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Podcast title ProfitLayer
Website URL https://www.profitlayer.com
Description The ProfitLayer Podcast is focused on breaking down both the business and marketing layers that are needed to have a successful and profitable business in the real-world.
Updated Fri, 13 Sep 2019 14:47:42 +0000
Image ProfitLayer
Category Business
Technology
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Episodes

1. EP22: Maximum Achievability and Maximum Maintainability
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Description:

On this episode, Nic Peterson shares a simple but profound and often overlooked concept that should absolutely be applied to your life and business.

"The number one thing that all repeat achievers and high impact business owners understand:

Your maximum achievability is not your maximum maintainability.

The greats optimize for the latter." - Nic Peterson

 

Work with ProfitLayer:

To learn more about working with ProfitLayer or Timothy Dick as a private client, visit ProfitLayer.com.

If you enjoy the ProfitLayer podcast or got value from this episode, please take time to leave a review on iTunes or your listening platform of choice.   It would mean the world to us!


Resources:

MasteryMode:  https://masterymode.com

Velocity Method Course:  https://unicorncourse.com/

ProfitLayer Group:  https://www.profitlayer.com/group

 



2. EP21: Social Proof and Testimonial Sequencing
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Description:

Testimonials, reviews and social proof are very important. 

On this episode, we talk about the importance of sequence and collecting testimonials for the entire user journey and not just from clients at their finish line.   

We learned about this from Justin and Michelle Demers of SocialProofClub and encourage everyone to join Justin live for free training on this in our group each week and to check out the SocialProofClub course.

Work with ProfitLayer:

To learn more about working with ProfitLayer or Timothy Dick as a private client, visit ProfitLayer.com.

If you enjoy the ProfitLayer podcast or got value from this episode, please take time to leave a review on iTunes or your listening platform of choice.   It would mean the world to us!


Resources:

SocialProofClub - https://www.socialproofclub.com

ProfitLayer Group:  https://www.profitlayer.com/group

 



3. EP20: The Power and Importance of Messaging
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Description:

Messaging expert Sani Nielsen talks with Tim about the power and importance of messaging.

“All marketing is messaging, but not all messaging is marketing.”

Sani Nielsen (5:32-5:36)


Learn More

Learn more about Sani at http://www.saninielsen.com or find her in our free Facebook group every Monday for ProfitLayer's Messaging Mondays at https://profitlayer.com/group


If you would like more information about Timothy Dick or ProfitLayer, visit https://www.ProfitLayer.com.

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Messaging Course

Sani just released an amazing new digital course called Minimize the Message Gap and is offering all ProfitLayer listeners a $50 discount.

For all ProfitLayer listeners, Sani is giving us a special discount code for anyone who wants to jump in and learn how to identify and extract your ideal client’s own words to use in your messaging.

Enter the discount code: PROFITLAYER for $50 off the regular price! https://saninielsen.com/MinimizeTheGap

Learn how to increase your message “connection” and “impact” by identifying and using your ideal client's OWN WORDS.

This program is six video modules and worksheets to help you identify who you want to serve, how you want to serve them, and where to go to find and extract the EXACT words they use to describe their problems, pain points, and the emotions involved at each stage of the client journey.

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If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!



4. EP19: Two Types of People
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Description:

“A business needs two types of people to achieve a mass scale without everything going all crazy - the starter and the scaler.”

Timothy Dick (00:55-1:20)


There are two archetypes necessary to scale a business to a high seven or eight figures. While it’s possible to build a business to a certain point with only one type - whether that’s one person or multiple people of one type - to achieve mass scale without the overwhelm and headache, a business needs both types.

Type One: The Starter 

Most entrepreneurs and visionaries are Starters who have created things that never existed before. Starters do a lot of “ready, fire, aim.” They’re involved in market sell. They test, test, test. 

But after a while, entropy sets in. While testing and trying a million new things, a Starter can be in danger of losing control on the backend of the business.

Type Two: The Scaler

A Scaler (or Operator ) is typically either a CEO or COO who manhandles the day-to-day operations of the business. Because they’re addressing the nitty-gritty details on a daily basis, they’re able to make tiny little tweaks that move the business forward.


“The Scaler has the ability to just make a little tweak and make end-over-end growth. But they need the momentum that the Starter is creating.”  -Nic Peterson (3:11-3:21)

The Benefits of Having Both Types

When an entrepreneur who is a Starter wants to double their business, they have to create twice as much stuff and do double the work

On the other hand, while a Scaler has the ability to make one little tweak and create end-over-end growth, they lack the momentum that the Starter creates.

I’ve gone it alone multiple times. I’ve had five companies that reached high six or seven figures. But I eventually wanted to burn them all down because I was trying to play both roles and hated doing the things that a Scaler does. 

After accepting my position as a Starter and operating only in that role while my business partner operates as a Scaler, I now love what I do. Our business and revenue grew, my responsibilities decreased, the headaches left, and I sleep better. 

It’s the best decision I’ve ever made to just play the role of a Starter and allow someone else to be the Scaler. 


“I could be a Scaler. I have the ability to learn that. But it would come at the expense of my strength.”  - Nic Peterson (3:34-3:41)

Know Which You Are

The best thing you can do right now is to determine if you are a Starter or a Scaler. Which one is your strength? If you’ve started your own business, it doesn’t necessarily mean that you’re a Starter. You could potentially be an Operator/Scaler. 

Do you like to ready, fire, aim? Do you like to create and test stuff? Then you might be a Starter. 

Or do you prefer maintaining a slow, methodical control of the business as you grow it bigger? If so, there’s a good chance you're a Scaler. 

Determine which is your strength and then start building around that.

You Don’t Have to Have a Partner

While it’s necessary that you have both of these archetypes in your business, you don’t have to have a partner. If you’re a Starter, you could hire a COO. That’s exactly what ProfitLayer does for people. We act as the Scaler role. Or, for those who are already Operators, we can act as the Starter role. 

If you’d like to learn more about this, join our free group, or if you’d like to talk to Nic directly, you can schedule a free call here or here.


If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!



5. EP18: Your Marketing Budget
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Description:

“You can't scale your winning ad campaign in a linear straight line. You have to be methodical about it.”

Timothy Dick (9:51-10:00)


Managing your marketing budget is essential to getting the most out of your campaigns and remaining profitable along the way. The algorithms used by Google, Facebook, and other platforms give today’s businesses the power to reach their target audiences and convert them into paying customers. 

But these algorithms are complex, and there’s a common mistake that businesses make when their ads are doing well. Thinking you can scale your marketing in a linear fashion can cause you to lose money and get worse results from the same campaign. 


“Facebook, Google, and other platforms have complex algorithms behind them. There are many variables that go into how your ad is shown, the cost per click, and who sees it.” - Timothy Dick (0:53-1:21)

There are many variables that determine how your ads are shown. A Facebook pixel can have more than 150,000 variables that have to be analyzed to determine who sees your ad and who doesn’t. Increasing your budget doesn't necessarily mean your returns will scale proportionately. These algorithms ensure that your best ads are shown to online users who are interested in your product or service. This makes your marketing messages relevant to users and maximizes the return you get on your ad spending.

