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338 - A Greater Invention Than Compounding Interest

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338 - A Greater Invention Than Compounding Interest

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So if you’re focusing on one business, which is my message to all of you all, and everyone in my inner circle all the time. Focusing on one business because then at least your customers are compounding. Everything you do brings more people to your list, more customers, things like that. It’s a compounding effect from there. So that’s a big, that’s compounding, which is good. That way when you’re focusing all your rollouts and launches and products and everything in one niche, at least the customers are compounding. So every time you do it, it gets better the next time.

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Transcripts:

What’s up everybody, this is Russell. Welcome to Marketing In Your Car. I just dropped off Dallin, one of my twinners, actually the first born. My first born of my loins. Is that what they say? I don’t know, maybe not. Anyway, at dance class, and I’m heading into the office.

I’m excited this week, I did this last month too, I did a juice fast week and I lost a bunch of weight and then I went crazy, so I’m doing juice fast week again this week, which will be good. And I just got back from last week, so crazy. Last week, I forgot to tell you guys, I was going to do some podcasts and stuff, but then I didn’t. Sorry about that. We went out, if you guys know who the Harmon Brothers are, if not go to harmonbrothers.com and check it out. They’re the guys that do all the funny viral videos. We did an exchange for them. They had this, one of their viral videos was called Fiberfix.com and it went really viral but their funnel wasn’t doing that well, so we helped them build the funnel in exchange for them writing a script for us.

So we went to a writing retreat this week with them, last week with them. It was cool, they rented a cabin in Sundance for two days, they had 3 writers write scripts for us. They brought them in and then we got to listen to all the writers scripts, which were insanely amazing. From the three scripts we picked the best one and then the writers went down to the basement for 3 hours. Took all the best jokes from the other two scripts and weaved them into the other script and then they came back. And we liked it and gave them feedback and it went back and forth, back and forth for two days until the end they came with this script that is legitimately the most amazing thing on earth.

And then the plan is we were going to go out and produce it, then on Friday I got an email from them saying, “Hey, Russell, it turns out we really love the script, and we really love you and your team and we want to work with you guys on this and actually produce the whole video.” which is exciting. I’m actually heading to the office right now because I have a call with them to figure out the deets.

And for those, who aren’t cool kids yet, deets means details. So figure out some details with these guys and if it works out they’re going to produce the video for us, which is insanely cool. And just by nature of the script, we went and created ten new things on the back end to create…. I can’t even tell you about it now because it’s so vague still in my head, but it’s amazing.

Anyway, I’m really, really, really excited for it and excited to share it with you guys here hopefully in the very near future. But yeah, it’s awesome. If this video hits like it can and it should, I think, at the beginning of the year I said there’s a couple goals I have. Our goal was to get to 100 million members, not 100 million, that would insane, 100 million dollars, which is also insane actually. So the goal is to get to 100 thousand members and I think we started the year at, I don’t remember what we started at, but we are at, I think wait, 39 thousand? Or maybe 40. We’re close to 39 or 40 thousand members. Somewhere in there.

I was like, well I got two big plays to try to, I think I have 3 or 4 big plays this year. For me, I’m always like, I’m going to try to hit a homerun, but I might not. If I hit three or four singles that will equal a homerun. I think, I’m not a baseball guy, but I think so. So I try to have 3 or 4 big things. So number one was book launch, which is going amazingly well by the way. We’re almost two weeks in, we’ve sold 28 thousand copies I think. So that’s going really, really well. Phase two of the launch is starting this week, which is cool. And then number two was this viral video, which now looks like it’s going to hit, which that could bring on an extra 20,30,40 thousand members, so that’s cool. Number three is an infomercial that we’re going to be filming later on this year.

Anyway, we’re just trying a bunch of Hail Mary passes. Getting all my sports analogies messed up. Hail Mary passes, home runs, grand slams, I don’t even know. Double leg to their back, choke them out. A bunch of different things. I told everyone on my team if one or two of these things hit, we’ll hit it. The book launch is hitting perfectly right now, which is awesome. And now the video looks like it’s going to hit. There’s our two and if we get the infomercial as well, it’s going to be amazing. So fun stuff happening over here. I’m just excited.

What I wanted to talk to you about today, I want to help shift your mindset a little bit. I talked a lot about this at my inner circle, at my last inner circle meeting. It’s about compounding interest, maybe not. So compounding interest, some dude who’s famous said that the greatest discovery in the world is compounding interest. So me, someone who doesn’t understand finance and doesn’t really care to that well. I was like, alright, I don’t know what that means, but it sounds awesome. And then I tried to invest because I heard that, and then I saw that I hate investing stuff, so I didn’t really like that.

I kind of left the whole compounding interest thing on the side even though they said it was the greatest invention of mankind. And I went on my way to keep trying to sell stuff. So now fast forward til today, what’s interesting, and again I have no idea if this actually relates to compounding interest, probably doesn’t, but in my mind the concept of compounding, creating something everything else you do compounds upon that core thing. That probably doesn’t make any sense yet, but I’ll put it in perspective.

So for me, for the last 14 years of my life, minus the last two, every time we would do something it was a lot of work and then we would launch something and make a bunch of money. And then that work would disappear. It would evaporate, right. That was the info product game and that was launch game. That was us launching businesses. So with a lot of my business was launching different businesses in different industries and the problem with that, you launch it and then with the customers you got it, if you lock in their business next week, those customers don’t compound.

