2 Bottlenecks Preventing You From Hitting 7 Figures
Hey Bo here.
I wanna share what I believe
are the two biggest bottlenecks
that US entrepreneurs face.
And if your business is not where you want
it to be, if you're struggling in any way
in your business, if you don't have the
business of your dreams, it's probably
related to one of these two things.
First, we have to realize that
we are in a trust recession.
People don't trust as easily as
they used to because everybody's
trying to sell them something.
You know, everybody is out
there saying that their product
or service is what you need.
It's the solution to your problems.
And it's just, it's just hard to trust
people when you know that they're just
trying to sell you something, right?
And so I think people are really
looking for more authentic creators.
People are buying from people
who they actually like.
Know, like, and trust people that they've
been following maybe for many months.
And that's something you have to realize
is like people need to be nurtured
over many months, maybe even years
before they actually buy from you.
And I think most people are just
too focused on the short term.
They're trying to convert their
audience into sales as fast as possible.
Yeah, and they're not doing the,
the hard work that that's required
to nurture an audience over
time and to just deliver value.
I don't even like the word nurture,
actually, because it sounds like
you're just like warming them up so
that eventually they'll buy from you.
But really it's just like being
helpful, being helpful over a long
period of time to the point where
people are gonna trust you enough to
actually buy something from you, maybe
a higher ticket product or service.
And I realized this a while ago
because I was on this guy's email
list I remember for years, and I saw
this guy, he launched his product
every year, like I think he just did
one launch a year for this product.
And I watched him launch this
product like over four or five years.
And I never bought, but in like the
fifth year that I saw him launch it,
I bought, and if he would've just been
focused on short term marketing tactics
and just trying to extract the most
amount from his audience as possible
in the shortest amount of time, like.
Do you think he would've made that sale?
Probably not.
You know, like if he wasn't consistent and
if he didn't show up year after year, he
wouldn't have made that sale, you know?
So that just showed me like, oh, some
people are gonna take a long time to buy,
and so you just have to stay in the game.
That's the whole point of the
game, is just to stay in the game.
Right.
And people are just thinking
too short term, I think.
And people are just thinking about the
money, thinking about how they can extract
the most amount of money from their
audience in the shortest time possible.
And that's just, that's
not gonna help you win.
You know, like if you really
wanna win, you have to show
your personality a little bit.
You have to put yourself out there.
You have to make content.
You have to show your face,
let your voice be heard.
You gotta write emails to
your email list on a regular
basis, consistently over time.
You gotta do all these things without
the thought of like instant gratification
without the thought of like, how much
money is this gonna make me when I send
this email to my email list, how much
money is this podcast gonna make me
when I record it or this YouTube video?
It's like, that's how
a lot of people think.
And I know that because I
used to think that way too.
And I used to be a little bit
too obsessed about that, like
the results of everything I did.
And I thought about things in a very like.
Direct response sort of way.
Like, if I do this, what's
the immediate outcome?
Or like how much profit
is this gonna generate?
And I thought of everything in kind of
that analytical numbers sort of way.
But what I've found is that,
one, it's stressful if you're
always thinking like that.
And then two, it doesn't
really work like that.
The game isn't a linear game like that.
Like that's how people think is like, oh,
if I do this, then I'll get this result.
And it's just so much more
complex than people realize.
Like the whole internet marketing
game, it's like people might have to.
They like, they might watch your
YouTube video and then they see your
ad and then they sign up to your
email list finally, and there's,
there's like so many touch points.
And then they read your emails for a
few months and then they click on a
link in one of your emails finally, and
then that takes 'em to an application.
And then they apply to work with you.
And then maybe they don't buy the first
time they apply to work with you, but
then they keep reading your emails
over more months and then they watch
some more YouTube videos from you.
And there's like all these touch
points that happened before.
Maybe someday they finally.
Choose to work with you.
They choose to buy.
You know, that's how it actually works.
It's not like a step one, step two,
step three, like, oh, someone sees
my ad, then they buy my product,
then they buy my other product.
And it's not like a funnel like
that, a traditional funnel.
That's how people think
of online marketing.
But it doesn't really work
like that in the real world.
That's a simplified, very
basic way of thinking about it.
But in reality.
Your business is this ecosystem and this
ecosystem of all these different moving
pieces is really designed to build trust
over time, to add value over time and
to pos position yourself as an expert in
your industry over a long period of time.
And eventually all of all of those things
compound and create trust at scale.
And that's when you can have
massive, massive amounts of success.
Like look at Hormoz.
Hormoze had a hundred
million dollars launch.
Why?
Because he has been showing
up consistently for years,
delivering value, building trust.
Like for years he didn't
even sell anything, you know?
So he was just building that trust.
People trusted him as an authority.
He was showing his expertise,
and when the time came for
him to finally sell something.
People bought, you know, and he made a
lot of money because he had that trust.
So I think that's what you, what you have
to realize is like it's a game of trust.
There are ways to accelerate
trust building, like for example,
by making more long form content
as a way to build trust faster.
So if you're not making long form content,
long form podcasts or YouTube videos,
that's something you need to be doing.
Like I think that's
really, really important.
Is to have some type of long form
content and to also show your face,
like let people see you on camera,
you know, and get a feel for who you
really are, or at the very least.
Let your voice be heard through like a
podcast like I'm doing right now because
the voice transmits so much information.
And also when people see your face,
trans transmits so much information to
people so people can actually read you.
They actually get a feel for who you
are and if they, and they start to sense
whether they can trust you or not, right?
So trust is so important
when it comes to sales.
If you're not making the amount of sales
that you want in your business, it's
probably because people don't trust you.
Because people just don't know you.