The Biggest Mistake Businesses Are Making With Their Marketing Budget

But most business owners make the mistake of thinking they can scale their advertising in a linear way. If a business is getting $11 back on every $1 they spend, they assume that spending ten times that much will yield ten times the return. But it doesn’t work that way. Algorithms take time to learn how to present your ads in the most profitable ways. The results you get from an ad are specific to that campaign. Throwing more money into it won’t necessarily mean you get the same results. In fact, it can reset the algorithm in a way that forces it to re-learn how to achieve results with new parameters. 

These algorithms typically search for the lowest hanging fruit based on your budget and target market. That’s why a successful campaign may slow down or stop producing the same results over time, even when you don’t change anything.  It becomes more expensive and less effective. Making a drastic change to the budget gives the algorithm more money to work with. But it will look at more variables and different combinations, which can confuse the algorithm and hurt your results. More importantly, you may not be able to scale back and get the same results you once were when you started. 

The Right Way to Scale Your Marketing

So rather than increase the size of a campaign’s budget, you can get better results by creating multiple campaigns and leaving the existing one alone. You can duplicate your campaign based on the results you’ve achieved and create a new budget. This process is repeatable and more likely to deliver consistent results. You leverage what the algorithm has already learned, and you can incrementally increase your budget to scale results. Increasing the size of your original campaign can force the algorithm to go from looking for something that’s one out of 500 to something that’s one out of 10,000. That’s going to be a lot harder to do compared to looking for a one in 500 across multiple campaigns. 


“Advertising algorithms are really good for maximizing your return. But you have to know how to work with the algorithms and give them time to do what they need to do.” - Timothy Dick (1:47-2:20)

Knowing how to scale your marketing campaigns helps you achieve consistent and predictable results. Trying to scale linearly is one of the biggest mistakes you can make. When you understand the variables involved in how algorithms work, you can see that it pays off to duplicate your campaigns and scale incrementally rather than just multiply the size of your original campaign. Taking a methodical approach like this will keep your campaigns profitable and grow your business faster. 


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!



6. EP17: The Trichotomy of Returns with Nic Peterson
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Description:

“One of the keys to becoming wildly more productive is understanding the concept of the trichotomy of returns.”

Nic Peterson (2:49 - 2:54)

Learn to be efficient with your resources as your business grows.


When your business starts growing, your decisions become more critical. Ideally, you want to minimize your input for a specific return. To make decisions that enable you to maximize your output, you need to grasp the concept of the Trichotomy of Returns.

“When making a decision, you have to decide if the expected return is worth your time, and how it affects your business overall.” 

- Nic Peterson (5:53 - 5:59)

Everything you do should go into three different buckets, depending on the return you’re expecting, and the amount of work or resources you think it will entail. 

The three buckets in the Trichotomy of Returns.

Disproportionate Returns - The things you do where the returns aren’t proportionate to the resources. The output can be either favorable or unfavorable. Maybe you put in twice the work and get four times the returns. Or you could 10x your investment and only get marginal benefits.

An example of a favorable return is working overtime beyond a certain point. Your hourly return is disproportionately higher when compared to your benefit each regular hour. 

Proportionate Returns - This is where your results scale proportionately according to the effort or investment you put in. A good example is the case of an hourly employee. If you work double the hours, you’ll make twice the money (barring any overtime, of course). 

Proportionate returns rarely happen in business. If you double your ad spend, very seldom will your revenue double precisely. 

Binary Returns - This one is simple. You either get a result, or you don’t. It’s like a light switch. If you switch it on, you’ll have light. If you hit the switch harder, you’re not going to have more light. It becomes problematic in business when the switch is already on, but we keep pushing harder because we aren’t getting more in return. This is typically also where we have the most room to save time money and energy.

“The concept of trichotomy of returns is really something to think about because if you put it into practice and apply it to your decisions, you really are going to be a lot more productive.” - Timothy Dick (7:52 - 8:06)

If you can learn to discern between which bucket your decision falls into, you’re going to become a lot more productive. Remember, unfavorable returns are still returns, and it’s your job to decide if those results are the best use of your resources.

How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!



7. EP16: Exclusions and Negative Targeting
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Description:

“We talk so much about targeting what you want. But you need to go a little further and add a layer of  what you don’t want or doesn’t make sense.”

Timothy Dick (11:51-12:10)

Exclusion and negative targeting are strategies that business owners often overlook when trying to grow and scale. But they can influence the results you achieve on any online ad platform you’re using to get the highest return on your ad spending.

It takes time to figure out who you want to target with their messages with any advertising network or campaign. Targeting lets you determine who will see your ad and where you want them to appear. Common strategies include the use of customer lists and lookalike audiences.


“You don’t want video ads showing up in gaming apps. You’re interrupting someone, and the odds of them looking at your offer is very low.” - Timothy Dick (3:23-3:51)

Traditional targeting strategies can give businesses the results they need. But marketers may find that the costs of their ad campaigns are still too high. Exclusions and negative targeting can help trim the fat off your ad spending. Best of all, these features exist on almost all of the major ad networks available today.

Facebook lookalike campaigns let you create groups that are similar to an existing group you’ve marketed to in the past. But you can use this same feature to create a group of non-buyers that you negatively target. This essentially tells Facebook, “Don’t show my ads to this group.”

Being more specific in your targeting can allow you to exclude certain users based on factors such as:

Apps Category Age group Genres Desktop vs. Mobile Devices Wi-Fi vs. Cellular Connection

Ads that appear in gaming apps interrupt players, making it less likely that they’ll stop to look at your offer. For brick and mortar businesses, displaying ads in locations that aren’t relative to their target audience results in advertising to a larger audience than they can serve.

Combine Targeting With Negative Targeting and Exclusion

The best approach to combining both targeting and negative targeting is to target people in your area while also adding a negative targeting function that excludes users in other locations. Negative targeting prevents a user who lives in your target area from seeing your ad if they’re somewhere else. It doesn’t make sense for them to see your ad when they’re not in the location where they can take action.  


“Excluding the opposite of the audience you want enhances your targeting results.” - Timothy Dick (8:17-8:24)

Most of the ad networks can display your ad in as many places that meet the criteria you’ve given them. But many default to including your ad in campaigns that reach people outside of those you want to target. It’s up to marketers to understand when those defaults are in place so they can disable them.

Context Matters in Online Advertising and Targeting

Online users are in different states of mind depending on the platform they’re on. Instagram and Facebook users may be standing in line somewhere scrolling through their feeds. Someone searching on Google may be actively looking for a product or service like yours, so they’re more likely to learn about your offer.

Exclusion and negative targeting work best when you understand the context of the ad networks you choose and identify who you want to see your ads and who you should leave out.

When you optimize your advertising and exclude specific targets, you prevent unnecessary wasting of limited advertising dollars. Negative targeting and exclusion strategies trim the fat off your marketing campaigns. Your marketing becomes more efficient, cost-effective, and reliable, leading to consistent results that grow your business.  


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!



8. EP15: Mental Health in Business
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Description:

“Mindset and mental health are key layers in business. If your mind isn’t in the right place, and you’re not able to work through the issues that come up, it’s going to affect your business.”

