How to Scale Your Business Online: From One to Many

How to Scale Your Business Online: From One to Many


(exciting music) – Andrei, actually is a,
share your story, man. You gotta share the story, man. Thank you. So–
– Everyone say hi, Andrei! – [Audience] Hi Andrei. – Hi everybody, so I’m Andrei Mincov. I run Trademark Factory. It’s the only firm in the
world that does trademarks with a flat fee and 100%
money back guarantee, so I’ve known Dan for quite a bit. He’s actually given me some great advice, which almost tripled our conversion rate, what was it, six months ago? – [Dan] Yeah, something like that. – And, what he suggested was, so we had one package,
and Dan suggested to just tweak them and
create three out of ’em, and that made it so much
easier for me to sell them, but, because I do most of
the sales calls right now, we’re actually, I’ve wrote the manual that’s going to be outsourcing it, but, I used to have hesitation
when I was offering them because there was one good
package and two crappy packages, right? And when I spoke to you,
you said, no, let’s do it this way, so now we have
three great packages, and it just becomes so
much easier for me to talk to people because I know I’m helping them, so, thank you. – [Dan] Thank you. – And we just had the best month of our business in November, so. (audience applauds) Thank you. The question I had was,
even though we’re growing, we’re getting better, the
speed at which people find out about us is too slow. – [Dan] Yes. – For what I’d like. – [Dan] Yes. – So, my question is, so, how do I get more people to find out who we are? So, I am starting to
spend more on Google ads. – [Dan] Nice. – I am starting to
contact a bit more people through Help Reporter,
just to get my name to, you know, websites and news
and TV and stuff like that. My next year’s plan is
to do 104 YouTube videos, put them out every,
you know, twice a week, just something a little snippets. Any other strategies
you’d recommend that would reliably bring interested
people to the website? – So, I think for most, let’s say we’re talking internet business, which is my specialty, is, there’s so many ways to grow
the internet presence, right? What are some of the
ways, yell out the answer. What are some of the ways? – SEO.
– SEO, yes. – Twitter.
– Twitter, yes. – Video marketing.
– Video marketing, yes. – Blogging.
– Blogging, yes. Someone from the back, come on. – Facebook.
– Facebook, yes. – Social media.
– General social media, there’s so many of them, yes. Right, so, a lot of this
stuff if you notice, people say a lot of these
vlogging or video marketing, they call that, let’s put it this way: there are only three
ways you can get traffic. How many ways? – Three.
– Three. You can buy it, you can borrow
it, or you can work for it. That’s it. You can buy it, you can borrow
it, you can work for it. So blogging, video
marketing, content creation, people say it’s free,
but is it actually free? – [Woman] No. – It’s free in terms of money, but you have to spend time and effort to creating those
things, so it’s not free. You just, your putting in
your sweat equity, right? So, that’s creating content, right? Working for the traffic,
creating it, doing it yourself. Borrowing it meaning someone
who already has the traffic, i.e. let’s say Andrei, you’ve got a list of people
who want trade market, some kind of service that’s complementary. You already have the list,
I would say “hey, Andrei, “can we work a deal and
maybe do a joint venture? “You promote me to your list. “Whatever I sell I give you a percentage.” That’s borrowing your traffic, right? That’s borrowing, someone from existing. Buying it, pay-per-click,
Google, Facebook, you’re buying, pay-per-click,
you’re buying it. Banner ads, solo ads,
those types of things. In the beginning you can
do a lot of this type of working for it, SEO, all that, it’s okay to get going,
but I have never ever grown a significant internet
company through this. Never, not once. This is pretty good. This you can launch quite well. Joint ventures, borrowing
other people’s traffic, you can get to a pretty good point, but most of the money I’ve
made is through buying traffic. You’re buying traffic. So, basically what
Andrei is talking about, What’s your cost per
sale now, do you know? – [Andrei] Cost per what? – Cost per sale, do you know? Like, how much it cost you to invest in say pay-per-click
to get an actual sale? – [Andrei] So, a click
costs us 4 1/2 bucks. Every, we probably sell to
about every 1/6 of them. – So a click costs you, let’s do it together, can we do that? Yeah, help him out but also
you’re learning something. So how much per a click? – [Andrei] So, $4.50 for
them to go to the form. – Okay, and then? – [Andrei] So every third of
them will fill out the form. – Every third of them
will fill out the form? – Yeah.
– So cost per lead is what, $15? – [Andrei] Yup. – Okay. – [Andrei] Every six of them will buy. – So every six of these
