Aleksander Vitkin Podcast

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Hey, it’s Aleksander. So I’ve been asked this question a lot, also lately ’cause it’s summer and people just spend a lot of money in all kinds of stuff. So entrepreneurs, what do they actually spend their money on and what is the recommended method to do this?

What is the recommended method to re-invest your money and just manage your money in general as an entrepreneur? There’re several schools of thought here, there’s the one where people, including myself, would basically say, don’t do any kind of cleaning, cooking or any menial work at all at home no matter what. So that’s priority number one; don’t waste your time, don’t spend time on things that can be outsourced easily. and I do you agree with this to a large extent.

However, there is a few little details that are often not mentioned. So, for example, should you outsource cleaning? Mostly, yes, absolutely. It’s like 100 bucks a week, maybe 100 bucks a month depending on the country you live in, sometimes even less to have your entire apartment that you live in or house cleaned to no brainer, in most situations. Cleaning, don’t waste you time on that. You just spend a few $100 or $100 and you’re done, you don’t have to run around, broom, etc. Don’t waste your time on that.

Whereas for food, there is a few things here, right? So there is people who actually love cooking, and I have entrepreneur friends, they love to sit down or stand and get some cooking done. It’s just relaxing, it’s just their thing and they don’t wanna outsource it. For me, I love outsourcing cooking because it’s a huge time sink. Going to the shop and buying the groceries and then having them cooked and doing all that work is such a huge time sink. For me, at least even though I like cooking, I don’t like cleaning up afterwards and so on. And it also, because

you don’t cook yourself and you don’t do any of the grocery shopping, you don’t need to do any of that. So basically, you save maybe 10 hours a week, so that’s a huge thing.

However, should you go to a restaurant every time you eat? Well, it sounds like you’ll save time ’cause you don’t have to cook but in reality, if you go to restaurants, actually, there is waiting for the bill, finding the restaurant, waiting for a table and so on. Actually, it turns out that if you go more than once or twice a week, you’re actually spending more time than if you were cooking yourself during those times.

So, I just do that as a social thing, once or twice a week, going out for food. I don’t constantly go out for food. What about deliveries? I’ve seen guys spend anywhere between $400 and $2,500 on food delivery. So I’m not really into the whole 2.5K on food delivery thing where entrepreneurs, they try to save so much time and energy that they spend $2,000 plus or euros on food. I’m not really into that.

But if you can spend maybe double of what it would take to go shop and then cook the food and then have the food delivered and you don’t have to clean ’cause there’s just boxes, why not? Well, there’s one little thing though, it has to be health food and a lot of protein and vegetables which is quit hard to get with standard food delivery.

So there are special services that allow you to spend five to 900 euros or dollars per month, and they do the macros, they do vegetables, they do protein, everything is on point. So if you do it like that, then it’s actually worth it and it saves time so that’s actually a good thing. Whereas if you just go and do random food like hamburgers and sushi in restaurants, just random pilling it on, you actually gain weight really quickly. I made a mistake for a month and then I kinda gained two pounds or one kilogram by accident.

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Hi, it’s Aleks, so I just had a student and he had a situation where he made a client $23,500, which is pretty good amount of money to make your client if you’re only charging, you know, one or two thousand dollars for a service.

So he was like, “How do I get more money out of this? This seems like a lot of money and I made the client so much money. Man, I want a better deal with the client. I deserve to get paid more. I crushed it and I wish I had like profit shares and whatever, that would have been amazing. Is it too late? Can I still get the profit share? Can I go and get more money because the client unexpectedly made a lot of ROI for what I’m offering, right?”

So he basically deserved, like he should get paid more for his service seeing as the client made more than expected. I’m just gonna share how to deal with this on multiple levels, ’cause you could just say, oh okay, call the client and here’s what they say on the phone, right? But that doesn’t really solve anything.

It’s not just about how do I get this client to pay me more money? That’s really secondary to the whole thing. Off the bat, the first thing I’m gonna tell you is you’re not gonna convince the client to pay you more retroactively. That’s not gonna happen. If you sold something for a $1000, $2000, $3000 and the client’s happier and gets better results than expected, you can’t go back and say, “You know the thing I sold you,” even if it’s a service, “pay me more for that”, retroactively.