Timothy Dick (3:15-3:45)

Mental health challenges can range from mild bouts of stress to crippling anxiety or depression. These and other mental health challenges affect people from all walks of life, educational backgrounds, and levels of success.


“No matter how successful the business is, you can still run into issues if you don’t watch out for the signs of burnout.” - Timothy Dick (6:02-6:38)

A growing number of entrepreneurs are opening up about the struggles they've had related to mental health. No matter how successful their businesses may be or how many resources they have available, they suffer the same problems everyone else faces. That's why it's important to look out for signs of burnout or destructive thinking.


Getting Help With the Ups and Downs of Business

There's a belief that if you're not "grinding" and "hustling" 24 hours a day and giving 150% then you're not doing it right. But this belief is just plain wrong, and entrepreneurs are becoming more aware of their own mental wellbeing and the need to care for others around them.

Entrepreneurs don't always take advantage of the support they have available to them. It can be lonely at the top, and if you're struggling with burnout, depression, anxiety, ADHD, or substance abuse, then you need to get help. The people in your life will respect the fact that you're getting the help you need.


“Anyone handling many things will deal with mental fatigue and use a lot of mental and cognitive energy. It’s okay to get help.”

- Timothy Dick (40:40-41:08)

Entrepreneurs at Risk for Mental Health Challenges

Entrepreneurs face unique pressures that can contribute to mental health challenges. Stress levels are high, and business owners can struggle to unplug and disconnect from work when they should.

It's estimated that 72% of entrepreneurs are affected by mental health issues. National health statistics show that these individuals are:

2x more likely to have depression 6x more likely to have ADHD 3x more likely to struggle with substance abuse 10x more likely to have bipolar disorder 2x more likely have some psychiatric hospitalization in their lifetime 2x more likely to have suicidal thoughts in their lifetime

Today’s entrepreneurs are managing information and people, planning business strategies, and other cognitive-heavy mental labor. The physical health risks of the past may be lower, but new mental health risks are on the rise.

Giving Yourself and Others Mental Health Support

Mental health awareness can lead to a healthy environment at work and at home. Reach out to a mental health professional if you think it can be helpful. Some mental health challenges can be easily addressed, but others may require more extensive support.

The following are some valuable resources that can help entrepreneurs overcome and prevent mental health challenges:

Free Entrepreneur Group MindFix - Erin Pheil Malorie Nicole ClearMind Group ClearMind Free Challenge ClearMind Course

Everyone gets overwhelmed in business. But surrounding yourself with the right people and resources will support your goals and position you for lasting success in everything you do.


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!



9. EP14: What is Broken in My Business?
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“Sometimes things do work and we still say they don’t work. We need to identify what ‘working’ is.”

Nic Peterson (1:28-1:36)


There’s a big trap that many entrepreneurs fall into. They could be bringing in millions of dollars in revenue while wasting countless hours, money, and energy trying to fix things that are “broken” in their business.  

But what they think is broken, may not actually be broken. The same is true for entrepreneurs who are just starting out, which keeps them from gaining the traction and growth they need.

We need to identify what “working” really looks like. How is it that a business owner bringing in a 5x return can still feel like things aren’t working for them? One of the biggest reasons could be that they’re trying to run someone else’s race. They look at other entrepreneurs who have podcasts, YouTube channels, and other business assets and think they should have all those things, too.


“Just because somebody else has something you don’t… does not mean things are broken.” - Nic Peterson (2:52-3:00)


But you can’t compare your business (or yourself) to others. Your business isn’t broken just because someone else has what you don’t. Yet, many entrepreneurs try to solve problems that don’t actually exist. This is common among Type-A entrepreneurs and anyone with a tendency to always operate in problem-solving mode.

Step 1: Is there even a problem?

The first thing you need to do is explore whether you have broken components in your business. Acknowledge those things that ARE working in case you’re looking at them as if they’re not.

“When something is broken, make sure it’s broken first and then fix it.”

- Nic Peterson (4:55-5:00)


Step 2: What is the problem?

The problem of not having what someone else has might be a sign of a more fundamental issue. Maybe you’re not able to fulfill your promises at scale. Maybe you don’t have the assets that others do because you don’t have the capacity for them yet.

Once you decide if you have a problem and you identify what the problem is, you can remove the limiting factor and eliminate that problem. You can then identify the next limiting factor and remove that. This process keeps you from getting stuck on the hamster wheel of solving problems that aren’t there. Taking the time to ask, “Is it broken?” forces you to see what really is broken so you can then solve it.


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

You can learn more about Nic and the strategies he uses to grow and scale businesses by visiting VelocityClass.com or book a call at VelocityCall.com.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!



10. EP13: Why Systematizing Usually Fails
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Description:

“When you have momentum and your business is growing, stopping everything to build systems for things that don’t matter right now is the worst thing to do.”

Nic Peterson (2:56-3:10)

Building systems into your business saves you time and money. Systems let you automate repeated tasks at every stage of your sales process, which makes your daily operations more efficient and improves the experience of customers.

But systematizing can hurt businesses when it’s done the wrong way. Most businesses focus on a “market then sell” approach that generates the revenue they’re after but leaves them overwhelmed when it’s time to fulfill those sales. So they try to build systems that alleviate the pain of fulfillment but end up wasting time, money, and other limited resources.


“Systemize things. But do it in the right order because you have a finite amount of time, energy, and bandwidth.” - Nic Peterson (6:02-6:08)

Most of the people who teach business owners how to systematize their operations have never actually grown a business themselves. So they either focus too much on systems or on marketing instead of understanding how the two work together.

This has created two flawed business approaches.

Market and sell, only to drown in the fulfillment process and piss off your customers when you don’t deliver. Create systems for problems that don’t exist yet and kill your growth momentum in the process.


There’s a Better Way to Scale Your Business

Entrepreneurs work hard to establish and build momentum. But when you stop everything to create systems for things that aren’t important right now, you pull yourself away from the things that actually lead to growth and increased revenue. Once you lose momentum, you’re dead in the water.

There’s a better way to scale your business. Sit down and identify the limiting factors that are slowing down growth. Maybe your onboarding process takes too long, preventing you from selling more. Whatever the limiting factor is, that’s where you should spend your time as an organization. Address the problem by systematizing and optimizing a solution so you never have to address it again.


“Build systems and operations for everything at the right time so you always have momentum. You grow by building systems as you remove the limiting factors.” - Nic Peterson (5:06-5:31)

Find the next limiting factor to growth. Focus on that and do the same. This approach lets you build systems and operating procedures for the things that impact your growth without losing momentum. Your business grows as you develop its systems rather than repeatedly stopping your growth.

Creating systems in order of importance makes more sense than trying to systematize everything. It doesn’t work to create and learn a new system when you can’t use it for another five years. Instead, you could be learning exactly what you need to grow your business right now, setting criteria for completion, and building systems that free up your resources.

In the end, you’ll still have the systems and operating procedures for everything you need without slowing down or stopping momentum. Remember, momentum is everything. Focus on growth, and the systems will follow.


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!

To learn more about Nic, visit VelocityClass.com or book a call at VelocityCall.com.



11. EP12: Complete Criteria
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Description:

“It can often seem like your team is lazy and doing the minimum amount of work. But the fact is, you’re not setting complete criteria.”