leads one will buy? – [Andrei] Yeah. – That’s pretty high don’t you think? How much is your package? – [Andrei] We have three, so the average buy for them is about $1,500. – $1,500. Good numbers, good numbers. So cost per a sale is how much? – [Andrei] So 15 times six is what, 90. – 90? – Is that pretty consistent? – [Andrei] Yeah. – Okay. So 90 bucks and you sell
them something for $1,500. – Yeah.
– Right? So they are thinking: “Then
what is your problem?” (laughs) Right? Right, what the fuck is,
so what’s your problem? – [Andrei] Okay. – You have a conversion that
works, so then, are you, how much are you spending per a day? – [Andrei] 25, I just raised it from 15. – 50, to 15, – [Andrei] 15, it was
one five now it’s 25. – 25. – [Andrei] So I’m just experimenting. – Okay, but the numbers is
looking very good though, right? So then, the issue is, it’s just how much
traffic you want to buy. You don’t need, I mean, are you maximizing the
traffic your already buying? – [Andrei] Okay. – [Audience member] Prove your conversion. – No the conversion I think is fine. I mean, these are phenomenal numbers. Just think about it, right. I think, just this. Now you’re doing pay per Adwords? – [Andrei] Yup. – Are you doing Facebook? – No.
– Facebook is a bit cheaper, done properly. So you might be able to get
your cost per sale even lower. Also it’s good to diversity,
not just add words. Let’s say Facebook. Right, I would also test LinkedIn, you can also advertise on LinkedIn. Cost more money, but the
lead quality is higher. – [Andrei] Yup. Just those three, fuck everything else. You don’t need anything else. You could do the video,
but this is what is gonna, video is good, some SEO, you
get some sales here and there, but we know that I put in a
100 bucks its like a machine, I put in a 100 bucks
this is gonna come out. Maybe, if you do Facebook
advertising, I put in, I don’t know 80 bucks
and this would come out. Then just, you just keep investing, and then you scale everything else. That’s just the only thing,
you don’t need anything else. Does that make sense? – [Andrei] Yeah. – Yeah, you don’t need anything else. Round of applause.
– Thank you. (clapping) – That’s how I grow, it’s very simple. Every business, look at cost
per lead, cost per sale, cost per click, where
can I buy the traffic, have a conversion process that works, and it just buys as
much traffic as I could, and some of you are
just: “but oh, but Dan, “I don’t have enough
money, maybe to buy this.” I’ve done deals where I
don’t the money to grow it, but I could take this
to an investor and say: “You know what, if you
will loan me the money, “here’s my matrix.” Right? And then you work some kind of deal where, I can show you it works. If you loan me X amount of dollars, I’m gonna pay you back
in interest, or whatever. That’s kinda, that financing. And that’s okay. Right? – [Guy] This serves as a track record. – Yeah. – ‘Cause I’m not giving him equity. I don’t want to give him equity, but I say: “You know what? “This works.” Better than opening a restaurant. (laughs) Right? So I say, this works,
every 100 bucks, I just, I want to grow this to
X amount of dollars, and it gives them a good interest rate, I just need your money
for short term loan, maybe 30, 60, 90, days. That’s all you need to do. Right, and that’s okay, but I won’t give them equity
or anything like that. That would work, yeah. – [Narrator] 10 times your finances, 10 times your business, 10 times your marketing, 10 times your life. Hit the subscribe button now.

You May Also Like

About the Author: Oren Garnes

12 Comments

  1. Great stuff, Dan,
    e-commerce made clear in a non-technical but financial approach. all without wasting viewers time. Thank you!

  2. Trademark Factory, what an amazing idea. I'll definitely go to them once I need something trademarked 🙂

  3. Hi Dan, i know you're busy, but i only need 2 minutes of your time to read my question 🙂 . and hope you could answer it. how what would you do differently in highly saturated market to survive ? I sell backpack online, other people can easily copy it and sell it in the lower prices. All this time my sales are generated mostly with low profit margin but higher sales volume, specially online where people could easily compare prices. I am having a hard time to compete with the market these days because it is now widespread, everybody sells backpack, competing with prices. I have been looking into making higher quality product, but for some reason it's really hard to sell because that way i need to charge more. higher prices for customer, they won't buy it, they rather buy cheaper with lower quality. just so you know, my market is in indonesia, where most people are coming from lower-middle class. what would you suggest me to do it differently to boost my sales?

Leave a Reply

Your email address will not be published. Required fields are marked *