Welcome back to the Healthpreneur podcast! On today’s solo round I’ll be sharing with you your new marketing budget for 2019. Disclaimer: You might not like what I’m about to share with you but you need to hear it if you want to build a successful business that lasts.
If what you’re doing is making money, then you have a marketing budget. And if you have a marketing budget and you’re using it wisely, you should be profiting at exponential levels and continuing to increase your investment to your marketing strategy.
What? Is this not happening for you? Then you’re doing something wrong somewhere along the line. Tune in to learn the route that is proven to work and lean into the experience and wisdom of others who have already taken the path. It’s about time.
Click here to subscribe to the Healthpreneur™ Podcast on iTunes
In This Episode I discuss:
1:00 – 3:30 – Your marketing budget and the two routes you can take
3:30 – 8:00 – Why the slow route isn’t just slow – it doesn’t work
8:00 – 12:00 – Starting with a small investment and gaging your returns
12:00 – 17:00 – The difference between a cash flow issue and a profit issue and an example
17:00 – 20:30 – Leaning into the experience and wisdom of others
20:30 – The most valuable thing in your life: Time
What You Missed:
On our last episode, we another client deep-dive with one of our Health Business Accelerator clients, Tara Mazanec.
Tara is a personal trainier holistic health counselor, and yoga instructor. She loves helping women in executive positions improve their health and vitality.
In this episode, we polish up the language in her webinar so her offer and ideal client are crystal clear.
To do this, we had to go deep into where her clients are feeling pain. We had to touch on that pain and frame our offer as the solution.
Once that’s done, the webinar becomes so much easier to create.
Tune in to hear how we break down the structure of our offer, title, and perfect client. Chances are, you can always improve upon the way you frame your offer, too!
Welcome back to the show. Today I’m going to be sharing with you your new marketing budgets. Now, I’m going to give you a fore warning here. You might not like what I’m about to share with you and if it rubs you the wrong way, then I apologize.
Actually, you know what? I don’t apologize, because this is the reality of what it takes to build a business. I want to be very clear with you. I’m not in the … My goal is not to help you build a little side hustle. My job is to help you create a legacy. I want you to create, not just getting more clients coming in, but I want to help you ultimately create something that is going to leave a dent in this planet in a positive way. Okay? So, in order to do that, you need to take your businesses seriously from day one.
Your marketing budget and the two routes you can take
So, a lot of people, I see join our free Facebook groups or talk to us. You know, they talk about not having a marketing budget. And for me, I don’t really understand that because when you have … If what you’re doing is producing a positive ROI, then why do you need a budget? Do you see what I’m saying?
So, let’s say you say, “I’ve only got $500 to spend on marketing.” “Okay, cool. Well, what if that marketing generates $10,000 for you? Are you going to stop at $500?” If you’re smart, you would say no to that because instead of just spending $500 you’re like, hold on, I’ve just got $10,000 in return. What if I spend $5,000, maybe I’ll make $100,000 in return.
So, this is where you have to think like an investor. So I don’t, I don’t use budgets, I don’t even think of budgets at all. Because everything we do from the team members we have to the marketing that we do is tied into an ROI.
Why the slow route isn’t just slow – it doesn’t work
So, here’s what I want you to think of as your new budget. If you don’t have cash sitting around, which by the way, most people don’t to invest in your business. Unless you’ve already had a lot of success and you want to reinvest in your business. But you have two options. Okay, you’ve got two options. You can see yourself, don’t have the marketing budget, and you shut off all possibilities of what you’re able to do in terms of building your business rather quickly, and you end up going the slow routes, which is what almost everyone does. So, you say to yourself, I don’t have enough money to invest in marketing, so what am I going to do instead? What’s the plan?
I’m going to blog. I’m going to put some stuff up on social media. I’ve got this really great opportunity. I’m part of a summit coming up and that’s really going to make my business blow up. By the way, it’s not going to, I’ve done a lot of them and have a hosted them. Listen, I don’t want to be the bearer of bad news, but I do want to spare you from needless suffering. My overarching why would I … why I do what I do, is to end suffering or health and fitness business, its purpose is to end suffering for people with their health. Healthpreneur our core mission is to end the suffering of entrepreneurs in the health and fitness and wellness space, because I see it every single day.