Nic Peterson (1:14-1:26)

 

How do you know when a task is truly complete? Businesses grow and scale when they apply one key concept that most organizations miss. Understanding “complete criteria” can save your business hundreds of thousands of dollars. It eliminates the waste of time that occurs when your organization doesn’t know what “done” actually means.

 

Parents tell their children to clean their rooms. But “clean” means different things to different people. This results in conflict, delays, and frustration. The same thing applies to your business. You might tell a team member to create a sales funnel or make calls to prospects. They do the task, but you come back to find it’s not complete according to your criteria.


“Alignment happens when complete criteria have been identified, and everyone knows when the task is complete.” - Nic Peterson (1:40-1:49)

Business owners often think employees are being lazy or just not doing complete work. But the real problem is that you’re not setting complete criteria. You have to align the entire team so everyone understands and meets the criteria for completion.

 

This keeps you from having to do the same things over again, which wastes time and money. It lets you know when tasks are done so you take the next step in the process. Setting complete criteria means doing the task and then having everyone agree on what “complete” looks like.


Complete Criteria Maximizes Profit in Your Business

The few minutes it takes to establish complete criteria throughout your organization can save you time and thousands of dollars. You streamline your workflow when everyone knows they can do X only after Y is complete.

 

A sales funnel isn’t complete if you leave out automations, split testing, and other important elements. Losing a week to go back and make corrections is costly when you’re spending large sums of money on driving traffic each week.


“Some tasks might be two tasks. But you only know it when you establish complete criteria and a date of completion.” - Nic Peterson (4:16-4:25)

Creating complete criteria means establishing a completion date. This allows you to start making the right decisions at the right times to avoid costly delays.

 

“This is complete when…” should be the foundation of taking on or assigning any task within your organization. When you create complete criteria, you maximize profits while eliminating the delays that hold businesses back. You gain a leading edge over your competitors and put your business on the path to consistent growth for the future.


How to get involved
If you want to learn more about Nic Peterson and the strategies that help you grow and scale your business, visit www.velocityclass.com.

 

If you would like more information about Timothy Dick, and the success businesses have gained through work with him, visit his website.  


 



12. EP11: Prevent Business Failure
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Description:

“We assume that regular functioning at regular times is enough to scale. But it’s not.”

Nic Peterson (5:40-5:46)

When it comes to failure, entrepreneurs need to understand the complexities involved in growing and scaling their businesses. Your business can achieve a 5X return on investment (ROI) and still be running out of money. This keeps business owners running on a hamster wheel that never gets them where they want to be.

Businesses are complex systems, and thinking the results you achieve are linear is one of the biggest mistakes you can make. If you double the stimulus, you won’t necessarily double the response. Think of a busy highway. Increasing the number of cars by 10 percent might increase the time it takes to get to your destination by 60 percent or more.


“A non-linear response means if you double the stimulus...you’re not necessarily going to get double the response.” - Nic Peterson (1:38-1:47)

You can’t rely on a linear model when scaling your business. Things happen in business that make linear growth nearly impossible. Your marketing costs may go up or your market might become saturated. So doubling your marketing spending won’t mean that your profit doubles, too. Responses aren’t linear, and averages don’t matter as much as you think they do.


Use Science of Hindsight to Prevent Business Failure

Any errors in your business will only increase the time it takes to achieve a result. It will never cause you to get there faster. So entrepreneurs need to pay attention to what actually happens instead of relying on their assumptions. This is where the science of hindsight comes in. You need to measure, manage, and adjust when scaling your business. Hindsight lets you understand the responses more clearly.

One of the biggest mistakes entrepreneurs make is assuming that normal function is enough to scale. But it only takes one error to show you how wrong that assumption can be. You can build a larger movie theater that fits more and more people. But if the size of the exit door stays the same, all it takes is for one person to yell, “Fire!” for you to see that it’s not equipped to serve all those people. So, as your business grows, you need to grow its “doors” before you encounter any of the endless issues that can catch you by surprise.

“Errors can only increase a length in time. Errors will never cause you to arrive early.” - Nic Peterson (3:21-3:38)


Don’t Just Optimize for the Good Times

It’s easy to optimize based on the good times when everything is efficient and working smoothly. But when Facebook goes down or YouTube bans your ad account, you have to look at what happened so you can take the right steps to protect your revenue, scale your business for the long term, and achieve a positive ROI.

Today’s entrepreneurs need to make business decisions that account for the asymmetry of errors and non-linear responses. When you understand this hard truth, you develop a profitable growth model that helps you get the returns you need to achieve lasting success.

How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!









13. EP10: Facebook and Retargeting with Seth Pennington and Glen Hoddinott
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“Organic and paid marketing are exactly the same. You pay for organic with time, and paid with money.”

- Glen Hoddinott (39:25-39:30)

When organic marketing isn’t enough, marketers look to paid ads on Google, Facebook, and other platforms. Facebook marketing is still one of the most effective ways for businesses to share their messages with their audiences. Retargeting strategies make it easy for you to reach more of the right customers with the right messages at the right times.

Seth Pennington and Glen Hoddinott are two of the top media buyers at ProfitLayer with years of experience managing large marketing campaigns. Their success comes from understanding the importance of diversity in marketing. In order to succeed, businesses need to expand their marketing and find other profitable channels both online and offline.


“Initial cold marketing convinces the audience that your product works. Retargeting tells them why it will work for them, while building trust to close the deal.” - Seth Pennington (27:18-27:36)

Retargeting lets you appear in front of users who have seen your ads and visited your website and other marketing assets. It’s now extremely affordable to keep your business in front of people when you know how to implement retargeting campaigns.


Retargeting Lets You Identify the Most Profitable Target Audiences

There are too many factors that influence your audience’s response. Assuming that an ad or sales funnel has failed might cause you to pull the plug too early. Retargeting solves this problem by letting you appear in front of users who have seen you and are interested in your business. Many business owners run expensive cold traffic ads on Facebook for years before they set up a retargeting campaign. They think retargeting is too complicated. But in fact, you can get started by dropping a pixel on all of your online assets to help measure your Facebook ads and identify your target audience.

Using the Facebook Ads Manager, you can market to anyone who’s visited your online assets. There’s no need for advanced segmentation. The goal is to remind people who have already seen you that you’re still there. You don’t need to allocate a large portion of your marketing budget either.


“You can make a living on organic traffic. But when you start to value your time more than your money, you want to already be set up to pay for advertising.” - Nic Peterson (40:15-40:30)

Seth and Glen recommend starting with 10% of what you’re already spending on all your traffic. You’ll need to analyze and adjust the frequency of your marketing for the best results. Facebook assigns a quality score to every Facebook page and ad account. High-frequency marketing may annoy users, causing Facebook to give you a low quality score. This could cost you more to advertise in the future. Keeping your quality score high is essential to long-term retargeting success.

You’ll need to determine what messages to send to your audience. If a user has already seen your offer, then case studies and testimonials may be the most effective tools for moving them further into your sales process. If they’ve not seen the offer, then use your best performing ad. So understanding who you’re reaching is essential to getting the best results from your Facebook and retargeting strategies.