So let’s talk about the first thing, maximizing profit. As I said, you can go and retroactively increase profit from a previous sale, but you can renegotiate a deal where you say, this project is running really well, better than expected, and then you need to introduce how you’re gonna do more and deliver more results, more of this, more like this, you will get more, right?

So you’ve got him more, so how do you get even more than that?And then because you’redelivering a a better service,you’re giving them more,then you can negotiate things like profit shares or higher retainer fees.And the best time to do that is when the client is getting great results.The worst time to do that is when the client is dissatisfied or something like that.In terms of profit shares,let’s say you do want to do a profit share,you may wanna get a solid contract and have good access to the clients CRM or card so you can see how many sales actually come from any type of deal.Otherwise how do you actually do a profit share or revenue share?It doesn’t make any sense.

So the second thing is, client satisfaction. In terms of client satisfaction, you need the make sure that the client is getting great results at all times. Of course, your client should be getting results like this. Of course, the client should be getting 1000% ROI, of course. Like that should be the thing that you do with clients and then you record testimonials with them, in terms of referrals, you record testimonials with them, just when they’re at their happiest moment and you leverage those testimonials, those video testimonials, text testimonials and so on, preferably video, to get better clients like that, that get similar results.

So if you go, you know, if you go to my website, I don’t like to use myself as an example too much, but you can go to my website, it’s completely jam packed with client results. There’s like hour long interviews, hour and a half interviews, 30 minute interviews, just hundreds of them. Why?

Because it works, because people want to see proof. They don’t care about your business or what you do. They care about what can they get, right? They want to see proof. Record testimonials, showcase your best clients, showcase the best results to get more clients.

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Aleksander: Hi, this is Aleksander and I’m here with Luca and Luca he’s actually not a member of the Business Mentor insiders. He applied to join and he came to our live event

this year where we had 40 people and he talked to me, talked to some other guys and he was able to expand his online marketing agency. We’re gonna talk about that. We’re gonna talk about the results he got and what made the change for him. So, we’re also gonna be|talking briefly about how Luca decided to get into the agency business in the first place ’cause I|think that’s quite interesting how he started. Actually, welcome Luca. Nice having you here. So, how did you end up starting your agency career, let’s say?

Luca: Hi Aleks, thanks for inviting me for this interview. Yes I have like a kind|of particular story, because I’m an engineer, but I decided that this was in my way. So, two years ago I started in the affiliate marketing industry because everybody was saying that that’s the easiest way to start your own business. You don’t need to have product.

You don’t need to have anything, and I started doing this business model with Facebook Ads. to be honest after two years in spending hundreds of thousands of euros in advertising, I found myself with almost nothing in my pocket. I made like five figures open.

Almost seven figures investing in the Facebook Ads. But this gave me the possibility to like have good a training about the Facebook Ads than what I’m specifically focused on. And back in January, a friend of mine who actually knew my situation he told me “listen with you expertise level, “it’s not smart to keep going on with this business model” because he actually knew that I had some major issues with affiliate network didn’t pay me. Companies didn’t go very well and I also was putting my money on the table and risk them, so it’s much smarter if you focus on… If you switch to the agency model and use your case studies to actually show clients that you know what you’re talking about and start managing the ads for them.

So back in January this year, I started with this business model and then at the beginning of March, I moved to Barcelona and to be honest I had already started towards sending out proposals and I also managed to close like one client,

At the beginning I was struggling a little bit. Then it’s where you come in, because I was invited to the event in Barcelona to Mario and Emmanuel and the other guy. I don’t remember the name who hosted. Mohammed, yeah him. And was great because there was a lot of value in this event and I actually remember asking you “This is my situation, what would you do?” and you gave like a couple of tips. And is started implementing these tips and these actually helped me to accelerate the process of sending out my proposals and thinking more about numbers, so how many response I get with this kind of the written proposals or with other kind of funnel and things like that. Of course then it was a trial and error process because you like you never think, after like one month or month and a half I was able to close two clients.

And today after let’s say three full months I switched to the agency model. I’m close with this 5K month in revenue.