So, you have the choice of going via organic slow route. You’re going to post some stuff on social media which no one’s going to see. You can create some free content on your blog or on YouTube, or create a podcast that again, no one’s going to see at least for the first couple of years, especially with the most recent Google algorithm updates. That’s even more depressing. Or you can do some free talks here and there, you might pick up a couple clients, but again, it’s dependent upon your time and effort and again, how much of that can you possibly do? Or you might do some joint ventures and some affiliate stuff, but again, you need an offer that really converts really well in order for people to promote it. So, those are some of the options you can do from, I don’t have a marketing budget perspective, so I’m just going to effort my way based on time to my end results.
Starting with a small investment and gaging your returns
The second option you have is a really … I mean you got to love this. Okay, so this is going to be your new marketing budget. It’s a really great four letter word called a Visa or Amex. Yeah, seriously. I want you to get to the point in your business, where you are comfortable throwing stuff on your credit card. Now, you might be throwing stuff at your computer. Now, you might be thinking or you’re just like taking out your budget like, “This guy’s crazy, he’s on drugs, he’s like on a different planet.”
You know what I might be, I might be on a different planet. But here’s the deal is, I know based on experience, having been doing this for so long. The only way to predictably grow your business and attract clients, is to be able to figure out how to spend money to acquire clients. So, let’s look at the case of two scenarios. So, you put up a really well thought out post on Facebook and Facebook has told us that if you just post it on your page 2% of your followers will see it. That’s really encouraging, let’s do that all day.
So, you put that out there, unless you’ve got a thousand fans, so 20 of those fans see the post. That’s one option. And you can continue doing that for the end of time and your business is going to crawl along. The second option is you put that very same post up on Facebook and instead of just letting it sit there, you click that little button that says boost post, and now you tell Facebook how much money you want to give them so they can show your message to more of your perfect clients.
Now, a lot of the two reasons people don’t play with the advertising space. Number one, they don’t know what the hell they’re doing, in which case you should not do that, because you’ll waste money very quickly. Second is they’re afraid. They’re afraid that what they’re about to do is not going to return any money to them. And that’s okay because you are afraid of what you don’t know. And that’s totally okay. So, number one is you have to get the right training and guidance to know what the hell you’re doing. And as a result of that, you’ll have less fear to move your business forward.
Again, I’ll keep plugging our coaching program, because if you want to do this, like this is what we do every single day with our clients. We help them go from, no one’s ever heard of them, to now putting a message in front of them. I’m getting calls booked with the right people on the phone. And that’s the option, right? You’ve got two options, you can do that. Or you can do the slow turtle organic route that I told you about earlier.
The difference between a cash flow issue and a profit issue and an example
So, your marketing budget … As an entrepreneur you have to get to the point where you are comfortable using Visa as money, while ultimately your money but you’re using a credit card as your marketing budget. It’s not a budget. You’re saying, “Listen, I am willing to go in the whole.” Let’s say a couple of hundred dollars in 30 days. “I am willing to invest $10 per day on Facebook ads to get my message in front of more people and I know that I’ve got a pipeline built out.” Hopefully you do if you don’t, don’t do this, okay. So, you have a pipeline built out. You know you just need more people coming in the pipeline, because you have a money problem … you don’t have a money problem, you have an income problem. And if you have an income problem, you really have an incoming problem or a pipeline issue. You have no one coming in your pipeline, right?
That’s the real issue. So, when you’re speaking to someone on the phone, you’re like, “Oh my God, please work with me. Please work with me, because you have no idea. You have no like there’s no one else lined up to work with you.” But when you fix your pipeline issue and you’ve got hundreds of people in your pipeline, you’re like, “You know what? I don’t want to work with you. You’re not the right fit, next.” That’s the place you want to get to. And that doesn’t happen overnight with the organic slow route, that’ll take you five to 10 years.