Retargeting is one of the most effective ways to reach a larger audience and gain a leading edge over your competitors. It lets you address an individual’s pain points at each point in the process. You let them know why your product or service will work for them while building greater trust in your business.

Today’s marketer needs to understand paid advertising long before they get to the point where they need it. Most people focus on organic marketing because it’s less costly. But organic and paid marketing each have a price. With paid marketing, the cost is money. But with organic you pay with your time. The successful entrepreneur is one who gets to a place where they value their time more than their money. Paid Facebook advertising and retargeting leverages the behaviors of your audience so you achieve maximum and predictable results at lower costs for higher profits.


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.



14. EP9: Forcing Business Growth
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“Growth is a process of eliminating the friction and limits. It’s not about forcing the thing you’re already doing.”

- Nic Peterson (7:56-8:06)

Timothy Dick

Profit Layer

There are countless tools and tactics that business owners can use to build their clients, market their businesses, and generate more revenue. But service providers can struggle to grow their businesses, often trying to force their growth.

If you’re a service provider, be careful with trying to force growth. There are certain skills required to grow a service-based business that are different from those used to scale a company. Growing your business comes down to validating your offer and removing limiting factors. When you know people want what you have, and you provide a great service, you no longer have to force your marketing message down people’s throats. You just have to remove the limits to growth.


“You have to remove friction when scaling a business. You can’t just work harder and harder. It has to get easier and easier to do the same amount of work.” - Nic Peterson (3:03-3:11)

Service providers need to simplify the sales process to avoid the common hurdles that stop them from reaching their goals. Many enjoy rapid growth when first starting their businesses. But they soon hit a ceiling, unable to generate new clients and high-ticket sales. Many turn to paid advertising and running more webinars in an effort to sustain growth. But there’s a different marketing approach that eliminates the hassles of growing a service-based business.

Where are you losing sales?

Where is friction getting in the way of your business growth? Service providers often lose sales at two points within the sales process - the initial sales call and at the end of the client’s program when there’s an opportunity to buy again. Unlike traditional marketers who follow the “market then sell” approach to growing their businesses, service providers may not get the same results from this strategy.

Service-based business owners get better results with a consultative sales process, which starts by providing service and then letting that service make the sale for you. Once you’ve acquired the client, you continue providing service to maintain their business over time. But if you’ve sold a 12-week program, weeks 10 and 11 can feel like a countdown to doomsday. Your client may be dreading what comes next, and you may be dreading having to make another sale. This creates unnecessary friction.


“If you’re a phenomenal service provider, market and sell once. But make it as easy as possible...and then provide service. Your clients will stick around forever.” - Nic Peterson (6:29-6:39)

Stop trying to sell your prospects. Just serve them. They’ll soon ask you how much your services cost. But this approach isn’t what most service-based entrepreneurs are taught. They learn marketing strategies that are better suited for selling products. When you provide service first, you lower the entry point and increase the lifetime value of each client. You leverage your strength for providing high-level service. Your service does the heavy lifting for you.

Achieving lasting growth for your service-based business comes down to marketing and selling your offer once and then letting your service do the rest. The more phenomenal service you deliver, the more likely your clients are to stick around. You eliminate the stress and friction that traditional marketing strategies can create. You're no longer forcing the things you’re already doing. When you lead with service, it’s easy to keep your clients forever.

How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!



15. EP8: Accounting for Entrepreneurs with Dan Nicholson
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“People want to build a balanced life. But you have to deconstruct what that means when you have a business.” - Dan Nicholson (17:05-17:14)

Timothy Dick

Profit Layer


Having the right financial processes in your business is critical to your success. Failing to manage your money impacts your ability to market your business or deliver your services in a way that builds credibility and client loyalty.

Dan Nicholson helps entrepreneurs get clear on their financial goals while helping them optimize the strategies they use to grow their businesses. Dan’s work has taken him to the intersection where money, wisdom, health, and human capital meet. This broader approach to money management is rooted in the idea that money can’t be separated from the other things that contribute to your quality of life.


“Making a profit isn’t necessarily an end goal. At the end of the day, you have to do something with that profit.” - Timothy Dick (15:33-15:41)

Most people put all of their time, energy, and attention into just one area of their life. Entrepreneurs typically focus on revenue goals without first identifying the driving force behind those goals. In most cases, they spend much of their time wondering if they’re going to be financially okay in the long run. By exploring the “why” behind their revenue goals, they find that their motivation actually comes from something bigger. That could be more time for themselves and with their families, creating a legacy, or supporting loved ones.

When you look at profit as the end goal of your business, it’s easy to forget that ultimately you have to do something with the profit you make. Business owners realize that the game they’re playing is much bigger than they once thought. But they haven’t deconstructed what it means to live the life they want.


Getting Clear on Your Profit Priority

Your financial processes will depend on your priorities. How much money do you really need to live the life you want? When do you need to reach that goal? These and other questions help you begin exploring what really matters. You can begin to create timelines for your goals and better determine where your money should be going.

Chasing attention, fame, and other vanity metrics causes entrepreneurs to lose sight of what’s important. They start comparing themselves to others. They achieve a goal only to reposition the goal post and try to achieve more without defining what it is they really want. Instead, consider your own unique situation and establish what your priorities are.


“The essential question everyone is asking themselves is, ‘Am I going to be okay, maintain the lifestyle I want, and achieve my goals?’” - Dan Nicholson (11:41-11:55)

When you identify your true financial goals, you begin to get clear on the priorities and identify any financial issues that could be impacting your ability to achieve lasting success. Business owners can keep more of what they make just by optimizing the system they use and improving their cash flow. They can look at their taxes and asset utilization to reallocate money towards their bigger goals.

Get Guidance for Your Financial Decisions

When you manage your own financial operations, you can determine if you’re going to be okay in the long run, but you still need a partner to hold you accountable. Without ongoing support, most business owners spend their savings. The more they make, the more they’re likely to spend. Having someone alongside you who understands how you do business is essential to reaching your financial goals.

Most business owners resist tax accounting. But you need to make sure you have the right business entity in place to meet your goals. Avoiding your financial wellbeing can get in the way of your ability to take action. Becoming revenue-focused helps you understand how much money you need to cover costs and meet your financial goals.

When you’re clear about why you have your business, it becomes possible to be intentional in everything you do. Optimizing your financial systems gives the structure needed to put your goals into motion. The goals of your business are bigger than profit. When you align your actions with the purpose of your business, you position yourself to achieve new levels of success.


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through working with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!

Learn more about Dan and his work by visiting his website at nthdegreecpas.com.



16. EP7: Social Proof as a System in Your Business With Michelle and Justin Demers
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“Part of your process as a business owner is celebrating your clients.”

- Justin Demers (8:29-8:32)

Timothy Dick

Profit Layer

Social proof is a powerful way to demonstrate the value of your services. Testimonials, reviews, and other forms of social proof give prospective clients the confidence to say “yes” to your offer. But business owners fail to use social proof in a strategic way, so they often struggle to increase revenue and retain clients over time.

Michelle and Justin Demers help entrepreneurs systematize social proof and customize their marketing messages. Businesses typically ask for testimonials after they’ve delivered their services to clients. But this makes the process more transactional and less personal while hurting the relationships you’ve built over months and years.


