What Entrepreneurs Lack Most

In 2001, I set out to find a marketing niche that I could dominate. Many were already occupied by great marketers, so I wanted to find one of my own. That was when I came out with a course on marketing with postcards. The course was a three-ring binder and included a physical CD. It was expensive to produce, but I did very well on it, making five figures a month with under 30 visitors a day. Thanks to this success with so little traffic, I released a new course called Traffic Conversion Secrets. This was where I made my first million dollars. After that, I started to release more courses, including Teleseminar Secrets (which made me over $14 million). I released many other courses, which did very well financially, but there was a big problem. None of my courses was scalable. Do you see why that’s an issue? My income would be episodic, going up and down depending on when I had released a course. And I had to keep working and working, always creating new courses, because the business couldn’t survive without me and didn’t grow on its own. Many of my students (who you’ll learn about in this episode) have surpassed me in scaling, and I’m ready to explain why. The key to scaling is in documenting. You’ll be amazed by how powerful your results are when you have your team members document what they’re doing as they’re doing it. In addition to this incredibly valuable tip, today’s episode will also teach you three key insights: Why lacking a focus on business scaling prevents your financial freedom. How to scale your business without surrendering what you do now. What the true purpose of scaling is: to plan with the end in mind. Don’t miss this value-packed episode, which will help you ensure that you’re doing your best for your business (and your future) no matter where in the stage of building or running a business you are. In This Episode: [03:13] - We learn about the three specific insights into becoming a highly skilled ethical influencer that Alex will be exploring throughout today’s episode. [05:29] - In 2001, Alex set out to become a guru in the marketing space. [11:58] - We hear about how a friend encouraged Alex to teach teleseminars, and why that was filling such an important niche. [13:34] - What was the big problem with Alex’s business model, since he was making so much money from it? [15:19] - Alex defines what scaling is, and talks about his “unique ability” to turn his students into his teachers. [17:17] - We hear about the McDonald’s brothers an example of optimizing in different ways and creating a scalable business model, as well as examples of people who Alex knows personally who have created scalable businesses. [21:47] - Alex talks more about how his friends and former students have created amazing (and scalable) businesses. [26:10] - The key to scaling is documentation, Alex reveals, and explains why it’s so important. [30:17] - Alex recaps the four keys he’s described involved in documentation, then shares examples of case studies. [31:11] - The strategies to scaling are ultimately to get 7 things: transfer-ability, exit-ability, adapt-ability, manage-ability, refer-ability, brand-ability, and growth-ability. [34:54] - Alex explains why it’s so important to think about scaling from the beginning, even if you aren’t yet making a significant amount of money. [38:04] - We hear a quick review of the points that Alex has explored today. [41:45] - Please take a moment to provide a review of your own! Head to this link and do something specific: instead of leaving a general review for the podcast, leave your biggest takeaway from this particular episode. [43:18] - Alex offers listeners a final gift: free access to his four-part video e-course, which you can find at this link! Links and Resources: Alex Mandossian MarketingOnline.com Marketing Online 4-Part Video Training Series Alex Mandossian on YouTube Alexisms by Alex Mandossian All Selling Aside on iTunes Alex Mandossian’s free live Friday show Roy H. Williams Jay Abraham Tony Robbins Ted Nicholas Joseph Sugarman Dan Kennedy Armand Morin John Reese - The First Million Dollar Day on the Internet Jeff Walker Dan Sullivan Clate Mask Infusionsoft Ryan Deiss Perry Belcher Roland Frasier Warroom Mastermind Traffic & Conversion Summit Dry Farm Wines Bulletproof Coffee Stephen Covey Franklin Covey Scale or Fail by Allison Maslan