Hey, I can't believe it's Friday already. I'm hoping you've had a week filled with progress.
Here are 5 golden nuggets I've found that might inspire your efforts next week...
1. FBM EXPERT TIP:
I was speaking with Eduardo Beltran yesterday as part of an event he's featured in. He has several very successful businesses, so I asked, of all the funnels available, what is the #1 funnel he recommends for fast success. This is what he said:
"If I had to pick any funnel to build a business, it would be the webinar funnel. Webinar funnels are like my first love. I ran webinars to sell my first-ever high-ticket product, and it was a success immediately.
"People don't realise webinars have such a wide margin for error. If you're selling a high-ticket product, you can have a not-so-good presentation, a bad offer, and a half-done product and still make a big profit!
"It's all because you're interacting with your customers live. Even if your presentation isn't great, they will get a feeling for who you are and how you can help them. They will know, like, and trust you very, very quickly.
"Then, you can use the feedback you get during the webinars to perfect all 3 very quickly. Plus, you learn a lot about your customers, what products to create, and what messaging works best, and you're paid to do it. It is a win-win."
It makes sense...
If you're looking to dive into the world of webinar funnels and want an experienced expert to guide you through them, Eduardo is looking to build his reviews on the marketplace, so is offering 20-minute consultations for just $5!
Click here, schedule yourself a session, and get the guidance of someone who knows exactly what to do to make webinars work.
2. MARKETING TIP/ORIGIN STORY OF THE WEEK:
It is very easy to doubt your ability to build a truly successful business. I'm hoping this origin story will motivate you and also give you some marketing ideas...
Born on March 30, 1926, Ingvar Kamprad grew up during the depression in a rural part of Sweden.
To help his family pay the bills, he rode his mother's bicycle from farm to farm in his local community selling useful household goods like matches, picture frames, and garden seeds.
He called his little business Ingvar Kamprad, Elmtaryd (the farm he grew up on), Agunnaryd (the nearby village). Or as it's most commonly known today, IKEA.
Rather than sell whatever random items he could find, he sold things he knew people needed but couldn't easily get. His method was simple. He would have his aunt buy items in bulk from Stockholm, then split them up and sell them in smaller quantities. This allowed him to charge low prices while giving him a small profit.
He then saved as much of his profit as he could in order to reinvest in bigger and better products. The area he grew up in was heavily forested and had several furniture manufacturers. So, in 1948, Ingvar decided he would use some of the money he saved to try selling furniture.
His idea was to become the middle man, selling furniture directly from the manufacturer to the buyer. His story from there is simply one of solving problems to make the experience better for his customers...
He couldn't reach many customers on his bike, so in 1951 he started sending catalogues.
Delivering furniture was expensive, and it often arrived damaged, so in 1953, Ingvar decided to switch to flatpack furniture.
Customers were wary that supposedly high-quality products could be sold for such a low price, so in 1958 he opened a store where people could visit and see the items first-hand.
In 1960, he realized people often left the store at lunchtime to eat in one of the restaurants nearby. This interrupted the buying process, so he added fully equipped kitchens to his stores.
One small adjustment at a time, IKEA developed from one kid on a bicycle to a brand people all over the world know and love.
You're on that exact same journey.
All you have to do is pick an underperforming area of your business, make an adjustment, and keep doing this until your business develops into what you want it to be.
3. TOP TIP FROM A FELLOW COMMUNITY MEMBER:
Another powerful tip from community member Alex this week:
"If you want to build a product, look at yourself and how you use similar products. This will 20x your results.
For example, 95% of the time, when you use an app, you really only use 1 or 2 features. That's it.
Yet when most build apps, they add TONS of features and are always chasing what competitors add.
The true trick is learning the 1 or 2 things your customer uses. If you keep these amazing and best-in-class... Even if they complain or ask for more... they will never leave.
Even if your competitors ad 20 new things. Even if people say you suck because you don't have x, y, z... They will still keep paying.
Look at all the software you have ever used and then stopped using. It's likely because the core reason you used it became difficult or outdated.... while they added TONS of other stuff.
Look at GotoWebinar/GotoMeeting or ScheduleOnce. They literally had the ENTIRE market and lost it all because they let the ONE thing people use them for (webinars/calls/booking calls) get outdated or to messy to use.
Then look at Zoom/Calendly. They do the EXACT same thing, but 1000x easier. They also dont have much else going on. They just work on that one thing.
Focus on your one or two things outside of everything else over and over and over. Because if you don't have that LOCKED DOWN, you have nothing.
I never even push any other button in the Uber app than the book ride button. They could work on nothing else except that experience and keep my business.
In short, look at your product. Most of the time, you can reduce the entire focus to 1 or 2 things and do MUCH better."
4. FUNNEL OF THE WEEK:
I'm a big fan of simple funnels, but I think you will be surprised by how simple this week's funnel is!
I was chatting with Othman at FHL last year, and he told me this funnel is doing very well. He's considering updating it but, at the same time, doesn't want to change something that isn't broken.
I figured I would show this to you and get your thoughts...
Take a look and let me know what, if anything, you would test for version 2 of the funnel - here's the funnel.
5. FOOD FOR THOUGHT:
"Why are beautiful products only made for a few buyers? It must be possible to offer good design and function at low prices."
— Ingvar Kamprad
If you ask the right questions in your business, you will find the right answers, and create the right solutions.
I believe in you!
Lee
What is a small adjustment
you can make in your
business next week?