“Any business can pay for ads. But when you give the voice to the consumer, they become real.” - Timothy Dick (5:09-5:24)

Referrals and testimonials give your marketing messages more power in communicating with your target audience. In today’s online marketplace, consumers turn to review sites to see what others are saying about your product or service. Many business owners collect testimonials and reviews from clients without knowing what to do with them. In order to get the best results from testimonials, identify the stories that drive actions and create meaningful change for them and your business.


Celebrate Your Clients’ Big Wins

Social proof isn’t just about the value you provide. It’s also a way for you and your clients to communicate the transformation they go through as a result of working with you. This occurs along every step of the journey. Don’t wait until the end to ask for a testimonial. Your onboarding process is an opportunity to invite clients to celebrate their wins.

This changes the conversation from “How can I get something?” to “How can I do something for you?” It creates a different perspective through which you and your clients view your relationship. It provides you with ongoing feedback throughout the entire journey, which helps you improve your offer and better meet the needs of your clients.


“Capturing clients’ stories throughout their journey is not only a sales tool… it’s also a belief builder.” - Justin Demers (14:58-15:05)

Prospective clients often struggle to believe they can achieve the same level of success as others. Showing the big wins of your clients over time helps them see it’s possible for them. It motivates your existing clients to finish what they started by giving them the opportunity to celebrate their accomplishments.

Gathering social proof from clients shows them you’re listening. It builds empathy and strengthens your relationships with them. When clients struggle to overcome obstacles, the steps they took to overcome them can be powerful indicators to others who are also struggling.

Systematizing social proof is the key to getting better results with your marketing. When you match the right stories with a prospect’s objections or limiting beliefs, they’re more likely to see the value of your services and how they can help them. Gathering social proof assets gives you a marketing arsenal you can use no matter who you’re trying to reach. It takes effort to gather and organize social proof assets. But with the right data management systems in place, delivering the most relevant social proof can be done in just a few clicks.

Knowing how to use social proof in your marketing shows your target audience that you care about their success. It shows them that you do what you say when so many other businesses fail to deliver on their promises. You attract the right clients to your business and strengthen your position as the first and obvious choice for their needs. If you aren’t utilizing social proof in your current business strategy, it may be time to start strategizing how you can implement this powerful tool. Let the wins you’ve helped others achieve pave the way for greater success with prospective clients.


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website. You can learn how to systemize your social proof at socialproofclub.com.

If you would like to know more about how Justin and the team at Social Proof Club can help you use social proof as a powerful tool for your business, visit their website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!



17. EP6: Mindset and Mental Blocks with Malorie Nicole
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“The mindset layer is one of the most important... At the end of the day, if your mindset isn’t optimized, you can’t provide the best service because you can’t show up in the best way for your business and your clients.”  - Timothy Dick (2:57)

Timothy Dick

Profit Layer

 

Malorie Nicole coaches entrepreneurs to help them remove mindset blocks and turn their stress into profits and fulfillment.  Her clients include agency owners, copywriters, ad specialists, and even other coaches.

Maximize your Business by Minimizing Stress

In our culture today, entrepreneurship has become synonymous with stress. It is accepted that to “make it” as a business owner you’ll have to work extremely hard, sometimes at the expense of your health and relationships. Many entrepreneurs feel guilty if they don’t work as hard as their peers, even if they are getting good results. But is this mindset really productive? Does pushing yourself to the edge ultimately help you create a business that brings you fulfillment, and is it more profitable long-term?

We are continually evolving as entrepreneurs and human beings. We need to periodically assess whether or not our business is moving in a direction that is in alignment with personal growth. Ignoring that aspect of self will eventually lead to burn-out. This is the reason why many entrepreneurs reach a stage where they may have achieved financial success but remain unfulfilled. They may think that they’re depressed, but in reality, they haven’t set clear boundaries with their clients, team members, or even themselves, and they’re just overwhelmed.


“If you have residual stress and you put out thoughts of frustration, doubt, and fear, you won’t attract the things you really want.” - Malorie Nicole (23:59 - 24:22)

Continual stress can result in a negative mindset that is harmful to your business, your health, and overall well-being. Often long-term stress will create an internal narrative that no matter how hard you try, you’ll never be able to live up to your own expectations. Such limiting beliefs will affect business operation and success.


Mindset and Business Performance are Closely Connected

People often dismiss the power of mindset and energy and its responsibility for abundance or lack in a business. It is seen as a non-scientific metaphysical concept, and many assume that success is found in intentional focus on the mechanical aspects of a business like ad campaigns, client retention, etc.

However, energy is all around us. Whether we realize it or not, the vibration that we put out interacts with the universe, and it is responsible for the thoughts, people, and events that we attract into our lives. When you’re stressed, you activate the part of your nervous system that is known as the fight-or-flight mode. In this state, the vibration you put out is coming from a place of frustration and doubt, not from abundance and creativity, and you’ll attract results accordingly. Your mindset has a direct effect on how you perform as an entrepreneur, how you serve your clients, and ultimately your profitability.


“In our culture, we have normalized stress, and we’ve done it in a way that is really harmful to our longevity what we are trying to create.” - Malorie Nicole (32:45 - 33:01)  

The stories we tell ourselves shape our beliefs and inform our actions. Being in a perpetual state of stress creates negative stories. Over time, these stories can result in a mindset that will block new opportunities from showing up. Removing those mental blocks, either on your own or with the help of a coach, will allow you to grow your business, and more importantly find fulfillment at the same time. It’s time to get out of your own way, change your story, and change your life.


How to get involved
If you would like more information about Timothy Dick and the success businesses have gained through work with him, visit his website.

To clear mindset blocks, transform your relationship with money, and get out of your own way, check out Malorie’s course, or to book a chat with Malorie, visit her website. You can also connect with her on Facebook and Instagram.



18. EP5: ATM Machines that Generate Passive Income with Carey Buck
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"ATMs are like little rental properties without tenants, toilets, or trash."

- Carey Buck (25:59-26:02)

Timothy Dick

Profit Layer

 

Success in any industry requires a commitment to persistent action. But with some businesses, the hard work paves the way for an income stream that requires relatively little time, energy, and attention.

 

Carey Buck has built a profitable business by owning and operating independent Automated Teller Machines (ATM) while teaching others how to do the same. With minimal upfront costs, business owners are creating multiple income streams that support their financial goals.

 

After reading Robert Kiyosaki’s Rich Dad Poor Dad, Carey became interested in creating passive income streams. After a brief stint in real estate, she found out about the ATM business at a property management seminar. That’s where her entrepreneurial success started. She was eventually fired from her full-time day job, but because of her ATM business, Carey never had to find another job.

 

“Look for people who have actually built a business, had success, are qualified to help, and care about people.” Timothy Dick (53:34-54:07)

 

Cash is Still King

 

It’s possible you didn’t even know it was possible to buy your very own ATM. In fact, 60% of ATMs are owned by private individuals instead of banks. In a world where people are used to paying for things with debit and credit cards, cash is still king. According to the Federal Reserve, cash is the most frequently used payment method. It’s used for 30% of all transactions as well as 55% of transactions under $10.