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Aleksander: James just closed a $40,000 sale and he just had his first $5,000 month and he’s been a member of the Business Mentor Insiders for three months at the time he got his first $5,000 month, so that’s why you gotta be here ’cause it’s good news to share.

We’re gonna learn some lessons from how he did it and perhaps you could replicate said lessons or the same results, rather. So let’s just listen to James. James, what’s been some good news in your business lately?

James: It’s good news that I have a business at all. Obviously it was a big step taking the step to set it up. But I’m happy with how it’s going. I’m making consistent sales, high-ticket sales.

Aleksander: But you started three months before May, so now we’re in June, you started three months before May. Did you have any business experience before that?

James: No, I just worked a normal nine-to-five. Done the standard process for guys in my country, with my background, which is you go to school,you go to university, you get a corporate job and that’s your life then. That’s it, that’s finished. (laughs)

So all I’d done is worked in marketing agencies and financial accountancy firms. Things like that, so just standard nine-to-five stuff. Never run my own business before. Never had any experience in running my own company or winning work for myself, so it was all brand-new really. So no experience, no.

Aleksander: And what was your life like while you had the jobs, while you were doing the grind, basically. What was your life like?

James: It was fine. I’m from the UK, it’s never gonna be that bad a situation,but I just wanted more. It was just, as you say, it was the grind. It was the same bus, it was the same people in the office.The same water cooler. Everything was just the same and it was getting really formulaic and quite cyclical.

So, I wanted to take control of my own schedule, really. Go out on my own, do things for myself and have a lot more freedom. So, that’s definitely what I’ve seen from joining the process and moving away from that nine-to-five job.

Aleksander: What did you learn that allowed you to move away from a nine-to-five job? What is the first thing you learned? What was the second thing you learned?

James: The first thing I learned was that there was another option and I think, look, I’m 25 now, I’ve been in full-time work pretty much from 18 and it was drilled into me from such an early age that the nine-to-five corporate job is the only way to make money and the only way to have that stability. And it’s not true.

So, the first thing I learned was that there was another option and there was the chance to go and start my own business, my own company.

And then from that, obviously, you learn the skills that come from it. You learn sales, you learn how to project manage, how to, as I said, win work, deliver work. and the whole package, really. You learn as you go along, but first thing I learned was that, look, it’s not all about the nine-to-five. There is another way. There’s a way to take control of your schedule and to take control of your bank account as well.

Aleksander: What happens in the first three months? What were you doing in your first three months?

James: When you join it’s all about learning the process and getting to grips with what you need to do and then you are thrown straight into it. So, you’re thrown in to lead generation. And the good thing is about the program and the process is that there’s always a network of people to lean on.

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Interestested in getting to $10k/mo on Upwork? Here are the things I wished I knew on how to freelance on Upwork and get to $10k/mo when I started as a freelancer and business owner.

Aleksander is going to share his own experience from his 6 years of being a freelancer and hundreds of interviews that he has done with entrepreneurs who have got to $10K/mo on Upwork.

Moreover, he is going to share exactly what happens, how he is going to prepare for it and what to do once you get there.

This video is not for people who are looking for get rich quick schemes. It is for people who are freelancers or business owners who want to get to this level as soon as possible and avoid the mistakes that others have made before.

1 – You are not going to be able to handle all of it alone any longer. Once you reach $10K/mo, you cannot do everything by yourself anymore. You are going to outsource from the easiest tasks moving upwards to the most complicated tasks.

Many people get stuck because they are not willing to hire new people and as a result they cannot their business anymore. They are trying to handle everything by themselves and they are treating their business as a freelancer.

2 – Your business relationship with clients. In the beginning you were there for every single part of the project that you deliver. Having other people who can take the workload off from you will help not feel overwhelmed with work.

You need to replace yourself by processes that are usually run by other people. Your clients will feel that you are no longer there as much unless you setup the processes very well. In that case, they will feel like that are being treated better than before. That is why many big business make more money than small businesses. You need to start thinking as a business owner.

3 – Your behavior. You go from being focused on everything to being ultra focused on working on your business instead of just being an employee in your business that fills in all the roles. This focus creates an amazing upwards spiral of success.

