Tai Lopez on “How to scale a Coaching Business to $10,000,000/month” - LIVE Mentoring

Niklas Pedde
5 Oct 202333:52

Summary

TLDRIn this business mentorship session, the focus is on scaling a business to achieve a monthly revenue of a trillion dollars, aiming to surpass the global GDP. The current business model, which relies heavily on influencer marketing and affiliates, is discussed, with strategies such as implementing SMS marketing, developing a recurring revenue stream, and diversifying marketing efforts to include paid advertising. The mentor emphasizes the importance of controlling the narrative, creating a tribe-like following, and the potential of long-form content to solidify brand loyalty and credibility.

Takeaways

  • 😀 The goal is to scale the business to a level where it surpasses the global GDP and runs through the business's bank account.
  • 📈 The current business model is based on influencer marketing and affiliate marketing, with a significant growth from 1.6 million to 3.3 million in monthly revenue.
  • 🤝 The business has a partnership structure and is open to implementing new strategies like outbound sales teams.
  • 📱 There is an emphasis on the importance of SMS marketing and the need to build an SMS list for better customer engagement.
  • 📈 The speaker suggests diversifying marketing strategies, including the introduction of paid advertising to complement organic reach.
  • 💡 The concept of 'push' and 'pull' marketing is introduced, with the speaker advocating for a balance between the two to maximize business growth.
  • 📚 The speaker discusses the importance of having a comprehensive business structure, likening it to the military's division of forces for effectiveness.
  • 🔑 The idea of creating a 'tribe' or community around the brand is highlighted as a strategy for business growth and loyalty.
  • 🔄 The speaker emphasizes the need for recurring revenue in the business model to ensure stability and scalability.
  • 📈 The strategy of focusing on the top-performing areas (60%), developing new areas (30%), and having a backup plan (10%) is suggested for sustainable growth.
  • 🌐 The importance of controlling all aspects of content creation, from short to long-form, is stressed to maintain a competitive edge in the market.

Q & A

  • What is the primary goal discussed in the transcript for the business?

    -The primary goal discussed is to scale the business to make a trillion dollars a month, eventually running the entire Global GDP through the business's bank account.

  • What is the current monthly revenue of the business mentioned in the transcript?

    -The business is currently making 3.3 million dollars a month in cash collected.

  • What marketing strategies is the business currently using?

    -The business is primarily using influencer marketing and affiliates on Instagram, without running any paid advertising.

  • What is the nature of the product or service being offered by the business?

    -The business offers training on how to start and monetize social media profiles, either with one's own product or mainly through affiliate products.

  • What is the speaker's approach to business divisions?

    -The speaker divides business operations into 14 divisions, drawing a parallel to the military's structure, emphasizing the importance of not missing any division for effective business operations.

  • What is the speaker's advice on outbound sales for the business?

    -The speaker suggests implementing an outbound sales team that calls potential customers after they provide their name, email, and phone number.

  • What is the speaker's view on affiliate marketing?

    -While acknowledging the effectiveness of affiliate marketing, the speaker advises caution as building a business solely around affiliates can lead to potential legal and financial issues.

  • What is the '60 30 10' philosophy mentioned by the speaker?

    -The '60 30 10' philosophy suggests putting 60% of energy into the current best-performing strategy, 30% into developing secondary business opportunities, and 10% into a completely different backup plan.

  • What does the speaker suggest regarding the introduction of a recurring revenue stream?

    -The speaker recommends introducing a recurring revenue product to make the business more stable and salable, and to ensure a consistent cash flow.

  • What is the importance of content length variety according to the speaker?

    -The speaker emphasizes the importance of creating content in various lengths to cater to different audience segments and to ensure a competitive edge in the market.

  • What advice does the speaker give on leveraging social media platforms like Instagram?

    -The speaker advises to grow the business's own social media accounts, including Instagram and YouTube, and to create high-quality content that can be boosted to increase brand visibility and credibility.

Outlines

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Mindmap

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Keywords

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Highlights

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Transcripts

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Étiquettes Connexes
Business GrowthLive MentoringMarketing StrategiesAffiliate MarketingInfluencer MarketingRevenue ScalingSocial Media MonetizationPaid AdvertisingOutbound SalesContent Marketing
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