 

The ATM business model is simple.

Buy an ATM. Set the fee you want to charge users. Put cash in your ATM. Place your ATM in businesses or at local events. When someone uses the ATM, they pay a surcharge that is your profit to keep.


Maximum Profits With Minimal Investment Cost

An ATM is a vending machine for cash. But unlike other vending businesses, you don’t have to buy new inventory. The money withdrawn from your ATM is returned to your bank account within 24 to 48 hours. By returning that money to your ATM, your inventory is continually restocked while you collect the surcharge fees for every transaction.

 

If you place your ATM in a local business, expect to generate $300 to $600 per month on average. However, there are many factors that influence your income. Understanding how the business works is critical to meeting your financial goals. Mobile ATMs that you place at events and local fairs can generate larger sums in a shorter period of time. Carey estimates that a mobile ATM at a local event could generate between $500 and $2000. The ATM business offers a level of freedom and control you can’t find anywhere else. You can purchase a machine for around $2,200, put $1,000 in it, and soon be earning a steady stream of new income.


“You’re going to operate and run your business much better when you’re not worried about finances.” - Carey Buck (49:30-49:38)

Important Details to Consider

 

ATMs have to comply with rules and regulations. If you purchase a used ATM that isn’t ADA (Americans With Disabilities Act) compliant, you could face a $50,000 fine. ATMs are vulnerable to skimmers, devices that illegally collect card data from users. Without the right business tools in place, you could be held liable for the losses of your ATM customers. You need to plan for these and other issues if you want to succeed in the ATM business.

 

The ATM business can be the ideal path to entrepreneurship for anyone looking to create new income sources. Retirees and others looking to leave the 9-to-5 work life can get the freedom they need by learning how to buy and set up profitable ATMs in their local area. ATMs give you complete control over your investment, and you decide what financial goals you want to reach. The ATM business lets you create the work lifestyle you want. With over 30 million businesses in the U.S. and only 500,000 ATMs, the opportunity is there for you to create passive income and have the freedom of entrepreneurship.


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his  website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!

 

Learn more about how to get into the ATM business at ATMBusinessBlueprint.com. You can connect with Carey in her Facebook group and subscribe to her YouTube channel.





19. EP4: Outbound Marketing and Direct Outreach with Steven Perchikov
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Description:

“If you can connect with people and put something compelling in front of them that can help them grow their business...then it’s just easier and more lucrative.” - Steven Perchikov (17:30-18:00)

Timothy Dick

Profit Layer

 

Inbound marketing strategies have become the go-to method for anyone who wants to generate new clients and position themselves as an industry leader. But too many entrepreneurs overlook the outbound marketing methods that produce better results at a fraction of the cost.

 

Steven Perchikov helps today’s marketing agencies and consultants generate qualified leads using LinkedIn, email, and other outbound marketing channels. His experience working with early-stage startups proved to be one of the toughest and most exciting places to do sales. Over time, Steven has systematized his lead generation efforts into an outbound marketing approach that consistently delivers results for his clients.


“Once developed, outbound marketing is a skill that can be used anywhere.” - Timothy Dick (43:48-43:54)

Effective outbound marketing starts with reaching out to your network of friends, family, and the people you’ve worked with. This step alone can land you a handful of clients you might otherwise have overlooked had you gone straight to paid advertising and other inbound approaches. The next step is to begin cold prospecting while simultaneously developing your inbound marketing engine. This includes content, white papers, and resources that educate your target market.


Control Who You Target and What You’re Going to Say

Outbound marketing requires minimal effort to determine what works. You can define your value proposition and target a niche that needs your products or services. Businesses often spend their marketing budgets on ads that fail to deliver on results. By reaching out to your existing contacts first, you get a higher return on your investment when compared to more costly methods. Although paid advertising can work, more efficient outbound methods help you optimize your offer and scale it as you determine what works.

 

Outbound activities are ideal for anyone looking to test a new offer or a new market. Don’t waste resources building assets like an ebook, blog, or podcast until you’ve refined your offer. Craft a clear message and develop a systematized strategy for connecting with your network. Outbound marketing gives you complete control of who you’ll target and what you’ll say to them. The key is to do your research first so you target the right people.


“Just because you’re going to automate some of your marketing...doesn’t mean you should automate all of it at the expense of your reputation, results, and revenue.” - Steven Perchikov (25:30-25:48)

 

Unlike cold-calling, where marketers struggle to get through gatekeepers, using LinkedIn or email lets you reach individuals directly. If you’re targeting narrow markets, spend more time creating personalized messages that address the unique needs of your audience. Wider markets may not require the same level of personalization.

 

Outbound marketing fundamentals rarely change. You can continue to apply them despite the ever-changing online marketing landscape. If you target the right audience, you can use outbound marketing activities anywhere. Few people take the time to create a list of the right people to target or crafting just the right message. If you optimize your LinkedIn profile and gear your message to your target audience with a compelling headline and copy, you’ll achieve greater results at a lower cost to your business.


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!

 

You can contact Steven Perchikov at steven@artofsalesacademy.com. Or connect with him on LinkedIn.








20. EP3: Marketing Diversification
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Description:

“I look at marketing and tactics, but I also figure out what unique combination makes sense for each business.” - Timothy Dick (5:56)

Timothy Dick

Profit Layer

 

Online marketing is a hamster-wheel of new techniques, engaging content, and tactic testing.

 

Anyone in the online business world knows how overwhelming it can be to try and stay abreast of the algorithms and strategies associated with marketing to an audience. These tools and tricks have their purpose, of course, but a weapon is only as good as the person who wields it. Your marketing has got to work for you and for your people.

 

Layers are the key. Your business requires a unique mix of efforts and considerations to run at its best - supply chains, onboarding, finances, and of course, marketing. Figuring out the best combination for your business requires hands-on testing and tinkering.

 

That said, the success of your tinkering depends on the effort you put into it, and the foundation you’re building your marketing on. No one can market their way out of having a good offer. Once that pillar is built, it’s time to focus on finding out where your people are.


“Spending more money on Facebook is not the only way.”

- Nic Peterson (21:09)

It’s easy to get caught up in the specifics of each online platform. Should you lean on Facebook, LinkedIn, or Instagram? Ultimately, however, each and every platform comes down to the same goal - to get your offer in front of potential clients.

 

The thing about these online platforms is that they are ever-changing. Algorithms shift and render your best tactics obsolete. It’s tempting to give up and move on to the next network. Tempting, but unproductive. That’s a vicious cycle. Instead, shift with the platform. Tinker and test and try things out until you find something that works. And once you’ve figured out this process, add the layers. Get one optimized, and add another, and keep going. That way, if you lose an account or something falls through, you’ve got more than one leg to stand on.


How are you catching the eyes of your audience? Explore your options when it comes to targeting.


Retargeting is essential to the process. And this is all behind the scenes of your ad networks. What happens when someone comes into your ecosystem?

 

This is where ad content comes in. Set your ads up to give your audience multiple exposures to your content. Put your ads everywhere and be sure to track the metrics of your audience engagement to help you refine your efforts.

 

There are some intentional ad targeting methods that have been proven to give great results.

