for raising capital, regardless of whether I got
the Growth Loan. I did have to get really clear, you know,
what is mission, what is my mission, what am I going to do with this money, how is it
going to impact the community? You know that’s kind of what we needed all
along, it was always, I think it was like the gap you know? He allowed us to close the gap of like, okay
I see how this could make money, but how are you going to make money? The money that we raised with Access Ventures
was a stepping stone. The Growth Loan was used to purchase the vehicle
behind me and also to get the work done and a lot of the equipment to go on the inside
of it. We bought equipment to help us manufacture
the product that grew our revenue so that we could get to the next phase. Being able to hire a management staff so that
I could focus more on networking and new sales and marketing, and really just getting out
of the building and back into the community to remind people about Farm to Fork and participate
in more things. We just started growing exponentially. The space that we are in right now is what
we applied for the Growth Loan for, so it will go towards signage, tables, chairs, lighting
and our bar build out. I got everything I needed and was able to
move the business well on down the road. Now we are moving out to different parts of
Kentucky and also Indiana to spread the love. So I can say yeah, it’s been a big help. I’ve had so many set backs along the way,
this business has evolved in ways that I had no idea it would. One of the testaments to any entrepreneur
is just finding that grit to keep moving despite all odds. I’m encouraged, I’m encouraged to keep moving,
I’m encouraged to believe that the vision for building this business into what I know
it can do is not pie in the sky, and the dreams that I have of where it can go aren’t irrational. You know, even if just one person believed
in me, it was enough to kind of get me to that next stage. We want to be like the hometown heroes, we
want to do what we do really really well, better than anyone, you know that’s what we
are striving for.