But with Facebook, who by the way has 1 billion users, and I promise you they have millions of your perfect clients, no matter what niche you’re in, you can find them on Facebook. So, Facebook is your blog. Facebook is your YouTube channel, Facebook is your email list. Everything you want is on Facebook. Now, the question is, are you willing to step out of your comfort zone and give Facebook a little bit of money, so they can give you more of their people, right? More of your people that are using Facebook, okay.
So, you put $10 a day in Facebook ads. What’s the worst thing that can happen in the space of one month? You lose $300. Is that the worst case scenario? Are you going to be living on the street, if you lose $300? Hopefully not. Okay, I really hope not. But what’s the upside? What is the upside? You could lose 300 bucks, but could you make more than 300? You can make multiples of 300. Typically we want to see in our life where our clients have three to one. So, if you’re spending 300 you’re making 900 in return at the minimum. And this is why it’s also important, going back to the pricing of your program, to be a little bit on the premium side, we’re not $97 courses like come on. Seriously, you can’t make that work on paid traffic. It’s not going to happen. It’s not going to help your people, just don’t even do that stuff.
So, your new marketing budget is to think differently. It’s to say, you know what, I don’t have a budget. I don’t have money to throw it this stuff. But you know what I do have, I’ve got a credit card and that credit card doesn’t need to be paid off in full for instance, it can be paid off in installments, or if you’re using an Amex, obviously in full in 30 days or so. But I believe in myself. I believed in my dream. I believe in my program and my ability to help people. I am willing to take out my credit card, spend $10, $20, $50, $100 in our case, $2,000 a day right now on Facebook ads. Because I know that’s the only way to get my message in front of people.
Okay? So, that’s how I want you to think. You have to think like an investor, because what … think about this, you could go to the bank and asked for a loan, right? You could do that, but they’ll rape you, like they’ll rape you and interest rates. Or You could say, “Visa is my lender. Visa is lending me as much as my credit limit is.” We don’t need a blow it obviously, let’s be smart about it. But let’s just say, visa is going to lend you $500 a month, $500 a month. Just start with that.
So, visas lending you $500 a month if you don’t pay it back, worst case scenario, interest rates will be 10% to 20%. Okay, not the end of the world. But ultimately, if you can spend $500, I promise you at the right pipeline, you’ll be getting several hundred people that are coming through your pipeline. And a few of those will probably book calls with you, to speak with you about potentially working with you. You spend $500 and let’s say one client enrolls with you and let’s say at the very minimum your programs like $1,500, like really inexpensive. And if you’re thinking really that is expensive, that’s a whole other topic. Okay, please listen to my other episodes on pricing and mindset and stuff like that.
But let’s just say it’s $1,500. You spend 500 you just made $1,500 return. So, do you have a budget issue? No. You have a cash flow issue, because in this scenario you’re saying Visa, lend me 500 bucks for 30 days and I’ll pay you back in 30 days. So, you pay off the Visa and you still have an extra thousand dollars profits to reinvest in your business and then take some out for yourself if you want. That is how you succeed in business. That is how you need to think. That is called being an investor in yourself, not in some stupid stocks and some companies you have no clue about or no control over.
Leaning into the experience and wisdom of others
Invest in you and your business. It is the number one vehicle for you to create financial freedom. It is the only way to grow your business rapidly. It is the only way to grow and scale your business in any appreciable amount of time that is not five to 10 years in 2019. There is nothing else that I’ve seen that I’ve done, I did … Listen, you probably know this by now. I’ve been on that since 2006 and I have done everything. These summits, the books, the free plus shipping offers, the supplements, the free lead magnets, the convoluted funnels, the joint ventures, the affiliates, the speaking on sage, you name it. I have done every single business model you can think of and nothing will produce the results from day zero. That taking this mindset will produce for you and your business.