 

 

Geo-location. Narrowing your audience down to attendees at a relevant event and targeting their phones directly is by far preferable to casting the usual wide Facebook net. Refine your language. Getting in front of your people only does so much good if you don’t speak in ways that engage them, relate to them, and make the content easy to understand. Direct mail. This method falls through the cracks, and its effectiveness is often underestimated. It is inexpensive and super-targeted. Transfer results. Reap the rewards of your tinkering by taking your proven strategies from low-impact networks to the heavier hitters like Facebook and Google. Human behavior stays consistent across the board. Give value. What you show your audience is as important as how you show it to them. Above all, put goodwill and value into your market, and your work will speak for itself. You’ll slowly start to stand out in the minds of your audience as they grow to like you and trust you.

 


“The best time to plant a tree was 20 years ago. The second best time is right now.” - Nic Peterson (39:34)  

Understand your networks, their inner workings, and how they can be utilized and optimized for your content and your target audience. Now that these methods and tricks are readily accessible and less expensive, there’s no reason not to stack the marketing deck in your favor. The volume of views or leads is less important than the quality.

 

As with all aspects of your business, building layers will ensure long term sustainable success. The best time to plant the targeting layer of your business was when the business was born, but the second best time is right now.

 


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!



21. EP2: Repeat What Works
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“You want to make money and build your business. Step back and look at what you have done before that works. That’s what you should do next.” - Nic Peterson (2:02-2:15)

Timothy Dick

Profit Layer

 

 

 

Keep it simple.

 

Let’s face it. Too many entrepreneurs overcomplicate the marketing process. When it comes to your marketing, keeping it simple may be all you need to sustain growth, acquire more customers, and position your brand as an industry leader.

 

There’s a simple way to get great results without increasing your marketing costs. It’s basic and straightforward, but even businesses that achieve success through launches, special promotions, and other marketing campaigns continue to overlook it. They end up wasting time, energy, money, and other limited resources only left to wonder why they’re momentum stalls.


“We get bored and we stop doing things long before they stop working.”

- Nic Peterson (1:55-2:00)

Long-term growth and an increasing customer base can be achieved by doing one simple thing:

 

Repeat what works.

 

Ask yourself, “Have I ever done something that worked and then never did it again?” Most entrepreneurs realize they’ve made this mistake more than once. But why would they overlook a strategy that seems so simple and obvious?

 

One reason we overlook the strategies that have been successful is that we get bored with what we’re doing. Consequently, we stop doing something way too soon. This happens often in website, branding, and copy redesigns that are done simply for the sake of change. Entrepreneurs often get lost in building new webinars, lead magnets, and other marketing assets. This can feel new and flashy. However, in the process, they increase their marketing spending while diminishing the returns they see with these and other strategies.

 

Ask the Right Questions to Repeat Positive Results.

Time, money, and marketing efforts would be better served by observing what has already been done that has been successful and repeating it. Consider where and how you got your previous customers. If they came from social media, keep using that channel to acquire more customers. If you wrote a guest article that drew high-quality traffic to your site, share that article on other platforms or write more guest articles.

 

This approach gives the power to reverse engineer those “happy accidents” that resulted in more business and revenue. Find out what works, then optimize future marketing messages and campaigns to improve results over time. Rather than switch to a completely different strategy, fine-tune and improve what you know will bring in new customers and help you achieve your business goals.


“Find what works. Repeat it, repeat it, and repeat it. It really can be just that simple.” - Timothy Dick (5:05:5:15)

In order to see what’s working, put a system in place for measuring the results of your marketing efforts. You can reduce any errors you’d otherwise make and determine the costs associated with finding prospects and converting them to into paying customers.

 

Without measuring marketing campaigns, you’re more likely to increase costs and cut into the bottom line. Setting goals is the first step to determining if what you’re doing is still working.  Rather than blindly marketing products or services, figure out what’s worked in the past and do more of it while optimizing the approach for better results.

 

Repeating what works is one of the simplest and most effective ways to maintain your growth within your industry. Putting this strategy in place gives you a leading edge over your competitors and will exponentially increase your success and sustainability.


How to get involved.
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!






22. EP1: The Marketing Layer
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“If you don’t have a good product, you can spend millions of dollars and a lot of time in marketing, but it won’t work.”  

- Timothy Dick

 

Marketing is not a trendy advertising method.


A lot of people think marketing is business. We have a lot of ‘experts’ and ‘gurus’ out there teaching ‘marketing.’ What they’re actually teaching is an advertising method. People often look at a certain tactic and mistake it for marketing. When you break it down, the layer of marketing is all about helping people and solving a problem. It’s that simple.


In order to have an effective marketing strategy, there are a few key questions to ask:

What are you offering?
Does it solve a problem?
Most importantly, does your market recognize the problem that you’re solving?
You could have an excellent product, and spend millions in advertising, but if your market doesn’t see the problem, they aren’t going to give you their money.


It can be easy to get distracted by the array of marketing platforms available. Each platform serves a purpose, but it may not serve you. Everything may work in the proper context, but it’s important for you to determine what is the most effective, least expensive, and fastest path to getting your product in front of your target audience.


“The two major metrics I look at are the cost per acquisition and the return on ad spend.” - Timothy Dick


Broaden your scope. Enhance your marketing.

 

As business owners, it can be easy to default to a trendy marketing strategy or zero in on one platform or channel. One of the worst situations we see is a client who may be doing millions per month, but they are only utilizing one platform. Everything is changing all the time. Anyone who tells you that you can put all of your focus on one platform is ill-informed. Algorithms and trends shift regularly. If all of your marketing eggs are in one proverbial basket, a single algorithm change could set you back at square one. Having multiple channels will ensure that your profits will remain unaffected in the midst of ever-changing marketing algorithms.


“I’ve seen people optimize optimize optimize… but it’s not actually what they should be optimizing for if they want a healthy business. What is good for cheap leads, won’t be good for profit.”

- Nic Peterson

 

This week, take a step back and make a list of all of your marketing channels. Where are all of the places you get your business? Take an objective look at that list and ask yourself, are you comfortable with the number of marketing channels you are utilizing? Take this list a step further. Add the sources of random clients that you didn’t gain through intentional marketing. You may have some channels working for you that have been underutilized and could be strong marketing channels for your product or service.


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!



23. Pilot - ProfitLayer with Timothy Dick
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“There is no magic bullet to make your business successful. It’s the right combination of layers strategically put together.”

 

Welcome to ProfitLayer. While internet marketers are blasting their six-figure months, Timothy Dick is having six-figure days. Want to learn the secret to his massive success?

 

Tim never really wanted a podcast, but he’s realized that the information he has learned in a lifetime of entrepreneurship needs to be out there. The real world information you’ll find in the ProfitLayer podcast will be a bit different than the information you’ve been taught in those marketing e-courses.

 

Each week, this podcast will be focused on breaking down the layers that comprise successful businesses. Sales, fulfillment, marketing, operations, finances, all of these layers need to operate together, with intentional structure. Tim will share his knowledge, along with experts in the field who offer unique viewpoints, strategies, and techniques to turn your business upside down in the very best way. We aren’t about sexy strategy, but we are all about what will work. Ready to take your business to the next level?


How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!