You are able to create new funnels, you are able to work on new delivery, keep clients happy, because you are managing them properly. You are able to create processes, so that your business has a solid foundation to grow from instead of being stuck with endless bottlenecks for delivery.

4 – You go from being interviewed for jobs and gigs on Upwork and go through all these recruitment processes to have people come to you. They follow your process, they pay you on your terms. They book calls with you if you want to talk to them.

5 – Others will judge you because you are outsourcing. You are not doing it the way they are doing it and because you are doing it differently, they will say that you are cheating the system and exploiting people. This is entirely not true if you set things properly.

If you are paying the freelancer what they can make in their country, if you make a good profit and if you make your clients happy, then everything is happy and your business grows.

As a result, your employees have a good steady income because of you and your clients, then everything goes better. Don’t worry about haters, because it does not matter they say or think. Judge yourself based on your results and the results of your clients.

6 – Your life improves because of the spillover effect. You become more successful as a person, you have more influence in life. You are more powerful and you do not have a boss. You are able to learn brand new super valuable skills that very few people get the opportunity to learn.

7 – Impostor syndrome. You may start to think that you do not deserve that much money, that you have to try another business model and so on.

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Aleksander: Hi, this is Aleksander and I’m here with Daniel. Daniel is a member of the business better insiders. And why do I have you here, Daniel? What’s the good news that we’ve had lately?

Daniel: Yeah, I just had a big sale for $12K for a web app. And I’m just roughly six months on the group. So that’s pretty awesome for me coming from a very, very low wage background. And, yeah, I’m very grateful for being part of the group.

Aleksander: So you’ve had several good months behind you in terms of business, and now you kinda capped it off with a $12,000 sale. Is that correct?

Daniel: Yeah, yeah. Ever since March. After two months in the group I start having, I had my first sale. It was actually a good sale too. It was a $10K sale for two web apps. Not as good as this one, though. Then after that I had two more around the same value. And now, I have this big sale. So, it’s been like very, very good three or four months.

Aleksander: And what were you doing before that in life?

Daniel: I was very scattered. I’m actually an engineer. I worked as a software developer five years ago. Then I got bored and I went traveling the world for two or three years. I did customer services. I sell tickets for both parties. I just didn’t know exactly what I wanted

But then. I started doing freelancing, as well. Doing, like, work press sides and social media. But I felt it was not what I really wanted. I wanted to be more engaged. So I got to be a bit more technical. You know, I got into bootcamp, programming bootcamps. I can do like more advanced applications so I can earn more. And then I wanna work, I went to work with a company actually one of the best companies here in my country for web applications. But then again, nine-to-five,

Aleksander: In case people don’t know, you’re from Portugal.

Daniel: Yeah I’m from Portugal in the north, in the second city Porto. And, yeah, initially I was in this big company but then again it was a nine-to-five job and I got bored easily, and I wanna have my own thing. So after one year working on this company I got better skills as a developer, but I really wanted to start my own thing. So I joined BMI around January this year. And since then I haven’t been looking back.

Aleksander: How have your months been so far financially? I mean you closed one sale that’s $12,000, but what else have you been doing?

Daniel: In the first two months I was just learning and trying to implement because I was also working. I just left my job one month ago. But I was juggling both things. It was not the easiest thing. So in the first two months I didn’t have results. I was just learning and studying. And then, I had my first result after two months. And then, it was a big deal because it was two applications and I had to do a lot of delivery for that and I also had my job so it wasn’t easy.

After I delivered those two applications I just said okay, I’m going to focus on business only. So I left my job. And after I left my job I had already three more sales. And this one being the biggest of them. $12K for a web app. That’s just awesome for me.

Aleksander: So you quit your job when exactly did you say? Now two months ago, right?

Daniel: Yeah one month and a half ago.

Aleksander: I think you weren’t the only one. You have some friends as well who have had the same thing happen recently. I forgot the name. I think maybe Tiago, was it?

Daniel: Yeah, Tiago. Tiago. Also he was working and then he left his job. And he’s now focusing on business 100%

Aleksander: You guys from Portugal are crushing it. Get more members from Portugal, this is really good.