So if you’re focusing on one business, which is my message to all of you all, and everyone in my inner circle all the time. Focusing on one business because then at least your customers are compounding. Everything you do brings more people to your list, more customers, things like that. It’s a compounding effect from there. So that’s a big, that’s compounding, which is good. That way when you’re focusing all your rollouts and launches and products and everything in one niche, at least the customers are compounding. So every time you do it, it gets better the next time.

When I launched my very first product, it was Zip Brander and I only had 5 customers. Then I launched my second one, which was Article Spider, I got like 30 customers. Then the next one, and over the last twelve years it kept compounding. Customers kept adding up and getting bigger and bigger until today. So it’s always compounding, which is cool from a customer compounding standpoint. But what’s even cooler, is until we had this thing called Clickfunnels, even within that, we still launched and made a bunch of money and get more customers, but then it was back to the drawing board every single day.

What I was telling everyone in our inner circle, and what I want you guys to think about too, figure out your one thing you’re selling, your core thing. For me, Clickfunnels is it. I know obviously, everyone can’t have a Clickfunnels, but everyone can have something like that. It might be a membership site, it might be software, something where it’s like, it doesn’t have to be recurring, but I think it should be. Something where you’re consistently pushing people into this thing that is compounding. By that, what I mean is it’s really cool, when we first launched Clickfunnels, I’d get a text every morning from Stripe telling us how much money we make. And we have 10 different stripe accounts, so we’d get 10 texts a morning. It’s kind of cool, we’ll see the launch we’re doing, we’ll see for the book funnel that’s been launched, it’s done with the 27, 28 thousand books, I can’t remember what we’ve sold right now. It’s almost a million dollars in cash collected.

I’ll see a big huge thing, “$250,000 deposited today from stripe.” Or 100,000 or whatever. Those are cool, I like those they get me excited. But what’s cooler is watching the Clickfunnels one, everything we do now always compounds upon Clickfunnels. They’re coming to buy the book, where do I push them. If you guys went to the book funnel you know. You come for the book, I push you to Clickfunnels. You come into anything and it’s always pushing back to that thing. And I’m watching the compounding of it.

I remember when we first launched Clickfunnels, I would get a text some days there was 0 dollars, some days it was like 10, some days like 100. You see different things. As we double down and really focused all of our efforts on that, that number grows. I remember it got to the point where it’s like, every day we were making $10 thousand dollars a day. And my texts from stripe would say 10 grand a day. 10, 10, 10. I’m like, cool. Then it got to 12, then to 15, then to 18, then to 20.

It wasn’t necessarily that I was promoting Clickfunnels, but I was promoting all these front end offers to push people into Clickfunnels. And that number kept compounding and compounding. From 20 thousand to 30 a day. From 30 a day to 50 a day. 50 a day to 80 a day. 80 a day to 100 a day. 100 a day to 120 a day. 120 a day to 130 a day. It keeps going up and up and up. And it was fun because now it’s like, that’s the goal. That number. Everything is compounding upon that number. Even though I’m not directly ever selling Clickfunnels, all these things I’m doing are continually pushing people into that.

And that becomes for me, the KPI, everyone’s got a KPI in your business. For me it’s that. What’s the daily number we get from Clickfunnels? And as long as you’re doing a lot of cool stuff, that number should go up every single day. For us it goes up every, it’s crazy. I’m so, I can’t believe this is every day, it keeps going up. It’s because there’s so many things compounding now upon the one thing.

For you guys, A couple of things. First off, if you’re doing more than one business, stop because you’re not compounding. Every one of your efforts is watered down in half. When you’re focusing on one core business, everything you do now gives you more customers which compound, which means you get better and better every single day. That’s number one. Number two is having a focal point of where you’re taking all these customers. Something hopefully continuity based, residual based and then knowing that’s the key. Whatever, 250 thousand, or 100 thousand, those big days from the different rollouts are exciting and cool, but I don’t care about them.

The only thing I care about is that compounding residual number. Because that’s the thing that actually matters in the business. That’s the life blood of the business. So it’s continual focus and energy on that. So again, step number one, compounding. As soon as you’re focusing on one business and one customer base that’s how you compound. Then number two is pushing all those people into one core continuity and compounding there. And I don’t know about compounding interest, it’s the greatest invention in the world, but I tell you what, focusing on one business and on one continuity and pushing everyone into that, I think that’s the greatest invention of all business.

Anyway, that’s what I got today you guys. I’m at the office. I’m going to go prep my call to Harmon Brothers. We’re going to build this video out. We’re going to change the world. It’s going to get everyone in the world to become entrepreneurs, start using our software, which is so cool. And I’m excited for it. Appreciate you guys. If you haven’t got your book yet, go to expertsecrets.com. Get your copy of the book. We re-tweaked the whole funnel. So you may wanna go see the new version of it. There’s a whole bunch of new upsell, downsell process, now it’s a lot better. It’s increased our cart value by a lot, which is kind of fun.

I’ll have to tell you that story another day. There’s a really cool story, when we were at the cabin that happened, so remind me and maybe I’ll tell you that another day. If I forget, let me know. It was really, really cool though and it created a new OTO upsell offer that’s converting really, really well. And it’s pretty exciting. That’s all I got you guys. I appreciate you all, have an amazing day. Talk to you guys soon.

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