You know, it's not anything personal,
it's just because you probably haven't
been showing up consistently enough
for people to even have a chance to get
to know you and trust you, you know?
So you gotta give people a chance.
You gotta put yourself out there.
That is key.
The other thing, the second
thing, that's the big bottleneck
for most creators is traffic.
Most people, I find greatly underestimate
the amount of traffic that they
have to generate in their business.
Most people are posting on social media.
Maybe they're posting some Instagram
videos or whatever, some carousel
posts, or doing some YouTube videos,
and they get a little bit of traffic.
They get a few clicks a day maybe to
their landing page, and maybe they get
a couple email subscribers a day signing
up to their email list, and that's
all cool, and you can grow that over
time and that can increase, of course.
But that's not enough traffic.
You know, if you really want your
business to like go to multiple six
or seven figures in the next year
or two, you need to be generating
way more traffic than that.
You cannot be satisfied with like
getting a couple clicks a day to
your page, to your sales page, or
to your opt-in page or whatever.
You have to find ways to generate.
Massive amounts of traffic.
That's the fastest way to grow your
business, is just generate more traffic.
If you double your traffic,
you'll double your business.
If you 10 x your traffic,
you'll 10 x your business.
Even if nothing else changes, even if all
your marketing and stuff stays the same.
If you're able to generate
10 times more leads, you're
gonna make 10 times more money.
You know, it's just a basic
math equation, you know?
And then if you.
Improve your marketing and your
backend products and stuff and
say you double that, then you're
gonna double your business.
Like if you can 10 x your traffic for
example, then you 10 x your business.
But then if you double your marketing
efforts on the backend and, and
have a better product or increase
your customer lifetime value and
stuff and you double that, well
then you just 20 x your business.
That's two times 10, you know?
So just by making a little few
changes in your business, you can
20 x the amount of money you're
making in a short amount of time.
And it's not as hard as people think.
The way to 10 x your traffic
is not to just keep hustling
and doing 10 times more.
Uh, that's what Hormoz would probably
tell you is like, just do 10 times more.
Just post 10 times a day
instead of once a day.
That's not my philosophy.
That's not what I'm, I
got into this game for.
I didn't be, I didn't get into
this game to be an influencer
and to be social media famous.
I got into this business so I could
help people and also create a good level
of freedom for myself and my life and
my fam and for my family, you know.
And so if you don't wanna post 10 times
a day on social media and play that
whole game, then you have to be smarter.
You have to work smarter, not harder.
So you have to find ways
that you can get leverage.
How can you do the same amount of
work but get 10 times the results?
And I'm biased.
Maybe because this worked for me.
This has always worked for me.
But paid ads, I believe
are the way to do that.
That is the way that you can take one
piece of content that you created and you
can amplify that to millions of people.
So instead of posting on Instagram
every day trying to get views, you
could just post once, just get one
video, just make one good video.
Instead of having to make 30
videos like one a day, you could
just make one video a month.
And then put some ad spend behind that
video, and you would get probably more
views on that video than you got from
ins from posting on Instagram every day.
You know?
So you're doing one 30th of the
work, you're doing way less work,
but you're getting the same, if not
greater rewards from that, you know?
So that is how you can work smarter,
not harder, is by thinking about
ways that you can use your money
for growth instead of your time.
Because your time is always
gonna be a limited resource.
There's always gonna be a
limit on how much you can grow.
If you're thinking in, in that way,
you know, like, how can I just do
more of what I'm already doing?
Probably you're already burned out and
so you don't want to be doing more.
Now, there's other ways to get leverage.
Like you could hire people
to do stuff for you.
Maybe instead of editing your own videos,
you hire somebody to edit them for you,
and that's a way to get a little bit
of leverage, so then you can post more,
more videos with less effort, you know?
So paid ads aren't the only way,
but that's just my preferred way
because that has been the biggest
game changer for me is running ads.
I started running ads in in 2020,
and it completely changed my life.
I went from struggling to pay my
rent to making multiple six figures
in profit in less than a year.
It completely changed everything for
me, and so I'm biased maybe, but that's
what I recommend to most people is
like, figure out the paid ads game.
Not saying that you shouldn't
do organic marketing.
You should do both.
But get both of them working because you
never want to be single source dependent.
That's a big mistake creators
make is they, they only have
one source for their leads.
And if that's organic marketing,
then that's, that's the
only way you can get leads.
Right?
But if you have paid ads working
and organic marketing working.
Now you're not single source dependent.
Now you have leads coming from
two different flows, two different
sources, and then also the organic
marketing helps reduce your cost
per acquisition for the ads.
So it makes your ads cheaper, basically.
And then people from your ads are gonna
see your organic content, and then they're
gonna buy maybe from your organic content.
So your ads work better, your
organic content works better.
People follow you on Instagram or
whatever because they saw your ad.
So like having both of those
running, I call it hybrid marketing.
A combination of organic and paid.
Having both of those running, that's
gonna be the thing that really
puts Rocket fuel on your business
and takes you to the next level.
So, long story short, those
are the two things you need.
You need to a way to generate a lot of
traffic in your business and get more
people to click on your links, more
people to see what you have to offer.
And then you need people's trust.
You need both of those things because
just because someone like clicks
on your link and they go sign up to
your lead magnet or whatever, doesn't
mean that they're gonna buy from you.
Most likely they're never gonna buy
from you, probably because you don't
have a good follow-up process in place.
You don't have consistent emails
that are going out to those
people after they sign up.
You're not making long form
content that builds trust with
people over a long period of time.
You have to have all of these pieces
in place if you want to have a truly
successful, prosperous business.
So I hope that helps.
I'll talk to you in the next one piece.