Thinking like an investor saying, “I’m going to use my credit card and if I don’t have a credit card, you know what? I’m going to go and get one.” Even if it’s a $500 credit limits. That is how you build your dream. You have to have the confidence to commit. You can’t just take this like, you know when money comes in, like I’ve got this really cool opportunity to come up. I’m speaking at a lunch and learn. You can’t build your business on hope. Like you cannot do that kind of stuff. It’s ridiculous. I hear it all the time and it drives me crazy. Listen, I mean it’s easier for me retroactively to see this stuff. That you can’t see this stuff. If you’re in it and you’re thinking this one opportunity is going to make all the difference for me.
Let me share a really quick story with you, about my real big first kick in the ass. 2009, I had been struggling on the line for three years, trying to do all this stuff myself, the cheap way, the freeway, the long organic way. It wasn’t working. So, I decided I’m going to create, well technically what it’s called, the summit, but at the time it was basically an interview series. I interviewed 13 of the leading health and fitness experts in the industry. And it was called, Fitter Than the Pros. I wanted to go behind the scenes, like I was just interviewing them and asking questions about like, “Hey, how do you stay so healthy and fit, as you’re building your business? As you become this micro-celebrity?”
And I thought they were like … I thought this is the best thing since slice bread. I thought this was like the game changer. Like no one else had ever done this before. People are going to love this. You’re going to feel so inspired and motivated to go out and make positive change in their life. So, months like interviews and prepping all this stuff, get on the sales page and funnel ready. And the night before we launched, I went out for drinks and dinner with a couple friends and I said, “Hey guys, whatever you want, it’s on me.” And they’re like, “Dude, did you win some lottery or something?” And I told them I’m like, “No, but I’m about to.”
I was telling them about this launch that we have coming up starting tomorrow and I’m like, “Guys, you have no clue this thing is going to crush it.” I was telling my friends, and obviously colleagues in this space and like, “Guys, this is going to be the biggest launch. This is going to be a seven-figure launch. No one in the industry has ever done this before. This is going to be a game changer.” I was saying this stuff publicly, like I was telling our partners, “This is going to be huge. Promote it, you’re going to make a ton of money. It’s going to help a lot of people. I was making a lot of promises.”
So, that night before the launch we go out for dinner, had some drinks. I said, “Guys, it’s on me. It’s all good.” And I go to bed like, oh my … like, I’m so excited. The next morning I wake up, I jump out of bed and I checked my stats and I’m like, is the website broken like that? We had so much traffic that nothing else happens? And then my worst fear came true. I went to the website, everything was fine, I checked our stats and I saw there was traffic that had landed there.
But the problem was that no one bought and no one bought. And for four days of this promotion, what I thought was going to be a seven figure promotion ended up making a grand total of $5,000. Not too bad. I mean, well, let’s just put this into context. Seven figure launch turns into $5,000 that’s pretty, but there’s a big gap there, right? The worst part, it’s 75% of that was owed to my affiliates. So, I walked out of that with maybe $1,500.
So, I shared this story with you because you only know what you know, and you don’t have enough foresight to understand how or why things are going to work out or not. And that’s why it’s really important to work with a coach. Someone who doesn’t just like know stuff, but someone who’s actually been through this. And I think it’s really important to lean into that experience and wisdom, because listen, if I can assure clients of ours and I can shave off years of frustration and trial and error, just by giving you some advice, or by stirring new clear of nonsense, that’s going to save you a lot of time, money and frustration.
If someone had told me, “Hey Yuri, let me talk to you for a second. Listen, I know you’re super passionate about this project, but I need to be very honest with you. No one gives a shit about this stuff.” I’d be like, “What are you talking about? People love this stuff.” I’m like, “Listen, I’ve been in this space for 10 years. I’ve done stuff like this. What I’ve recognized is that people don’t want to buy motivation, they want an outcome.” And had someone told me that back in the day, it would’ve saved me months of doing all this nonsense and speaking all sorts of big promises and then looking like a fool when none of it worked out.
So, the reason I share this story with you is, because I don’t want you to end up in the same position that I was in. And I’m not saying that it’s going to happen for sure, but I can promise you that if you are doing things the free cheap way, you’re not going to get the results you want. Listen, we get dozens of new people coming in are free Healthpreneur group every single day. You know what I’m going to do? One of the upcoming episodes, I’m just going to read you, what their goals are over the next 12 months, because we ask them two questions. What’s your goal? And where are you stuck?