Daniel: Yeah, we are very close, so it’s like a little mastermind we have here.

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Damiano is going to share with you how he closed $75k/Month in contracts this year. He has made an impressive amount of progress for the last 6 months. His business has a huge potential to become a 7 figure business within the next 6 to 12 months.

Damiano and his team were able to build processes in the business that bring consistently new leads. They also have a process to reach out to those clients and close them. As a result, Damiano is able to consistently make $30k/Month.

Damiano closed clients up to several months and even a year ahead. He closed a total of $120k this year in collected payments. Furthermore, he has another $180k still coming in from deals that he already made. Damiano and his team have a goal to reach the half a million point and they are very confident that they can get there.

One of the things that BMI mastermind taught Damiano and one of the main reasons for his business growth is how to delegate. He has project managers and everything goes very smooth. As a result, the work that Damiano has to do is a lot less and he can focus on other parts of the business such as getting deals, making market shares and working on the business rather than in business.

Damiano offers web development and marketing services to his clients. He comes up with a solution that would incentivize him to provide a really good service to his clients. Damiano makes deals where not only he gets retainers, but he also gets revenue share as well. So, it is a win-win situation for both parties.

Damiano changed his working space into an office. That changed the dynamic of working with his team for the better. It is much more efficient. All of his employees are there and there is more stuff getting done in less time. Bringing everyone under one roof brought the productivity way up. He has team members who are dedicated to their job and stay in the office throughout the night.

What is more, some of Damiano’s larger clients want to meet with him and his team locally in Toronto. That makes a huge difference in terms of social proof.

Damiano has some time to travel the world, but he does not travel all the time. His priority is his business and he is aware that he cannot leave his business run without his attention.

Damiano wants to have some people who are working locally, but he knows that traveling is something that is going to advance the company. That is why he also needs people who can help with the business by traveling.

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Damiano is going to reveal to you what happens when you get a Fiverr dispute and lose rank.

It is disappointing for any seller on Fiverr when a customer wants to cancel an order. It’s all about setting the client’s expectations correctly. Most of the time when a client wants to cancel an order, it is because the client is getting something that he did not think he is going to get.

Fiverr is out there to make money and when the order gets cancelled, Fiverr also does not make money and that is why they do not tolerate any cancellations and they are going to reward you if you save the order.

If you lose the order, that will affect your cancellation rate. If your it goes under 90%, there is a chance for you to lose your level. As a result, you will lose traffic and your revenue will go down.

The #1 thing to prevent this is to manage client’s expectations. A very good strategy is add a line in your gig that asks your clients to send you a message before they place an order. You need to have a very good communication with the client and to make sure you understand each other.

You have to get more clients, over deliver and get more 5 star reviews. Moreover, you have to double down the communication and the time you spend on the platform. Fiverr wants to see that people who lose their levels are going out of their way to regain their levels and are working extra hard on the platform.

You don’t want to make any major changes on your profile, because that’s going to derank your gigs. You need to have better communication with your clients and push them towards purchasing from you and offer a much better service. That is what is going to bring your level back.

If you are a level 2 seller, you are allowed to have 20 gigs. But, if you are a level 1 seller, you can have a maximum of 10 gigs. The amount of money you make on Fiverr is based on the level that you have.

When you lose your level, Fiverr will give you 48 hours to pause 10 of your gigs. If you don’t pause them, then the Fiverr algorithm will pause them automatically according to the gig that get least impressions.

After you get back to level 2, you can reactivate the gigs. It takes about a week for the gigs to get back their ranking and to start getting impressions and views. That is why you should not pause your top selling gigs.

Sometimes, there are situations when a client ordered your gig and does not respond. In this case, you should start working and when you deliver, you will get your money.

The key is to play the algorithm, over deliver and keep your best gigs running. In addition to that, you should always run a second funnel. You need to run multiple funnels. Your business is running funnels for your agency.

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Have you ever wondered what it’s like to get to $20K per month in your ads agency. In this video we are going to share some of the lessons that Arin learned that led him to $20K per month with 50%-70% profit margin. You are going to find out the best secrets, so that you can repeat some of the success that he has and avoid the mistake he had in his journey.

Arin is a fire engineer and he was working a 9 to 5 job and sometimes even 12-13 hour days, not to mention the time in traffic he had to spend. He was helping architects design buildings, so that they are fire safe and in case of fire no one dies.

Arin knew from the very beginning that this is not for him and he was looking for ways to start his own business. He spent so much time and effort trying to make his business grow. While he had a 9 to 5 job, he was working on his dropshipping business.

Arin joined a business mastermind and after his first sale, he quit his job and focused full time on his business. He saw the success that the other mastermind members have in their businesses and saw the potential in this mastermind. He knew that this is the thing that he has to do.

Arin had an ad agency running the standard BMI funnel. In his first month of going full time in his business, Arin made 3 sales worth $1400 each.

Arin joins the instructors’ calls. He listens to their advice, asks questions. There is always someone who is willing to help. Within 6 months Arin made his first $10K month in revenue.

You cannot learn much from random online courses where a guy shows his lamborghini to attract your attention. In fact, he is probably making more money selling his course than from his business.

On the other hand, Business Mentor Insiders mastermind is completely different. You have daily instructor calls. You have a Facebook group where you can ask questions any time. There are people who made $50K a month, $100K a month. You have access to that mentorship. Furthermore, you get accountability partners. There is so much there that helps you and drives you to higher levels of business success.

There was a time when Arin’s business dropped to $5K and that was a very emotional moment for him. But, in every business there are ups and downs. He realized that his skills are worth much more and he started charging more. Moreover, he started working harder and smarter to close more deals. In addition to that, he managed to close leads that can pay him premium amount of money on a retainer basis. As a result his revenue went up and he reached $20K a month in 12 months.

People think that they can just join a mastermind, sit on the side, not asking any questions and absorb knowledge. That’s not going to happen. You have to actively be there and implement. Listen to the instructors in the group and implement.

- Constantly learn and ask questions.

- Make sure that you bring value to your clients. Don’t just sell your service to make some money.

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Darian is going to share with you what happened when he quit his 6 figure sales job to start an agency.

Darian reveals that the key reason that led to his business success is his participation in the Business Mentor Insiders mastermind. He shares how important the coaching calls in the mastermind are. Everyone shares various problems in his business and other mastermind members who have faced these problems provide the solution.

Darian is running a Facebook ads agency. He has been in sales for 8 years selling digital marketing solutions. He was displaying advertising and branding content for an American publisher. He is familiar with Facebook pixels, targeting, branding and he can talk about that very easily.

Usually it takes several years in talking to other business owner to learn that stuff. Thankfully, there are people out there who have put everything into a process, so that our brain can follow it and learn it faster and easily. Darian learned many new valuable things from the BMI Facebook course.

Darian got fired from his sales job and instead of getting a new job, he focused full time on his business. Darian realized that there is a lot more opportunity in doing his own thing. Within 5 weeks of implementing, he made his first $10K month in business.

He knew that it does not make sense to get a new job and work for other people. Darian was very determined to focus full time on his business and dedicate a lot of time on doing something that he loves.

Due to the valuable things that Darian learned in the BMI course, he is now able to consistently generate leads and turn them into clients. Darian has plans to grow and scale his business by hiring the right people who can take the workload off from him and creating processes in his business.

People like Darian who live in Australia hire people from Eastern countries and pay very good wages for those countries which is a fraction from anything that they would have paid in Australia. The quality does not go down that much. You only need a copywriter from an English speaking country. These people are very happy making a couple hundred dollars per project or making $1K per month.

The disadvantage of having people working for you remotely is that those people are not there with you and there is a lot of miscommunication. The advantage is that you are not employing them and you have an infinitely scalable team without offices.

Darian does not want to do day to day freelancing. He wants to be able to work on the business and not in the business.

Darian is completely aware that more money and bigger business brings more responsibility. He has to make sure there are enough leads, the clients are happy, the delivery process is on time. Darian has to know every single process in his business and to know how it works. He has to provide guidance and feedback to his team members. As a result, his team members will be able to provide better quality work that will lead to better results.