The most valuable thing in your life: Time
Every single one of them is the same thing. I want more clients. I want to make six figures. I want to make … Like I want more clients, but I don’t know how to get more clients. I want more clients, but I don’t know how to get more clients. Like, so guys I’m telling you the secret here. Now, you have to step up and be like, do I have the cojones, right to take my credit card and get a little bit uncomfortable and invest in myself and my business.
How do you think airlines start? Do you think an airline starts with a bag of cash? Nope, Richard Branson started Virgin Airways or whatever it’s called Virgin Atlantic. No bag of cash. He had to like beg, borrow and steal loans from the bank. That’s called credits. Do you think Elon Musk, do you think apple, do you think any restaurants, do you think any big businesses started with a bag of cash just saved up for a rainy day? No. As far as I know, all of them, at least the ones I know of and read of, and can speak of. Started with a dream, they believed in it, they got money from friends, banks, credit cards or whatever, and that is how they funded the business.
They fund the business with other people’s money. And in your case there’s two sources of other people’s money, credit cards and your clients. This is called client financing. Your clients are paying you to acquire them. our clients are giving you the money to then put back on your credit card. I want you to really understand this and if you are not willing to do this, then here’s my recommendation is please go work for somebody else, please. I’m sure you have some great talents that other people could really benefit from, but if he were not an investor and if you’re not willing to invest in yourself or your business, you should not be in business.
And Darwinism, survival of the fittest is a fair phenomenon, because what’s going to happen is you will eventually run out of business, because you’re not doing things properly and you will succumb to like, “Okay, I can’t do this anymore.” So, you have two choices. It’s either you do this or you painfully glow to slow organic routes and do the freeway, which is financially less risky, but riskier in the long run because you’re tying is the most valuable thing, it’s the only thing. Money you can make back, you can’t get time back. So, I hopefully … I really, I mean I hope you get this, like this is such an important topic that I’m going to do multiple shows. Just continuing to harp on this, because you have to get your mind right, like you have to get it on rights.
I don’t care if you made no money last year. I don’t care if you’re not willing clients right now. I don’t care. If you believe in your dream, then you have to be able to get uncomfortable, put a little bit on credit and start building your business, building a dream. Because the alternative is if you don’t believe strongly enough in your dream, what’s going to happen is Pac-Man, is going to gobble you up and have you build his or her dream. Your dream needs to be bigger than everyone else’s, otherwise you’re going to be building someone else’s dream, because you’re going to get to the point in your business, where it’s too hard. I just want to make an extra thousand dollars. Listen, like that’s not a big dream, right? You’re going to end up working for someone else who has a bigger dream, who you can support, and that’s fine, but you just must be honest with yourself.
So, I hope this episode really gives you like an alarm clock, wakeup call about the reality of marketing budgets and how they’re quite honestly ridiculous. If your marketing is tied in with an ROI, that’s all that matters. I don’t have a marketing budget. My budget is how much money can I give Facebook? That’s my budget, because I know my metrics, I know my ROI and if I can give Facebook more money, Facebook will give me more clients, and it’s the same thing for you if you had your stuff dialed in right? And if you don’t, then please reach out to us and let’s have a conversation. All right, so hope you have a great day. Hopefully this no BS Podcast episode, has found you well and I look forward to seeing you at our next episode.
Hey, thanks so much for joining us on this episode of the Healthpreneur Podcast. If you’ve enjoyed this episode, here’s what I’d like you to do right now. If you haven’t done so already, please subscribe to the Healthpreneur Podcast on iTunes and while you’re there leave us a rating review. It helps us get in front of more people and change more lives.
If you’re ready to start your skill, your health or fitness coaching business, I want to start getting in front of more people, working with them at a higher level, without trading time for money. Then invite you to check out our free seven figure health business blueprint training. Totally free right now and you can do so at Healthpreneurgroup.com/training.
For now, thank you so much for joining us. Continue to be great, do great and I look forward to seeing you in the next episode.
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